Top 10 Real Estate In The Philippines – MANILA, Philippines—In the third quarter of 2016, the Philippines was the fastest growing economy in Southeast Asia with a GDP growth of 7.1%, according to the National Economic and Development Authority (NEDA).
“The strong growth of our economy in the third quarter last year is a good sign of things to come. Along with a low inflation environment, sustained strong growth bodes well for continued poverty reduction in the country,” NEDA National Policy and Planning Staff Director Reinaldo Cancio said.
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Local property developers are also enjoying this strong economic growth which has further encouraged them to invest in real estate development. Thanks to low interest rates, expansion of foreign investment, and a steadily growing business process outsourcing (BPO) industry and remittances from overseas Filipinos.
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In the infographic below, let’s see how major real estate players in the country fared financially last year.
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We got a vacant lot north of Cebu City, Danbante… The lot is 59000+ sqmtr besides nice coral reefs on the beach… Anyone interested? He says 2012 was a banner year for the Philippine property market. During the year, approximately 52,000 condo units were sold in Metro Manila alone. Numerous projects were unveiled not only in the capital but also in neighboring provinces and other major cities.
Metro Manila’s office real estate sector is also doing well on the back of the booming business process outsourcing (BPO) industry. According to statistics from the Business Process Association of the Philippines, the industry now employs nearly one million Filipinos, and this requires an estimated 2.8 million square meters of office space. Additionally, a report published by the Urban Land Institute and PricewaterhouseCoopers stated that Metro Manila will be one of the top real estate destinations in the Asia-Pacific region, after Tokyo, Shanghai and Jakarta, and ahead of Sydney.
Although players are still wary (there’s constant talk of a looming asset bubble and who can forget the 1997 Asian financial crisis), there’s no denying that the industry is operating in an increasingly dynamic environment. Even new players are entering the business, launching new projects left and right hoping to capitalize on the market boom, and old-timers are re-strategizing (and consolidating their business units) to strengthen their footing – and benefit from bigger and cheaper in the process. financing.
A look at the Philippine real estate market reveals that the industry is still dominated by a few major players. In this article I summarize and rank them using their most recent market capitalization (or their parent companies, if not publicly listed) and here’s what I found.
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Publicly listed Ayala Land is still the largest Philippines real estate developer based on market capitalization, which stood at $9.87 billion as of April 10, 2014. The company’s residential arm has five brands—Ayla Land Premier, Alveo, Avida, Amaya, and Bellavita— and a total of 147 residential projects with a sales value of Php240 billion.
Ayala Land’s high-end arm Ayala Land Premier is the name behind some notable residential projects such as the three-tower The Residences, One Roxas Triangle and One Serendra in the greenbelt of Makati and Bonifacio Global City. His projects currently include The Suite and East Gallery (both in The Fort) and Park Terrace, Garden Towers and Two Roxas Triangle (in Makati).
Alveo Land captures the company’s upscale market; It is also the name behind some of Metro Manila’s well-known projects such as The Columns and Two Serendra. Alveo has several projects in various stages of completion, the most notable of which are High Street South Block in The Fort (Verve Residences and Meridian), Lerato, Croma and Solstice in Makati, and Portico in Pasig.
Besides, a large number of township projects are currently in the pipeline in Ayala Land. These include Vertis North in Quezon City, Arca South in Taguig City (a former FTI property), The Circuit in Makati City, and Altaraza in San Jose del Monte, Bulacan.
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In 2013, SM Prime announced the consolidation of the group’s real estate businesses, which would rival Ayala Land’s foothold as the country’s largest and most diversified real estate company.
Once the merger is completed, the company owned by the Philippines’ richest man is expected to become Southeast Asia’s largest property firm by market capitalization, which stood at $9.554 billion as of April 15, 2014.
The transformed SM Prime will operate 47 malls with a gross floor area (GFA) of 5.8 million square meters across the Philippines and 6 malls in China with a combined GFA of 800,000 square meters; 17 high-rise condominium projects and 34,482 units will be commissioned from 2013 to 2018; And the total land area is 920 hectares. After the merger, SM Prime’s core operating units will focus on malls, residential, commercial, hospitality and leisure and lifestyle cities.
SM’s notable residential projects include Jazz Residences in Makati, Light Residences along EDSA in Mandaluyong, Sun and Green Residences in Manila, and Blue Residences in Quezon City.
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SM Prime has recently started developing its own mixed-use projects starting with the Mall of Asia complex in Pasay City. Upon completion, the 60-hectare project will have two residential projects (Shore and Sea Residences), BPO office buildings, two hotels and the third largest shopping mall in the country. Similar plans are underway to convert its other properties into lifestyle cities.
The Philippines’ third richest man, Andrew Tan’s Megaworld Corporation introduced Filipinos to the “Live-Work-Play-Learn” concept with its 18-hectare Eastwood City. Located in Libis, Quezon City, this township currently has 15 completed luxury condos, 7 ongoing residential projects, and 9 corporate buildings, with around 25,000 residents and over 100 office tenants and BPO companies. As of 2013, Megaworld has 10 more townships in various stages of development with a combined land area of 253 hectares.
Apart from townships, Megaworld is also developing several “standalone” residential projects in Metro Manila. They include Greenbelt Hamilton, Paseo Heights and Three Central in Makati City.
Headed by David M. Consunji, the eight richest man in the Philippines, DMCI Homes is a wholly owned subsidiary of DMCI Holdings, a company engaged in general construction, mining, power generation, water distribution and infrastructure.
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According to DMCI Holdings’ 2012 annual report, DMCI Homes posted a net contribution of Php2.2 billion to the holding company’s annual income and posted revenues of about Php 9.2 billion. According to the 2012 annual report, DMCI Homes has 53 residential projects, with more than 15,000 units sold in 2011 and 2012, with sales of about Php 34.3 billion. DMCI Homes expects a turnover of around 13,493 units from 2013 to 2018.
Over the years, DMCI Homes has built several notable projects, including the multiproject Acacia Estates in Taguig. Other ongoing developments include One Castilla Place, Sorrel Residences and Torre de Manila.
Federal Land, the sole real estate arm of GT Capital Holdings, posted a 2012 consolidated income of Php 2 billion in the company’s annual report, up 231 percent from a year ago. Unit sales also increased by 59 percent to 3,448 units from a year ago, and reservation sales increased by 90 percent to Php14.9B for the same period. As of 2012, the company has 18 projects in various stages of completion and over 100 hectares of land.
The real estate developer, first known as Federal Homes, launched its first project in 1972 with a solar tower residential condo in Binondo, Manila. It took a new name—Federal Land Inc.—in 2002, and has since unveiled several notable residential projects; Tropicana Garden City, Oriental Garden Makati, Paseo de Roses and The Oriental Place.
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The company in partnership with Japan’s Oryx Corporation will bring the country’s first Hyatt residence to the Philippines, which will stand next to the Grand Hyatt Hotel in Federal Land’s Verytown Fort project in Bonifacio Global City. Upon completion, the township will boast several other residential projects such as Central Park West, Madison Park West and Park West.
Touted as the second largest mall operator in the Philippines, the John Gokongwei-led Robinsons Land Corporation (RLC) is the real estate arm of JG Summit, one of the country’s largest conglomerates. As of December 31, 2013, RLC owns a total of 573.9 hectares of land, most of which is for its residential areas.
RLC’s real estate business is divided into four segments: Malls, Residences, Offices and Hotels. The company currently operates 32 shopping malls, 8 completed buildings with approximately 193,000 square meters of net leasable space, 6 hotels and 59 residential projects, the most notable of which is The Radiance.
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