AIEC eyes project launches this year
DAVAO-BASED Anflo Industrial Estate Corp. (AIEC) maintains a “cautiously optimistic” outlook and eyes more locators and project launches this year, its executive said.
In an online briefing on Friday, AIEC First Vice President Ricardo “Cary” Lagdameo said they expect the completion of their one-story commercial building and cold storage this year.
The 800-square meter (sqm) commercial building is set to break ground in March, while its completion is eyed in November.
Their 1,000-sqm cold storage facility, meanwhile, is expected to be completed by April, with 600 pallets to be made available for lease.
Lagdameo said the facility could also be used to store coronavirus disease 2019 (Covid-19) vaccines once the vaccine rollout begins in the region.
“We are open to having vaccines stored here…If there is that need to store vaccines, we would be happy to volunteer ours,” he noted.
He said there are no signed agreements as they want to make sure that the facility is completed first.
Lagdameo also disclosed that they are currently in talks with two foreign companies, both also part of the agro-industrial value chain, interested in leasing space in the industrial park.
Meanwhile, he said they had to reduce their capital expenditure budget for the year, with the bulk going to the outgoing structures at around 70 percent, while the rest would be allocated for land development and road works in preparation for new investors.
Meanwhile, the property market in Davao remains promising, especially to condominiums, according to Colliers Associate Director for Research Joey Bondoc.
Bondoc said that Davao City is a “storage of wealth” with the capacity for capital appreciation. Investors have been coming to this city for decades and along with it, the demand for residences grew.
The city is also seeing the development of more integrated communities and stands to benefit from infrastructure implementation and decentralization.
He said that the market for condominiums target millennials, “early nesters” and investors who need a place to stay close to their place of work and need ample space to move around.
Given these indicators, Bondoc stressed that Davao will remain competitive even after the term of President Rodrigo Duterte.
with report by AARON RONQUILLO