Dasmariñas Technopark was developed from 1996 to 1998. The years preceding 1996 saw spectacular growth in the industrial sector and industrial lots were selling like hot cakes. First Cavite Industrial Estate, Gateway Business Park, Laguna Technopark and Carmelray to name a few were a big success. The success stories of the industrial park persuaded the owners of FIMA Realty to develop their property into industrial instead of residential.
During the first months of 1997 the brokers were able to sell nine lots even though development is still in the site grading stage. It looks like then that it will be a success just like the other industrial parks that were developed earlier. Even the other industrial parks were then planning for expansion while the First Batangas Industrial Park (FBIP) was in the planning stage.
Then in July 1997 came the Thai financial crisis that quickly evolved into the Asian Financial Contagion. Projects were put on hold, investors run away and a lot of real estate companies went under. The economic growth of the Philippines for the year 1999 was at 1.2%.
By 2006 or ten years after its inception the Dasmariñas Technopark was not even 30 percent sold. Luckily the development cost was internally sourced in the company without any bank loans hence it survived those ten years of low sales without going under.
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