Insights

Inside the Philippines: May 2022

Optimistic Outlook: Robust Philippine GDP growth to outpace regional peers

IMF expects the Philippines to be the fastest growing among the ASEAN-5 in 2022

ADB sees robust domestic demand fueling Philippine growth in 2022 and 2023


Deal Spotlight: PLDT raises USD 1.5 billion from landmark tower sale; PLDT’s Voyager reaches unicorn status

PLDT offloads 5,907 towers for USD 1.5 billion in largest Philippine asset sale to foreigners

Voyager raises USD 210 million, becomes the Philippines’ second unicorn


Industry Insight: Return-to-office to accelerate office market absorption

Net absorption in the Philippine office market turns positive in Q1


Gaining Ground: Healthcare outsourcing firms seek to expand Philippine footprint

US-based healthcare outsourcers Anthem and Optum eye expansion of their Philippine operations


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Inside the Philippines: April 2022

Optimistic Outlook: Robust growth eyed for Philippine GDP

OECD expects the Philippines to be the fastest growing economy in Southeast Asia in 2022

Moody’s Analytics raises 2022 Philippine GDP growth estimate


Real Estate Investment Trust (REITs): IPO and acquisitions in the pipeline

VistaREIT expected to conduct an initial public offering (IPO) in the second quarter of 2022

AREIT and RL Commercial REIT set to acquire additional office buildings


Spurring Investments: Amended law allows for full foreign ownership in select sectors

Foreign ownership limits have been lifted in the telecommunications, airlines, shipping, and railway industries


Industry Watch: Local e-Commerce startups gain traction

GrowSari raises a total of USD 77.5M in its Series C round and a total of USD 110M to date

SariSuki raises USD 10.7M in funding from global and local investors

Great Deals E-Commerce lands the top spot in the Financial Times’ ranking of high-growth companies in the Asia-Pacific


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Inside the Philippines: March 2022

COVID-19 Status: Philippines further eases restrictions and vaccinates minors

Metro Manila and 38 other areas further ease COVID-19 restrictions

Philippine Government begins COVID-19 vaccination of children aged 5 - 11


Deal Spotlight: Investments in finance & technology

Local startups close various funding rounds led by international investors


Investments on the rise: Operators show interest in establishing data centers in the Philippines

Data centers viewed as among the high growth areas in the property sector


Sector Watch: Renewable energy REIT IPOs; new sectors to be allowed 100% foreign ownership

Citicore debuts the first renewable energy REIT in the Philippine stock market

Telecommunications and railways services soon to be allowed 100% foreign ownership


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Inside the Philippines: February 2022

On the Upswing: Philippine economy expands by 5.6% in 2021, exceeding government’s target

Philippines’ 4Q 2021 GDP increases by 7.7%, raises full-year growth to 5.6%


Containing COVID: Government eases border controls, extends scope of vaccination program

Government eases border control measures as Omicron wave subsides

National vaccination program to begin inoculating kids aged 5 to 11


Spurring Investments: Foreign retailers face lower entry requirements; BoI targets approval of USD 20B in investments

Amendments to the Retail Trade Liberalization Act (RTLA) lower barriers to entry for foreign retailers

Board of Investments targets to approve USD 20B in investment pledges this 2022


Deal Spotlight: Local startups raise various funding rounds

GrowSari, BillEase, and BreederDAO raise various funding rounds in January


Industry Watch: IT-BPM industry is projected to grow by 7.1% in 2021

Everest Group projects the Philippine IT-BPM industry to grow by 7.1% in 2021

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Inside the Philippines: January 2022

On the Upswing: Philippine GDP growth to outpace regional peers

The Asian Development Bank (ADB) raises its Philippine GDP growth projection for 2022 to 6%


Industry Insight: IT-BPM sector to sustain growth trajectory & drive office space demand

The Department of Trade and Industry (DTI) expects the outsourcing sector to lead the diversification of exports

Outsourcing firms are seen to drive office demand over the medium term

Typhoon Rai (Odette) disrupts Cebu’s IT-BPM sector


Emerging Industry: e-Commerce sector to post 17% annual revenue growth until 2025, attracts foreign funding

Philippine e-commerce sales are projected to hit USD 10.3 billion by 2025

IFC mulls USD 10 million investment in Philippine-based B2B e-commerce platform GrowSari


Investor Interest: PSE named as best bourse in SEA for record deals in 2021

Philippine Stock Exchange (PSE) raised a record PHP 234.5 billion (USD 4.7 billion) last year

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Inside the Philippines: December 2021

On the Upswing: Growth targets upgraded as GDP growth exceeds expectations

Philippine GDP expanded 7.1% year-over-year in 3Q 2021 led by strong household consumption

Goldman Sachs, Maybank, Fitch Ratings, and S&P Global Ratings raise 2021 and 2022 Philippine growth projections


Industry Insight: REITs bullish on the Philippine real estate market

REITs are looking to grow their portfolios and more REITs are expected to launch in the coming years


Logistics on the Move: Acquisitions, investments, and expansions in the logistics space

Ayala Corporation’s AC Logistics is acquiring a majority interest in Air21 and partnering with Glacier Megafridge

LBC Express Holdings is investing up to USD 40M in its wholly owned subsidiary, LBC Express, Inc.

SM Group-backed logistics firm Airspeed is opening three new warehouses as e-commerce demand continues to rise


Emerging Industry: Philippine play-to-earn gaming startup attracts Andreessen Horowitz

Andreessen Horowitz (a16z) led the USD 4.6M investment in the Philippines’ Yield Guild Games (YGG)

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