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Real Estate + Properties
Real Estate News Roundup (June 25 to July 1, 2019)
Read about Davao's rising land value and RLI's projects in Clark in this property news roundup.
By: Shanice Reyes | June 25, 2019
RLC eyes a township investment in Clark, Pampanga.
Developing cities in the country are opportunities for property developers. Construction of government infrastructures, railroads, and airports can be factors to boost the popularity of real estate investors in a city. Robinsons Land Inc. took a golden opportunity in Clark, Pampanga to develop an idle land into a township. Meanwhile, local and foreign real estate players are still crowding Davao City regardless of the rising land value. For more on these latest real estate reports, scroll down!
Project Announcement: RLC pursues projects in Clark
Robinsons Land Inc. bought a 200-hectare land near the former American Airbase in Pampanga [1]. The Gokong-wei-led property developer plans to turn this into a mixed-use estate called Montclair. In the interest of development, RLC will also build an airport hotel in the area. Frederick Go, president of RLC, also added that the township will have residential subdivisions, commercial developments, hotels, and industrial and logistics zones.
RLC had a take-up of Php15.32 billion in sales last year and is expecting a rise for this year’s record. The property developer is presuming to unveil 4,000 units this year as well. In relation to records, RLC sold all its units in its first project overseas in Chengdu, China.
Related News: Land value rises in Davao City
Despite the rising land values, local and international real estate investors are still pursuing developments in Davao City. Property consulting firm Prime Philippines made the 2019 Davao Property Market Report indicating three areas in the city where rates grew.
The land value in Bajada-Lanang area rose by 27.5 percent, marking up from PhP50,000 to PhP100,000 per square meters (sqm) to PhP65,000 to PhP125,000 per sqm. A 16% land value growth was also seen in the Poblacion area where PhP40,000 to PhP70,000 per sqm increased to PhP45,000 to PhP85,000 per sqm. Lastly in the Matina area, there was a 52.5-percent increase in land value from PhP20,000 to PhP50,000 per sqm to PhP35,000 to PhP65,000 per sqm [2].
The consulting firm also reported that the rental rates from 2017 to 2018 were raised at an average of 8.75 percent.
For more real estate property news, visit Yoorekka.
Sources:
[1] http://bit.ly/2ZNLpLv
[2] http://bit.ly/2WZC8mE
About Shanice Reyes
Shanice Reyes writes to buy herself good coffee and bike parts. When she's not writing, you can find her playing Ultimate Frisbee, traveling to new places, or hanging out with her dogs and tarantulas. Though she has an irrational fear of heights, she'd love to try sky-diving one day.
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