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Four massive mixed-use projects from the country’s top property developers are set to make the Philippines’ real estate industry even more exciting in 2015.
After a strong year in 2014, it looks like the Philippine real estate market is not showing any hint of slowing down. In fact, property developers are unveiling more ambitious projects than their last ones.
Lamudi has listed the most high-profile developments that observers will surely read and hear about in 2015.
The Courtyards, Cavite
Ayala Land
In keeping with Ayala Land’s tradition of building upscale suburban communities, The Courtyards is a 130-hectare development located in Dasmariñas and Imus in the province of Cavite, just south of Alabang, Muntinlupa. The project’s first phase comprises more than 430 lots, ranging in size from 470 to 1,947 sqm, which are currently being sold from Php25,000 to Php40,800 per sqm.
Many say that now is a good time to invest in property around this area (dubbed the Southern Manila West Growth Area), which will see property values surge 10–15 percent annually until 2019, due to infrastructure projects currently underway in the area. In fact, according to Cuervo Far East president and CEO Jose Maria Fernandez-Cuervo, the market value of land in the area could reach as high as Php100,000 per sqm by 2019.
Alviera, Porac, Pampanga
Ayala Land
This large-scale project, a partnership between Ayala Land and Leonio Land, is envisioned to be Central Luzon’s growth center. Located in Porac, Pampanga, this 1,125-hectare integrated mixed-use development will have: commercial, business, and industrial districts; educational zones; retail segments; and sprawling residential neighborhoods, much like Ayala’s successful Nuvali project. The real estate giant announced that it is investing Php75 billion into this project.
City de Mare, Cebu
Filinvest Land Inc.
This 50-hectare, mixed-use township, set to rise on a reclaimed area along Cebu City’s South Road, will comprise 70 percent residential, 20 percent retail and 10 percent office segments. Its developer, Filinvest Land Inc., announced recently that it is increasing its investment into the project, from Php15 billion to Php35 billion, on the heels of a revised master plan to accommodate more office developments. According to Filinvest CEO Josephine Gotianum-Yap, the company is looking into integrating a hotel component into the project as well, to take advantage of Cebu’s fast-growing tourism industry.
Suntrust Ecotown, Tanza, Cavite
Megaworld Corp.
Megaworld Corp.’s wholly owned subsidiary Suntrust is investing Php5 billion into this 200-hectare, mixed-use development, which will cater primarily to export-oriented industries. However, the project will also eventually include residential, commercial, and institutional components.
According to Suntrust President Harrison Paltonga, Suntrust’s initial investment into the project will be used for construction costs and land acquisition. The estate will initially offer 254 and 47 industrial and commercial lots, respectively (equivalent to 111 hectares), of which more than 24 percent is already sold, with lot prices around Php5,000 per sqm. The zone is also accredited by the Philippine Economic Zone Authority, which will entitle locators to fiscal incentives. The development is expected to ease congestion at the Port of Manila, as it is easily accessible from the Batangas port.
