Ayala Land’s Prime Orion to put up 2 industrial parks in 2019

Industrial estate developer Prime Orion Philippines Inc. is developing two more industrial parks by the first quarter of 2019, banking on the growth prospects in manufacturing and logistics.

“We are targeting to have two more industrial parks by the first quarter of next year,” Prime Orion president Maria Rowena Manhit-Tomeldan told reporters on the sidelines of the company’s annual stockholders’ meeting in Makati City on Thursday.

The industrial parks will be built in Central Luzon and Northern Mindanao.

“Manufacturing sector is enjoying a growth so we want to be able to seize that opportunity of being there,” she said.

The country’s logistics sector is also growing.

“We have fast take up in our Cavite Techno Park, so that was an indication of the prospects of the industry,” Tomeldan noted.

Meanwhile, Prime Orion is launching an industrial park in Laguindingan, Cagayan de Oro in June this year.

“Our business model is historically ... What we do is we get an initial phase and normally we expand. So 60 hectares, it can expand to 200 hectares, depending on the demand,” Avila said.

The company intends to seize opportunities for its logistics business in Cagayan de Oro as the place has seaports and an airport.

Prime Orion currently has two industrial parks in its portfolio—the 460-hectare Laguna Technopark and the 118-hectare Cavite Technopark.

Property giant Ayala Land has increased its stake in Prime Orion to 63.9 percent in March from 54.91 percent, positioning the company as its logistics and industrial development arm.

“Our goal is to grow the industrial parks and logistics business of Prime Orion,” Tomeldan said.

In 2017, Prime Orion booked a net income of P18.6 million from a net loss of P414.9 million.

Consolidated operating expenses were down from P1.2 billion in 2016 to P693 million last year. —VDS, GMA News