ORGANIZERS of the PropertyGuru Philippines Property Awards had added two new categories for this year’s recognition.
Cyndy Tan Jarabata, chairperson of the independent panel of judges of the PropertyGuru Philippines Property Awards and president of Tajara Leisure and Hospitality Group Inc., said the award giving body is set to recognize developers in the field of co-living and socialized housing spaces.
“When we started the Philippine Property Awards the focus was really more on the luxury and high end because normally these are the developers who want to enter...But this year, we want to introduce ‘Best Socialized’ to cover all sectors of the market,” she said, during the recent Cebu leg media briefing.
“There’s a backlog of five million homeless Filipinos. (So we thought) as an award giving body, you shouldn’t only be giving awards to those in the luxury or big players, you also so have to give awards to those who really paid attention to the real lifestyle of people and the need of this country,” Jarabata explained.
The country’s housing backlog is expected to increase to 10.9 million by the end of 2028.
Socialized housing refers to housing programs and projects covering houses and lots or home lots only undertaken by the government or the private sector for the underprivileged and homeless citizens. Price ceiling on socialized housing is currently at P450,000.
A co-living scheme, on the other hand, is a style of purpose-built residential property, mostly comprising smaller, self-contained studio apartments that are usually located within prime locations, according to Colliers.
The concept is that residents spend less time within their smaller personal space and more time within the central communal areas, creating a community feel and enabling renters to benefit from the convenience of living in prime locations, while paying more affordable rents.
Last year, PropertyGuru Philippines Property Awards introduced the “Best Affordable” category. At the height of the lockdowns and the Covid-19 pandemic, the award giving body new categories “Best Co-Working” and “Best Alternative Housing.”
“We look at the market every year. We look at what is happening. The Philippines is so dynamic, that we actually have most things covered,” said Jules Kay, general manager of PropertyGuru Asia Property Awards and Events.
Now accepting entries
Jarabata and Kay were recently in Cebu to announce that the 11th Annual PropertyGuru Philippines Property Awards 2023 is now accepting entries from Cebu-based developers.
The 11th Annual PropertyGuru Philippines Property Awards 2023, presented by Kohler and supported by Boysen Paints, challenges Cebu’s outstanding real estate developers, along with emerging developers from the Visayas and Mindanao regions, to set a new benchmark of quality within the industry. Awards submissions are accepted online via: asiapropertyawards.com/nominations.
“Over the years, the PropertyGuru Philippines Property Awards have been part of the evolution of Cebu from a vibrant resort destination to a prosperous, self-contained property market in its own right. Our nominees from Cebu are no longer confined to local and national categories, but also successfully represent the Philippines at our regional Grand Final, even besting some of Asia Pacific’s finest real estate. We are excited to see how Cebu developers raise the Gold Standard once again in 2023,” Kay said.
Kay expects more Cebu-based developers will send in their entries on the back of a recovering and robust local economy.
Condominiums and house-and-lot units in Cebu and property markets outside Metro Manila appreciated fast and recorded impressive annual price growth rates last year, according to research by Property Report by PropertyGuru, the official magazine of the awards.
Meanwhile, the completion of transport infrastructure developments such as the Cebu-Cordova Link Expressway has boosted major developers’ interest in Cebu.
Cebu awardees
Last year, two Cebu-based properties bagged two international awards—AppleOne Mactan Inc. won Best Branded Residential Development (Asia) for The Residences at Sheraton Cebu Mactan Resort while Cebu Landmasters Inc. won Best Hospitality Architectural Design (Asia) for Sofitel Cebu City at the 17th PropertyGuru Asia Property Awards Grand Final held in Bangkok, Thailand.
“Over the years, the PropertyGuru Philippines Property Awards have evolved to become a healthier, more decentralized competition that spread wins not only among large conglomerates and big developers in Mega Manila but also boutique developers and companies based in the provinces, including those in Cebu and Davao. Many of them have risen to the occasion and won the top awards, performing even better than major developers in the capital. The awards have truly leveled the playing field and allowed outstanding developers to shine from anywhere in the archipelago,” said Jarabata.
The 11th Annual PropertyGuru Philippines Property Awards 2023 Awards Night will be held on Sept. 29, 2023, in Makati City. Winning developers will compete in the Regional Grand Final Gala Presentation in Bangkok, Thailand slated on Dec. 8. (KOC)