Top 10 Real Estate Companies In The Philippines – MANILA, Philippines – In the third quarter of 2016, the Philippines was one of the fastest growing economies in Southeast Asia with GDP growth of 7.1%, according to the National Economic and Development Authority (NEDA).
“The strong growth of our economy in the third quarter of last year was a very good sign of things to come. Coupled with a low inflation environment, continued strong growth bodes well for continued poverty reduction in the country,” said NEDA National Policy and Planning Team Director Reynaldo Cancio.
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Also benefiting from this strong economic growth are local property developers who have been further encouraged to invest in real estate development. Thanks to low interest rates, expanding foreign investment, and a steadily rising business process outsourcing (BPO) industry and Filipino remittances abroad.
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In the infographic below, let’s take a look at the financial performance of the country’s major real estate players last year.
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We have a vacant lot north of Cebu City, Danbantai… Apart from the nice coral reefs on the beach, the lot is 59000+ square meters… Anyone interested? Although controversial in some ways, 2016 can be considered a fruitful year for the Philippines. Despite challenges. The transition typical of any new administration, the country has managed to preserve its economic growth, which international real estate consulting companies such as Colliers International and JLL predict will continue at a rate of 6.2-6.9 percent in 2017.
The prospect of continued growth seems to have been enough to encourage real estate developers to launch more projects, with many increasing their revenue streams from various property offerings.
Below is how much these developers earned in 2016, sourced from the latest financial reports they made with the Philippine Stock Exchange (PSE), or financial disclosures shared with the press or published on their official websites.
Evident even in the numbers of the first three quarters of 2016 alone, Ayala Land and SM Prime Holdings, and their subsidiaries, continue to hold the lion’s share of profits among real estate developers in the Philippines.
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The net profit of Ila Land, considered the largest and most diversified property developer today, remains the highest in the country, thanks to its core activity which includes managing land banks, residential development, shopping centers, corporate businesses and hotels. In a press release issued in September 2016, Ila Land highlighted its plan to expand its already diverse property offering within its current roster of 19 integrated mixed-use developments nationwide.
Although it has a similarly diverse core business, SM Prime is best known for being the largest mall and retail operator in the Philippines, with a current inventory of 57 malls in the country and six in China. These were the main earners of the company. The SM Prime residential group, led by SM Development Corporation (SMDC), on the other hand, is what continues to cover about a third of the developer’s income.
Also in the mall business is Robinsons Land Corporation, which reported a 7.88% increase in its net profit for its financial year ended September 2016, mainly driven by its 44 malls. The real estate arm of JG Summit Holdings Inc., Robinsons’ resume as of the end of its most recent fiscal year includes 79 condominiums and other housing projects, 13 office projects and 15 hotel properties in the country.
A leading urban township developer that has already launched integrated townships, more than 200 residential buildings, office towers, commercial centers and hotels, Megaworld Corporation continues to enjoy growing annual net income. It should be noted that although Megaworld does not have the highest profits, it also has partners such as Suntrust Home Developers, Inc. and subsidiaries such as Global-Estate Resorts, Inc. Records and reports income independently.
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While rental income is the more predictable component of a company’s income, real estate income is often what most affects the difference in past and present income, as evidenced by developers such as Vista Land, Filinvest and Anchor Land. These and other developers have enjoyed significant increases in net income, thanks in large part to the completion their sold inventory and the sale and construction of newer properties.
Conversely, some developers experienced a decline in 2016 net profit due to reporting significant portions of their revenue in prior years. Such is the case with Century Properties, which experienced a nearly 50% drop in net profit as most of its project completions occurred in 2015, while 2016 saw fewer pre-sales and project launches.
A similar situation is that of DMCI Homes, which reported that its net profit for 2016 is significantly lower than the previous year, because many of its residential areas are still to be completed. The company’s practice of recognizing profits from residential sales only when the related project has been completed and ended successfully contributes to the decrease, but also indicates expected profits for the company in the coming years.
Additional reasons for the decrease in income typical of real estate developers are the expense involved in expanding land banks and launching new real estate projects. Such is the case of green builder Italpinas Development Corp., which in mid-2016 launched Primavera City in Cagayan de Oro, and completed designs for Miramonti in Batangas. According to the report, the former involves an investment of Php 670 million, while the latter between Php 600 and 800 million, once completed.
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Declines in net profit can also be attributed to expenses companies incur in other industries outside of the real estate they are involved in. While A. Brown Company Inc. has no real estate projects under construction, it has partnered with the local arm of a Malaysian infrastructure concern that embarked on a railroad project in Cagayan de Oro, and energized one of its transmission lines in Iloilo.
While most of the Philippine real estate sector has enjoyed growth, or at least positive, income, some have also suffered losses. For companies like Primex Corporation, it focused its money on the successful prepayment of its loan obligations to Metrobank and BDO. The Philippine Realty and Holdings Corporation, on the other hand, Spent most of 2016 cutting its net losses.
*Since not all publicly listed real estate developers have released their full financials for 2016, bookmark this page for updates on their full annual revenue for the year.
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We at – are committed to giving you the best experience. For any question, suggestion, comment or problem, please contact us. They say 2012 was a banner year for the Philippine property market. During the year, approximately 52,000 housing units were sold in Metro Manila alone. Many projects were unveiled not only within the capital but also in neighboring districts and other key cities.
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Metro Manila’s office real estate sector is also doing quite well on the back of the vibrant business process outsourcing (BPO) industry. According to data from the Business Process Association of the Philippines, the industry now employs close to one million Filipinos and that translates to about 2.8 million square meters of office space. In addition, a report published by the Urban Land Institute and PricewaterhouseCoopers says that Metro Manila will be among the top real estate destinations in the Asia-Pacific region after Tokyo, Shanghai and Jakarta and a rank ahead of Sydney.
Although the players are still cautious (there is constant talk of an impending property bubble and who can forget the Asian financial crisis of 1997), there is no denying that the industry is heating up in an atmosphere that is becoming more and more lively by the day. Even new players are coming in
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