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Real Estate
Market Overview
30 September 2009
Outline
2
Market Overview
Retail
4,500,000
Sector 1,600
4,000,000
1,400
3,500,000
1,200
Rent in Php/sqm/month
Area in Square Meters
3,000,000
1,000
2,500,000
800
2,000,000
600
1,500,000
400
1,000,000
200
500,000
0 0
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Prime Rental Rates
Average Rental Rates
Supply of Real Estate
Demand (Take Up)
Market Overview
Residential
35,000
Condominium Sector 600
Rents peaked in 2008, now
softening due to additional supply
30,000
500
25,000
Rent in Php/sqm/month
400
No. of Units
300
15,000
200
10,000
100
5,000
0 0
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Supply of Real Estate
Demand (Take Up)
Average Rental Rates
Market Overview
Residential Sector
5,000,000
700
Rent in Php/sqm/month
Area in Square Meters
600
4,000,000
500
3,000,000
400
300
2,000,000
200
1,000,000
100
0 0
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Makati Prime Rental Rates
Makati Average Rental Rates
Supply of Real Estate
Demand (Take Up)
Market Overview
Office - Quarterly Supply vs Leased / Pre-Committed Space
2008
2008 2009
2009 2010
2010 2011
2011
593,086
593,086 sqm.
sqm. 575,009
575,009 sqm.
sqm. 176,770
176,770 sqm.
sqm. 213,380
213,380 sqm.
sqm.
Average Demand
Market Overview
Office - Supply vs Leased / Pre-Committed Space (2008 - 2009)
Total
TotalSupply:
Supply:593,086
593,086sqm Total
sqm TotalSupply:
Supply:575,009
575,009sqm
sqm
Leased: 77.97%
Leased: 77.97% Leased/Pre-Committed: 41.09%
Leased/Pre-Committed: 41.09%
Makati Makati
Ortigas Ortigas
Others Others
0
0
00
00
00
0
2 5 ,0 0
5 0 ,0 0
7 5 ,0 0
25,00
50,00
75,00
1 0 0 ,0
1 2 5 ,0
1 5 0 ,0
100,0
125,0
150,0
2008 2009
Market Overview
Office - Supply vs Pre-Committed Space (2010 – 2011)
Total
TotalSupply:
Supply:176,770
176,770sqm
sqm Total
TotalSupply:
Supply:213,380
213,380sqm
sqm
Pre-Committed: 13.69%
Pre-Committed: 13.69% Pre-Committed: 0%
Pre-Committed: 0%
Makati Makati
Ortigas Ortigas
Eastwood Eastwood
Others Others
0
00
00
00
00
00
00
25,00
50,00
75,00
25, 00
50, 00
75, 00
100,0
125,0
150,0
100, 0
125, 0
150, 0
2010 2011
BPO Industry Overview
Number of Seats
Total Number of BPO Seats: 240,714
LUZON
209,060 Seats Metro Manila – 188,425
(78%)
% of Total No. of BPO Seats
VISAYAS
29,284 Seats Cebu – 22,569
(9%)
% of Total No. of BPO Seats
MINDANAO
2,370 Seats
10
BPO Industry Overview
Metro Manila Seat Distribution
Parañaque
Manila
Las Piñas
Total Number of Seats in
Metro Manila: 188,425
Marikina
Bay City
Mandaluyong Pioneer
Ortigas
Makati
11
BPO Industry Overview
Provincial Seat Distribution
General Santos
Tarlac
Camarines Sur
Cavite
Davao
Rizal
Batangas
Baguio
Laguna
Pampanga
Cebu
No. of Seats
12
Philippine Economic Overview
1997 vs. 2008 Crisis vis-à-vis Property Market
14
Market Overview
BPO
16,000
/ Call Center Industry 7,000
14,000
6,000
12,000
5,000
10,000
4,000
8,000
3,000
6,000
2,000
4,000
1,000
2,000
0 0
2000 2001 2002 2003 2004 2005 2006 2007 2008
100,000
120,000
140,000
160,000
Country Risk, Visitor Arrival and Call Center Seat Growth
20,000
40,000
60,000
80,000
0
1997 Asian Financial Crisis
2000
Tech Bubble / US Stock Market Crash
2000
ERAP Impeachment
Glorietta Mall Bombing
SM Megamall Cinema Restroom Bombing
Synchronized Bombing in Metro Manila
2001
2001
Philippine General Elections
Dos Palmas Kidnapping
911
EDSA Dos
EDSA 3
Gracia and Martin Burnham Kidnapping
2002
2002
Zamboanga Bombing
Captured Jemaah Islamiyah
Sentenced Jemaah Islamiyah
2003
SARS Outbreak
2003
ZTE Scandal
Glorietta 2 Bombing
Congress Bombing
Manila Peninsula Incident
2008
Cotabato City Bombing
2008
Tourist Arrivals
Call Center Seats
ZTE-NBN Irregularities
US Financial Crisis
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
16
Tourist Arrivals
Source: BPAP, Google Finance Call Center Seats
120,000
140,000
160,000
20,000
40,000
60,000
80,000
0
1997 Asian Financial Crisis
2000
1998
Tech Bubble / US Stock Market Crash
ERAP Impeachment
Glorietta Mall Bombing
SM Megamall Cinema Restroom Bombing
Synchronized Bombing in Metro Manila
1999
2001
Philippine General Elections
Dos Palmas Kidnapping
911
EDSA Dos
2000
EDSA 3
Gracia and Martin Burnham Kidnapping
2002
Zamboanga Bombing
2001
2007
Cotabato Bus Station Bombing
ERAP Conviction
ZTE Scandal
Glorietta 2 Bombing
2007
Congress Bombing
Manila Peninsula Incident
2008
Cotabato City Bombing
Dow Jones
NASDAQ
Call Center Seats
ZTE-NBN Irregularities
2008
US Financial Crisis
17
Tourism
Tourism The Next Big Thing
Global Tourism Overview 2008
19
Philippine Tourism Overview
Asia and the Pacific - Philippines 2008 Tourist Arrivals
(in '000)
1 China 53,049
2 Hong Kong 29,506
3 Malaysia 22,052
4 Thailand 14,584
5 Macau 10,605
• Total international tourist 6 Japan 8,351
arrivals: 922 million 7 Singapore 7,778
8 Korea 6,891
• Of the 922 million arrivals, 184.1 9 Indonesia 6,234
10 Australia 5,586
million were in Asia and the 11 India 5,367
Pacific 12 Vietnam 4,236
13 Taiwan 3,845
14 Philippines 3,139
15 New Zealand 2,459
16 Cambodia 2,001
17 Laos 1,295
18 Guam 1,142
19 Pakistan 823
20 Maldives 683
21 Fiji 585
22 Nepal 500
Source: WTO, HKTC 23 Sri Lanka 438
20
Philippine Tourism Overview
Top 15 Tourist Destinations in the Philippines
2009 Rank 2008 Rank
Camarines Sur 1 6
Cebu 2 1
Boracay 3 3
Baguio 4 2
Davao 5 5
Puerto Galera 6 7
Bohol 7 8
Bacolod 8 4
Dumaguete 9 9
Ilocos Norte 10 10
Masbate 11 11
Camarines Norte 12 15
Puerto Princesa 13 14
Legaspi 14 13
Catanduanes 15 16
Source: DOT
Philippine Tourism Overview
Tourist
3,500,000
Arrivals and Tourist Receipts 6,000
3,000,000
5,000
2,500,000
2,000,000
3,000
1,500,000
2,000
1,000,000
1,000
500,000
0 0
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Source: WTO
Arrivals to Phils. Receipts (in $M)
Source: WTO Tourist Arrivals
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
500,000
1997 Asian Financial Crisis
0
2000
Tech Bubble / US Stock Market Crash
1999
ERAP Impeachment
Glorietta Mall Bombing
SM Megamall Cinema Restroom Bombing
Synchronized Bombing in Metro Manila
2001
2000
Philippine General Elections
Dos Palmas Kidnapping
911
EDSA Dos
EDSA 3
Gracia and Martin Burnham Kidnapping
2001
2002
Zamboanga Bombing
Captured Jemaah Islamiyah
Sentenced Jemaah Islamiyah
2003
2002
SARS Outbreak
Davao Airport Bombing
Jemaah Islamiyah escape
Arrivals to Phils.
ERAP Conviction
ZTE Scandal
Glorietta 2 Bombing
Congress Bombing
Manila Peninsula Incident
2008
2008
Cotabato City Bombing
ZTE-NBN Irregularities
US Financial Crisis
0
1,000
2,000
3,000
4,000
5,000
6,000
600,000
500,000
Tourist Arrivals
400,000
300,000
200,000
100,000
0
Source: DOT
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
24
Philippine Tourism Overview
Thailand and Philippines
Thailand Philippines
Population 67 million 90 million
Tourist Arrivals 14.54 million 3.4 million
Tourism Receipts USD 16 billion USD 5 billion
% of GDP 6.50% 6.20%
Malaysia Korea
Japan USA
Top 5 Tourists Korea Japan
China China
United Kingdom Australia
25
China and Taiwan Tourists To The Philippines
300,000
100,000
50,000
0
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
26
China’s Top Tourist Destinations
18,000,000
16,000,000
14,000,000
12,000,000
Tourist Arrivals
10,000,000
8,000,000
6,000,000
In 2007, 157,601 tourists from
4,000,000
China came to the Philippines
2,000,000
0
2001 2002 2003 2004 2005 2006 2007
27
Total Hotel Supply and Occupancy in Metro Manila
16,000 80
40% increase in hotel room supply in the last Crowne
Expansion Plaza
15 years, or 2.6% per annum on average of Makati Manila
14,000 Shangri-La 70
Pan Pacific and Westin
Manila Philippine Bellevue
Some major
Plaza Manila
hotels
Manila closed down
12,000 60
Diamond
Hotel and
Makati
Shangri-La
No. of Hotel Rooms
10,000 50
Occupancy Rate
8,000 40
6,000 30
4,000 20
2,000 10
0 0
Source: DOT 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
28
Future Hotel Supply in Metro Manila (2009 – 2013)
1,400
1,200
Future Hotel Supply in Metro Manila:
2,674 hotel rooms across 8 hotels
1,000
Shangri-La
No. of Hotel Rooms
(Fort
800 Bonifacio)
600
Maxims
Hotel
(Newport
City) Grand Hyatt
400
Picasso (Fort
Serviced Raffles Bonifacio)
Residences
Residences
(Makati) Marriott
Manila and
Hotel
200 Ocean Park Fairmont
(Newport
(Manila) Hotel
City)
The Eastwood
(Makati)
Park Hotel
(Eastwood)
0
Source: DOT 2009 2010 2011 2013
29
Hotel Supply in Provincial Areas By Year-End 2009
1,000
900
Grand
Water
Future Hotel Supply in Provincial Areas:
800
Seven
1,539 hotel rooms across 9 hotels
Stones
700
Boracay
Regency
No. of Hotel Rooms
600 Lagoon
Phoenex
500 Hotel
400
Crowne
300 Regency
Expansion
Radisson
Hotel
200
100
Summer
Discovery
Ridge
Bay Misibis Microtel
0
Source: DOT Boracay Cebu Tagaytay Albay Puerto Prinsesa
30
Who We Are, What We Do
• JLLL is the most prominent real estate services firm in the country
- Sales and Leasing
- Facilities & Property Management
- Project Management
- Research, Consultancy and Valuation
• JLLL is at the forefront of the BPO industry—serviced
industry 10 of the top 12
BPOs in the Philippines, handled more than 45 contact center clients,
and acquired a total of 102 sites for these clients.
• Serviced around 50% of all office space occupied by the outsourcing
industry.
• Negotiated about 110,000 sqm of build-to-suit buildings, and about 90%
of BPO office lease transactions outside Metro Manila.
A Track Record of Achievement
Fortune’s World’s Most Best Overall Global Advisor The Global Outsourcing
Admired Companies (2009) and Consultant (2009) 100 List (2009)
P&G’s External Business Forbes 400 List of Best Asia MS 100 List
Partner of the Year Big Companies (2008) (2008)
Thank you!