PHL developers tap retiree demand with golf, wellness estates

Property developers in the Philippines are integrating wellness features and golf courses into estate developments to capture demand from the growing retirement market.

Ayala Land Hospitality, which manages a portfolio of 4,000 rooms across its homegrown and luxury brands, aims to attract retirees by incorporating wellness across its leisure estates.

“We’re actually looking into that… we’re exploring assisted living, [and] all that comes with kind of our new outlook on wellness,” Ayala Land Hospitality Creative Director Paloma Urquijo Zobel de Ayala said on the sidelines of a forum hosted by the Philippine Hotel Owners Association, Inc. last week.

For its part, Filinvest Hospitality Corp. (FHC) is looking to attract the retirement market through its golf-integrated developments.

“In Mimosa, we have our Golf Ridge Estates, which is a condominium development that’s focused on the golf kind of lifestyle,” FHC Senior Vice-President Francis Nathaniel C. Gotianun said on the sidelines of the same forum.

“So, we have these kinds of leisure products that are trying to attract retirees.”

FHC manages seven hotels under brands such as Crimson, Quest, and Timberland Highlands.

Likewise, Filinvest Mimosa Plus Leisure City in Clark, Pampanga, houses two 18-hole golf courses managed by FHC.

The retirement market, which is composed mainly of former Filipino citizens and foreigners looking to settle in the Philippines, presents opportunities in the country’s residential and hospitality sectors, said David Leechiu, founder and chief executive officer of Leechiu Property Consultants, Inc. (LPC).

“The economic drivers for the retirement market are so compelling — we’ve been talking about it for 30 years,” Mr. Leechiu said in a separate briefing earlier this month.

“But why aren’t they coming? Because they are not convinced that we are ready to take them on,” he said.

As an example, he said golf courses are an effective way to “attract them [retirees] to come to the Philippines and [stay] until they are comfortable to live here.”

Mr. Leechiu also cited the need to improve the country’s infrastructure, security, and connectivity to encourage more retirees to invest and settle in the country.

About 3,812 foreigners are enrolled under the Special Resident Retiree’s Visa (SRRV), a non-immigrant visa that grants former Filipinos and foreigners aged 50 and above multiple-entry and indefinite stay privileges in the Philippines.

Data from the Philippine Retirement Authority also showed that the top SRRV applicants are Chinese, followed by Americans, Indians, and Koreans

Source: Business World

Real estate prospects clouded by new US tax on remittances

The US decision to impose a 1% remittance tax could serve to dampen property investing activity by overseas Filipino workers (OFWs), industry analysts said.

The remittance tax, a component of the Trump administration’s “One Big Beautiful Bill,” will crowd out any OFW funds earmarked for investing and shift priorities towards essentials, they said.

“While the percentage of remittances being allocated for real estate requirements is increasing, that additional tax will likely affect the inflow of remittances from Filipinos working abroad,” Colliers Philippines Director and Head of Research Joey Roi H. Bondoc said in an interview.

“This might affect the money being set aside for real estate purchases. The lower the remittances, the less will be spent for these discretionary purchases, especially in the luxury segment.”

Remittances could dip between $19.1 million and $148.4 million as a result of the tax, the Department of Finance estimated, describing these movements as having a “minimal” effect on the economy.

OFWs are a key segment of the property market, with many turning to real estate for investment income or to upgrade the living conditions of their families back home.

The decline in money sent home by OFWs would affect demand for the industry’s residential and retail offerings, Santos Knight Frank Associate Director Toby Miranda said.

“OFWs are major demand drivers of residential products, and if they were to send less money, there may be a higher risk of canceled purchases,” he said.

“Remittances from OFWs also impact the purchasing power of their families so retail demand may be impacted,” Mr. Miranda added.

Mr. Bondoc noted that Europe-based OFWs are a strong market for upscale and upper middle-income residential units, while luxury residential units are attractive to Filipinos working in Abu Dhabi.

US President Donald J. Trump on July 4 signed into law the One Big Beautiful Bill, essentially a tax bill that overhauls tax rates and spending. The 1% excise tax on all remittances represents a softening of the bill’s initial proposal to charge remittances by foreign workers 3.5%.

“Given the uncertainties in the global and domestic market, they (OFWs) might have to put these big-ticket purchases on hold, and perhaps wait a little longer before they finally acquire these residential units that they’ve been aspiring for,” Mr. Bondoc said.

Source: Business World

Investors’ shifting needs drive upgrades in industrial real estate

Industrial property developers are expanding their land holdings and upgrading facilities to meet the evolving requirements of local and foreign investors, according to industry executives.

“We recognize the importance of staying competitive in terms of infrastructure and capacity, hence we continuously invest in modernizing our facilities, expanding our footprint, and applying efficient, space-maximizing design principles to optimize land use,” Damosa Land, Inc. (DLI) President Ricardo F. Lagdameo said.

“We provide a range of options — from ready-built facilities (RBFs) and warehouses that enable companies to quickly begin operations, to industrial lots for lease or sale for those who wish to construct purpose-built facilities,” Mr. Lagdameo also said.

“This dual offering allows investors to jumpstart their activities in RBFs while their custom facilities are being built, significantly reducing time-to-market.”

The company is also exploring opportunities for horizontal and vertical developments to address the changing needs of its locators, he added.

DLI operates Anflo Industrial Estate (AIE), a 63-hectare special economic zone in Panabo City, Davao del Norte, which hosts 24 locators from six countries.

The Philippines risks missing out on opportunities to attract industrial investments due to limited and aging inventory, according to real estate services and investment firm CBRE.

Industrial property developers said global investors are now seeking strategic hubs that support long-term growth.

“Today, it’s no longer enough to simply offer land or build traditional industrial estates. What global investors need is certainty, scalability, and speed to market,” said Aboitiz InfraCapital, Inc. (AIC), the infrastructure arm of the Aboitiz group.

To meet growing demand, AIC said it has been expanding its industrial landbank annually.

“We continuously open new inventory year after year to meet growing demand, backed by a total landbank of nearly 2,000 hectares of industrial land. This gives locators the ability to scale confidently over time, knowing the space and support will be there as they grow,” it said.

AIC currently offers over 60 hectares of available industrial inventory across its four economic estates: LIMA Estate in Batangas, TARI Estate in Tarlac, and the West Cebu Estate and Mactan Economic Zone 2 Estate in Cebu.

Lot sizes range from two to four hectares and are expandable depending on locator requirements, AIC said.

Tarlac-based Victoria Industrial Park (VIP) has focused on providing fully developed industrial lots with modern infrastructure rather than pre-built warehouses, according to Chief Executive Officer Melissa Yeung-Yap.

“This design philosophy empowers companies to build facilities precisely tailored to their specific operational requirements and international standards from the ground up,” she said.

The masterplan for the 30-hectare VIP, which opened in May, also prioritizes efficient internal flow, disaster resilience, and future expansions, Ms. Yeung-Yap said.

“This proactive approach ensures that businesses can scale operations seamlessly as they grow, and their facilities remain relevant and efficient for decades to come, mitigating the challenges posed by limited space and outdated infrastructure,” she added.

Sustainability has also become a key consideration among global locators, developers said.

“Our flexible space solutions — including RBFs, warehouses, and industrial lots for lease or sale — allow companies to start operations quickly, reducing construction waste and promoting efficient land use,” Mr. Lagdameo said.

AIE has adopted modular and space-efficient designs, as well as sustainable features such as LED lighting, rainwater harvesting systems, and solar-ready infrastructure.

All of AIC’s operating estates have received a 5-Star BERDE (Building for Ecologically Responsive Design Excellence) Certification, the highest rating from the Philippine Green Building Council.

To support sustainability goals, AIC estates also offer renewable energy integration, real-time energy and water monitoring systems, efficient waste management, and green mobility infrastructure, the company said.

“Our investments in smart utilities and resilient infrastructure are designed not only for today’s requirements but to meet the demands of future industries,” it added.

CBRE projects around 79,669 square meters of additional industrial space this year, with most of the upcoming supply located in Laguna, Cavite, and Batangas.

Source: Business World