RTO bullish for property sector


Photographs courtesy of aseana residential NEW-normal city. MidPartk Tower in Aseana City has 699 large format units spread across four towers.

The outlook for Philippine real estate is becoming brighter as more people return to onsite work and are looking for well-developed and accessible residential areas to live closer to their work, as Fiscal Incentives Review Board (FIRB) recently ordered a return-to-office or on-site work arrangement for registered business enterprises and outsourcing firms boosting consumer confidence in the residential property market. Professional services and investment management company Colliers Philippines also noticed optimism across various property segments. Consumer confidence is seeing a boost as well. According to their recent Quarterly Residential Property Market report, residential vacancy rates are declining in Metro Manila as Q1 2022 reported a 17.8% vacancy rate with the succeeding Q2 projected to have a 17.2% vacancy rate after it skyrocketed to a record-high since 2020 due to the pandemic. The need for a residential estate with world-class amenities and generous home layout is something that MidPark Towers is preparing to fill for Filipinos. Aseana Residential Holdings Corp. (ARHC)’s newest development, MidPark Towers, is a four-tower residential estate located at the heart of Aseana City — bay area’s emerging Central Business District. MidPark Towers is ready to fill the market need as the recent residential projection by Colliers estimates a total of 10,500 units being up and available in the market by end of 2022. [caption id="attachment_8623" align="aligncenter" width="1344"] Elite Havens.[/caption] MidPark Towers follows the architectural vision of ARHC in redefining city living that dons the community with a pedestrian-friendly landscape with accessible connectivity to key transit points such as NAIA Expressway (NAIAx), LRT Line-1 Extension, and the Parañaque Integrated Terminal Exchange (PITx). Additionally, its prime location allows for accelerated mobility as it will be connected to key developments inside the community such as Parqal, Aseana City’s biggest linear mixed-use development, 8912 Asean Avenue, a two-tower office building, Ayala Malls Manila Bay, the biggest mall in the Ayala Malls portfolio, and St. John Paul II Chapel. “We are following our vision of creating safer homes and breathable communities for our residents to enjoy. MidPark Towers is inside a master planned community that complements the rest of the offerings we have in Aseana City,” shared Buds Wenceslao, CEO of D.M. Wenceslao Group of Companies. Visit the website www.midparktowers.com for more details.

Read more at : Tribune

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