Known as the Queen City of the South, Cebu is deemed as one of the fastest-growing real estate markets in the Philippines. The oldest city in the country with a developed metropolis is boasting its central business districts, special economic zones, IT (Information Technology) Parks, and tourist attractions.
The city is considered as the second essential metropolitan area in the country because of its BPO (business process outsourcing), ESL (English as a Second Language), IT, and offshore gaming industries — additionally, its strategic location makes it a feasible industrial location.
According to Colliers’ “Cebu Property Market Report 2019,” Cebu is considered as one of the most competitive outsourcing locations across the globe due to its sufficient IT infrastructure and skilled manpower. In addition, the city ranked 11th from its previous 12th in 2017, at Tholons’ 2018 survey of the most attractive outsourcing sites in the world.
Cebu is also one of the major beneficiaries of the government’s infrastructure program because it is considered as the most dynamic metropolitan area outside Metro Manila and Colliers believes that potential land close to the proposed Cebu-Cordova Link Expressway, Cebu BRT (Bus Rapid Transit), and the Iloilo-Guimaras-Negros-Cebu Bridge must further be assessed for their feasible township projects which feature condominiums, hotels, offices, and schools.
The Mactan Newtown: Rising Business Ventures, Residential Hub
The Mactan Newtown is committed to tapping the potential of Cebu’s economic prowess to unlock various opportunities in the region. Cebu’s business and employment opportunities paved the way for it to become one of the top residential hubs outside Metro Manila, continuously increasing the demand for both horizontal and vertical residential developments.
The demand for condominium units is being fueled by the increasing number of high-spending foreign tourists. Furthermore, developers need to be strategic in planning and launching new projects, targeting foreign tourists, and exploring Mactan’s potential for residential projects.
Some of the foreign tourists who initially stayed in Cebu for a short amount of time have decided to retire and invest in the city and its surrounding areas because of the balance between urban and natural landscapes.
Essentially, investing in a property in Mactan Newtown is an excellent choice to utilize the increasing demands of residential spaces from both local and foreign tourists. This will give you the leverage to have more financial sources and freedom.
