“As revealed in the ULI and PwC’s Emerging Trends in Real Estate Asia Pacific 2021, Philippine real estate investment prospects have dropped considerably in the past couple of years. Building back investor confidence will require stakeholders to work closely with government to improve the attractiveness of Philippine real estate as an investment class.” said Jean de Castro, chairwoman of ULI Philippines, during the virtual launch of the report held on 21 January 2021.

“Key Asia Pacific trends such as decentralization, development of multiple city cores, and technology-driven innovation will drive growth in the real estate sector moving forward,” she added.

Emerging Trends in Real Estate Asia Pacific 2021 is an annual study of real estate trends by the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC). The report provides insights on investing decisions since it’s based on a survey of 391 real estate professionals, and 134 interviews of investors, developers, property company representatives, lenders, brokers and consultants. The launch was attended by over 200 real estate professionals and included three different sessions focusing on Philippines as a Real Estate Investment Prospect,  Movers and Shakers:  Navigating the Future and The Way Forward with over ten industry leaders speaking to the audience.

For Santos Knight Frank Chairman and CEO Rick Santos, 2020 has been a challenging year for the Philippines and the world, but there are great opportunities in real estate sectors such as industrial & logistics, office, REITs, and data centers, among others.

“With megatrends such as e-commerce growth, decentralization outside Metro Manila, and continued outsourcing and BPO expansion in the Philippines, we expect to see a soft rebound in the real estate market as the economy gradually recovers. For investors, there will also be non-bank financing and buying opportunities especially in industries negatively impacted by the pandemic,” Santos said.

In the panel on “Philippine Real Estate Investment Prospects”, PwC Philippines Executive Director Raoul Villegas said the pandemic focused the property industry’s attention on underappreciated markets. Industrial assets like warehousing and cold storage play on long-term trends in the Philippines, like increased protein consumption and last-mile delivery. Villegas also shared that more land will be needed to build data centers and cell towers to support digital transformation.

Manila Mayor Isko Moreno to Investors: Manila is ready for business

Manila Mayor Francisco “Isko Moreno” Domagoso, in a speaking engagement with international real estate developers, investors, and urban planners on Thursday, announced that Manila will be open for business in no time.

At the launch of the Emerging Trends in Real Estate Asia Pacific 2021 report on January 21, Domagoso reported that Manila’s Covid-19 vaccination roadmap will set the stage for the city’s economic recovery.

“Now that we have the vaccines, we must continue to believe that the system will work. No matter the brand we choose, I will make sure that I will be vaccinated. Manila’s chosen vaccines should also be registered in proper regulatory agencies, like the Food and Drug Administration.”

“Welcome po kayo sa Maynila. No abuse will come to you,” he added.

The City of Manila just concluded its business registration and renewal period for 2021. Mayor Domagoso shared that while some businesses closed in the city, there was a day when 200+ new businesses applied for registration.

“To limit corruption, you must limit human contact. We have established the GO! MANILA app where people anywhere in the world, if you have a property in the city, you don’t need to go to city hall to do your transactions. This is a technology-based service for ease of doing business,” said Domagoso.

In the launch organized by the Urban Land Institute Philippines and Santos Knight Frank, speakers from real estate, design, and tech industries discussed emerging trends in the future of land use in Asia Pacific. Due to the COVID-19 pandemic, there is less demand for retail and office space. Real estate developers are advised to pivot to emerging trends like data centers, cell sites, warehouses, and cold storage facilities.