Top 13 Real Estate Property Developers in the Philippines

Last Updated on – Jun 21, 2023 @ 7:34 am

The real estate market in the Philippines has been on a steady rise and does not show any signs of slowing down soon.

With increasing demand both within and outside of Metro Manila, expect even more projects and land to be developed in the next couple of years.

What is Real Estate / Property Development

Real estate and property development is a business process which includes the buying and selling of both raw and developed land, as well as the renovation or development of existing structures (buildings, establishments, residences, etc.,).

These activities are managed by real estate developers. They buy land, provide funding for real estate deals, build or connect with construction companies to develop the land.

Why Invest in Philippine Real Estate

Top real estate and investment management firm JLL ran a piece back in January revealing their bullish outlook on the real estate industry in the Philippines.

They predict favorable conditions overall: The demand for real estate space by the BPO sector as well as increasing demand from emerging real estate stakeholders like technology companies and flexible space operators will continue to make significant inroads into the Philippines’ property market in 2019.”

The cultural shift led by the millennial generation to a community-based lifestyle will drive the popularity of co-working and co-living in the Philippines. The increasing demand for co-working spaces will encourage more foreign flexible space operators to increase their presence in 2019.

But it’s not only in the office sector where things are projected to boom.

Here are some of their insights on specific markets:

Residential

• Upper-mid to luxury segments still continue to have strong demand
• BGC and Makati expected to benefit from high demand for office spaces from BPOs and online gaming firms. The influx of expats working for these offshore businesses also drive growth for the leasing market in Makati and BGC
• Strong rental rate growth especially in Bay areas (Pasay and Paranaque)
• BSP revealed an increase in residential condo prices in Metro Manila by up to 6.4% year-on-year

Hospitality

• Increase in demand for real estate investments in the Bay area (3,000 rooms added)
• Some of the notable establishments completed: Grand Hyatt, Citadines Bay City Manila, and Hilton Manila City.
• A cumulative 7.4% year-on-year growth on tourist arrivals was posted in 2018 despite the closure of Boracay for a couple of months
• Hotel-casino establishments in Paranaque (envisioned to be the Las Vegas of the Philippines) command the highest prices per room

Retail

• Additional 348,900 sqm of retail space was completed in 2018
• Vacancy rates for retail shopping centers are still low at 3.7%
• Strong demand for retail spaces by both local and foreign brands (fashion segment leading the way) drove rental growth up
• Solid macroeconomic environment in the country fosters growth especially with the relaxation of the Trade Liberalization Act that should result in increased foreign investments
• The government has started discussions about the implementation of Real Estate Investment Trust (REIT) law which is expected to help draw more foreign investments

Colliers Philippines, a leader in Commercial Real Estate services, advises that flexibility, or the ability to adapt to changes brought about by emerging trends and economic factors, will be crucial in the success of the property market in 2019.

Related Guide: A Foreigner’s Quick Guide to Real Estate Investing in the Philippines

Here are some of the factors they said will affect the outcome of the real estate market in 2019:

• The government’s aggressive infrastructure development will dictate the strategy of developers. Firms will be more open to acquiring land in Northern and Southern Luzon.
• Strong demand for office space will carry on in 2019
• Flexible workspaces are starting to get more traction. It’s expected to rise at least 10% yearly
• Luxury residential market remains strong
• Food and beverage, fashion segment, drive retail markets

Related: 12 Best Investments under P100K in the Philippines

10 Best Cities to Invest in Real Estate in the Philippines

Choosing which cities to pick when it comes to real estate investing is no easy task. And doubling down on a specific location simply because it’s popular isn’t going to guarantee instant ROI either.

There’s just too many factors and stuff that goes into investing in general that it will be hard to recommend a winner based on location alone.

However, we can take a look at which areas are the go-to picks of some of the country’s biggest property developers and perhaps use that as a reference to determine which cities are considered to have the strongest demand and ROI potential for real estate investing.

Here’s a quick list of the annual growth rate (property appreciation) in some of the most developed cities in the country. This should help you determine how much returns you can get from your investment.

And below is a list of cities ranked according to the most number of real estate projects and properties by developers featured on the following section. (Source)

1. Quezon City

• Strong business climate
• Highly urbanized
• Easily accessible via a wide range of transport systems
• Top leisure spots (restaurants, malls, parks, etc.,)
• Home to some of the top medical facilities
• Major government offices are located here

2. Taguig

• Has established itself as a strong financial district
• Development of infrastructures for new businesses has been on the rise in the last few years
• Has a high demand for high-end residential and commercial spaces
• Plenty of leisure spots

3. Makati

• Home to top local and international corporations and businesses, considered as the financial center of the country
• Easily accessible via almost all methods of transportation
• Highly urbanized
• Has all the facilities and establishments to support modern living (schools, hospitals, malls, companies, etc.,)
• Big POGO (Philippine Offshore Gaming Operation (POGO) market

4. Manila

• Home to heritage sites, the seat of Philippine National Govt
• Bay Area (Manila Bay Freeport Zone) has been experiencing dramatic growth in real estate development due to the influx of POGO players and employees
• Strong cultural background
• Home to some of the top universities and schools
• Strong retail and market activity

5. Pasig

• Ortigas CBD continuously attracts development of both residential, commercial and business properties around the area
• Real estate development has been on the rise in the past few years
• Plenty of commercial establishments (F&B, malls, bars, etc.,)
• Easily accessible via land and water (they have a river ferry service)

6. Mandaluyong

• Shaw Boulevard-Pioneer area is home to some of the country’s top food and medicine manufacturers, also houses numerous BPO companies
• The area has seen a steady rise in the development of both residential and commercial spaces
• Greenfield district
• Easily accessible

7. Cebu & Davao

• Booming BPO and IPO businesses attract plenty of investors
• Demand for residential condos has been on the rise
• Urbanized but hasn’t lost its provincial touch thanks to its beaches and tourist spots
• Davao posted a 9.4% growth in 2016, besting the country’s overall growth
• Luxury condos are increasing in development signaling growth in demand from the high-end segment

8. Pasay & Paranaque

• Flourishing business district
• Paranaque is home of PAGCOR Entertainment City (Solaire Resort and Casino, City of Dreams Manila, Okada Manila, and soon-to-open Westside City Resorts World)
• Philippine Offshore Gaming Operation (POGO) gives its real estate market significant boost in clientele
• Near airports and main thoroughfares
• Plenty of malls and commercial establishments

9. Santa Rosa & Calamba

• Calamba is dubbed as the “Richest City in Calabarzon” and tagged as one of the next wave cities for outsourcing firms
• Calamba is a haven for various industries and companies (IT Parks, food processing plants, semiconductor companies, automobile, etc.,)
• Santa Rosa is considered the richest city in South Luzon in terms of annual income
• Santa Rosa is home to special economic zones and industrial parks

10. Imus & Dasmarinas

• Both cities have seen a rise in income earning in the last few decades
• Both cities serve as a preferred site for industrial establishments
• Ayala Land invested P70 billion for developing Vermosa estate, located between Imus and Dasmarinas
• Continuous development of lands and modernization has been happening in the last couple of years

Top 13 Real Estate Property Developers in the Philippines

1. Ayala Land

The company specializes in planning and development of large scale projects which involves the following: residential lots and buildings, commercial and industrial lots, office spaces, and commercial and IT parks.

They also engage in property management and construction.

• Specializes in: Malls, Residential buildings, Hotels and Resorts, Estates (Makati CBD, Ayala Center, McKinley Exchange, etc.,) Property management services
• They also own other services and properties like QualiMed (Health & Medical care), Merkado (Supermarket), AirSWIFT (Boutique airline)
• Price range of properties:
  • Condominiums – Php 1.4 million -5.7 million
  • Townhouse – Php 2.7 million – 7.1 million

Related: How to Invest in REIT in the Philippines

Below are some of Ayala Land’s current projects:

Want to invest in an Ayala Land property?

2. SM Prime

Incorporated in 1994, the company acquires and develops real estate initially focused on commercial shopping centers and spaces.

Currently, SMPH is in the business of constructing and managing condominiums, hotels, restaurants, convention centers, and all sorts of commercial and residential structures for mixed use.

• Specializes in: Malls, Residences, Commercial establishments, Hotels and convention centers
• Residences
  • SMDC (Grass, Vine, Berkeley, etc.,)
  • Hamilo Coast (Jacana, Miranda, Freia, etc.,)
  • Tagaytay Highlands (Woodlands, Horizon Terraces, Tivoli Place, etc.,)
• Commercial
  • Ecom Centers (TwoE-ComCenter, ThreeE-ComCenter, FourE-ComCenter, etc.,)
  • SM Cyber Offices (SM Cyber Makati One, SM Cyber West, SM Cyber Makati Two)
• Hotels & Convention Centers
  • Hotels (Taal Vista, Radisson Blu Hotel, Pico Sands Hotel, etc.,)
  • Convention Centers (SMX Convention Center)
• Malls
  • Philippine SM Malls
  • China SM Supermalls
• Price range of properties:
  • Condominiums: Php1-6 million (Low to mid-tier); Php 6 million-up (SMDC Premier condos)

Below are some of SM Prime’s current projects:

Want to invest in an SM Prime property?

3. Megaworld

Initially launched with a focus on the development, leasing, and marketing of real estate. One of the pioneers in providing office buildings to BPO companies starting with Eastwood City.

The company’s portfolio includes real estate development of residential projects (subdivisions, condominiums, townhouses), office space leasing mainly to BPO and retailers, and hotel operations management.

• Specializes in: Residences, Offices, Hotels, Malls, Township
• Price range of properties:
  • Condominiums: Php 2.5 million and up

Below are some of Megaworld’s current projects:

Want to invest in a Megaworld property?

4. Alveo Land

Alveo Land specializes in luxury residences, condominiums, Cityscapes, leisure developments, and commercial spaces & offices – mainly serving the upscale market in the Philippines.

Here are some of Alveo Land’s current projects:

Want to invest in an Alveo property?

5. DMCI Homes

DMCI Homes is the real estate and development arm of DMCI Holdings. They focus on building residential spaces and condominiums.

• Specializes in: Residences (Condos and house & lots)
• Price range of properties:
  • Condominiums: Php 2.5 million and up

Here are some of DMCI’s current projects:

Want to invest in a DMCI property?

6. Federal Land

The company is a partner of the Metrobank Group and a member of GT Capital Holdings.

It launched in 1972 as Federal Homes Inc. and established itself as a prime real estate developer in the last few decades.

• Specializes in: Residences (Condos and house & lots), Malls, Offices, Hotels, Townships (mixed-use)
• They also offer leases for condominiums, offices, and commercial spaces.
• Price range of properties:
  • Condominiums: starts at Php 1.8 million
  • House & Lots: 2M to 6M

Below are some of Federal Land’s current projects:

Want to invest in a Federal Land property?

7. Robinsons Land Corp.

RLC is the real estate investment arm of JG Summit Holdings.

They are engaged in the development and operation of hotels and shopping malls, office, and residential buildings, and other related structures meant for mixed-use purposes.

• Specializes in: Malls, Residences (Condos, house and lots, and townhouses), hotels, offices
• Price range of properties:
  • Condominiums: starts at Php 1.8M
  • Townhouses: starts at Php 1.5M (provincial areas)

Below are some of Robinsons Land Corp’s current projects:

Want to invest in a Robinsons Land Corp property?

8. Vista Land and Lifescapes

VLL develops residential subdivisions and constructs housing spaces and condominium units.

They own 88.34% of Starmalls Inc., which develops, leases, and manages shopping malls and commercial centers around the country.

• Specializes in: House and lots, condominiums, serviced apartments
• Price range of properties:
  • Townhouses: starts at Php 700k (provincial areas)
  • Condominiums: starts at Php 1.6M

Below are some of Vista Land and Lifescapes’s current projects:

Want to invest in a Vista Land and Lifscapes property?

9. Filinvest Land

FLI’s main line of business is real estate construction, management, and leasing.

They focus on creating residential estates (house and lots, condominiums, farm estates, and more) and leasing spaces for retail and office purposes.

• Specializes in: Residential, House and lots, condominiums, offices, cityscapes
• Price range of properties:
  • House & Lot: starts at 2.8M (provincial areas)
  • Condominiums: starts at Php 2.8M

Below are some of Filinvest’s current projects:

Want to invest in a Filinvest property?

10. Shang Properties

The company’s core business is in office and retail leasing, and residential space development.

They own and operate the Shangri-La Plaza mall and holds a 60% stake at the Shangri-La The Fort. In the last few years, their focus shifted to building high rise condos in prime locations.

• Specializes in: Condominiums, Malls, Hotels & Resorts
• Price range of properties:
  • Condominiums: starts at Php 2.9M

Below are some of Shang Properties’ current projects:

Want to invest in a Shang property?

11. Century Properties

The company is engaged in developing, marketing, and sale of single detached homes and mid and high-rise condos. They also offer retail and office space leasing and property management services.

• Specializes in: Condominiums, House & Lots,
• Price range of properties:
  • Condominiums: starts at Php 2.2M
  • House & lots: starts at Php 4M (Batangas)

Below are some of Century Properties’ current projects:

Want to invest in a Century property?

12. Empire East

As a real estate developer, builder, and seller, the company’s focus is on mid to high-rise condo towers within urban metro.

Outside of Metro Manila, their core products are mainly single-detached homes and house and lots.

• Specializes in: Condominiums, House & Lots,
• Price range of properties:
  • Condominiums: starts at Php 1.7M
  • House & lots: starts at Php 3.9

Below are some of Empire East’s current projects:

Want to invest in a Empire East property?

13. Rockwell Land

The company’s operations are divided into residential and commercial space development and hotel operations. Their core products include high-rise condos, retail and office space leasing, and hotel business.

• Specializes in: Condominiums, House & Lots,
• Price range of properties:
  • Condominiums: starts at Php 1.7M
  • House & lots: starts at Php 3.9

Below are some of Empire East’s current projects:

Want to invest in a Rockwell property?

Related Guide: How to Invest in Hotel Rooms in the Philippines