The Philippine economy encountered significant challenges in 2024, potentially causing it to miss its economic growth target due to a series of typhoons and other calamities that struck the country last year.
However, it is reassuring to know that Finance Secretary Ralph Recto and the country’s economic managers remain optimistic about the country’s economic prospects. He believes that we will rebound strongly in 2025, with Gross Domestic Product (GDP) growth expected to exceed six percent, driven by robust domestic demand and public investment.
The World Bank (WB), the International Monetary Fund (IMF), and other economic analysts also share this positive outlook, projecting accelerated growth for the Philippines in 2025 and 2026. In its East Asia and Pacific Economic Update, the World Bank has highlighted the country’s favorable medium-term prospect, revising its growth projection for 2025 upward to 6.1 percent from the previous 5.9 percent.
“The medium-term outlook remains favorable, averaging 6.0 percent in 2024-26. Strong growth will be driven by robust domestic demand, benefiting from more accommodating monetary policy, and sustained public investment,” the World Bank stated.
Zeroing in on the property sector, global real estate services firm Colliers remained optimistic that sustained macroeconomic growth and implementation of sound economic policies are likely to support the sector’s faster pace of recovery.
It said the Philippine property market in 2025 presents vast opportunities for developers and investors to capitalize on emerging trends and growth prospects across various sectors.
Meanwhile, leading online real estate platform Lamudi described the market as “promising,” highlighting several key trends and opportunities for buyers and investors. One notable trend is the growing interest in emerging property hotspots outside Metro Manila.
“Homebuyers and real estate investors are showing interest in emerging property hotspots outside Metro Manila, such as Bulacan, Pampanga, Antipolo, Laguna, and Tacloban. These areas offer unique opportunities for sustainable development and have shown promising growth prospects,” Lamudi said.
“This trend aligns with 2Q2024 data which shows that 30.1% of residential real estate loans (RRELs) granted were from the CALABARZON region,” it added.
At Italpinas Development Corporation (IDC), we are looking at 2025 with great optimism. We plan to build on the gains we achieved last year by continuing to maintain our focus on emerging markets. Our strategy includes forging new partnerships and continuing our commitment to sustainable and innovative development practices. Our focus will be on strengthening our existing projects and exploring new opportunities that align with our vision of creating eco-friendly and resilient communities.
I can say that we ended 2024 on a high note. Let me share with you some of last year’s milestones as IDC marked its 15th anniversary. Through our subsidiary IDC Prime, we have entered an unincorporated joint venture agreement (JVA) with the Go family from Cagayan de Oro to develop their 1.5-hectare property in Dahilayan, Manolo Fortich, Bukidnon, which we will name “Moena Mountain Estate.”
Our subsidiary likewise entered a similar JVA with the owners of a two-hectare lot in Puerto Princesa, Palawan, to develop a mixed-use condominium project to be called “Riviera Puerto” at a cost of P2.81 billion.
And in the third quarter of 2024, IDC Prime secured a development loan of Php630 Million from the Bank of the Philippine Islands (BPI) for the development of Primavera City Phase III (Citta’ Grande).
We wrapped up the year with a partnership with Thailand’s Dusit International through a JV that will transform the hospitality landscape of Northern Mindanao and will further enhance our presence in emerging locations. The Dusit Princess Moena and Dusit Princess Firenze hotels will be standout features in IDC’s Moena Mountain Estate and Firenze Green Tower projects, respectively.
Both hotels are slated to open by the last quarter of 2029, marking a significant milestone in the region’s hospitality sector.
This strategic collaboration aims to cater to the growing demand for sustainable and luxury accommodations, enhancing the tourism appeal of Mindanao and positioning it as a premier destination for travelers seeking a blend of luxury, comfort, and nature.
In addition to the infused capital from BPI, Italpinas has also secured a significant investment from businessman Benjamin Tan Co. This P188-million investment, which represents a 15% stake in IDC, will enable us to fast-track our expansion plans and venture into new prime areas across the country.
Recognized for his ventures in petrochemicals, steel manufacturing, and other industries, Mr. Co’s reputation in the business community make him an ideal partner for IDC as we continue to grow.
Our projects in Palawan, Bukidnon, and CDO are prime examples of how IDC is ahead of the shift in real estate focus from Metro Manila to peripheral areas. These locations offer unique opportunities for sustainable development and have shown promising growth prospects.
From its inception, IDC’s focus has been on emerging locations outside Metro Manila. This foresaw any pending oversupply in Metro Manila, and places IDC ahead of the curve in future-fluent locations and keen market sensitivity. I am happy to share that we have maintained strong sales and occupancy rates in a large part by targeting underserved, yet dynamic areas with high growth potential.
