The property developer launched last month Phase 2 of Cavite Light Industrial Park (CLIP) which will add 20 hectares of new space. This brings CLIP’s total land area to 70 hectares.
Jeffrey T. Ng, president of Cathay Land, told BusinessWorld in an email that the company has seen rising demand for industrial lots.
“The demand for industrial lots picked up dramatically last year due to the government’s Build, Build, Build program, and locators leaving China due to the ongoing China-US trade war,” Mr. Ng said.
Only 28 lots will be offered at CLIP Phase 2. Lot sizes range from 1,600 square meters (sq.m.) to 2,600 sq.m. at P9,300 per sq.m.
Located along Maguyam Road, CLIP currently hosts locators from pharmaceutical, packaging, technology, trucking, glass, and aluminum industries.
“The prevailing business environment and the continued growth in the local manufacturing industry entail that new business parks must be developed to help this crucial component of the economy foster in the years ahead. Our Cavite Light Industrial Park certainly addresses this need,” Mr. Ng said in a statement.
At the same time, Cathay Land launched the second phase of expansion of Mallorca Villas, a residential subdivision adjacent to the CLIP.
“The commercial and residential components of Mallorca City certainly give an impetus for companies to locate in CLIP since it will also address their executives’ and employees’ housing requirements. Overall, the integration of CLIP into Mallorca City promises a better quality of life to locators and definitely worth the investment,” Mr. Ng said.
Cathay Land said CLIP and Mallorca Villas will be rebranded into a township called Mallorca City.
The company began investing in Silang 15 years ago with the 500-hectare master-planned community, South Forbes Golf City.
In 2018, Cathay Land also launched Acienda Designer Outlet, an international outlet mall developed in partnership with London-based lifestyle retail developer Freeport Retail. It also added two low-rise residential condominium projects, namely Stanford Suites 3 and Fullerton Suites.
Cathay Land is part of the Cathay Group of Companies together with other companies like Cathay Pacific Steel Corp., Cathay Metal Corp., Eurotiles Industrial Corp., Federal Hardware, Ceramic Plaza, and PC Express. — Vincent Mariel P. Galang
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