Steady as ever. Eton Properties’ Belton Place, Brittany’s Avant at The Fort, Megaworld Corp.’s One Central and Mosaic by Brittany at Greenbelt, Makati City

At least 20 residential condominium projects were launched during the first three months of this year, quelling speculations that the property-development sector is in for a slowdown due to current economic conditions.

Several high-rise condominium projects that have been in the pipeline for development this year were launched almost simultaneously, as most,  if not all, of the project developers and builders remain exceptionally positive  in putting up residential, recreational, industrial and commercial projects.

Rose C. Basa, chairperson of this year’s Philippine Real Estate Festival, told the BusinessMirror that several international road shows to be participated in by local real-estate developers are slated to be held in the Middle East, Europe and North America.

Most of these development projects were either recently launched or about to be introduced to local and foreign buyers, including migrant workers or OFWs.

Basa said, “If the forthcoming Real Estate Festival this July will be the yardstick in determining the true state of the industry, then we could safely assume that developers have remained bullish and more than positive about their projections for this year and the next few years.”

She said the numbers still show that the property market remains positive.

“During the past year alone, there are more or less 100 projects being developed and built. Most, if not all, of these projects were already sold out and developers are pressed to launch new projects as demands continue to remain as steady as ever,” Basa stressed.

The country’s premier commercial districts of Makati, The Fort in Taguig, Manila, Quezon City and Mandaluyong are areas most sought by developers in their residential development projects.

Some are located in Laguna, Cavite, Tagaytay, Pasig, Sucat and Marikina. Property expansions remained at a steady pace in urban centers outside of Metro Manila, particularly Cebu, Cagayan de Oro and Davao cities.

Projects such as residential condominiums remained as a “high priority” as home buyers continue to appreciate the fact that acquiring these types of development is a “useful investment,” Basa said.

Property values of residential condominium units within the central business districts of Makati and Ortigas continue to rise and are seen by many as a worthy investment. 

Leading property players such as Century Properties, Brittany Corp., Crown Asia, Eton Properties, Ayala Land and Landco Pacific Corp. continue to launch trendsetting property-development projects such as townships and so-called residential enclaves with mixed-use features.

Century Properties has embarked on a development blitz within the former International School grounds in Makati, the P5-billion, mixed-use project which it called “Century City.” Its skyscraper, ultramodern residential condominium project The Gramercy Residences has been selling briskly and about to be fully sold, while another condominium tower, Knightsbridge Residences, is scheduled for launch this month, but sales reservations are lining up already from interested buyers.

Brittany Corp., together with Eton Properties, Ayala Land and Megaworld, among others, have launched their latest condominium projects almost side by side within the vicinity of Makati’s Greenbelt area.

Megaworld Corp. leads in the condominium-project developments, particularly within major urban areas in the metropolis, with almost 10 ongoing premier residential developments over the past year. These projects include McKinley Hill Tuscany Private Estate in Fort Bonifacio, Eastwood LeGrand 2 and One Central in Quezon City and Makati City, respectively.

In the midpriced residential subdivision and condominium projects, Robinsons Land Corp. continues to sustain its project developments following the recent launch of its Dream Homes collection.

Empire East Land Holdings Inc., a property firm largely owned by Megaworld Corp., launched three major residential projects in Metro Manila, namely, San Lorenzo Place in Makati, Pioneer Woodlands in Mandaluyong City and Little Baguio Terraces in San Juan City. Empire East will spend at least P6 billion to P8 billion over the next five years on new projects.

Korean firms team up for P1-B Subic resort-hotel

SUBIC BAY FREEPORT—Counting on the influx of tourists and students from South Korea and the growing number of Korean businesses in the country, two Korean investors have pooled resources for a P1-billion resort-hotel project here.

Property development still at steady pace

At least 20 residential condominium projects were launched during the first three months of this year, quelling speculations that the property-development sector is in for a slowdown due to current economic conditions.

DAVAO CITY—Heavy siltation of the entire Davao City coast may muddle the plan of the city and the Department of Tourism to develop what may be a world-class wreck dive site of World War 2 Japanese ships just off its southern coast.

AS a tropical country, the Philippines is frequently visited by typhoons in the rainy season, more often leaving the rural areas a disaster site for their crops, houses and schools. The common refuge of the victims are the local schools—if they are not themselves damaged.