THE Board of Investments (BoI) said it is targeting Japanese developers for industrial and tourism-related land development activities in the Philippines.
“We told them, and as validated by (consultancy) Colliers, development of industrial areas will be a good segment to consider,” BoI Industry Development Services Executive Director Ma. Corazon Halili-Dichosa said via Viber.
“As we get investment queries requiring large areas for manufacturing plants, power generation, or data centers, land development for industrial purposes is a good opportunity,” she added.
She said Japanese developers were also invited to look into tourism-related activities.
The BoI held exploratory discussions on potential opportunities in real estate in the Philippines with Japan’s Ministry of Land, Infrastructure, and Transport and Tourism (MLIT).
“They will bring home the information to their private sector groups and meet with us again,” said Ms. Halili-Dichosa.
She said that the next meeting has no set date, but noted that the MLIT requested copies of the presentations.
According to BoI, the Philippines is an emerging destination for Japanese developers, featuring increasing demand for residential and commercial property.
“The BoI remains steadfast in its commitment to promoting real estate investment, striving to create a more business-friendly environment for investors,” Ms. Halili-Dichosa said.
The MLIT, through its Joint Network for Overseas Real Estate Business program, “is exploring ways to facilitate the expansion of Japanese firms by collaborating with local governments and addressing institutional issues related to the overseas real estate industry.”
Asked to comment, Colliers Research Director Joey Roi H. Bondoc said demand is growing for industrial space in South and Central Luzon as more heavy industry investments come in.
“Previously, industrial locators in Central Luzon were in light to medium manufacturing,” he said.
He said that the more the country attracts high-value investment, the greater the demand for industrial land development.
“Since they are labor and capital-intensive, they will be requiring bigger parcels of industrial parks, not just industrial land but even industrial facilities, like the warehouses, for example,” he added. — Justine Irish D. Tabile