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February 19, 2019

PRRD signs proclamations creating 2 IT centers 

NEWS

President Duterte has signed Proclamation Nos. 672 and 673 that would allow the construction of two Information Technology (IT) centers in Quezon City and Bonifacio Global City (BGC) in Taguig. The IT Park in EDSA cor. North Avenue Diliman, Quezon City would cover 26,741sqm of land and would be named SM City North Edsa Complex. Meanwhile, the BGC IT park would have a GFA of 27,089sqm. The creation of new IT Centers is in line with the Duterte administration’s goal of generating more job opportunities.

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RESEARCH VIEW 
The development of new IT centers will provide additional office supply in Metro Manila. In 2018, Colliers recorded a vacancy of 5.0%. The limited office supply hinders the consolidation of a number of companies. The additional PEZA-proclaimed space should entice more outsourcing firms to occupy additional office space. In a statement released in December 2018, Colliers urged the government to expedite the approval of Philippine Economic Zone Authority (PEZA) applications to sustain the outsourcing sector’s growth. We also recommend a more accelerated approval of PEZA applications in the provinces to disperse BPO activities outside of Metro Manila and bolster employment opportunities in the countryside.


DataLand eyes projects in Clark Global City

NEWS

Dennis Uy-led Global Gateway Development Corp. (GGDC) is partnering with Dataland Corp. to build an office, dormitel and hotel area in country’s next business district, Clark Global City. From the 177-hectare land in Clark Global City, 109 hectares of which are suitable for construction and Dataland Corp. wants to sublease a 2.3-hectare property in this area. Dataland Corp. president Andrea Marie Tamayo-Ulep said that the partnership with GGDC was a “strategic move in creating a progressive environment to one of the largest office markets in the Philippines.”


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RESEARCH VIEW
The government has lined up a number of airport and passenger rail projects in Pampanga. Colliers sees the completion of these projects spurring economic activities outside of Manila and reducing traffic congestion in the country’s capital. This should raise demand for support facilities such as offices, residential units, hotels, and malls. To cash in on thriving real estate opportunities in the region, Colliers encourages developers to start acquiring parcels of land in Clark and around its fringes. 


MPIC logistics unit putting up centers in Bulacan, Cavite

NEWS  
Metro Pacific Investments Corp. (MPIC) strengthens its logistics business by developing two distribution centers in Luzon through its logistics arm, MetroPac Movers Inc. (MMI). MMI has tapped Aboitiz Construction Inc. for the development of the 202,000sqm South Mega Distribution Center which would be built along Arnaldo Highway in Gen. Trias Cavite. Meanwhile, the North Mega DC covers 277,857sqm of land and is to be built in San Rafael, Bulacan. Company officials are confident that these would create new jobs and be able to serve clients from various industries. As the logistics industry is set to be the new playing field among businesses, MPIC aims to double its warehousing capacity to 70 hectares by expanding in Visayas and Mindanao as well.

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RESEARCH VIEW

Colliers encourages developers to expand their industrial footprint by building more warehouses in key industrial hubs in Northern and Southern Luzon such as Clark, Bataan, Tarlac, Cavite, Laguna, and Batangas. The rising demand for warehouses is partly driven by a thriving e-commerce industry in the Philippines. In our opinion, developers should build more modern warehouses to capture the demand for industrial facilities which we see rising over the next 12-24 months.
  

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