Hongkong Land remains confident in PH real estate market

·3 min read

HONGKONG Land is committed to its promise of building lasting value and bringing world-class development to the Philippines, as the company envisions communities that will enhance the environment, champion local passions and power economic growth.

Tan Wee Hsien, director and head of Development Property of Hongkong Land, South Asia, said, “With the Philippines being one of the fastest growing economies in Southeast Asia prior to the pandemic, Hongkong Land remains confident in the real estate market of the country amid the challenges posed by the Covid-19 pandemic.”

With strict implementation of protocols to ensure the health and safety of its workforce and seamless business operations, all ongoing Hongkong Land projects are progressing as planned in the Philippines, with more exciting developments in the future.

Mandani Bay is the 20-hectare mixed-use waterfront development in Mandaue City, Cebu, with Taft Properties as its joint venture partner. By the first quarter of 2021, Hongkong Land will start turning over to unit owners the first two residential towers named Mandani Bay Suites. Construction is in full swing for Phase 2 of the development, the Mandani Bay Quay, with three residential towers and one office tower all being constructed at the same time. With the strong market response and take-up of Mandani Bay, Phase 3 is in the final planning stage and is set to launch by the second half of 2021. The construction of the 2.5-hectare boardwalk is also set to commence by the first quarter of 2021.

The Two Roxas Triangle, a luxury residential condominium project with Ayala Land Premier located right in the heart of the Makati Central Business District, is currently turning over residential units to its owners.

Hongkong Land has also released for pre-sale early this year The Velaris Residences, a three-tower development within the Bridgetown Business Park development in Pasig City, Metro Manila. This project is to be developed in partnership with Robinsons Land Corp.

Hongkong Land continues to look for investment opportunities in the Philippines and is optimistic that the real estate market will remain steady, bouncing back bigger and stronger once the economy recovers.

Hongkong Land is a major listed property investment, management and development group. Founded in 1889, Hongkong Land’s business is built on excellence, integrity and partnership.

The group owns and manages more than 850,000 square meters of prime office and luxury retail property in key Asian cities, principally in Hong Kong, Singapore, Beijing and Jakarta. Its properties attract the world’s foremost companies and luxury brands.

The group’s Central Hong Kong portfolio represents some 450,000 square meters of prime property. It has a further 165,000 square meters of prestigious office space in Singapore mainly held through joint ventures, a luxury retail center at Wangfujing in Beijing and a 50 percent interest in a leading office complex in Central Jakarta. The group also has a number of high-quality residential, commercial and mixed-use projects under development in cities across Greater China and Southeast Asia. In Singapore, its subsidiary MCL Land is a well-established residential developer.

Hongkong Land Holdings Limited is incorporated in Bermuda and has a standard listing on the London Stock Exchange, with secondary listings in Bermuda and Singapore. The Group’s assets and investments are managed from Hong Kong by Hongkong Land Limited. Hongkong Land is a member of the Jardine Matheson Group. SPONSORED CONTENT