Devid Gubiani, President and CEO, PhilTower speaks exclusively to TowerXchange about the new JV formed with MIDC, set to transform Philippines’ tower market.
The Philippines is home to a distinct three-MNO market formed of Smart, Globe Telecom (Globe) and new entrant DITO, underpinned by a common tower policy. The favourable regulatory framework, immense build-to-suit (BTS) opportunities and the prospect of significant sales and leaseback (SLB) deals with Smart and Globe spurred huge interest in the country.
However, its towerco market is bloated with some 21 independent tower companies (or common tower companies as they are known locally), consisting of KKR-owned Pinnacle Towers – the country’s largest towerco – pan-Asian heavyweights EdgePoint Infrastructure and EDOTCO, followed by PhilTower, MIESCOR Infrastructure Development Corporation (MIDC), Unity, CREI Management Services, and a long tail of middle market towercos.