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Top Real Estate News of the Week – Oct. 14 – 20, 2022

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 (Oct. 14-20, 2022).

Demand for real estate services picking up anew

The further reopening of the Philippine economy will help real estate services to rebound, according to Benjamin Diokno, finance secretary. He specified buying, selling, and renting of commercial and residential real estate to benefit from the renewed demand for spaces as companies shift to a hybrid work setup. Philippine Star

Gov’t housing program seen to generate 1.7 million jobs

The Philippine News Agency reported that about 1.7 million jobs for Filipinos will become available as a result of the government’s housing program. The Pambansang Pabahay para sa Pilipino: Zero ISF 2028” aims to provide homes for more than 6 million families in six years. Construction of the housing units should generate direct and indirect jobs annually, according to Sec. Jose Acuzar of the Department of Human Settlements and Urban Development (DHSUD). Real Estate News.PH

Real estate loans rise 4.3% to P2.44 trillion

The Bangko Sentral ng Pilipinas (BSP) disclosed that loans from the banking industry to the real estate sector rose 4.3% by the end of June 2022. This translated to P2.44 trillion, compared to P2.33 trillion from last year. Banks were able to raise their real estate loan limit from 20% to 25%, thanks to BSP’s COVID response measures. Real Estate News.PH

D.M. Wenceslao wins at the 10th Philippine Property Awards

The D.M. Wenceslao Group of Companies bagged major awards in the recently held 10th Philippine Property Awards of PropertyGuru. Its Pixel Residences won the Best Completed Condo Development prize while its 8912 ASEAN Avenue project was deemed the Best Office Architectural Design. Real Estate News.PH

CREIT taps capital markets in bid to fund real estate acquisitions

Renewable energy real estate investment trust Citicore Energy REIT Corp. is planning to issue ASEAN Green Bonds to raise P3 billion. The company will use the amount to buy solar rooftops and 500 hectares of land that will be leased to solar power developers. Philippine Star

BDO backs green, sustainable infrastructure

BDO, the Philippines’ largest bank, is supporting an environment-friendly project, the Menarco Tower in Bonifacio Global City. The commercial building boasts not only being green but healthy as well. It is LEED Gold Certified and has won the Best Green Development prize at the Southeast Asia Property Awards and the Philippine Property Awards. Philippine Star

Megaworld expands residential footprint in Pasig

Property developer Megaworld is constructing its third residential condominium inside Arcovia City, its 12.3-hectare property along C-5 Road in Pasig City. The 50-story Arcovia Parkplace should earn P5.2 billion in sales, according to company forecast. Philippine Star

Need help with your real property needs but couldn’t decide if you want the services of a broker or an agent? We break down the difference between those two real estate professions. Get more real estate news here at Enta. Browse through our articles on helpful tips when it comes to real estate properties in our resource page.

Image Credit: Real Estate News.PH