In their December 2014 Market Insight, property consulting firm Pinnacle gives a rundown of the office, residential, retail, hotel and gaming, and industrial real estate market for the previous year.
Property consultant Pinnacle Real Estate Consulting Services, Inc. released their Market Insight for December 2014. Here are the highlights of the report:
Top developers for 2014 as shown in numbers for the first three quarters of 2014 were Megaworld Group with Php19.03 billion, SM Group with Php13.5 billion, Ayala Land Group with Php10.8 billion, Filinvest Group with Php9.16 billion, Vista Land Group with Php 4.24 billion, Robinsons Land Group with Php3.88 billion, and Federal Land with Php1.1 billion.
At the office market, the business process outsourcing (BPO) industry is driving the lease rate of Grade A office spaces in areas like Makati, Alabang, Quezon City, Bonifacio Global City (BGC), and Ortigas Center.
The residential market is also displaying growth, most notably with the approval of license to sell (LS) units targeted at socialized and economic housing needs. Leasing of condo units also remains strong.
While dominated by big players like SM, Robinsons, and Ayala, the retail market is seeing more activity from Puregold/Cosco Group, Starmall and Rustans Group, and the Metro Gaisano Group.
Tourist rates also saw an increase in 2014 compared to the year before, resulting to a healthy level of occupancy in hotels.
The industrial market is also showing growth, the most significant development being the interest of the World Bank in supporting the 177-hectare Sabah Al-Ahmad Global Gateway Logistics City (GGLC) to rise in Clark Special Economic Zone.
Click here to read Pinnacle’s full report.