A September to remember for Philippine property

It’s truly a September to remember for the country’s property developers.

This year is a rebirth of sorts for the sector as the year — so far – has marked the industry’s evolution after the COVID-19 pandemic.

We’ve seen property developers’ remarkable resilience and adaptability despite the numerous challenges posed by the global pandemic.

And truly, this 2023 is the year that property developers reaped the fruits of their hard work.

As you will see in the succeeding pages, it’s a good month for property companies as different award-giving bodies recognized their efforts.

You will read about the winners of Lamudi’s The Outlook 2023: Philippine Real Estate Awards.

Our writer Franz Embudo said 21 awards were presented at the grand ceremony held recently, as Lamudi recognized the top real estate developers of the country from various segments across the market in a voting process that included the help of 10,000 active seekers.

You will also learn who won in the DoT Property Awards, now in its eighth year. Here, the best and the brightest of the Philippine real estate industry were given accolades for their shared success.

The property website held its awarding process on a per-country basis, with Thailand, Vietnam, and the Philippines each receiving a set of winners, shining a brighter spotlight on each country’s top real estate developers.

May Dedicatoria, meanwhile, wrote about the 11th PropertyGuru Philippines Property Awards, “a celebration that united the industry’s seasoned professionals and its rising stars.”

Congratulations to all the winners. You have all risen to the occasion and your awards are a testament to your hard work. I especially congratulate the hardworking staff, business development teams and sales people of the different companies. Because of all of you, your sector has shown remarkable growth and innovation in the past years.

Below are some of the initiatives embraced by the different developers:

Digital Transformation

One of the most significant changes in the Philippine property industry in 2023 is its use of digital technologies.

The COVID-19 pandemic accelerated the adoption of digital tools and platforms for property sales, rentals, and management.

As many of us are aware, many real estate companies have invested heavily in creating immersive virtual property tours, online transactions.

Sustainable Real Estate

Sustainability has become part of property companies’ business operations on the back of concerns about climate change.

Today, developers are increasingly incorporating eco-friendly features into their projects such as the use of energy-efficient designs, and the use of sustainable materials.

This shift is driven by both market demand for eco-conscious living spaces and government regulations promoting sustainable construction practices.

Affordable Housing Initiatives

The need for affordable housing, meanwhile, remains a pressing issue in the Philippines.

Public-private partnerships have led to the creation of more affordable housing projects, helping to provide housing solutions for low- and middle-income families to address the problem of housing in the Philippines.

A vital pillar

Overall, as the Philippine property industry continues to evolve, it remains a vital pillar of our economy.

The industry continues to provide opportunities for investors, developers, and homeowners alike.

Against this backdrop, I am sure that moving forward, our property players are poised to see an even better landscape in the remainder of the year and in the years to come.