New Retail Real Estate Developments in Philippines
Retail development offers retail spaces, which can be cyclical and involve multiple stages. Retail development which comes under the category of commercial real estate development can include new stores, shopping centers, or other retail spaces.
Retail development significantly contributes to the generation of tax revenue for the government. Through sales taxes, property taxes, and other levies, the retail sector becomes a reliable source of revenue for public services such as healthcare, education, and supports the overall infrastructure development market.
Why Buy or Invest in New Real Estate Developments in Philippines.
The Philippines has been one of the fastest-growing economies in Southeast Asia. With a robust GDP growth, a rising middle class, and increasing consumer demand, real estate remains a strong investment option.
The government has been focused on infrastructure projects such as the "Build, Build, Build" program, improving transportation networks, and expanding public utilities. These developments make previously underdeveloped areas more accessible, thus increasing the value of real estate in both urban and rural areas.
With a young and growing population, there is increasing demand for both residential and commercial properties, especially in metro areas like Metro Manila, Cebu, and Davao. Condominiums, office spaces, and retail centers are highly sought after.
While there are restrictions on foreign land ownership, foreigners can own condominium units (as long as foreign ownership in the building does not exceed 40%). This opens up the market for international investors.
The Philippines is a popular tourist destination, and the government’s push for tourism infrastructure improvements (e.g., airports, resorts, and leisure developments) boosts the demand for rental properties, especially vacation homes, Airbnb-type rentals, and resorts.
Many new real estate projects in the Philippines are built with modern amenities, such as integrated shopping malls, parks, schools, and hospitals. This makes it an attractive option for both residents and investors.
