Celebrated Visayas and Mindanao real estate developers lead the charge in national progress

Winners of the PropertyGuru Philippines Property Awards spearhead innovative development nationwide

CEBU, Philippines — The centre of growth and development in the Philippines is expanding towards Visayas and Mindanao, driven by the rise of industries and real estate markets in these regions, according to developers recognised by the PropertyGuru Philippines Property Awards.

Top developers, distinguished for their contributions to Visayas and Mindanao, are offering an optimistic outlook for the progressive island groups ahead of the celebration of the 12th PropertyGuru Philippines Property Awards 2024, presented by Kohler and supported by Boysen Paints and Dongpeng Ceramic.

Buoyant market, fast-growing economy

With an annual GDP growth of 5.6% in 2023, the Philippines has been one of Asia’s fastest-growing economies, buoyed by an improvement in consumer spending, foreign investment, overseas remittances, and international tourist arrivals, among others, according to Property Report by PropertyGuru, the official magazine.

Major transport infrastructure projects have unlocked values in contiguous plots of developable land and catalysed the rise of master-planned projects beyond the nation’s capital.

Cyndy Tan Jarabata, chairperson of the PropertyGuru Philippines Property Awards and president of TAJARA Leisure & Hospitality Group Inc., said: “With a growing market for upscale homes, resort living, and branded residences, as well as notable improvements in infrastructure, the regions of Visayas and Mindanao are increasingly asserting themselves as growth hubs beyond the confines of Luzon and Metro Manila. The tourism sector in Visayas and Mindanao has witnessed significant expansion, facilitated by the advent of key transportation infrastructure projects such as the Mactan-Cebu International Airport, Cebu–Cordova Link Expressway, and Davao City Coastal Bypass Road. These initiatives not only enhance accessibility for local travelers but also cater to international tourists, thereby augmenting the regions’ overall value proposition.”

Amid economic recovery, developers have demonstrated their commitment to diversifying progress by building more high-quality homes, commercial spaces, and industrial projects across the archipelago. The PropertyGuru Philippines Property Awards have recognised these efforts with many prestigious accolades for projects in secondary cities, provincial capitals, and emerging property markets such as Cebu, Davao, Batangas, Bacolod, and Iloilo.

Preferred locations

Aboitiz InfraCapital Economic Estates, winner of the Best Industrial Developer (Asia) title at the 18th PropertyGuru Asia Property Awards Grand Final and the Best Industrial Developer title at the 11th PropertyGuru Philippines Property Awards, is one of the acclaimed enterprises expressing confidence in the growth potential of property markets beyond the national capital.

Cyel Auza, vice president for Cebu Operations, Aboitiz InfraCapital Economic Estates, said: “We’re seeing tremendous interest and uptake in our industrial spaces, particularly in MEZ2 Estate and West Cebu Estate, making Cebu one of the preferred locations for foreign investors and local companies expanding in the Visayas. This strong demand reflects Cebu’s burgeoning reputation as a manufacturing and logistics hub, further amplified by the very limited industrial inventory in the region.”

West Cebu Estate, winner of the Best Industrial Development (Asia) title at the 18th PropertyGuru Asia Property Awards Grand Final and the Best Industrial Development title at the 11th PropertyGuru Philippines Property Awards, has especially witnessed incredible growth.

Once primarily known for shipbuilding, West Cebu Estate now attracts diverse industries like manufacturing and logistics, demonstrating the award-winning estate’s versatility and ability to cater to evolving market needs.

Ms. Auza added: “We’re confident that Cebu’s industrial sector will continue to thrive, driven by its strategic location, ready inventory for industrial spaces, skilled workforce, and supportive business environment. At Aboitiz InfraCapital, we are committed to providing world-class industrial estates that empower businesses to succeed and contribute to the region’s economic progress.”

Aboitiz InfraCapital Economic Estates also won the Best Mixed Use Development award for LIMA Central Business District at the 11th PropertyGuru Philippines Property Awards, with LIMA Estate itself winning the Best Green Development award. Aboitiz Land, Inc. won the prestigious Best Housing Development (Philippines) award for Seafront Residences, in addition to titles for the projects Ajoya Cabanatuan and The Villages at Lipa.

Cebu Landmasters, Inc., winner of the Best Developer (Mindanao) title at the 11th PropertyGuru Philippines Property Awards, also noted an increasingly receptive property market outside the nation’s capital.

Jose Franco Soberano, SEVP & COO, Cebu Landmasters Inc., said: “All projects launched by Cebu Landmasters in Cebu and Davao were sold out within weeks from market introduction. This makes us bullish about the property markets not only in these cities but also in the 16 key cities in VisMin where CLI is present. The Vismin market continues to be characterised by sustained demand amidst lacking supply.”

Cebu Landmasters, Inc. is behind celebrated projects such as Casa Mira Towers Bacolod, winner of the Best Condo Development (Visayas) award, and Casa Mira Iloilo, winner of the Best Housing Development (Visayas) award at the 11th PropertyGuru Philippines Property Awards. The developer additionally won Best Housing Development (Metro Cebu) for Casa Mira Homes Danao.

The developer is also driving progress in Bohol with Costa Mira Beachtown Panglao, winner of the Best Waterfront Condo Development award, and Davao with DGT City Center, winner of the Best Retail Architectural Design award.

Jose R. Soberano III, chairman, president, and CEO of Cebu Landmasters, Inc., was honoured as the Philippines Real Estate Personality of the Year for achievements that include leading the expansion of the homegrown Cebu developer.

Expanded ESG categories

The PropertyGuru Philippines Property Awards will further raise the Gold Standard of real estate in 2024 with new categories for the 12th annual ceremony. The gala night will be attended by developers from Luzon, Visayas, and Mindanao and will be held on Friday, 6 September 2024 at Shangri-La The Fort, Manila.

Entries are open. Submissions from eligible entrants are currently being accepted via asiapropertyawards.com until 14 June 2024.

Key dates for the 2024 edition:

• 14 June 2024 – Entries close
• 1 July – 9 August 2024 – Site Inspections
• 12 August 2024 – Final Judging
• 6 September 2024 – Gala Dinner and Awards Ceremony in Manila, Philippines
• 13 December 2024 – Regional Grand Final Gala Presentation in Bangkok, Thailand

New accolades will celebrate outstanding developers for their impact on environmental, social, and corporate governance (ESG), i.e. their achievements in sustainable design, sustainable construction, energy efficiency, and social impact.

Other new categories will set outstanding companies apart for their operational portfolios and distinguish projects ranging from investment homes to lifestyle and nature-integrated developments, in addition to sales galleries.

Jules Kay, general manager of PropertyGuru Asia Property Awards and Events, said: “The Philippines’ trailblazing developers are venturing into investment opportunities beyond the capital and envisioning master-planned projects within the rapidly evolving metropolises of Visayas and Mindanao. From the vibrant cityscape of Cebu to the southern charms of Davao, these forward-looking companies see opportunities in destinations that offer strong tourism potential and inherent natural beauty. The PropertyGuru Philippines Property Awards will recognise these developers as they expand and diversify their offerings and increase the range of investment and lifestyle choices on offer throughout the archipelago.”

Related: The PropertyGuru Philippines Property Awards set to elevate standards of real estate, drive innovation in 12th edition

With an in-depth knowledge of property markets in Luzon, Visayas, and Mindanao, the independent panel of expert judges in the awards take part in a fully transparent, professionally run selection process. HLB, the global network of independent advisory and accounting firms, supervises the entire process.

The PropertyGuru Philippines Property Awards are part of the regional PropertyGuru Asia Property Awards series, which marks its 19th year in 2024. Top winners of the PropertyGuru Philippines Property Awards will be able to compete for the coveted “Best in Asia” titles at the PropertyGuru Asia Property Awards Grand Final on 13 December 2024.

The PropertyGuru Asia Property Awards series covers key markets across the region, spanning Southeast Asia, East Asia, South Asia, and Oceania, with exclusive gala events and ceremonies that represent the most anticipated property events of the year.

Organised by PropertyGuru Group (NYSE:PGRU), the 12th PropertyGuru Philippines Property Awards are supported by platinum sponsor Kohler; gold sponsor Boysen Paints; silver sponsor Dongpeng Ceramic; official magazine Property Report by PropertyGuru; official newspaper The Philippine Star; official publicity partner Ripple8; media partners BusinessWorld and PhilStar Property Report PH; and official supervisor HLB.

For more information, email [email protected] or visit the official website: asiapropertyawards.com.