PRIME Orion Philippines Inc. (Popi), now part of Ayala Land Inc., said it is diversifying its real-estate portfolio to include industrial park and property logistics.
The company recently acquired a majority stake in Laguna Technopark Inc. (LTI), a prime developer of real-estate logistics and industrial parks in the Philippines. It manages the 460-hectare Laguna Technopark in Santa Rosa and Biñan and 135-hectare Cavite Technopark in the municipality of Naic.
“With the Philippines continuously attracting more foreign and local investments in the manufacturing sector, and with LTI’s parks serving as the preferred location for global firms, we plan to expand our parks in the Calabarzon region, and to develop a strong presence in the Central Luzon and VisMin regions, as well,” Popi President Rowena Tomeldan said.
To boost its logistics business, Popi said it is trying to maximize the value of its 14-hectare Lepanto property in Calamba, Laguna, by shifting Lepanto Ceramics’s focus from tile manufacturing to real-estate warehouse operations.
The company said it upgraded the common areas of its Lepanto Industrial Complex, initiated a phased rehabilitation program and converted formerly non-leasable areas into leasable spaces.
The company, however, said that, despite the expansion and development, its Tutuban property in Divisoria, Manila remains the symbol of Popi’s transformation.
Popi recently completed the refurbishment of the Tutuban railway station building into a model for adaptive reuse of a built heritage site.
Major facility upgrades, the rezoning of the mall and the introduction of unique retail and wholesale concepts, all enabled the company to improve on profit margins for the year.
The redevelopment of Tutuban Center will also allow it to capitalize on the North-South Railway Project of the Philippine National Railways.
Tutuban, it said, will be at the center of the North Line, South Line and Light Rail Transit Line 2 West rail projects, as the Ayala group transforms Tutuban into an integrated mixed-use development with retail, logistics, offices and other support services
“This is in line with parent Ayala Land’s commitment to develop sustainable mixed-use estates across the country that are centers of growth, connectivity and sustainability,” it said.
“We have aligned our sustainability strategies with our parent company Ayala Land’s four-pillar approach to sustainability. These include growing our local economy through inclusive economic strategies; operating in a more eco-efficient manner; heightening our focus on pedestrian and transit connectivity; and improving the site resilience of our assets against disasters and other major risks,” Tomeldan said.
“In a short span of time, Prime Orion has transitioned into a highly diversified company with a balanced portfolio focused on real-estate logistics, mall operations and industrial development. We will continue to be driven by a cohesive strategy and an efficient structure as we make great strides toward becoming a stronger and more sustainable company,” she added.