MORE NEW RETAIL SPACE RISING IN BACOLOD CITY IN NEXT 3 YEARS

1. BACOLOD City – About 140,000 square
meters of new retail space is expected to
be available in this city in the next three
years, according to global real property
services firm Colliers International
Philippines.
As of April 16, Colliers reported that
Bacolod’s retail stock reached almost
318,000 square meters by the end of 2017.
By 2020, Colliers projected the city’s retail
space to reach by as much as 462,000
square meters, higher by 43 percent than
the 2017 stock.
In Negros Occidental, SM City Bacolod’s
north and south wings have a combined
107,000 square meters of leasable space,
which accounts for more than 30 percent
of the retail space here.
MORE NEW RETAIL
SPACE RISING IN
BACOLOD CITY IN
NEXT 3 YEARS
MORE NEW RETAIL
SPACE RISING IN
BACOLOD CITY IN
NEXT 3 YEARS
PROPERTY FIRM
BULLISH AMID
PRESENCE OF
COMPETITORS
IN THIS ISSUE
NEGOCC TOURIST
ARRIVALS IN 2017
SURGE TO 1.72M
MAY 2018
VOL. 1, S2
PROPERTY
MARKETWATCH A A P R O P E R T Y S O L U T I O N S
N E W S L E T T E R V O L . 1 S 2

2. MAY 2018 VOL. 1 S2
TOURIST arrivals in Negros Occidental, including
Bacolod City, surged to about 1.72 million last year,
higher by seven percent than the 1.61 million in 2016.
The final report of the Negros Occidental Tourism
Division (NOTD), a copy of which was obtained by
SunStar Bacolod Monday, February 26, showed the
province catered to 1,609,066 domestic guests, 114,686
foreign tourists, and 381 overseas Filipinos in 2017.
NegOcc tourist arrivals
in 2017 surge to 1.72M
Colliers said the remaining 65 percent is in
smaller district and neighborhood malls owned
and operated by local developers.
This year, Ayala Land Inc. is scheduled to
complete a 70,000-square meter mall within its
Capitol Central township across the Provincial
Capitol in this city.
Megaworld Corp.’s Northill Town Center, a
horizontal retail development with a central plaza
that will host many amenities, is tentatively set to
open next year.
Meanwhile, retail vacancy slightly increased from
1.7 percent in the second quarter of 2017 to 2.3
percent by the end of last year.
Colliers said this can be attributed to the
recently-opened neighborhood malls’ difficulty in
filling vacant space.
“We expect Bacolod City’s vacancy rate to hover
between 1.5 percent and 3 percent this year as we
see additional take up from foreign retailers
planning to occupy space in SM City Bacolod and
improved absorption in recently opened nearby
malls,” the report said.
Still, the vacancy should rise to between 4
percent and 6 percent per year from 2019 to 2020
with additional space in major townships by Ayala
Land and Megaworld. (EPN/PNA)
TOP officials of property developer Cebu
Landmasters Inc. (CLI) said they are bullish
on growing their investments in Bacolod
City amid the presence of major players in
the real estate industry.
On Monday, February 26, CLI announced
that it started the construction of its
three-tower residential project worth P1.5
billion that will soon rise on Lacson Street
at Barangay Bata.
Jose Franco Soberano, executive vice
president and chief operating officer of
CLI, said being a homegrown Visayas and
Mindanao player, they have a better
understanding of the important criteria as
to home ownership in the region.
Property giant Megaworld Corp. has also
started the development of its two
township projects in cities of Bacolod and
Talisay worth about P35 billion.
Projected to be completed this year is
Ayala Land Inc.’s P6-billion development
of a mix-use project beside the Provincial
Capitol Building in Bacolod City.
Other major retail players with ongoing
new and expansion projects in Negros
Occidental, especially Bacolod City, are
SM Prime Holdings Inc., Double Dragon
Properties, and Robinsons Land Corp.,
among others.
Property firm bullish
amid presence of
competitors
Property MarketWatch is a publication of AA Property Solutions that aims to provide clients
and real estate practitioners with the best available market update and knowledge to make well
informed decisions on real estate investments and transactions.
Bacolod, the province’s capital city, alone
registered a total of 831,687 guest arrivals last
year. The figure is higher than 799,224 in 2016.
Mansinares said more tourists are coming to
these localities as they have beach resorts,
relaxation and nature offerings apart from
their festivals. They also have more
accommodation establishments, tourism
infrastructure support, and numerous
activities and attractions to offer, she added.