Philippine Real Estate Developers Pursue Joint Venture

Houses, apartments, and condos are among the Philippines’ most important prime real estates. They are popular places of residence for the masses, workers, businessmen and investors, because they provide lodging and everyday comfort. However, the real estate with the most value can be found in Makati, the financial center. This is due to their closeness to various companies and office spaces, including clothing shops, malls, bars, restaurants, and many more. As such, renting apartments and houses is widespread in Makati.Condos, especially, are very popular in the country, especially among businessmen, investors, and high-ranking society people. This is especially true in Makati as a financial district. These days, the demand for leasing condos in Makati has shot up, with more and more corporate people and officials wanting to have their own.Condos in Makati are not only instrumental in shaping the city skyline, but also the way its people live and interact. Nowadays, Philippine housing costs have skyrocketed, with low-cost homes on small tracts of land found almost exclusively at the city’s fringes. Condos, on the other hand, do not come with land costs, so one has a good chance to renting a cheap one.As an answer to the rising demand of housing in Metro Manila, property giant Ayala Land Inc. (ALI) has formed a partnership with the Lucio Tan Group for a real estate undertaking in Mandaluyong City in a joint venture agreement. ALI chairman Fernando Zobel de Ayala and Lucio Tan signed the agreement recently, and entails the use of properties held by the Philippine National Bank (PNB) at Reliance and Mayflower streets close to EDSA. This was the result of an earlier deal between ALI and PNB (through the middle-income housing subsidiary Avida Land Corp.) for a P6-billion venture to build on the bank’s 2.3-hectare asset. By 2011, construction is expected to commence, and will go on three and a half years or so.The project itself is envisioned to be a multi-storey residential community, and will offer features like a clubhouse, garden, children’s play area, and swimming pools. Said PNB, “It is positioned as an affordable housing ideal for young professionals and startup families working or doing business in Mandaluyong City, Pasig City and even Makati City.”ALI also inked an agreement with Lucio Tan’s property from Eton Properties Philippines Inc. with the participation of its low-cost housing subsidiary, Amaia Land. It is a project entailing the development of a real estate measuring four hectares in Amaia Scapes.

Commercial Real Estate – An Exciting Prospect

All commercial properties share a common perspective. It is to derive means of profitability. The ground principle provides assurance that business aspirations are well met on the part of businessmen and the person who had invested in the whole infrastructure unit. Different properties have various functioning methods, few professionals like to buy or take it on rent. It is more of an individualistic approach and business requirements also play a vital role in it. Commercial real estate includes offices, raw land and likewise areas of pure commercial value. Just to make it easier to understand, it is entirely different and opposite from residential properties. The respective industry is gaining further ground and has taken a giant stride in the last five years or so. The percentage ratio has been increased by 20% to say the least.Definitely! Like all other business ventures, it had its own share of luck and witnessed quite a change however adversities are always meant to sharpen the skills of business entrepreneurs who graciously accept the challenge and provide window of opportunities to others. The concept of investment properties is turning novice into the shoes of industry experts. There are number of factors involved while one is trying to look out for an appropriate site for apartment buildings. World economy is essential to the success factor however the impact of local economies is also proving to be critical over here. Various other factors such as lease term, number of people involved and the state of local market are also worth mentioning. Real estate development has opened the floodgates for different types of investments to be made in the sector. The single most influential factor is to choose the right type of property. Location holds the key here as it is going to attract larger amount of audience as compared to any other project. The surrounding area should have access to common household activities. It is always advisable to take the assistance and expertise of professional individuals so as to bring uniformity level into existence.Among other factors, try to read all lease laws carefully as these legal policies differ from place to place. All over the world, the idea of investment properties is becoming more and more popular. Land has always been considered as the top most investment. Real estate world holds no restriction in place for other business professionals to foray into the business. This seems to have brought all the revolution as big corporation houses are bringing different forms of culture and competition forth. The industry is witnessing the biggest phase as more land is going to get covered and being practiced into the segment of real estate development.