Lamudi Ignites Cebu’s Booming Real Estate Industry With Housing Fair

The two-day Cebu Housing Fair held at the Ayala Mall Cebu Activity Center from September 8 to 9, 2018 was a well-attended event. Lamudi Managing Director and CEO Bhavna Suresh Chathambeth led the ribbon cutting ceremony, along with several local stakeholders and industry leaders in the real estate industry. This kicked-off the exciting gathering of property developers, brokers, bank representatives, and buyers in the Queen City of the South.

Project developers and other participants

About 23 exhibitors anchored the Cebu Housing Fair and each had their own expertise, projects, and products to showcase to those in attendance. Ortigas & Company featured their model units using state of the art virtual reality (VR) technology. The Land Registration Authority, on the other hand, provided titling tips and services. Banks such as RCBC Savings Bank offered housing loan products while UnionBank actively held an auction. Brokers who wanted to expand their presence in the industry had Keller Williams Philippines to consult. This was complemented by PAREB-CESOREB, whose Cebu real estate broker membership has been growing since 2015.

Photo by Lamudi

Photo by Lamudi

The main bulk of the exhibitors were real estate developers including two of the most active developers in the country—Megaworld and Robinsons Land. Both companies already staked out Mactan through their respective projects, Mactan Newtown and Amisa. Ayala Land had its Amaia arm present the Amaia Steps development while Avida offered special discounts for its Riala project. Quadruple A contractor DMCI also went all out in marketing its Pasig-based Satori Residences and had hopes of having their first Cebu property soon.

Likewise, homegrown developers had an impressive line-up which had prospective buyers curiously inquiring. Gaisano-led Taft Properties partnered with world-class development group Hong Kong Land to create Mandani Bay, a beautiful waterfront township project. King Properties presented their home office concept Meridian, set to be located within Cebu City’s Golden Triangle. Primary Homes also had visitors considering its award-winning condo development, Brentwood in Lapu-Lapu City.

Other Cebu-based property developers were:

  • Softouch Property Development Corp.

  • AboitizLand, Inc.

  • Contempo Property Holdings

  • RDAK Land, Inc.

Event sponsors such as Food Panda, Zalora, and Lazada also made the event more engaging for the attendees.

Special public auction

Photo by Lamudi

Photo by Lamudi

Energizing the mood was UnionBank’s Asset Recovery Group headed by UnionBank Vice President Edzel Babas. He gave a short background talk on the team’s role, as well as the auction procedures.

The special auction’s pace was systematic: items sold fast as each went to sole bidders in a matter of seconds. All properties that were bid upon were purchased at their indicative prices. UnionBank also gave special discounts to successful bidders.

It turned out to be another successful auction for UnionBank. This was their fifth Lamudi event and the first in Cebu. Mr. Babas shared that, “We were able to dispose of a total of 27 (properties).” He also commended their partnership with Lamudi. “Lamudi has been the number one online portal in selling properties. UnionBank is very happy to be partnered with them.”

Cebu City’s housing market

Photo by Lamudi

The properties auctioned off were mainly from Visayas and Mindanao, with some select items coming from Luzon. Jeff Canonigo Lamudi’s Senior Account Manager for Visayas and Mindanao shared some insights on Cebu’s property market. According to him, pre-selling properties would quickly get sold out, especially those coming from local developers. He also noted that Cebu Business Park is the city’s rental condominium hotspot.

The leading online real estate platform

Photo by Lamudi

Without a doubt, Lamudi heads the pack in its industry. It has grown from being a newcomer in 2014 with minimal monthly visits and negligible monthly leads. Fast-forward to 2018 and it has 1.5 million website visits every month delivering over 100,000 monthly leads for its subscribers. Its new Lead Management tool only makes selling much easier for brokers, property developers, and owners alike.

The Lamudi team was readily available to sign-up new subscribers and explain the process at the event. There were also online marketing courses provided by the Lamudi Academy for both days of the Cebu Housing Fair. Lamudi’s Learning and Development Coach Nadine Pacis expertly delivered the classes. These were:

  • Converting online leads to sales

  • Delivering excellent customer service

  • Top channels to use online

The success of Lamudi’s Cebu Housing Fair is proof that the city’s property market is set out to be one of the country’s next real estate center. The influx of waterfront developments is definitely another interesting aspect to look out for. It has the potential to raise property values in the metropolis and even brighter prospects for Cebu City’s unfaltering progress.