JLL said the opportunities for the logistics sector stemmed from the growing cold storage demand and the growing e-commerce landscape in the country.
In JLL’s latest research, “The Evolution of Philippine Logistics: A Case for Better Quality Logistics,” the firm found that the “demand for logistics space in the Philippines has been generally positive, but addressing the increasing demand for better quality facilities from new entrants in the market could translate to approximately 160,000 square meters per annum of new demand in the next 10 years.
“The logistics sector is currently seen as the evolving asset class in the Philippines, with a number of established developers looking to increase their exposure in the sector. Focus on efficiency, specification, sustainability, and amenities puts the market at a turning point for growth and improvement in quality,” he added.