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 (Nov. 18-24, 2022).
- Megaworld to build P15-B township, gaming complex in former Manila racetrack
Megaworld plans to build an Old Manila-themed estate at the former San Lazaro racetrack in Manila. Dubbed as the Winford Resort, the P15-billion gaming and commercial township will have “residential condominiums, hotels, and commercial developments with a casino complex,” according to the company. Philippine Daily Inquirer
- PDIC to auction closed banks’ farm lots
Nineteen agricultural lots, three of which are mixed agricultural and residential lots, will go up for sale for P27.2 million. These properties are owned by padlocked banks under liquidation by the Philippine Deposit Insurance Corp. They are in Aklan, Antique, Batangas, Bulacan, Iloilo, Lanao del Norte, Negros Occidental, Negros Oriental, Nueva Ecija, and Rizal. Philippine Star
- PNB selling more properties
The Philippine National Bank is raising about P1.6 billion by selling more properties to mitigate the sharp decrease in its earnings. It will dispose of a P1.51 billion residential and industrial lot in Las Pinas as well as a 280-square-meter condominium unit in Makati City worth P68.5 million. Philippine Star
- Regus franchise center to open in Las Piñas
A flexible workspace center at the Colours Town Center in Las Pinas City is set to open with the signing of a 10-year management agreement between the International Workspace Group and Kyleson, Inc. It will be the 26th Regus center in the Philippines and will have 195 workstations in addition to coworking desks, meeting rooms, and private offices within an area of 1,200 square meters. Businessworld
- Landco developing The Premier District in Batangas
Landco Pacific Corp. has launched its latest property project within Club Laiya in San Juan, Batangas. The Premier District will have 250 lots with great mountain views as well as mini parks, forest trail, and access to a swimming pool. Future residents will also be able to use a roving transport that will take them to Club Laiya’s Seaside District. Businessworld
- Metro Manila office space vacancy slips
With rates going down in all business districts for the first time since the pandemic, office space vacancy rate has also gone down. From 20.6% in the second quarter to 19.9% in the third. This was the assessment of CBRE, a real estate services and investment company. Businessworld
- Cyberscape Gamma is PHL’s 1st EDGE-certified REIT building
Robinsons Land Corp.’s 37-story office tower Cyberscape Gamma has received the Excellence in Design for Greater Efficiencies (EDGE) certification from the Philippine Green Building Initiative. It’s the first building in the country to get such a certification due to its resource-efficient design. The PEZA-registered structure is at the Ortigas central business district in Pasig. Businessworld
While “green” buildings are slowly but surely rising all over the metro, you can already enjoy the breath of fresh air from the green spaces that a lot of our cities already have. Here’s a list of these oases in Metro Manila.
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Featured Image: Businessworld Online