Company behind Clip on lookout for more properties to develop-A A +A
By Mia A. Aznar
Sunday, February 2, 2014
AS the Philippines attracts investors with the investment grade ratings from international credit rating agencies, the developers of the Cebu Light Industrial Park (Clip) are in search of more properties to develop for manufacturing.
Eugenio Milben Estrera, vice president for operations, said there are only two lots available at the Clip facility in Lapu-Lapu City, although 60 percent is still unoccupied. These lots are a little over a hectare.
Estrera explained that these unoccupied lots have owners who have yet to build structures. He said 40 percent of the facility is being used.
Asked what areas they prefer to develop, Estrera said they are looking for land in the Lapu-Lapu and Cordova areas with at least 50 hectares and for the right price.
“We have to strike while the iron is hot. We are at the crest of an economic boom right now,” he said.
The Clip facility currently employs 2,100 employees, including those from newly inaugurated Knowles Electronics Philippines, which announced their target of filling up 3,400 positions by the end of 2014.
Philippine Economic Zone Authority (Peza) Director General Lilia de Lima earlier encouraged developers to build more economic zones to attract more investors, saying many locators consider a location if facilities are in place. They are especially encouraging investments in shipbuilding, car parts and food processing.
They are expecting more investors will consider the Philippines as their next location after the country secured investment grade ratings and are improving in international competitiveness surveys.
“Now the Philippines is noticed, not just by Asian countries like Japan, South Korea and Taiwan but even America and Europe,” de Lima earlier said.
This year, Estrera said there are four companies that will start operating in Clip from the electronics, food and energy generation sectors. They will add to the 19 companies already operating inside the facility.
Clip is a 62-hectare industrial property managed by the Science Park of the Philippines Inc., a stockholder of Clip.
Published in the Sun.Star Cebu newspaper on February 03, 2014.