Real estate company Federal Land, Inc. is on track with its 2022 targets with new properties that are seen to help drive socio-economic activity in Marikina, Manila, and the Manila Bay Area in Pasay City.
“We are optimistic that the sector will see a significant rebound this year. This is the reason we remain aggressive in introducing new properties in key areas in the metro. As more people resume their previous routines, we shall provide them with living options that will fit their needs and respond to their demand for a holistic, sustainable lifestyle,” Federal Land, Inc. sales group head Margarita Saenz-Resurreccion said.
This position supports the findings of the recently released Colliers Property Market Report, which listed “improvement in consumer and business confidence” as among the key market enablers for the sector.
The report, released on February 9, mentioned the overall Metro Manila vacancy rate is expected to go down to 16.2% by the end of 2022, from 17.9% in 2021. “This points out to a healthy supply pipeline,” it said.
Colliers also sees gradual recovery in rents and prices and expects an increase of 1.7% and 1.5%, respectively, as demand grows. It also cited data from the BSP’s latest Residential Real Estate Price Index (RREPI) report showing nationwide home prices increased by 6.3% YOY in Q3 2021 due to stronger consumer demand for residential property.
The group also encouraged residential developers to “continue lining up projects, both condominium and house & lots, in line with the anticipated recovery of the economy and as more professionals return to traditional offices located in central business districts.”
Federal Land is set to launch new residential towers in Marikina with Siena Towers, Manila with Quantum Residences, and in the Manila Bay Area with Mi Casa.
“All these developments are strategically located in areas with various commercial and lifestyle choices, with nearby schools, hospitals, and major thoroughfares. They feature a wide range of amenities and access to the outdoor space that allow residents to lead an active, well-balanced life,” Resurreccion said.
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