Parkwise Leads Philippines Sustainable Growth with $250 Million Mobility Initiative

PATRIZIA and Mitsui, through their APAC Sustainable Infrastructure Fund (A-SIF), have made a significant move to bolster sustainable growth in the Philippines by investing up to USD 250 million in Parkwise Inc., a company developing modern parking facilities. These facilities will integrate electric vehicle charging stations and rooftop solar solutions to meet the growing demand for parking driven by urbanization and increased private vehicle ownership. This partnership reflects PATRIZIA's strategy to combine real estate and infrastructure assets, enhancing urban mobility and social infrastructure across major Philippine cities. Parkwise aims to address the congestion issues in cities such as Manila by providing strategic off-street parking facilities co-located with social precincts. The investment forms part of A-SIF's strategy to capitalize on growth opportunities driven by energy transition and urbanization, aligning with PATRIZIA's long-term asset management goals.