Philippine Property Market Continues to Evolve with Rise of Integrated Communities
The Philippine property market is undergoing continuous changes, particularly with the development of satellite communities catering to residential, office space, and retail needs in various markets. These integrated communities are not only found in central business districts (CBDs) but also in fringe locations.
According to Colliers, the growth of townships in the outskirts of CBDs is mainly due to the limited available land in primary business hubs and the increasing land values. Developers are advised to explore mixed-use projects in fringe areas to meet the demand for masterplanned communities.
Developers are now focusing on satellite communities that promote a live-work-play lifestyle. For example, Megaworld has established Newport City in Pasay City, featuring condominium towers, hotels, and a casino complex.
The demand for integrated communities is not limited to Metro Manila, as other regions outside the capital are also experiencing significant growth. Regions like Central Luzon, Southern Luzon, Central Visayas, Western Visayas, Northern Mindanao, and Davao are witnessing increased interest in township developments due to improving infrastructure.
Central and Southern Luzon, known as major industrial hubs, are attracting local and foreign manufacturing companies. Developers are actively offering industrial and commercial lots in these regions, complemented by office and residential projects. Major developers like Megaworld, Federal Land, Rockwell Land, Vista Land, and SM Prime are leading the way with massive townships in these areas.
In Visayas, developers like Megaworld, Ayala Land, and Rockwell are capitalizing on the demand for mixed-use communities in cities like Cebu, Bacolod, and Iloilo. Similarly, Mindanao, particularly in Cagayan de Oro and Davao, is seeing a rise in masterplanned projects by firms like Megaworld, Pueblo de Oro, and Ayala Land.
Residents and investors continue to prioritize accessibility, convenience, and connectivity when choosing residential projects. The trend towards integrated communities is expected to grow further, with developers urged to enhance amenities and facilities to meet evolving buyer preferences.
The demand for masterplanned and integrated communities remains high across the Philippines, prompting developers to adopt the township mindset in their projects. With the government’s commitment to infrastructure development and economic growth in various regions, integrated townships are expected to maintain their popularity in the coming years.
