FOLLOWING its announcement to expand its tourism portfolio, Cebu-based property Enrison Land Inc. will also strengthen its foothold in the residential and commercial segments.
Managing Director Enrilen Joy Benedicto said that due for launching this year is a business process outsourcing (BPO) building at the Cebu IT Park. A residential project is also in the planning stage.
Benedicto said they remain confident and aggressive in pouring more investments to Cebu because of the province’s growing local economy as shown by the robust business activities.
“Cebu is growing fast and we’d like to be part of such strong growth,” she said.
The planned residential project is poised to cater to the middle to high-end market.
Similar to its three upcoming resort projects, developments in the home segment, according to Benedicto, are for those who appreciate good design and high building standards.
The company is also planning to expand its presence outside Central Visayas, particularly in areas where there is high growth potential.
The continued rise in spending and business activities will keep the real estate scene buoyant this year.
Real estate advisory firm, CBRE Philippines, said the continued look-out for cost-effective locations for by global business process firms will continue to drive growth in the office space while the strong inflow of overseas remittances will continue to sustain mid-market housing and the continued influx of expatriates, foreign investors and high net-worth of individuals will drive the demand for luxury housing.
Philippine Allied Chamber of Real Estate Brokers and Licensed Salesmen (PhilAcre) president Anthony Leuterio said demand for property rental in both commercial and residential project will get more exciting.
“Rental will be a great enterprise in 2015. More offices will be opening in Cebu, and more will be needing housing units,” he said.