Real Estate News Roundup in Metro Manila (September 4 to 16, 2018)

Global-Estate Resorts Inc. (Geri), a Megaworld Corporation subsidiary, is set to build The Fifth, its first residential development in its Renaissance Complex along Meralco Avenue, Ortigas Center, Pasig City.

The Fifth will have 36 stories with the following unit offerings: studio units up to 37 square meters, one-bedroom units up to 86 square meters, two-bedroom units up to 137 square meters, and three-bedroom units up to 229 square meters. All types will be equipped with their own balconies.

The Fifth will also offer resort-inspired amenities such as an al fresco bar, a lounging and yoga deck, a sky lounge, and cabanas. “The Fifth will offer unique amenities that allow young professionals, start-up families, and even millennials [to] find time to slow down and relax at the end of each busy day. We are very excited about this new residential community,” Karen Arcilla, head of sales and marketing of Geri, said in a statement.

The property’s completion is expected by 2024 [1].

Luxury property developer Anchor Land Holdings, Inc. adds to its Admiral Property project with Admiral Grandsuites, which is situated along Roxas Boulevard.

Admiral Grandsuites, accompanied by Admiral Baysuites and Admiral Hotel in Anchor Land’s Admiral Property project, is 43 storeys tall with only 50 units in all.

The property also has features and amenities such as a theater room, a garden deck, a yoga room, a children’s club, as well as spa and wellness rooms.

Anchor Land President Elizabeth Ventura said in a statement, “Manila’s rich culture reflects the influence of Spanish and Western aristocrats. As inspired by the Admiral Hotel, Admiral Grandsuites fuses the richness of historic Manila with contemporary luxuries.”

Ventura also added that, “together with our project team and project consultants, we carefully designed Admiral Grandsuites to become a new landmark along Roxas Boulevard that offers luxury living by the bay.”

Admiral Grandsuites is near the SM Mall of Asia and is also accessible to the Ninoy Aquino International Airport [2].

American investment management company Jones Lang LaSalle Incorporated (JLL) advises the Philippine property sector to prioritize emerging real estate markets if it wants to compete with other Asian markets.

JLL has said that investors in the Asia Pacific region are now shifting their focus into the aged care, student housing, and data center markets which are “potentially big economic drivers as they complement more traditional sector investments.”

JLL Philippines head of research and consulting Janlo de los Reyes said that aged care is one of the most promising real estate sectors in the country as the senior population of retirees rises. “The Philippines makes an attractive destination for retirees because of the competitive cost of living, hospitable culture, and warm climate,” de los Reyes added.

Other favorable property sectors to prioritize include student housing as the Philippines lacks formal student housing and data centers as multinational corporations are now looking into setting up operations in the country [3].