By Shabnam Muzammil:
Branded residential developments are gaining popularity in the Philippines with at least 16 branded residential projects launched since 2008, revealed a survey by real estate firm CBRE, Philippines.
The most current developments are strategically located in top resort destinations within the country. Notable examples include Mövenpick Residences in Cebu, co-branded with Mövenpick Hotels and Resorts, and Aqua Boracay by yoo, designed by UK-based yoo studio.
According to Rick Santos, CBRE Chairman and Founder, “the presence of branded residences in the Philippines is a sign of the strength of the Philippine real estate market, specifically in the high end and luxury segments.”
“A captive international market with a preference for luxury will be observed, most especially for destination properties such as in Cebu and Boracay. This, coupled with the Philippine government’s aggressive tourism campaign, will revitalize investment and renew interest in the country.”
Meanwhile, other branded residences concentrate on the primary condo market, such as those seen in prime central business districts of Taguig, Mandaluyong and Makati and command higher returns on investment due to higher quality facilities, amenities ad security.
Shabnam Muzammil, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email shabnam@propertyguru.com.sg
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