By Revin Mikhael D. Ochave, Reporter
THE PHILIPPINE real estate sector holds significant growth potential and is well-positioned to maintain its competitive edge in the regional property market, according to KMC Savills, Inc. Chief Executive Officer (CEO) Joe Curran.
“The appetite is there. The demand is there. There’s really a bright horizon for property development in the Philippines because there is so much room to improve,” Mr. Curran said in an interview with BusinessWorld.
KMC is a real estate services company headquartered in Bonifacio Global City. It is the exclusive international affiliate of Savills, a global real estate services provider listed on the London Stock Exchange.
“There are some great developers here who have great ambition and who really want 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 more than 20 years of experience in the real estate industry.
He previously served as country manager for Cushman & Wakefield in the Philippines and as executive vice president of KMC Savills’ sister company, KMC Solutions, Inc., which operates in the flexible workspace sector. Mr. Curran also held the role of associate director at the commercial real estate services firm CBRE.
“Even though I have the title of CEO, it’s still about client engagement. That’s the highest and best use of my time — working with agents, engaging clients, and driving business growth,” Mr. Curran said.
“We continue 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 such as 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 such as 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 just in Metro Manila but also across the Visayas and Mindanao. The mass transportation systems underway in Metro Manila can be game-changers by enabling people to live farther north or south, unlocking new economic potential,” he said.
“The Philippines is a fabulous talent pool — English-speaking and with a large population. Some of the key ingredients for growth are already here,” he added.
The infrastructure projects, Mr. Curran said, will also support growth beyond central business districts (CBDs).
“It’s important to decentralize from the core CBDs to areas like Bulacan and the South Luzon Expressway corridor,” he said.
“Cities such as 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 benefit expanding companies, particularly in the business process outsourcing sector, by reducing attrition rates.
“In regional locations, there’s less poaching and attrition. Being one of only a few choices in town gives companies an edge, unlike in Ortigas, where job opportunities abound,” he explained.
“Another challenge is the quality of office buildings in these areas, but many local developers are prepared to address this,” he added.
KMC Savills also aims to improve the quality of developments and the end-user experience.
“Filipinos, especially the younger generation, are exposed to international cultures and want integrated townships, better 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 both local and international stakeholders,” he said.
KMC Savills and its project management design-and-build arm, T1, employ more than 500 professionals in the Philippines.
