Need to catch up with what’s happening in the Philippine real estate industry? Here’s a roundup of the top real estate news this week (Dec. 2-8, 2022).
1. Work-from-home policy to spur demand for office space in provinces
As the government has allowed 100% work-from-home setup for companies in the information technology-business process management sector, these organizations will increase their demand for office space in the provinces that offer more talents. This was the assessment of commercial real estate agency Colliers Philippines. It added that IT-BPM companies will look to expand outside Metro Manila to take advantage of the untapped talents there. Philippine Star
Featured Image: Supafly | Flickr
2. DMCI Homes posts higher sales in Q3
With its launch of Fortis Residences in Makati and Sage Residences in Mandaluyong, DMCI Homes more than doubled its sales and reservations in the third quarter of the year. The company said 2,610 units made up of residences and parking slots were either sold or reserved. Philippine Star
3. Villar bets big on casino
Real estate tycoon Manny Villar said his group is set to redevelop the 18,000-square-meter Vista Mall Global South in Las Pinas where a premiere casino resort will rise. The integrated casino resort will have shopping and retail, hospitality, food and beverage, and entertainment. It will be like Solaire Resort & Casino, City of Dreams, Okada Manila, and Resorts World Bayshore. Philippine Star
4. JEG Development Corp. launches real estate arm
Cebu-based real estate company JEG Development Corp. has created JEG Realty Corp. (JRC) to manage its commercial, residential, and mixed-use properties. JRC’s objective is to take advantage of Cebu’s increasing demand for sustainable buildings through several projects. Businessworld
5. Government to build mid and high-rise units for poor
During the turnover of housing units to 30,000 families in Naic, Cavite, President Bongbong Marcos disclosed plans to build mid and high-rise housing projects in Metro Manila. He added that erecting residential buildings makes more sense due to the lack of available land in the metro. Businessworld
You can read more about the state of the country’s housing problems by clicking on the link.
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