Thanks to the continued positive outlook on the economy and the projected expansion of the outsourcing industry within the next five years, the housing sector is expected to grow even more robustly, particularly those in the price range between P750,000 and P3 million.
“A lot of developers have projects that fall between this range. We believe that we could address the housing backlog more effectively if we build more homes that are within the homebuyers’ financial capability,” said Romarico Alvarez, chair of PA Properties.
The Philippine housing backlog, which is a result of the higher demand in the market than the supply, currently stands at 5.5 million, according to the Subdivision and Housing Developers Association.
As the Laguna-based company celebrates its 21st anniversary, Alvarez said they have gone to previously untapped locations to build their current and future projects.
“Thanks to the slowly improving road networks, PA Properties decided to invest in Batangas where we are building NuVista Lipa, a 12.8-hectare property strategically located at Antipolo del Norte, which is in a valley between Mount Malarayat and Mount Makulot,” said Jonathan Lu, president of PA Alvarez.
He said this is a followup to the one the company built in San Jose del Monte, Bulacan. “We are so inspired by the success of NuVista San Jose, a sprawling 30-hectare community of around 2,800 homes, that we decided to do a similar one in Batangas. We noted that homebuyers appreciate communities that offer complete amenities including commercial establishments that would enable the residents to travel less should they need to buy stuff for their homes,” explained Lu.
Evolving
Added Alvarez: “As a developer, we are also evolving—a reason why our theme this year is Turning a New Leaf at 21. From just building quality homes that could be afforded by most Filipino families, we realized our buyers also long for residential developments that could provide them opportunities and tools to build assets, to participate in their communities, and to become part of the mainstream economy.”
Alvarez shared that the company has become more than just a residential community and condominium developer.
“Very soon PA Properties will venture into commercial developments as we strive to provide sustainable communities, wherein the most important basic needs of a family such as church and school will be accessible,” said Lu.
Like the two NuVista developments, the company’s current and recently completed projects are communities that not only are located on main thoroughfares but also offer a mix of uses, with many of its residents’ daily needs within a short walk or ride of their home.
“Whether we are building sprawling communities like the Bridgepointe Place in San Fernando, Pampanga, St. Joseph Ridgeview in Dasmariñas, Cavite, and St. Joseph Homes Cabuyao in Laguna, or midrise condominiums like San Jose Residencias in Sta. Rosa, Laguna, we aim to integrate a mix of uses closer together, including greater access to options for dining out, shopping, transportation, recreation, education, employment, and even place of worship,” said Lu.