Despite the strong demand office space in Metro Manila, newly completed developments coming online this year will keep the vacancy levels at a healthy rate above 5 percent, a real estate consultancy said. The vacancy rates in the Metro Manila office market would rise to healthier levels this year, as…
THE Ayala Malls Group, the retail arm of Ayala Land Inc., opened its newest mall, the P2.5-billion Ayala Malls The 30th, on Thursday to cater to the Ortigas business community. Ayala Malls The 30th is the company’s first commercial development near the Ortigas business district in Pasig City and is…
The Home Development Mutual Fund or Pag-IBIG has shortened the time it takes to process housing loan applications, in line with the government’s thrust to cut red tape. In a statement on Wednesday, Pag-IBIG said housing loan applications can now be approved within 17 days from the date when a…
PROPERTY giant Megaworld Corporation is set to open four new hotels this year in anticipation of strong growth in the tourism sector. In a disclosure to the Philippine Stock Exchange on Wednesday, Megaworld said the four new hotels will add a total of 1,662 new rooms to its hotel portfolio.…
RETAIL rents in the country remain affordable compared to others in the region and this should attract more international brands into the country, further fueling the growth of the local retail property market this year, a property analyst said. In an interview on Tuesday, Jones Lang LaSalle Philippines (JLL) regional…
MORE leisure-oriented condominium developments are expected to rise in Cebu in the medium term, mainly driven by its growing tourism sector, real estate services firm Colliers International Philippines said. In a statement on Monday, Colliers said it has observed a steady increase in residential developments in Cebu that cater to…
A large chunk of office space coming online has been pre-committed, according to property analysts, saying the office market is forecast to remain the top performing property sector this year. “My outlook for 2017 is that the office market will continue to be good because 40 percent of all the…
GLOBAL flexible workspace provider Regus plans to put up workstations in airports in the Philippines to meet growing demand for workspace. In an interview on Friday, Regus Philippines country manager Lars Wittig told reporters that workstations in airports are among the types of flexible workspaces that Regus offers globally. “We’re…
Property giant Megaworld Corporation is launching additional units in its high-end Iloilo residential project in response to strong market demand, the company said in a statement over the weekend. Megaworld said it is adding 155 units to its St. Honore project with the launch of the South Wing of the…
THE provincial retail property market is facing an oversupply of malls mainly due to the lack of spending power in some areas, a real estate consultant said. Leechiu Property Consultants (LPC) chief executive officer David Leechiu told The Manila Times in a recent interview that the country’s property sector had…