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November 10, 2017

More Japanese exploring investment opportunities in Davao City

NEWS
More Japanese investors are exploring business opportunities in this city dubbed a century ago as “Little Tokyo,”   Lemuel Ortonio, head of the Davao City Investments Promotion Office (DCIPC) said. “More are still on the scouting stage, checking on what possible investment areas are feasible for investing,” Ortonio said in an e-mail to MindaNews. His office has been receiving weekly visits from potential Japanese investors since President Rodrigo Duterte, who served as mayor of the city for 22 years, assumed office last year, Ortonio said. They have yet to determine how many of these investment inquiries have come to fruition, he said. But he noted Sustena Inc., a renewable energy company based in Kanagawa Prefecture in Japan, with offices in Makati and Cebu, has recently entered Davao. Ortonio visited Japan for a Davao Investment and Tourism Roadshow from October 16 to 20 in Osaka, Kyoto, Yokohama and Tokyo, along with other delegates from  the public and private sector. The roadshow was intended to give the Japanese an idea of the city’s tourism and investment opportunities for foreign investors. “More importantly, the activity provided an opportunity to share to the Japanese government and private organizations that the Philippines is more than just Manila, Cebu, Palawan, and Boracay,” he said. Duterte announced, upon arrival Tuesday evening from his two-day working visit in Japan, 309 billion pesos worth of deals with Japanese invesors and a pledge from the Japanese government worth 456 billion pesos for the “Build, Build, Build” program and Marawi’s rehabilitation.
(Source: Minda News, 05 November 2017)
 
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RESEARCH VIEW
More Japanese investors are exploring investment opportunities in the Philippines given the country’s growing competitiveness as an investment hub. Aside from Japanese manufacturers occupying space in industrial parks in the Cavite-Laguna-Batangas corridor, some Japanese investors have also firmed up partnerships with local firms engaged in the development of office, residential, and retail projects. Overall, we see the international partnerships making the property landscape in the Philippines more competitive. Local developers have become more aggressive in partnering with foreign investors for their projects and we see several office, residential, retail, even township projects in the pipeline. Given these opportunities, the challenge for developers now is to differentiate. For instance, having Mitsukoshi as an anchor tenant will help redefine Metro Manila’s retail landscape. We believe that the lower cost of air travel has exposed a lot of Filipinos to popular Japanese brands, hence encouraging local firms to merge partnerships and bring these brands to the Philippines.


Ayala Land to open 4 more shared-office space in 2018

NEWS
Ayala Land Inc. (ALI) will open at least four more branches of its shared-office facilities under the brand “Clock In” by next year. ALI said these space-for-lease hubs are to be in new development projects of the company in Metro Manila. Christine N. Novera, Fort Bonifacio Development Corp. (FBDC) assistant manager for business development, property planning and office leasing, said the new sites will be at the Ayala Malls The 30th in Pasig, Ayala North Exchange (ANE), a mixed-use building beside Makati Medical Center in Makati and Vertis North in Quezon City. FBDC is a unit of ALI. “The ANE will open at the latter part of next year because the building is still under construction,” Novera said. “The Clock In there will be three times bigger than the one in the Makati Stock Exchange.” The new sites will bring total Clock In centers to six. The other two are in Bonifacio Technology Center and in Bonifacio High Street, both in Taguig. The ANE will be ALI’s biggest Clock In branch, at about 1,800 square meters. The 30th would have 1,000-sq-m office space, with Vertis North at 8,000 sq m. The company opened its third branch at the Bonifacio High Street last week, which will be its last opening for the year. “Square One BGC merged with Clock In to offer more perks, options and networking opportunities for coworkers,” FBDC said in a statement. “We made our social halls much more spacious because those seemingly casual interactions often turn out to be a minefield of ideas from which passion projects take flight.” Square One was the same brand of a unit of Ayala Land that offers the same concept of shared-office space. At a full capacity of 1,400 sq m, Clock In in High Street can seat over 300 coworkers, split into its small offices, meeting rooms, individual desks and adaptable open spaces. This can accommodate any work requirement from a quick writing gig to a full-scale app-development job, and everything in between, FBDC said.
(Source: Business Mirror, 02 November 2017)
 
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RESEARCH VIEW

Based on Colliers International Philippines’ Research, the number of flexible office space operators has reached over 60 as of end-2016. This is a significant jump since the industry’s beginnings when serviced office Regus opened its first site in 1999. Today, the estimated total stock of flexible workspaces in Metro Manila has reached 228,000 sq m (2.5 million sq ft). Colliers expects this number to grow by at least a tenth annually in the next three years, as demand for co-working spaces is buoyed by a millennial-dominated labor force. Among the major growth drivers are the following:  multinational companies (MNCs) using the space; business process outsourcing’s role in the local market; emergence of start-ups and freelancers; and growing millennial workforce.


Japanese fashion brand opens outlet in Cebu

NEWS
More than a year after it first opened in the Philippines, Japanese fast fashion brand Miniso is finally in Cebu with the opening of its 36th branch in the country. The company, which penetrated the Philippine market June of last year through a partnership with the SM Group, plans to open at least 500 stores in the next five years. The first Cebu branch located in SM City is among the 10 branches initially planned for Metro Cebu, said Michael Hong, president of Mini Depato Corporation, the Philippine master-franchisee for Miniso International. Hong added that the 100-million strong consumer base of the Philippines was what attracted the Japanese specialty brand to invest massively in the Philippines stressing that “it’s not so much on the purchasing power” because their affordable products will sell for “as long as there are people.” The brand carries a wide array of specialty products with minimum of 10 categories from health and beauty, gift items, digital accessories, and cosmetics, among others. Established three years ago in Tokyo, Japan, Miniso now has a total of 2,100 stores in 50 countries across six continents including the United States, Canada, Russia, Singapore, Brazil, Saudi Arabia UEA, Turkey, South Africa, Korea, Malaysia, Thailand and the Philippines. Over 80 percent of the brand's product designs originated from Japan, Korea, Singapore, Malaysia, China and other countries.
(Source: The Freeman, 04 November 2017)
 
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RESEARCH VIEW

Overall, we see sustained demand for the Cebu retail market in the next 12 months and we attribute this to the growth of Cebu’s outsourcing sector; continued deployment of migrant workers; and sustained influx of local and foreign tourists. We also consider Cebu as among the key urban hubs outside of Metro Manila that will benefit from the government's goal of ushering in the "golden age of infrastructure" in the country. To further attract investments, both local and national governments are proposing the development of a subway, railway, and bus rapid transit (BRT) system across Cebu. The completion of these crucial infrastructure projects should raise opportunities for transit-oriented retail projects in the city.


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