Industrial space developers take advantage of new demand drivers and manufacturing pledges.
Global economic uncertainty and rising interest rates are likely to stifle some firms’ expansion while at the same time the Philippine peso depreciation should improve the competitiveness of export-oriented locators. Colliers sees more foreign investment commitments materializing over the next six to 12 months, supported by the expansion of industrial parks and the planned modernization of facilities in south and Central Luzon.
Colliers encourages developers to corner demand from data centers, especially with the Philippines becoming an attractive hub in the region. Locators should also be quick in securing space in new industrial parks that will be developed in Central Luzon. Meanwhile, developers with warehouses should continue modernizing their facilities to keep up with the demand of locators fulfilling seamless transactions with e-commerce consumers.