Manila developers expanding into industrial estates

Manila

PHILIPPINE developers are expanding into industrial estates as government moves to make the nation a car manufacturing hub spark interest from Japanese carmakers.

Said Rick Santos, chairman of CBRE Group in Manila: "We haven't seen this kind of interest from Japanese companies since the mid-1990s. The industrial sector gets a boost from robust foreign demand."

That is attracting builders such as Ayala Land and Megaworld Corp, which are now developing industrial properties to diversify their portfolios, recognising…