Filinvest Land, Inc. (FLI), the property arm of Filinvest Development Corp. (FDC), plans to expand to logistics and industrial parks as part of its recurring income portfolio to address the growing needs of logistics, light manufacturing, technology, and e-commerce companies looking for support inventory management.
FLI, in a statement, said it intends to expand its service offerings by allocating a portion of its commercial land bank to the development of industrial parks.
This year, FLI will start construction of Phase 1 of New Clark City (NCC), a logistics and industrial park and mixed-use development. Phase 1 comprises 64 hectares of the 120-hectare industrial park development in NCC.
The groundbreaking ceremony for the development is scheduled for May 2019.
Phase 1 of the industrial park is targeted for completion by 2020 with locators expected to start setting up their operations by early 2020.
FLI said it believes the industrial park will help serve companies within the fast-growing logistics industry, particularly in light of the recent trend of Chinese manufacturing companies expanding into the Philippines.
It also believes the 120-hectare Clark industrial park represents a key progress catalyst north of Metro Manila and is a strategic operations hub in Southeast Asia given its proximity to Clark International Airport (CRK). The property will soon be accessible via the New Clark City-Subic-Clark-Tarlac-Expressway Access Road, which is currently being constructed by the government.
Construction of a second access road, NCC-Airport Access Road, has also commenced and is targeted for completion in early 2021. This 19-kilometer road is expected to link New Clark City with CRK. The proposed Manila-Clark Rail project is also expected to connect New Clark City to Manila.
