One of the real estate industry’s biggest award-giving bodies is launching new categories, reflecting changing trends in the property landscape, including the need for pet-friendly properties, rising demand for properties in areas with good air quality and greater access to residential estates in emerging urban areas outside Metro Manila.
By Anne A. Jambora
The two-year quarantine has compelled the real-estate industry to innovate along the rapidly changing property landscape. It was a world where resilience and longevity were measured by how well an industry adapted to the shifting markets.
Those were times when second homes became primary homes, when the location’s air quality sweetened a property’s value, when working from home led to developments that integrated families, building and fostering communities that bring families closer to home, work, entertainment and social spaces.
“We also saw the evolution of culture, offering residential, commercial, retail office, entertainment and recreational facilities,” said Cyndy Tan Jarabata, president, TAJARA Leisure & Hospitality Group Inc., during a press conference hosted by PropertyGuru Philippines.
Resurgence
Property Guru Philippines is gearing up for the 10th PropertyGuru Philippines’ Property Awards. The long-running real-estate awards returns to Manila with the resurgence of cautious optimism as pandemic restrictions ease. An exclusive gala dinner and award ceremony will be held on Oct. 7 at Fairmont Makati. Entries from eligible companies and nominations from the public are accepted until Aug. 5. Many new categories are also at stake.
Jarabata, who has chaired the awards program in the last decade, added that Cebu, one of the provinces left in ruins by Typhoon Odette last December, “is back from the rubble and remains strong and competitive despite the devastation caused by the plight of three months ago.”
Pet-friendly properties are increasingly becoming popular, she said, as more and more Filipinos acknowledge their four-legged companions as members of the family. As property developers accommodate this trend, standards for its development will continue to improve.
Residential estates outside Metro Manila are also moving up in terms of development and value, as the demand for establishments around areas deemed to have clean, quality air, went up. The idea of quality air outside the big city triggered an exodus. Urban families exchanged their high-rise city homes for laidback bungalows in the province.
“We also saw emerging cities outside Metro Manila because of the expressway and the new Clark International Airport. The ease of travel opened new developments and businesses, business expansions in Calabarzon and some parts of Mega Manila,” Jarabata said.
Digital strategy
SMDC (SM Development Corporation), the current Best Developer (Philippines) titleholder, represented by Jose Mari H. Banzon, SMDC president, accelerated its digital strategy. “People need to be connected. The digital business became very important in the pandemic. It was a matter of survival not only for our business but for everyone,” he said.
The residential and rental market will be in demand again, Banzon said, as schools and face-to-face workforce return, needing constant destinations.
“It is the vision of Henry Sy Jr. (co-vice chairman of SM Investments) of building a nation of homeowners. Our purpose is to democratize ownership in the Philippines. More than just building condominiums, we build a community of people,” Banzon said.
As conduits of nation-building, Banzon said SMDC also believes in promoting sustainability. By efficiently sharing spaces and resources, properties will become inclusive and affordable. He continued that masterfully designing sustainable communities should not be expensive so that more people can live a low-carbon footprint lifestyle.
“It was our passion for building communities that Filipino families can call home, and it unites us to do more for the country. As we move forward into a post-pandemic world, we are optimistic that the property sector will stay on track in gaining strength,” Banzon said.
SMDC represented the Philippines at the 16th PropertyGuru Asia Property Awards Grand Final, where it competed for the title of Best Developer (Asia) and other accolades against fellow country winners in the 2021 series.
New categories
The PropertyGuru Philippines Property Awards launches new categories: Best Luxury Developer, Best Completed Condo Development, Best Completed Housing Development, Best Connectivity Condo Development, Best Connectivity Housing Development, Best Waterfront Condo Development, Best Waterfront Housing Development, Best Branded Residential Development, Best Integrated WFH (Work From Home) Development, Best Pet-Friendly Residential Development, Best Health and Wellness Development, Best Eco-Friendly Condo Development, Best Eco-Friendly Housing Development, Best Eco-Friendly Commercial Development and Best Smart Building Development.
“Around 20 of the awards have been dedicated to design and special recommendation and sustainability. This is our way to push boundaries in design, innovation, technology corporate responsibility in a greener environment,” Jarabata said.
The main country winners of the 2022 PropertyGuru Philippines Property Awards may qualify to compete for regional honors at the 17th PropertyGuru Asia Property Awards Grand Final on Dec. 9 in Bangkok, Thailand.
The exclusive event will also be live-streamed on digital platforms, including AsiaPropertyAwards.com, extending the program’s reach to consumers and agents throughout Asia-Pacific. Nominations and entries are accepted here: https://www.asiapropertyawards.com/en/nominations/
