Havitas Properties to enter affordable housing segment

HAVITAS PROPERTIES, INC. plans to enter the affordable housing segment this year with the launch of a residential project in Quezon province, according to its chief executive officer (CEO).

The project will target the “dollar-earning demographic,” including overseas Filipino workers and local digital nomads, Havitas Properties President and CEO Jonathan F. Caro said in an e-mailed reply to questions.

“These are the ones continuing to drive housing demand, which our company is getting into by 2026,” he added.

Havitas has focused on leisure and resort-style developments catering to the high-end market. In February last year, the company launched Aya Hills, a two-hectare resort-style townhouse development.

The developer is backed by director Michael G. Tan, son of tycoon Lucio C. Tan, Sr. and president and chief operating officer at Asia Brewery, Inc.

This year, Havitas is scheduled to launch a seaside leisure-themed development in San Juan, La Union.

Its broader project pipeline includes income-generating vacation homes and mid-rise residential condominium projects, according to information posted on its website.

Despite its planned move into the affordable housing segment, Havitas will continue to focus on wellness-oriented developments, which Mr. Caro said remain in demand among high-end buyers investing in luxury real estate.

Data from property consultancy firm Colliers Philippines showed that only 5% and 3% of unsold residential units come from the upscale and luxury segments, respectively. Units in these categories typically cost P12 million and above, indicating relatively tight supply.

“Wellness real estate will be one of the bright spots in 2026, where the high net-worth market will combine their work with leisure,” Mr. Caro said.

The Global Wellness Institute defines wellness real estate as residential, commercial or institutional properties designed to support the health and well-being of occupants. The institute expects this segment to grow at an average 15.8% from 2023 to 2028, based on its latest report.

Demand for wellness-focused developments would also be supported by the continued expansion of the local tourism industry, Mr. Caro said, citing the importance of sustained collaboration between the government and private sector to support long-term growth. — Beatriz Marie D. Cruz