Nuvoland Philippines Inc Foreign Buyer Guide: Nuvo City, Infinity Tower, and the Quezon City Mid-Market (2026)

Nuvoland Philippines, Inc. is a boutique Metro Manila real estate developer incorporated in 2006, headquartered in Quezon City, and best known for its flagship mixed-use Nuvo City project and the 48-storey Infinity Tower in Bonifacio Global City. The company was founded by Menardo Jimenez of GMA Network and Kevin Belmonte of the Philippine Star and was recognized as one of the Philippines' top 10 developers at the BCI Asia Awards in 2014. For foreign buyers evaluating mid-market Metro Manila condominiums, Nuvoland sits in a specific niche worth understanding.

What foreigners can actually own in the Philippines

Foreigners cannot own land in the Philippines. This is the constitutional baseline, set out in Article XII Section 7 of the 1987 Constitution. What a foreigner can own is a condominium unit, subject to the 40 percent foreign ownership cap on any individual condominium corporation under Republic Act No. 4726, the Condominium Act of 1966.

This rule shapes every Nuvoland decision a foreigner needs to make. Infinity Tower units, Nuvo City units, and any future Nuvoland condominium release are eligible for foreign purchase provided the 40 percent cap at the building level has not been exceeded. The developer is required to disclose the current foreign ownership percentage on demand. Ask for it in writing before reserving a unit.

A foreigner cannot buy a townhouse, a single-family home on a titled lot, or any product that includes ownership of the land. House-and-lot offerings from Nuvoland or any other Philippine developer are off-limits unless structured through a Filipino spouse, a corporation owned at least 60 percent by Filipinos, or a long-term lease arrangement under the Investors' Lease Act (RA 7652), which permits leases up to 50 years renewable for 25.

Nuvoland's portfolio in practice

Nuvoland's first major delivery was Infinity Tower in Bonifacio Global City, Taguig. The office floors were turned over in 2007 and the residential floors in December 2011. That track record is now 14 years old on the office side and 13 on the residential, which means second-hand resale data and rental performance are observable, not speculative. For any foreign buyer evaluating Nuvoland, asking for the rental yield and capital appreciation history of Infinity Tower units provides a real benchmark.

Nuvo City in Quezon City is the larger ongoing development. The masterplan calls for five residential buildings and three office-retail towers. Phasing has progressed in stages, with later releases benefiting from the Quezon City master development plan and the build-out of the MRT-7 north-south corridor, which is scheduled for partial operations during 2026.

What to verify before buying off-plan from Nuvoland

The Maceda Law (Republic Act 6552) governs installment sales of residential real estate in the Philippines and provides specific buyer protections for off-plan and installment transactions. Beyond that statutory floor, the following documents need to be in hand before the second payment:

1. License to Sell (LTS) issued by the Department of Human Settlements and Urban Development (DHSUD, formerly HLURB). Every Philippine off-plan project must have an LTS. The number is searchable on the DHSUD website. The LTS is per-project and per-phase, so verify the specific tower and the specific phase you are buying into.

2. Certificate of Registration (CR) from DHSUD, which precedes the LTS and confirms the developer's right to develop the parcel.

3. Master Deed and Declaration of Restrictions for the condominium corporation. This is the constitutional document for the building. It defines unit boundaries, common areas, voting rights, and rules. Read it before you sign the Contract to Sell.

4. Current foreign ownership percentage in the specific condominium corporation. Below 40 percent, foreign buyers can transact freely. At or above 40 percent, no further foreign sales are permitted until Filipino owners increase their share.

5. Tax declaration and title status for the underlying land parcel. Nuvoland or its SPV must hold a Transfer Certificate of Title (TCT) or, for a condominium project, the appropriate Condominium Certificate of Title (CCT) chain.

Payment and tax structure

Standard Metro Manila off-plan payment plans run 24 to 60 months. Reservation fees range from 25,000 to 100,000 pesos. Down payments are typically 10 to 20 percent of the unit price, with the balance financed either through in-house developer financing or through bank financing under the Pag-IBIG Fund or commercial bank programs. Foreign buyers are eligible for Pag-IBIG financing only if they hold permanent residency or are married to a Filipino.

Capital gains tax on the sale of real property in the Philippines is 6 percent of the gross selling price or fair market value, whichever is higher, under Section 24(D) of the National Internal Revenue Code. Documentary stamp tax adds 1.5 percent. Annual real property tax is set by the local government unit and runs around 1 to 2 percent of assessed value in Metro Manila.

The Nuvoland counterparty

The Menardo Jimenez and Kevin Belmonte ownership lineage gives Nuvoland a different governance profile than a pure-play developer founded by a construction family. Both founders are from established Filipino media families and have public business histories that can be independently verified. That said, the developer's recent project pace has slowed compared to the 2010 to 2014 period when it earned its top-10 ranking. A foreign buyer should ask for the current development pipeline, the percentage of marketed phases that have actually broken ground, and the average delivery variance across the last three completed projects.

Metro Manila condominium delivery has been disrupted across the sector by the 2024 to 2025 POGO closures, which removed a significant block of tenant demand from older office and serviced apartment buildings. Nuvoland's residential focus partially insulates it from this, but ask specifically about pre-sales velocity and any project repositioning.

Bektu maintains foreign-buyer developer verification profiles for Philippine condominium developers including Nuvoland at https://bektu.com. For broader Philippine market context, see Top township developers Philippines foreign buyers 2026.