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Real Estate News Roundup (January 2020)
Come to know real estate news for the new year with this handy overview.
By: Shanice Reyes | January 07, 2020
This 2020, the country’s real estate industry is welcoming new projects and strong records. With new condos and housing left and right, the infrastructure throughout the Philippines continues to expand. In Luzon, Horizon Land tops off the first building of its Siena Towers in Marikina City. Also, DMCI aims to finish the second building of its Sheridan Towers by the second quarter of this year. Amaia recently revealed to the public its newest residential project in San Fernando, Pampanga, offering well-laid-out units. Meanwhile, Ayala Land is currently working on replicating Tarlac City’s beloved poblacion with its mixed-use estate called Cresendo. Concurrently, in Cagayan de Oro, The Grove by Pueblo de Oro Development Corp. will open an exclusive boutique community. In related news, Colliers International Philippines reports a “sustained” property market in the country for the next two years. For more of the newest real estate and property news for January, read on!
Property Launches
Horizon Land tops off first building of Siena Towers
Horizon Land, a subsidiary of Federal Land Inc. recently topped off the first building of its Siena Towers project in Marikina City. The first tower is situated on a 5,473 square meter (sqm) lot along Sumulong Highway, which is near schools in Marikina and Quezon City. The Siena Towers will also be accessible to business parks and shopping malls. The towers will have 227 residential units, with the property having its own retail stores [1].
Pueblo de Oro launches exclusive community in Cagayan de Oro City
The Grove at Pueblo Golf was recently launched by Pueblo de Oro Development Corporation in Cagayan de Oro City [2]. The exclusive boutique community features residential townhouses that highlight a “modern Asian” style. The townhouses are surrounded by green sceneries and open spaces of the Pueblo de Oro Golf Course. The residential community offers 92 two-story house units within the 1.66-hectare lot. Each unit will have three bedrooms, three bathrooms, a flexi-room, and a carport for two vehicles. Owners of the units can also relax to the view of the golf course from their own balconies. Floor areas of each unit range from 90 to 101 sqm while the lot sizes range from 88 to 132 sqm.
Project Announcements
DMCI’s second building of Sheridan Towers will have its turnover in May 2020
During the second quarter of 2020, DMCI Project Developers plans to turn over the second building of its Sheridan Towers project to unit owners [3]. The North Tower, which is 48 stories high, was 90% completed in November 2019 and is on track for its ready-for-occupancy target date in May 2020. Located along Sheridan Street in Pasig, the Sheridan Tower targets young professionals and startup families working in Makati, Mandaluyong, Ortigas, and Bonifacio Global City. Both towers offer one-bedroom, two-bedroom, and three-bedroom units.
Amaia Scapes San Fernando takes advantage of Pampanga’s growing economy
Property developer Amaia Land Inc. takes advantage of Pampanga’s growing economy by developing a residential community in San Fernando [4]. Amaia Scapes San Fernando hopes to attract buyers with its modern and skillfully laid-out single homes, twin homes, twin-pod, bungalow pod, and multi-pod units, with prices ranging from PhP1.3 million to PhP2.8 million. The gated community will have amenities for the residents like a basketball court, a children’s playground, a village pavilion, and patio greens.
Ayala Land introduces a new mixed-use estate in Tarlac City
Property giant Ayala Land Inc. (ALI) recently unveiled a new mixed-use development in Tarlac City: Cresendo estate. Replicating Tarlac’s beloved poblacion, the 290-hectare development features a “modern local community” containing residential, commercial, and industrial components. A 30-hectare urban core will be located at the heart of Cresendo. This area, which is called Cresendo Town Plaza, will have a central plaza with a church, a school, and a commercial district [5]. Cresendo Town Plaza will also be the center for activities and seasonal community gatherings. The plaza will have commercial buildings ranging from 500 to 2,000 sqm.
A 1.5-kilometer greenway will also be built from the town plaza to the 7-hectare River Terraces, a residential development also situated within the Cresendo estate. For the industrial section, ALI allocated 32 hectares for the Cresendo Industrial Park (CIP). The park offers lots ranging from 1,200 to 10,000 sqm with a starting price of PhP6,000 to PhP9,000 per sqm. The Cresendo estate sits in Barangay Central, which is also near the Subic-Clark-Tarlac Expressway and McArthur Highway.
Related News: Sustained property market over the next two years according to Colliers
Colliers International Philippines, a real estate consultancy firm, sees a “sustained” property market value over the next two to three years. Its recent report entitled “Stronger GDP (Gross Domestic Product) Bolsters Property” shows the growth in private construction that is backed by increasing public infrastructure spending. The 11% rise in public infrastructure spending in 2019’s third quarter was the cause of the 19.1% rise in private construction. There was also a 6.2% growth in the country’s GDP during the third quarter, making the Philippines one of the fastest-growing economies in Asia [6].
A strong demand for office towers, residential units, shopping malls, hotels, and industrial parks across the country was noted by Colliers as well. In addition, it appears that co-living housing projects are being demanded more by Filipino workers, especially employees in Metro Manila. With the efforts of the government to regulate the sector through better tax collections, the consultancy firm also expects the demand for office spaces to extend in the next two or three years.
Visit Yoorekka for more news on the real estate market of the Philippines!
Sources:
[1] http://bit.ly/2ZRhdQG
[2] http://bit.ly/2QrAKUQ
[3] http://bit.ly/2SWf0lu
[4] http://bit.ly/36srTYE
[5] http://bit.ly/37EoAxy
[6] http://bit.ly/2QsbCNV
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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