By Revin Mikhael D. Ochave, Reporter
THE PHILIPPINE real estate sector holds significant growth potential and is well-positioned to take care of its competitive edge within the regional property market, in accordance with KMC Savills, Inc. Chief Executive Officer (CEO) Joe Curran.
“The appetite is there. The demand is there. There’s really a vibrant horizon for property development within the Philippines because there may be a lot room to enhance,” Mr. Curran said in an interview with BusinessWorld.
KMC is an actual estate services company headquartered in Bonifacio Global City. It’s the exclusive international affiliate of Savills, a world real estate services provider listed on the London Stock Exchange.
“There are some great developers here who’ve great ambition and who actually need to bring world-class products — be they hospitality, office, or residential — to this country,” he added.
Mr. Curran was appointed CEO of KMC Savills in January 2024, bringing with him greater than 20 years of experience in the true estate industry.
He previously served as country manager for Cushman & Wakefield within the Philippines and as executive vice chairman of KMC Savills’ sister company, KMC Solutions, Inc., which operates within the flexible workspace sector. Mr. Curran also held the role of associate director on the industrial real estate services firm CBRE.
“Regardless that I actually have the title of CEO, it’s still about client engagement. That’s the very best and best use of my time — working with agents, engaging clients, and driving business growth,” Mr. Curran said.
“We proceed to expand our service lines, particularly in facilities management and property management. We’re very bullish on Metro Manila and the regions,” he added. KMC Savills provides services resembling tenant and landlord representation, investments, research and consultancy, valuation, project marketing, property management, facilities management, and project management.
Mr. Curran also highlighted the positive impact of ongoing infrastructure projects resembling the Metro Manila Subway in enhancing the country’s competitiveness relative to neighbors like Vietnam, Singapore, and Thailand.
“These large infrastructure projects are upgrading ports, roads, and airports — not only in Metro Manila but in addition across the Visayas and Mindanao. The mass transportation systems underway in Metro Manila will be game-changers by enabling people to live farther north or south, unlocking latest economic potential,” he said.
“The Philippines is a wonderful talent pool — English-speaking and with a big population. A number of the key ingredients for growth are already here,” he added.
The infrastructure projects, Mr. Curran said, may also support growth beyond central business districts (CBDs).
“It’s essential to decentralize from the core CBDs to areas like Bulacan and the South Luzon Expressway corridor,” he said.
“Cities resembling Cagayan de Oro, Puerto Princesa, and Dumaguete also show potential. These regional growth centers are predominantly driven by local talent pools. It’s really labor-driven,” he added.
Mr. Curran noted that decentralization would profit expanding corporations, particularly within the business process outsourcing sector, by reducing attrition rates.
“In regional locations, there’s less poaching and attrition. Being considered one of only just a few selections on the town gives corporations an edge, unlike in Ortigas, where job opportunities abound,” he explained.
“One other challenge is the standard of office buildings in these areas, but many local developers are prepared to deal with this,” he added.
KMC Savills also goals to enhance the standard of developments and the end-user experience.
“Filipinos, especially the younger generation, are exposed to international cultures and wish integrated townships, higher public transportation, bike tracks, greenways, and parks here at home,” Mr. Curran said.
“Our role as service providers is to facilitate these improvements, unlock value, and collaborate with each local and international stakeholders,” he said.
KMC Savills and its project management design-and-build arm, T1, employ greater than 500 professionals within the Philippines.
