Government initiatives see demand surge for land outside Metro Manila region
Many parts of the Philippines beyond the Metro Manila region are seeing increased levels of real estate activity as a series of government initiatives designed to lure businesses away from the overly-congested capital have begun to bear fruit, according to a report by Chicago-headquartered Jones Lang LaSalle (JLL), one of the world’s largest real estate groups. Among the areas attracting the most interest, according to the company, are Cebu, Davao and the nearby provinces of Cavite, Laguna and Batangas. It also indicated that Metro Cebu – a region comprising Cebu city, Lapu-Lapu city and Mandaue city – has seen demand soar across all sectors of its property market.
The real estate agency also singled out demand from offshoring and outsourcing (O&O) firms, English language teaching centers, online gaming operators, the tourism sector, F&B companies and the meetings, incentives, conventions and exhibitions (MICE) sector as fuelling demand across the Metro Cebu region in the second quarter of this year. It also noted that demand for property in Davao is likely to be driven by O&O firms and the need of serviced offices, while Cavite, Laguna and Batangas will see increased demand for land for industrial use.
