The PropertyGuru Awards returns this year amidst a period of economic growth after its milestone 10th edition last year.
With the period of economic growth and a rise from the adversaries posed by the pandemic these past two years or so, the 11th PropertyGuru Philippines Property Awards 2023, presented by Kohler and supported by Boysen Paints, are now calling for submissions to the open categories and rank the entries among the Philippines’ best.
PropertyGuru Asia Property Awards and Events General Manager Jules Kay said that the Philippines remains a strong and innovative property market and a key container in the PropertyGuru Asia PropertyAwards regional series.
“Developers here truly value quality, and being recognized for their commitment to quality, which always means a large, diverse pool of entries for our awards programme, which in turn creates healthy competition. We’re excited to what’s from the Philippines as developers move ahead with highly anticipated projects across Luzon, Visayas, and Mindanao,” Kay said.
Chairperson of the judges of the Awards in the Philippines and president of TAJARA Leisure and Hospitality Group Inc. Cyndy Tan Jarabata also said that their judging process has evolved with the ever-changing built environment, along with the quality of entries that has “also been upgraded over the years.”
“These honors are the results of a shortlisting process involving hundreds of entries and extensive site inspections in search of the finest property developers, design practices, and developments in the Philippines,” Jarabata said. The PropertyGuru Philippines Property Awards has already expanded from just over 20 categories to over 60 winning titles, judged by a diverse set of experts.
An optmistic market
With the rising consumer spending in the country, the reinstated tourism industry, and the boost in the acitivity in MSMEs, the country has recorded last year its fastest rate of economic growth since 1976—thus making PropertyGuru bullish in transitioning to a post-pandemic management and evolving along investor sentiments.
Colliers Philippines Managing Director Richard Raymundo also said that this is a “positive signal for the property market which mirrored the boom-bust cycle of the country’s economic output.”
According to Raymundo, the personal consumption-led economic growth can also spur retail and hotel demand—an opportunity for PropertyGuru to welcome more growth.
“This economic expansion should support positive net take-up of office space in 2023 and continued rebound in Metro Manila’s pre-selling and secondary residential markets. An aggressive stance taken by the national government in attracting manufacturing investments should result in greater absorption of industrial space across the country,” Raymundo said.
With more certainty in the market, property seekers will be incentivized to purchase properties. This overall positive report shows that the country is well on its way to economic recovery and job creation, research shows by the Property Report by PropertyGuru.
About PropertyGuru Asia Property Awards
Established in 2005, the PropertyGuru Asia Property Awards continue to reward high-calibre work within the industry, encompassing property development, construction, architecture, interior design, and sustainable building practices. The series has expanded over the years to cover the region’s dynamic property markets, including Australia, the Chinese markets, Greater Niseko in Japan, and India.
Nominations and entries are being accepted online until 14 July 2023: asiapropertyawards.com/nominations, while the black-tie gala celebration will take place at the main ballroom of the Fairmont Makati hotel on Friday, 29 September 2023.
Eligible entries are rigorously selected by the independent panel of judges, comprising experts in diverse fields such as real estate consultancy, architecture and interior design, and sustainable development.