IN the past six years, the country’s property sector had a consistent stellar performance. The growth was attributed to the boom of the information technology-business process management (IT-BPM) industry and the remittances of the Filipino expatriates working in the different parts of the world.
As the country enters 2017, the real estate will continue to experience the good times.
In their latest media release, online property portal Lamudi Philippines mentioned the country’s property sector will continue to post robust growth in 2017. As a response, property developers led by the industry titans are crafting their own strategies to capture a sizable portion of the market. In return, buyers are searching for their own unique real-estate projects that can match their evolving needs.
“As Philippine real estate continues to flourish, developers all over the country are giving their best to provide the most unique real-estate projects that match the evolving needs of Filipino homebuyers. For 2017, another batch of fresh and exciting properties will once again change the Philippine real-estate landscape,” Lamudi Philippines said.
In Metro Manila Lamudi said a couple of exciting developments will open in 2017. In Taguig City alone, the Andrew Tan-led Megaworld Development Corp. will introduce the first Venice Luxury Residences and The Viceroy, both of which are in the developer’s mixed-use McKinley Hill Township in Fort Bonifacio.
Located near the Venetian Grand Canal Mall, the Venice Luxury Residences is a three-tower Italian-inspired high-rise condo development. It has executive studios and one-, two- and three-bedroom units—ranging in size from 39 to 120 square meter. The Viceroy, on the other hand, is a much more affordable option offering studios and one-bedroom apartments, and is geared toward young professionals. Also in McKinley Hill, The Viceroy is a four-tower condo high rise, which is expected to be turned over in the fourth quarter of 2017.
Not to be outdone, property giant Ayala Land Inc.’s affiliate Avida Land will finish and turn over this 2017 its newest residential offering, the Avida Towers Verte at the corner of 9th Avenue and 34th Street also in Bonifacio Global City (BGC). Derived from the Spanish word “to see”, Avida Towers Verte is meticulously designed to maximize the optimum views of the greens and wide spaces of the northern section of BGC. Avida Towers Verte is slated for turnover in December 2017.The Ty-led Federal Land will also have a share of the action in BGC when Madison Park West opens its doors to its first occupants this year. Located in Federal Land’s BGC development Veritown Fort, Madison Park West is a luxury condo that the company claims has very unique features, including some units with their very own wine cellars.
Furthermore, Lamudi said Six Senses Resort, another project of Federal Land, is also scheduled to welcome its first residents this year. Located along Macapagal Boulevard in the Bay Area in Pasay, residents of this condo project are also automatically members of the elite Club Metropark, the premier amenity deck of the development.
Further down south, it noted a Megaworld township project will complete its residential component in 2017. Positioned to be as the South’s version of Beverly Hills, Alabang West is one of the much-awaited real-estate developments in Las Piñas.
The property boom is also being experienced outside Metro Manila as new real-estate projects are set to open this year, including Cebu. The Queen City of the South will welcome a new prime residential spot in the second quarter of 2017, which is focused on resort living. Located within Ayala Land’s 50-hectares in Cebu Business Park in downtown Cebu City is Solinea, the multitower development—all which share a central amenity area that resembles a resort in the middle of a bustling city. It will also be a Megaworld show in Iloilo as its newest residential building One Madison Place is scheduled for turnover this 2017. This three-tower cluster of 10-story condos follows a modern contemporary theme and will offer ultimate luxury to Iloilo residents. One Madison Place is within the 72-hectare Iloilo Business Park, one of Megaworld’s integrated townships in Western Visayas.
Empire East, the affordable arm of Megaworld, has also a list of residential towers scheduled set to open next year, such as the San Lorenzo Place at the corner of Chino Roces Avenue and Edsa in Makati; Pioneer Woodlands in Mandaluyong; Kasara Urban Resort Residences; the Rochester Garden in Pasig; Little Baguio Residences in San Juan; and Manhattan Garden City in Quezon City.