Global hotel brands are taking interest in the Philippines due to the emerging gaming scene, while the FDI hit an all time high at the end of 2014
Be updated with the changes of the real estate industry. MyProperty.ph has handpicked five stories during the week for your fix of real estate news.
This week, Colliers International reports that global hotel brands are rushing to build hotels in Manila due to the emerging gaming scene in the Paranaque’s Entertainment City. The BSP also reports that FDI (Foreign Direct Investments) hit an all time high at the closing of 2014.
Global hotel brands rushing to tap Manila gaming scene
According to Colliers International, global hotel brands are starting to take notice of the emerging gaming scene in the Philippines. The Entertainment City is being touted as a solution to the country’s underperforming tourism industry, and hotel brands such as Accor Group’s Novotel and MGallery, Hilton Worldwide’s Conrad, and Wyndham Worldwide Corp’s Tryp will be contributing a large supply of hotel rooms this year.
South China Morning Post; March 11, 2015
Foreign investments hit all-time high in ’14
Foreign investments in the Philippines reached an all-time high last year. According to the BSP (Bangko Sentral ng Pilipinas), FDIs rose more than five times in December alone. “FDI inflows remained robust, buoyed by strong investor confidence in the country’s solid macroeconomic fundamentals,” said the BSP earlier this week.
Inquirer; March 11, 2015
Property developer sets aside P600M for 3 projects in Cebu
Paramount Property Ventures Inc., (PPVI) will be using P600 million for three residential projects located south of Cebu. The first development will be located in Minganilla, Cebu, and will have 600 residential units. The two other residential developments will be located in Carcar. One project will have 1,200 units of economic and socialized housing, while the other project will have a 250-unit mid-market housing.
Sunstar; March 11, 2015
Manny Pacquiao wants to by Jennifer Lopez’s Beverly Hills mansion
Boxing champion Manny Pacquiao opened up that he wanted to purchase a Beverly Hills mansion that was once owned by Jennifer Lopez. The home is currently reported to be around US$ 12 million.
Coconuts Manila; March 11, 2015
Fire Prevention Month kicks off with fires in Metro Manila
Fires raze neighborhoods across Metro Manila as the country kicks off Fire Prevention Month. This is despite the BFP (Bureau of Fire Protection) ramping up their information campaign. It was reported that 23 fires started all over the country within the first three days of March.
MyProperty.ph; March 13, 2015