Local developer pours more post-pandemic investments

CEBU, Philippines —  Despite the threat on health safety, local developer AppleOne Properties Inc., will put money on constructing more service offices, flexible spaces and virtual office to brace for post pandemic.

AppleOne president and chief executive officer (CEO) Ray Go Manigsaca expressed optimism on the real estate business in the Philippines, particularly Cebu, although other types of developments may shift to cater a different market demand under new normal.

Likewise, the company will continue to build integrated residential and commercial developments, indicating that real estate capitalists continue to see a promising business, especially after the launch of the vaccine.

“We see the need of the market for more integrated developments that help elevate people’s lives and uplift their lifestyles, as well as the inclusion of a health and wellness center inside the mall to complement the growing needs of consumers for better integrated facilities that give value to their lives,” he said.

In fact, its integrated development named Mahi Center in Mactan is in full swing in terms of construction.

 “Although it may take time for things to normalize again, we can already see that people are gradually transitioning their behaviors, their attitudes and lifestyles towards the new normal, which is even evident in their rekindled confidence to invest again in real estate,” explained Manigsaca.

As consumer priorities shift, so with the real estate demand.

“We are seeing people giving more value to the luxuries of space, safety and security, convenience and accessibility, leisure and wellness and top health, to name a few,” he said.

“We know things will eventually normalize again, when the vaccine becomes available to the majority, however we know not to wait for this; this has not stopped us from continuing to move forward, instead it has propelled us to evolve as a company and find ways to reconfigure our strategies for growth and resilience,” he added.