Presently, Metro Manila has become extremely crowded in its main metropolitan cities such as Makati and Quezon City. Even The Fort, which was lauded for being a new and unique emerging city center, is noticeably becoming crowded due to the influx of new residents and investors alike.
If your business is coming from overseas, setting a foothold for your business in the country seems nearly impossible to do. Apart from the intensity of the competition, there’s also the fact that actual properties you can lease are becoming increasingly rare.
There’s a silver lining, though; The Philippines is currently experiencing a significant boom and growth within the private sector. This is partly due to the reemerging interest in the development of suburban sectors in the country. If you want your business to take off, you need to take advantage of this emerging market.
The Boom in the Private Sector
Historically, the private sectors were left relatively sparse due to a focus on developing the country’s main cityscapes. Early in the country’s history, development was focused on establishing what would be the country’s premiere commercial districts and cities. As a result, the suburban landscape was, as its name implies – suburbs and purely residential developments.
The shift in development focus was only recent, and it’s made the private sector and suburban landscapes ideal environments for foreign brands to set a foothold and take advantage of the boom. Before, retail brands would dominate the private sector and would completely outclass foreign brands due to sheer affordability. This changed due to the growth of the suburbs and the creation of smaller community and commercial sectors within their developments.
Additionally, more people spending money means that competition with local brands will not be as intense anymore.
Leasing in the Country
The boom in the private sector also means that there are now more places to invest in the country. While the original suburban developments remain the top choice, many smaller suburbs and townships now have places where you can establish your retail business realistically.
Master planned communities are a top choice in the country due to being attractive residential developments for the stronger and emerging middle class market. A good example is Lancaster New City Cavite, which has a downtown area with many commercial properties for lease that are strategically placed close to the community’s residential district. These new, fast-growing cities are relatively ‘untouched’, and make good places to establish your retail business in the country.
The country’s booming private sector is a sign of good things to come in the future. The increasing disposable income of people in the suburbs means that it is no longer unrealistic to invest in a commercial property far away from the country’s main city centers.