Real Estate News Roundup (February 2020)

In a joint venture with the Seda brand, Ayala Land Inc. (ALI) opened its second Cebu City hotel in January 2020 [1]. Seda Central Bloc, a 17-story hotel will rise within the ALI Central Bloc community in the famous business district, Cebu IT Park. The hotel aims to attract leisure and business travelers, and will cater to young professionals and managers of business process outsourcing (BPO) firms. 214 rooms sized 28 square meters will be available to guests, including 48 serviced rooms such as 30-square meter studios and 90-square meter three-bedroom units. It also features accessible amenities like an all-day dining outlet, a swimming pool, meeting rooms, a fitness center, and a roof deck bar.

The Crib Tower A, a three-tower development along Corporate Woods Avenue, Alabang, will be launched. Answering the demands of students and employees for co-living spaces, the eleven-story building is a fun and hip alternative to old-style dormitories. It will have full amenities and rooms that can be customized to suit the preferences of each resident. It will also have shared areas with free Wi-Fi, study zones, and a lounge with pantry.

Each unit is air-conditioned and well-furnished with built-in closets as well as bed and storage spaces for each tenant. Guests will also feel secure with the 24-hour security service and CCTVs installed in particular places. The development is located near schools and offices within the “Live, Work, Play” community of Filinvest City [2].

A three-building condominium project called Sonora Garden Residences by DMCI Homes and Robinsons Land Corp. will soon rise in Las Piñas City. The development will consist of three uniquely named buildings: 15-story Sellan, 40-story Cadence, and 41-story Liran. Future residents can choose among one-, two-, and three-bedroom units ranging from 28 square meters to 83.5 square meters. The residences promise a resort-living experience within the bustling metro near Alabang-Zapote Road.

In addition to the luxurious style, indoor amenities like an entertainment room, Sky Promenade, game area, and a fitness center will be accessible to the condo owners. Outdoor amenities such as lap, kiddie, and leisure pools; a basketball court; a playground; a pool deck; a jogging path; and an open lounge will also be enjoyed by the residents. The Sonora Garden Residences will be ready for occupancy by December 2023 [3].

Global-Estate Resorts Inc. is launching a new residential village, Lindgren, inside the 251-hectare Arden Botanical Estate in Cavite. The 17-hectare village is a community designed with 40% of spaces allocated for green and open spaces, including a mini-botanical garden where residents can relax and socialize. The houses, which are inspired by Scandinavian design, are available in the following options: a two-story duplex called Astrid, a two-story single detached Brenna, and a three-story single detached Colby homes. The lots vary in size, from 159 square meters to 252 square meters, and the turnover will start by 2025 [4]. Within the village, there will also be a clubhouse, gym, adult and kiddie pools, Jacuzzi, sauna, day-care center, play area, multipurpose court, outdoor bar, cabana, and a convenience store.

Publicly listed property developer Megaworld Corp. is launching Pearl Global Residences, its fifth residential condominium in Lapu-Lapu City, Cebu. The 20-story tower is located inside Mactan Newtown near the road leading to the famous Lapu-Lapu Shrine [5]. It will have 222 units divided into the following types: an executive studio with either a balcony or lanai, a one-bedroom and executive bedroom with a balcony, a two-bedroom with balcony or lanai, and a three-bedroom with a balcony—all ranging from 40 square meters to 116 square meters. On the second level of Pearl Global Residences, residents can use the adult and kiddie pools, gym, outdoor lounge, play area, function rooms, and co-working spaces.

Real estate consultancy and property investment strategy firm Lobien Realty Group (LRG) studied and analyzed the residential and office markets in the country [6]. The firm expects a promising real estate market this year. The demand for office buildings is expected to reach a 10% growth yearly, and this is largely driven by Philippines Offshore Gaming Operators (POGOs) and business process outsourcing (BPO) companies.

Meanwhile, the residential sector will continue to expand with the expected high demand from local and foreign nationals. Moreover, 376,000 condominium units were completed as of the fourth quarter of 2019 in Metro Manila, and there will be an additional 15,500 units by 2020. The prices for residential condominiums are expected to grow by 5% to 6% yearly from 2020 to 2022. The consultancy firm also believes that the country is one of the hottest real estate investment scenes in Southeast Asia.

Go to Yoorekka to get more real estate updates and property news!