Real Estate Developers Plan Countryside Expansion in 2024; 600 Professionals to Gather in Cebu This Month

Real Estate developers are forecasted to initiate massive expansion projects in the Visayas and Mindanao regions in 2024 giving high opportunities for brokers and salespersons.

Filipino Homes Founder and CEO Anthony Leuterio said “national players” are actively exploring prospective expansion locations in Southern Luzon, Visayas, and Mindanao regions.

Aside from Cebu, Leuterio said promising areas with “high market appetite” that developers are looking into include Ormoc, Tacloban, Camarines Sur, Dumaguete, Iloilo, Bacolod, Butuan, Cagayan de Oro, Ozamis, Iligan, General Santos, Zamboanga, and Davao.

“Developers have focused on land banking this year, anticipating that by 2024, which is just around the corner, it will present an excellent opportunity to initiate more projects in the countryside,” he said.

Leuterio also advised developers to focus on building houses with prices ranging from P3 million to P4 million. Condominium developments, he added, remain the top preference for these markets, especially among the overseas Filipino workers.

“My advice for developers is to build condos that will replace the house and lot but the price must be mid-range because that is the bigger pie today,” he said.

To prepare for the opportunities in 2024, the Filipino Homes network across the country will gather over 600 members to its annual national convention on October 22 and 23 in Lapu-Lapu City.

This annual event is offering a platform for real estate professionals to network, share insights, and acknowledge the remarkable contributions of their peers.

Awards such as Best Developers in the Philippines, Best Rent Managers in the Philippines, and Best Brokerage Agents in the Philippines will be presented on the first day of the convention.

The highlight will be the prestigious awards gala, on the second day, where the industry’s finest national awardees from over 30 major cities in the Philippines from Luzon, Visayas, and Mindanao, will be honored for their exceptional work. A house, lot, and brand-new car will also be given away during the convention.

“We have chosen a group of developer speakers to take the  ‘Hot Seat’ segment at our convention. They’ll be sharing their visionary strategies and plans for 2024,” said Leuterio. He went on to emphasize that this engaging discussion will provide delegates with a sneak peek into the upcoming year and shed light on the future landscape of the industry, particularly in terms of its evolving developments.

Their annual convention will be joined by Jose Franco Soberano, senior executive vice president, and chief operating officer of Cebu Landmasters Inc.; Carson Choa, chief operating officer, and Cesar Wee, founder and chief executive officer of Wee Community Developers; engineer Slater Young of Monterrazas Prime; architect Ramble Bait, chairman of Italians Development Corp.; and, Paulo Padilla, chief operating officer of Sterling Land Residences and Development Inc.. (ZAG)