A-FLOW Properties I Corp. (A-FLOW), a joint venture of AyalaLand Logistics Holdings Corp. (ALLHC) and FLOW Digital Infrastructure, secured a P2.4-billion loan from Land Bank of the Philippines.
The loan represents the first tranche of a P10.8-billion 10-year financing facility for A-FLOW.
The funds are earmarked for the construction of inaugural phase of A-FLOW’s expansive data center campus in Biñan, Laguna. The initial phase aims to deliver a robust 6-megawatt IT capacity spread across three state-of-the-art buildings and set to commence operations by year-end.
“This agreement signifies our unwavering commitment to establishing the foremost carrier-neutral data center campus in the Philippines,” said A-FLOW president Amandine Wang.
Ayala Land Inc. (ALI), the parent company of ALLHC, said in a statement the collaboration between A-FLOW and LandBank signifies a milestone in fostering innovation and sustainable growth, underscoring the transformative power of public-private partnerships in achieving national development goals.
As the project progresses, stakeholders anticipate its pivotal role in fortifying the Philippines’ position as a regional hub for digital innovation and economic growth.
“Ayala Land is proud to be participating in this new opportunity leveraging our land and our lucrative abilities to contribute to the country’s move towards a digital economy,” ALI president and chief executive and ALLHC chairman Anna Ma. Margarita Dy said.
“Like any other infrastructure project, capital is key. So, we thank LandBank for the P10.8 billion loan facility to A-FLOW, a critical enabler for this project,” she said.
LandBank president and chief executive Ma. Lynette Ortiz also expects A-FLOW’s project, the first data center to be financed by the bank, to yield significant economic benefits.
“In this era of rapid digitalization, we are likewise ready to drive investments into the local data center market, alongside other sectors contributing to our nation’s technological progress,” she said.
ALLHC teamed up with FLOW, a regional platform providing customized solutions to meet the growing demand for digital infrastructure in Asia-Pacific in 2022, to develop data centers across the country.
