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September 24, 2018

FLI on track to complete 2nd office tower in Pampanga

NEWS

Filinvest Land, Inc. (FLI) is set to finish its second office tower within the group’s 201-hectare tourism and leisure estate in Pampanga this year, as it seeks to cater to the business process outsourcing (BPO) firms flocking to the province.
The office tower called 2 Workplus offers a total gross leasable area (GLA) of 13,035.5 square meters (sq.m.) across five office floors, while there will be another floor dedicated to retail. The building also offers 171 parking slots for its employees.


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RESEARCH VIEW

Clark Freeport Zone remains the major BPO hub in the Central Luzon region. In 2016, Clark was ranked by Tholons as the 97th most attractive location for outsourcing operations in the world. However, in 2017, the city slipped out of the Top 100 list. Despite the decline, Clark continues to attract major BPO locators and remains a key back up site for Metro Manila-based operations. Clark, together with Angeles and San Fernando, employs more than 20,000 outsourcing workers. Among the major locators in the area are Alorica, Cloudstaff, Convergys, iQor, Sutherland,TaskUs, TATA Consultancy, Teletech, Stellar, and VXI. Office vacancy across the Clark-Angeles-San Fernando corridor stood at 26% as of end-2017 due to the recent completion of office towers in Clark Freeport. Colliers sees overall vacancy easing to 13% over the next 12 to 24 months.

Groundbreaking for $3.7-billion Makati subway expected by end of 2018 — Binay

NEWS

The proposed $3.7-billion subway in the country’s financial district may break ground by the end of 2018, the Makati City government said.
In a statement on Thursday, Makati City Mayor Abigail S. Binay said the Swiss challenge for the urban rail system proposed by a consortium led by IRC Properties, Inc. is set to end by Sept. 24.

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RESEARCH VIEW

Local governments have been very aggressive in introducing infrastructure projects that are expected to improve traffic flow within their respective business districts. This is complemented by private developers’ push to build infrastructure projects such as roads and bridges within their integrated communities across Metro Manila. Eventually, we see private developers taking the lead in building crucial infrastructure to boost growth within their township developments that integrate the live-work-play lifestyle. Colliers believes that a robust development of key infrastructure within Metro Manila also presents opportunities for developers that are planning to participate in the operation and maintenance (O&M) of transportation projects.

Alphaland gets buy-in offers from Thai, Chinese investors

NEWS

Alphaland Corp., the luxury property firm chaired by tycoon Roberto Ongpin, said three foreign investors from Thailand and China have expressed interest to invest in the company. The company is still evaluating the offers.
Alphaland announced yesterday that its first-half net income jumped to P3.36 billion from P781 million a year ago on the back of brisk reservations for its new projects.

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RESEARCH VIEW

Over the past few months we have seen the launch of a number of residential projects inside and outside of Metro Manila between foreign companies and Filipino firms. We see this trend being sustained as Colliers Philippines has been receiving queries from firms based in Japan, Hong Kong and Mainland China planning to tie up with local developers. Gross yields for property investments in the country are among the most attractive in the region and this encourages foreign companies to be more aggressive in partnering with local firms for various residential projects. Colliers believes that local and foreign companies mutually benefit from joint venture projects. While foreign firms are enticed by high yields derived from Philippine projects, local developers can improve their brand image by partnering with prominent foreign brands known for their precision and high architectural and engineering standards. Hence, Colliers recommends that developers be on the constant lookout for potential JV deals with foreign developers.

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