October 7, 2015
Mitsubishi Corporation and Ayala Land Inc. to Develop New Industrial Park in the Philippines
Mitsubishi Corporation (MC) is pleased to announce the launch of a new industrial park in the Philippines. The park, Cavite Technopark, will be developed by Laguna Technopark Inc., a joint venture between MC and Philippine real estate developer, Ayala Land Inc., and will be located on 118 hectares of land in Cavite Province. The project will be executed at a total cost of 41 billion Philippine pesos.
Only 45 kilometers away from Makati City, the heart of Metro Manila’s business districts, this prime location promises easy access not only to a vibrant city center but also to major transport infrastructure such as Manila’s Ninoy Aquino International Airport and the Port of Manila. The setting is ideal for foreign investors seeking to establish export processing zones or set up logistics hubs aimed at the domestic market. Furthermore, this industrial park will be accredited as a special economic zone by the Philippine Economic Zone Authority and occupants will be offered incentives, including tax benefits.
The Philippine economy has been growing steadily, with GDP growth rates of over 6% for the past three years. The population has also grown rapidly, exceeding the 100 million mark in 2014. With an average growth rate of 2% per annum, this demographic trend is expected to continue. The remarkable rate of economic growth, an abundant labor force, and English as one of the country’s official languages, are among the factors that most attract foreign investors to the Philippines.
Established in 1989, Laguna Technopark has already developed a 470-hectare industrial park, Laguna Technopark, in Laguna Province. The high level of economic growth in the Philippines has given rise to a growing demand for industrial parks. This new project will help meet that demand while allowing Laguna Technopark to expand its business.
Drawing on the know-how acquired from the Laguna Technopark project, Ayala Land, Laguna Technopark and MC will work together to facilitate the entry of investors from Japan and other countries seeking to set up operations in these industrial parks and, in so doing, continue to contribute to job creation and overall economic development in the Philippines.
(1) Mitsubishi Corporation
Head Office : 3-1, Marunouchi 2 Chome, Chiyoda-ku, Tokyo
Year Established : 1954
Capital : 204.4 billion yen
Business : Mitsubishi Corporation has seven Business Groups which develop operations in the diverse fields of Global Environment & Infrastructure; Energy; Metals; Industrial Finance, Logistics & Development; Machinery; Chemicals; and Living Essentials; In addition to these Business Groups, MC has also recently established a Business Service Group. Through these Business Groups, MC serves customers around the world in virtually every industry.
Revenue : 7.6 trillion yen (consolidated, as of March 2015)
Employee : 71,994 (consolidated, as of March 2015)
Representative : Ken Kobayashi, President and CEO
(2) Ayala Land Inc.
Head Office : Makati, Metro Manila, Republic of the Philippines
Year Established : 1988
Capital : 2,886 billion yen (106.9 billion pesos, as of December, 2014)
Business : Real estate development, and lease business
Revenue : 2,568 billion yen (95.1 billion pesos, as of December 2014)
Employee : 498 (non-consolidated, as of December 2014)
Representative : Bernard Vincent O. Dy, CEO
(3)Laguna Technopark, Inc.
Head Office : Binan, Laguna, Republic of the Philippines
Year Established : 1989
Capital : 1.5 billion yen (55 million pesos, as of December 2014)
Business : Industrial real estate development, and lease business
Shareholders : MC, 25%; Ayala Land, 75%
(4) Cavite Technopark Development Plan
Location : Cavite Province, Republic of the Philippines
Name : Cavite Technopark
Area : 118 ha
Project Cost : 110 billion yen (4.1 billion pesos)
Estimated Phase 1 Completion : July, 2016
Inquiry RecipientMitsubishi Corporation
Telephone:+81-3-3210-2171 / Facsimile:+81-3-5252-7705