Winners of the PropertyGuru Philippines Property Awards Spearhead Innovative Development Nationwide
Introduction
The Philippine real estate landscape is undergoing a transformative shift, with growth and development increasingly extending beyond the traditional confines of Luzon and Metro Manila. This expansion is particularly evident in the Visayas and Mindanao regions, where innovative developers are making significant strides in the property market. Recognized for their contributions to these burgeoning areas, the winners of the PropertyGuru Philippines Property Awards are at the forefront of this exciting evolution.
A Booming Economy
As of 2023, the Philippines boasts an impressive annual GDP growth rate of 5.6%, positioning it as one of Asia’s fastest-growing economies. This growth is fueled by a combination of factors, including increased consumer spending, foreign investment, overseas remittances, and a resurgence in international tourism. According to the Property Report by PropertyGuru, these elements are creating a buoyant market ripe for real estate development.
Major infrastructure projects have played a pivotal role in unlocking the potential of contiguous plots of land, paving the way for master-planned developments that extend far beyond the capital. Cyndy Tan Jarabata, chairperson of the PropertyGuru Philippines Property Awards and president of TAJARA Leisure & Hospitality Group Inc., emphasizes the growing market for upscale homes and resort living in the Visayas and Mindanao regions. Key transportation initiatives, such as the Mactan-Cebu International Airport and the Cebu–Cordova Link Expressway, have significantly enhanced accessibility, making these regions increasingly attractive to both local and international investors.
Commitment to Quality Development
Amidst the ongoing economic recovery, developers are demonstrating a strong commitment to diversifying progress by constructing high-quality residential, commercial, and industrial projects across the archipelago. The PropertyGuru Philippines Property Awards have recognized these efforts, awarding prestigious accolades to projects in secondary cities and emerging markets, including Cebu, Davao, Batangas, Bacolod, and Iloilo.
Spotlight on Aboitiz InfraCapital
Aboitiz InfraCapital Economic Estates has emerged as a key player in this landscape, winning the title of Best Industrial Developer (Asia) at the 18th PropertyGuru Asia Property Awards Grand Final and the Best Industrial Developer at the 11th PropertyGuru Philippines Property Awards. Cyel Auza, vice president for Cebu Operations, highlights the tremendous interest in their industrial spaces, particularly in the MEZ2 Estate and West Cebu Estate. This strong demand underscores Cebu’s growing reputation as a manufacturing and logistics hub, further amplified by limited industrial inventory in the region.
The West Cebu Estate, which has transitioned from a shipbuilding focus to accommodating diverse industries, exemplifies the adaptability and potential of these developments. Aboitiz InfraCapital’s commitment to providing world-class industrial estates is evident, as they aim to empower businesses and contribute to the region’s economic progress.
Cebu Landmasters: A Rising Star
Cebu Landmasters, Inc., another prominent developer, has also made significant strides in the property market. Winning the title of Best Developer (Mindanao) at the 11th PropertyGuru Philippines Property Awards, the company has seen remarkable success with its projects in Cebu and Davao, all of which sold out shortly after market introduction. Jose Franco Soberano, SEVP & COO of Cebu Landmasters, expresses optimism about the property markets in these cities and the 16 key cities in VisMin where the company operates.
Cebu Landmasters is behind celebrated projects such as Casa Mira Towers Bacolod and Casa Mira Iloilo, both of which received accolades at the PropertyGuru Philippines Property Awards. The developer is also making waves in Bohol with Costa Mira Beachtown Panglao and in Davao with DGT City Center, showcasing its commitment to expanding its footprint across the archipelago.
Expanding ESG Categories
The upcoming 12th PropertyGuru Philippines Property Awards in 2024 promises to elevate the standards of real estate further by introducing new categories focused on environmental, social, and corporate governance (ESG). These accolades will celebrate developers for their achievements in sustainable design, construction, energy efficiency, and social impact. Jules Kay, general manager of PropertyGuru Asia Property Awards and Events, emphasizes the importance of recognizing trailblazing developers who are venturing into investment opportunities beyond the capital, envisioning master-planned projects in the rapidly evolving metropolises of Visayas and Mindanao.
Key Dates for the 2024 Awards
The 12th PropertyGuru Philippines Property Awards will take place on September 6, 2024, at Shangri-La The Fort in Manila. Key dates for the event include:
June 14, 2024: Entries close
July 1 – August 9, 2024: Site inspections
August 12, 2024: Final judging
September 6, 2024: Gala dinner and awards ceremony
December 13, 2024: Regional Grand Final Gala Presentation in Bangkok, Thailand
Conclusion
The PropertyGuru Philippines Property Awards serve as a testament to the innovative spirit and commitment of developers across the nation. As the Philippines continues to experience economic growth and infrastructure development, the spotlight on Visayas and Mindanao is set to shine even brighter. With a focus on quality, sustainability, and community impact, these award-winning developers are not just shaping the real estate landscape; they are also contributing to the overall progress and prosperity of the regions they serve. As the 2024 awards approach, the anticipation for recognizing excellence in Philippine real estate is palpable, promising a future filled with exciting opportunities and developments.