Seizing leisure-oriented demand in Mactan
Cebu remains one of the most attractive and largest residential hubs outside Metro Manila.
National developers continue to launch projects in Metro Cebu, buoyed by optimism over its growth potential, especially in the luxury residential segment. It offers options for end-users and investors, ranging from condominium developments in business districts to leisure-themed communities in popular destinations like Mactan.
Economic expansion fuels residential appetite
Cebu is part of Central Visayas, which remains the fastest growing region in the country, driven by its robust services sector, outsourcing investments, and domestic tourism.
Data from the Philippine Statistics Authority (PSA) showed that in 2024, Central Visayas’ economy grew by 7.3 percent, higher than the national average of 5.7 percent.
Cebu remains one of the most visited domestic destinations in the Philippines. In 2024, the Department of Tourism recorded 63.9 million overnight travelers, up from 55.3 million in 2023, with Cebu attracting over five million travelers.
Property developers planning to expand their leisure footprint need to keep an eye on Cebu and aggressively scout for the next viable
location for a hotel or a leisure-oriented project in the province. We remain bullish with our growth projections for Cebu as it continues to receive a good mix of foreign and domestic tourists.
Aside from leisure and commercial activities, Central Visayas is also a major recipient of remittances from
overseas Filipino workers (OFWs). The region accounted for 6 percent of the total 2 million OFWs deployed in 2024. In our view, this should ensure stable residential demand particularly in Cebu.
Largest condominium stock outside MM
As of end 2025, Cebu’s condominium stock reached 92,300 units, the largest supply outside the capital region.
We see substantial completion across Metro Cebu from 2026 to 2029. By end 2029, Colliers expects Cebu’s total supply to reach 109,000 units, with the average annual completion of 4,000 new units from 2026 to 2029.
The upscale and luxury markets (P12 million and above) will likely account for more than a tenth of new supply during the period.
National players remain aggressive in capturing take-up from the more expensive residential segment, indicative of Metro Cebu’s rising purchasing power.
Testing the appetite for upscale and luxury units
Colliers believes that the demand for upscale and luxury projects will likely extend beyond Metro Manila, including Cebu.
The supply of such projects in Metro Cebu is relatively small compared to Metro Manila but the demand is likely to be driven by both local and overseas-based Cebuano investors, who are looking for attractive investment prospects that can also serve as viable hedges against inflation.
Like in Metro Manila, we see these investors banking on the capital appreciation potential of these residential developments.
Capturing demand for leisure-oriented dev’ts
Colliers Philippines believes that property firms should take advantage of the rising demand for resort-themed projects in key destinations across the country.
Take-up for leisure-oriented properties is expected to be partly sustained by the recovery of leisure and travel, with stronger prospects for foreign and domestic visitors given the Philippines’ improving connectivity. In our view, developers seeking to capture foreign demand should consider the appeal of leisure-oriented projects, especially in Mactan.
Rockwell Land’s Aruga
Resort and Residences-Mactan is a notable example of a leisure-oriented development in Cebu. The project features premium and high-end amenities including a 270-meter white sand beach stretch, sea-facing swimming pools, a pool deck and lounge, a gym and yoga studio, and a residents’ lounge.
Resort-themed residential projects in Mactan are among the more expensive in the Visayas-Mindanao area.
Despite this, they continue to record formidable take-up. These encouraging figures should entice firms to further test these leisure-centric developments in Cebu, including those that offer golf courses.
