The property and real estate sector sees a big shift of development going to secondary cities led by Davao in the next six years, according to consultancy company CBRE Philippines.
CBRE Philippines said much of the focus now was on Mindanao especially Davao City where landowners with vast landholdings on growth areas recently expressed interest to develop their properties.
“Developments in the secondary sites were initially limited to local developers. Over the past several years, the national developers started to enter these sites on a growing scale. This can be seen as a positive situation as this encourages local developers to step up in terms of putting up better quality buildings and structures,” CBRE chairman and chief executive Rick Santos said in a news briefing Thursday in Makati City.
CBRE identified other top secondary sites such as Laguna, Cavite, Bulacan, Pampanga, Cebu, Bacolod, Iloilo, Davao, Cagayan de Oro and Zamboanga.
