Published July 26, 2021, 7:00 AM
Cold storage is set to sustain its popularity among investment sectors in Philippine property market and is expected to grow by 10 percent this year as demand for vaccines, foods, and import goods will drive activity in cold chain logistics, according to a leading real estate services company and industry players.
Cold Chain Association of the Philippines President Anthony Dizon said during a webinar hosted by Santos Knight Frank, American Chamber of Commerce of the Philippines, and BDO Unibank, that the country’s cold storage industry’s capacity is set to grow by 10 percent in 2021.
According to Dizon, around 50,000 new pallets are to be commissioned this year that will add to the existing 500,000 pallets across the country. An additional 60 percent capacity will be in Luzon while 40 percent will be in Mindanao.
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