Following the unprecedented shocks and disruptions caused by the COVID-19 pandemic, many are now looking forward to 2021 as a period of gradual recovery and revival.
It would, however, take a different kind of mettle, expertise, financial stability and flexibility for beleaguered businesses to survive the ill-effects of this public health and economic crisis. This time, it’s no longer enough to simply have excellent crisis management strategies or response plans in place. In this pandemic, having strong, solid fundamentals will be key to a company’s return to sustainable growth.
Take the case of property developers. During the quarantine, they needed to find ways to touch base with clients even during the harsh lockdowns, quickly and stringently roll out the new safety and health protocols in their respective projects, and to continuously innovate to remain attuned with the sudden changes in market demand and preferences. At the same time however, it was also highly crucial for them to have a diversified portfolio, prudent approaches to spending, strong balance sheet and a solid track record of successful projects.
These are exactly what had set Ortigas Land apart. This seasoned developer draws from its invaluable expertise, prowess and experience culled and honed from nine decades of creating landmark projects across the metro. More notably, it has weathered and thrived amid the economic boom-and-bust cycles and political upheavals that this country has gone through over the last 90 years.
Ortigas Land’s resiliency is to truly be admired and respected as it allowed this company to keep its business intact despite the devastating impact of the pandemic.
Today, along with its partners Ayala Land and SM Prime, Ortigas Land continues to be that agile organization with a culture built around resilience, grit and teamwork. In fact, it is well poised to launch residential projects this year even as the Philippine economy has yet to make a full recovery.
On Thursday, it was announced that the Philippine economy shrank by a record 9.5 percent in 2020, said to be the country’s worst post-war recession. Despite this, some quarters remained cautiously optimistic of a recovery on the back of “fresh policies to be implemented by the government to arrest the downward trend of the economy this year” and other stimulus measures to help put industries like real estate back on a growth track, said Claro Cordero Jr., director and head of research, consulting and advisory services at Cushman & Wakefield.
Santos Knight Frank chairman and CEO Rick Santos said in a briefing earlier this week that they see “the new year as a promising time for real estate sectors such as industrial and logistics, office, residential, REITs and data centers, among others.” He further reported that the residential market is “likely to display a slow but steady rebound overall.”
Similarly, Janlo de los Reyes, head of research and consulting at JLL Philippines, said in a briefing Thursday that they expect lease and sale markets in the residential segment to recover this year albeit on a slower pace.
Developers, however, will have to highlight their property management measures and integrated features if they want to tap current demand, said Colliers International Philippines’ senior research manager Joey Roi Bondoc. Given the emphasis on safety and convenience amid this pandemic, Colliers encourages developers to highlight “the integrated features of their residential projects as this is likely to be among the major considerations of unit owners post-lockdown and COVID-19 pandemic. Developers should continue to highlight the sanitation and property management procedures implemented within their projects.”
At present, Ortigas Land has four masterplanned estates—integrated communities that aptly address the modern urban dwellers’ need for convenience, accessibility, as well as technology-enhanced and enabled features.
These include the 16-ha Greenhills Center, where a massive P60-billion redevelopment plan is underway; the 10-ha Capitol Commons, touted as a new destination for luxury living; the 10-ha Circulo Verde, envisioned to be a suburban sanctuary in the city; and the 16-ha Ortigas East, a sustainable estate along the bustling C-5 corridor. Ortigas Land is likewise developing its other existing assets within Ortigas Center, including The Galleon, an upcoming two-tower mixed-use development set to rise in the heart of this business district.
Much indeed is to be admired of Ortigas Land—its resiliency and tenacity, as well as the legacy of 90 solid, exceptional years of creating landmark projects in the metro.
#realestateblogph | #realestateblogphpropertynews | #REBPH | #realestate | #OrtigasLand | #Condo | #sustainablegrowth | #SantosKnightFrankPH
Article and Photo originally posted by Inquirer last January 30, 2021 3:05am and written by Amy R. Remo.
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