Real estate demand to stay robust next year

Share

By Franz Jonathan F. dela Fuente

Business World

November 20, 2012

http://www.bworldonline.com/content.php?section=Economy&title=Real-estate-demand-to-stay-robust-next-year&id=61717

SUPPLY AND DEMAND levels for the country’s residential and office sectors are expected to continue to grow next year on the back of a bullish local investment climate, particularly in the growing BPO (business process outsourcing) sector, local real estate services firm CB Richard Ellis Philippines, Inc. (CBRE Philippines) said yesterday.

“We are now experiencing the best real estate market in the last 20 years. Suffice it to say that if you build it, they [the buyers]will come — be it office, residential, or leisure properties,” Rick M. Santos, CBRE Philippines chairman and chief executive, said during the firm’s year-end briefing at the Makati Shangri-La yesterday.Optimism in the local property sector is being driven by the numerous investments coming in as a result of an attractive business climate.

“The confidence in the Philippines from an investment standpoint is very high, and will pervade in 2013. The Philippine real estate sector will have bright prospects in 2013,” Mr. Santos said.

Joey M. Radovan, CBRE Philippines global corporate services vice-chairman, said that the office market, for one, continued to enjoy robust pre-leasing commitments across major locations, with demand coming from BPOs.

Earlier this year, CBRE Philippines noted that pre-leasing activity, defined as initial payments between tenant and landlord prior to the payment of actual rent, was beginning to grow to pre-Asian Crisis levels due to the economy’s stability.

CBRE Philippines identified Quezon City, particularly Eastwood City and the UP-Ayala Land TechnoHub, as the next emerging office growth district in Metro Manila.

“The office sector will continue to perform well in Asia Pacific as it is one of the most cost-effective outsourcing destinations in the region. The country provides a conducive environment for foreign investors,” Mr. Santos explained.

An optimistic outlook is also seen for residential sector: “While demand for the high-end market will be sustained in 2013, developers will focus more on mid-income residential market segment within the P45,000- to P80,000-square meter range, reflecting the demand created from the growing population of families and young professionals,” CBRE Philippines said in its statement.

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!

For inquiries, fill up the form below.

Name

Email Address

Subject

Message

For inquiries, fill up the form below.

Name

Email Address

Subject

Message

For inquiries, fill up the form below.

Name

Email Address

Subject

Message

We would like to hear from you on how we can serve you better. Please fill out the form below and we will get back to you as soon as we can.

Name

Email Address

Subject

Message

Captcha

CAPTCHA code

Share