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. 25 – Dec. 1, 2022).
- PrimaryHomes Partners Reunited After Two Years
Real estate brokers and sellers from Cebu, Bohol, and Negros gathered together face to face for the first time in two years for PrimaryHomes Inc.’s (PHI) Grand Partners Appreciation Night 2022. The event, held at the Waterfront Hotel, was deemed as the grandest gathering of real estate practitioners in Central Visayas. It’s also part of PHI’s Ultra Incentive Program that has been running for about 14 years now. Philippine Daily Inquirer
- AbaCore to put up mixed-use estate in Batangas
AbaCore Capital Holdings Inc., through its subsidiary Philippine Regional Investment Development Corp., has partnered with Highsource Prime Building Inc. Their aim is to develop a mixed-use estate in Batangas. The agreement will put up a four-star hotel, land and water amusement park, residential and commercial community, and a “3D Glass Paradise” at AbaCore’s Montemaria Shrine. Philippines Star
- Ayala Land unveils new bond program to pay old debts
Ayala Land Inc. will be borrowing from its investors up to P45 billion through retail bonds and/or corporate notes. This is to settle old debts and get funds to partially cover corporate expenses. However, the company said it’s doing good despite the raised interest rates for home loans. It revealed that reservation sales from its residential segment reached P77.3 billion on a 10% year-on-year growth in the first three quarters of 2022. Philippine Star
- Appetite for luxury condos returns
Colliers said in a statement that the demand for luxury condominiums in the Philippines has risen by 28% in the first nine months of the year. This despite the rising interest rates. The property management company pointed to the strong demand especially in the Fort Bonifacio and Ortigas Center central business districts. Businessworld
- Ortigas Land unveils expansion plans
A Manila Standard report said Ortigas Land Corp. is eyeing to go public in five years either as an initial public offering or real estate investment trust offering. The move is meant to raise funds for further expansion plans. Ayala Land Inc. and SM Prime Holdings Inc. have a majority stake in the company. Real Estate News.PH
- Millennials, Gen Z to emerge as major property buyers
The next three years will see millennials and the Gen Z demographic becoming a major market for real estate properties. Carousell Philippines, an online classified market space, believes these individuals will be responsible for most of the property sales on its online platform as they earn more or enter the workforce. Real Este News.PH
Millennials, zoomers, and just everyone would surely appreciate our list of the 10 luxury condominiums in Metro Manila.
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Featured Image: Philippine Star | Miguel De Guzman