Roxaco bullish on upscale property sector

MANILA, Philippines—Surging demand for high-end real estate projects bodes well for the resort and leisure segments of the market, property developer Roxaco Land Corp. said yesterday.

In a statement, Roxaco Land senior vice president Santiago Elizalde said robust demand in the upper tiers of the market makes the firm optimistic about its Anya Resort and Residences development in Tagaytay City.

Described as a “high yielding real estate investment project,” Anya combines a luxury residential condominium with a boutique hotel experience and a health and wellness resort element.

“We are energized by the strong forecast and global interest in the Philippine real estate industry,” Elizalde said. “It validates the direction we have taken with our ventures, particularly with Anya that is envisioned to drive the luxury and leisure real estate investments sector.”

Earlier reports have noted that Asia-Pacific investors consider the Philippines one of the top real estate investment markets in the region, due to a fast-growing economy, the influx of outsourcing services from multinational companies and improvements in management and transparency in government.

Roxaco Land, the property development arm of Roxas and Company Inc., is firming up plans for Anya’s launch in the second quarter of 2014.

“Market trends are also reassuring for the luxury residential condominium sector, where Anya is poised to be a major player,” Elizalde said. “Its uniqueness as an investment allows for high-yield earning and high-end living for its investors. This is what makes Anya the investment of choice, all things considered.”

In a recent study of the luxury and leisure property investment sector, it was revealed that luxury condominiums have been in demand due to the consistent appreciation in capital values over the years, proving to be an attractive investment option.

Despite the slowdown in overall condominium sales in 2013, the luxury market sold almost 6,000 units and enjoyed a compounded annual growth of 80 percent in the last two years.

The survey noted that a market segment for larger-sized unit types catering to families, especially the expatriates and end-user markets, remain underserved.

Research also cited a demand for leisure and luxury weekend getaway formats, which include wellness and spa components, which jibe with the health and wellness industry’s expected increase at a 16 percent compounded annual growth rate over the next few years, as well as the country’s target to attain 10 million tourist arrivals by 2016.

There is, however, a lack of upscale short-stay developments offering such a format combination that is an hour’s travel from Manila.

“Anya is positioned precisely to fill this gap, especially in weekend-tourist haven Tagaytay, where established accommodations are mostly three-star quality only,” Elizalde said. “Anya is seen to lead the wellness resort and luxury hotel brand in the country, offering international grade amenities, impeccable dining experience and first-class wellness and spa services.”

Anya’s hotel component allows its investors to earn through rental yields earning, while the Roxaco Land-created system assures return on investment.

“So far, market indicators are on the uptrend. This makes us upbeat about Anya’s potential,” he said. “We are currently focusing on the investment and project details to ensure the satisfaction of our investors and patrons alike.”

Roxaco Land has been in the business of property development since 1988. On its own or through joint venture deals with other property developers, the company has several projects ranging from first-class residential resort communities like the Peninsula de Punta Fuego to open-lot residential subdivisions in Batangas and Cavite.

The company’s latest thrust is to “establish a significant presence in the real estate industry in Southern Luzon and eventually nationwide.”

With a resort town in Nasugbu adjoining towns of Western Batangas as its base, the company has set its sights on first-home residential developments; leisure tourism; and commercial retail and mixed-use projects.

Its parent firm, Roxas and Company Inc., is also into sugar and sugar-related businesses. It has interests in Roxas Holdings Inc., a publicly listed company that owns Central Azucarera Don Pedro Inc., Central Azucarera La Carlota Inc., and Roxol Bioenergy Corp.