PROSPECTS for the affordable housing (horizontal) market remain bright going into the next quarter driven by the escalating demand for affordable, yet decent and safe housing away from the highly dense areas in Metro Manila. Further, it is expected to increase as a blended work force (i.e., a percentage working in the office and the others remotely) will still be pervasive in the mid-term.
In an e-mail interview, Claro Cordero Jr. Cushman and Wakefield head of research, consulting and advisory services, told the BusinessMirror that the affordable housing segment is also expected to be part of the anticipated boom in 2022. He cited the completion of key infrastructure projects that will improve connectivity between Metro Manila and the neighboring areas will be the major driver of the growth. “The increased connectivity will unlock opportunities for tracts of vacant land that will be developed into self-sustaining communities,” he said.
With their entry into the affordable segment, Cordero pointed out the major developers such as Ayala Land Inc., SM Development Corp. and the Villar group are expected to dominate the segment, due to economies of scale and availability of capital and major land banking for development. “However, there are areas/geographies where small- to medium-scale developers have outright advantage of local market knowledge and expertise,” Cordero said.
Developers keep going
Meanwhile, the private developers engaged in affordable housing are moving forward continuing to deliver the commitments to their clients.
For instance, mass housing developer 8990 Holdings Inc.’s push to promote low-cost housing in the country got a big boost when it was recently named by the Pag-ibig Fund as the No.1 among the Top 10 Developers for both the Visayas and Mindanao regions.
Anthony Vincent Sotto, president and CEO of 8990, pointed out that the two top awards from the Home Development Mutual Fund—more popularly known as the Pag-ibig Fund, is a manifestation of 8990’s mission to continue serving the strong demand for low-cost housing in Vis-Min.
He also commended the Fund for continuing to release home loans to qualified employees and overseas Filipino workers (OFWs) for the past 18 months. Thus, despite the lingering effects of the pandemic, many Filipinos are able to fulfill of owning their dream home.
residential condominium project in Mandaue City, Cebu
Sotto also honored the brokers, sales agents and homeowners who continue to support the company’s many projects nationwide.
He attributed the warm response of the market to projects such as Deca Homes Pavia Resort Residences 1 and 2 in Pavia, Iloilo, and Deca Homes Santa Barbara Resort Residences also in Iloilo for the company’s outstanding performance.
Meanwhile, the Deca Homes GenSan 1 project in General Santos City propelled 8990 to win the top citation for Mindanao.
Overall, 8990 bagged five awards in the Pag-ibig Fund STAR (Stakeholders Accomplishment Report) awards for the first half of 2021.
Moreover, 8990 also garnered the following three awards: Best in Conversion for North Luzon, #7 of Top 10 Developers also for North Luzon, and #8 among the Top 10 Developers also for the National Capital Region or NCR.
The company’s North Luzon projects include Deca Homes Meycauayan in Bulacan, while ongoing projects in Metro Manila include Urban Deca Homes Campville in Muntinlupa City, Urban Deca Homes Ortigas in Pasig City, Urban Deca Homes Manila in Tondo, and Urban Deca Towers Edsa in Mandaluyong City.
Meanwhile, Bria Homes, the affordable housing group of the Villar group of companies, continues developing affordable housing units on a fast pace and is ready to turn over more than 6,500 units by year-end.
Red Rosales, president of Bria Homes, is optimistic about the company’s capability to address the housing needs of the times. “We’re seeing a movement towards the suburbs where there is more breathing space and that’s where Bria is going, too,” he said in a press statement.
He said Bria Homes is also interested to address the need for housing in the suburban areas. Moreover, Bria Homes is accelerating plans to build more house-and-lot units and mid-rise residential projects in the country.
Aside from providing safe, secure, environment-friendly and digital-ready features, Rosales said Bria Homes established Sentro, a community hub that features a Health Center, Day Care Center, Senior Citizen Center, and Barangay Center. Recreational facilities include a multifunction hall, tranquil green spaces, basketball courts, and children’s playgrounds to give a superb work-life balance to its residents.
He pointed out all Bria Homes will have proximity to essential destinations such as hospitals, banks, groceries, and other retail establishments.
Meanwhile, Amaia, the affordable housing unit of property colossus Ayala Land Inc. continues to develop vertical units that are both affordable and have quality to enable Filipinos in the affordable segment to experience vertical living.
Loreene Fabi, the sales development and marketing head of Amaia Land Corp. said the company is engaged in developing in Pasig City Amaia Steps Pasig, a 4.5-hectare development of mid-rise condominiums located on Eusebio Street, Barangay San Miguel, Pasig City. Amaia Steps Pasig, which currently has three 9-story buildings—Aria, Blanca and Esperanza—is set to launch its fourth mid-rise building, Clara, to accommodate even more potential homebuyers, mostly young professionals and growing families.
Known primarily as an industrial town before the ’70s, Fabi said Pasig has been transformed into a cosmopolitan city that hosts huge shopping malls, world-class hotels and restaurants, prominent schools, and the bustling business district called the Ortigas Center.
Fabi said Amaia Land is optimistic that their latest project will get a positive response from people of Pasig.