Since the 1970s, home buyers have depended on name developers who have track records in building subdivisions and condominiums. Nowadays, with the proliferation of different land development projects, there is a need to know the companies behind the projects.
There is a need for identifying and classifying real estate developers in the country. One recommendation is to browse Real Estate Hub, which provides the credible reviews of real estate companies in the Philippines.
The Names Behind the Development
Land development is not an isolated industry. The modern land developer is either in the business for a long time, own large tracts of land on their own, or have associated businesses which lend them a perfect fit for industry. The biggest developers allot billions of pesos in capital expenditures every year to fuel their own high rise and condominium projects.
One example is DMCI Homes, which is part of DMCI Holdings. DMCI started out in the construction industry, as the builder of some of the country’s most iconic buildings and infrastructure. DMCI Homes has several high rise projects in Metro Manila.
Another is Rockwell Land, which is a member of the Lopez Group of Companies. The company is named after the Rockwell Center in Makati. The Meralco Rockwell stood on this piece of land before it was shut down decades ago. The idle land has become a mecca for high-end shopping and entertainment, with premium condominiums.
Growth and Prominence
In recent years, the consumer’s perception has helped companies to grow their business. Traditionally, real estate is a boom-and-bust business with bubbles that can burst at any time depending on the state of health of the country’s economy. However, with long-standing business credibility, developers have cultivated customers which trust them and buy condominiums as investments. In 2016, DMCI was considered as one of the best condominium developers in the Philippines. One factor is their being affordable.
Condominiums are bought due to necessity, although the developer name is considered as an important factor in making a decision. When buying a condominium, the developer determines the quality and desirability.