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Realty, casino, infrastructure firms forecast to enjoy uptick this year

Posted on January 08, 2012 08:09:13 PM [ BusinessWorld Online ]

FIRMS IN the property, casino and infrastructure industry are seen to enjoy a good year on the stock exchange and weather the prolonged global slowdown, online brokerage 2TradeAsia.com said in market report.

Growth will be anchored on this year’s expected rollout of PPP (public-private partnership) projects, which may equal $2.57 billion in required aggregate investments, even as challenges such as foreign risk from dollar-based infrastructure accounts may somehow temper investor mood.

This comes as global economic uncertainties are expected to dampen gross domestic product (GDP) growth for this year to 3.4% from an estimated 3.8% last year, the brokerage firm said.

But for the infrastructure industry, prospects abound for firms looking to participate in PPPs as well as those aiming to outsource labor toward rebuilding efforts in Japan and large-scale infrastructure plans in China.

Specific infrastructure firms to reportedly watch out for include San Miguel Corp., Metro Pacific Investments Corp., and DMCI Holdings, Inc., 2TradeAsia said.

Property stocks are likely to enjoy a boost this year given brisk demand for units across all industry segments, especially in residential, with around 245,000 residential units expected to be erected annually until 2016.

Affordability will remain a crucial factor for residential this year as demand will cnter on high- and mid-rise condominiums, 2TradeAsia added.

Eco-tourism and retirement-tourism may also emerge as “sunrise sub-industries” this year, the brokerage noted.

Megaworld Corp. and Ayala Land, Inc. were chosen as preferred stocks year because of their strong brand recognition and ability to synergize with affiliate firms, respectively.

And a rising industry in the region and at home is gaming and leisure, 2TradeAsia added, pointing to a projected revenue surge of the Asia-Pacific casino gaming market to $63 billion in two years from a mere $22 billion in 2009.

The brokerage pointed to the Bagong Nayong Pilipino Entertainment City in Manila Bay, where four casino-resort complexes are expected to be built in the next few years. -- F. J. G. de la Fuente
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