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Socialized housing challenges continue to hound developers

MANILA, Philippines —  While stakeholders in the country’s property sector are committed to do their part in quelling the growing backlog in housing, several hurdles, particularly on the regulation side, continue to pose a challenge to developers. Subdivision and Housing Developers Association (SHDA) president Christopher Narciso said the country’s housing backl…

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Thai firm building up to 15 new budget hotels in Philippines

MANILA, Philippines — The Erawan Group Plc., Thailand’s leading hotel developer, is planning to build up to 15 budget hotels in the Philippines over the next five years. Kamonwan Wipulakorn, president and director of The Erawan Group, said the company is allotting P4 billion over the next five years to build 12 to 15 budget hotels under the Hop Inn brand in Manila, Cebu an…

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Cebu-based developer enters Manila market

MANILA, Philippines - While major property firms are expanding their footprints outside Metro Manila, one provincial developer is doing the opposite as it seeks more opportunities in the highly-competitive Makati office market. Innoland Development Corp., founded in Cebu in 2005, recently launched its first office building in Metro Manila, Altaire, a 45-story building on a 6,111 squar…

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Century Properties redefines affordable living

Phirst Park Homes Tanza MANILA, Philippines -  Upscale real estate developer Century Properties has made its foray into the affordable housing market, as it launched a 26-hectare house and lot project in Tanza, Cavite. Over the weekend, Century Properties introduced PHirst Park Homes Tanza, its first affordable housing project which caters to different types of first-…

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Megaworld builds new landmark in Pampanga

Artist’s aerial perspective of Capitol Town in Pampanga. San Fernando CITY, Pampanga, Philippines - Property giant Megaworld Corp. is expecting to generate P1.7 billion from the sale of six hectares worth of commercial spaces…

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Supply of BPO-ready buildings in Metro Manila now dwindling

MANILA, Philippines -  With office vacancy rates hovering at four percent in the Ortigas-Pasig-Mandaluyong area and in the rest of Metro Manila, office spaces like Ortigas Technopoint Two to be completed at the last quarter of 2017 are in tight demand. While there remains a strong supply of office space coming in 2017, demand for strategically located buildings continue to be rap…

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