ICCP Group Sees Growth in townships, industrial estates

ICCP Group is seeing continued growth in its property development business particularly through Science Park of the Philippines, Inc. and Pueblo de Oro Development Corporation.

“Industrial estates was the first thing we did in property. We started in 1989 after we saw a number of foreign companies who wanted to come in but the scene was chaotic for them,” said Guillermo D. Luchangco, ICCP Group Chairman and CEO.

“I decided to start the business of industrial estates. We made sure there’s power, water… We also managed the estate.”

SPPI, a member of the ICCP Group, has developed six industrial parks, starting with the 178-hectare Light Industry & Science Park I (LISP-I) in Cabuyao, Laguna. LISP I was said to be the first privately-owned industrial estate to operate as a Special Export Processing Zone under the Philippine Economic Zone Authority.

“After we sell our industrial estate, we offer to continue managing it for a fee. But profitability is not the main objective, we make a lot more in building and selling estates than by running them. The reason for that is we want to make sure the quality of the estate does not deteriorate… In all our estates that we have turned over, they have chosen us to manage it,” Mr. Luchangco said.

SPPI’s other industrial estates include LISP II in Calamba, Laguna; LISP III in Sto. Tomas, Batangas; Hermosa Ecozone Industrial Park in Hermosa, Bataan; and Cebu Light Industrial Park in Mactan, Cebu. The latest project is LISP IV in Malvar, Batangas.

“The newest is LISP IV in Malvar. That’s being developed now. We have sold some areas and developing other areas,” Mr. Luchangco said, adding that Pueblo de Oro is developing a residential community next to the industrial estate as part of a “live-work” community concept.

Pueblo de Oro Development Corporation, a sister company of SPPI, has also been recording steady sales and growth over the same period.

Source: BusinessWorld