The Builders: 12 Top Real Estate Developers in the Philippines (Part 2 of 3)
Welcome back to our continuing series on the twelve must-watch real estate developers reshaping the Philippine skyline today! Last time, we looked at four industry giants who forever changed the way Pinoy mallrats shop, dine, and hang out.
On this go-round, we catch up to four more developers making waves in the residential, commercial, retail, and leisure markets. You are definitely going to recognize some of the names here, from a fresh upstart looking to transform Laguna for the better to the undisputed leader in ultra-luxe Makati living spaces.
Rockwell Land, Inc.
Established in 1995 by the Lopez Group of Companies, Rockwell Land Incorporated has quickly made a name for itself as one of the country’s top-tier real estate firms. In August 2012, Rockwell Land reached a 12-week high on the Philippine Stock Exchange and netted an enviable P1.1 billion in profits, a figure predicted to double within two to five years.
The firm’s flagship project, the sprawling 15.5-hectare Rockwell Center in Makati, remains its crowning achievement. A burgeoning high-end community containing all the urban essentials, the commercial and residential complex is set to add another feather to its cap with the launch of the 50-storey Edades Tower and Garden Villas.
Earmarked for a 2014 opening is the Lopez Tower and Museum, future headquarters for the Lopez Group with up to 20 floors of leasable office space. Also in the works is the Proscenium, a mixed-use development to be helmed by renowned Uruguayan architect Carlos Ott, who designed the L’Opéra de la Bastille in Paris. Ott has reportedly been commissioned to transform the 3.6 hectare site once housing Colgate-Palmolive’s Philippine headquarters near the Rockwell Center.
Setting a consistently high bar for its growing portfolio, Rockwell Land also seeks to expand its reach beyond its home turf with ongoing projects in Ortigas and Quezon City. Located along the C5 highway, The Grove boasts the same Rockwell standard with its emphasis on wide-open spaces, round-the-clock security and lush resort-style landscaping. The firm has also left its stamp in the commercial market with the 1.3-hectare Rockwell Business Center, situated in the Meralco compound. Meanwhile, 205 Santolan in Quezon City is Rockwell Land’s first foray into low-rise development with its luxurious townhouse units and accessibility to major business districts and schools.
In 2012, the developer announced plans to raise up to P7-billion for future projects, further expanding its reach in the residential sector under the Rockwell Homes brand. Unit sales from The Grove and 205 Santolan alone have led Rockwell Land to a 70% increase in profits for the first half of 2012.
Federal Land, Inc.
Leveraging brand recognition along with its 40-year track record in real estate, the property development arm of GT Capital Holdings, Federal Land, Inc. or “Fed Land” rides the country’s property boom. Its biggest project to date is a mixed-used complex located in The Fort worth $300-million or roughly P12-billion.
Set to rise in a 10-hectare land in the northeastern part of Bonifacio Global City, the project is a joint venture with the Japanese financial services group Orix Corp. To be managed by the Grand Hyatt Hotels Worldwide, the complex will feature prime office facilities, residential towers, and capped off by a 66-storey luxury hotel expected to be the tallest hotel in the country. With construction in full swing, the Grand Hyatt Hotel is slated for completion in 2015. Federal Land and Orix Corp. had an earlier joint venture project called The Grand Midori, a P4-billion twin-tower luxury condo in Makati.
In March of 2012, holding company GT Capital signed a memorandum of agreement to acquire the outstanding 20 percent share capital of its interest in the property subsidiary, thereby taking full control of Federal Land. The move is considered as part of the holding firm’s plan to use the proceeds of its recent P24-billion stock debut to boost Federal Land’s capital spending for 2012 through 2013 and bankroll its ongoing development projects. As of December 2011, Federal Land has 19 ongoing residential projects and a land bank of 100.8-hectares.
The property giant has certainly come a long way from its beginnings in 1972 as Federal Homes. In the same year Martial Law was declared, it launched its maiden residential project, Soler Tower in Binondo, Manila. Catering to the needs of the Filipino-Chinese community, it established its niche in the real estate business early on. It has dominated the Binondo business district and the adjoining areas of Ermita, Tondo, Roxas Boulevard, and Manila Bay with residential and commercial projects such as Bayview International Towers, Tytana Plaza, Dasma Corporate Center, Federal Tower, Ocean Tower, Escolta Twin Tower, and more.
Federal Land expanded its portfolio with its eventual foray into commercial development. In 1996, it completed its first Grade A commercial building, the Philippine AXA Life Center and in 2000, its flagship project with the iconic visual signature, the GT Tower. In 2002, the Ty family fully consolidated its real estate interests and Federal Homes took a new name – Federal Land, Inc. In the same year, it completed its first retail mall in Marikina, Blue Wave.
While keeping its roots in the Binondo area with newer projects such as Four Season Riviera and Riverview Mansion, it has also explored other prospects in and out of the metro. As early as 1994, Federal Land has started developing Metropolitan Park, a 40-hectare mixed-used complex in Macapagal Boulevard, Pasay City. The enclave now contains several projects such as Bay Garden Club and Residences, Six Senses Resorts, and event venues of Le Parc and Le Pavillon. Other residential projects in the metro by Federal Land are Marquinton Residences in Marikina, Capital Towers in Quezon City, Valencia Hills in Mandaluyong, and Park West in Taguig. Ongoing luxury condo projects called Marco Polo Residences and Two Residences are located in Cebu.
To further capitalize in the mid-market segment focusing on township developments, the subsidiary Horizon Land is established in 2009. Its projects are Peninsula Garden Midtown Homes in Paco, Manila, Tropicana Garden City along Sumulong Highway, and Florida Sun Estates in Gen. Trias, Cavite. Affordability, accessibility, and family-friendly environment are the key qualities of these township communities.
Eton Properties Philippines, Inc.
With only five years of industry experience under its belt, Eton Properties Philippines, Inc. is the youngest among the 2012 top 10 property developer awardees of the Hong Kong-based Business Continuity Institute (BCI) Asia, Inc. However, while it is relatively a new player to the real estate development game, the company has been around since 1971. Originally incorporated as an oil exploration and mineral development company, it filed for a change of corporate name in 2007, along with its turn to property development.
Interestingly, while Eton Properties Philippines, Inc. is only five years old in itself, its foreign affiliates, Eton Properties Group of China and Eton Properties Limited Hong Kong have already established more than 30 years of solid track record of prestigious developments in China and Hong Kong. Banking on such heritage, Eton Properties Philippines has launched within five years 43 projects encompassing the whole range of real estate development.
Its flagship development and first township project is Eton City in Sta. Rosa, Laguna. A full scale mixed-use development, it is composed of four distinct gated community projects namely, South Lake Village, West Wing Residences, Riverbend, and Tierra Bella. The residential division of Eton Properties focuses on developing high-end and mid-income luxury residences in Makati, Manila, and Quezon City. Its ongoing projects are One Centris Place, a 2-tower condo in Eton Centris and 8 Adriatico, located in Manila’s tourism and entertainment center while recent high-end projects include Eton Residences Greenbelt and Eton Parkview Greenbelt.
Under its subsidiary Belton Communities, Inc., Eton Properties Philippines also caters to the middle income market with projects such as North Belton Communities in Quezon City as well as the Westwing Residences in Sta. Rosa, Laguna. Another subsidiary, First Homes, Inc. serves first-time home buyers looking for affordable homes within the city. Its projects include Aurora Heights Residences in Quezon City and First Homes Makati.
Like many office property developers, Eton’s office and commercial portfolio are primarily geared towards IT and BPO companies. The key difference is location. With the launch of Eton Centris, a 12-hectare mixed-use development in Quezon Avenue, Eton Properties leads in the development of the emerging business district in the Quezon City Triangle. Consisting of seven buildings which includes the Cyberpod Centris, Centris Station, Centris Walk, specialty retail block, luxury residential condos, and a businessman’s hotel, Eton Centris is designed to be ‘a city within a city.’ The Eton Cyberpod Corinthian in Ortigas Avenue, on the other hand, is a low-rise campus style-designed office building that accommodates BPO firms, tech companies, as well as commercial establishments.
Century Properties Group, Inc.
As one of the top developers in the country, the Century Properties Group boasts a 26-year pedigree in real estate and property management. With over 50 hot-ticket properties in its ever-expanding portfolio, the Antonio-run firm recorded over PHP 24 billion in reservation sales in 2013.
Having bolstered its presence in the Taguig area with projects like Essensa East Forbes and South of Market, the company is now hard at work on Century City, its most ambitious project to date. Located along Makati’s Kalayaan Avenue, the 3.4-hectare integrated complex shall play host to several high-rise developments. Perhaps the most widely publicized of these is Trump Tower Manila, which marked its successful groundbreaking in 2012. Gramercy Residences, currently holding the record as the tallest skyscraper in the Philippines, opened its doors to the publithe same year. Following soon after is the completion of Knightsbridge Residences, inspired by one of the most fashionable neighborhoods in London.
Slated for a target completion date in 2015 are Milano Residences, a luxury condo with interiors by Versace Home, and Centuria Medical Makati, a cutting-edge outpatient facility done in partnership with GE Healthcare. Recently, Century Properties took a brave leap into the high-end retail sector with the grand opening of the Century City Mall. With up to 5 levels and 50,000 square meters of floor space, Century City Mall aims to be the next big success story in this shopping-obsessed metropolis. Telecoms throughout Century City shall be carried out through a strategic partnership between Century Properties and PLDT.
Other ongoing projects on the Century roster include Mandaluyong’s Acqua Private Residences, marketed as the metro’s first “residential Eden”; Azure Urban Resort Residences in Parañaque City, which has its own man-made beach and exclusive beach club designed with input by Paris Hilton; The Residences in Commonwealth, an eight-tower mid-rise development conceived with a more affordable price point in mind; and the Moderno at Canyon Ranch, a sunny residential community located in Carmona, Cavite.
Tune in to the conclusion of our series (Part 3), or read what came before (Part 1).
Checkout other residential properties and commercial real estates on Hoppler.com.ph.
