Ayala Land unit expanding Laguna Technopark

MANILA, Philippines — Prime Orion Philippines Inc. (POPI), a subsidiary of Ayala Land Inc., is expanding its 460-hectare Laguna Technopark by adding an 11 hectare warehouse and logistics facilities in Binan City, Laguna.

It is also redeveloping its 14-hectare Lepanto warehouse in Calamba, Laguna.

The new phase of Laguna Technopark, which will be used solely for warehouse and logistics facilities, will generate over 50,000 square meters in gross leasable area.

 The redevelopment of Lepanto as the preferred logistics hub, meanwhile, is aimed at maximizing the potential of the existing facility by bringing an additional 110,000 sqm of leasable area to the company by 2022.

POPI hopes to expand beyond the current footprint of Tutuban, Muntinlupa, Calamba, Sta. Rosa and Naic.

“With this vision, we aim to support the local economy and benefit more communities,” POPI president and CEO Rowena Tomeldan said yesterday.

POPI reported yesterday that its net income grew to P70 million in the first half, a three-fold increase from P16.4 million a year ago.

The company registered P925.9 million in revenues from P271.9 million last year.  The increase was driven by robust industrial lot sales, improved rental revenue from the warehouse business and higher revenues from commercial properties.

 “We are very happy with our first half results. With the recent acquisition of a majority stake in Laguna Technopark Inc., we continue to evolve and transform POPI into a real estate logistics-focused business,” she said.

POPI has announced plans to venture into real estate logistics and industrial estate development with its acquisition of Laguna Technopark Inc. This is on top of its Cavite Technopark in Naic, Cavite and the Tutuban Center in Manila.

At the Cavite Technopark, industrial lot sales contributed P139.2 million in revenues while leasing revenue from warehouse and malls generated P362.9 million.

With the growth of logistics, there is increasing demand for warehouses and other industrial hubs that can service a wide range of businesses – from imported cars to food.

ALI earlier raised its stake in POPI to 63.9 percent from 54.91 percent previously.  It is open to acquiring an even bigger stake.

Other property companies have also been venturing into the industrial leasing space given the growing logistics industry in the country.