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11F Frabelle Business Center
111 Rada Street Legaspi Village
Makati City 1229 Philippines 
Tel: 632 888 9988
Fax: 632 858 9001


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Cebu Business Park
Cebu City, 6000 Philippines
Tel: 6332 233 6422
Fax: 6332 412 2560

March 4, 2019

ALI raises 2019 capex budget to P130 billion

NEWS
Ayala Land Inc (ALI) is setting aside P130 billion for its capital expenditures in 2019, up from P110 billion in 2018. The company’s officials said about 40% will be allocated to residential development, 20% to 25% to its leasing business, while the remainder will be used to acquire additional land. Aside from its traditional business lines, the property firm will also expand its flexible workspace business and dormitory projects for working professionals. 

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RESEARCH VIEW
Colliers sees stable demand for condominium and house and lot projects throughout the country over the next 12 months. Aside from decelerating inflation and stable consumer confidence, the demand is also fueled by a sustained flow of OFW remittances. The robust macroeconomic environment is benefiting the property sector and the strong demand is spilling over to new property segments such as co-working spaces and dormitories for employees. 


DM Wenceslao nets 23% more to P1.9 billion

NEWS

D.M. Wenceslao & Associates Inc. booked a net income of P1.9 billion in 2018, up 23% YoY. The firm recorded revenues of P2.2 billion, nearly 90% of which is from recurring income from leasing businesses. Leasing of land and rentals of buildings rose in 2018 while residential sales jumped by 153%. The delivery of Aseana Three added 30,000 sq m to the firm’s leasable gross floor area (GFA). The 8912 Aseana Ave. office building is due to be completed in 2020. Meanwhile, the firm launched its  MidPark Towers condominium in November 2018. 

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RESEARCH VIEW

D.M. Wenceslao is among the property developers benefiting from the brisk office and residential demand in the Bay Area. Colliers estimates that in 2021, the Bay Area will overtake Makati CBD in terms residential condominium stock. Based on Colliers Research, the Bay Area’s leasable office stock will reach 1.16M sq m in 2021 from 673,200 sq m in 2018. In our opinion, the sustained demand for office space in the reclaimed business district is translating to increased demand for residential units. The Bay Area is among the preferred business hubs in the country’s capital. As of end-2018, it posted an office vacancy of 0.5% and secondary residential market vacancy of 12.1%, the latter covers the take up of completed condominium units across the key business districts.


Cathay Land’s Ng sees strong demand for industrial lots

NEWS

Cathay Land, Inc. has launched the second phase of Cavite Light Industrial Park (CLIP). Phase 2 adds 20 hectares of new industrial space, bringing CLIP’s stock to 70 hectares. The firm expanded its industrial park on the back of rising interest in Cavite. Among CLIP’s locators are those from pharmaceutical, packaging, technology, trucking, glass, and aluminum industries. Only 28 additional lots will be offered. 

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RESEARCH VIEW
Colliers is still receiving queries for acquisition of industrial land in Cavite and Laguna but the lack of supply in both provinces is compelling manufacturers to explore available industrial land in Batangas. Cathay Land’s project should help bridge the supply gap in Cavite. Based on Colliers International’s research, Cavite’s industrial vacancy dropped to 6% in H22018 from 6.6% in H1 2018. According to Philippine Economic Zone Authority (PEZA), manufacturers of electronics, fabricated metal, and aluminum products have committed to expand operations in Cavite and these firms should absorb additional industrial space over the next 12 to 36 months.

Contact


Philippines
Colliers International | Manila 11F Frabelle Business Center, 111 Rada Street Legaspi Village, Makati City 1229 Philippines | Tel: +632 8 888 9988