PRIME Philippines, in a special market report cited by BusinessWorld, said the supply of cold storage in Cebu is tightening, with a vacancy rate of only 2% of the estimated 105,600 square meters of leasable pallet positions.
The shrinking vacancies at temperature-controlled logistics providers were attributed to rising port activity and changing consumer supply chain preferences. The report highlights the growing demand for cold chain services in the region, driven by increased trade and shifting consumption patterns.
Meanwhile, warehouse lease rates in Cebu remain stable despite the tightening cold storage market, according to PRIME. This stability suggests that while cold storage faces supply constraints, the broader industrial leasing market has not seen similar pressure.