‘Major transport infrastructure projects have unlocked values in contiguous plots of developable land and catalyzed the rise of master-planned projects.’
The center of growth and development in the Philippines is expanding towards Visayas and Mindanao, driven by the rise of industries and real estate markets in these regions, according to developers recognized by the PropertyGuru Philippines Property Awards.
Top developers, distinguished for their contributions to Visayas and Mindanao, are offering an optimistic outlook for the progressive island groups ahead of the celebration of the 12th PropertyGuruPhilippines Property Awards 2024
Major transport infrastructure projects have unlocked values in contiguous plots of developable land and catalyzed the rise of master-planned projects beyond the nation’s capital.
“With a growing market for upscale homes, resort living, and branded residences, as well as notable improvements in infrastructure, the regions of Visayas and Mindanao are increasingly asserting themselves as growth hubs beyond the confines of Luzon and Metro Manila. The tourism sector in Visayas and Mindanao has witnessed significant expansion, facilitated by the advent of key transportation infrastructure projects such as the Mactan-Cebu International Airport, Cebu—Cordova Link Expressway, and Davao City Coastal Bypass Road. These initiatives not only enhance accessibility for local travelers but also cater to international tourists, thereby augmenting the regions’ overall value proposition,” said Cyndy Tan Jarabata, chairperson of the PropertyGuru Philippines Property Awards and president of TAJARA Leisure & Hospitality Group Inc.
Amid economic recovery, developers have demonstrated their commitment to diversifying progress by building more high-quality homes, commercial spaces, and industrial projects across the archipelago. The PropertyGuru Philippines Property Awards have recognised these efforts with many prestigious accolades for projects in secondary cities, provincial capitals, and emerging property markets such as Cebu, Davao, Batangas, Bacolod, and Iloilo.
Aboitiz InfraCapital Economic Estates, winner of the Best Industrial Developer (Asia) title at the 18th PropertyGuru Asia Property Awards Grand Final and the Best Industrial Developer title at the 11th PropertyGuru Philippines Property Awards, is one of the acclaimed enterprises expressing confidence in the growth potential of property markets beyond the national capital.
Cyel Auza, vice president for Cebu Operations, Aboitiz InfraCapitalEconomic Estates, said: “We’re seeing tremendous interest and uptake in our industrial spaces, particularly in MEZ2 Estate and West Cebu Estate, making Cebu one of the preferred locations for foreign investors and local companies expanding in the Visayas. This strong demand reflects Cebu’s burgeoning reputation as a manufacturing and logistics hub, further amplified by the very limited industrial inventory in the region.”
West Cebu Estate, winner of the Best Industrial Development (Asia) title at the 18th PropertyGuru Asia Property Awards Grand Final and the Best Industrial Development title at the 11th PropertyGuruPhilippines Property Awards, has especially witnessed incredible growth.
Once primarily known for shipbuilding, West Cebu Estate now attracts diverse industries like manufacturing and logistics, demonstrating the award-winning estate’s versatility and ability to cater to evolving market needs.
Auza added: “We’re confident that Cebu’s industrial sector will continue to thrive, driven by its strategic location, ready inventory for industrial spaces, skilled workforce, and supportive business environment. At Aboitiz InfraCapital, we are committed to providing world-class industrial estates that empower businesses to succeed and contribute to the region’s economic progress.”
Aboitiz InfraCapital Economic Estates also won the Best Mixed Use Development award for LIMA Central Business District at the 11thPropertyGuru Philippines Property Awards, with LIMA Estate itself winning the Best Green Development award. Aboitiz Land, Inc. won the prestigious Best”¯Housing Development”¯(Philippines) award for Seafront Residences, in addition to titles for the projects Ajoya Cabanatuan and The Villages at Lipa.
Cebu Landmasters Inc. (CLI), winner of the Best Developer (Mindanao)title at the 11th PropertyGuru Philippines Property Awards, also noted an increasingly receptive property market outside the nation’s capital.
Jose Franco Soberano, senior executive vice president and chief operating officer of CLI, said: “All projects launched by Cebu Landmasters in Cebu and Davao were sold out within weeks from market introduction. This makes us bullish about the property markets not only in these cities but also in the 16 key cities in VisMin where CLI is present. The Vismin market continues to be characterized by sustained demand amidst lacking supply.”
CLI is behind celebrated projects such as Casa Mira Towers Bacolod, winner of the Best Condo Development (Visayas) award, and Casa Mira Iloilo, winner of the Best Housing Development (Visayas) award at the 11th PropertyGuru Philippines Property Awards. The developer additionally won Best Housing Development (Metro Cebu) for Casa Mira Homes Danao.
The developer is also driving progress in Bohol with Costa Mira Beachtown Panglao, winner of the Best Waterfront Condo Development award, and Davao with DGT City Center, winner of the Best Retail Architectural Design award.
Jose Soberano III, chairman, president, and chief executive officer of CLI, was honored as the Philippines Real Estate Personality of the Year for achievements that include leading the expansion of the homegrown Cebu developer.
