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Makati City 1229 Philippines 
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Cebu City, 6000 Philippines
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June 29, 2018

Property giant expects P1-B sales from shophouse lots in Capital Town

NEWS

Property giant Megaworld has sold around 70 percent of its Shophouse District in its Capital Town development in the City of San Fernando, Pampanga.
The 6.3-hectare Shophouse District, composed of 98 lots ranging from 276 square meters to 680 square meters, allows lot owners to build their own three-level shophouse in neoclassical and art deco architecture. They can use the ground and second levels of the shophouse for commercial purposes while the third level may be used as business owner’s residence.


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RESEARCH VIEW

Megaworld is among the national developers that will benefit from the improvement of Pampanga’s infrastructure backbone. Similar to Metro Manila and Cebu, the upgrading of Metro Clark’s infrastructure should result in more businesses in the area, hence the need to develop township projects that integrate the live-work-play lifestyle. As we see a more robust development of these integrated communities in the near to medium term, developers need to differentiate their offering to remain relevant and responsive to locators’ and investors’ needs.


Clark’s Widus Hotel and Casino plans $500M expansion

NEWS

The Widus Hotel and Casino Clark in the Philippines is set to undergo a $500-million expansion, according to reports. The upgrade is above and beyond a five-star hotel expected to be completed this September. Following the expansion, the resort will have received a total investment of over $1 billion since it originally opened.

Widus is operated by Widus Philippines Inc., a subsidiary of Widus International Leisure Inc. (WIL), and opened 12 years ago after an initial $4-milllion investment by the company. The resort, located in part of the Clark Freeport Zone (CFZ), currently offers a 48,437-square-foot casino with 54 gaming tables and 342 slots. Additionally, until the completion of the new hotel, around 233 hotel rooms are available at the resort.


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RESEARCH VIEW

The Clark Airport Modernisation project is projected to raise the facility’s capacity to 12 million from 4 million passengers annually. In 2017 alone, the airport welcomed 1.5 million local and foreign guests, up by almost 60% from 950,000 visitors in 2016. The modernised airport should attract more direct flights from Asian and Middle Eastern countries and this should result in greater foreign arrivals in Clark. We recommend that developers cash in on this opportunity by building more three to four-star hotels particularly as these facilities mainly cater to Japanese, Chinese, Korean, and Taiwanese tourists, who are the major visitors to the Philippines. Colliers also encourages developers to complement their hotels with MICE facilities as the area is becoming a popular choice for major international events. In 2017, Clark hosted a number of meetings during the Association of Southeast Asian Nations (ASEAN) Summit. Included in Angeles City government’s tourism development plans is the construction of a convention centre through a public-private partnership. This is one MICE opportunity that local and private developers should consider tapping.

Cebu puts Philippines in the real-estate sustainability map

NEWS

The real-estate gathering recently in Cebu, which I had moderated, was very personal to me on so many levels. 

First, Cebu province is one of my veritable homes in the Visayas region. I am proud to have done a suroy-suroy from Bogo to Santander in search of the mythical Sigbin. I have spent one night alone in the then-unknown Sumilon in Oslob now a known luxury destination, the place where I learned how to dive and embrace the water despite the fact that I didn’t know how to swim. Never had there been any place where you could go to the beach or enjoy mountain weather and attend a meeting, all in one day.

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RESEARCH VIEW

Over the past few years, we have 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 national 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.

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