Demand for housing and office space in the Philippines is expected to remain high on the back of impressive economic growth. Despite an increase in new space, property developers expect vacancies in premium residential and office space across business districts to remain scarce. According to Colliers International, demand is so high that even with...
An extraordinary construction boom is transforming the skyline of the national capital, Manila, as well as other provincial cities. What were once rundown neighbourhoods have become chic, and abandoned former US military bases have been transformed into new business districts, catering mainly to the fast-growing outsourcing sector. Work on highways...
A significant driver of growth and an indicator of economic health, construction has long been a key engine of the Philippine economy. Historically led by the private sector, the administration of President Benigno Aquino III has pledged major investment in infrastructure to unleash the potential in tourism, agriculture and industry, address housing...
Underpinned by healthy economic growth, political stability and a growing population, confidence in the Philippine real estate industry is high. Supply is increasing across all sectors: residential, office, retail and hotel. Prices continue to rise fuelled by the growing outsourcing sector, overseas workers using remittances to fund purchases and...
Upon election the administration of President Benigno Aquino III announced it would invite bids worth up to $16.8bn for public-private partnership (PPP) projects over a two-year period, giving a boost to the construction sector. The government sees PPPs as the way to finance infrastructure improvements, providing value for money and efficient...
Though the majority of office stock is currently concentrated across Metro Manila, new growth centres such as Cebu City to the south are becoming increasingly attractive destinations for clients looking for lower rents combined with modern facilities. While the growth in residential properties is being driven by remittances from overseas Filipino...
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