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Makati City 1229 Philippines 
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Cebu City, 6000 Philippines
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August 31, 2018

Primary launches Richwood Negros

NEWS

Just three months after its launching in Bohol, Primary Homes recently launched Richwood Homes Negros in Isugan, Bacong, Negros Oriental just 10 minutes away from Dumaguete City.

As the third leg among its projects around the Visayas region, Primary Homes not only promises quality following its tagline "Tatak primary, Tatak Quality" but also guarantees Three As which are: Astounding Community; Affordable Home; and Accessible Location.

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RESEARCH VIEW

Both national and local developers have been active in addressing the rising demand for residential projects in major urban areas in Luzon (ex-Metro Manila), Visayas, and Mindanao. The improvement of road networks and expansion of airports should further unlock land values in these areas, making them more feasible for residential projects.  The demand for residential units in these locations will continuously grow as we believe that a significant part of the remittances sent in by OFWs annually will be set aside for Filipinos’ housing requirements.

We expect developers to continue venturing into residential projects in second-tier and third-tier cities all over the country, where demand comes from end-user buyers. The markets may be smaller compared to Manila but more stable in terms of end user housing demand.

SEDA AYALA CENTER CEBU SET TO OPEN 3RD QUARTER

NEWS

Ayala Land’s hotel brand Seda is set to open its biggest property in the Visayas in the third quarter of 2018. In the heart of Cebu City’s financial district, Seda Ayala Center Cebu will offer 301 guest rooms along with world-class amenities and service that draws from genuine Filipino Hospitality.

Seda Ayala Center Cebu will be the ninth property of the homegrown chain. It is present in key destinations around the country, namely: Bacolod, Cagayan de Oro, Davao, IloIlo, Laguna, Palawan, Quezon City and Taguig.

RESEARCH VIEW

Colliers believes that aside from the influx of local and foreign tourists, the demand for more leisure investments such as hotels and serviced residences should be fuelled by Cebu’s thriving outsourcing and industrial sectors. Medical tourism is another bright spot for the island-province's hospitality segment. Colliers sees tourism becoming a major plank of Metro Cebu’s economy moving forward. We expect the sector’s growth spilling over to other sectors such as retail. Aside from developing leisure estates, Colliers believes that local and national developers can capture opportunities in the booming Cebu tourism sector by implementing the following:
- Bringing in more foreign brands;
- Building more hotels along the nodes of new road infrastructure projects;
- Improvement of loyalty programs;
- Expansion of meetings, incentives, conferences, and exhibitions (MICE) facilities; and
- Integrating health and retirement facilities.
Colliers believes that Cebu has the potential to be at par with neighbouring destinations such as Bali and Phuket in terms of hotel and resort development. At present, Cebu has only a fifth of Bali’s and Phuket’s room count. But we see Cebu becoming a major leisure investment destination in the region given its improving infrastructure backbone and sustainability of traditional demand drivers such as outsourcing and industrial operations. 

CLI to develop P3.6-B mixed-use project in Cebu

NEWS

Cebu Landmasters, Inc. (CLI) has unveiled a P3.6-billion mixed-use project in Cebu which will include a mall, office spaces, residential units, and a hospitality component.
In a statement issued Thursday, the listed property developer said it will develop the two-tower Astra Centre on a 1.2-hectare lot on A.S. Fortuna St. in Mandaue City. The project looks to take advantage of the lack of integrated developments in the area.

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RESEARCH VIEW

Over the past few years, Colliers has observed the transformation of Cebu’s skyline with large-scale residential, commercial, retail, and hotel developments. The property boom in Cebu offers an alternative metropolitan-paced business lifestyle at a discount to Metro Manila. Its real estate sector is particularly unique as it is actively participated in by both local and national developers.

The entry and aggressive expansion of national developers have redefined the Cebu property landscape. To survive in a fiercely competitive real estate market, Colliers recommends that developers implement the following: develop mixed-use communities; differentiate integrated projects; expand presence into hospitality and industrial sectors; partner with local developers;maximize brand equity; and acquire reclaimed land.

In 2010, Cebu Landmasters developed its first vertical project, Asia Premier Residences, at Cebu I.T. Park. The homegrown developer was initially into horizontal residential projects but its first foray into vertical development recorded brisk take up as it banked on the quality and strong sales of its previous horizontal projects in Talisay and Minglanilla. Cebu Landmasters has since launched a mix of vertical and horizontal residential projects. The company is also into office, hotel, and industrial space development.



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Colliers International | Manila 11F Frabelle Business Center, 111 Rada Street Legaspi Village, Makati City 1229 Philippines | Tel: +632 888 9988