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May 4, 2018

Federal Land expands into San Juan

Federal Land, Inc. is expanding in San Juan City with the development of a residential condominium, One Wilson Square.
“San Juan City persistently strives to attain progress and we’re glad to be part of that. We are inspired to work with emerging cities that care for its people and its communities,” Federal Land President Pascual M. Garcia was quoted as saying in a statement. One Wilson Square offers condominium units with private balconies. The tower’s top floors have as little as four units with at least 55-square meter decks. Located at the corner of Ortigas Avenue and Wilson Street, residents of One Wilson Square will be near Greenhills Shopping Center, as well as schools and offices. “Residents have route options to avoid traffic when heading to the areas of Quezon City, Manila, Mandaluyong, Makati and Pasig. Infrastructure developments underway such as the BGC-Ortigas Bridge will likewise make the property and the city more accessible,” Federal Land said.
(Source: Business World, 03 April 2018)


The infrastructure projects that the government has lined up should ease traffic across Metro Manila and further raise the viability of residential projects in key locations the country’s capital. Aside from the BGC-Ortigas bridge other projects that we believe will benefit Metro Manila developers are the Metro Manila subway, Bus Rapid Transit (BRT) system, and MRT 3 rehabilitation.  Colliers believes that the demand for condominium units in the country’s capital will be sustained by starting families and Chinese investors. We believe that location remains crucial in sustaining viable returns for buyers and owners in a market where massive supply exists. Projects in primary business districts and those in easily accessible surrounding fringe areas will be the best investments.

Philippine Shopping Mall Giant to Build Nation’s First Ikea Store


SM Prime Holdings Inc., the largest Philippine shopping mall developer, will build Ikea’s first store in the country within its retail complex, with plans for similar arrangement with the Swedish furniture company at its other properties. The store will be built within SM Prime’s Mall of Asia complex in Manila, located between its convention center and sports arena, Alex Pomento, vice president at the Philippine mall builder, said by phone. Ikea will lease the property for the long-term, he said. “While we don’t have exclusivity, there are talks to have similar arrangements for our properties in other parts of the Philippines," Pomento said. “Ikea is a unique retailer and it’s the kind of global brands we want to locate in our properties."
(Source: Bloomberg, 06 April 2018)
Details about Swedish furniture giant IKEA’s initial foray into the Philippine market are becoming more concrete. The company’s first store in Metro Manila will be built within the next three years. Bloomberg reported that IKEA’s fist outlet in the country will be within the Mall of Asian complex. It is envisioned as IKEA’s largest in the world. At present, IKEA’s biggest outlet is in South Korea spanning more than 60,000 sq m (646,000 sq ft). The Swedish firm said it is planning to build four to six branches over the next five to ten years. Outside of Manila, IKEA is looking at Cebu, Cagayan de Oro, Iloilo, and Baguio as potential expansion sites. IKEA is famous for furnishing small residential unit and is just apt for Metro Manila residential market as an estimated 70% of condominium units being completed are either studio or one-bedroom units with sizes ranging between 20 and 45 sq m.


Lazada ahead in PH e-commerce market

The e-commerce market has continued to spur growth in the local scene, with online marketplace Lazada leading the game last year. According to a report of Malaysia-based iPrice Group, the local e-commerce market remained its strong momentum last year amid the increasing internet and smartphone penetration in the country. The industry amassed 34 million users in 2017, it said. For the last quarter of 2017, Lazada defeated other e-commerce players, posting 25 percent growth to 82.9 million monthly visits online. This was “10 times bigger” than its “strongest competitor” mobile shopping platform Shopee, which only recorded 8.57 million monthly visits. Shopee beat fashion e-commerce player Zalora in the same period.
(Source: The Manila Times, 08 April 2018)
Retailers are banking on Filipinos’ growing preference for online shopping. Euromonitor International expects online sales in the Philippines to grow faster than store-based retailing over the next few years. This is fueled by millennials owning more than two phones, which expands smartphone penetration across the country. SM Prime is launching an online platform that will allow customers to purchase items online but pick up the merchandise from SM’s physical stores. Convenience store chain 7-Eleven has also been aggressive in ramping up its online presence. The firm now allows customers to order online and pick up items in the nearest 7-Eleven branch. The company’s rewards system lures more consumers to use it Cliqqshop online selling platform. This “click and collect” strategy maximizes retailers' online presence but also drives consumer traffic to brick-and-mortar outlets.



Colliers International | Manila 11F Frabelle Business Center, 111 Rada Street Legaspi Village, Makati City 1229 Philippines | Tel: +632 8 888 9988