Introduction
Colliers Philippines believes that it is the industrial sector that will hugely benefit from the trickle-down effect of the Philippine government’s push to promote the country as a manufacturing hub in the ASEAN region. The Purchasing Managers’ Index (PMI), a barometer of the manufacturing segment’s expansion, has been steadily increasing and more manufacturing investments should boost industrial space absorption particularly in the CALABA region and Central Luzon once they materialize. Electric vehicles, semiconductors, and food and beverage (F&B) manufacturers as well as distribution centres will further propel industrial space absorption in the country’s primary industrial hubs. Land leasehold and warehouse lease rates will likely continue to grow at flattish rates over the next 12 months.
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