Making smart decisions amid changing times
Mandaluyong’s transformation started in the 1990s, but its evolution is far from over.
Property experts echoed this sentiment when they spoke at the latest edition of INQTalks, titled “Property in Perspective: Making Smart Real Estate Decisions in Changing Times,” held last month at Grand Hyatt Manila. The event, organized by Inquirer Property and Federal Land NRE Global Inc. (FNG), focused on how property owners and investors could make wise choices amid shifting trends and volatile market conditions.
In this discussion, Mandaluyong emerged as one of the strongest examples of a location that still has room for further growth.
Unmatched geographic advantage
In his talk, Prof. Enrique M. Soriano III of W+B Real Estate recalled working on a township development in Mandaluyong’s Edsa Central area in the 1990s, when it was stigmatized as “the armpit of Makati.”
He recalled the narratives that discredited the place, such as a transitional, secondary city, a place between places, and with limited long-term value.
Soriano and the others in his team, however, saw Mandaluyong in a positive light. They saw it as Metro Manila’s central connector, with unmatched geographic advantage and generational opportunity.
The project moved forward, and as redevelopment continued, Mandaluyong gradually shed much of its former image and began to reflect what the team had envisioned.
“Smart property decisions are never emotional. They are strategic,” Soriano stressed.
For Soriano, that experience offers a useful lesson in navigating the current crises testing the real estate sector.
A sound engine
Mikko Barranda of Leechiu Property Consultants Inc., in his presentation, explained those crises. He remarked: “The market has been clawing its way back since 2019 but it’s running out of gas. Six crises in six years have worn down confidence.”
He referred to the COVID-19 pandemic in 2020, the Russian invasion of Ukraine in 2022, the ban on Philippine offshore gaming operators in 2024, the infamous Trump tariffs and the flood control scandal both in 2025, and the US-Iran conflict earlier in the year.
Despite that, “the Philippine engine is still sound.” He noted that real estate prices had remained resilient during periods of crisis and that capital flight was less of a threat because most of the market was locally owned. He added that the country’s relatively young population and strong OFW remittances still provided a cushion.
Barranda further noted that people “need to be discerning, more intentional.” That recommendation included looking where the opportunities lay.
Central location
Miguel Naval, country manager at RE/MAX Philippines, said Mandaluyong was one such place.
He said people could not move across Metro Manila without passing through Mandaluyong, a centrality that made it dense, relevant and busy round-the-clock.
Despite these, the residential offerings in this city remained attainable. In fact, RE/MAX Philippines’ listing data showed options in the area were priced below the premium rates seen in most central business districts (CBDs).
Growth potential
Considering these factors, Soriano said much still lay ahead for Mandaluyong City.
Its traditional advantages, along with upcoming transport-oriented projects, continuing urban migration and new real estate developments, are expected to sustain the city’s momentum and fuel further growth, he explained.
Among the developments contributing to this next phase is FNG’s The Observatory in Mandaluyong City.
This 4.5-ha complex, envisioned to become a refreshing modern retreat, incorporates Japanese design principles and offers expansive views of the Mandaluyong and Metro Manila skyline.
The Observatory is planned to have eight towers, which will include condominium developments, an office building, and retail spaces that will provide not only a curated row of restaurants, retail shops and service establishments, but also scenic views either of the city or of Pasig River, owing to its strategic location in the metro.
“The future surrounds us, but cities never stop evolving. Every generation gets a chance to participate in the next chapter, and that’s going to be on you,” Soriano said.
