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Global property firm Savills recently released the Asia Pacific Investment Quarterly for the 2nd quarter of 2015, reporting significant updates on the real estate markets in the Asia Pacific region.
For this quarter, Savills' international associate KMC MAG Group stated that the Philippines had hit a record-high in terms of quarterly transaction volume, which was mainly driven by large-scale land deals.
The report highlighted significant transactions in Cebu, particularly in the South Road Properties. Major real estate firms have won the auction to develop portions of the reclaimed property to transform it to future mixed-use central business districts in the next wave city.
Coupled with the country's sound macroeconomic environment and booming outsourcing industry, developers and investors are now keen in expanding their portfolios outside Metro Manila. These deals are also an excellent demonstration of the current market trend: local developers consolidating big parcels of land to build self-sustaining, master planned townships.
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