PropertyGuru Challenges Cebu’s Developers to Set New Industry Standards

The PropertyGuru Philippines Property Awards 2023 is set to push outstanding real estate developers from Cebu, Visayas, and Mindanao to raise the bar in the industry. Presented by Kohler and supported by Boysen Paints, the 11th annual awards event challenges competitors to set a new benchmark of quality in the domestic property market.

According to Property Report by PropertyGuru, the Official Magazine of the Awards, condominiums, house-and-lot units, and property markets in Cebu and outside Metro Manila have experienced rapid appreciation, recording impressive annual price growth rates in 2022. Completion of transport infrastructure developments such as the Cebu-Cordova Link Expressway has attracted major developers to Cebu. Moreover, outsourcing firms are also driving demand for office space in Cebu and other provinces, with take-up from outsourcing companies reaching 149,800 square meters in 2022, covering 86% of the transactions in Cebu, Davao, and Pampanga, according to research by Colliers Philippines.

Chairperson of the independent judging panel of the PropertyGuru Philippines Property Awards and president of TAJARA Leisure & Hospitality Group Inc., Cyndy Tan Jarabata, has observed significant changes in the competition over time. She notes that the awards have become more equitable and decentralized, with recognition now extending to boutique developers and companies based outside of Mega Manila, such as in Cebu and Davao. In fact, some of these provincial developers have achieved top awards, surpassing even the larger companies based in the capital. As a result, the PropertyGuru Philippines Property Awards have successfully leveled the playing field and provided opportunities for outstanding developers to shine, regardless of their location within the archipelago.

The PropertyGuru Philippines Property Awards has been part of the evolution of Cebu from a vibrant resort destination to a prosperous, self-contained property market. In fact, the winning developers from Cebu at the 10th PropertyGuru Philippines Property Awards 2022 went on to garner regional ‘Best in Asia’ honors at the 17th PropertyGuru Asia Property Awards Grand Final. 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.

Moreover, Cebu Landmasters, Inc. received multiple awards, including the Best Developer (Visayas) and Best Developer (Mindanao) titles, at the 10th PropertyGuru Philippines Property Awards 2022. Homegrown Davao developers Damosa Land, Inc. and UrbanEast Developments, Inc. also received winning titles, including those for developments such as Ameria and The Gardens at South Ridge. Torre Lorenzo Development Corporation and Grand Land Inc. also earned winning titles for their Mindanao projects, namely, Dusit Thani Lubi Plantation Resort and The Piazza, respectively.

Jules Kay, general manager of PropertyGuru Asia Property Awards and Events, is excited to see how Cebu developers will raise the Gold Standard once again in 2023. The most exclusive night for Philippine real estate in 2023 will take place at the main ballroom of the Fairmont Makati hotel on Friday, 29 September. The independent panel of judges, comprising experts in diverse fields such as real estate consultancy, architecture and interior design, and sustainable development, will rigorously deliberate over eligible entries to the Awards. HLB Philippines, the Official Supervisor of the Awards, will ensure the full use of a professionally run and fully transparent judging system, with an established reputation for fairness, credibility, and integrity.

Winning the PropertyGuru Asia Property Awards is the highest honor in regional real estate, offering unparalleled networking opportunities at the most exclusive real estate event of the year. The awards event is a respected mark of excellence that can earn your team the Gold Standard recognition in the region’s real estate industry. Only the biggest and boldest achievers are recognized at the domestic and regional level, gaining regional exposure via PropertyGuru’s network of 44 million consumers and agents.

The main country winners of the awards in the Philippines will qualify to compete for regional honors at the 18th PropertyGuru Asia Property Awards Grand Final 2023 on 8 December in Bangkok, Thailand. Nominations and entries are being accepted online until 14 July 2023 at asiapropertyawards.com/nominations.

Established in 2005, the PropertyGuru Asia Property Awards continue to reward high-calibre work within the industry, encompassing property development, construction, architecture, interior design, and sustainable building practices. The series has expanded over the years to cover the region’s dynamic property markets, including Australia, the Chinese markets, Greater Niseko in Japan, and India.