The data center boom continues: Azora invests 1.1 billion in Villamayor de Gállego

There are already €37 billion in business attraction within the technology hub starting in 2024, and more than €4 billion announced so far this year in Aragon. President Azcón made this statement from the podium in the Hall of Columns of the Pignatelli Building (Zaragoza), minutes after announcing the launch of another data campus in the Autonomous Community in the early hours of Thursday. The real estate group Azora is injecting €1.1 billion to build this new data warehouse in Villamayor de Gállego.

“This is another strategic investment for the development not only of Aragon, but of Spain. We are a preferred destination, and each of these investments creates a vicious cycle,” the president boasted, adding that Aragon and its economy are experiencing a “vibrant” and “unprecedented period in terms of attracting businesses and investments and creating jobs.”

“Today, technology companies from around the world looking for a location to deploy their data centers consider Aragon a preferred destination, as this region offers optimal conditions for their development,” the head of the regional government acknowledged.

1.1 BILLION IN THE INITIAL PHASE

These 1.1 billion euros correspond to the initial phase of the project, which, in turn, has a guaranteed energy capacity of 150 megawatts. The DGA leader has pointed out that, for this investment tranche (an expansion that would double the investment and employment figures is planned), access and connection to the Electricity Grid are guaranteed . If they can expand in the future, the influx of millions from the real estate giant could reach nearly 2 billion euros in Aragon with this technological initiative (1.95 billion, specifically).

According to the Declaration as an Investment of Regional Interest (DIGA), ratified this Thursday, the Villamayor campus is expected to be fully operational in seven years, with construction beginning in early 2027. However, the company wants to bring this forward a few months. “We are going to work toward this goal, but we will be cautious. It will be as soon as possible,” Azcón stated from the Pignatelli office. The project announced today includes the development of the area, the construction of the data campus itself, and ancillary works (electrical connections, fiber optic installation, water supply, etc.).

EMPLOYMENT AND GDP

Regarding employment, up to 1,040 jobs are projected in the initial phase, and if the planned expansion is completed, this would increase to 1,770. The direct impact on Aragonese GDP from the construction of this data center will amount to €5.487 billion. This would rise to €9.305 billion if it is expanded.

On the other hand, Azcón also assessed the fiscal impact of its introduction in Aragon, as it will initially raise up to €138 million, which can be increased to €193 million. “It’s not just corporate tax or income tax, but also property tax and activity tax,” the Aragonese leader explained.

WILL CONSUME THE SAME AMOUNT OF WATER AS 25 HOMES IN ONE YEAR

Azcón’s statement also highlighted the water and energy consumption of this new technological warehouse. He emphasized that the environmental impact will be minimal, as thanks to the advanced refrigeration technology that will be used, combined with a closed-loop system, hardly any water will be consumed. “It will be comparable to 25 homes in a year. It’s clearly minimal consumption,” the president stated, adding that, regarding energy, it will be 100% renewable.

ABOUT AZORA

Azora is a renowned Spanish investment management firm with more than 20 years of experience in infrastructure and real estate assets. Founded by Fernando Gumuzio and Concha Osácar, the company manages nearly €15 billion in assets in Europe and the United States, through its offices in Madrid, London, and Miami.

With a solid base of institutional investors and an innovative vision, Azora’s track record is based on identifying and anticipating global megatrends. It has excelled in the development and promotion of affordable rental housing since 2004, managing more than 30,000 homes.

It is also notable for the creation of the largest student residence platform in continental Europe in 2011, the launch of the publicly traded vehicle Hispania in 2012, and an investment of over €1.3 billion in hotels in Europe. It has also developed and operated more than 2.0 GW of solar and wind energy in Spain and the US.