2015 was a banner year for the Philippines. In a way, the country saw unprecedented growth. Much infrastructure was built and more and more investors came to the country. The Filipinos’ spending power also increased, enabling them to invest in properties and of course, spend money on leisure activities as well. The increase in the economy also brought about outsourcing offices. All of these prove that the rise in the economy is greatly interrelated with the real-estate industry.
An article from My Property PH gives us a peek into the developments that Filipinos should expect in the year 2016.
Ayala Land
Last year, Ayala Land reportedly spent up to P90 billion to make way for better projects in 2016 in line with their six-year plan. Ayala Land chief finance officer, Jaime Ysmael, recently announced that this year will see the launch of new malls, hotels and even offices as the company’s main focus shifts from ownership to leasing income. It plans to extend its portfolio in places such as Cagayan De Oro, Bacolod, Makati, Quezon City, Cebu and Nuvali.
Ayala is also the top bidder for the new Integrated Transport System- South project which will be built near the Manila-Cavite Expressway which begins this August.
Megaworld
Megaworld announced last year that they will launch more projects in 2016, including its newest integrated, master-planned townships in Iloilo, Bacolod and San Fernando. They recently started building their new shopping center in Iloilo called the Festive Walk Mall situated in the Iloilo Business Park. It is expected to become the longest avenue for shopping, dining and leisure when it is completed late this year. Southwoods Mall of Southwoods City, Laguna, is also set to open this year.
Robinsons Land
Robinson’s Land recorded a higher income in 2015 than in al the other years and their capital expenditure of P17 billion has been spent on malls, office buildings and hotels, while 25 percent will later be invested in residential units. They have also set aside funds for land acquisition.
Robinson’s Land is targeting to open 10 new malls in areas outside of Metro Manila by 2017. It aims to open five malls in Cebu City, Iligan City, Tagum City in Davao Del Norte and General Trias.
With these developments, truly the best is yet to come.