ARTICLES

The Outlook 2018

The Outlook 2018 by Lamudi, co-presented by Philippine Daily Inquirer Property was a comprehensive overview and analysis of the Philippine real estate industry. The event was held last November 15 at the Makati Shangri-La.

The country’s best real estate companies and projects were recognized during the event, which was graced by esteemed leaders and experts in the sector. Keynote speakers from the industry also hosted talks on their respective expertise. The Philippines Buyers’ Choice Property Awards culminated the day-long event.

The Outlook 2018 Magazine captures the significance and highlights of the annual event, while also bringing together all the important insights and trends in the Philippine real estate market.

The Selection of Winners

Real estate developers nominated their prominent projects under various categories. An esteemed panel of judges assessed the projects, according to the information provided in the nomination forms, rating the entries based on the criteria included in the category-specific score sheets.

The shortlisted projects for each of the awards in the Condominium, House, and Mixed-Use categories were then subjected to a survey involving thousands of property seekers, who were grouped in a way that ensured they would only vote in categories that matched their search interests. By doing so, The Outlook 2018: Philippine Buyers’ Choice Property Awards reflected the pulse of the Filipino property buying market.

The winners of the Best Developer, Special, and Personality of the Year awards, meanwhile, were determined by the judges themselves.


The Judges

The Outlook 2018 by Lamudi, co-presented by Philippine Daily Inquirer Property, hosted the Philippine Buyers’ Choice Property Awards, the first buyers’ choice property awards in the Philippines, with the support of an independent panel of judges composed of some of the most esteemed names in the country’s real estate industry.

Atty. Lloyd Christopher Lao CEO and Commissioner Housing and Land Use Regulatory Board
Cathy Saldana President Arco Group
Sheila Lobien Chairwoman European Chamber of Commerce Women in Business Committee
Ivy Almario Founder Atelier Almario
Alejandro Manalac Chairman and Co-Founder Havitas Developments
Jean De Castro Chief Executive Officer ESCA Incorporated
Eric Manuel Philippines, Investment &
Asset Management
ARCH Capital
Michael McCullough Managing Director KMC Savills
GUEST JUDGE
Theresa Samaniego Editor Philippine Daily Inquirer Property
GUEST JUDGE
Amelita Remo Writing Editor Philippine Daily Inquirer Property

EVENT HIGHLIGHTS

 

Honoring the Best of Philippine Real Estate at The Outlook 2018

On its second year, The Outlook 2018 once again recognized the best real estate developers and projects that made the biggest impact in the local real estate industry in the past year.

Positive Growth Outlook for Lamudi

Lamudi Co-Founder and Global CEO Kian Moini opened the evening with an announcement that Lamudi recently welcomed two new investors, leading global media companies Axel Springer SE and Ringier. According to Moini, “the majority of funding can and will be spent on growth given the company’s comfortable financial situation and a clear path to breakeven.”

This latest round of funding will also drive the aggressive growth path of Lamudi in the country, further supporting its lead in the market. “It will fast-track our development into the provinces and help bring more industry practitioners online, thus making sure their businesses flourish. We are connectors and we believe that through digital, we bring transparency to the real estate market. This funding is going to help us move the needle much further in this regard.” Lamudi Philippines CEO Bhavna Suresh said.

 

Promising Future for Local Real Estate

Apart from the awarding ceremony, The Outlook 2018 also brought together some of the country’s leading minds to discuss the general state of the local real estate sector and where it is headed.

Budget Secretary Benjamin Diokno delivered a speech on the country’s sound economic fundamentals and sustained investment grade rating. According to Sec. Diokno, “these factors are enabling the Philippines to remain resilient.” He also remarked that real estate activities and construction are considered “engines of growth” that support the country’s growth momentum.

Meanwhile, Bangko Sentral ng Pilipinas Deputy Governor Diwa Guinigundo shone the spotlight on real estate as a key driver of economic growth—underscoring that the industry is far from overheating and that the central bank sees no evidence of asset price bubbles.

Lastly, Ambassador Jose Santiago L. Sta. Romana, Philippine Ambassador to China, discussed strengthening China-Philippine relations and the cross-border opportunities that have opened up, particularly in the property sector.

 

The Outlook 2018 Awardees

Ayala Land, Inc. and Megaworld Corporation were the big winners of the night as they were awarded as Best Developer of the Year for Luzon, and Visayas and Mindanao, respectively. Ayala Land, Inc. and its subsidiaries also took home three other awards, including both awards for Best Premium Condo of the Year in Visayas and Mindanao for Alveo Land Corporation’s Solinea and Best Affordable Condo of the Year in Visayas and Mindanao for Amaia Steps Mandaue. In Luzon, Avida Land Corporation’s Avida Towers Asten won the Best Premium Condo of the Year award for Trust and Reputation of Developer.

Meanwhile, Andrew Tan-led Megaworld Corporation was also highly-recognized for its township developments around the country, with the Iloilo Business Park winning the Best Mixed-Use Development in Visayas and Mindanao and McKinley Hill bagging the award for Best Mixed-Use Development in Luzon for Amenities and Location.

Filinvest Land, Inc. also took home two awards under the Luzon categories: Best Premium House of the Year for Claremont and Best Affordable Condo of the Year (Value for Money) for Sorrento Oasis.

SM Prime Holdings, Inc.’s Executive Director and President Jeffrey Lim was named The Outlook 2018’s Personality of the Year. Mr. Lim was chosen by Lamudi for his unwavering commitment to improving the quality of lives of Filipinos and his contribution in helping put the country on the map from an investment point of view through the company’s integrated developments across the country.

The company’s SM Mall of Asia Complex also won the award for Best Mixed-Use Development of the Year in Luzon for Investment Opportunity.

 

Partners and Sponsors

The Outlook 2018’s Premium Sponsor is Regus. Other event partners include JLL, ContractWorld Furniture, eCompareMo, ArcoGroup, ESCA Incorporated, Urban Land Philippines Institute, FIABCI International Real Estate Federation, Italian Chamber of Commerce in the Philippines, Havitas Developments, LORCAtecture Corporation, KMC Savills, and British Chamber of Commerce Philippines.

The event’s media partners are Business Mirror, Business World, CNN Philippines, Malaya Business Insight, Manila Standard, The Manila Times, and The Philippine Star.

 

The Outlook 2018

With The Outlook, Lamudi is looking forward to creating more avenues for the real estate industry to evolve alongside the changing local and global property development landscape. This is especially true at a time where property seekers are evolving faster than ever before—posing a challenge to the industry to keep up and remain steadfast.

“We hope that The Outlook may continue to push all of us in the real estate industry to keep breaking barriers and raising the bar higher every chance we get. Hand-in-hand, I believe that through our collective efforts to achieve and do better every time, we can create a culture of excellence that will inspire everyone and elevate the industry,” said Lamudi Philippines CEO Bhavna Suresh in her closing speech.

Market Overview

by Des Arellano

With the country’s gross domestic product showing no signs of slowing down, the Philippine economy remains among the most robust in Southeast Asia, the effects of which is evident in many industries like real estate.

Real estate growth in the Philippines can be attributed to the increase in demand for housing from a rapidly growing urban population. The demand is spilling over to second-tier and third-tier cities all over the country.

While remittances of Overseas Filipino Workers are being allotted for basic necessities, debt payments, and educational requirements, a growing portion of this is now being set aside for investments, such as property acquisition.

Speed and connectivity challenges notwithstanding, internet penetration in the Philippines is at an all-time high, with majority of the population accessing the World Wide Web via a mobile device. This has paved the way for the growth of the freelance industry, wherein one can work from any place with a fast and stable internet connection. Another effect of high internet penetration in the country is the emergence of e-commerce as a viable shopping and selling option to traditional brick and mortar stores. As a result, a greater demand for co-working spaces and warehousing and logistics hubs is foreseen in the coming years. Internet access is also changing the way Filipinos search and select properties.

Investors and property developers will be taking advantage of the opportunities brought about by government projects and policies such as the Build, Build, Build Program, the Comprehensive Tax Reform Package 1 and 2, the relaxation of foreign ownership limits, and amendments on existing procurement laws and business registration systems. The latter two will look to make the cost of doing business in the Philippines lower, and the processes more efficient.


The Philippines 2018 Market Snapshot

AN EXCLUSIVE RESEARCH BY JLL

PHILIPPINE ECONOMY AT A GLANCE

The rising inflation rate, interest rate, and Philippine Peso depreciation were some of the headwinds experienced by the Philippine economy in recent periods. However, the country managed to maintain a moderate growth registering 6.1% gross domestic product (GDP) in 3Q18 backed by the positive performance of manufacturing, trade, construction, and services sectors. Overseas Filipino (OF) remittances continued to increase 2.5% y-o -y, reaching USD 21.3 billion from the January to September 2018 remittances. In general, the Philippine property market remained to be resiliently backed by the healthy performance of the different asset classes. Despite this, the industry still faces some challenges as development completions have been deferred owing to manpower constraints in the construction industry.

 

METRO MANILA PROPERTY MARKET OVERVIEW

The office property market showed a positive trajectory with an average vacancy rate of 6.0%. The Offshoring and Outsourcing (O&O) remained as the key office space demand driver, which is further supported by Manila regaining its second ranking in Tholon’s 2018 Super Cities for outsourcing operations from its fourth ranking in 2017. Likewise, the upsurge of investments from mainland Chinese firms spurred the growth of online gaming business in the Philippines with 57 registered Philippine Offshore Gaming Operators (POGO) with PAGCOR, exponentially increasing office space requirements, especially in the Bay Area. Other emerging demand drivers of office space include technology-based companies such as e-commerce and flexible workspace operators, adapting to the evolving consumer behavior across the globe. As of 3Q18, an estimate of 7.5 million sq.m. of office space is present across all districts in Metro Manila from office developments classified as Grade A to Prime. Majority of the existing stock is found in the district of Taguig City including Bonifacio Global City (BGC), McKinley Hill and McKinley West with a consolidated market share of 28% to Metro Manila’s total supply. This is followed by the districts of Makati City and Pasig City, accounting for 19% and 16% of the total market share, respectively.

The domestic consumption has driven the economy of the Philippines and has been supporting the retail sector, backed by the expanding the purchasing power of Filipinos with the upsurge of OF remittances and the additional employment from the O&O sector. Further, local and foreign retailers see opportunities of the country’s growing urban population and rising middle-income earners prompting them to enter and expand operations in the country. Retail supply consequently adopts to the increasing demand recording a total retail shopping center stock recording 6.5 million sqm of GLA as of 3Q18. Majority of the existing supply is found in Quezon City, capturing the most populous city in Metro Manila. The healthy performance of the retail sector is evidenced by the average vacancy rate of shopping centers in Metro Manila posting 2.0% in 3Q18. The robust growth of the retail sector is likely to continue until 4Q18, as landlords and tenants take advantage of the generous spending of Filipinos during the holiday season by opening more stores during the said period.

Conditions in the residential condominium market remained solid with local and foreign high net worth individuals leading the demand for the luxury price segment, while mid-income earners and OF families taking up units in the mid-range segment.

In addition, the influx of investors from mainland Chinese firms and individuals has significantly pushed selling prices of units marking exponential growth of residential property prices mainly in the Bay Area. Healthy performance of Metro Manila’s residential condominium is supported by the Bangko Sentral ng Pilipinas’ (BSP) residential real estate prices index recording 8.0% y-o-y growth in 2Q18, showing residential property prices increase due to healthy demand for residential units. On the leasing market, expatriate employees from O&O and MNCs continued to thrive occupancy of residential units particularly in Makati CBD and BGC. Total stock of residential condominium units is estimated at 325,000, with majority found in Quezon City (20%) followed by Makati City (19%) and Taguig City (13%), while the remaining 48% is found in other districts of Metro Manila. The Philippine government’s aim to boost the foreign tourist arrivals has been supportive of the occupancy rates of rooms in the hospitality sector with recent statistics reveal 8.3% y-o-y growth at 5.0 million arrivals from January to September 2018. The presence and expansion of O&O sector and other MNCs has fueled the demand for hotel rooms, where foreign employees typically need room accommodations for official business trips mainly in the key business hubs. Movements across different asset classes brought by the rising investor interest in the country prompted the need to have temporary room accommodations for businessmen. On a different note, the occupancy of hotel rooms in the Entertainment City of Bay Area has been mainly from casino players. In 3Q18, the total number of rooms in Metro Manila is approximately at 35,500 with Makati City as the leading source in terms of stock accounting for 25% of the total market share, while the consolidated room supply in the cities of Pasay and Parañaque comprise 27% of the total hotel room stock in Metro Manila.

 

OUTLOOK IN THE COMING YEARS

In general, the Metro Manila property market is seen to maintain an upward trajectory despite the recent headwinds in the Philippine economy. The real estate market remains to be resilient, exhibited by the modest performance on the demand side and the Philippines maintain positive investment environment from credit rating agencies’ view. However, it is noteworthy that construction delays have slowed down supply additions in recent periods. In the office sector, the Philippine cities’ improved rankings in Tholon’s 2018 top outsourcing destinations coupled with the skilled labor pool is likely to thrive office occupancy in the near-term. Similarly, the continued investor interest from mainland Chinese’ online gaming firms and the evolution of technology companies in adapting to the population’s expanding consumer behavior may contribute to changing the office landscape. The retail sector is likely to be driven by the Filipinos’ robust consumer spending, supporting the expansions of both local and foreign retailers. Other than this, the government’s re-evaluation of policies for foreign companies in setting up shops may inject more overseas investments in the country. The residential sector is seen to maintain a stable growth with the Filipinos’ expansion of midincome earners as well as high net worth individuals both local and foreign individuals being the demand driver in the luxury segment. The hotel sector is to benefit from the continued increase of foreign tourist arrivals in the country. To add, the government’s infrastructure push on the Build, Build, Build program may also be a driver of the sector, providing access to key areas in the country.


Local Market Overview

by Angelo Tan

The Philippines continues to be one of the most progressive economies in South East Asia. Its growth rate is expected to go on at 6.7% annually for both 2018 and 2019. The World Bank projects the country to continue to expand at a rate of 6.6% in 2020. This can be sustained provided that the administration’s ambitious infrastructure projects are successfully implemented. Better quality jobs with corresponding real wages will also be instrumental for shared prosperity.

 

POPULATION

 

There was an increase of about 8.6 million persons from 92.3 million in 2010 to around 100.9 million in 2015, according to the 2015 Population Census. It indicates an annual population growth rate (PGR) of about 1.7% every year. That would amount to an increase of 17 persons annually for every 1,000 based on the previous population count. Interestingly, this is lower than previous decades.

The annual PGR between 2000 to 2010 yielded 1.9%. Both these rates, however, are lower than the years studied in between 1990 to 2000. That decade resulted in a 2.3% PGR. More than half of the 2015 Population Census resided in Luzon at 56.9%, with Mindanao at about 23.9%, and Visayas at 19.2%. Unsurprisingly, the most populated region in the country is NCR at 12.9 million. In contrast, the least populated is the Cordillera Administrative Region at 1.7 million.

Out of the 81 provinces in the Philippines, 27 of these have a population of more than a million. Cavite, Bulacan, and Laguna are the most populated provinces with 3.68 million, 3.29 million, and 3.04 million respectively. Outside Luzon, it was the province of Cebu that had the highest number of residents at 2.94 million persons. The tally does not include the three highly urbanized cities of the province. Note, however, that the country’s projected population is already at 106.2 million as of the second quarter of 2018.

 

DEMOGRAPHICS

There is about the same number of males as females in the total population at a ratio of 102 to 100. This translates to a proportion of 50.6% males to 49.4% females. The Philippine Statistics Authority (PSA) reported a similar sex ratio for 2010. When it came to age, the largest groups were the 0- to 4-year-old and 5- to 9-year-old brackets. The country’s median age was pegged at 24.3 years old. This was slightly higher than 2010’s figure at 23.3 years of age. The NCR contained the oldest median age at 26.2 years old.

 

GDP OF THE PHILIPPINES

The country’s economy is presently developing at its capacity. To maintain its growth rate, the government must be able to execute its infrastructure projects. President Rodrigo Duterte’s “Build, Build, Build” infrastructure program is anchored on its 75 Flagship Projects. The administration’s 10-Point Socioeconomic Agenda is designed to reduce poverty and increase infrastructure development. This, in turn, will encourage the creation of more jobs, provide better incomes, and encourage investments.

For the second quarter of 2018, the Philippine economy rose by 6%. This was mainly attributed to construction, manufacturing, and trade. Among the economic sectors, it was services that had the most rapid rise at 6.6%.

 

PREVIOUS YEARS

GDP has been growing by more than 6% annually since 2012. The last time it was below this level was in 2011, when it was at around 3.6%. According to the World Bank, the Philippines has maintained the following annual GDP growth rates:

  • 2012: 6.68%
  • 2013: 7.06%
  • 2014: 6.14%
  • 2015: 6.06%
  • 2016: 6.87%
  • 2017: 6.68%

There is no reason to doubt that the country will deviate from its strong trajectory as 2018 comes to a close.


PHILIPPINE REAL ESTATE MARKET: TRENDS AND TECHNOLOGY

by Riena Solacito

The real estate industry in the Philippines continuously catches up with its neighbor countries’ advancement. This means implementing what works for them while the journey of discovering what might work in a Filipino market continues. Here are the visible trends and technologies happening in the Philippine real estate market:

 

SMALLER SPACE

 

A typical Filipino family usually opts for a house and lot, but for the millennials that comprise half of the current working population in the country, this could be a different story. Because of work opportunities and the increasing population in Manila, plus the worsening condition of city traffic, the demand for a high-rise space where people can live comfortably and pay on reasonable terms continues to escalate. Lamudi Philippines CEO Bhavna Suresh said, “What’s happening with a lot more millennials in the picture is the searches for condominiums are increasing. They want things smaller but closer to their workplace.”

 

COMMERCIALIZED RESIDENTIAL SPACES

Another reason for the increasing number of real estate properties is the thriving tourism industry in the country. In July this year, the Department of Tourism (DOT) announced that the Philippines had an all-time high record of 3.7 million foreign tourists for the first half of 2018 — 10.4% higher than the previous year. This surge led to the unceasing higher demand for both commercial and residential properties, especially in highly popular cities like Cebu, Bacolod, Palawan, Davao, and Bohol. Most property owners take advantage of this and turn their real estate investments to businesses by renting out their units to vacationers.

 

TOWNSHIP AND INDUSTRIAL HUBS

Mixed-use developments are no longer inclusive to CBDs alone. Small urban communities are being built outside of the National Capital Region. Promising provinces are getting their own “township” providing a modern lifestyle for work and unwinding. Because of the good standing of the Philippines in terms of tourism, major property developers are giving people more reason to stay and enjoy. Prospering provinces such as Laguna, Batangas, and Cavite are also starting to host industrial parks, producing more work opportunities for its residents and those from nearby towns, thereby lessening the congestion in Metro Manila.

 

SUSTAINABLE LIVING

Sustainability increases a property’s worth, and today’s smarter generation knows their priorities well. Having eco-friendly features and amenities is another trend most properties implement in their latest residential and commercial developments. Having sustainable features is a one-time, big-time investment beneficial for both the developer and the property owner, plus the environment, in the long run. This includes the use of solar panels as a source of energy, overhead water tanks, and underground cisterns for ample water supply, rainwater catchment systems, and sewage treatment plants for water reuse, low-emissivity glass windows to maximize the natural light, and high ceilings for proper ventilation.

 

SMART HOMES

Smart homes are starting to make their way to the Philippine real estate scene. Like smartphones, these homes utilize technology to improve safety and add convenience in simple steps. Some condo units in the Metro equip their homes with an automation system that uses motion sensors to switch on and off the appliances and other devices inside the property. Others have an audio-video entry system and a control system via mobile phones through which owners get to view and take control of their units’ security system and selected devices, such as the thermostat for the room temperature, CCTV camera direction, doors, and house lights even from outside their units. Another highlight of some buildings is the Automatic Fire Suppression System (AFSS), which quells fire even without human intervention.

 

ONLINE PORTALS AND SUPPORT

According to a PayPal study, more and more Filipinos shop online. From a total online spending of Php 92.5 billion in 2017, an increase of 32% is expected this year to Php 122 billion. This may be the same reason why there is growth in the e-commerce industry, including the sprouting of several real state portals. As a fast-rising platform and a new way of offering land properties to potential buyers, online real estate portals also make presentation, negotiation, and selling easier, as all the information may be accessed with a few clicks.

Online real estate platform Lamudi.com.ph helps property seekers enjoy the convenience of window shopping for available properties for rent or for lease, a house and lot or condo unit, for business or for residential use, in any area they desire. Chat messaging is available as well, assuring assistance and responses to any queries.


INTERNET PENETRATION AND USAGE IN THE PHILIPPINES

by Des Arellano

Internet usage in the Philippines has come a long way

From having just 2 million users in 2000, the Philippines now ranks 12th worldwide in terms of having the highest number of Internet users, according to Internet World Stats. This translates to 67 million Filipinos, or an internet penetration rate of 63%. Of the 67 million, 61 million access the Internet through a mobile device.

The Philippines joins the ranks of China, with 772 million users; India, 462 million; the United States, 312 million; Brazil, 149 million; Indonesia, 143 million; Japan, 118 million; Russia, 109 million; Nigeria, 98 million; Mexico, 85 million; Bangladesh, 80 million; and Germany, 79 million.

The Philippine government is working to make internet more accessible to more Filipinos. In August 2017, President Rodrigo Duterte signed into law Republic Act 10929, also known as the Free Public Internet Access Program. The law covers public places like government offices, state universities, hospitals, and parks, among many others. The funding for the project will come from the Free Public Internet Access Fund, under the Department of Information and Communications Technology (DICT).

United Kingdom-based consultancy We Are Social said in its Digital 2018 report that Filipinos spend an average of three hours and 57 minutes daily on social media sites, mainly on Facebook. There are 67 million Facebook accounts in the country, which matches the number of internet users in the Philippines. Rappler reports Iloilo City has the highest number of Facebook users, followed by Cebu City, Makati City, Manila City, and Quezon City.

On the contrary, the Japanese spent the least time on social media, with an average of 48 minutes per day.

Overall, Filipinos spent an average of 9 hours and 29 minutes on the internet daily, second only to Thailand, which clocked in at 9 hours and 38 minutes daily.

Apart from social media, Filipinos’ top online activities include watching videos, playing online and mobile games, location-based search, and online shopping.

E-commerce in particular is a big growth area. Filipino consumers as of end-2017 spent around $2.16 billion shopping online. A significant portion of this, or $642.6 million, was for travel expenses, while $543 million went to electronic goods. Filipinos spent the least on digital music, at $12.9 million.

Filipinos have embraced media streaming services such as Netflix, HOOQ, and Spotify. They are also open to a sharing economy, confidently using platform-based services such as Grab and AirBnB.

Internet speed, however, remains to be a stumbling block. According to a 2017 Ookla report, the country’s average fixedinternet speed stood at 15.2 megabytes per second (Mbps), below the global average of 40.7 Mbps while mobile internet speed clocked in at 13.5 Mbps, below the global average of 21.3 Mbps.

Mobile network research firm OpenSignal revealed the Philippines ranked 74th out of 77 countries in terms of 4G speed, with an average download speed of just 8.24 Mbps.

To address this, the DICT is currently carrying out the National Broadband Plan (NBP), which aims to improve internet connection quality in the Philippines over the course of 10 years, starting in 2017. Under the NBP, internet providers and telecommunications companies will be given the opportunity to operate in underserved and unserved areas, particularly those outside of industrial zones and major cities. The government will also be working with stakeholders in the public and private sector to speed up the deployment of broadband technologies, minimize implementation costs, and reduce disruptions from physical construction.


UPCOMING INFRASTRUCTURES IN THE PHILIPPINES BY 2022

by Jocille Morito

Reliable infrastructures are crucial to a country’s economic growth. Unarguably, this has always been a major source of concern for business investors in the Philippines. Poor infrastructure and heavy utility costs have discouraged many investors over the past years. In fact, according to the 2017 World Economic Forum’s competitiveness report, the Philippines is 97th worldwide in terms of infrastructure, while ranking 5th in Southeast Asia in terms of access to physical infrastructure, according to a separate report by the United Nations.

The country’s weak infrastructure has also cost billions of pesos in revenue. The traffic in EDSA alone, for example, resulted in a daily loss of Php 2.4 billion in 2012, according to a research conducted by the Japan International Cooperation Agency ( JICA). This figure is expected to triple in 2030 if not properly addressed.

For this reason, the government is intently focused on improving the infrastructure landscape of the country. The sustained economic reform, expanding trade surplus and steady economic growth during the previous administrations have allowed for the development of the “Build, Build, Build” program.

The “Build, Build, Build” program is an ambitious undertaking that aims to establish 75 flagship infrastructure projects by 2022, which is estimated to cost Php 8 trillion to Php 9 trillion in public spending. Thirty-four of these have already started in 2018. This program includes four seaports, nine railways, six airports, four energy facilities and 32 roads and bridges. With this infrastructure expansion, lower production costs, improved regional incomes and more provincial investments are expected, which will eventually promote more jobs and efficient business operations.

Public transportation will largely benefit from this program and greatly experience major improvements. Multiple expressways, roads, and highways are currently underway to improve accessibility and traffic between cities and provinces. Here are some of these projects:

 

Metro Cebu Expressway

This is a 73.75-kilometer highway divided into three segments: Talisay-Cebu City-Mandaue (Segment 1); Consolacion-Liloan-Compostela-Dana (Segment 2); and Naga-Minglanilla (Segment 3). This project will also accommodate a 2-kilometer tunnel. Once completed in 2022, Metro Cebu Expressway will lessen travel time all throughout Cebu and improve traffic conditions.

 

Central Luzon Link Expressway

This project aims to reduce the travel time between Tarlac City and Cabanatuan City from 70 minutes to 20 minutes through a 30-kilometer four-lane expressway. Once completed in 2020, it is expected to alleviate traffic through Daang Maharlika by 48%.

 

Cavite-Laguna Expressway

This project is a 44.20-kilometer four-lane tolled expressway that will connect CAVITEX in Kawit, Cavite and the SLEX-Mamplasan Interchange in Biñan, Laguna. This will allow interchanges in eight locations including Technopark, Laguna Blvd., Sta. Rosa-Tagaytay Road, Silang East, Aguinaldo Highway, Governor’s Drive, Open Canal and Kawit. The expressway is targeted for completion by 2020.

 

Tarlac-Pangasinan-La Union Expressway

This is an 88.85-kilometer project designed to decrease travel time between Tarlac City and Rosario, La Union from 3.5 hours to one hour. The expressway is expected for completion by the end of 2018.

 

Davao City By-pass

Davao City will also experience major improvements in public transport. The Davao City By-pass will help reduce travel time from one hour and 44 minutes when travelling through the Pan Philippine Highway and Diversion Road route to 49 minutes through the By-pass road. This project is aimed for completion by 2022.

 

NLEX-SLEX Connector Road

This is an 8-kilometer four-lane elevated expressway that will run over the Philippine National Railway right of way. This project will connect C3 Road in Caloocan and Metro Manila Skyway Stage 3 (MMSS3) through Manila, crossing Espana towards PUP, Sta. Mesa. When completed in 2021, this will provide an alternative route to EDSA and C5 Road, which will considerably improve traffic in Metro Manila. It will also reduce travel time between NLEX and SLEX from more than one hour to 20 minutes.

 

Bonifacio Global City to Ortigas Road Link Project, Sta. Monica-Lawton Bridge & Viaduct

This project includes a four-lane bridge across Pasig River and a four-lane viaduct structure from Lawton Avenue to the entrance of Bonifacio Global City and just before Kalayaan Avenue in Makati City. This is expected for completion in 2020.

Other featured projects include:

 

Clark International Airport Expansion Phase 1

This is a Php 12 billion project that is designed to expand the operations at the Clark International Airport. A new passenger terminal building will be constructed to accommodate eight million passengers annually, along with other airside and landside associated facilities.

 

Mega Manila Subway

This is an ambitious Php 227-billion project that aims to establish a 25-kilometer underground transportation system, which will connect major business districts and government centers in Manila. Once completed, it is expected to transport 370,000 passengers a day.

 

New Clark City

New Clark City features three separate projects, namely National Government Administrative Center, Food Processing Terminal and International Food Market and Mixed-Use Industrial Real Estate Developments.

The National Government Administrative Center, which is expected for completion in 2020, will house various satellite government offices. It will also accommodate sports facilities that will serve as the national training center for Filipino athletes. The Food Processing Terminal and International Food Market will be a trading center for both fresh and processed products. Once completed in 2022, this project will attract private investors, associations, and cooperatives in the agricultural industry. This will also promote integrated research development and technology that will be established in New Clark City’s agroindustrial zone.

Finally, the Mixed-Use Industrial Real Estate Developments project, which is targeted for completion in 2022, will feature green industries that will leverage the local economy of New Clark City. This will house various businesses and real estate developments that utilize environmental-friendly approaches. This initiative is established through the partnership of Bases Conversion and Development Authority (BCDA) and Filinvest Land, Inc. The New Clark City is envisioned to be Asia’s prime economic hub.

Such drastic infrastructure development will undoubtedly usher in a golden age in the infrastructure landscape of the Philippines. Reliable and quality infrastructures will accelerate the development of industries and promote robust growth across all business sectors. These infrastructure projects will expand the productive capacity of the Philippine local economy and reinforce the investment climate. In the coming years, the real estate industry will experience major innovations in response to sustained infrastructure development and inclusive economic growth.


GOVERNMENT REGULATIONS AND LAWS IN
REAL ESTATE

by Paul Villegas

For foreign investors looking to invest in real estate properties, the Philippines’ complex system of laws, rules, and regulations in the real estate sector may be a bit difficult and challenging when navigating the country’s real estate landscape.

The legal complexity that governs real estate transactions in the Philippines has become some sort of a maze for foreign buyers. Although the 1987 Philippine Constitution includes key prohibitions when it comes to land ownership of foreigners and other matters related to it, other regulatory mechanisms concerning real estate transactions such as lease, purchase, sale, and ownership can be found in various regulations and statutes.

Under the Philippine constitution, foreign nationals are not allowed to own land in the country except when the acquisition was made before the 1935 Constitution and when the property being purchased is a condominium project whose interest in it does not go beyond a 40% stake. If in case the foreign national was born in the Philippines but had renounced his or her Filipino citizenship, then he or she could own up to 1,000 square meters of residential land and up to a hectare of agriculture or farm land.

However, for foreign nationals who want to lease land in the Philippines, they can do so for up to 25 years and then extend this for another 25 years. Another way is by investing in a duly registered company that is at least 60% owned by Filipinos, with at least five of them occupying a seat on its board. If a foreign national is married to a Filipino citizen, the land title of any property that is acquired by that foreigner should be under the Filipino spouse’s name, even though the foreigner’s name can be on the contract during the purchase of that property. However, in the event that the Filipino spouse dies, a reasonable amount of time will be given to the foreigner who purchased the property so that he or she could sell it and collect its proceeds. Otherwise, that property will pass to any Filipino heirs or relatives.

As more and more foreign nationals have shown interest in buying properties in the Philippines, several real estate groups and property developers are lobbying Congress to relax the country’s laws when it comes to foreign ownership of properties, noting that doing so could fuel the country’s economic growth.

Property ownership in the Philippines remains highly regulated, although it is not the only Asian country that prohibits foreigners from owning real estate properties. But for countries like Malaysia and Thailand, which have revised the laws and regulations of their real estate sectors to make it more liberal and relaxed to foreign buyers, their economies have experienced positive growths when their property markets were opened up to foreign nationals.

Metro Manila’s luxury condominiums are relatively more affordable compared to those in Singapore, Hong Kong, and Tokyo, which is probably one of the main reasons why more foreign buyers are flocking to the Philippines. And with more luxury residential condos being built in places like Cebu, Clark, Iloilo, and Davao, many more foreign buyers are expected to express interest in them. About 20% of the pre-selling luxury condos of local developer Ayala Land Premier are reportedly gobbled up by foreign buyers and overseas Filipinos.

For Filipino nationals interested in purchasing real estate properties, several laws and regulations have been put in place to protect their welfare from unscrupulous and fraudulent sellers, which include developers, brokers, sellers, and landlords. For instance, Presidential Decree No. 957 has been revised and amended several times as the country’s property landscape and conditions continue to change.

So that potential property buyers could make the most informed decision when buying real estate properties, section 19 of P.D. 957 mandates property developers and sellers to be as truthful as possible and provide all the relevant information needed such as price and location when they advertise their properties in order to sell them. These include, for instance, accurate distances in kilometers when landmarks are mentioned in relation to the property being sold.

When it comes to payment schemes and turnover of property, several provisions in P.D. 957 have also been put in place to ensure that both buyers and sellers know what they are getting into. If a seller fails to turn over a property on an agreed upon date with the buyer, any payment made by the buyer should be reimbursed. The buyer also has the right to discontinue payment to the seller.

Section 33 of P.D. 957 also makes it clear that buyers should be fully aware of the fine print behind those no down payment schemes being offered by property developers. What this scheme means is that down payments could be paid in installments rather on a lump sum, and that only after that payment has been completed could a buyer start using the property.

Because purchasing a real estate property involves a ton of money and is a major deal for almost everyone, rules and regulations on the marketing and sale of properties are duly regulated to protect both buyers and sellers.

Lamudi.com.ph was launched in 2014, ushering in a new age in the digital presence of the Philippine real estate industry. The website has brought together property seekers and sellers from all over the country into one portal for all things concerning real estate.

The emergence of Lamudi.com.ph continues into 2018, with traffic in terms of page views and inquiries more than doubling over the months of January to October compared to the same period last year. Page views were up 256%, while inquiries increased by 242%.

The average monthly number of users for Lamudi.com.ph has also increased by 5% this year, with solid growth in page views and inquiries across all property types (apartment, commercial property, condominium, foreclosures, house, and land) and offer types (buy and rent).

 

Growth Of Interest Among Property Types On Lamudi.com.ph

From January to October 2017 to January to October 2018
House Condominium Land
196% INQUIRIES 154% PAGE VIEWS 294% INQUIRIES 204% PAGE VIEWS 224% INQUIRIES 171% PAGE VIEWS
APARTMENT COMMERCIAL PROPERTY FORECLOSURES
332% INQUIRIES 253% PAGE VIEWS 228% INQUIRIES 184% PAGE VIEWS 11900% INQUIRIES 7704% PAGE VIEWS
 

Offer Types

From January to October 2017 to January to October 2018
BUY RENT
220% INQUIRIES 170% PAGE VIEWS 294% INQUIRIES 200% PAGE VIEWS

CONDO: VERTICAL COMMUNITIES

by Jocille Morito

The increasing real estate prices and scarce land resources, especially in Metro Manila, have propelled Filipinos to adopt vertical living. The inland migration of humanity to highly urbanized cities, coupled with the rapid urbanization in key locations in the National Capital Region, has also spurred the growth of vertical developments in the Philippines. To accommodate a growing population, hyperdensification of cities through vertical urbanism is the inevitable solution.

Vertical urbanism in the Philippines is mainly focused on improving the current conditions of Metro Manila. For centuries, Escolta was the Philippines’ central business and financial district. However, after the devastation left by World War II, Escolta could no longer adapt to modern changes. To address the demands of a growing urban populace, private developers built central business districts (CBD) away from Escolta.

The construction of these CBDs, such as Makati and Bonifacio Global City, has paved the way for the booming condominium market. Condo living in the Philippines has gained popularity since the mid-1990s, and until now, real estate developers continue to be aggressive in providing sufficient supply of vertical residences.

In a way, Philippine developers and architects have embraced the new orthodoxy of vertical living to promote innovations in their condominium designs. The unique urban landscape of the country, for example, has given property developers the opportunity to integrate tropical architecture in their designs.

Private property developers have also helped modify urban planning in big cities. As reported by the Manila Times, Palafox Associates has recommended changing land use zoning, increasing densities in floor area ratios and building heights, as well as changing deed restrictions.

The trend for vertical urbanism is also increasing in other regions outside Luzon. High-rise condominiums have been constructed in Cebu Business Park and Davao City, for example, in response to the rapid urbanization in the southern regions of the country.

This chapter gives an in-depth discussion of vertical cities, how they help the economy cope with rapid population growth, and an outlook of the future of the Philippines’ vertical urbanism. Also included in this chapter are the profiles of the awardees and nominees for The Outlook 2018: Philippine Buyers’ Choice Property Awards’ Best Affordable Condos in Luzon and Visayas and Mindanao, Best Premium Condos in Luzon and Visayas and Mindanao, and Best Luxe Condo in Luzon.


VERTICAL CITIES AS AN ANSWER TO RAPID POPULATION GROWTH

by Angelo Tan

The Philippine population was at 100.98 million people, based on the last census conducted in August 2015. Projections by the Philippine Statistics Authority (PSA), however, pegs it at 106.2 million for the second quarter of 2018. It further sees it rising to 142 million by 2045.

One of the more economical and sustainable solutions to the impending overpopulation problem is going vertical. This means not only building residential dwellings, but combining it with retail, leisure, office, education, medical, and possibly government services. These vertical cities could potentially help reduce pollution, ease traffic, decrease waste, and provide better resource management.

Logical Progression

Horizontal living takes up more space than buildings. A house sitting on a 250-square-meter lot, for example, will house one or maybe two families. For a residential condominium, the ideal lot area would be about 1,000 square meters. This same area, however, can be multiplied by as many storeys that can be built. It can also be further split into multiple units per floor, with an allocation for common area space. Vertical developments will be able to house more families per floor because each square meter is maximized. There would be no need for an expansive garden area or huge garages. More families or unit owners can instead occupy such spaces. When these dwellings are mixed in with other urban necessities, it reduces the need to travel long distances. This further opens up the roads, decreases traffic, and the need for pollution-causing vehicles.

Sustainable Architecture

These buildings, whether mixed-use or not, should ideally be linked together. This interconnectedness creates access to further facilities located only in specific buildings. It is what will create a truly vertical city. This will minimize the need to use a road network below because mobility is happening at a lateral direction above. It is an engineering challenge that must be met sooner rather than later. Among those who are deeply involved in this design concept is M. Arch. Ken King, NCARB. He states, “We decided to restrict the (vertical) city we are going to build to a half a mile by half a mile or 0.8 kilometers by 0.8 kilometers. Because in that area, people can get from one place to another place within 15 minutes of walking. If you can get within 15 minutes of walking from your house, there is no need to have cars.”

Buildings such as the Burj Khalifa with its multi-deck sky lobbies and sky bridges have a semblance of what a vertical city could be. However, there is more potential for interconnectedness in China, where the world’s first cluster of adjacent supertall buildings are located. The Shanghai Tower, Jin Mao Tower and Shanghai World Finance Centre are just across the street from each other on the ground level.

Kenneth King and Kellogg Wong discusses the concept of vertical cities thoroughly in their book Vertical City: A Solution for Sustainable Living. To create it, they interviewed “more than 30 of the world’s top architects, urban designers, engineers, microbiologists, transportation and sustainability experts to discuss the concept of a Vertical City as a potential solution to many of our world’s greatest problems, including rapid population growth, environmental destruction and the loss of arable land.”

Urban Influx

More and more people are moving into cities from rural areas. The United Nations estimates 55% of the world’s population to be already living in cities this 2018. This number is projected to grow to 68% by 2050. It states that 90% of this increase is to take place in Asia and Africa.

The Philippines will not be immune to this transition. Mega Manila is comprised of Metro Manila (NCR) as well as the surrounding regions of Central Luzon (Region 3), Calabarzon (Region 4-A) and parts of MIMAROPA (4-B). It already contained 38% of the country’s population back in 2010. This has most likely grown beyond this number, eight years on. It will continue to do so as more people seek the conveniences and opportunities of living in a city.

Vertical cities could preserve land use for food production and minimize the need for a road network in anticipation for the impending urban sprawl. This increased density, however, should be balanced with a humane way of living. It should still encourage human interaction by designing areas where people can naturally congregate and socialize. This hyper-urbanization must still promote the chance to make business exchanges and the opportunity to appreciate culture and the arts.


THE FUTURE OF VERTICAL COMMUNITIES IN THE PHILIPPINES

by Riena Solacito

The weekday population of a city like Makati in daytime is 10 times the population it has at night. A similar case happens to other cities like Manila and Quezon City. People who do not have homes in these CBD areas travel to and from their workplace every single day, enduring the traffic and public transportation issues of the country. This resulted in a high demand for residential spaces, but the scarcity on available land property seemed impossible to address, until the introduction of vertical communities. Vertical communities is bringing a change in lifestyle that Filipinos currently need.

 

Why Vertical Communities Matter

Condominiums give their tenants more than just a home - they provide the urban holistic lifestyle one deserves. More than a room to stay in, they come with complete amenities for entertainment and recreation. This mixed-use type of township, with integrated amenities that vary per market needs, makes condo living more exciting. Some have unique rooms such as a library or a music room for properties located near schools. Others have gyms, dance rooms, infinity pools, game rooms, spas, and mini-theaters for additional relaxation.

Convenience is another selling factor for these vertical communities. Oftentimes, the property has a commercial area of its own. Convenience stores, restaurants, laundry shops, and almost everything else is within your reach. The location of these properties also provide accessiblity, as they are strategically placed in prime areas near workplaces or near locations that are frequently visited.

More than its original purpose of providing space for the tenants, these properties have become a vacation spot on their own. Staycations, or staying inside one’s property on a holiday, is another personal or bonding activity that millennials currently enjoy.

The condominium’s 24/7 security and emergencyready facilities, which further make the investment worth it, should also not be forgotten.

The Current Scenario

Real estate developers started to bring this change of landscape to the areas outside Metro Manila, most specifically to those areas with high tourism value such as Cebu, Davao, Bacolod, Iloilo, and Bohol. Vertical communities have also reached up-and-coming business districts like Batangas, Laguna, and Cavite.

Millennials, which comprise the biggest chunk of today’s working population in the Philippines, are said to be leaning towards acquiring a smaller space near their workplace. More feasible payment terms compared to those for houses and lots also contribute to the selling proposition.

What the Future Entails

It will be a long while before the vertical communities bubble bursts. According to a 2nd Quarter Report by real estate consulting services firm Colliers International, this year’s vacancy rate has lowered while the decline in rent was finally arrested. Colliers said that as of the first half of 2018, 30,000 units have been taken up in the preselling sector, and the figure is expected to go over 60,000 units within the year.

According to the same report, occupancy in residential condominiums across Metro Manila significantly improved in the second quarter, with Colliers attributing this to the leasing power of foreign and local professionals, as well as Chinese investors and workers working in offshore gaming companies.

Colliers sees the warmer relations between the Philippines and China as the reason behind the increase in residential condominium demand. This leads to another prediction by the firm that if this trend continuous, the Philippines will observe more inquiries from firms and businessmen based in mainland China, Hong Kong, and Japan.

If the schedule is followed, Metro Manila is expected to have 189,000 units in 2021, which is 33% higher than the 142,000 units in 2017. About 8,600 units are expected to be completed each year from 2019 to 2021.

The firm feels positive about these residential condominiums data and even encourages high-end developers to produce more projects in the Manila Bay Area. In this area, more office constructions are being built, thus a high demand for residential properties is again expected. Colliers also encourages real estate developers to start operating in Cebu, Pampanga, and Laguna, where the offshore business game is predicted to rise next.

Since the country’s real estate developers are aiming address the growing demand for space, the challenge now is how these properties will bring vertical communities to a whole new level in order to stand out.


LAMUDI CONDO SEARCH TRENDS: WHAT WE’VE LEARNED SO FAR

by Des Arellano

When it comes to condominium developments, who are searching online? What price points are they looking at, and which locations are they interested in?

Statistics from Lamudi.com.ph reveal interesting insights. But first, here’s a definition of terms.

Sessions

A session is a group of user interactions with your website that takes place within a given time frame. A click is equivalent to one session, which lasts for 30 minutes. Time in excess of 30 minutes is considered as a new session.

Page views

The number of times a page is opened within a website. One can have multiple page views in one session.

Leads

Users who have already provided their contact information and are more likely to buy.

Here are the findings.

1. Affordable is still the way to go.

In terms of price, Lamudi users are on the lookout for affordable condo units (59.1% of sessions, 59.4% of page views, and 61.9% of leads). Within the Affordable segment, users focused on the Php 1.5 million to Php 3 million price range, followed by the Php 3 million to Php 5 million range. This reflects the property market in the Philippines, a significant portion of which are young professionals or families looking for their first home.

Top searches for the Premium and Luxe segments are within the Php 5 million to Php 6.5 million range and the Php 18 million and above range, respectively. According to Colliers International Philippines, demand for luxury condominiums is strong from affluent Filipinos, foreign investors, and offshore gambling firms.

2. Condominium hunters are young and female.

Women are searching for condo properties online slightly more than men, at 58.8% of sessions, 53.5% of page views, and 56.6% of leads. For both genders, however, the top age ranges are the same: 25 years old to 34 years old, followed by 35 years old to 44 years old.

According to a study on online shopping orientations by Guided Selling, women do their homework well: they tend to visit more websites and do price comparisons more thoroughly than men.

While men tend to be more straightforward when it comes to online search, it is all about the experience for women. A userfriendly interface and high-quality visuals will make them linger longer, ushering them into the next phase of the purchasing funnel.

3. Searchers were from major cities in Metro Manila.

The top three user locations are Quezon City (24.4% of sessions, 19% of page views, and 21.6% of leads), Makati (22.7% of sessions, 19.9% of page views, and 28% of leads), and Manila (6.7% of sessions, 5.8% of page views, and 5.7% of leads). Outside Metro Manila, searchers are mostly from Cebu, Bacoor, and Baguio.

Meanwhile, the top three locations of overseas searchers are Singapore, Dubai, and London – all of which are popular destinations for Overseas Filipino Workers. This signals interest in condominiums as an investment vehicle.

 

4. Quezon City listings topped the list.

Condominium developments in Quezon City topped the list (17% of sessions, 13.4% of page views, and 11.5% of leads), followed by commercial business districts Makati (16.4% of sessions, 17.7% of page views, and 19.4% of leads), and Taguig (12.4% of sessions, 13.6% of page views, and 17.3% of leads).

The Supreme Court recently gave the go signal for the Quezon City government to implement a 2016 ordinance that will raise the market valuation of land and structures in the city by as much as 500%. The effect of the ordinance, which is set for implementation in 2019, on condo developments in Quezon City remain to be seen.

HOUSES

RISING PROMINENCE OF RESIDENTIAL REAL ESTATE

by Riena Solacito

The country is in the midst of a housing backlog, while demand has been outpacing supply for years and there is no immediate reversal in sight. Developers have a lot of ground to cover to meet this ever-growing demand. Despite a very healthy luxury developments residential segment, the middle- and low-cost price points have yet to be adequately addressed. Contributing to this shortage are foreign buyers who have likewise appreciated the positive aspects of investing in Philippine properties.

This chapter will talk about the various factors surrounding the shortage of availabilities in the residential sector. Among them is how to address the housing backlog that presently exists across the country. There are, of course, some areas where this is more evident than others. Lamudi.com.ph has gathered pertinent data on the residential hotspots in Philippine real estate. Such information is supported by search trends, different price segments in the real estate industry, and demographics.

The discussion will proceed with other topics such as the residential market in various areas, not just in Metro Manila but also in the provinces. Another point of interest will be how Foreign Direct Investments (FDI) are influencing the growth of the residential sector in the Philippines.

The country’s developers are exerting their best efforts to help satisfy the housing shortage, but some developments will inevitably stand out among the others. This chapter will also name the winners of The Outlook 2018: Philippine Buyers’ Choice Property Awards that recognized excellence in the housing sector.


LAMUDI.COM.PH RESIDENTIAL PROPERTIES SEARCH TRENDS

by Jocille Morito

A typical Filipino family grows in neighborhoods of houses and lots. This is why it is customary for some to aspire to have a home and land that they can call their own. Who are these people? What types of homes are they looking for? Lamudi.com.ph shares data gathered this year to answer these questions on the residential real estate market of the Philippines.

The Value of a Home

 

According to Lamudi.com.ph’s data, when it comes to residential search results, internet users find houses priced between Php 3 million and Php 4.5 million as the most interesting property to check. The highest sessions, page views, and leads come from properties under this price category at 16.4%, 16.7%, and 19.6%, respectively. Lamudi.com.ph’s users looking for residential properties search for and view listings under this price category the most, and have expressed the most interest for homes in this price rage.

Women still prevail in the House-for-Sale Hunt

 

When it comes to gender, more than half of the total internet searchers are women, with sessions, page views, and leads that are nearly double compared to men. When it comes to researching and background checking, women are still on top of the game with sessions at 63.5% compared to 36.5% of men, page views at 64.7% compared 35.3%, and leads at 62.5% compared to 37.5%.

Among 32 studies that assessed how men and women think when there is a problem or how they make decisions, 12 studies found that women leaned towards a more analytical approach more often than men, while the remaining 20 studies stated that there is no difference between the two. This may be part of the explanation behind the long and thorough searches of women on Lamudi.com.ph.

Millennials still the most curious

 

The biggest chunk of activity on Lamudi.com.ph comes from the age category of 25 years to 34 years. These millennials, who are also the current largest labor force, took up 36.8% of sessions, 64.7% of page views, and 36.1% of leads.

As age increases, interest in online property search on Lamudi decreases. The next most active age group on Lamudi are between 35 years and 44 years, with 23.5% of sessions, 24.2% of page views, and 23.4% of leads. They are followed by the age group of 45 years to 54 years, with 15.0% of session, 14.6% of page views, and 15.2% of leads. Millennials grew up in an age of digital devices and internet access, while older generations may be more comfortable with traditional searches.

The Favorite City

 

In terms of location, the area with the highest search interest on Lamudi.com.ph for residential properties is Quezon City. It has 14.2% of the total sessions, 13.8% of page views, and 16% of leads. This is immediately followed by Paranaque with 8.9% of sessions, 9.6% of page views, and 9.8% of leads. In the third spot comes Las Piñas with 7.3% of sessions, 8.0% of page views, and 7.8% of leads.

Cities outside of the NCR that made it to the top 20 most popular cities on Lamudi.com.ph for residential property searches and inquires are Antipolo, Bacoor, Imus, Cebu, Dasmariñas, Davao, Sta. Rosa, Angeles, Tagaytay, and Baguio. These are well-developed cities that serve as centers of commerce outside of Metro Manila.

Where are these searchers located?

 

One thing to consider in comparison with the listings by location is the location of the users themselves.

In line with the previous set of data, most Lamudi.com.ph users are from Quezon City, with 23.6% of sessions, 22.8% of page views, and 22.2% of leads. In second place is Makati, with 15.9% of sessions, 15.5% of page views, and 15.5% of leads, and in third place is Manila with 7.0%, 6.8%, and 7.1%, respectively.


THE RESIDENTIAL MARKET: METRO MANILA & BEYOND

by Jocille Morito

The Philippine real estate market remains bullish amidst economic setbacks in 2018. The residential market, in particular, has benefited from the Philippines’ warmer relations with China and the USA, with the increasing demand mostly coming from foreign nationals, business investors and OFW families.

Current state of the residential housing market in Metro Manila

According to JLL Philippines, one of the industry’s prime real estate investment management companies, the residential market in Metro Manila will be dominated by a new and upcoming supply of vertical developments in the form of residential condominiums. JLL maintains that the demand for residential condominium units remains good despite headwinds that have caused a moderate increase in residential prices of up to 5.1% year over year across all unit types (based on BSP’s Residential Real Price Index): single detached or attached house (-5.3% y-o-y); duplex (-21.0% y-o-y); townhouse (5.3% y-o-y); and residential condominium (8.0% y-o-y). The second most popular price range is between Php 1.7 million and Php 3 million, with 13.6% of sessions, 14.6% of page views, and 18.1% of leads, followed by the price range of between Php 450,000 and Php 1.7 million, with 14.6% of sessions, 12.1% of page views, and 14.4% of leads.

JLL has also observed healthy demand for residential condominium and townhouse units, despite the rapid increase of the inflation rate. BSP’s 3Q18 consumer expectations survey suggests that Filipinos are willing to purchase condominium units, recording 3.9% quarter over quarter growth (this is a bit lower than the recorded willingness of 6.3% q-o-q in the second quarter). The sustained demand has offset the decline in prices of other unit types, recording a manageable growth rate of 5.1% for all unit types in Metro Manila.

The growth of the residential condominium market can be attributed to the depreciation of the Philippine peso against the U.S. dollar, which has encouraged OFW families to invest in condominiums. The increasing land values have also contributed to this trend, as property developers find it more expensive to purchase lots. This, as well as the limited amount of developable land for horizontal projects, has pushed developers to focus more on building vertical residential properties instead. In fact, the Housing and Land Use Regulatory Board (HLURB) released 92% to 97% of its licensesto-sell (LTS) issuances for residential condominiums, compared to 2% to 4% for house and lots in the open market. In terms of supply, JLL has also noticed a slowdown in project launches for midrange residential condominiums, with a lower number of LTS registered with HLURB as compared to the LTS issuances around 2012 to 2014.

Despite maintaining the dominant share in the total LTS issued in Metro Manila, JLL noticed an evident decline in the number of LTS issued for mid- to high-end condominiums from 2012 to 2015. Below is a graph showing the LTS for residential condominiums from 2011 to 2017.

 

Current state of the residential housing market in the provinces

According to JLL, the increase in residential sale activities in Metro Manila has spilled over to its neighbouring areas, increasing the demand and supply for horizontal developments in the provinces. This can be observed through the decreasing share of the total number of LTS issued in the NCR. Furthermore, the limited availability of developable lots in Metro Manila has spread development of horizontal projects and residential subdivisions in different provinces such as Bulacan, Cavite, Laguna and Batangas. In Luzon, Clark, Pampanga is seen as an emerging zone for vertical projects due to the rising interest of real estate developments in the area.

JLL also noted that residential condominium units are on the rise in the city centers and business districts in Visayas and Mindanao. In Visayas, a significant amount of existing condo units is concentrated in Metro Cebu, as well as in Mandaue City and Lapu-Lapu City. Similarly, Davao City in Mindanao exhibits a growing number of residential condominium developments.

Major challenges in the residential market

The growth of the residential market is without immunity from several challenges for different stakeholders. JLL noted that the increasing interest rates caused by rapid inflation may discourage buyers from purchasing residential units, as borrowing money from banks may become more expensive. In areas where the take-up of units is fast, the high demand for the units would rapidly increase selling prices, translating to higher prices.

Furthermore, the upsurge of mainland Chinese investments has increased residential purchases from Chinese nationals. In areas where online gaming is typically located (particularly in the Bay Area), the robust demand for residential condominium units has appreciated the selling prices on a per sq. m. basis, with these investors not negotiating on the asking price. With a healthy take-up of residential condos from foreign investors, local buyers may have a hard time competing with other nationalities due to the higher value of foreign currency.

JLL also pointed out several challenges for sellers and developers. The increasing cost of borrowing, owing to BSP’s move to raise interest rates, may discourage investors to borrow and invest. Moreover, the rapid urbanization of Metro Manila and the spillover effect of the robust market has tightened availability of land supply for development.

Developers also experience construction delays in the completion of buildings, which has slowed down the supply in recent periods, affecting the turnover dates of developments to property buyers. These delays may be attributed to the shortage of manpower in the construction industry as developers also compete with the government’s Build, Build, Build program for the availability of skilled laborers.

With these challenges coming to the fore, JLL stresses the need for stricter implementation and laws on master planning to encourage more projects that are in line with sustainability and community building.

The future of the Philippine residential housing market

In 10 years, JLL anticipates further growth in the residential housing market outside Metro Manila. More residential condominium projects are expected to enter the market in provincial cities such Metro Cebu, Davao City, and Clark, Pampanga.

Mixed-use developments are also expected to proliferate in the provinces and would most likely have community-based structure, wherein residential developments (both vertical and horizontal) are located within a township development. JLL also sees more flexible payment options to widen the target market depending on the housing segment. Lastly, JLL forecasts a growing market for housing backlog and hopes for this to be addressed, especially in the lower price segments.


FDI GROWTH IN THE RESIDENTIAL MARKET

by Jocille Morito

Whether Foreign Direct Investment (FDI) benefits the country remains arguable to some economists. Certainly, there are favorable outcomes that result from having a positive FDI. It can benefit the country in many ways, such as creating more job opportunities, sustained long-term economic growth, increased market competition, transfer of technology and information, and improved standards of governance.

NET FOREIGN DIRECT INVESTMENTS

2014 - 2018 (JANUARY - JUNE)

(IN US BILLION)
 

GROWTH OF FDI SINCE 2011

As reported by FDI Markets, the Philippines has experienced steady growth in FDI since 2011. Foreign investors have maintained optimism and confidence in the Philippine economy. At the onset of 2018, FDI has remained bullish, with a 43.5% increase in aggregate FDI during the first quarter as reported by Bangko Sentral ng Pilipinas (BSP). This growth produced a net inflow of $2.2 billion, which is higher than the $1.5 billion equity during the same period in the previous year. Last June, FDI grew by 42% from the net investments generated in the same period last year. It spawned a net inflow of $5.8 billion. BSP has projected a net inflow of $8.2 billion in FDI by the end of 2018.

FDI growth in Real Estate Activities

The “Build, Build, Build” program of the current administration has opened new opportunities for the real estate industry and boosted investor confidence. In March 2018, PSA has reported an approved FDI of P1.79 billion ($33 million) in real estate activities. Based on data from January to June of 2018, real estate activities have generated a net inflow of $182.1 million in FDI, which is an 88.8% increase in equity from the same period last year, which was only $96.4 million.

The year 2018 remains promising for the real estate market. A steady stream of residential and mixed-use real estate properties is underway owing to various economic drivers, including increased FDI and other investment inflows, as well as strong macroeconomic environment. The infrastructureled GDP is also expected to buoy the property sector.

Residential Market Outlook

Since 2017, the luxury and high-end residential market has benefited greatly from the sustained macroeconomic growth. The increasing demand for upscale condominiums was mainly driven by foreign investors from China, Japan, South Korea, Indonesia, Malaysia, Hong Kong and Singapore who have taken up both residential and office condominiums. This high-end residential market was mostly concentrated in central business districts, especially in Metro Manila, such as Makati and Bonifacio Global City.

By the end of 2017, foreign direct investments in the property market has reached a record-breaking $2.017 billion, mostly from investors from Singapore, China, Hong Kong, Luxembourg and the United States.

The residential market has further boomed in 2018 as a direct result of the Philippines’ improved relations with the United States and China. Developers are seeing increasing demand for residential properties especially from Chinese workers and business investors.

In 2018, the residential market has also experienced a high demand for condominium units from the secondary market. This high demand is propelled by both foreign and local professionals working in central business districts (CBDs), as well as Chinese investors and employees working in offshore gaming companies. According to Colliers, 30,000 units were taken up in the preselling sector in the first half of 2018. This number may reach up to 60,000 by the end of the year. Chinese employees and business investors are particularly boosting the residential market in Metro Manila. The residential condominium stock in Metro Manila alone has reached 108,900 units as of the 2nd quarter of 2018. The luxury market has also experienced sustained demand mostly from foreign investors and offshore gambling firms, with Metro Manila attracting most rental yields. Most of these existing residential units are located in Quezon, Makati and Mandaluyong. The upscale residential market is predicted to remain strong, with a number of future developments to rise in Bay City in Pasay and some parts of Parañaque.

While Chinese property investors will most likely continue to support Metro Manila’s residential market, the offshore gaming industry will drive the residential market outside Manila. The high demand for residential properties is expected to spill out to Cebu, Pampanga and Laguna, where firms have begun taking up office spaces.

There is also a growing interest for property investments from other countries such as Japan and Hong Kong. Colliers International reported a number of residential developments launched by Japanese companies in partnership with Filipino firms. Nomura Real Estate Development Co. Ltd and Isetan Mitsukoshi Holdings Ltd, for example, have collaborated with Federal Land for a $376 million (Php 20 billion) retail and residential development in Bonifacio Global City. The Arton project in Katipunan, Quezon City is another $169 million (Php 9 billion) partnership between Mitsui Fudosan and Rockwell. Hankyu Realty Co., Ltd has also teamed up with P.A. Alvarez Properties to develop a $12.3 million (Php 656 million) housing development in Dasmariñas, Cavite.

The growth in the residential market is encouraged by the government’s economic reforms. Analysts have perceived that the reduction of minimum paid-up capital requirement for foreign investments, the less stringent prohibitions on foreign contractors taking part in residential developments, and lesser restrictions against foreign-owned investment houses have catapulted further influx of foreign capital in the residential market. The administration’s “Build, Build, Build” program has also gained the interest and positive sentiment of foreign investors. The demand in the residential market will continue to be driven by local and foreign high net-worth individuals and Mainland Chinese nationals, coupled with the increasing purchasing power of the Filipino consumer market.


ADDRESSING THE HOUSING BACKLOG IN
THE PHILIPPINES

by Des Arellano

The Philippines has the third largest slum population in Asia, next to China and Indonesia, according to a 2017 World Bank report. This translates to 17 million slum dwellers in the country, mainly living in stilt houses and makeshift homes along railways and in cemeteries.

The Housing and Urban Development Coordinating Council (HUDCC) reports there are approximately 1.4 million informal settler families nationwide, of which 40% reside in Metro Manila.

Experts reiterate though that these slum dwellers are not necessarily poor; it only reflects the shortage of affordable housing in major Asian cities, including Metro Manila.

The rapid growth of urban development cannot keep up with housing demand; it is estimated that demand for affordable housing will reach 12.5 million units by 2030.

Economic and socialized housing has long been the go to solution to address the housing problem in the country. Economic and socialized housing was traditionally defined as houses within the “affordability level of the average and low-income earners, which is 30% of gross family income as determined by the National Economic Development Authority.” The term also refers to government-initiated projects in depressed areas. By law, these housing units will have lower interest rates and longer amortization periods.

The Urban Development Housing Act (UDHA) of 1992 aimed to:

  • Uplift the conditions of the underprivileged and homeless citizens in urban areas and in resettlement areas by making available to them decent housing at affordable cost, basic services, and employment opportunities
  • Provide for the rational use and development of urban land in order to bring about the following:

    1. Equitable utilization of residential lands in urban and urbanizable areas with particular attention to the needs and requirements of the underprivileged and homeless citizens and not merely on the basis of market forces
    2. Optimization of the use and productivity of land and urban resources

    UDHA also requires subdivision developers to allocate at least 20% of the total subdivision area or total subdivision cost for socialized housing.

    The Republic Act. No. 10884 of 2016, otherwise known as An Act Strengthening the Balanced Housing Development Program, updated the UDHA to include condominium developers as among those required to develop socialized housing projects. Under the new law, the area to be developed for socialized housing for subdivision projects was reduced from at least 20% to at least 15% of the total subdivision area or total subdivision project cost. For condominium projects, the socialized housing is to be at least 5% of the condominium area or project cost.

    Housing is currently classified according to its price range as defined by the HUDCC. Government housing agencies and private housing developers categorized them as follows:

    • Socialized Housing - selling price is at Php 450,000 and below
    • Economic Housing - selling price is more than Php 450,000 and up to Php 1.7 million
    • Low-Cost Housing - selling price is more than Php 1.7 million and up to Php 3 million
    • Medium-Cost Housing - selling price is more than Php 3 million and up to Php 4 million
    • Open Market or High Housing - selling price is above Php 4 million

    According to the Housing Industry Plan: 2012-2030, an industry roadmap prepared by the Subdivision and Housing Developer’s Association and the University of Asia and the Pacific’s Center for Research and Communication, the industry’s goal is to produce 2 million homes from 2017 to 2022, and another 7 million homes from 2023 to 2030.

    However, the 9 million target is still below the 12.5 million estimated backlog. Industry stakeholders must be more innovative in addressing this urgent need.

MIXED-USE: URBAN PLANNING

by Angelo Tan

Mixed-use developments are not just a passing fad in the broad real estate landscape. It has long been an effective solution for conventional human settlements. The advent of industrialization, however, made it more suitable to introduce zoning regulations. This created distinct residential, commercial and industrial areas to encourage the best use of the territory. In spite of this, the growing population and urbanization make it more environmentally sound to introduce pockets of mixed-use projects.

This chapter will touch on different topics pertaining to the interplay between mixed-use developments and urban planning. There will be a discussion on its outlook and the future projects that are in store for the country. While there are no clear indicators of it supplanting the separate-use zoning model, it definitely has clear benefits. The greater proximity among residential, commercial, office and leisure sectors encourages walkability. This would, in turn, reduce vehicular traffic, decrease pollutants and increase a sense of community.

More and more townships are sprouting all over the Philippines with each passing year. Developers are increasingly finding ways to make available such projects to the growing number of buyers. There will also be a discussion about such advancements in this chapter. This will be complemented by an examination into whether urban planning can save Metro Manila. A five-point agenda will be presented to establish the merits of the case.

Awards were presented to developers in recognition of their efforts in this category. These were for Best Mixed-Use Development - Luzon and Best Mixed-Use Development - Visayas and Mindanao. Their work could hopefully inspire other real estate developers to continue pursuing ways to introduce mixed-use projects in the metropolis. It could contribute to future urban planning models that can be replicated and improved upon to benefit more locations in the country. The growing Philippine population would certainly welcome such innovations that optimize the use of limited space.


PROMOTING THE LIVE, WORK, AND PLAY LIFESTYLE

by Des Arellano

As a move to create vibrant and dynamic communities, mixed-use developments, which integrate a combination of residential, commercial, cultural, and industrial uses, are becoming popular in urban areas across the world. Mixed-use developments encourage people to live, work, and play all in one location.

In the Philippines, real estate developers are expanding their footprint across different asset classes through mixed-use developments, and with good reason; mixed-use developments attract a young and driven market segment as these appeal to their concept of what a cosmopolitan lifestyle should be. The proximity of residences to offices and leisure open opportunities for alternative means of travel such as walking and biking. Mixed-use developments revitalize communities by transforming public spaces into hubs for socialization, as well as for local arts and culture.

Coming up with mixed-use developments in the country, however, is not without challenges. For one thing, real estate services firm JLL says developers must face the daunting task of consolidating lots from various owners. Moreover, the zoning of these lots must be standardized – this could be a challenge if multiple lots were zoned for different uses.

In addition, the rapid urbanization of Metro Manila and the spill over effect of the robust performance of the real estate market has limited the availability of land supply for mixed-use development.

To sustain viability, JLL recommends developers to prioritize convenience; this means mixed-use developments must have all the establishments and facilities essential to having a live, work, and play lifestyle. While mixed-use developments are designed to be self-sustaining, these must still be accessible to the rest of the metro.

Developers should also adapt to the demographic shift of the majority of the working population in the Philippines. Millennials, supported by their increasing purchasing power, currently compose the largest market share of the working population. They may be the ideal target market to keep in mind when building mixed-use developments.


THE RISE OF TOWNSHIPS IN THE PHILIPPINES

by Paul Villegas

An ecosystem of interconnectedness anchored on sustainable living is sprouting not just in the greater Metro Manila area, but also in cities such as Clark, Davao, Iloilo, and Cebu. Commonly referred to as townships, these master-planned and self-contained mixed-use communities where work, play, and living co-exist are changing the country’s urban landscape.

With the continued rise of the country’s middle-class sector and the economic progress the Philippines has made over the years, these townships have become appealing to residents and tenants looking for comfort, convenience, and accessibility to facilities that are considered to be within walking and biking distance to their place of residence or work. In townships, residential units are developed and integrated with corporate offices, retail and leisure establishments, and even with schools and hospitals. The convenience that these townships offer is usually not found in typical gated subdivisions or high-rise residential condominiums found in cities in Metro Manila.

Thanks to the rise of the business process outsourcing industry in the country and the number of firms that have set up operations in key areas across several urban hubs, the demand for townships have increased over the years. The launch of the 18-hectare Eastwood City in Bagumbayan, Quezon City in 1997 as an integrated commercial and residential enclave where the concept of a live-work-play environment is manifested signaled the dawn of the township era in the country. Consider what Eastwood has to offer so far: 19 luxury residential condominium buildings, 10 high-end corporate buildings, three lifestyle malls, and a ton of commercial and retail shops. It is home to more than 22,000 residents and 55,000 workers to date.

As the pioneer of township projects in the country, Megaworld Corporation, which developed Eastwood City, has been replicating its success by building integrated self-contained communities across the metropolis and outside it. At Bonifacio Global City, for instance, Megaworld continues to develop its huge land bank in the area following the success of McKinley Hill and McKinley West, its live-work-play-learn hubs that cater to high-end local and foreign clients. Other property development firms have followed suit and are creating their own mixed-use integrated communities in various areas of the metro and beyond.

But with more than 23 million people living and working in the Greater Metro Manila area, sustaining the country’s premier hub and growth corridor is bound to come to a halt if the influx of people from other parts of the archipelago continues at an alarming rate. Some of Metro Manila’s cities continue to be densely populated, with Manila topping the list at 42,628 persons per square kilometer, according to 2015 data released by the Philippine Statistics Authority. This was followed by Mandaluyong with 41,580 persons per square kilometer and Caloocan City with 28,387 persons per square kilometer.

This has prompted several major Philippine property developers to expand their portfolio by creating township projects that are of mixed-use development in areas outside Metro Manila. Ayala Land, Inc.’s Nuvali in Sta Rosa, Laguna, for instance, is poised to evolve into a premier community where open space is a premium and the landscape not just visibly pleasing to the eye but designed to promote interaction among its habitats. Nuvali is strategically positioned as a community that is easily accessible and openly inviting.

Megaworld Corporation’s township project outside Metro Manila includes the 28.8-hectare Mactan Newtown in LapuLapu City, Cebu. A mixed-use township project, it is primarily a cyberpark that caters to Cebu’s booming business process outsourcing industry. One unique feature of Mactan Newtown, though, is that it has its own beach. The company’s foray outside Metro Manila is fueled by an overwhelming demand for office spaces and the significant growth of the BPO sector in Cebu.

Ayala Land, Inc. and Megaworld Corporation are just two of the country’s noted property developers that are banking on the expected growth of economic corridors outside the Greater Metro Manila area. These property development firms plan to build sustainable township projects that could one day bring back the nostalgia of a close-knit community by creating an ecosystem of interconnectedness that is anchored on sustainable living.

Integrated townships have become the standard for property development. They are seen as a viable solution to the growing problem of congestion in Metro Manila. Townships that are being developed in key provincial cities are expected to spur the growth of the local economies. By creating a more dynamic business environment and generating more employment opportunities for local residents, the presence of townships in key cities is seen as a vital component of economic progress.


SAVING MANILA: CAN URBAN PLANNING OFFER A SOLUTION?

by Jocille Morito

Daniel Burnham’s original masterplan for Manila was to transform the city from an old colonial frontier to a modern metropolis that is adaptable to the demands of the changing time. This vision includes efficient road systems, improved public facilities, accessible water transport, parkways, formally arranged major public buildings, and abundant foliage along the waterfront. Manila was supposed to be a worldclass city that provides easy access to business, leisure and lifestyle needs. That was way back in 1905.

More than a century later, Manila has indeed become a modern cosmopolitan area. However, urbanization has caused Manila to retrograde to a more or less toxic environment which nurtured traffic jams, noise, pollution and even flooding. While some would mainly blame this on poor political will and public governance, there are several factors that have “killed” Metro Manila.

According to architect and expert urban planner Felino Palafox, the obsolete approaches that are being used for urban planning in Manila have not progressed since the 16th century when the Spaniard built intramuros and extramuros — that is to say that urban planning still follows segregating practices used in the Spanish colonial era. Palafox added that using a wrong model to build Metro Manila, wherein the local government focused too much on making Metro Manila another Hollywood or Los Angeles, has led to the dysfunctionality of certain features in the region. The results are outdated infrastructure, congested traffic, poor road and transport systems, defective irrigation canal systems, and problems with overall livability within these highly urbanized cities.

The question remains: Can Manila be saved?

During the first media roundtable of The Outlook 2018 on the rise of residential developments held last September 20 at the Makati Shangri-La Hotel, architect Cathy Saldaña of PDP Architects and the ArcoGroup drew a 5-point agenda that could help save Metro Manila through effective and relevant urban planning:

 

Continue on truly decentralizing Metro Manila and spreading development all over the country

Heavy traffic is one of Metro Manila’s long-drawn challenges, and is evidence of congestion. Decentralizing Metro Manila and spreading the centralization to different parts of the country will not only decongest both the traffic and population, but will also promote regional expansion. This could be done by relocating some national agencies and assigning a department in certain regional capitals.

According to Arch. Saldaña, this decentralization has already started to take place towards different regions of the country such as in Davao, Cebu, and Iloilo. Despite this movement, Manila is still expected to be the center of economic growth and seat of government power even in the distant future.

 

Work on public transport, as the mobility of people is what will allow human beings to live in a proper society

One only needs to drive along EDSA during rush hour to understand how bad the traffic is in the National Capital Region of the Philippines. According to Arch. Saldaña, one of the reasons that contributed to the heavy traffic in Metro Manila is the lack of strict regulatory policies in purchasing and owning a vehicle, particularly cars.

For this reason, it is paramount to incorporate an integrated and sustainable public transport network in urban planning to create a safe, eco-friendly, and efficient transport system. There is also a need to incorporate an alternative mobility to commuters, such as providing sidewalks and bike lanes for short distance travel. Greenery, space, and livability should also be considered so residents can move more freely within the city, without risking safety.

 

Allocate the proper logistics to support it

Urban planning wouldn’t be fruitful without the appropriate human resources, facilities, and supplies to support and realize it. Proper technologies must also be provided to effectively execute and implement urban planning.

 

Stick to strong, environmentally sound, and sustainable principles

To promote urban sustainability, a road map for decision making that strictly adheres to environmentally sound and sustainable principles must be followed. This concept of sustainability balances the development and environmental needs of the region. With finite natural resources available, the needs of an urban populace and commerce, as well as environmental limitations must be evened out to minimize harmful breakdowns in both natural and man-made resources at regional scales, such as flooding.

 

Focus on the Filipino people by giving them a reason to stay, invest and, help in nation building

As mentioned, one mistake in Metro Manila’s urban planning is utilizing a model that is akin to the American dream, where almost every household is expected to have a two-car garage. This, in effect, misaligned the Filipinos’ aspirations and socio-economic values.

According to Arch. Saldaña, the Filipinos are aspirational people. Culture should also be part of development planning. Culture underlies social phenomena, relations, and processes. Nurturing the population’s cultural identity is a key ingredient in inspiring social participation and empowerment.

Needless to say, urban planning must focus on the Filipino people and the demands and aspirations of the Filipino market. The emphasis should be placed on what the population values and how to empower these values. Urban planning should encourage the citizens to stay, invest and take part in nation building.

Currently, multiple projects have been initiated to properly address the problems of the congested Metro Manila. Whether Manila will be “saved” is still a conundrum that requires commitment and participation from several stakeholders. This also requires more educated leaders who understand the need to properly plan city and town development. While Manila’s rapid urbanization is seen as a discouraging feat to a number of inconvenienced residents, to urban planners, it remains an opportunity to design a future-forward vision of Metro Manila where families can build their lives and children can safely nurture their dreams.

THE TIME IS NOW: SUSTAINABILITY AND INNOVATION IN REAL ESTATE

by Jocille Morito

The real estate industry in the Philippines is undoubtedly one of the most bullish industries in the country. With the growing number of property developments in the market also comes a growing demand that transcends comfort and aesthetics. Real estate developers are now gearing towards innovative and sustainable projects.

In the past years, innovation and green development have not been a priority in the real estate industry. However, the increasing demand from multinational companies for LEED (Leadership in Energy and Environment Design)-certified registered buildings has changed the Philippines’ real estate landscape.

During the second and final installment of the media roundtable talks for The Outlook 2018 hosted by Lamudi.com.ph, Ms. Emma Imperial, Group President and CEO of Imperial Homes Group of Companies, noted that 54% of real estate developers are adopting innovations to promote sustainability. A growing trend toward green building efforts in the country is observed, with more townships emphasizing on urban mobility and public spaces. One example is the widening of sidewalks seen in Makati to improve mobility of residents within these areas and make property developments more walkable. This initiative is also expected to decongest Metro Manila traffic.

More real estate developers are also adopting environment-friendly approaches in developing commercial, residential, and industrial properties. According to a research conducted by JLL in 2017, a total of 245 (and counting) LEED activities have been initiated, with 61 projects already obtaining certification. Zuellig Building in Makati, for instance, is the first development in the Philippines to be Platinum-certified.

Aside from LEED, the Philippine Green Building Council also established a domestic rating system known as the Building for Ecologically Responsive Design Excellence (BERDE). The Department of Public Works and Highways also implemented the Green Building Code since mid-2015 to encourage developers to adopt more sustainable approaches in real estate development.

There is still much room for improvement for innovative and sustainable real estate measures, especially when it comes to commitment, implementation, and government support. Though the Philippines is steps behind its Southeast Asian counterparts, innovation and sustainability initiatives are rapidly gaining momentum.

This chapter discusses the technologies that back up sustainability efforts, investments in sustainability, and the economics of sustainability. Also included in this chapter are the profiles of the awardees and nominees for The Outlook 2018: Philippine Buyers’ Choice Property Awards’ Best Green Project and Best Innovation Project. This chapter ends with interviews with Italpinas Development Corporation, the winner of the Best Innovation Project, and with the Philippine Green Building Initiative.


WHY INVEST IN SUSTAINABLE PROPERTIES?

by Riena Marie Solacito

Sustainability has been one of the emerging trends considered in developing and acquiring real estate properties. But what does it mean? Furthermore, why is it referred to as one of the best investments in the market?

What Does Sustainable Property Mean?

A house that minimizes energy usage is the key. If your home uses 30% less water and 15% to 20% less energy than traditional homes, and has a certification from the Leadership in Energy and Environmental Design (LEED) or the BERDE Certification from the Philippine Green Building Council, it means you have a sustainable, environment-friendly property, also known as a “green” property.

At a time when talks about climate change and other issues concerning about the environment rapidly sprouts here and there, building an energy-efficient home is a real game changer.

May you be a developer or a home buyer, here are four reasons why you are making the right decision of investing in a sustainable property:

Helpful to the Environment

The main reason behind green and sustainable properties is the conscious consideration for the environment. The less waste and the less energy consumption, the better and the bigger help it is for the environment. The journey to a sustainable property starts from its construction. All materials are efficiently used to ensure there is fewer waste. Sustainable homes, upon construction, also use clean and renewable energy sources. One of the most common examples is the use of solar energy. Through solar panels, dependence on fossil fuels is reduced, alleviating the contamination they cause.

Higher Quality of Living

An eco-friendly home brings a positive impact to not only the environment but also to the family or individuals living in that space. A sustainable home is usually made up of low-VOC (volatile organic compound) materials and paints. Therefore, the air circulating around the household is non-toxic and there are less indoor pollutants. The home is brighter and fresher. Some developers also use locally-sourced materials. This helps in reducing the harmful fuel emissions caused by material transport, thereby also reducing the carbon footprint. Knowing that you, as a homeowner or a home developer, help the environment by choosing to live or provide a living in a sustainable setup consequently brings peace of mind, less stress, and a cleaner conscience.

Higher Savings

Investing in sustainable real estate property will help you save money too. As per the latest data released by the Department of Energy this year, the power rates of the Philippines continue to be the highest in South East Asia with up to Php 10.2190 per kWh. Living in a green property that uses solar power or wind energy as an energy source or a home designed with high ceiling ensures a decrease in the overall home energy consumption. The use of double-glazed windows or low-E glass system to maximize the natural light while reflecting the heat and UV rays out improve the ventilation and reduces the heating and cooling needs of a home. Most buildings also have an HVAC system that operates and controls heat, ventilation, and air conditioning according to need. Others also have a sewerage treatment plan (STP) and rain catchment facility which help to save liters of water each year by treating greywater and recycling them for other use. Motion sensors are technology found in some modern homes. With these, lights, ACs, and other appliances automatically turn off when not in use. Some can even control these with an app. These are just some of the huge investments found in a sustainable home that will lower your cost of living in the long run.

Higher Home Value

Your home is the most valuable investment you can ever make. Whether it is a purchase for yourself or if you plan to resell it in the future, a home with energy-efficient features is something worthy of an investment. It might be costly upfront, but the savings over the years to come will make everything worth every penny. According to a study by The Institute for Market Transformation, as the homebuyers’ interest in high-performance homes increases, their willingness to pay more to have them also increases. Studies also show that the value of a sustainable home escalates as years pass. A home that is low-maintenance and has a long-lasting quality will surely catch the eye of the buyers, especially if the home promises to reduce the amount of their monthly bills while improving their quality of living.


TECHNOLOGIES THAT BACK UP SUSTAINABILITY EFFORTS IN THE PHILIPPINE REAL ESTATE INDUSTRY

by Paul Villegas

The advent of smart technology continues to be a catalyst in the Philippine real estate industry as property development firms look for ways to integrate them within planning and design to make their projects more sustainable.

As the property development sector slowly evolves in this era of sustainable development amid the dangers of climate change and global warming, more and more real estate firms are looking at ways to incorporate sustainability-focused measures and smart technologies into their projects to utilize finite resources more efficiently.

Many of today’s tenants and homebuyers are looking for properties that focus on increasing energy efficiency and longterm sustainability. Think of solar panels, smart appliances that automatically switch off to save energy, and more efficient versions of everyday products such as LED light bulbs or wireless lighting that not only make our homes more comfortable, but easy on the pockets too.

Homeowners and tenants nowadays prefer to invest in properties designed to utilize all available resources more efficiently, which will allow them to save on their monthly energy bills even if the initial costs of purchasing energy-efficient smart appliances and other items are more expensive. These preferences among sustainability-minded tenants and homebuyers are actually based on investment principles that are prudent and are fast becoming a growing segment among property seekers. A property that is more eco-friendly and innovative is more appealing to tenants and homebuyers.

For some tenants and property owners, many of these innovations do not necessarily require huge budgets. In fact, some of them are actually more of a weekend project that only requires time, enthusiasm, and minimal cash outlay. For those who have money to spare, there are solar panels in the market designed to blend with a property’s architecture. Today’s solar panels are better looking, easier to install, and in most cases, cheaper. If you have the right amount of solar panels, they could basically function as your power company. And since the country is visited by an average of 20 typhoons annually, it pays to install a rain barrel that could scoop up all those rainwater which could be used to either water the plants or flush the toilets. Of course, you could always install a do-it-yourself rain barrel to manually collect the rainwater.

There are also innovative toilets that are currently available in the market which reduce water consumption. And if Bill Gates’ idea about the toilet of the future would finally trickle down to the consumers, imagine just how much environment-friendly properties would be if developers were to embrace it and have those toilets installed in every unit that they sell.

Another way that homeowners make their properties more eco-friendly include installing smart power strips that automatically turn off appliances and gadgets when they are not in use. Others use home energy monitors that range from simple to complex. These monitors either track the energy use in a single outlet or they function as a full-on home energy monitoring system. These monitors are plugged into a standard outlet and communicate with smart power meters to tell how much energy is being used, in which room, and at what times of day.

Preferences like these have caught the attention of most property developers by building properties and designing them to ensure that all the materials are efficiently maximized and utilized. These include incorporating light management and air quality systems in their properties that would benefit tenants and homeowners in terms of electricity savings and convenience.

In an article published in Forbes Magazine 1, Garratt Hasenstab, president of The Mountain Life Companies, whose firm is into building and managing innovative real estate investments, suggested that property development firms should make smart home consultants an integral member of the development team to manage the integration of technology in properties that are being developed. “When the developer has chosen to embrace and incorporate these elements into the design and construction process, it is critical that these technical functions integrate their work with each other. It is the integration of smart home tech and sustainability that really compounds their individual impact,” he wrote.


THE ECONOMICS OF SUSTAINABILITY IN
REAL ESTATE

by Angelo Tan

The Philippine market has been gradually moving towards more sustainable living concepts within the last decade. Developers previously sought for the U.S.-based Leadership in Energy and Environmental Design (LEED) certification for their green building projects. Eventually, these efforts were coupled with the country’s own green building rating system. The Building for Ecologically Responsible Design Excellence (BERDE) certification is more aligned with Philippine laws and climate change requirements. While the movement is gaining momentum, there are concerns on the practicability of these sustainable developments. Leading international real estate and investment firm JLL briefly touched on some financial aspects of sustainable projects in the country.

The cost of sustainability efforts

It is no secret that green building efforts will result in higher expenses to implement as compared to conventional projects. The JLL Project and Development Services ( JLL PDS) team estimated that it would amount to 15% to 20% more on the part of the developers.

However, there are many benefits that these structures bring, falling under three main categories of environmental, economic, and social benefits.

The positive impact of sustainability initiatives may be assessed on a building, country, and global level. These benefits naturally come at a premium. Property developers need to pay extra for the design and execution of green building projects. There is also the added cost of specific materials, equipment, and skilled personnel for its completion. When it comes to commercial green buildings, for example, there is no clear cut method to identify how these costs are being transmitted to the end user. Would it be the landlords who will benefit from the lower operating costs from the sustainability plan of the development? There is a need for more data on how such expenses or savings are being passed on to tenants.

Residential advantages

The same could be said for people living in green-designed buildings. There has yet to be a method on how to calculate with certainty the direct monetary savings that they enjoy.

It is true that there are many instances of lower electricity expenditures, but this is not exclusively due to the buildings. It could also be partially attributed to sustainable influences and advancements in technology, such as cost-efficient home installations in the form of LED lighting or household appliances using inverter technology.

These are just some of the instances cited by the JLL PDS team. The emergence of such solutions clearly contribute to increased savings coupled with green building initiatives. It was not too long ago that LED lighting was prohibited. There has yet to be conclusive proof, however that the technology is harmful to health, and insistent consumer demand gave way to the ban. Such lighting is not only cost-efficient but viewed as environmentally friendly as well. The shift to its usage over traditional lighting methods underscores consumer preference for energy saving measures.

Offsetting additional costs

Implementing ecologically responsible designs do come at an additional cost. However, developers can experience savings in terms of the effects of their implementation. Buildings with LEED or BERDE certifications command higher prices and increased marketability.

Helping curb climate change will certainly help spark the interest of a potential buyer, though this may not be enough to motivate them to purchase a unit. However, that knowledge, combined with potential monthly utilities savings and greater resale value, bolsters the popularity of sustainable buildings.

The JLL PDS team also pointed to some intangible benefits brought about by these green-inspired real estate projects. This comes in the form of an increased sense of well-being and contentment experienced by its end users, especially in office spaces. Among them are:

  • Improved working conditions
  • Access to daylight
  • Better air conditioning and lighting systems
  • Safer environment

 

These aspects have shown to contribute to higher employee engagement and motivation, as well as improved productivity.

The benefits of green buildings

How these green buildings provide direct monetary benefits to its users might actually just be of secondary importance. The physical and mental advantages they bring are what makes them more valuable.

However, some areas need improvement for the further implementation of sustainability efforts in the country. Increased support from the government would prove to be beneficial for its continued proliferation. This could come in the form of lower taxes on sustainable real estate projects, as well as the faster processing of permits.


DESIGNING A SUSTAINABLE FUTURE FOR
THE PHILIPPINES

by Riena Solacito

What we see, experience, and use today was yesterday’s dream and future. This is true in the many aspects of Philippine society, including its real estate industry.

Designing the Future: A Responsibility

For Mr. Romolo Nati, the Chairman and CEO of Italpinas Development Corporation (IDC), he sees his work as taking part in the authorship of the future. Designing, for an architect like Mr. Nati, is not just about the visuals or aesthetics. He knows very well the importance of the buildings they construct. IDC knows how these properties will be used by the generations to come and how its designs will leave a mark on how the people live with one another. The design of developers, as per Mr. Nati, also makes a statement on the values that are important to them.

IDC takes its responsibilities seriously, believing that it plays a very big part in creating and designing the future. The firm incorporates the timeless aesthetic of modern and minimalist elegance in its projects. IDC also makes sure that its designs speak of quality and mindful design over quantity and superfluous, superficial ornamentation — the core value that IDC is known for.

The Philippine Real Estate’s Status in Innovation

When we talk about innovation, the Philippines, as compared to advanced countries, may be lagging far behind. However, this is just from one perspective. While it is important to acknowledge the current position of the Philippines in this regard, Mr. Nati, on the other hand, looks at the situation as an opportunity. He sees it as a chance to learn from both the successes, as well as the mistakes, of leading countries.

The Philippines, for Mr. Nati, is a fertile developing environment with a bright future ahead when it comes to real estate business. Local developers can apply the learnings we get from these advanced countries while also responding to changes in the current market’s wants and needs. This is where purposeful innovation happens and where the value of designing with intention takes place.

How IDC Defines Innovation

At IDC, innovation is the common ground to all that it does. It is not just about having the latest materials or using the newest machines. According to Mr. Nati, it is more about engaging the real-estate paradigm in new ways. It is all about bringing fresh perspectives to the table.

IDC applies innovation in its designs and in the way it chooses secondary or tertiary hyper-prospective cities throughout the country as the locations for its projects. The company chooses communities that represent accentuated growth within the broader Philippine growth story. Cities vary in demographics, characteristics, and needs, but the common thread they should have in alignment with the values and vision of IDC is the desire to take part in the Philippines’ grand transformation towards a multipolar country with dynamic centers throughout.

Sustainability as an Innovation

Primavera Residences is what the IDC calls its “first proof of concept”. It is an eco-friendly and internationally awarded condominium and commercial property located in Cagayan de Oro City. It is an Italian-inspired property with sustainable architecture that received EDGE certification from the International Finance Corporation and has won various awards across Asia. Aside from being the first project of IDC in CDO, this is also the first green building found in the city, helping residents save up to 32% on energy consumption.

Primavera Residences is inspired by the traditional house in the Philippines — the bahay kubo or the nipa hut, which is made up of organic materials — which influences Mr. Nati to produce sustainable houses in all of IDC’s projects. The same concept will apply in its first project in Luzon — the Miramonti Green Residences in Sto. Tomas, Batangas.

Towards an Innovative and Sustainable Future

To help real estate developers pursue the purpose of bringing quality change to the Filipino’s way of living, Mr. Nati suggests property seekers and owners to carefully look at the design philosophies of these companies. Study and inquire as to what the developers stand for, and look for clear answers on how they manifest these values in their projects. The government’s continuous support to promote sustainable growth also plays a big impact, as free and rational business environments in the Philippines where creativity can flourish is important for this mission.


TOWARDS A GREENER AND MORE SUSTAINABLE PHILIPPINES

AN INTERVIEW WITH THE PHILIPPINE GREEN BUILDING INITIATIVE

by Jocille Morito

The past years has seen a shift in the Philippine real estate landscape as more developers and environmental sectors push for green initiatives and sustainability. Lamudi had the privilege to interview nonprofit real estate organization Philippine Green Building Initiative to discuss the organization’s outlook and approaches towards building a sustainable and eco-friendly nation.

Humble beginnings

Philippine Green Building Initiative (PGBI) started as informal gatherings between officers of the Philippine Society of Ventilating, Air Conditioning, and Refrigerating Engineers (PSVARE) and United Architects of the Philippines (UAP’s) Green Architecture Movement, chaired by Ar. Amado De Jesus. These meetings happened behind the 2007 PSVARE’s Philconstruct/ HVACR annual event at the World Trade Center. In 2008, the emergence of “green buildings” became a dominant topic of discussion during the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE’s) conference held in Manila.

The following year, more meetings were held with other organizations, this time between UAP, Institute of Integrated Electrical Engineers of the Philippines, Inc. (IIEE), Philippine Institute of Interior Designers (PIID), International Council on Monuments and Sites (ICOMOS), Heritage Conservation Society (HCS), PSVARE, and ASHRAE Philippines. Though two organizations opted out, PGBI was birthed from the minds of likeminded individuals who have served as officers of the organization up to this day.

It was on March 10, 2010 that PGBI was officially launched to the public at the Teatro Arkitekto of the UAP HQ in Quezon City. The ceremony was attended by Secretary and Senator Heherson Alvarez, who was appointed as the vice chair of the Climate Change Commission, and Ms. Gemma Cruz Araneta of the Heritage Conservation Society.

PGBI’s Mission

PGBI’s main mission is to promote green building as an investment the public could benefit from, not only for the country’s future but for their own well-being.

According to PGBI, green buildings lower energy costs, which minimizes the need to build more power plants. In addition, this will stop greenhouse gas emissions, which contribute to climate change.

PGBI added that a green building residence is an investment which grows through the years. For this reason, a certified green building by PGBI becomes a standard of emulation and envy.

Standards and best practices commonly overlooked by Philippine developers

PGBI noted that energy efficiency is one of the most overlooked standards in property development. The cost of electricity is given less consideration when designing a property, causing expenses to increase despite numerous ways to minimize the cost. This presents a problem, given that electricity requires static maintenance, unlike air conditioning that requires regular monitoring and maintenance. To counter this energy inefficiency, PGBI suggests the use of proper building orientation and building envelope to decrease the cost of energy up to 9%.

The Philippine real estate sustainability conundrum

According to PGBI, the Philippines lags behind other countries in the ASEAN region in terms of the implementation and environmental impact of sustainable building initiatives. In Singapore and Malaysia, for example, following a green building code is already a requirement. Even Kuala Lumpur’s Department of Energy is a certified platinum green building.

The Philippines, in contrast, has not reached a considerable level of sustainable development. In a visit by a distinguished lecturer from ASHRAE three years ago, the lecturer commented on the “disposable buildings” in Makati and BGC. The lack of age-old buildings in the country, aside from churches, is a testament of the country’s backward approach towards property development.

For this reason, PGBI teams up with the Singapore Green Building Council during their annual events. PGBI also builds strategic partnerships with the real estate industry to advance the idea of GREEN and grEEEn, short for Geared for Resiliency and Energy Efficiency for the Environment.

The challenges of PGBI

One of PGBI’s greatest challenges is getting cooperation from all organizations, people and individuals who can become advocates of green building.

Though PGBI conducts lectures and seminars, and visits campuses and universities, cooperation from all affected sectors and stakeholders remains tantamount to achieving a sustainable and eco-friendly Philippines.

Philippines’ green building progress

Despite the challenges, PGBI is confident that sustainability is dawning in the country. The development of Smart Clark City, which is a green building initiative, is a prime example. The rehabilitation of popular ecological tourist spots, such as Boracay and soon El Nido, also shows how serious the government is in promoting sustainability. In effect, property developers are gradually following rules and regulations. PGBI added that “the rules of the jungle will be a thing of the past” as the Philippine real estate moves forward.

The future of the Philippine green real estate

PGBI maintains that the real estate industry of the Philippines is on a roll as investments pour in from different countries. Sustained macroeconomic growth is also observed despite the hiccups. Now that the Philippine Green Building Code has started, PGBI hopes for the government to continue implementing strict and sustainable regulations and initiatives. As a major part of this movement, PGBI will continue to educate the local government about green building.

Despite the current lack of strong environment-friendly and sustainable regulations in property development, PGBI remains optimistic about the country’s movement towards green building. In fact, PGBI stated that they have certified more than 30 green building projects for an automotive firm, which has embraced the idea and importance of going grEEEn.

Undoubtedly, PGBI will continue to lead the country in building a sustainable, energy-efficient and environment-friendly real estate. PGBI is a non-profit organization that provides grEEEn Certification, accreditation programs, and EDGE Certification to improve industry standards and promote best practices in designing and constructing property developments.


THE FUTURE OF GREEN ARCHITECTURE IN
THE PHILIPPINES

by Paul Villegas

For a tropical country like the Philippines, green architecture often goes hand in hand with innovative design concepts that incorporate passive elements like the proper use of sunshades and walls to make the most out of the structure’s natural surroundings. That means maximizing the use of natural elements so that the materials needed could be minimized and used efficiently.

According to property markets specialist JLL Philippines, the majority of sustainability efforts in the country’s property development market focus on access to views and daylight of a building to ensure sufficient and efficient lighting, as well as thermal comfort. However, the firm believes that improvements in the area of sustainability could be made when it comes to the property’s indoor structure. By employing green technologies and innovative design concepts, air quality inside a building could be maintained at an optimum level. The working environment could also be designed ergonomically to ensure efficiency among employees and allow effective collaboration by creating areas for engagement among staff.

Designing a green building is usually a holistic approach that ensures the elements of sustainability are incorporated. That includes the use of green technologies to achieve thermal comfort when it comes to ventilation and cooling, as well as the use of innovative lighting technologies that are not only energy efficient but employ lighting designs that complement the natural elements, such as sunlight and moonlight. The whole life cycle of the design and structure of the building would have to be taken into account not only for its environmental benefits and cost-efficiency, but also to create a better working or living atmosphere to attract more tenants.

JLL pointed out that many property developers and tenants in the Philippines are starting to recognize the importance of designing buildings in an environment-friendly manner and incorporating sustainability measures. This is without necessarily being certified by the US Green Building Council’s Leadership in Energy and Environmental Design (LEED) or by its local counterpart, the Philippine Green Building Council’s Building for Ecologically Responsive Design Excellence (BERDE).

The property specialist firm noted that over the past five years, there has been an increase in the construction of green buildings as more property developers adhere to the latest industry standards. There has also been an increase in the number of current property structures being renovated and improved by incorporating elements of sustainability. This has made certain property development projects more sustainable compared to how buildings were designed several decades ago. Although the rising costs of energy-efficient structures has always been an initial concern for both property developers and tenants, this is usually resolved when long-term savings begin to shed light on the benefits of green architecture.

The continued growth of environment-friendly property structures have led to an emerging demand among companies, especially multinational ones that have corporate sustainability requirements, for office spaces in buildings that are sustainable and have all the elements of green architecture. Many of these firms practice sustainability measures in their own workplaces the way they operate as companies anchored on their respective corporate sustainability ethos. By being at the forefront of conservation and practicing what they preach, these companies benefit from increased productivity among employees, especially those who become more creative and innovative.

According to JLL, the momentum that has been generated by property development firms toward green architecture could be further sustained and enhanced if the national government and local government units offer incentives in the form of lower taxes and faster processing permits to companies that plan sustainability and green architecture initiatives for their projects. JLL noted that among the cities in Metro Manila, the local government units of Quezon City and Mandaluyong City have so far implemented their own green building initiatives.

Designing a sustainable structure is all about efficiency — from how the space and materials would be used to the comforts that prospective tenants ought to experience. It should be a comfortable space that could stand the test of time and provide a better overall experience not just to the tenants but to those who would frequent the building as well. A well-designed green building not only contributes toward energy conservation, but also is able to deal with erratic weather. In this era of global warming and climate change, it only makes sense for all the stakeholders in the property development sector to veer toward sustainability and collectively develop greener ways that offer solutions to the planet’s growing environmental problems.

BOUTIQUE DEVELOPMENTS

MAKING THEIR MARK IN PHILIPPINE REAL ESTATE

by Riena Solacito

It is not how grand the scale of the business is. It is always about what one can do and how good they do their job - building for and satisfying the people with their service.

Since boutique real estate developers have captured the public eye by earning their own category in the recent years, the number of emerging small-scale developers have also increased. They independently challenge the big industry players in the field of real estate, and have created award-winning properties through the years. Together with the rise in numbers and the continuous increase of real estate demands, their growth and name in this field are also blooming.

In this chapter, the spotlight is on the boutique developers in the Philippines. Who are they and how do they do things differently? Out of the hundreds of property developers in the country entering the picture and coming from their performances this year, learn which among these small-scale real estate businesses are on the rise and which ones to watch for. Discover what makes each property developer unique and at par with their giant competitors.

An interview with Ivy Almario, President of Atelier Almario, is also found in this chapter. She will shed some light on the famous design elements or trends found in these boutique developments.

And finally, discover which five developers were nominated and who were named the Best Boutique Developer of the Year in Luzon, and in Visayas and Mindanao.


RISE OF BOUTIQUE DEVELOPERS IN
THE PHILIPPINES

by Paul Villegas

Boutique developers are slowly gaining a foothold in the country’s property development sector and continue to be recognized for their contributions in changing the Philippine realm estate landscape.

Although the majority of the big-ticket projects in Metro Manila, Cebu, and Davao are helmed by some of the country’s major property developers such as Megaworld Corporation, Ayala Land, Inc., Vista Land & Lifescapes, Inc., SM Development Corporation, and Federal Land, Inc., it is the projects with the signature designs of boutique developers that accentuate a city’s urban landscape. These boutique developers, which have an average of two to three small property development projects, often create architectural wonders and aesthetically pleasing masterpieces that make neighborhoods stand out.

More often than not, boutique developers create property projects that are not your typical high-rise buildings with all the grandeur attached to it screaming to be noticed. Instead, boutique developers quietly weave their mark in the community, often building low-rise properties that have only a select number of units for a few tenants. They do not show off their design qualities, but they are noticeable and politely acknowledged by almost everyone in the neighborhood.

“I think the word friendly is very important,” says Mark Curzon of Architectus in describing what differentiates boutique property developments from major property development players. “You’re part of a street, part of a community. You’re not trying to stick your hand out and go ‘look at me, look at me’,” he added in an article published in the website Domain.

For some property seekers in the Philippines, the relatively small development projects by boutique developers are more appealing compared to what major property development firms are offering. This is because they project an energy and an aura that make their signature properties friendlier and more vibrant compared to the typical projects of the country’s major property development firms.

ArthaLand Corporation, one of the country’s boutique developers, is known for projects that are enduring, unique, and sustainable by adhering to green standards that are recognized globally. “As a boutique developer, we always focus on quality rather than quantity. We believe that the market is all ready to adopt our philosophy of sustainability and this is where we see the property sector’s direction,” says a representative from ArthaLand Corporation in an article published in the Philippine Daily Inquirer.

Compared to some of the country’s bigger property developers, ArthaLand Corporation’s projects are smaller and offer a lower number of units. However, they are integrated with resourcesaving green features, a plus factor to property seekers who are more discerning, well-traveled, and highly educated — the kind of tenants and homeowners that ArthaLand Corporation hopes to attract for its high-quality properties.

Another boutique developer that is lauded for its property projects is Mañosa Properties, Inc., a property firm founded by architect Francisco Mañosa. The company is focused on the upscale property development segment of the real estate market and has created artisanal urban communities for an elite clientele. For instance, the design and concept for their Campanilla Lane and Tagô developments in New Manila and Tagaytay, respectively, were inspired by Philippine ancestral homes that incorporate traditional Filipino elements infused with contemporary architecture and innovative designs that are environment-friendly.

Boutique property developers like ArthaLand Corporation and Mañosa Properties, Inc. are known for delivering property projects that have an elevated level of design anchored on exceptional quality and sustainability. Most of their projects are certified under the US Green Building Council’s Leadership in Energy and Environmental Design program, a seal of approval that says they have undergone a rigorous green certification process. Some are also registered under the Philippine Green Building Council’s BERDE program, which stands for Building for Ecologically Responsive Design Excellence. These green rating systems assure buyers and tenants of boutique property developments that are environment-friendly.


BOUTIQUE DEVELOPMENTS: It’s Personal

by Des Arellano

The constant search for unique, personalized, and share-worthy experiences have upped the demand for boutique developments in the country. Ivy Almario, President of interior design studio Atelier Almario, says that these are here to stay.

A one-of-a-kind experience

Intimate, chic, and usually located in trendy urban areas, boutique developments distinguish themselves from property chains in a way that one is made to feel like a guest in private enclave and is not just a paying occupant.

“The limited number of rooms can allow for variations in design, for instance. Higher budgets per room are also possible, allowing designers to introduce one-of-a-kind design features,” Ms. Almario explains.

Boutique developments often add local flavor by incorporating locally-sourced materials into the design elements; the location’s heritage is likewise reflected through the use of color and art. Themed boutique developments build the entire guest experience, from décor to services provided, around a particular interest.

Maximizing space

When it comes to designing boutique developments, Ms. Almario says space is the primary consideration. These are usually small; there are no big foyers or grand ballrooms to play around with and sweep guests off their feet.

“When we design boutique properties, clients are always challenging us to come up with the unique differentiator, which makes their size an asset instead of a liability.”

“The back of the house is generally smaller and the seat counts for the dining rooms are limited by size. Rooms tend to be larger too, with larger bathrooms, to achieve the luxe look and feel,” she says.

“One is challenged to deliver the best space planning and best space utilization possible. Also, it helps to create an ambiance that oozes with charm and impactful vignettes. Intimate spaces with a residential feel are always successful in instances like this.”

It always starts with a story

Whether minimalist-inspired or Art Deco-themed, boutique developments convey a sophisticated and progressive design sensibility.

When asked about her Atelier Almario’s design process, Ms. Almario says, “In boutique developments, we start with a story, a design narrative we faithfully carry out, for design cohesion. Every element matters because a boutique development’s edge is that it is bespoke, no cookie cutter looks that huge developments are oftentimes guilty of.”

Known for transforming residences, hotels, restaurants, and offices into elegant yet charming spaces, Atelier Almario has worked on boutique developments such as the Astoria properties in Boracay and Palawan.

Asked about her favorite boutique developments, Ms. Almario says, “For me, the real boutique hotel that I love is The Henry in Pasay. If Antonio’s in Tagaytay decides to have rooms and villas that, for me, would be a really special boutique property.”

Not a fad, but a necessity

Ms. Almario believes boutique developments were created out of necessity.

“I think boutique properties were never a trend, they are the real product of land acquisition. When land is prime and the cut is small, a boutique property is born. When there is abundant land but the budgets are small, boutique properties are also conceived. It’s the best use of resources, in different scenarios.”

We could not wait to see more of them, indeed.

PERSONALITY OF THE YEAR

by Angelo Tan

Focus and hard work are recurring qualities found in the world’s most successful individuals. This is made even more potent when coupled with good planning and solid execution. When these characteristics are combined, these remarkable individuals create wonders in their chosen fields. Their achievements inspire those in their industry to strive for excellence, providing a type of roadmap for those who are likewise seeking ways to contribute to building a better tomorrow.

Being recognized in the highly competitive real estate industry is no small feat. This chapter is dedicated to honoring a special individual whose years of hard work and dedication is now propelling the sector forward, rightfully taking the accolade as The Outlook 2018’s Personality of the Year.

That esteemed individual is none other than Mr. Jeffrey C. Lim, concurrently the President and Executive Director of SM Prime Holdings, Inc. This chapter contains excerpts from an interview with the real estate icon, detailing some key points on what ultimately led him to become a top officer of one of the country’s largest conglomerates. His efforts have undoubtedly produced good ground from which the real estate industry can further develop and flourish.

Mr. Lim’s influential leadership has helped steer SM Prime Holdings, Inc. on its steady course towards its company vision which is “to build and manage innovative integrated property developments that are catalysts for a better quality of life.”

In line with this, SM Prime Holdings has been steadily developing its portfolio under its main divisions. This chapter will also highlight some of the upcoming projects the company has in store for the Philippines. It is also a glimpse into the 2018 Personality of the Year, Mr. Jeffrey Lim.


THE OUTLOOK 2018’S PERSONALITY OF THE YEAR

by Angelo Tan

The Outlook 2018’s Personality of the Year is Mr. Jeffrey C. Lim, the President and Executive Director of SM Prime Holdings, Inc. Mr. Lim heads one of the country’s biggest real estate company when it comes to market value. He was highly instrumental in its growth as one of its most trusted officers. SM Prime Holdings will continue to expand in the coming years as they seek to tap into the real estate market in the provinces.

An Exceptional Leader

At only 56 years old, the Tawi-Tawi native has held the position of President and Executive Director of SMPH since 2016. Mr. Lim is a founding member of the Philippine chapter of the Asian Public Real Estate Association Ltd. His talents have likewise been beneficial to other companies. He concurrently holds the position of Director in:

  • Pico de Loro Beach & Country Club, Inc.
  • Concrete Aggregates Corporation
  • OCLP Holdings Inc.
  • Capitol Commons Corporation

 

His importance to the real estate industry is unquestionable, and he serves as proof that hard work can take you to the top of your chosen field. He also cites focus and being results-oriented as key ingredients to his success. These are some of the family values he observed from working closely with the Sy family throughout the years.

A Valuable Mind

Mr. Lim has consistently excelled in his career, whether away or right in the middle of the spotlight. SM Prime Holdings, Inc. was incorporated in 1994, which was the same year he joined the company. He served as its Vice President for Finance and Administration between 1994 to August 2006. Mr. Lim was then promoted to Executive Vice President in August 2006. He was employed in such capacity until March 2016.

Mr. Lim, however, has been concurrently holding other positions within the SM Group. He was also SMPH’s Corporate Information Officer between 2006 to 2016. Mr. Lim became an Executive Director of SMPH in April 2016 and its President since October 2016. He has undeniably played a big role in the company’s expansion efforts throughout the decades. When he joined SM back in 1994, the company only had four malls. As of June 2018, SMPH has 70 malls in the Philippines, with another seven in China.

A Trusted Partner

Mr. Lim is a graduate of the University of the East, with a Bachelor of Science degree in Accounting. He is a Certified Public Accountant and is a Member of the Financial Executives Institute of the Philippines. Before joining SM, he was initially with SGV & Co. as an auditor from 1981 to 1988. He went on to join global IT firm, Unisys in its Philippine office to head its Accounting and Treasury department. Mr. Lim continued on with the Hong Kong division of Unisys, where he was deeply involved in financial planning and contracts.

He eventually returned to the Philippines at the behest of Mr. Jose T. Sio, his former boss at SGV. This opened the door to his career with SM in 1994, which was to become one of the country’s leading conglomerates. His expertise in financial management did not go unrecognized. In 2012, he was honored by the Dutch Bank ING and the Financial Executives’ Institute of the Philippines (FINEX). He was given the Chief Financial Officer (CFO) of the Year award in his capacity as the Executive Vice President and CFO of SMPH.

A Trailblazer

The Outlook 2018 likewise recognizes Mr. Jeffrey Lim’s invaluable contributions with a respected body of work that has helped create a positive impact on the real estate industry as a whole. Not only has he played a key role in increasing the company’s retail footprint in the country, but he also managed to do so in China.

Mr. Jeffrey Lim, the President and Executive Director of SM Prime Holdings, Inc., is an alumnus of the University of the East and hails from the province of Tawi-Tawi. In an interview for The Outlook 2018, he shared his views on the country’s real estate industry, presenting a candid take on its past, present, and future. Mr. Lim also imparted invaluable insights, including what it takes to be successful, especially when running a massive property conglomerate.


RISING THROUGH THE CHALLENGES

AN INTERVIEW WITH MR. JEFFREY LIM

by Angelo Tan

In an interview for The Outlook 2018, he shared his views on the country’s real estate industry, presenting a candid take on its past, present and future. Mr. Lim also imparted invaluable insights, including what it takes to be successful, especially when running a massive property conglomerate such as SMPH.

Rising to the occasion

The conversation started out with what he found most interesting about the real estate industry. He viewed it as resilient even in the face of the challenging economic environment that it continues to go through. Among the hurdles that he cited were high inflation, rising domestic interest rates, and a volatile currency.

The industry, however, continues to surpass these potential stumbling blocks. The market is still bullish on property investment and positive reports on its different segments are quite promising. Mr. Lim says that there was, “strong sales take-up on the residential market, tight vacancy rate in the office market resulting to higher rentals and continued entry of global brands in the retail market in both food and non-food categories.”

This is highly encouraging and may be further bolstered by what could be an even friendlier business climate in 2019 due to fewer costs to do business.

Capitalizing on opportunities

The real estate market is in a constant state of flux. Developers, as well as consumers, have to take advantage of favorable circumstances when it presents itself. On the other hand, they should also be able to work with what they have to produce positive results.

Mr. Lim identified one of the important turning points in the industry, which transpired after the global financial crisis. It was around 2009 to 2010 when interest rates were among the lowest that they have been. This gave developers easier access to financing for their projects. At the same time, more buyers were able to borrow money to purchase such developments at cheaper interest rates.

In spite of the many opportunities for growth, Mr. Lim also views the market as being more challenging in the near future. There is a wide playing field for development in the provinces as well as the immediate vicinity surrounding metropolitan areas. The entry of more real estate companies both local and regional alike means an increasingly competitive atmosphere. This is good for the industry, especially for the end users. Higher quality deliverables sold at more attractive price points are likely to be produced to vie for the attention of customers.

Strategic mind set

Mr. Lim believes the real estate industry will continue to be competitive within the coming decade. There would be more aspects to grapple with, aside from the physical side of the business. He stated that, “One should contend with the growing online shopping demands, AI technology reducing the need for office space and limited huge tracts of land to develop new towns or cities.”

The ability to forecast such movements comes with being among the undisputed leaders in the real estate market. Having drive, persistence and patience to allow things to develop at the right time are some key traits for success in the industry. He stays on top of the situation, aware of the shorter cycles of the business compared to others. These characteristics have aided him in his career and could potentially help those who aspire to take a similar path as well.

Good leader, good teacher

There are of course many more reasons why the top executive of SM Prime Holdings, Inc. was able to guide the company to where it is today. He traces it back to the guiding principles of its founder, Mr. Henry Sy. SMPH is a leader because of Mr. Sy’s beliefs: “Success is not good luck; it is a combination of hard work, good credit standing; opportunity, readiness, and timing.”

This has resulted in a company culture that is Performance-Driven, Results-Oriented, Intense, Mindful and Exceptional. The first letters of these attributes form the word PRIME in SM Prime Holdings, Inc.

Property buyers can look forward to bigger and better projects in the future. SM Prime Holdings, Inc.’s commitment to being a catalyst for economic growth, delivering innovative and sustainable lifestyle cities hopes to enrich the quality of life of millions of people. Under Mr. Jeffrey Lim’s leadership and the firm’s stellar track record, such ideals are sure to become a reality.


SM PRIME HOLDINGS, INC.

CHANGING THE PHILIPPINE PROPERTY LANDSCAPE, ONE DEVELOPMENT AT A TIME

by Des Arellano

Starting out 60 years ago as a humble department store in the heart of Quiapo, SM has become a household name, giving Filipinos more than just memorable shopping experiences. The company has since ventured into other industries such as real estate, thus, SM Prime Holdings, Inc. came to be.

Originally a mall developer and operator, SM Prime Holdings, Inc. has grown to become one of the largest integrated property developers in the region. In the Philippines, it is the largest property developer in terms of assets. Its impressive portfolio covers malls, residences, offices, hotels, and convention centers.

Malls

SM Prime Holdings, Inc. started its mall development business with the opening of SM North EDSA in 1985. The business is now under Shopping Center Management Corporation. Currently, it has 71 malls nationwide and seven in China, totaling a gross floor area of 9.4 million square meters. Over the years, SM Prime Holdings, Inc., through its malls, has nurtured the growth of small to medium enterprises, considered the backbone of the country. Moreover, the concept of “malling” has become ingrained in the Filipino lifestyle.

Residences

SM Development Corporation is SM Prime’s residential arm and is known for developing aspirational vertical villages, or condominium communities, in key locations across the metro such as Makati, Mandaluyong, Manila, Parañaque, Las Piñas, Pasay, Pasig, Quezon City, and Taguig, as well as Tagaytay City. SMDC has since widened its reach to include mid-rise buildings and single detached homes to cater to different market segments.

SM Prime Holdings, Inc. has placed its bets on the country’s rich natural resources and huge tourism potential with leisure developments such as Hamilo Coast and Tagaytay Highlands.

Located in Nasugbu, Batangas, Hamilo Coast is envisioned to be one of the premier sustainable beach resort towns in the country. The property encompasses three major mountain peaks and 13 coves, three of which are Marine Protected Areas. The exclusive, 1,300-hectare Tagaytay Highlands, meanwhile, is a mountain resort and residential complex with breath-taking views of Taal Lake.

Commercial Properties

SM Prime Holdings, Inc.’s Commercial Properties Group develops, leases, and manages office buildings in prime locations within Metro Manila and in other regions.

These developments include the E-com Centers in the Mall of Asia Complex - modern office buildings catering to technology-based industries and business process outsourcing (BPO) companies. Also designed for BPOs are the SM Cyber Buildings - a mix of build-to-suit and ready-to-use office spaces in Makati City.

Hotels and Convention Centers

SM Prime Holdings, Inc.’s SM Hotels and Conventions Corporation (SMHCC) develops and operates hotels throughout the country with a current portfolio of 1,514 rooms. These rooms are housed in the 261-room Taal Vista Hotel, a heritage hotel located in Tagaytay City; the upscale 396-room Radisson Blu Hotel in Cebu; the 154-room Pico Sands Hotel in Hamilo Coast; the 202- room Park Inn by Radisson in Davao; the 154-room Park Inn by Radisson in Clark, Pampanga; and the deluxe 347-room Conrad Hotel in the MOA Complex.

SMHCC’s SMX Convention Centers in the MOA Complex, Taguig, Davao, and Bacolod are venues of choice for trade fairs, concerts, conferences, exhibits, and other special events. SMHCC also operates trade halls in SM Megamall and SM City Cebu. SMX has a total of 35,623 square meters of gross leasable area, making it the largest privately run exhibition and conventions business in the Philippines.

With more shopping centers opening in the provinces, the increase in mall and event revenues, and sustained residential property sales, SM Prime Holdings, Inc. is poised for further growth in the years ahead.

EMERGING CITIES

ILOILO, BULACAN, AND BAY AREA


When we talk about real estate or property development, it has always been about Metro Manila. However, with the congestion and saturation in this area, today's real estate developers are thinking of ways on how to address the problem while expanding their businesses.

As the population grows, so does the demand for residential and commercial infrastructure. If you are a potential investor or simply one of the curious ones, this chapter will serve as a starting guide on good locations within Metro Manila and beyond.

In this chapter, we take a closer look into two of the most sought-after, up-and-coming provinces in the Philippines. Iloilo, a province found in the Western Visayas, and Bulacan, a budding province found in Central Luzon, are analyzed for their developments and their current real estate economic status.

The Bay Area in Manila is also under the spotlight in this chapter with a focus on the POGO (Philippine Offshore Gaming Operators) industry and how it is helping the country's economy, current property developments and the future projects rising in the area.

The chapter will conclude with the nominees and winners for the prestigious Best Developer of the Year award for both Luzon, and Visayas and Mindanao.


EMERGING CITIES SPOTLIGHT: ILOILO

RE-EMERGING AS THE QUEEN CITY OF THE SOUTH

by Riena Marie Solacito

Iloilo has always been among the top cities of the Philippines – may it be the in Top 10 Best Philippine Provinces of TopTen.com or the top richest cities, provinces, and towns in the country. There is always something about the province to be proud of, as it takes the spotlight once again.

The Iloilo Market

Iloilo was also once known as the "Queen City of the South," bearing the same title as Cebu. The Ilonggos are some of the warmest, happiest, and most humble people to meet. Any write-up about Ilonggos will tell you how charming and sweet they are. The tone of Hiligaynon, their soft-spoken language, may be a contributing factor that makes them genuinely accommodating by nature. This fact alone draws tourists to come and visit again and again.

Iloilo is also an example of how ancient and urban living can mix seamlessly. As one of the few who take pride in their ancestry and history, Iloilo, with lots of historic churches, ruins, and heritage sites, is an endless discovery of amazing baroque and neoclassical architectures. Add to the list of places to explore the surrounding beach and islands, with well-preserved marine sanctuaries. Slowly developing into an urban area, Iloilo also offers great entertainment, vertical residential options, and more job opportunities. This is on top of the annual grand festival with great costumes, dancing, and props, the Dinagyang Festival every January, and their famous Pancit Molo, La Paz Batchoy, and fresh seafood.

Another thing to love about the place is its beautiful location. Iloilo is in the “heart of the Philippines,” right in the southeast portion of the Panay Island in the Visayas and surrounded by other beautiful islands and sceneries. It has its own international airport and shipping docks. Tourism and business are not a problem.

Current Developments

It was Q1 this year when Colliers International Philippines (CIP), an industry-leading global expert in real estate properties, stated how Iloilo’s limited supply of office space was the reason behind the limited growth of the BPO business in the area. Colliers concluded how ripe Iloilo is for growth especially with its labor pool and supportive local government.

For the residential sector, according to the report, the vertical market has been noticeable, despite being in its early stages of development. Success is again due to the expanding BPO businesses. Residents are either workers living outside the city or OFW families.

Present Real Estate Economy

Iloilo City is one of the fastest rising cities in the Philippines. Alongside Bacolod, Iloilo is one of the ‘growth-poles’ of the Visayas, as per National Scientist, Dr. Raul Fabella. It is also recognized as the second most competitive city in the country this year while also being the number one city in governance. Iloilo also landed a spot as one of the top safest cities to live in South East Asia this year. For people wanting to do business, Iloilo is a good place to start. The award-winning municipality’s local economy is the center of trade, with its accessibility in terms of local and international transportation.

Because of this, investors from around the world continue to flock to Iloilo to become part of the development happening in the area. Local real estate developers push progress forward by putting up projects, hoping to also increase work opportunities. An increase in work opportunities will also mean an increase in the number of population and workforce. The government, meanwhile, plans to keep the cost of living in the province at a level that is 35% cheaper compared to urban cities, despite the progressing scene.

In the face of all these, Iloilo still prioritizes its agricultural beginning. Governor Defensor stated that Iloilo is set to launch the biggest dam outside Luzon, which will irrigate 32,000 hectares of farmland for rice and sugar. The structure will look to sustain the food production, agricultural business, and the tourism industry of Iloilo.

The continuous advancement and the unceasing resettling of people from the nearby islands to Iloilo for employment and an urbanized yet affordable way of living are proof of the booming current economic status of Iloilo and its undeniable progress as another queen city in the South.


EXPLORING BULACAN: A CRADLE OF PROGRESS

by Paul Villegas

The Province of Bulacan is nestled within the fertile lands of Central Luzon. It is surrounded by the provinces of Pampanga in the west, Nueva Ecija in the north, Aurora and Quezon in the east, and Rizal in the south. It also enjoys the advantage of proximity to Metro Manila. Due to its strategic geographical location, Bulacan is popularly known as the "Gateway of the North," especially that it is the first province to greet anyone traveling through the North Luzon Expressway (NLEX). Bulacan has the fastest growing economy in the Central Luzon region. It is home to 21 municipalities and three component cities. Its population also grew significantly in the past years. According to the 2015 census, Bulacan has a total population of 3,292,071, which is 67% higher than the recorded data in 2000. This growth in population is said to be a result of the inland migration from neighboring areas.

Present Real Estate Economy: Municipality of Bulacan

One of Bulacan’s first class municipality is the Municipality of Bulacan, a namesake of the province with a population of 76,565 (2015 census). It is one of the oldest towns in the Philippines. The municipality used to be the capital of Provincia de la Pampanga before becoming Bulacan’s first capital.

Despite being a town, it is a bustling hub of economic activities owing to its proximity to Manila. This municipality lies at the southwestern part of the province and is only 35 kilometers away from the National Capital Region (NCR).

Due to the major infrastructure projects that are soon to rise in Bulacan, the town’s real estate market has become more promising. The country’s largest homebuilder, Camella Homes, Inc., is one of the major real estate developers in the municipality, with a 13.2-hectare development. Rockavilla Realty and Development Corporation is another developer in the municipality with a 3-hectare residential development in Brgy. San Nicolas.

City of San Jose del Monte

The City of San Jose del Monte is a suburban city located in the north of Caloocan and Quezon City. It has a population of 574,089 (2015 census), which makes it the 19th most populated city in the Philippines. But this huge population is not only attributed to natural population growth, but also to inland migration, since the city is one of resettlement sites designated by the National Housing Authority for informal settlers from Manila, Makati, Taguig, and Quezon City. The Sapang Palay Resettlement Project is, in fact, one of the country’s largest resettlement areas with a population akin to a medium-sized city of 250,000 residents.

In recent years, San Jose del Monte has become a hot spot for real estate development. The urban energy, blended with the natural ease of the province, has attracted developers to invest in this growing metropolis and address the demand of mid-end and high-end markets. Major developers include Ayala Land, Inc., which invested P6.8 billion to establish Altaraza Town Center, a mixed-use development project, and Camella Homes, Inc. by Vista Land, which already has three subdivision projects in the city.

City of Malolos

Malolos is a third-class city and is the capital of Bulacan Province. It is composed of 51 barangays and is only about 45 kilometers from Manila, which makes it easily accessible to NCR. Despite its deep historical roots and archaic ambiance, Malolos is fast becoming a highly urbanized city. The development of the NorthSouth Commuter Railway Project that connects Manila to Clark, Pampanga has benefited the city, since it serves as a temporary endpoint.

It is no surprise that major developers have started investing in the city’s real estate market, including Avida Land Corporation and Asian Land Strategies Corporation. Camella Provence by Camella Homes, Inc. is another developer, with a 300-hectare residential development, and is currently the most coveted community in Malolos.

Progressive Economy

The next coming years will see more business and real estate investments in the province of Bulacan. Demand for housing units is expected to rise. Property developers are expanding their footprint in affordable housing to take advantage of the bullish market and its high purchasing power.

Aside from the low land costs and proximity to Metro Manila, investors are also interested in the aggressive infrastructure development of the Province. The ongoing construction of Metro Manila Skyway project and the Bulacan Bulk Water Project have attracted investors from different trade and commerce. These projects will spur future developments and provide convenient access to business and commercial hubs within and outside the province. Bulacan is also set to establish a Techno Hub that could generate more job opportunities and advance the technological landscape of Bulacan.

The construction of the 22-kilometer proposed MRT-7 project with 14 stations from North Avenue to San Jose del Monte is another promising infrastructure development that could benefit Bulacan’s real estate industry. By the end of its construction in 2020, the province’s real estate industry is expected to experience unprecedented boom.

The increasing number of infrastructure projects will also usher more real estate developments in Bulacan, particularly in the municipality of Bulacan. With the approval of the proposed SMC Bulacan International Airport, which is a 2,500-hectare aerotropolis that is to be established within the municipality, residential and business developments are expected to pour into Bulacan. Furthermore, an MRT Loop with an airport express is also proposed to connect Metro Manila to the planned aerotropolis. This public transit will run from the town of Bulacan to EDSA, which will add more convenience in travel and faster mobility of goods and services between provinces.


EXPANDING THE BAY AREA: THE FUTURE OF URBAN LIVING

by Angelo Tan

The Bay Area or Bay City, as it also called, is packed with everything that any city dweller can ever hope for. Residential condos, office buildings, luxury hotels, and commercial centers have been steadily occupying its estimated 750-hectare expanse. There is a frenetic energy surrounding the area, and it does not seem to be slowing down any time soon. It continues to become one of the favorite destinations of locals and tourists alike. Foreigners have also been steadily flocking to the Bay Area to do business in this growing district.

Rapid rise of POGOs

It was in September 2016 that the Philippine Amusement and Gaming Corp. (PAGCOR) started to welcome applications for offshore gaming operations in the country. Philippine Offshore Gaming Operators (POGO) have been taking up available office space at a swift pace since then. The minimum requirement of 10,000 square meters for each gaming license is usually doubled or even tripled by these new lessees. As of September 2018, there were 57 registered POGOs registered with PAGCOR. They have been making up what would otherwise have been a demand shortfall in office space.

Most of their operations are concentrated in the Bay Area. This is a strategic location due to its proximity to the Ninoy Aquino Airport and Metro Manila’s three CBDs. The high office uptake would necessarily require housing for POGO employees. This has also positively affected residential condominium sales and leases in Bay City. POGO office workers both foreign and domestic require housing near their workplace. Their steady influx has made them a key driver of the real estate industry.

Established developments

POGOs can be considered as among the new players in this reclaimed expanse along Manila Bay. Bay City, however, has long been progressive prior to their arrival. Its main districts are Asiaworld, Financial Center Area, Central Business Park (I-A, I-B & I-C) and the Cultural Center of the Philippines (CCP). Each has steadily been occupied by notable developments that constantly attract visitors and investors. Among them are:

  • SM Mall of Asia Complex
  • Aseana Business Park
  • Entertainment City (Okada, Solaire and City of Dreams)
  • Cyber Bay City
  • World Trade Center
  • Philippine International Convention Center

 

Surrounding these landmarks are more commercial areas, government buildings, and businesses. There is Sofitel Manila, the Government Service Insurance System (GSIS), the Department of Foreign Affairs and Metrobank’s Metropolitan Park. These serve as beacons for more companies to set-up in the Bay Area. They also create a logical requirement for more developments to be built to house the growing residential needs of this emerging CBD.

Future projects

Developers have been enjoying brisk sales in the area. DMCI, for example, was able to quickly sell Bay City’s first luxury waterfront property, the Oak Harbor Residences. The first two buildings are slated for completion in June 2020. Megaworld’s Bayshore City is also constructing multiple developments in the district. It has Bayshore Residential Resort 1 & 2, Kingsford Hotel and Grand Westside Hotel in its list of projects.

Ayala Land is building a mall in a 9.2-hectare space it leased from the Wenceslao group. It will be called Ayala Malls Bay Area and is sure to provide more family-oriented destinations along Manila Bay. Also under development is Aspire Corporate Plaza, a high-end office building from Golden Bay Properties. These along with many more projects in the works are set to contribute to Bay City’s impressive progress.

Government support

Backing these advances are infrastructure projects. They will provide easier access to the Bay Area, further encouraging the flow of commerce and improving investor outlook. The recently operational Parañaque Integrated Terminal Exchange (PITX) will significantly reduce vehicular traffic along Roxas Boulevard. Buses coming from the provinces will offload commuters here and transfer to smaller modes of transportation such as shuttles.

There will also be an LRT-1 extension project that will span 11.7 kilometers, starting from Baclaran Station and ending at the planned Niog Station in Bacoor, Cavite. Eight new stations will be created along this line, which will include Asiaworld. This will provide another means of entry for commuters into the Bay Area district.

The Philippine government will continue to work with the private sector to spur the economic growth of the country. Bay City’s continued upward trajectory will surely be among the drivers in its progress.

COMMERCIAL REAL ESTATE LANDSCAPE

AN EXCLUSIVE RESEARCH BY JLL

The commercial real estate market in the Philippines is showing no signs of slowing down, with about 31,700 sq.m. of office space added in Metro Manila in Q3 and about 2.1 million sq.m. expected to be added from Q4 to the end of 2020, according to JLL. The central business districts of Makati, Bonifacio Global City, and Ortigas lead the way, with buildings that keep on getting higher to accommodate the companies and employees that wish to set up shop in these areas. However, the growth is experienced throughout Metro Manila, which is being driven by the demand from offshoring and outsourcing firms, the supply of flexible working spaces, and the emergence of e-commerce companies.

This chapter focuses on two major trends in the country’s commercial real estate market, namely the growing popularity of flexible working spaces and the expansion of tech companies.

Flexible working spaces, classified into serviced offices and co-working spaces, have seen the most growth in the Asia Pacific Region compared to anywhere else in the world. The same trend can be found in the Philippines, as such office spaces offer flexibility, lower costs, provide simplicity and convenience, foster collaboration and innovation, and encourage community-building.

Technology-focused companies, meanwhile, have pushed the commercial real estate market to greater heights, due to a variety of reasons that include the country’s talent pool and lower rent costs compared to other key cities in Southeast Asia. Technology is rapidly developing, and the commercial real estate market will need to move with the same agility to be able to address the needs of the sector.

The commercial real estate market will continue to evolve alongside the Philippine economy, which will support the companies that choose to invest in the country, as well as the employees who work for their own bright futures.


TeCH COMPANIES CHANGING THE OFFICE LANDSCAPE

IN METRO MANILA

 

Technology companies such as co-working companies, gaming companies, e-commerce, hardware providers, internet companies, and those in the Information Technology (IT) sectors have been expanding rapidly in Southeast Asia, evidenced by the growing leasing transactions of these firms. Singapore, for instance, has served to be a hotbed for these technology companies with the likes of Google, Lazada, Garena, Amazon, and Facebook, locating in this country. Like other Southeast Asian countries, there is also an increasing demand for office spaces in the Philippines from technology companies.

In general, technology companies have steadily expanded their operations in the Philippines. One of the factors driving the growth of the technology sector in the country is the healthy performance of the Philippine economy, backed by the relatively young and tech-savvy Filipino population. To add, the technology-driven lifestyle of the millennial population is key to behavioral patterns in terms of consumption and is an important factor in the employment opportunities for technology companies. Further, office rents in the Manila are relatively cheaper than other key cities in Southeast Asian countries such as in NCR Delhi, Bangkok, and Ho Chi Minh City.

Key considerations of technology companies in selecting locations for their offices in the Philippines include access to talent pools, supportive government policies, lower cost of rent, access to customers, proximity to amenities such as food and beverage and hotels, proximity to transportation links, and, infrastructure. Further, most technology companies have cited that CBD areas such as Makati CBD and Bonifacio Global City, followed by Ortigas CBD are their preferred locations in setting up shop in the Philippines. These locations are heavily favored due to the accessibility that these areas provide to their employees. Likewise, internet connections, power redundancy, larger floorplates, and room for expansion are more readily available in CBD areas.

Technology hardware companies like Dell, Intel, Huawei, Acer, and Fujitsu have been operating in the Philippines for decades. In the last two years, e-commerce companies like Lazada, Zalora, Shopee, and Grab have also started entering the Philippine market. Flexible space operators like WeWork and IWG have extended their footprint. Aside from these known established technology companies, a good number of start-up companies have also entered and expanded operations in the Philippines such as Level Up, Chikka, Airborne Access, and iRemit, among others. The number of start-ups in the Philippines is forecast to maintain stable growth. In 2015, the estimated total number of digital start-ups in the country is 100 firms with roughly 1,700 highly-skilled employees. By 2020, the Philippines is eyeing to have around 500 digital start-ups with 8,500 highly-skilled employees.

It is anticipated that the expansion of technology companies in the Philippines is likely to change the office property landscape in terms of occupancy. From 2013 to 2018, the occupation of Office Net Lettable area in Metro Manila grew a staggering 1,022% from 2,300 sqm to 25,900 sqm. In the same period, Gross Leasing Percentage rose from 0.88% to 6.52%. The increasing presence of technology companies in recent periods have shown their potential as key demand drivers of office occupancy in the Philippines.

The evolution of technology has spurred growth in the office sector as the spending patterns and behavioural consumption of the millennial generation highly influences the operational movements of technology companies. The Philippine real estate industry is forecast to show a positive trajectory, with technology companies as an emerging office space occupier – changing the composition of the office landscape.


EVOLUTION OF FLEXIBLE WORKSPACES IN
THE PHILIPPINES

 

The demand for flexible workspaces is growing faster in Asia Pacific than other regions in the world. It is estimated that the total stock of flexible workspaces from 2014 to 2017 in the Asia Pacific region grew at a compounded annual growth rate (CAGR) at 35.7%, exponentially faster than the recorded CAGR of 25.7% in the U.S. and 21.6% in Europe. Further, the number of major flexible workspace operators has doubled and flexible workspaces has increased by 150% in the region between 2014 and 2017.

Flexible workspaces are identified as office spaces managed by operators with two types, namely serviced offices and co-working spaces. Serviced offices appear to have a traditional office environment, while co-working has open spaces promoting a more collaborative environment. In recent years, there is an increase in demand for co-working spaces from freelance workers, start-up companies, smaller corporate firms, and information technology firms.

SERVICED OFFICES

Serviced offices are flexible spaces typically occupied by corporate organizations and more established small businesses. In contrast to the traditional office lease, a serviced office is usually a fully-furnished office suite which offers a range of amenities including phones, internet and other utilities; managed reception services and administrative support; and security services, among others

CO-WORKING

Co-working is centered on creating an alternative work setting supporting collaboration, openness, knowledge-sharing, creativity, innovation, user experience, and community. This type of flexible space typically appeals in the urban areas of the country. The environment that co-working spaces provide is observed to make millennials better workers, are more technology competent and take a better grasp of the entrepreneurial concept. The growth of creative and technology industries as well as the changing nature of work are some of the demand drivers for coworking space. Mobile technologies and personal devices have made working remotely from a variety of locations much easier. Another key driver in the increasing demand for co-working spaces is government participation. Some governments in the Asia Pacific encourage entrepreneurship to offset the slow growth in traditional industries. They offer financial incentives and backing for small companies, many of which locate in co-working-style spaces.

BENEFITS OF FLEXIBLE WORKSPACES FOR TENANTS

There are five common benefits that flexible spaces offer that make them attractive choices for businesses. These are:

  • Flexibility – Firms are not constrained to a long-term lease agreement; further, short term contracts allow certain flexibility in the total number of headcount or employees of organizations need to change based on changing business strategies.
  • Cost – Flexible spaces are more cost-effective than traditional office spaces.
  • Simplicity and Convenience – Firms are able to move in and out of office spaces on short notice skipping occupancy challenges such as complicated contract negotiations, fit out work, and dealings with brokers, landlords, and property managers.
  • Collaboration and Innovation – shared work spaces encourage collaboration and exchange ideas fostering innovation
  • Community – Operators of flexible workspaces encourage community-building by offering activities and amenities to improve member well-being and to promote social and business networking.

 

The presence of flexible workspaces in the Philippines started around 1990s when serviced offices were introduced to the market. More recently, we have observed the rise of co-working spaces due to the demographic shift towards a younger and more tech savvy workforce.

In 2014, the supply of flexible office spaces was estimated at 5,600 sq.m. with an annual growth of supply of 9.7%. These figures saw a decline in the next two years but rebounded in 2017, when supply rose to 9,700 sq.m., up 13.1% y-o-y. From 2014 to 2017, around 1,000 new seats from flexible office spaces were completed annually in Makati and BGC alone. These areas have been identified as the preferred locations for flexible workspace due to the agglomeration of businesses in these districts, creating spill over demand from larger tenants in need of short-term additional space and attracts prospective locators with small requirements seeking premium addresses near their clients.

Offshoring and Outsourcing (O&O) and corporate businesses are the main occupiers, typically using the properties as a temporary or swing space especially on the initial stages in entering the Philippine market, while start-ups and smaller enterprises, comprised of both corporate and IT firms, are the businesses that prefer flexible office spaces in the Philippines.

The supply of flexible space in the Philippines is expected to grow in 2018 and the coming years, as major global and regional flexible space operators continue to expand their footprint in Metro Manila. WeWork, a U.S. co-working and office space provider, will officially open its 800-member facility in BGC on December 2018 at Uptown Bonifacio Tower 3. Spaces, an Amsterdam-born firm, opened its first site in BGC last June 2018, providing 500 sq.m. of co-working space to members within its 3,200 sq.m. occupied office space. Common Ground, a major player in Malaysia’s coworking space market, recently launched its 2,300 sq.m. coworking facility in BGC at ArthaLand Century Pacific Tower – the first of the 10 branches the company plans to open by 2019.

The emergence of flexible workspaces as the preferred office facility by multiple tenants has driven flexible workspace operators to expand in Metro Manila. The idea is seen at a regional level where the Asia Pacific region has outpaced other regions in terms of office footprint by operators in 2017. Further, there is rising interest among firms in the region to explore flexible workspaces, with majority of the recent facility launches being for co-working spaces to cater to the community-based lifestyle of the millennial generation. A similar idea is observed on a local level, as there is increasing demand for both serviced office and co-working spaces in the Philippines, creating new and alternative opportunities for property market investors.

Overall, there is a positive outlook on the flexible workspace in the Philippines. The entry of both local and international operators stimulates corporate interest in flexible space, complementing the cultural shift in acceptance of the new workstyle of millennials or the young working population. Further, these operators are seen to continue to benefit start-up companies that seek more flexible arrangements, and companies seeking for a temporary space or extension of their existing office space. Likewise, these flexible workspace operators are anticipated to continue expansion not just in the Metro Manila, but also in other parts of the country.

AWARDS

Condo


BEST AFFORDABLE CONDO OF THE YEAR 2018

WINNER: AMAIA STEPS MANDAUE
BY Amaia Land Corporation

Amaia Steps Mandaue is Ayala Land, Inc.-subsidiary Amaia Land Corporation’s first mid-rise condominium development in Cebu. This two-tower, nine-storey development with a total of 576 residential units sitting humbly along Plaridel St. in Mandaue City is a vertical housing project specifically designed for the Filipino family.

In close proximity to Cebu’s highly industrialized areas, residents of Amaia Steps have everything within their reach. Easily accessible are the city’s malls, schools, markets, hospitals, landmarks, airport, and other commercial and industrial areas; there are also retail shops within the development itself for more convenience. Public transportation is likewise accessible to residents.

Amaia Steps’ facilities and amenities promise homey comfort while in an urban setting, showing its residents that it is possible to live a truly good life in the city.

Inspired by the Philippine “Maya” and taken from the Spanish “Amaya” (meaning high place), Amaia’s brand is a marriage of best-quality property development and value for the Filipino. After all, Amaia’s philosophy is based on location, feature and amenities, quality, buying experience, and living experience. This remains true for Amaia Steps, where the company takes its tried and tested development and quality assurance to render affordable homes perfect for your children to grow up in.

 

HIGHLY COMMENDED PROJECTS

THE VERANDA RESORT CONDOS
by Filinvest Land, Inc.

The Veranda Resort Condo is a premier Filinvest Land, Inc. project tucked away in Samal Island, Davao del Norte. Situated inside the exclusive Kembali leisure-residence estate, The Veranda is a low-density enclave comprised of mid-rise condominiums designed to give its residents a hideaway in paradise. Drawing from Balinese inspirations, lush with sprawling landscaped areas, and overlooking the sea, The Veranda promises a unique resort living experience, all the more enriched by the scenic Garden Island City of Samal.

Accessible through a mere 20-minute boat ride away from Davao City, The Veranda is perfect for getaways and holidays with friends and family. The condominium development, perched on 1.6 hectares of the terrains inside Kembali, consists of 10 buildings with six units (varying from onebedroom to two-bedroom units) on each floor. It also features a three-storey amenities building equipped with a swimming pool and kiddie pool, kids’ play areas, picnic areas, open landscape areas and view decks. Meanwhile, the Kembali coast’s majestic white beach boasts various leisure activities, including beach volleyball, boating, snorkeling and scuba diving.

 

THE SOLTANA NATURE RESIDENCES
by Taft Property Venture Development Corporation

Taft Property Venture Development Corporation’s Soltana Nature Residences boasts of island living while still keeping a cosmopolitan lifestyle, as a nature-inspired development plunged right in the middle of busy Cebu. This is perfect for professionals thriving in their corporate careers, yet wanting a refreshing piece of the island without having to leave the urban setting.

Soltana Nature Residences is a landscape of peaks (15-storey buildings), hills (7-storey mid-rises with roof deck amenities), and valleys. The valleys highlight open spaces that hold green areas such as themed gardens, ponds, and orchard forests. These open spaces make up 65% of the 5.6 hectare-development.

Some other distinct features of the project are a landscaped atrium, 20-meter distances between buildings, and singleloaded hallways, contributing to its spacious, natural vibe.

Only a few minutes away from Cebu City and Mandaue, as well as from lifestyle centers and malls, schools, and beaches, Soltana Nature Residences gives you practical resort living right within the metro. Its strategic location, carefully designed natural spaces, and one-of-a-kind structure guarantee that buyers will enjoy the best of both worlds at this resort-style condominium.

 

SAEKYUNG VILLAGE ONE
by Saekyung Realty and Development Corporation

Saekyung Village One is a condominium project from Saekyung Realty and Development Corporation launched in 2014. It is a no-fuss, three-hectare condominium village in LapuLapu City, Cebu, spanning two phases, with Phase 2 currently expanding.

The project’s exterior design is minimalist and draws on traditional Korean styles, complementing its ideal function as a start-up home for modern families and practical individuals. Saekyung Village One seeks to make housing, with all the benefits that more extravagant developments would have, economical.

Situated in Lapu-Lapu City, residents enjoy convenient proximity to schools, malls, supermarkets, hospitals, and even beaches. With a seaside Mactan Island view that is unhampered by the sight of tall buildings everywhere, residents can actually enjoy the sea breeze and lush greenery in the island.

With just over 60 years of providing quality yet affordable homes to families, it is no surprise that Saekyung Realty finds success and satisfaction in its customers in Village One. With the typical Filipino’s quality of life in mind, Saekyung Realty’s engineering and design pave the way for Village One to be a great, yet affordable choice for buyers.

 

AMANI GRAND RESORT RESIDENCES
by Grand Land, Inc.

A project of Grand Land Inc., Gaisano Grand Group’s residential property development arm, Amani Grand Resort Residences is another gem in the property giant’s portfolio of innovative prestige developments.

Combining tropical resort and sophisticated city living, Amani Grand Resort Residences is a premier modern, Asianinspired development poised to redefine condo living. It is composed of six mid-rise, mid-density buildings and features world-class amenities and landscaping designed to give residents the feeling of resort relaxation within a private and secure community.

Situated in the heart of Mactan, residents can enjoy quick accessibility to virtually everywhere they need to be – malls, supermarkets, schools, hospitals, and banks. It is also just a few minutes away from the Mactan-Cebu International Airport and a 15-minute drive from Cebu City and Mandaue City.

No stranger to innovation, Grand Land Inc.’s Amani Grand is another development marrying sensible elegance and quality resort living, while remaining affordable to average Filipino families. It brings the seemingly exclusive luxury resort experience into its strategically located, well-structured and designed buildings, proving that resort living is not just for a select few.

 

BEST PREMIUM CONDO OF THE YEAR 2018

WINNER: SOLINEA
BY Alveo Land Corporation

Cebu City is the top destination for business, lifestyle, entertainment and tourism outside Metro Manila. Solinea Tower Cebu is the perfect residential option that gives access to all of these opportunities, whether you are a student, businessman, professional or tourist seeking for an idyllic place to stay.

Solinea is a multi-tower residential property development by Alveo Land Corporation. It boasts of five high-rise towers with 35 residential floors and a total of 591 condo units. With its modern architectural design, Solinea aims to provide Cebuano residents with an upscale community that prioritizes comfort and security in a highly urbanized and energetic city.

Solinea gives residents easy access to all of life’s necessities right at their doorsteps. The Ultramarine facility features four swimming pools: lap pool, leisure pool, lounge pool, and children’s pool. More special amenities are available at the Lazuli Tower, including hammock cabanas, outdoor lounge, sky deck, kid’s play area, and multi-purpose room with multimedia capacity.

Solinea also enjoys close proximity to Cebu City’s premiere landmarks and prestigious institutions. It is built within the 50-hectare Cebu Business Park development, which gives direct access to major transport, business, lifestyle and entertainment.

 

HIGHLY COMMENDED PROJECTS

ONE PACIFIC RESIDENCE
by Megaworld Corporation

One Pacific Residence is a high-rise modern condominium nestled within a 28.8-hectare resort-inspired community in Mactan Newtown in Lapu-Lapu City, Cebu. This luxury residence is another architectural innovation in Central Visayas developed by Megaworld Corporation.

It boasts of four modern residential towers, which accommodates 575 units. Residents can enjoy a plethora of superior amenities both indoors and outdoors. The condominium is complete with anything every Cebuano urbanite would expect to find in a world-class residential property.

One Pacific Residence provides easy access to a number of commercial, lifestyle and entertainment choices within the township, as well as the beautiful white sand beaches surrounding the island.

One Pacific Residence is designed by one of the country’s leading real estate developers, Megaworld Corporation. The Mactan Newtown, which is the first township in Central Visayas, has been acclaimed and recognized for its efforts to blend work and play with modern living at the heart of Cebu.

One Pacific Residence is a dream come true for upscale property investors and homebuyers who seek a high-end cosmopolitan lifestyle without the hustle of a congested metropolis.

 

VERDON PARC
by DMCI Homes

Verdon Parc epitomizes upscale cosmopolitan living in a peaceful and progressive city in Mindanao. It is a four-building condominium project developed by DMCI Homes, and the only project of the developer that features authentic resort-like amenities. Verdon Parc is a perfect haven for property owners seeking a luxurious urban lifestyle within a fresh rustic ambience.

Verdon Parc blends modernistic architecture with the tropical beauty of the south. It is designed to ensure that only superior quality amenities are available to its residents. DMCI Homes also utilized its signature Lumiventt Design Technology to build a three-story patio which allows natural light and fresh air to flow into the residential units.

Living in Verdon Parc will not only make you feel at home. It will also give the feeling of being away on a luxurious vacation through its premium facilities. There are three pools exclusively for residents’ use, along with a clubhouse, function hall, and gazebo. For fitness enthusiasts, there are jogging and biking paths. Landscape gardens and promenades are also available whenever residents want to relax and reflect on the beauty of Davao and life itself.

 

ARTERRA BAYFRONT RESIDENCES
by Sta. Lucia Land, Inc.

Arterra Bayfront Residences is a 20-storey residential and hotel development located along the beautiful coastline of Discovery Bay. It stands at the edge of Cebu’s prime tourist destination, Punta Engaño at Mactan Island, Lapu-Lapu City, Cebu. This residential property provides the exclusivity of condo living while ensuring a comfortable experience through its hotellike amenities.

This condotel innovation is inspired by its name, which literally means “art of the earth.” It not only provides the best living options to Cebu’s most exclusive urbanites, but also harmonizes modern architecture with nature’s innate artistic beauty.

This residential tower stands at the edge of the bay within the security of seawalls. Condotel units occupy the 3rd to 5th floors, with studio cut designs for each unit. Residential units, on the other hand, occupy the 6th to 20th floors. Each unit is designed to allow for an unparalleled lifestyle experience, plus the advantage of enjoying a picturesque view and the fresh ocean breeze of Mactan Island’s quintessential blue waters.

At Arterra Residences, you will not only own a luxurious residence, but also enjoy a piece of your own p

 

MERIDIAN
by King Properties, Inc.

Meridian by Avenir is a 21-storey high-rise condominium property developed by King Properties, Inc. It is strategically located right at the heart of Cebu City’s commercial and financial district.

Meridian is a unique innovation that combines the benefits of business and lifestyle. What sets it apart from the rest of the condominiums in the market is its home-office concept. With 175 units, Meridian offers various suite options to fit any type of lifestyle in a bustling urban hub. There are expansive garden suites, stylish studio suites and modern loft suites, all designed to integrate home and office in an exclusive residential address. Each suite was carefully designed to provide unparalleled luxury, space efficiency and individual comfort.

Meridian serves a niche clientele with unique business and lifestyle demands. The property makes sure that business people and professionals have convenient access to their most basic needs within the comforts of their homes.

 

38 PARK AVENUE
by Cebu Landmasters, Inc.

38 Park Avenue, a real estate development located right at the bustling district of the Cebu IT Park, is poised to become one of Cebu City’s most coveted addresses.

38 Park Avenue is one of Cebu Landmasters, Inc.’s most ambitious undertakings. The company’s goal is to offer a luxurious and comfortable residential option to individuals whose business and occupation are located within the business and commercial district. This high-rise condominium will evoke a New York-inspired lifestyle. 38 Park Avenue is meticulously designed to reflect the high-end and progressive culture of the west while accommodating the warmth of our very own tropical country. It has 38 residential floors and 3 levels of amenities at the 26th to the 28th floors. It houses a total of 745 residential units, with eight elevators, exclusive VIP units and even a grand atrium at the center of the tower.

Residents will also get to enjoy the amenities at the Sky Club, which include a swimming pool, showers, fitness gym, multi-function hall and lounge areas. They can both relax and have fun while enjoying a panoramic view of Cebu’s vibrant landscape.

Cebu Landmasters, Inc. is one of Cebu’s most innovative real estate developers since 2003. 38 Park Avenue is just another testament of what its innovation, dedication and excellence can offer.

House


BEST HOUSE OF THE YEAR 2018

WINNER: CASA MIRA SOUTH
BY Cebu Landmasters, Inc.

Cebu Landmasters, Inc., which was established by a trueblooded Cebuano entrepreneur, has been helping beautify the city for 15 years by developing a wide-range of projects. One of these projects is Casa Mira South.

Casa Mira South is located in Langtad, City of Naga & Pitalo, San Fernando, Cebu, just a 30-minute drive from South Road Properties, and it occupies a total land area of 32 hectares. Promising “there’s more for the family” it welcomes visitors with its grand entrance in the national highway that leads to huge amenities areas that showcase expansive views.

This project deserves a spot in this category for its featured amenities that maximize the huge land area. There are the main clubhouse with retail area, adult and kiddie pool with playground, multi-functional court, two secondary amenity areas with pavilion, a main road, and even a chapel. Casa Mira South is truly a place where residents can bond with each other and enjoy the exclusivity.

Both the interior design and exterior architectural style of Casa Mira South are modern, but still add a bit of classical concepts to keep the rich, nostalgic Filipino culture and history.

 

HIGHLY COMMENDED PROJECTS

SALAS REAL
by ACM Landholdings, Inc.

Calle Real, Iloilo was the last Spanish colonial capital in the early days as explained by the heritage homes and central hubs in the area. ACM Landholdings, Inc.’s Salas Real participates in the preservation of the vintage, classic feel by reflecting the Filipino Bahay na Bato in its model units: Angelina, Bernadita, Christina and Rosalia. The goal is to be a development that showcases the heritage of the old city while featuring all the modern conveniences.

Around 555 units are to be built in this intimate yet spacious 12.74-hectare community. Families are sure to enjoy the greenhouse, playground, multi-functional court, outdoor fitness area, clubhouse with reading room, amphitheater, and meditation garden, among the many amenities. To add, navigation to malls, offices, schools, and churches from Salas Real is easy through road networks designed in a grid-like manner.

As for the home design, Salas Real combines the “haciendalook” with a neutral earth color palette, louvers, fretworks, and modern ventanilla mouldings.

 

MODENA LILOAN
by King Properties, Inc.

King Properties, Inc.’s Modena Liloan is its fourth residential development in Cebu, with updated architectural designs and features. Strategically, the subdivision is located less than 4 kilometers away from malls, particularly SM Consolacion and Gaisano Liloan.

What makes Modena Liloan different from JKSI’s three Modena projects are its modern interior design and exterior zen structural design. Set to be completed by June 2020, Modena Liloan will offer a clubhouse, swimming pool, basketball court, children’s play area, and gazebo where residents can socialize.

The cast in place construction method is being used with locally purchased materials for the development of the property - assuring buyers of a strong house foundation, and fast repair or replacement if necessary. Given this, the price of Modena Liloan houses are indeed competitive in the market.

 

CAMELLA RIVERFRONT
by Camella Homes, Inc.

In line with its goal to help Filipinos level up their lifestyle, Camella Homes, Inc. brings Cebuanos the Camella Riverfront. Camella Homes, Inc. leverages on the property’s location in the middle of the mountains of Cebu. Residents may use amenities such as the children’s playground, clubhouse, swimming pool, and landscaped parks and gardens with the view of hills and valleys in the background - perfect for urban nature lovers longing to live with fresh air.

The interiors of homes in Camella Riverfront feature a mix of modern and contemporary. The units are spacious and the ceiling looks classy, with enough room for huge beds, dining sets, closets, and fancy furniture. Clearly, Camella knows how a dream house looks like for Filipino families wanting to settle in the already breathtaking Queen City of the South.

In terms of location, Camella Riverfront is strategically located near hospitals, schools, shopping centers, and churches. Residents have easy access to all these while enjoying a nice view of nature outside their spacious and elegant home. Camella Home, Inc. really took into consideration the modern concerns and lifestyle of families today with Riverfront.

 

LUMINA BACOLOD
by Prima Casa Land & Houses, Inc.

Lumina brings yet another ”home for every Juan” with Lumina Bacolod, which is set to reach completion in December 2023. Just like the rest of Lumina’s developments, it boasts of the following advantages: affordability, downpayment options, accessible location, proximity to landmarks, and free ceiling.

What sets Lumina Bacolod apart is its minutes-away proximity to schools, stadiums, supermarkets, and other landmarks or key facilities. A shuttle is also available in the compound for the residents’ convenience. All of these are available at prices a minimum wage earner can afford.

The exterior architectural style is modern, while the interior design style is also modern with a slight mix of contemporary. Outside the house, the community may socialize in the playground, covered basketball court, and organize events in the community hall.

Mixed-Use Development


BEST MIXED-USE DEVELOPMENT OF THE YEAR 2018 - VISAYAS AND MINDANAO

WINNER: ILOILO BUSINESS PARK
BY Megaworld Corporation

Vying to be the next business district in Iloilo, Megaworld’s Iloilo Business Park is developed to be a home to trendy commercial areas, buzzing BPOs and a tourist attraction in the coming years. A decade-long project, Megaworld has shelled out P35 million to fill the 72-hectare strip with a hodgepodge of entertaining and functional establishments.

The are currently five business towers that can be spotted within the township — One Global Center, Two Global Center, One Techno Place, Three Techno Place, and Richmonde Tower. Balancing business with leisure, Megaworld is prepping the area for 10 commercial establishments. Currently captivating crowds is The Festive Walk Promenade, and a 9.7-hectare lot that will solely be focused for a boutique hotel and commercial buildings.

From tourists to locals, the project opens doors to numerous luxury condominiums while simultaneously polishing its community with ready bike lanes and a fair strip of greenery. Building a cocoon of busy young professionals and curious out-oftowners, Iloilo Business Park is ready to highlight Iloilo as the next go-to stop in Western Visayas.

 

HIGHLY COMMENDED PROJECTS

DUSIT PRINCESS AT GRAND TOWER
by Grand Land, Inc.

A collaboration between Grand Land, Inc. and Dusit International, Dusit Princess at Grand Tower International alters Cebu’s urban landscape and city skyline with its picturesque modern architecture.

Rising as a 30-storey-high mixed-use establishment that marries residential luxury and retail convenience, the condo hotel envelops a total area of 3,540 sq. m. Dusit Princess at Grand Tower International dedicates two levels solely for commercial areas, nine levels for office spaces, and houses 19 function rooms. Its 295 hotel rooms have the privilege of being dressed up in furniture exclusively showcased and designed by internationally renowned furniture designers and artists Kenneth Cobonpue and Vito Selma. As an homage to Cebu, Dedon International furniture crafted in the city and countless Cebu-made pieces are scattered along the interiors.

For a captivating 360-degree view of Cebu’s midtown, the building is embraced by glass panels, maximizing natural lighting and drawing more attention to its pristine design and concept of industrial and modern furnishing and architecture.

Boasted as one of the tallest buildings in the heart of Cebu, Dusit Princess at Grand Tower puts luxury, comfort, and convenience under its belt.

 

BASE LINE CENTER
by Cebu Landmasters, Inc.

Banking on nostalgia and its spade in familiarity, Cebu LandMasters, Inc. has long brought lifestyle, and leisure to the city through the popular Base Line Complex. As an ode to the well-loved multi-use complex, Cebu LandMasters, Inc. has developed Base Line Center.

The 1-hectare space is a mixed-use property that is split into two phases, merging a handful of residential buildings, commercial spaces, and hotels together. Heavily concentrated on developing a residential haven, the project will be home to a total of nine towers, with four solely residential buildings.

To balance numerous towers, Base Line Center has set apart areas catering to leisurely activities with a swimming pool, jacuzzis, ready-to-use gym, landscaped gardens, and outdoor lounges. Giving importance to safety just as much as convenience, internal roads have been laid out, with a thorough system involving pedestrian lanes and two access roads.

Reviving the home of Cebuano families’ treasured memories, Base Line Center relives and revamps its center to encompass lush serenity and urban excitement in its biggest project yet.

 

MARINA TOWN
by Filinvest Land, Inc.

A vision of balance and harmony, Filinvest Land, Inc.’s Marina Town is its latest venture in upscaling Dumaguete City with a zone of lifestyle, entertainment, and leisurely living. Branching out to approximately 19,000 sq. m., the community has included a spot for premium commercial establishments, a trendy retail mall, a captivating hotel, and an aerial space of vibrant greenery and outdoor hubs.

Its residential tower, Marina Spatial, is currently in full operation, inviting growing families to settle in the city’s fresh and hip area. Aside from its developed components, Filinvest Land, Inc. has strategically built Marina Town in front of a stunning scenery of Dumaguete’s striking mountains and calming seas.

Contrasting the city’s natural beauty with accessible entertainment and transport spots, Marina Town also boasts of having convenient distance to the Ceres Liner Terminal, Sibulan Airport and seaport for quick access.

Building more than one reason to pay a visit, Marina Town puts Dumaguete City in the map of urbanized and chic lifestyle destinations.

 

MODENA TOWN SQUARE
by King Properties, Inc.

A new player in the realm of residential havens, King Properties, Inc.’s Modena Town Square is an up-and-coming subdivision in Cebu. The 20,719 sq. m. space has dedicated roughly 150 housing units, and has opened 17 units for retail businesses - including restaurants, salons, coffee shops, and convenience stores.

The crème de la crème is the area’s spacious homes. The community basks in vast street spaces and generous lots creating a fair space for families to enjoy outdoor leisurely activities. For alternative options, the stretched area houses a clubhouse, a swimming pool, a basketball court, gazebo, and play areas for the children.

Its walk-up condo, Citinnova, has also given the younger residential crowd a more convenient and affordable option for residential units. Meanwhile, the houses feature modern architectural designs that paint a breathtaking panorama of the neighborhood.

Composing a community of a harmonious neighborhood, convenient retail spaces, and enjoyable outdoor amenities, King Properties’ Marina Town Square is certainly a residential town that puts a premium on quality living.

Condo


BEST AFFORDABLE CONDO OF THE YEAR 2018

VALUE FOR MONEY

WINNER: SORRENTO OASIS
by Filinvest Land, Inc.

Filinvest Land, Inc., under its Aspire brand that features a portfolio of high-rise condos and horizontal communities, is inspired by some of the world’s iconic holiday destinations in championing resort style-living with its Oasis communities. These are mid-rise enclaves that soothe the urban warrior’s spirit with refreshing water features, lush greenery, and open spaces – all of which are considered luxuries in metropolitan areas.

At Sorrento Oasis, studio units start at 20 square meters, one-bedroom units at 30 square meters, and two bedroom units at 38 square meters. While the price range is accessible, Sorrento Oasis does not compromise the lifestyle it aims to provide its residents. Phase 1 amenities include a multi-purpose clubhouse with lounging areas, adult and kiddie pools, lap pool, play park, jogging and walking paths, cascading water features, bath house, and meditation pad. Phase 2 will have wading and kiddie pools, a fitness gym, play park, music and game rooms, function hall, bath house, green corridor, basketball court, and tennis court.

 

INVESTMENT OPPORTUNITY

WINNER: RIDGEWOOD TOWERS PREMIER
BY C5 Mansions Development Corporation

One of the main draws of C5 Mansion Development Corporation’s Ridgewood Towers Premier along C5 Road is that it is walking distance to Bonifacio Global City (BGC) and McKinley Hill, making it the perfect base for those who want to live, work and play in the area. After all, BGC is known for its exciting dining, shopping, and nightlife options such as Serendra, Fort Strip, SM Aura, and Uptown Bonifacio. Entrepreneurs and creatives also gravitate towards the area with the emergence of co-working spaces, which are perfect for freelancers and startups.

Alternatively, its prime location and accessibility via major thoroughfares makes it a good investment option for those in the market for property ready to be leased out. Ridgewood Towers Premier has one residential tower, with 21 units in each of its 28 storeys. One-bedroom units start at 24 square meters while two bedroom units start at 55 square meters. Commercial spaces are available on the ground and second levels while the amenities area on the third level has a lap pool, function room, gym, video room, and play area.

 

HIGHLY COMMENDED PROJECTS

AREZZO PLACE PASIG
by Phinma Property Holdings Corporation

The Italian-inspired Arezzo Place in Alfonso Sandoval, Pasig City, developed by Phinma Property Holdings Corporation, has 24 low-rise condominium buildings spread out in a sprawling 5-hectare community. There are 2,160 residential units with floor areas starting at 30 square meters – great for young urban professionals and couples planning to start a life together. Arezzo Place was designed with flexibility in mind as units can be combined to meet growing space requirements.

Arezzo Place is right at the heart of Pasig City and is just minutes away from business hubs such as Eastwood City, Ortigas Center, and Bonifacio Global City. However, one does not feel the hustle and bustle of the metro when coming home.

The gated community has 24-hour security, which helps maintain safety and privacy. Residents can unwind and enjoy amenities such as gazebos, swimming pools, jogging paths, a clubhouse, a playground, and a basketball court. Since each building is a low-density, five-storey walkup, Arezzo Place gives off an unhurried, laid-back ambiance.

Whether you’re looking for an affordable and accessible place to live or invest in, Arezzo Place ticks the right boxes.

 

SHANATA
by Suntrust Properties, Inc.

Powered by its mother company Megaworld Corporation, mid-range Suntrust Properties has made its way North with Shanata, a 12-cluster Modern Asian community along Quirino Highway in Novaliches. Shanata has 1,544 units, including 27-square-meter studios, 36-square-meter two-bedroom units, and 54-square-meter three-bedroom units.

Shanata residents need not go far to experience the comforts of the city; schools like University of the Philippines Diliman, Ateneo de Manila, Miriam College, and Kostka School are a few minutes away, as well retail destinations like SM North EDSA, Trinoma, and UP Town Center. On the other hand, one can just as easily commune with nature and spend weekends at La Mesa Eco Park and Quezon Memorial Circle. Shanata’s amenities, which include a 25-meter lap pool, kiddie pool, paved sun deck, kid’s play area, gazebo, and clubhouse, bring rest and recreation right at one’s doorstep.

 

THE SILK RESIDENCES
by Dataland, Inc.

The Silk Residences, along Ramon Magsaysay Boulevard in Sta. Mesa, Manila, is a two-tower 40-storey master-planned condominium development. With units ranging from 23 square meters to 72 square meters, The Silk Residences complements the quintessential urbanite’s lifestyle with health and wellness amenities like kiddie and adult pools, a jogging path, a children’s playground, a meditation garden, function room, indoor game room, gym, study hall, and sky lounge. The property also gets plus points for accessibility as it is just a few minutes away from LRT – V. Mapa Station, Polytechnic University of the Philippines, Unciano General Hospital and SM Sta. Mesa.

Each unit boasts of well thought out details and quality finishes, giving potential buyers their hard-earned money’s worth.



 

BEST PREMIUM CONDO OF THE YEAR 2018

AMENITIES

WINNER: KAI GARDEN RESIDENCES
by DMCI Homes

Springing up right in the middle of Metro Manila is Kai Garden Residences by DMCI Homes. It is set on a sprawling 17,082-squaremeter area on M. Vicente Street in Mandaluyong City. Set for completion in 2025, the development’s proposed open green spaces will surely be a welcome addition to the largely grey landscape of the metropolis.

Its central positioning and lush greenery is a prized combination in Metro Manila. Imagine being able to access its adjoining cities quicker than most locations while being able to come home to a natural looking environment.

Its potential residents will be spoiled with its amenities. Condominiums are expected to have a nice lobby, fitness gym and swimming pool. This offering by DMCI Homes, however, has these and more. It has a leisure, lap and kiddie pool. The reception lobby is complemented by a closed lounge area as well as an open lounge. Health buffs will have more choices beyond the complete fitness gym of Kai Garden Residences. It will have a basketball court and a jogging path cutting through the charming Japanese inspired gardens of the development.

 

TRUST & REPUTATION OF DEVELOPER

WINNER: AVIDA TOWERS ASTEN
by Avida Land Corporation

Avida Towers Asten is Avida Land’s third project in the Makati CBD. Located along Malugay Street, it is a few blocks away from the major thoroughfares of Ayala Avenue and Buendia Avenue. Osmeña Highway is even closer, which is about 200 meters from the development.

The development is built on an estimated 10,000 square meters. There are various unit types to select from, depending on the requirements of the buyer. Choices start from studio units going up to three bedroom bi-level units. The entire project will be comprised of three towers that will surround a resplendent pool area. Its pocket gardens and open seating areas will give its residents an opportunity to relax and socialize.

Convenience is certainly the main selling point of Avida Towers Asten. It will have commercial spaces on the ground floor facing Yakal and Malugay Streets to provide some basic goods and services to its captured market. There are sure to be some good restaurants that would stave off different cravings. This is a complete condo development that provides a lot of value for its price point.

 

HIGHLY COMMENDED PROJECTS

BOTANIKA NATURE RESIDENCES
by Filinvest Alabang, Inc.

Filinvest Alabang, Inc.’s Botanika Nature Residences is located on a 15,518-square-meter expanse along Laguna Heights Drive in Filinvest City, Alabang. It was designed through a collaboration of renowned architects Leandro V. Locsin Partners, AECOM and Architecture International.

The amenities are beautiful. Residents can relax amid flow gardens, a sunbathing deck and a veranda. There are tiered swimming pools composed of kiddie and lap pools. The play areas will be something that children will surely enjoy. They will find tree houses outdoors along with well-built playground sets. There is also an indoor children’s play area with a game room. Those looking to put in a little bit of work without having to ride the car to the office have the Business Center to rely on.

Adding to this initiative is its village charm. The project mimics the feel of living in a lush, open environment. It has the character of a high-end village lifestyle but with the advantages of a condominium setting. This is what differentiates it from most developments on its level. Botanika Nature Residences is luxurious without being overly ornate.

 

ANCHOR GRANDSUITES
by Anchor Land Holdings, Inc.

Rising above Binondo is Anchor Grandsuites by Anchor Land Holdings, Inc. It will be the tallest building not only in the oldest Chinatown in the world but in all of them combined. Conceptualized by Asya Design, this architectural marvel will rise a majestic 63 storeys high. Anchor Grandsuites is a welcome development within a highly dense district where space is highly prized. Unit sizes are a spacious 73 square meters to a grand 353 square meters.

The modern design of Anchor Grandsuites coupled with its elegant styling will be a welcome addition to the bustling Binondo area. The expansive Grand Lobby will greet its residents and guests with a hotel atmosphere. This will lead up to a seven-level podium that will evoke a contemporary statement in the district. Its luxurious clubhouse will be located on the penthouse level, where most of its amenities will be located. There will be an impressive 50-meter multiform infinity pool cutting across the building’s rooftop, as well as a garden deck.

 

MAVEN AT CAPITOL COMMONS
by Ortigas & Company

The Capitol Commons is poised to welcome a hip, fun and creative project into its midst. To rise to an impressive 62 storeys in 2021 is the Maven at Capitol by Ortigas & Company. Maven at Capitol’s trendy exterior was inspired by a lantern. It represents a bright future and highlights a progression towards the stylish set. The lantern motif is comprised of special three bedroom units on the projects’ top levels. It is completed by a vertical indentation running down the entire length of the building.

Various amenities will be found in this luxurious residential condominium. Residents will always find something to do among the multiple concept “Play Rooms” which will come with the development, each with a remarkable eight to twelve stories in height. Examples are the Craft Room, which provides an area to visualize and execute projects, and the Work Room, a space to perform office tasks, complete reports and send emails. Others include the Chat Room, Media Room, and Party Room.

Its emphasis on fun and inspiration will surely make this project a pleasure to live in. Ortigas & Company’s target young market will certainly have a lot to explore in this upcoming development near Ortigas Center.

 

THE ROCHESTER
by Empire East Land Holdings, Inc.

The Rochester by Empire East Land Holdings, Inc., a multiclustered community expanding along the banks of the Pasig River, will undoubtedly be a luxurious waterfront landmark once completed. The esteemed firm of Pimentel, Rodriguez, Simbulan & Partners is responsible for its architectural design. The Rochester’s strategic location is one of its key selling points. It is situated just off Elisco Road in Barangay San Joaquin, Pasig City. From here, residents may easily gain access to the main CBDs of Makati, BGC and Ortigas Center.

Its design is rooted in Asian-Modern architecture. The development takes into consideration the country’s warm, tropical climate with its large windows and muted color schemes. Residents will be able to enjoy resort style amenities. It will have jogging trails, a 25-meter lap pool, children’s playgrounds, a fitness center and a clubhouse. There will also be tennis and basketball courts. Its beautiful pocket gardens achieve a good balance by maximizing the use of available space. The Rochester’s thoughtful design immediately makes it obvious that it has masterfully harmonized form with function.

 

BEST LUXE CONDO OF THE YEAR 2018

 

CUSTOMER SERVICE

WINNER:GRAND HYATT MANILA RESIDENCES
by Federal Land, Inc.

Luxury at its finest, in a New York kind of way with a touch of Tokyo to boot. That seems to be what Federal Land, Inc. has been promising its soon to be tenants and guests when its iconic Grand Hyatt Manila Residences opens its doors by the end of 2018. Inspired by those clusters of opulent residential and hotel complexes in the Big Apple, the Grand Hyatt Manila Residences and its equally stunning 66-storey Grand Hyatt Manila Hotel will be the focal point of Federal Land, Inc.’s master-planned development project called Grand Central Park located at the northern terminus of Bonifacio Global City. Taking its cue from New York City’s famous block, Grand Central Park, according to the George Ty-owned property conglomerate, will comprise a cluster of 11 residential projects, premier dining options, and upscale retail spaces and boutiques at the Big Apple Mall.

Federal Land, Inc. has partnered with renowned Japanese real estate developer and mall operator, Nomura Real Estate and Isetan Mitsukoshi of Japan, to create a luxury township and mixed-use community project dotted with premium residential towers like the Grand Hyatt Manila Residences and a string of shopping complexes.

The Grand Hyatt Manila Residences is a masterpiece of renowned architectural giants Wong + Ouyang and Ove Arup & Partners, which have also worked on the Grand Hyatt Shanghai and Grand Hyatt Hong Kong, among other luxury projects.

 

LOCATION

WINNER: COPETON BAYSUITES
by Anchor Land Holdings, Inc.

Named after Copeton Mine in Australia, a world renowned quarry that produces the most prized diamonds in the world, Copeton Baysuites is a one-of-a-kind, ultra-luxurious residential property that comprises three 16-storey towers on Macapagal Boulevard and right beside the City of Dreams Manila.

Each tower is highlighted by opulent features that include curtained walls and double glazed glass window panels to match the extravagant lifestyle of Aseana’s gaming strip. It is strategically located near Asia’s next Las Vegas, an entertainment hub where world-renowned casinos are already in full swing.

According to Anchor Land Holdings, Inc., the developer of Copeton Baysuites, the luxurious residential enclave promises to live up to its extravagant name. The West Tower will have a 20-meter lap pool at the penthouse, offering a magnificent view of the Manila Bay. The North Tower and the South Tower, on the other hand, will have a 25-meter lap pool and a children’s pool on the third-level podium. Each tower will have a deck seating area, an outdoor residential lounge, and a viewing deck.

 

HIGHLY COMMENDED PROJECTS

THE SANDSTONE AT PORTICO
by Alveo Land Corporation

Under Ayala Land, Inc.’s Alveo Land Corporation, The Sandstone at Portico is located on the quiet side of the central business district of Ortigas in Pasig City. Residents can expect their residential enclave to have a certain intimacy with its neighborhood as the novel courtyard community in Ortigas introduces residents to a living experience that is easy, seamless, and interconnected. According to Alveo Land Corporation, Portico’s 3.6-hectare township and multi-use complex is ideal for young families and urban achievers who want the distinct city living experience engulfed in open spaces and urban courtyard design. In other words, breathing space is guaranteed as 65% of Portico is dedicated to green and open spaces.

Nestled in a quaint and charming environment with verdant courtyards, The Sandstone at Portico is an urban courtyard experience like no other, exclaimed Alveo Land Corporation as it promises to deliver an exclusive yet distinctive living experience where retail community areas and green spaces are carefully integrated to create a vibrant street life feel. Its lush greenways, cobblestone pavements, and charming open spaces integrate well into each other. With Portico, Alveo Land Corporation redefines the concept of what a charming yet modern urban development ought to be.

 

THE IMPERIUM AT CAPITOL COMMONS
by Ortigas & Company

Centrally located in a prime spot in Metro Manila, The Imperium at Capitol Commons is an upscale and luxury residential enclave spearheaded by Ortigas & Company. Designed to be one of the metro’s premier residential havens, The Imperium at Capital Commons only has four units to a floor, with high-end quality finishes and fixtures. This means residents can expect an unprecedented level of privacy and exclusivity in spacious living areas. The tower also has four elevators that will serve all the residential floors.

Its architectural design is simple yet elegant. The 62-storey property is made up of clean lines that emphasize its circular form from afar. Every detail has been carefully thought of, including the low-angled canted windows which provide breathtaking sceneries, according to Ortigas & Company.

The Imperium is located at Capital Commons, an upscale mixed-use community where 50% of the area is dedicated to open space. Its luxurious shopping landmark called Estancia features top international brands as well as delectable dining choices. The Imperium’s amenities include an infinity edge pool, a landscaped garden, a fitness facility, a recreation room, a daycare center, and a mini theater.

 

THE ALBANY
by Megaworld Corporation

Located along Chateau Road in McKinley West at the McKinley Hill area, The Albany Luxury Residences is a residential enclave that features a unique top-of-the-line home brand collaborations with unmatched views of Makati City’s Forbes Park village and the Bonifacio Global City skyline.

The ultra-high-end condominium, which offers exclusive direct elevator access from the lobby to your unit, is at the focal point of McKinley Hill, a prestigious cluster of business, residential, and retail establishments strategically located in one of Metro Manila’s prime spots.

Comprising of two separate blocks called The Kingsley and The York, every aspect of The Albany offers unparalleled value to its residents. Although different in name, character, and style, both were carefully designed to ensure harmony permeates into each other’s enclave. The Kingsley and The York each have 64 residential units that range from a 2-bedroom and 3-bedroom unit with double height spaces to a luxurious three-level state-of-the-art penthouses. According to Megaworld Corporation, the property’s developer, The Albany’s overall design approach is to create a residential haven that captures the essence of sophisticated city living and garden retreat.

House


BEST AFFORDABLE HOUSE OF THE YEAR 2018

WINNER: CLAREMONT
BY Filinvest Land, Inc.

Claremont is an exclusive subdivision from Filinvest Land, Inc. in the heart of Mabalacat, Pampanga, with a modern Asian theme that blends with a contemporary lifestyle that embraces nature. Situated only several minutes from the Clark Freeport and Special Economic Zone at a mere 8 kilometers away, Claremont’s Futura is an affordable housing project that gives its residents the peace and tranquility they deserve while still being accessible to everything they may need.

Affordable housing at Php 1.5 million to Php 2 million for a 120-square-meter property is not just attractive but practical. Claremont’s Futura is ideal and scenic, with an amazing view of Mt. Arayat and the various mountain ranges surrounding it. The property has many desirable amenities including a multi-purpose clubhouse, training room, and gazebos. The park and playground are great places to spend afternoons alone or with loved ones, while the basketball court and pools are perfect for the athletic types. Additionally, Futura’s feature of a relaxing bath house gives it a unique edge.

 

HIGHLY COMMENDED PROJECTS

TANZA PROPERTIES
by PHirst Park Homes

Tanza Properties, an affordable housing project by Century Properties Group Inc. subsidiary PHirst Park Homes, is one of the first ventures by Century in providing affordable yet comfortable home options.

The property is highly accessible, even for people working or studying in Metro Manila, as the estate can be reached through three main highways: Aguinaldo Highway, South Luzon Expressway (SLEX), and Cavite Expressway (CAVITEX). Additionally, the village provides shuttle rides for its residents – free rides within the village, and an affordable shuttle fare for those going to various transport hubs – making traveling to and from Tanza Properties a breeze.

Striving for both excellence and convenience, PHirst Park Homes’s Tanza Properties offers state-of-the-art amenities within the property. Residents can flex their sporting skills at the basketball court, and have leisurely walks at the Linear Park. Its Outdoor Cinema brings together nostalgia and modernism, and kids can enjoy their youth and interact with playmates at the Playpen. Not to be left behind in comparison to Century’s more high-end estates, Tanza Properties also has several pools, including a kiddie pool, for the enjoyment of the Philippines’ amazing tropical climate.

 

AMAIA SCAPES BULACAN
by Amaia Land Corporation

Amaia Scapes Bulacan is a 3.3-hectare property in Sta. Maria, Bulacan. Owned by Amaia Land Corporation, an Ayala Land, Inc. subsidiary, the estate adds to the charm of this highly urbanized, first-class municipality in the Metro Luzon Urban Beltway Super Region.

Sticking with Amaia Land Corporation’s quest in providing affordable housing, Amaia Scapes Bulacan is reasonably priced – homes can be bought for as low as Php800,000, house and lot already included. With 200 units in the property, future residents can select from a variety of houses ranging between 27 to 75 square meters, perfect for single, married, and family buyers.

At Amaia Scapes Bulacan, a basketball court and a swimming pool cater to people with active and athletic lifestyles, while the Village Pavilion boasts a versatile open space. Additionally, the Patio Greens (Amaia’s signature garden style) is a quaint little area that showcases a wonderful lot filled with pristinely manicured greeneries, suitable for leisurely walks and photo ops.

With so many features at an affordable price, this property is certainly one of the top choices for today’s home buyers.

 

CINTA DESSA
by Imperial Homes Corporation

Found in the heart of Silang, Cavite, Cinta Dessa by Imperial Homes Corporation is an exclusive and solar-powered community – the first of its kind in the province. Built with savings and affordability in mind, each home within the village benefits from a 24-hour solar power solution that helps with the ongoing problem of high electricity bills many people in the Philippines face.

Launched only in September of 2016, Cinta Dessa is one of the most affordable and sought after places in the south. A mere 10 minutes away from Sta. Rosa and only 20 minutes away from Tagaytay, this development is ideally located and makes it the perfect resting spot that brings the best of both city and provincial life together.

The village boasts of high-quality housing at affordable prices, all within a low-density community that is just a few minutes’ drive from Nuvali and several industrial parks, with easy access to public transportation going to both Metro Manila and Tagaytay. Truly, Cinta Dessa is the ideal spot for comfortable yet affordable living spaces that is just a stone’s throw away from anything and everything one may need.

 

VERONA
by Suntrust Properties, Inc.

Suntrust Verona by Suntrust Properties, Inc. is one of the most luxurious but affordable housing options available today. Located in Silang, Cavite, the house and lot development is ideally situated in the Silang and Sta. Rosa boundary.

The 62-hectare property boasts of scenic views of Mt. Makiling to the east and Tagaytay to the south, truly a breathtaking place to unwind after a hard day’s work.

Inspired by Juliet’s Wall, a famous giant wall with letters and padlocks in Verona Courtyard in Italy, Suntrust Verona is a project that is inspiring as it is relaxing. With a 2-hectare replica of the wall located by the project’s main entrance, residents are reminded every day of the love and romance that inspired Verona.

The picturesque, resort-like property exudes many other Italian inspired designs in its amenities. A swimming pool, basketball court, and a jogging and hiking trail are there for people to maximize active lifestyles, while an Italian-themed nature park with a quaint bridgeway is romantic and gorgeous. Features like its many lush gardens and a grandiose clock tower make the property Instagram-worthy.

 

BEST PREMIUM HOUSE OF THE YEAR 2018

WINNER: PORTOFINO ALABANG
BY Brittany Corporation

Brittany Corporation’s Portofino Alabang takes pride in being an Italian-inspired real estate masterpiece. With pocket gardens, cupolas, gabled roofs, and cobblestone pathways, the ambiance is nothing less than that of cosmopolitan Italy. It also displays gardens and walkways that are beautifully structured and landscaped. The amenities, meanwhile, lack nothing in offering convenience to their homeowners by having a Roman-inspired lap pool, basketball and tennis courts, a fully-equipped gym, a grand ballroom, and an interactive swimming pool for kids.

Portofino Alabang is situated in a prime location, with a 30-hectare commercial center within its vicinity, developed with a very distinctive theme in terms of its architectural and conceptual design. When choosing a home that calls for grand living spaces, Portofino Alabang can give exactly that, while at the same time allowing residents to enjoy the comforts of privately designed courtyard areas.

 

HIGHLY COMMENDED PROJECTS

CITTA ITALIA
by Crown Asia Properties, Inc.

Crown Asia Properties, Inc.’s Citta Italia is an Italian-inspired project in Bacoor, Cavite with features that include stunning landscapes, a refreshing and laid-back atmosphere, and serene surroundings.

Most of its home offerings come in color palettes resembling that of sun-drenched designs. The interior designs are also modern and urbanized, allowing homeowners to live both in comfort and in style. Though much of its captivating features are the Italian-themed exteriors, Citta Italia will not fall short in offering amenities for the homeowners’ convenience and ease of living. These are the scenic jogging trails, a basketball court, a tennis court, a swimming pool, and a clubhouse all offering the relaxation needed from the hustle and bustle of city life.

The entire property of Citta Italia covers a land area of about 80 hectares. Ease of access is one of its key features, being located near lifestyle centers such as Vista Mall Daang Hari, Evia Lifestyle Center, SM City Molino, SM City Bacoor, and Puregold Bacoor. One can get to Citta Italia via routes passing Aguinaldo Highway, Alabang-Zapote Road, Molino Boulevard, Moonwalk, and Daang Hari.

 

GEORGIA CLUB
by Brittany Corporation

Brittany Corporation’s Georgia Club, located in Sta. Rosa, Laguna, portrays dwellings that depict the luxurious old American lifestyle. One of its key features is seeing nature as up close as one can possibly could, with qualities similar to that of a nature reserve. Looking closely at the home selections in Georgia Club will take you back reminiscing the Southern American style from white picket fences, doors in bright colors, French windows, and wrap-around porches. The homeowner experience can indeed be classified as experiencing the sophisticated elegance of plantation homes and other stately mansions during America’s 1800s.

Georgia Club occupies a total land area of 150,000 sq. m. When it comes to amenities, Georgia Club is at par with the best of the best. It has the Peach Tree Clubhouse that has an al fresco area for dining and for barbecue parties. Also, the Daisy Park may be considered as the perfect outdoor playground for the kids. To date, Georgia Club is one of the most sought-after home offerings in the South.

Mixed-use Development


BEST MIXED-USE DEVELOPER OF THE YEAR 2018 - LUZON

 

Amenities and Location

WINNER: MCKINLEY HILL
BY Megaworld Corporation

The award-winning Megaworld Corporation has surpassed its own standards by creating McKinley Hill, the company’s largest township development project in Metro Manila.

The gorgeous estate resembles the majesty of the city of Venice. Megaworld perfectly mirrors the Venetian quintessential charm with McKinley Hill. The Venice Grand Canal Mall and the Venice Piazza highlight the Italian flavors this estate has to offer.

Unique and breathtaking, the Venice Grand Canal Mall is the newest commercial center in town. It is the country’s first lifestyle mall which intimately resembles Italy’s most excellent architectural designs. A man-made canal found within the mall where romantic gondola rides can be taken completes the entire Italian experience.

McKinley Hill brings forth the perfect community experience with its luxurious residential and office facilities. It currently has over 13 office buildings, 23 residential towers, and an upscale village covering more than 400 residential lots.

 

Investment Opportunity

WINNER: SM MALL OF ASIA COMPLEX
BY SM Prime Holdings, Inc.

A giant among the giants, SM Mall of Asia Complex continues to reign as the largest mall in the country. Owned by the country’s biggest mall owner and developer, SM Prime Holdings, Inc. is a 67-hectare landmark located on the west of Roxas Boulevard in the “Bay City” – more commonly known as Pasay City.

It has attracted many visitors, far and wide, with almost 800 food and retail outlets and stores, with an average daily foot traffic of around 200,000 people. With many people crowding along the various pathways of Mall of Asia, the business and economy, just within the complex itself, is growing and booming with potential.

However, new developments have arisen in the complex. The once lonesome infrastructure of the Mall of Asia is now surrounded by other buildings, such as the SM Concert Grounds, Esplanade, SM By The Bay Amusement Park, Mall of Asia Arena, Exploreum Science Center, SMX Convention Center, and The Food Village. It also currently has three standing residential buildings, known as Sea Residences, Shell Residences, and Shore Residences.

As a prime retail, residential, commercial, and entertainment complex, it is no wonder that the SM Mall of Asia Complex is one of the largest contributors to tourism development in Pasay City.

 

HIGHLY COMMENDED PROJECTS

CAPITOL COMMONS
by Ortigas & Company

Capitol Commons is a top-notch mixed-use development located along the corners of busy Meralco Avenue and Shaw Boulevard. Ten hectares of modern living spaces, office facilities, and commercial areas are allotted to showcase the premium and exclusive retail and entertainment selections that Capitol Commons has to offer.

Capitol Commons was built with a comprehensive master planning process produced by some of the best minds in the country. This project features stunning architecture, which blends strong and meaningful elements of Filipino culture. It is poised to set a new standard for modern urban development in the region and is the next address of choice in Pasig City. The development is currently composed of five completed components: Capitol Commons Park, Estancia Mall and Offices, Unimart, Capitol Commons Information Center, and Gastro - the dining strip inside the estate.

Capitol Commons provides a spectrum of experiences which beckons people from different backgrounds, who all share a passion for rich heritage and a varied urban lifestyle. The many aspects of Capitol Commons all make up a vibrant community and paved the way for the next generation of stories.

 

EVO CITY
by Ayala Land, Inc.

With Ayala Land, Inc.’s rich history and prominent reputation in the real estate industry, it should not be seen as a surprise that they have, yet again, created another magnificent project called Evo City.

With over 200 hectares of land, this estate aims to become a central business district and a commercial hub within the landscapes of Cavite. The estate’s location puts it at an advantage with its close proximity to CAVITEX, which can provide easier access to the booming Metro Manila.

Evo City’s design allows its residents and inhabitants to enjoy a life with good work and play balance. It features an array of options for retail, hotels, restaurants, and leisure and entertainment. About 19 hectares of the estate have been allotted for beautiful parks and wide open spaces to provide pedestrianfriendly living by connecting its areas to these green open spaces. Infrastructures such as hospitals, schools, and churches will also be built on the land.

The estate has a balanced mix of high- to mid-rise institutional and commercial developments, and low-rise residential options. Evo City also presents commercial lots available for investors and businessmen alike.

 

TIMBERLAND HEIGHTS
by Filinvest Land, Inc.

Filinvest Land, Inc.’s thrust of building the Filipino dream is made apparent in Timberland Heights. The estate is envisioned to create a lasting legacy of being a diverse community, providing comfort, convenience, and serenity to its residents.

Found within the foothills of the Sierra Madre Mountain Ridge, Timberland Heights is a suburban mountain townscape dubbed as the Metro’s last frontier. It is strategically located only 15 minutes away from Quezon City. Its placement of being 250 to 450 meters above sea level is what gives the estate picturesque and breathtaking views.

Timberland Heights not only aims to become a home to many, but to create an entire lifestyle within its borders. Over 380 hectares of development covers the areas for housing, recreation, leisure, entertainment - and even employment. Residents and tourists alike will enjoy the benefits of a highend standard of living and intermodal connectivity.

One of Timberland Heights’ key selling points is its wide indulgence of nature. The property boasts of having mountain trails and clear streams, which can make one feel entrenched in a place far removed from the hustle and bustle of the city.

BEST GREEN PROJECT OF THE YEAR 2018

WINNER: SOLANA VERDE
BY Imperial Homes Corporation

Solana Verde, located in Silang, Cavite, will rise as the first solar-powered condominium development in the Philippines, with developer Imperial Homes Corporation promising that residents will be able to enjoy big savings on electricity.

Every unit in Solana Verde will feature 24-hour solar power solutions, which will allow condominium owners to reduce their power consumption and costs.

One of the disadvantages of utilizing solar power is the hefty upfront cost of installing the system in homes or condominiums. However, because it is a built-in feature of Solana Verde, unit owners will not feel the impact of shelling out for a solar power system, and may instead go straight into enjoying its benefits. Solana Verde is not sacrificing all other aspects of modern day living to focus on its solar-powered initiatives. The property will be in a very accessible location near the Tagaytay – Sta. Rosa road, placing it just minutes away from Sta. Rosa and a 15-minute drive from Tagaytay.

Business development continues in both Sta. Rosa and Tagaytay, which will make Solana Verde one of the most preferred communities in the area due to its proximity to both of them.

 

HIGHLY COMMENDED PROJECTS

BOTANIKA NATURE RESIDENCES
by Filinvest Alabang, Inc.

Botanika Nature Residences may be at the heart of a bustling metropolis, but the 13-storey, low-density residential development offers a luxurious green living experience.

Located beside the exclusive Palms Country Club and across Palms Pointe Village in Filinvest City, Alabang, Botakina’s three towers feature an iconic leaf-shaped structure, with wide apart spaces in between and a towering atrium at the core, highlighted by running water and a scenic elevator. The terraced layout of the towers, however, assures the privacy and exclusivity of residents, supported by the limited number of units – only a total of 101 garden units and penthouse units combined for Tower 1.

Natural light and ventilation nurtures the lush, central space of Botanika, allowing for the reduction of energy and water consumption, which is a feature that is missing from other upscale developments. Meanwhile, the green open space is preserved through the placement of parking facilities underground. The parking floors support the gardens and lawn areas above them, which essentially serve as a large green roof over Botanika’s basements.

 

PRIMAVERA CITY
by Italpinas Development Corporation

Primavera City stands out with its distinctive Italian design and world-class construction standards, but the high-rise building, with studio, one bedroom, and two bedroom units, offers more than just aesthetics.

Primavera City will utilize principles of passive cooling technology: shadow and sunlight control, wind cooling, and shape performance. It will also harness renewable energy through the installation of semi-transparent photo-voltaic panels, and incorporate water recycling for more cost-effective building maintenance and landscape irrigation.

Italpinas Development Corporation planned Primavera City with the help of parametric architecture software, which integrates parameters such as weather conditions to define the best possible combination of design elements in various degrees. With the main objective of reducing Primavera City’s overall environmental impact during construction and for the projects’ entire life, the final design of the high-rise building is the best possible solution, incorporating the reduction of reliance on power consumption, the optimization of water use, and other active and passive green features.

The combination of all of Primavera City’s sustainable development initiatives will offset carbon dioxide emissions equivalent to the effect of planting about 20,000 trees.

 

AMONSAGANA RETIREMENT VILLAGE
by Syntech Properties, Inc.

The Amonsagana Retirement Village by Syntech Properties, Inc. is a 32-hectare property in Balamban, Cebu that follows a masterplan describing a multi-use residential community rooted in leisure organic gardening and farming activities.

Each home in Amonsagana is built as a villa on its own exclusive lot. The construction of the villas take advantage of the panoramic views, with optimum orientation for natural sunlight and ventilation.

The design of Amonsagana manages the conservation of the environment, while enhancing the buildings and their architecture to contribute to the lifestyle of its residents. The retirement village serves as a model for ecologically connected living, where the people and structures are constantly in conversation with natural elements.

Common areas, which includes parks, pocket gardens, tree reserves, and water catchment areas, take up over 40% of the total area of Amonsagana, in line with the project’s objective of conserving the natural environment. The houses also incorporate green features such as elevation and orientation to wind direction, natural waste water treatment, and solar panels. In Amonsagana, the residents will be proud contributors to environmental protection, and will find purpose in leaving their legacy to future generations.

 

CEBU EXCHANGE
by Arthaland Corporation

Cebu Exchange, a 39-storey office building that will rise in Lahug, Cebu City, is a self-sustaining business ecosystem, according to developer and ArthaLand Corporation subsidiary Cebu Lavana Land.

Cebu Exchange is slated to be the largest single-tower green building in the Philippines, and will offer several sustainable features, including low-emitting glass windows that allow natural light in with minimal heat penetration. This will result in lower power consumption due to the optimized use of lighting and air conditioning systems.

Cebu Exchange will use low-emitting construction materials, which will have minimal to zero toxic volatile organic compounds that may damage the respiratory system to promote a healthier working environment. The office building will also be supplying outdoor air to interior office spaces to prevent sick building syndrome, which is a condition of unhealthy office workers due to factors such as poor ventilation.

Located in the gateway of the Cebu IT Park area, Cebu Exchange is within an urban community that is near key establishments such as banks, hospitals, restaurants, hotels, and shopping malls. The building will have four retail floors with total area of 3,900 square meters and 30 office floors with total area of 83,100 square meters.

 

BEST INNOVATION PROJECT OF THE YEAR 2018

WINNER: MIRAMONTI GREEN RESIDENCES
BY Italpinas Development Corporation

Italpinas Development Corporation, with the vision of a “green future” for the Philippines, brings its commitment of producing sustainable and eco-friendly property to South Luzon. Miramonti Green Residences is another world-class construction estate found at Batangas, an emerging municipality with a strong economic growth potential found in the Southern part outside of Manila.

Expect another fusion of the Italian and Filipino architectural design in this advanced green complex by the award-winning property developer. This new high-rise property in Brgy. San Rafael, Sto. Tomas, Batangas will be using renewable and sustainable energy. The community building is strategically placed to maximize the natural light and provide good shading. Its roof has installed PV panels to produce energy and help reduce the whole community’s electricity expenses. The site also promises a daily view of the beautiful ASEAN Heritage Park, Mt. Makiling.

Miramonti Green Residences is a mixed-use condominium, a first of its kind in Batangas, offering a community that will provide a 13,000-square-meter commercial space, residential spaces, parking lot, and offices to the people of the south. Residents can also enjoy the serenity and peace of living away from the city, but still with the convenience of in-house shopping and dining.

 

HIGHLY COMMENDED PROJECTS

ARCA SOUTH
by Ayala Land, Inc.

Ayala Land, Inc. continuously brings sustainable and quality estate to all areas of the country - this time, opening the “gateway to the south” through ARCA South. This so-called “next Bonifacio Global City (BGC)” is another mixed-use development of Ayala Land, Inc. that will offer commercial and retail spaces, office spaces, a hotel, a hospital, and a residential space in one.

This 74-hectare project is an up-and-coming central business district with low- to mid-rise buildings. It is a pedestrian-friendly community that will implement an integrated basement parking system. It will also have a lifestyle complex with a leasing space for 72,000 units.

ARCA South dedicates 40% of its total land area to a space of recreation and gathering. Also found within is the ARCA South Corporate Center – a six-storey development that will house key companies with a 24/7 service. ARCA South will also have its own Seda Hotel that will be offering 265 rooms, and a 250-bed QualiMed Quartermary Hospital.

Convenience and accessibility is the number one key advantage of ARCA South. The entire complex will also house the transport terminal called the South Integrated Transport System, a central station project by the government that will provide transportation to provinces in the South.

 

VIA VERDE
by Imperial Homes Corporation

Imperial Homes Corporation brings to Batangas its first solar-powered subdivision. Via Verde is just one of the many solar-powered communities of Imperial Homes. It is a 3-hectare community that supports green and sustainable living by providing solar panels to every roof of every house.

This project earned Imperial Homes Corporation an Excellence in Design for Greater Efficiencies Certificate (EDGE) from the International Finance Corporation and is the first property in the country to be recognized for meeting the global standard. With this free solar panel innovation, the residents will enjoy the perks of a sustainable and eco-friendly lifestyle including huge savings when it comes to electric charges and the environmental contribution of lowering the carbon footprint. Staying true to its literal meaning “Green Lane”, Via Verde is a low-cost and affordable subdivision found in a scenic location where ASEAN Heritage Park, Mt. Makiling, is a daily view.

It is located in one of Batangas’ fastest rising first class communities, Brgy. San Vincente, Sto. Tomas – a quick drive to and from Makati, BGC, the Ninoy International Airport, and Batangas International Port.

 

RICHWOOD TOWNHOMES
by ACM Landholdings, Inc.

Richwood Townhomes is a premier townhouse project by ACM Landholdings, Inc. especially built for starting families and busy professionals looking for affordable house options. Staying true to its mission of providing affordable, quality, and sustainable homes for the Filipino people, ACM Landholdings, Inc. realizes this 8.18-hectare project consisting of more than 770 house and lot units, as well as 14 commercial units.

Richwood Townhomes is situated in a serene and peaceful area within Brgy. Navarro, Gen. Trias, Cavite. The site is easily accessible to and from Manila via the Cavitex Coastal Road.

Inspired by the concept of Singaporean’s homes letting the outside in, each unit in Richwood Townhomes is built with oversized windows to allow natural light and fresh air to come inside. By the windows are wood-like louvers to knock back the rain. High ceilings were part of the design to let fresh air continuously flow from the living room to the kitchen. There are also water efficient fixtures installed in every homes’ kitchens and bathrooms, controlling the release of water in every usage and helping minimize the water consumption. All light fixtures are ensured to be energy-efficient. The townhouses are also designed to provide enough space and privacy that a home should have for its residents.

 

HOTEL 101
by Double Dragon Properties Corporation

Hotel 101 with 1,001 rooms is soon to be the biggest “green” hotel in the Philippines in terms of room count. This hotel in Boracay is a project by Double Dragon Properties Corporation and is the fourth development of the brand ‘Hotel 101’ aiming to manage a total of 5,000 hotel rooms by 2020.

Hotel 101 will adopt eco-friendly and sustainable practices from its design to the actual hotel process application. Specific areas in the hotel will be solar powered, including the surrounding outdoor street lamps. A rainwater harvesting system and a floodfree drainage system was also incorporated into the hotel’s environment to help conserve water use. Hotel 101 will adopt the reduce and reuse format to save energy, waste, and water. Traveling around the huge estate is not a problem as well since it is made possible by electric jeepneys exclusively for the hotel use. Some of the highlights of the estate include the residential condominiums, commercial areas, the hotel, and its own golf course, all in this 150-hectare project. This project is expected to be finished by the fourth quarter of 2020.

 

PERSONALITY OF THE YEAR 2018

WINNER: Mr. Jeffrey C. Lim
Executive Director and President, SM Prime Holdings, Inc.

The Outlook 2018’s Personality of the Year is Mr. Jeffrey C. Lim, the President and Executive Director of SM Prime Holdings, Inc. Mr. Lim heads one of the country’s biggest real estate company when it comes to market value. He was highly instrumental in its growth as one of its most trusted officers. SM Prime Holdings will continue to expand in the coming years as they seek to tap into the real estate market in the provinces.

BEST BOUTIQUE DEVELOPER OF THE YEAR 2018 - VISAYAS AND MINDANAO

WINNER: KING PROPERTIES, INC.

With a vision to continuously improve the quality of life of the people of Cebu, King Properties, Inc. has always set its sights on the right goals when it comes to real estate and property development. Under the management of the King family, income from profitable business ventures led by founder Juanito King eventually turned into accumulated, investment-worthy property holdings that stand up to this day.

Established in 1979 as Juanito King & Sons, Inc. and launched in 2011 as King Properties, Inc., this homegrown real estate developer continues to create quality and sustainable communities that enrich people’s lives all while preserving the gift of nature. Its flagship project is Modena, the company’s housing project in various areas. This includes Modena Mactan, a 3.2-hectare housing development in Basak, Lapu-Lapu City. Together with this are several housing projects distributed in various areas of Cebu that aim to provide shelter and instill communities.

Avenir stands as King Properties, Inc., latest project – the first high-rise development located at the center of Cebu. With units already sold out and with nothing but positive feedback, Meridian by Avenir aims to address the demand for businessoriented living spaces.

 

HIGHLY COMMENDED DEVELOPERS

ARTHALAND CORPORATION

Known for its highly curated boutique execution, ArthaLand Corporation is no stranger to the world of real estate development. Its flagship condominium project is none other than the impeccable Arya Residences in Bonifacio Global City, which has created a standard for world-class, sustainable quality that earns it the right as a Grade A building.

ArthaLand Corporation penetrates the Visayas and Mindanao market with Cebu Exchange, the first project for its Cebu Lavana Land unit. Set to rise in a prime property along Salinas Drive, this Php 8 billion office development is set to be the largest and tallest IT and Business Management (IT-BPM) business ecosystem at the Cebu IT Park area. The development is specifically designed to cater to the growing IT-BPM industry, together with local medium-sized enterprises’ demand for space.

ArthaLand Corporation is known to develop and manage superior properties that adhere to both international and local standards for premium green buildings, and that does not change with Cebu Lavana Land. Cebu Exchange is Visayas and Mindanao’s first and only office development to achieve dual green building certification under the United States Green Building Council’s Leadership in Energy and Environmental Design (LEED) program and the Philippine Green Building Council’s Building for Ecologically Responsive Design Excellence (BERDE) certification programs.

 

SYNTECH PROPERTIES, INC.

Syntech Properties, Inc. prides itself as a boutique developer with a difference, with its brand tagline of “Innovating Lifestyles, Redefining Communities.” As a Philippine-incorporated company that is part of the Singapore-based Woh Hup Group, Syntech Properties, Inc. sits side-by-side world-renowned building and civil engineering contractors. The company stands as the pioneer developer that introduced the concept of developing resortstyle condominium projects in Cebu. However, it does not stop there. What sets Syntech Properties, Inc. apart from its competitors is its selectivity with the projects it chooses to develop. Rather than mass producing developments, it hinges more on uniqueness rather than simply churning out buildings for the sake of doing so.

Its premiere project in the country is the Amonsagana Retirement Village in Balamban, located in Western Cebu. It is set in stone as an integrated lifestyle retirement village covering 32 hectares, offering complete amenities and services for its residents. The company’s goal is to create an inspiring and innovative lifestyle concept, all while supporting environmental sustainability by instilling communal and nature-friendly practices.

 

SAEKYUNG REALTY AND DEVELOPMENT CORPORATION

What started out as a company vision to provide a home to low-income families around the world evolved into a longterm goal geared towards the Filipino market to deliver the true meaning of “Good Living.” Founded in 1981 in South Korea, Saekyung Realty and Development Corporation boasts of experts in the field, combining traditional knowledge with modern engineering to create only the best developments in the country. Saekyung Realty and Development Corporation assures to develop the most sustainable, affordable housing without sacrificing the quality of its services.

Often, condominiums located in Cebu come with lofty prices. However, thanks to Saekyung Realty and Development Corporation, residential living is within reach thanks to affordable condominiums situated right at the heart of Mactan Island. Its primary projects include Saekyung Realty Village in Looc and Saekyung Village One Condominium in Marigondon, both located in Lapu-Lapu City. Saekyung Village is a residential condominium composed of 360 units and stands as the most affordable condo in Marigondon. Residents can experience the fresh, natural breeze of the province, lush environment, and an impeccable view of the sea.

 

CONTEMPO PROPERTY HOLDINGS, INC.

Contempo Property Holdings, Inc. started as a small dream that blossomed into a long-time goal to provide affordable residential projects with a difference. The company aims to shape communities of affordable homes within safe and secure environments in different parts of Visayas and Mindanao like Cebu, Cagayan De Oro, and Davao.

Its flagship project is Bamboo Bay, a modern green community with three towers that boast of a lush landscape married with earth-friendly spaces surrounding it. Situated in Cebu City and Mandaue City, Tower One and Tower Two of Bamboo Bay stands as examples for a lifestyle that is nature-friendly and sustainable. Contempo Property Holdings, Inc. hopes to create communities of good neighbors anchored on a place of pride, mutual respect, and goodwill. Tower Three is currently on its way to be inaugurated, as the company is expecting to continue its mission of creating homes and harnessing communities.

For years, Conte mpo Property Holdings, Inc. seeks to deliver the aspirations of mid-income families to have easy purchase options to acquire an ideal home in an accessible location. Contempo Property Holdings, Inc. offers top-of-the-line security and facilities for leisure, recreational, wellness, and social interaction among neighbors.

 

BEST BOUTIQUE DEVELOPER OF THE YEAR 2018 - LUZON

WINNER: PRIMEHOMES REAL ESTATE DEVELOPMENT, INC.

With sustainability changing the realm of real estate, Primehomes Real Estate Development, Inc. is making headway with its dedication to green architecture combined with innovative design. At present this developer has several ongoing projects such as The Green Line City in Taguig, as well as Larossa in Capitol Hills. The latter is Primehomes Real Estate Development, Inc.’s flagship project.

Larossa in Capitol Hills is envisioned as a sanctuary in the middle of city, where man and nature can collaborate with ease. It is designed as a mid-rise urban botanical garden row combining parks and green spaces with urban amenities. Buildings employ eco-friendly architecture and design techniques, thus furthering the coexistence of residents with nature. At present, Larossa in Capitol Hills’ first tower, Camia, is ready for occupancy. Two more towers, Sampaguita and Magnolia, are nearing completion and will soon be ready for turnover.

Larossa in Capitol Hills is in one of Quezon City’s best neighborhoods, close to major thoroughfares such as Katipunan and Commonwealth Avenue. Its convenient location makes this project one of the premium addresses of Quezon City.

 

HIGHLY COMMENDED DEVELOPERS

IMPERIAL HOMES CORPORATION

Imperial Homes Corporation rises to the challenge of creating eco-friendly communities with its solar-powered residential developments located in various points across Luzon. Although solar power is thought by many to be costly and difficult, Imperial Homes Corporation’s residences provide affordable and convenient solar-powered solutions for everyday living. This developer employs Connovate solar panels that are both sturdy and energy efficient, allowing for residents to significantly reduce their electrical bills and their carbon footprint. The panels come with guaranteed 100-year lifespans, ensuring that homeowners will definitely have a return of investment on this innovation.

The most renowned of Imperial Homes Corporation’s residential projects is Via Verde, which is the Philippines’ first solar-powered mass housing community. This village has garnered the Excellence in Design for Greater Efficiencies Certificate (EDGE) awarded by the IFC/World Bank for developments that meet global standards for green building and architecture. Located in Sto. Tomas, a first-class municipality of the province of Batangas, this community is ideal for those working in the up and coming industries in the area.

Another up and coming development from Imperial Homes Corporation is Solana Verde, which will soon become the Philippines’ first solar-powered condominium complex.

 

ITALPINAS DEVELOPMENT CORPORATION

A hallmark of Italpinas Development Corporation’s projects is the combination of innovative green architecture techniques with the elegance of Italian design. These are evident in Italpinas Development Corporation’s concepts for its ongoing projects, including its completed development, the Primavera Residences, located in the Pueblo de Oro Business Park of Cagayan de Oro City. Its strategic location provides residents a spectacular view of downtown Cagayan de Oro and the nearby Macjalar Bay.

Italpinas Development Corporation’s most prominent project in Luzon is Coral City, a new housing project located in Quezon City. Just like Primavera Residences, Coral City is designed as a mixed-use development, combining socialized housing units with commercial establishments such as restaurants and cafes. This 30,000-square-meter complex is comprised of several buildings all employing green design techniques to allow for reduction in electricity and water consumption, as well as adaptability in a variety of conditions.

Coral City’s innovative design features include floodproof shelters and environmentally friendly designed parking spaces. Coral City’s adaptable and durable design is Italpinas Development Corporation’s winning entry in the Design Against the Elements international architectural competition, garnering the Special Energy Award accolade.

 

LANDCO PACIFIC CORPORATION

It takes an expert innovator to combine the amenities and splendor of upscale residential living with the tranquility and comfort of resort getaways. Landco Pacific Corporation does this most skillfully in its various estates and villages located throughout the country.

Many of Landco Pacific Corporation’s new and planned projects are prime seafront properties such as the recently completed Crusoe Cabins in Calatagan, Batangas, which boasts of a waterpark and a boardwalk. Another waterfront property is the Terrazas de Punta Fuego in Nasugbu, Batangas, a premier seaside club with spectacular views of the mountains and the coast of Batangas.

Landco Pacific Corporation’s premium leisure tourism development is the Playa Laiya village in San Juan, Batangas. This 128-hectare exclusive seaside community has an extensive beachfront and beach park that provide residents a way to enjoy nature right at their doorsteps, or to swim, stroll and relax with family and friends. For residents who want to do more than enjoy the sand and the surf, Playa Laiya has other amenities such as a clubhouse, a restaurant, playgrounds, and fitness facilities. Playa Laiya also has meeting rooms and a grand ballroom.

 

ACM LANDHOLDINGS, INC.

In the realm of design, “classic” does not necessarily mean boring or outdated for the 21 st century. With ACM Landholdings, Inc., timeless architecture becomes accessible to families starting out and looking for their first homes. This developer combines well-loved designs with modern aesthetics to create cozy and comfortable houses in exclusive communities.

One of ACM Landholdings, Inc.’s most exciting projects is Salas Real, located in Jaro, Iloilo. This ongoing project combines details and features from the Spanish influenced “bahay na bato” houses with sleek and clean lines to create stylish homes against a green community backdrop.

ACM Landholdings, Inc.’s premium project in Luzon is the Pacific Terraces Community North, located in Imus, Cavite. This community is inspired by the classic designs and lines of the 1950’s, giving the place a homey yet elegant feel.

ACM Landholdings, Inc. has other projects slated for the coming months, such as the second phase of the Pacific Terraces Community, as well as the Silang Township also located in Cavite.

 

BEST DEVELOPER OF THE YEAR 2018 - VISAYAS AND MINDANAO

WINNER: MEGAWORLD CORPORATION

Megaworld Corporation was founded and incorporated in 1989. The company aimed to engage in high-end real estate development, leasing, and marketing. Megaworld Corporation eventually gained a reputation for its top-of-theline residential condominiums, and commercial properties which are conveniently located in the business districts of Metro Manila.

With the growing demand of quality and affordable residences situated near offices, Megaworld Corporation then shifted its focus on mixed-use commodities which caters to the needs of the low and middle-income market in 1994 through Empire East Land Holdings, Inc. and Empire East Properties, Inc. Housing options included townhouses, duplex, residential lots, medium to high-rise condominiums, and even fully-serviced residential suites.

Megaworld Corporation’s goal is to surround residents with everything that they may need on their daily routine. Thus, Eastwood City was launched. This was its first community township which was launched in 1997. In 1999, Eastwood City Cyberpark became the first IT park in the country to be chosen as a PEZA special economic zone. It was also the first hub for BPO offices. In fact, in 2003, 10 out of 37 call centers were in Eastwood City.

Eastwood City was the first of Megaworld Corporation’s many large-scale residential and office developments. The developer has maintained and continued to expand their presence in Metro Manila, but it has since expanded beyond, with projects in Bacolod City, Iloilo City, Tagaytay City, Cebu, and Boracay.

Some of Megaworld Corporation’s newest projects to look forward to are Alabang West in Las Pinas, Arcovia City in Pasig, Capital Town in Pampanga, Davao Park District in Davao City, Eastland Heights in Antipolo City, Southwoods City in Laguna, and Iloilo Business Park in Iloilo City.

 

HIGHLY COMMENDED DEVELOPERS

INNOLAND DEVELOPMENT CORPORATION

Innoland Development Corporation is a real estate development company based in Cebu. It started in 2005 and has since developed commercial, industrial and residential properties in Cebu and beyond. Innoland Development Corporation’s vision is to provide the best value products and services which will improve its customer’s quality of life.

The flagship project of Innoland Development Corporation is Calyx Centre, a 26-storey mixed-use residential condominium that was completed in 2012. It is the first green and organically designed condominium in Cebu, covering an area of 2,953 square meters in the Asiatown IT Park. Strategically located beside the IT Park’s entertainment and restaurant hub, the targets are professionals looking for a work-life balance environment.

Innoland Development Corporation is also known for its office buildings with modern and iconic designs, easy accessibility, and that uphold a sustainable and green environment. Located in Cebu and Metro Manila, these offices include Altaire, Montage, Capella, Polaris, Aeon Center, Link and the famous TGU Tower.

The company’s first industrial property is Ohmori, a manufacturing and office building for Teradyne, the leading supplier of automation equipment for testing and industrial applications.

Innoland Development Corporation prides itself in providing nothing but the best. It makes sure to maintain world-class standards and the best environment for customers, without forgetting to honor the ecosystem, and instilling nature as part of their residents’ way of living.

 

CEBU LANDMASTERS, INC.

Cebu Landmasters, Inc., as the company name suggests, started out in 2003 at the Queen City of the South, Cebu City. Founded by a true-blooded Cebuano entrepreneur, the company’s goal is to help customers find their dream home. Cebu Landmasters, Inc. caters to the mid- to high-end market through economic and socialized housing segments. The company prides itself in its passion to provide affordable but quality real estate projects, which values the customers and its community.

Cebu Landmasters, Inc. first specialized in developing affordable but quality houses for Cebuano families. Its first project was the San Josemaria Village in Balamban in 2003, targeting local workers within that area. Four years after, the second San Josemaria Village was launched in Minglanilla, which offers the same mid-cost but quality homes. The third San Josemaria Village was launched in 2009, targeting OFW families. A year after that, the fourth San Josemaria Village was launched at Talisay City.

Also in 2010, Cebu Landmasters, Inc. developed its first vertical project — Asia Premier Residences, which is located at the then-booming Cebu IT Park. It was followed by several condominiums, including Base Line Residences in 2011, Midori Residences in 2012, Mivesa Garden Residences in 2013; and communities, including Midori Plains in 2011, Velmiro Heights in 2013, Villa Casita in 2014, and The Casa Mira in 2015.

 

GRAND LAND, INC.

Grand Land, Inc. is the real estate property arm of the Gaisano Group of Companies. Gaisano Grand Malls is known for its chain of shopping malls located in Visayas and Mindanao. The real estate company was established in 2012 and initially focused on the development of several housing options, including condominiums, single detached houses, townhouses, and unique residential communities within Visayas and Mindanao.

In a span of only three years, Grand Land, Inc. was able to successfully launch five projects by 2015, with a total of 4,300 houses and condominiums upon completion. This includes Grand Residences in Cebu City, City Homes Mactan in Mandaue, Amani Grand Mactan in Lapu Lapu City, and Minglanilla.

In that same year, Grand Land, Inc. also announced plans to venture into hotel and resort developments in Cebu, in response to the growing demand for quality accommodations for local and foreign tourists. The company started with Grand Tower, a 30-storey mixed-use project that is right across SM City Cebu’s North Wing in the North Reclamation Area.

Grand Land, Inc.’s goal is to help change the people’s view of residential communities. It continues to offer families more than just a living space, but a lifestyle which nurtures and provides lasting memories right within their homes.

 

BEST DEVELOPER OF THE YEAR 2018 - LUZON

WINNER: AYALA LAND, INC.

Ayala Land, Inc.’s primary thrust is to reshape landscapes and enrich the lives of people with its development of “large scale, integrated, mixed-use, sustainable estates.” Many years have passed since its creation of the Makati Central Business District, but Ayala Land continues to bring into reality its vision of thriving communities with a focus on sustainability in different parts of the country.

Most notable in its current slate of estates in development is Bonifacio Global City (BGC), which now shares the reputation of being the country’s most dynamic central business district with Makati.

Another project with a mission to revitalize the city is Vertis North. The area is a strategic gateway to and from the North, presenting a myriad of opportunities for business and lifestyle upgrades.

Finally, Nuvali in Sta. Rosa, Laguna taps into nature, making use of 2,290 hectares of land to provide harmony, diversity, and sustainability with its mixed-use developments spanning residential, commercial, institutional, natural, recreational, educational, and hospitality projects. Nuvali has also proven to be the perfect location to set up solar power, further promoting the sustainable lifestyle.

 

HIGHLY COMMENDED DEVELOPERS

DOUBLE DRAGON PROPERTIES CORPORATION

Double Dragon Properties Corporation is the newest player on this list, having been founded in 2009 by Edgar “Injap” Sia III of Mang Inasal fame and co-chaired with Tony Tancaktiong of Jollibee.

The company’s goal is “to accumulate 1 million square meters of leasable space by 2020,” 70% of which is projected to come from its community mall venture.

Double Dragon Properties Corporation's CityMall subsidiary (in partnership with SM Investments) plays a large role in this vision with the aggressive rollout of 100 community malls in certain provinces in the country. CityMall is poised to become the largest independently branded community mall chain in the Philippines.

The DD Meridian Park in the Bay Area is the company’s flagship project in the metro, while another office development is the Jollibee Tower in the Ortigas Business District.

When it comes to residences, Double Dragon Properties Corporation is going the condominium and house and lot route. Its first project in Metro Manila is W. H. Taft, strategically located in one of the city’s educational districts. An interesting development is The Sky Suites in the corner of Quezon Avenue and EDSA in Quezon City, with its two juxtaposed sculptural forms. The circular tower is meant for residences, while the curvilinear structure contains commercial office spaces.

 

MEGAWORLD CORPORATION

Megaworld Corporation was founded and incorporated in 1989. The company aimed to engage in high-end real estate development, leasing, and marketing. Megaworld eventually gained a reputation for its top-of-the-line residential condominiums, and commercial properties which are conveniently located in the business districts of Metro Manila.

With the growing demand of quality and affordable residences situated near offices, Megaworld Corporation then shifted its focus on mixed-use commodities which caters to the needs of the low and middle-income market in 1994 through Empire East Land Holdings, Inc. and Empire East Properties, Inc. Housing options included townhouses, duplex, residential lots, medium to high-rise condominiums, and even fully-serviced residential suites.

Megaworld Corporation’s goal is to surround residents with everything that they may need on their daily routine. Thus, Eastwood City was launched. This was its first community township which was launched in 1997. In 1999, Eastwood City Cyberpark became the first IT park in the country to be chosen as a PEZA special economic zone. It was also the first hub for BPO offices. In fact, in 2003, 10 out of 37 call centers were in Eastwood City.

Eastwood City was the first of Megaworld Corporation’s many large-scale residential and office developments. The developer has maintained and continued to expand their presence in Metro Manila, but it has since expanded beyond, with projects in Bacolod City, Iloilo City, Tagaytay City, Cebu, and Boracay.

Some of Megaworld Corporation’s newest projects to look forward to are Alabang West in Las Pinas, Arcovia City in Pasig, Capital Town in Pampanga, Davao Park District in Davao City, Eastland Heights in Antipolo City, Southwoods City in Laguna, and Iloilo Business Park in Iloilo City.

 

DMCI HOMES

DMCI Homes is focused on developing residential communities with the aim of providing quality lifestyle that suits the dynamic needs of its residents. It channels resort-inspired aesthetics and sensibilities to deliver first-rate amenities and lush, green designs, bringing the outdoors into its properties.

The company has made its name addressing the needs of the underserved middle-income earners with projects that take full advantage of their locations to deliver first-rate dwelling experiences.

Among its notable developments is the upcoming Illumina Residences in Sta. Mesa. The 32-storey residential high-rise is made of concrete glass and steel, elements coming together to form a T-shaped design.

Also worth considering is the currently in-development Brixton Place, a two-tower vertical community situated in the residential sanctuary of Kapitolyo, Pasig that features a stunning panoramic view of Makati, BGC, Ortigas, and Antipolo.

Towering over Mandaluyong City are the Flair Towers, whose focus is to deliver homey comfort merged with modern city living, while the three-tower Lumiere Residences redefines Pasig City’s illustrious skyline with its modern tropical vibe.

A big push for DMCI Homes is incorporating as much eco-conscious decisions in its developments, with its use of environmentally friendly building materials and introduction of power-saving appliances in its condominium units.

 

STA. LUCIA LAND, INC.

Sta. Lucia Land, Inc. began in 1972 as Buen-Mar Realty, developing subdivisions in Pasig, Taytay, and Morong. The company has stayed true to its core business, but over the decades it has diversified its portfolio to include residential towers, estates, golf and country club, leisure, and retail. To date, Sta. Lucia Land, Inc. has completed over 220 projects, spread across 70 cities and municipalities, and in 15 provinces across the nation.

A notable project is the 300-hectare Colinas Verdes Bulacan, which is the first residential community to house country club amenities in the area.

Showcasing a different side to its real estate development capabilities is Splendido Tagaytay. Its two 18-storey towers overlook the Taal Lake and Volcano and the greens and fairways of the Splendido Taal Golf Club, granting residents a stunning vista on a daily basis.

Also worth mentioning, of course, is the 10-hectare Sta. Lucia Mall in Cainta, Rizal, which remains as one of the largest shopping malls in the area.

Moving forward, Sta. Lucia Land, Inc. will continue to build horizontal communities but it will also take part in condominium projects like the six-storey Sta. Lucia Business Center inside the mall complex and the Sotogrande Katipunan, located near the schools in the area.

 

SM PRIME HOLDINGS, INC.

SM Prime Holdings, Inc. made its name as the foremost mall development and management company in the Philippines, with its 70 outlets within the country and 7 malls in China taking up 9.4 million square meters of gross floor area. Now, SM has evidently gone beyond its retail-recreational roots to support the integrated lifestyle concept that pervades the industry.

Through SM Development Corporation (SMDC), it develops residential projects with the aim of providing affordable condominium units to different market segments.

With the Commercial Property Group (CPG), SM Prime Holdings, Inc. is engaged in the development and leasing of office buildings in Metro Manila, as well as the operations and management of buildings and other land holdings such the Mall of Asia Arena (MOA Arena). It will continue to develop office buildings in the MOA Complex, in particular the Three E-Com Center.

In addition, SM’s Hotels and Convention Centers business unit develops and manages various hotel and convention centers across the country.

Since SM Prime Holdings, Inc. has truly taken root in different areas of the country, it has established SM Cares to address the issue of sustainability. The division is concerned with the preservation of the environment and the people and communities of which its properties are part.