Top 10 Philippine Real Estate News for 2015

The year 2015 was an eventful one for Philippine real estate. It was a roller-coaster ride that coursed through both news of optimistic growth, and the not-so-positive issues that affected everyone involved in the real estate business.  Either way, these happenings helped shape the local real estate scene to what it is now, and could give us an indication of what’s in store for 2016. To refresh your memory, MyProperty.ph offers a look back at 10 of the biggest real estate-related news of the year.

A way to monitor real estate prices. The Bangko Sentral ng Pilipinas (BSP) is preparing to launch a residential real estate price index (RRPI) that aims to track property prices in Metro Manila, as well as nearby provinces. According to the BSP, the RRPI, which will include information on costs of construction materials and types of houses being built, will help determine the formation of a housing bubble so that preventive actions can be taken.

Rise of the townships. The year 2015 saw the rise of townships all over the country by different property giants. Megaworld Corp. alone launched five townships this year: Sta. Barbara Heights (Sta. Barbara, Iloilo), The Upper East and Northill Gateway (both in Bacolod, Negros Occidental), Westside City (Bay City, Parañaque), and a still-unnamed township in San Fernando, Pampanga. Ayala Land added two townships to their growing portfolio: Cloverleaf in Balintawak, Quezon City; and Capitol Central in Bacolod. Meanwhile, Vista Land and Lifescapes, Inc. is ramping up the development of Vista City, a 1,500-hectare “communicity” located at the boundaries of Cavite, Laguna, Las Piñas and Muntinlupa; and SM Prime is continuing to expand the Mall of Asia Complex in Pasay.

Pampanga’s continuous boom as a real estate destination. Pampanga is experiencing a gradual rise in real estate activity with the launch of several big-ticket developments this year. One is the aforementioned San Fernando township project by Megaworld, who plans to incorporate a cyberpark into the development to accommodate the city’s growing BPO sector. Also located in San Fernando, Century Properties’ Azure North is the brand’s addition to their line of resort-inspired developments. Filinvest Land will be working alongside Bases Conversion and Development Authority to develop the 288-hectare Clark Green City, which is designed to be the country’s first-ever smart, green, and disaster-resilient metropolis.

SM Group dominates Philippines Property Awards 2015. This year’s Philippines Property Award saw the domination of the SM Group as it took home several recognitions, including the most-coveted “Best Developer” for SM Prime Holdings. SM Prime was also awarded “Best Retail Development” and “Best Retal Architecture” for SM Megamall’s Mega Fashion Hall. SM Development Corporation (SMDC) bagged the “Best Landscape Architectural Design” for Shell Residences, “Best Affordable Condo Development (Metro Manila) award for Mezza II Residences, and several “Highly Commended” certificates for various categories.

The opening of the Muntinlupa–Cavite Expressway (MCX). Presenting an opportunity to further boost the viability of the south as an investment destination was the launch of the Muntinlupa–Cavite Expressway (MCX), a 4-kilometer, 4-lane toll road that connects Bacoor, Cavite, to the South Luzon Expressway (SLEX). According to the Department of Public Works and Highways, the MCX will cut travel time between southern Metro Manila and Cavite by an average of 45 minutes, providing quick and easy access to the major real estate developments in the Cavite, Las Piñas, and Muntinlupa area.

Lower Pag-IBIG housing loan interest rates. Aspiring homeowners received good news when the Pag-IBIG Fund announced that they will be charging lower interest rates for housing loans. On June 1, 2015, Pag-IBIG began implementing a 6.5% interest for loans with a 3-year fixed period. Additionally, the following rates were implemented alongside their corresponding fixed-term periods: 7.270% for 5 years, 8.035% for 10 years, 8.585% for 15 years, 8.8% for 20 years, 9.05% for 25 years, and 10% for 30 years.

Tighter standards in bank loans for commercial real estate. In the second quarter of 2015, banks continued to implement stricter lending standards in terms of loans granted to property developers. According to the results of the second quarter 2015 Senior Bank Loan Officers’ Survey, there was a net tightening of overall credit standards for commercial real estate loans that, according to Bangko Sentral ng Pilipinas, was attributed to the said “perceived stricter oversight of banks’ real estate exposure along with banks’ reduced tolerance for risk.”

A second chance for broker exam non-passers. For aspiring real estate brokers, the May 24, 2015, licensure exam would have been their last chance to earn their license even without earning a real estate management degree, which meant bad news for non-passers. However, the Professional Regulation Commission – Board of Real Estate Service (PRBRES) announced that it will give non-passers a second chance by offering another brokers’ exam on February 28, 2016. According to PRBRES Chairman Eduardo G. Ong, this move was done “to show that our industry and the real estate service profession is a very robust profession, that we want everybody to be on board.”

Disasters that call for change. As news of the devastating earthquake in Nepal back in April resonated across the world, the Philippine Institute of Volcanology and Seismology (PHIVOLCS) revealed that a greatly damaging 7.2-magnitude earthquake caused by the West Valley Fault can potentially occur in Metro Manila in our lifetime. PHIVOLCS warned homeowners of the importance of choosing a home built away from fault lines, and one that’s disaster-resilient at that. Meanwhile, worsening traffic conditions in Metro Manila seem to have hit an all-time high this year, leading netizens to choose the area as the city with the worst traffic conditions in a survey conducted by navigation app Waze. As the Metro Manila Development Authority asks the public to brace itself for another 15 years of road gridlock, several possible solutions are raised, such as moving to homes closer to work to eliminate the need for commuting or driving and better project planning to avoid adding to traffic in highly congested areas.

The Torre de Manila case. No condominium made more headlines this year (albeit for adverse reasons) than DMCI Homes’ Torre de Manila, a residential condo rising 49 stories along Taft Avenue. In 2014, a petition was filed by the Order of the Knights of Rizal asking the Supreme Court to halt the construction of Torre de Manila as it is said to taint the iconic sightline of Luneta Park’s Rizal Monument. A temporary restraining order was issued by the Supreme Court in June 2015 to halt the project’s construction, although a final decision on whether to demolish the tower or allow DMCI Homes to complete it has yet to be reached.


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SM Holds First Religious Art Exhibit in Pampanga

Angeles, Pampanga. October 2015 – SM, in partnership with Foundation for Lingap Kapampangan and the Archdiocese Commission on Church Heritage, recently held “Obra Sagrada” at SM City Clark.

Obra Sagrada, which roughly translates to “sacred works,” featured works of art with religious themes from 20 artists hailing from Pampanga, Bulacan, Bukidnon and Metro Manila. Dubbed as the first ecclesiastical art exhibit in the country, Obra Sagrada aims to promote awareness for both the art and artists, giving them the opportunity to showcase their craft not only in the country, but also in Asia-Pacific.

The exhibit also featured work from Wilfredo “Willy” Layug, the creator of the “Our Lady of Palo” statue from the Papal Visit earlier this year.  The art forms come in a variety of vestments and sculptures, altars, retablos, church furniture and fixtures, religious home décor, gold leafing, and metal smithing work.

Apart from the art exhibit, guest speakers also gave talks on Christian iconography and heritage appreciation.

SM Supermalls President Annie Garcia said it is a privilege for the company to host and sponsor such an event that would promote local artists and cultural heritage. “We want the public to see how rich our country’s religious art heritage is, and how much talent we have in the country in this artistic category. Hopefully, this serves as an inspiration to budding artists out there,” Garcia added.

Such exhibits are in line with the company’s programs that promote Philippine heritage and culture. This partnership with the Foundation for Lingap Kapampangan and the Archdiocese Commission on Church gave SM mall-goers the rare opportunity to have a glimpse of and rediscover the Philippine’s rich religious art heritage. SM is exploring its partnership with these organizations further to make Obra Sagrada an annual activity in SM Clark and to bring the exhibit to other SM malls.

SM Holds First Religious Art Exhibit in Pampanga

Angeles, Pampanga. October 2015 – SM, in partnership with Foundation for Lingap Kapampangan and the Archdiocese Commission on Church Heritage, recently held “Obra Sagrada” at SM City Clark.

Obra Sagrada, which roughly translates to “sacred works,” featured works of art with religious themes from 20 artists hailing from Pampanga, Bulacan, Bukidnon and Metro Manila. Dubbed as the first ecclesiastical art exhibit in the country, Obra Sagrada aims to promote awareness for both the art and artists, giving them the opportunity to showcase their craft not only in the country, but also in Asia-Pacific.

The exhibit also featured work from Wilfredo “Willy” Layug, the creator of the “Our Lady of Palo” statue from the Papal Visit earlier this year.  The art forms come in a variety of vestments and sculptures, altars, retablos, church furniture and fixtures, religious home décor, gold leafing, and metal smithing work.

Apart from the art exhibit, guest speakers also gave talks on Christian iconography and heritage appreciation.

SM Supermalls President Annie Garcia said it is a privilege for the company to host and sponsor such an event that would promote local artists and cultural heritage. “We want the public to see how rich our country’s religious art heritage is, and how much talent we have in the country in this artistic category. Hopefully, this serves as an inspiration to budding artists out there,” Garcia added.

Such exhibits are in line with the company’s programs that promote Philippine heritage and culture. This partnership with the Foundation for Lingap Kapampangan and the Archdiocese Commission on Church gave SM mall-goers the rare opportunity to have a glimpse of and rediscover the Philippine’s rich religious art heritage. SM is exploring its partnership with these organizations further to make Obra Sagrada an annual activity in SM Clark and to bring the exhibit to other SM malls.

Barkada Bonding this Valentine’s Day

Single but not alone? Tag along your friends this Valentines Month and try a different adventure not just for lovers but for the entire gang. Jungle Environment Survival (JEST) Camp Subic gives you the chance to participate in an ALL NEW OUTDOOR EXPERIENCE!

Jest Hunger Games  a non-combat course that is both safe and held, and yet also an exciting adventure where participants learn to survive in the wild like the characters in the Hunger Games books and films. A unique and powerful experience of nature, far from the world of traffic, computer screens and mobile phones, participants will be taught jungle survival skills to make and cook over fires, build shelters, sneak/stalk and finally to try and win the Games and become “the Victors” . New skills, adventure, immersion in the jungle, intensive teamwork and a whole lot of mischief means this promises to be a truly unforgettable experience.

The #JestHungerGames will be a two part session. Each participants has to go through an intensive training at the  Training Camp.

Just like in the real Hunger Games, you arrive at our 'Capitol' and train for half a day in our 'Training Camp'. Skills include learning how to make fire, using bow and arrow, sneaking/stalking your opponents, camouflaging yourself and even winning sponsors to get extra lives in the 'Arena'!

In the afternoon, get blindfolded as they lead you to the arena (yes, you won't have any idea what it will look like just like in the Hunger Games!) and only remove them as they start the 10-second countdown and get first hand experience of getting your survival tools from the Cornucopia (filled with water guns, water bombs, food, water and other surprise supplies)! Fight to the 'death' by grabbing the 'lives' of your opponents. The last man standing will be crowned VICTOR!

You can experience Jest Hunger Games for only P999 each, with a minimum participants of 10. This is open to ages 13 years old and above. Will you be willing to take the challenge? Who knows you might be crowned to be the Victor!

Jest Camp also offers School & Corporate Team Building Activities. For details & bookings, call Jest Camp’s Manila Office at 218 9023 / 0922 3844227 / 0917 9048777 or email : manila@jestcamp.com

JEST CAMP is located at Upper Mau, Cubi-Triboa, Subic Bay Freeport Zone.

LET THE GAMES BEGIN!