Cathay Land is expanding phase 2 of its Cavite Light Industrial Park in Silang, Cavite amid the growing demand from foreign manufacturers.
“With the advent of the US-China trade war, we see a lot of foreign manufacturers, even Chinese manufacturers who have traditionally been exporting from China to the US. They are now uncompetitive. So a lot are trying to get out, and we are confident a small chunk of these [investors] who would like to locate to the Philippines,” said Cathay Land president Jeffrey Ng.
Tranches 2 and 3 of the project’s phase 2 will involve 15 hectares of saleable area. It will have a total of 53 lots, with sizes ranging from 1,400 to 4,738 square meters available at P8,550 per sq.m. or about P25 million per lot.
Tranche 3 is up for completion by December 2019 and will be turned over to qualified investors by January 2020. The development of tranche 4 will be announced soon.
“Some have bought their lots already. Some are still under negotiation but every month there are new interested investors who are willing to locate their factories here in the Philippines,” Ng said.