Federal Land helps drive socio-economic activity in Metro Manila with new properties
Premier real estate developer Federal Land, Inc. further expands its portfolio with the launch of new properties that are seen to help drive socio-economic activity in Marikina, Manila, and Bonifacio Global City in Taguig.
“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 Colliers Property Market Report, which listed “government-projected economic rebound, continued inflow of remittances from Filipinos working abroad, accelerated easing of mobility restrictions” as the key factors for the improvement in consumer and business confidence that will positively impact the property sector.
The report mentioned that the overall Metro Manila vacancy rate is expected to go down to 17.2% by the end of 2022, from 17.9% in 2021. This demand is driven by the return of local and foreign employees to their physical workplaces, given the relaxation of travel and community restrictions in the Philippines.
Colliers also sees a gradual recovery in rents and prices and expects an increase of 1.5% and 2.7%, respectively, as demand grows. It also cited data from the Bangko Sentral ng Pilipinas’ latest Business Expectation Survey showing an improved business outlook in Metro Manila, going up to 35.7% from 20.1% in Q1 2021.
Read more: The Filipino Times Online – News