Over 80 awards await local real estate firms as the market responds to shifting demands
To answer rising public demand for faster, reliable, safe, and efficient mass transportation, the Department of Transportation (DOTr) has embarked on several projects to soon provide commuters with better infrastructure for mass and active transport.
With connectivity an important factor for national development, many areas in and around Manila stand to benefit from projects such as the LRT-1 Extension (Manila to Cavite), LRT-2 East Extension (Santolan to Masinag), and the PNR Clark Phase 1 (Tutuban to Malolos).
The development of Metro Manila railway systems coincides with the launch of the EDSA Greenways Project — an infrastructure plan to establish walking nodes at different rail stations within the city. Outside the capital, commuter-friendly initiatives are also well underway with Bus Rapid Transit being de-veloped in Cebu and the modernization of public transport in Davao.
Property developers have taken notice of the national push for improving the commuter experience through robust infrastructure development. As a result, many names across the industry have launched real estate projects both in Manila as well as its neighboring cities and regions.
In terms of the residential market, there has been a growing demand for the acquisition of property outside Metro Manila. According to the Philippine Statistics Authority (PSA), residential related construction grew by 102.8 percent in the third quarter of last year. Developments in CALABARZON (Cavite, Laguna, Batangas, Rizal, Quezon) accounted for 25.5 percent of the total in that period.
While COVID-19 was a factor, the shift in demand can also be attributed to the completion of tollways and the development of transport infrastructure to improve connectivity between Metro Manila and key areas in Northern and Southern Luzon.
“Improved transport infrastructure enables connectivity and safe mobility. It also affects access to health, education, and economic opportunities,” said Eric Mangosing, CEO, Metro Development Managers Inc., and Judge, PropertyGuru Philippines Property Awards. “As developers continue to set their sights outside of Metro Manila, the market demands are clear: people want to live where it’s easy to travel to the places they need to go. For that reason alone, developers who have long seen the shift toward connected developments must be recognized and celebrated,” he added.
Presented by Kohler, the 10th edition of the prestigious PropertyGuru Philippines Property Awards has expanded with new awards categories – Best Connectivity Condo Development, and Best Connectivity Housing Development.
In line with their commitment to recognize the finest in Philippine real estate, alongside the connectivity awards, new titles up for grabs include:
• Best Completed Housing Development
• Best Waterfront Condo Development
• Best Waterfront Housing Development
• Best Branded Residential Development
• Best Integrated WFH (Work From Home) Development
• Best Pet-Friendly Residential Development
• Best Health and Wellness Development
• Best Eco-Friendly Condo Development
• Best Eco-Friendly Housing Development
• Best Eco-Friendly Commercial Development
• Best Smart Building Development
As the industry recognizes how improved connectivity can address perennial problems of traffic and congestion in the country, these new categories reflect the changing needs of the local housing market and celebrate industry leaders who have answered the call to provide homeowners with extraordinary, connected, luxurious, and sustainably built residences.
True to PropertyGuru’s unparalleled reputation for fairness and transparency, eligible entries are selected by an independent panel of judges comprising experts in real estate consultancy, architecture design, and sustainable development.
Nominations for the 10th PropertyGuru Philippines Property Awards are being accepted online. The deadline for entries is on August 5, 2022.
