The Philippine property market should see a faster recovery from the adverse impact of the COVID-19 pandemic starting 2024, with sustained economic growth and the implementation of sound macroeconomic policies fueling the sector’s growth, real estate services and investment management firm Colliers said in its latest forecast.
Since 2013, in the aftermath of typhoons Sendong and Yolanda, San Miguel Corporation (SMC) has been at the forefront of building resilient housing communities nationwide.
Colliers, an international diversified professional services and investment management group, expects greater portfolio expansion and diversification to drive the growth and investor interest in the Philippine real estate investment trust, or REIT, sector.
Property developer Megaworld Corp. and its unit Suntrust Properties, Inc., will develop for P7 billion, a six-hectare property in Puerto Princesa in Palawan into what it calls a lifestyle estate.