Property developers shore up land bank

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Aya Lowe

www.rappler.com

25 January 2013

http://www.rappler.com/business/20428-manila-developers-need-to-shore-up-land-bank-cbre

MANILA, Philippines – As demand for real estate assets continues to grow and developments flourish, Manila developers will soon face a dwindling supply of land.

“Some of the developers’ problems are not [about] projects to launch but sites to develop. We will need more land to develop in Metro Manila for these new projects,” said Victor Ascuncion, CBRE Philippines executive director, speaking at a press briefing on Wednesday, January 23.

Rick Santos, CBRE Philippines founder, echoed this sentiment, saying “Some of the large players have large land banks, but for some of the less established players, it’s crucial they enhance their land bank as you have a competitive advantage.”

According to Santos, a lot of developers are looking north of Manila, toward the Clark area, as well as down south, toward Metro Cebu, Metro Davao and Cagayan De Oro.

Santos said there is now a trend of developers building on reclaimed land in Manila and Cebu. “The reclaimed land with the advent of gaming that land is getting picked up. Reclaimed land in Cebu is getting picked up,” he said.

This comes as the Philippine residential real estate industry experiences a “democratization” leading to an increase in demand for affordable units in high-rise residential condominiums.

“The Philippines is experiencing democratization in the housing sector—from a nation of renters to owners—based on low interest rates and financing schemes,” said Santos.

However, infrastructure connecting new developments is also an issue. “A lot of it comes down to infrastructure. There is still a lot of land but it’s just a matter of having the infrastructure to get there,” said Santos.

Energizer Philippines

Dear Rick,

I’d like to thank you and your team – Joey Radovan and Morgan Mcgilvray in particular, for the assistance given to us during our recent Office Relocation process.
They were very well organized and helpful:

– Our site visits were conducted in a very timely manner and my management committee received clear and useful guidance on various aspects related to site selection –from what to look for in terms of building services, location, etc., as well as guidance on the discussion etiquette they should observe in order to safeguard the confidentiality of issues that could be valuable at the time of final selection and negotiation of the site.

– Both assisted us in the selection of the Office Design and Construction supplier; they were present in all the presentations and gave us objective feedback and opinions that helped my team feel more educated and confident about the decisions they were making.

– We also received guidance with various topics that arouse secondary to our office relocation, such as off-site document storage options just to name one example.

– They continued their liaison and support with the landlord and constructors throughout the process of negotiating and signing the lease, as well as during a very tight construction and relocation schedule during which a lot little (important) issues arise that must be solved swiftly in order to keep the deadlines.

The above is by no means a comprehensive list, and I’d like to extend our thanks to your team who supported Joey and Morgan in giving us such excellent service.

We are now pretty much settled in without any business interruption and with our colleagues quite happy about our new office and location; do come to visit us when you get a chance!

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