JOINING THE BIG LEAGUE
Ever since PA Properties began building communities in 1993, the Laguna-based developer made it a point to design more functional yet beautiful houses that could be had at affordable rates and payment schemes.
While the company has become a major player in the provinces of Laguna and Cavite, PA Properties has also established its presence in Metro Manila and in Batangas, Bulacan and Pampanga.
“It’s obvious that the Philippines is suffering from woefully inadequate undersupply of housing—currently estimated at around 5.7 million housing units—so as a developer we had to increase our efforts to deliver more communities that promote opportunities for personal growth and economic independence,” explained PA Properties chair Romarico “Bing” Alvarez.
Alvarez said that each of the houses the company turned over means their new owners will no longer have to rent or be forced to live in squalid conditions.
“Building houses within the price range that are very attractive to the middle income earners may be a labor-intensive investment. But on the other hand, we are creating more jobs—a spurt in activity in this housing price range unleashes a chain reaction in other allied industries, creating a multiplier effect that impacts the economy,” Alvarez explained.
He said that developers like PA Properties would do well in investing more in middle-cost housing because a recent report cites that “the middle-income earners are set to become a prominent consumer force thanks not only to their large size, but also their strong income growth prospects.”
Euromonitor International, one of the leading independent providers of strategic market research has identified the Philippines (together with China, India, Indonesia and Nigeria), as an emerging market with the best middle-class potential.
“The middle-income earners are expected to play a key role in boosting economic growth through higher consumption, which includes buying a house,” Alvarez further said.
Developers like PA Properties would do well in investing more in middle-cost housing