Colliers International: Pampanga a condominium hotbed in the next three years

Colliers International, a top-tier global real estate and investment management company operating in 69 countries, cited the aggressive construction of vertical projects (condominium) in Pampanga, making it the ‘condo hotbed’ in Central Luzon for the next three to six years.

“We see more condominium projects being developed within Clark, Angeles and San Fernando (Metro Clark). Among the property developers that have established presence in Pampanga are Ayala Land, Megaworld, Filinvest, 8990, SM Development, Vista Land, Century Properties and Torre Lorenzo,” Kapampangan-native and Colliers International Research Manager Joey Roi Halili Bondoc said in his presentation coined ‘Clark, Pampanga: The Next Major Business Hub’ on Friday at the Wooden Table, Clark, Pampanga.

According to Bondoc, there are around 2,200 condominium units in Metro Clark which represents only 2.4 percent of Metro Manila’s condominium stock and about 6.5 percent of Cebu’s.

Despite its infancy in Pampanga, Colliers believes that the condominium market in Pampanga will become more vibrant with the completion of infrastructure projects which include the expansion of Clark International Airport, Manila to Clark passenger rail and Skyway Stage 3.

These are seen to spur business activities and drive the demand for residential support to overseas Filipino workers looking for viable investment options and the increase in foreign tourist arrivals looking for units to live and invest in.

Meanwhile, Bases Conversion and Development Authority President and CEO Vince Dizon presented the Build Build Build projects in North Luzon, and Clark Development Corporation Vice President of Business Development and Business Enhancement Group Evangeline Tejada put the accent on updates on development inside Clark.

The two-hour panel session is in partnership with the American Chamber of Commerce of the Philippines (AmCham) North Luzon Chapter, a non-government organization of business leaders in the Philippines.