Luzon a new investment hot spot
Luzon, the Philippines’ largest island and northernmost region, has developed into a new investment destination, according to a report released by property company CBRE on April 24.
The North Luzon Urban Beltway has seen massive infrastructure developments, pushing manufacturing to Clark Freeport Zone (CFZ) and Subic Bay Freeport Zone (SBPZ) and business process outsourcing in Metro Clark, the report said.
CBRE also sees renewed demand for manufacturing, BPO and residential sites in Central Luzon as the economy of the region continues to grow.
The presence of the North Luzon expressway, the Subic-Clark-Tarlac expressway and the Clark International Airport has driven investors to pour multiple high-value investments in Clark and Subic, such as Texas Instruments and Hanjin.
“The Northern Luzon Urban Beltway is transforming its landscape into a high potential investment destination. This is largely brought about by infrastructure developments that paved way to increased economic activity in Central Luzon as businesses started expanding from Metro Manila to its peripheries,” CBRE said.
The report said Japanese and Taiwanese firms are leading the upturm in the manufacturing industry at both zones.
Expansion of Japan’s Yokohama Tires will be completed by 2017 while Ingasco Inc. also of Japan is set to develop a $40 million air-separation plant which aims to support the immediate demand of manufacturing firms in CFZ. Another Japanese company aircraft parts manufacturer, Jamco, is set to invest into a facility to produce commercial aircraft interior components and subassembly parts.
Robinsons Land Corp. will infuse $300 million for a new branch of Go-Hotels chain in Clark while Megaworld Corp. is reported to have made a deal with Clark Development Corp. to develop 550 hectares of the former US military property into a mixed use complex. SM Prime Holdings is also adding 89,000 square meters of floor area to its SM Clark Mall.
Subic Bay Freeport Zone is gaining recognition for its leisure tourism developments especially with its beaches and other destinations like Treetop Adventure, Zoobic Safari, and Ocean Adventure.
Tourist arrivals grew from 593,000 in 2010 to 1.7 million in 2011 which spurred retail activity. Last year, Ayala opened its mall Harbour Point inside SBFZ while a new SM opened in Olongapo City.
Central Luzon region recorded 16,000 foreign citizen households in 2010, ranking third in the country, next to the National Capital Region and the Autonomous Region of Muslim Mindanao.
[caption id="attachment_8566" align="alignleft" width="300"] Subic Bay International Airport[/caption] Luzon, the Philippines' largest island and northernmost region, has developed into a new investment destination, according to a report released by property company CBRE on April 24. The North Luzon Urban Beltway has seen massive infrastructure developments, pushing manufacturing to Clark Freeport Zone (CFZ) and Subic Bay Freeport Zone (SBPZ) and business process outsourcing in Metro Clark, the report said. CBRE also sees renewed demand for manufacturing, BPO and residential sites in Central Luzon as the economy of the region continues to grow. The presence of the North Luzon expressway, the Subic-Clark-Tarlac...
Luzon, the Philippines’ largest island and northernmost region, has developed into a new investment destination, according to a report released by property company CBRE on April 24.
The North Luzon Urban Beltway has seen massive infrastructure developments, pushing manufacturing to Clark Freeport Zone (CFZ) and Subic Bay Freeport Zone (SBPZ) and business process outsourcing in Metro Clark, the report said.
CBRE also sees renewed demand for manufacturing, BPO and residential sites in Central Luzon as the economy of the region continues to grow.
The presence of the North Luzon expressway, the Subic-Clark-Tarlac expressway and the Clark International Airport has driven investors to pour multiple high-value investments in Clark and Subic, such as Texas Instruments and Hanjin.
“The Northern Luzon Urban Beltway is transforming its landscape into a high potential investment destination. This is largely brought about by infrastructure developments that paved way to increased economic activity in Central Luzon as businesses started expanding from Metro Manila to its peripheries,” CBRE said.
The report said Japanese and Taiwanese firms are leading the upturm in the manufacturing industry at both zones.
Expansion of Japan’s Yokohama Tires will be completed by 2017 while Ingasco Inc. also of Japan is set to develop a $40 million air-separation plant which aims to support the immediate demand of manufacturing firms in CFZ. Another Japanese company aircraft parts manufacturer, Jamco, is set to invest into a facility to produce commercial aircraft interior components and subassembly parts.
Robinsons Land Corp. will infuse $300 million for a new branch of Go-Hotels chain in Clark while Megaworld Corp. is reported to have made a deal with Clark Development Corp. to develop 550 hectares of the former US military property into a mixed use complex. SM Prime Holdings is also adding 89,000 square meters of floor area to its SM Clark Mall.
Subic Bay Freeport Zone is gaining recognition for its leisure tourism developments especially with its beaches and other destinations like Treetop Adventure, Zoobic Safari, and Ocean Adventure.
Tourist arrivals grew from 593,000 in 2010 to 1.7 million in 2011 which spurred retail activity. Last year, Ayala opened its mall Harbour Point inside SBFZ while a new SM opened in Olongapo City.
Central Luzon region recorded 16,000 foreign citizen households in 2010, ranking third in the country, next to the National Capital Region and the Autonomous Region of Muslim Mindanao.
