Ayala unit setting up P1-B logistics hub

Ayala-led Prime Orion Properties Inc. (Popi) is building a new industrial and logistics hub in Biñan, Laguna, the first in its portfolio that would cater to non-Philippine Economic Zone Authority (Peza) locators.

Laguna Technopark, a partnership between Popi and Mitsubishi Corp., launched its standard factory building (SFB) at  Barangay La Loma, Popi disclosed to the Philippine Stock Exchange yesterday.

“The new hub aims to accommodate small-and-medium businesses, as well as clients with growing warehousing and storage needs,” Popi said.

With abut 40 units measuring 1,200 to 1,500 square meters each, total leasable area is expected to exceed 60,000 sqm when completed in October 2020.

Located within the 11-hectare Laguna Technopark, the hub will be the single biggest investment of Laguna Technopark, which earmarked P1 billion for the construction of logistics buildings and warehousing facilities.

The SFP will be available for lease in May 2019.

Earlier this year, parent company Ayala Land repositioned Popi from a niche retail center operator into its logistics and industrial estate arm with a P3-billion share-swap deal that infused Laguna Technopark into it.

By combining Laguna Technopark and Popi, the group created a bigger entity that will pursue real estate logistics and industrial development.

A prime developer of industrial parks, Laguna Technopark owns and manages the 460-ha Laguna Technopark.

Outside technoparks, the group also seeks to develop logistics and warehousing hubs.—DORIS DUMLAO-ABADILLA