3 weeks ago
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Catherine Talavera - The Philippine Star
February 23, 2025 | 12:00am
“Global playground cities represent a new urban paradigm, serving as quintessential destinations where the affluent and nomadic rich choose to spend their wealth on refined, luxury experiences.”
MANILA, Philippines — Manila has the potential to become a global playground city, according to a Thailand-based hospitality consultancy firm.
“We believe that Manila has all the potential to evolve into a global playground city,” C9 Hotelworks managing director Bill Barnett said.
“Manila’s regional accessibility, diverse entertainment options and rich lifestyle offerings make it a prime candidate for the growing demand in luxury residences,” Barnett said.
Global playground cities represent a new urban paradigm, serving as quintessential destinations where the affluent and nomadic rich choose to spend their wealth on refined, luxury experiences, according to C9 Hotelworks.
It added that these cities are characterized by exclusive, award-winning hospitality, hotels, real estate, entertainment and retail offerings. These cities have also evolved into global centers, attracting high-net-worth individuals for tourism as well as short-term visits and long-term living.
C9 Hotelworks said the integration of branded residences into the Philippines’ tourism and hospitality landscape is already making waves, with international hospitality groups such as The Ascott Ltd. spearheading the development of luxury residential offerings.
The Ascott, which has been a pioneer in branded residences in the Philippines for over two decades, expressed confidence that these properties will cater to an increasing demand for high-end, serviced living spaces.
“We are fully committed to the Philippines in the long-term,” The Ascott Ltd. vice president for business development Saowarin Chanprakaisi said in a recent forum organized by C9 Hotelworks and Delivering Asia.
“Our brands, including Somerset, Citadines and now Oakwood, bring international expertise and world-class services that align perfectly with the expectations of buyers looking for top-tier branded residences. As the market matures, these residences will add a unique dimension to the country’s growing tourism and hospitality sectors,” Chanprakaisi said.
With luxury real estate markets thriving in key destinations across the region, C9 Hotelworks said the Philippines stands ready to benefit from this growth.
It added that the rise of branded residences, combined with world-class hotel and resort offerings, would further elevate the Philippines’ status as a prime location for both international travelers and investors.
“As tourism continues to drive growth in the country, the fusion of branded residences and hospitality sets the stage for the Philippines to become an even more compelling choice for travelers and investors, positioning it as one of the most exciting destinations in Asia for the coming decades,” the hospitality consultancy firm said.
In its branded residences market review, C9 Hotelworks said the Philippines has a market share of 17.3 percent in the supply of branded residences in Asia, the second largest in the region.
The Philippines follows Thailand with a 23.3-percent share and South Korea with an 11.6-percent share.
“Emerging markets such as Malaysia, Vietnam and India collectively account for 24.5 percent of the total market share,” C9 Hotelworks said.
It also said the branded residences market in Asia is valued at $26.6 billion, comprising 68,001 units in total.
It added that over the past four years, the sector has experienced robust growth, expanding at a compound annual growth rate of 11 percent, with strong prospects for continued development.
“From 2025 onward, an additional 43,100 units across 180 projects are expected to be completed, nearly doubling the existing supply of branded residences in the region,” the report said.
