Globe Telecom Plans $1 Billion Data Center Investment by 2027
Philippines' Globe Telecom plans to invest at least $1 billion by 2027, primarily to expand its data center business and capacity.
Globe Telecom, a major telecommunications provider in the Philippines, has announced plans for a significant investment of at least $1 billion by 2027, focusing on the expansion of its data center operations.
The company's strategy involves substantially increasing its data center capacity. Globe Telecom currently operates five facilities through its joint venture, ST Telemedia Global Data Centres Philippines, a partnership with Ayala Corp. and Singapore Technologies Telemedia. The current capacity is set to reach between 30 to 35 megawatts by the end of 2026.
Looking ahead, Globe Telecom aims to scale its capacity to 124 megawatts over the subsequent three years, driven by the development of new sites and the expansion of existing ones. This move aligns with the Philippines' recent update to its data classification and residency rules under Executive Order No. 119, which could influence demand for domestic data infrastructure.
President and CEO Carl Raymond Cruz also mentioned that Globe's fintech arm, Mynt, which operates the popular GCash mobile wallet, is preparing for what is anticipated to be the Philippines' largest initial public offering. The substantial investment in data centers underscores Globe's commitment to bolstering its digital infrastructure and capitalizing on the growing demand for data services in the region.