Philippines: Philippines conglomerate SMIC explores move into data centers

Mar 07, 2024 | Posted by Abdul-Rahman Oladimeji

Philippines conglomerate SM Investments Corporation (SMIC) announced that it is  looking at moving beyond retail redevelopment into data centers, and is planning at least one development in Batangas, south of Philippines capital Manila.

SMIC president and CEO Frederic DyBuncio said to the press, “We are continuing to look as well at other opportunities out there… industries which are key to economic [growth] of the Philippines. Data centers, for example, we are looking into. We just build the shell for them with all the telco, water, power, generator. That’s the model we are looking at. Then we will look for operators to come in and manage it themselves. We will probably get something up within the year.”

In a subsequent investor update, SMIC said: “We wish to confirm that the company is exploring the data center space, but it is too early to make projections on the impact of this line of business to the financials of the company.”