Central Luzon is becoming a preferred hub for industrial parks in the country with 307 hectares of industrial space set to be unveiled, according to property consultant Colliers.
Colliers said as infrastructure connectivity improves and more integrated communities rise in the region, the prospects of putting more industrial space in the area also increased.
“Central Luzon is also one of the fastest growing regions, making it a viable consumer base for manufactured goods. Colliers believes property firms should continue developing industrial parks and modernizing warehouses in Central Luzon to capture the region’s economic expansion and continued industrial space takeup from manufacturing locators,” said Joey Roi Bondoc, Colliers associate director of research.
Bondoc noted top-tier developers like Filinvest Land Inc. and Ayala Land Inc. led the pack in industrial space development in the region with more seen to follow.
Colliers said with this, Central Luzon will be playing a vital role in attracting job-generating manufacturing investments.
“The region’s industrial parks and facilities are alternative options to traditional sites and warehouses located south of Luzon. The Department of Trade and Industry is currently pitching Central Luzon as a manufacturing and logistics hub, highlighting growth opportunities in Pampanga’s New Clark City, Bataan’s Freeport Area, and Tarlac’s Luisita Industrial Park,” it said.
Singaporean firms are also keen on investing in the Filinvest Land’s Filinvest Innovation Park in New Clark City. The first phase of the industrial hub is now accepting locators, particularly companies involved in logistics, e-commerce, light manufacturing, and data center operations.
“Colliers recommends that developers and locators keep an eye on the completion of industrial parks and facilities in Central Luzon. From 2022 to 2024, we see the completion of about 307 hectares of new industrial space particularly in Pampanga, Tarlac, and Zambales,” Bondoc said.
Colliers believes the modernization of Clark I nternational Airport should raise the attractiveness of Central Luzon for more manufacturing and logistics investments. The development of passenger railways such as the Manila—Clark Railway, as well as cargo railway systems should also support the expansion of industrial activities in the region.
Other big-ticket infrastructure projects that will likely spur growth in Central Luzon include Skyway 3 and Central Luzon Link Expressway.
