Metropac Movers, Inc. (MMI), a wholly owned subsidiary of Metro Pacific Investments Corporation (MPIC), has signed an agreement with The Property Company of Friends, Inc. (ProFriends) to purchase several adjacent parcels of land in General Trias, Cavite, to be used as a distribution center.
With a total cost of P1.2 billion, the property acquired, which has an aggregate size of 202,000 square meters, will be used by MMI to develop and manage distribution centers for clients in the fast-moving consumer goods, consumer durables, automotive, and e-commerce sectors, MPIC said in a statement.
MMI is allocating a budget of over P8 billion to develop the property into a 141,000-square-meter covered warehouse space and purchase the equipment to service its clients. The acquisition will complement the 522 brand-new trucks acquired by MMI in the fourth quarter of 2017 and the existing leased warehouse space totaling 207,000 square meters across Luzon, Visayas, and Mindanao, the company added.
MPIC said that along with the Cavite investment is a planned purchase of another 300,000 square meters of land in Bulacan.
The company noted this “will fulfill a much-needed function in today’s fragmented logistics market where resources to efficiently track and deliver goods to all parts of the Philippine Archipelago are still lacking.”
Further, MPIC said, once the projects are completed they will generate jobs for some 7,000 residents of Cavite and Bulacan. This is in addition to the 2,400 employees that are currently operating MMI’s existing warehouses and owned trucks.
In 2016 MPIC partnered with Pasig-based Basic Logistics Corporation to form MMI, envisioned to provide logistics, shipping, freight forwarding, and e-commerce services.