The transportation and storage sector saw a nine-fold increase in investment pledges to P37.5 billion in 2020 due to increased demand for cold storage for wholesale and retail, and vaccine delivery.
According to a logistics report released by leading real estate consultancy firm KMC Savills, the industry outlook is looking up with the increased need for warehouses, distribution centers, and industrial lots that can support different business operations in the country and in the global scale.
Total investment pledges across sectors monitored by the firm amounted to 107.35 billion, with transportation and storage as one of the biggest investments next to manufacturing at P37.6 billion.
The report noted that demand for highly-specialized cold storage for pharmaceuticals, particularly vaccines, is expected to drive the growth in the sector.
The transportation and storage sectors, according to the Philippine Cold Chain Roadmap 2021-2023, is expected to grow 10 percent to 15 percent in annual capacity increase from the current 400,000 to 500,000 pallets.
Industry revenues are also seen to increase to P20 billion over the next three years to 2023.
