Lamudi sees heightened developer confidence with rise in ad spending

ONLINE property marketplace Lamudi Philippines said developers are increasing their spending on online advertising as they continue to launch new projects this year.

“The outlook is bright. We are seeing more confidence from developers as they continue to launch new projects and increase their advertising spending online,” Lamudi Philippines Associate Director for Corporate Accounts Mark Bailey told BusinessWorld on May 5.

Mr. Bailey added that one of the key opportunities this year for developers is international marketing to overseas Filipino workers, following a record year of remittances.

Data from the Bangko Sentral ng Pilipinas showed that cash remittances rose 2.5% to $2.74 billion in March from $2.67 billion in the same month last year.

“While we enable a seamless property search journey online with lamudi.com.ph, there will always be a need for face-to-face interaction when considering an investment,” Mr. Bailey said, referring to the Lamudi Property Fair held from May 3 to 5 at TriNoma Activity Center.

The three-day fair allowed real estate developers to open stalls and offer deals, discounts, and promotions to property seekers.

Mr. Bailey said the fair brought the property-seeking audience closer to its partner developers such as RLC Residences, Ayala Land, Avida, Amaia, Aboitiz Land, PH1 World Developers, Filinvest Alabang, Vista Land, and BPI Buena Mano.

Taylormade Construction and Realty Corp., Picar Development Corp., Community Creators, Inc., Eton Properties, DMCI Homes, Hausland Development Corp., and Primehomes Real Estate Development, Inc. were also present.

Lamudi Philippines Associate Director for Brand Marketing Carlo Rosales said the company is also set to go to Cebu as part of its plan to cater to an expanded audience in the Visayas-Mindanao region.

The anticipated Cebu leg is set for Aug. 16 to 18 at Robinsons Galleria Cebu, marking a comeback from the two-day expo in 2019.

Lamudi said this was brought about by the key insights from its 2023 Real Estate Hotspots Unwrapped, which showed a rising interest among condo buyers in Cebu, coupled with the city’s improving infrastructure. — Aubrey Rose A. Inosante

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The article was originally published in Business World.