Know the pulse of the country’s real estate industry. Here are the top five stories this week to keep you updated with the current developments of the industry.
This week CDC Holdings reports that the company’s gross income went up in the year 2015. Meanwhile, real estate consultancy firm CB Richard Ellis Philippines (CBRE) believes that the Philippines can lead property growth in the region, and that the country’s industry growth continues to be sustained by OFW remittances and the BPO industry. There’s also news of a potential earthquake that can cause devastating damage in Metro Manila.
CDC Holdings gross income up 18%
CDC Holdings, Inc. announced that its 2014 gross income last year reached Php 1.158 billion. It is an 18% increase from 2013’s Php 975 million. “2014 has been a very positive year for us, providing us a springboard to achieve greater heights in the coming years,” CDC Holdings chief operating officer Charlene Chua-Sy said.
MyProperty; May 28, 2015
West Valley fault line and its potential damage to Mega Manila
Phivolcs is predicting a 7.2 magnitude quake that can cripple Mega Manila. Should the earthquake strike in this lifetime, the potential casualty count can reach 33,500. This does not count deaths that can occur due to events in the aftermath. Phivolcs strongly suggests that homeowners make necessary steps, such as strengthening the structure of their homes, to at least mitigate damages.
MyProperty; May 26, 2015
PRC releases May 2015 Real Estate Broker Licensure examination results
The Philippine Regulation Commission announced that 5,220 examinees out of 10,370 passed the licensure examination which was administered by the Board of Real Estate Service in Manila, Baguio, Cagayan de Oro, Cebu, Davao, Iloilo, Legazpi, Lucena and Tuguegarao this May 2015.
MyProperty; May 29, 2015
Philippines has potential to lead growth in ASEAN property development
Real estate consultancy firm CB Richard Ellis Philippines foresees that the Philippines can lead the Association of Southeast Asian Nations (ASEAN) in terms of growth and development in property development.This is after the Philippines real estate industry was able to sustain its growth in the first quarter of 2015.
GMA; May 27, 2015
OFW Remittances, BPO sustain industry’s Q1 growth
On a separate report, CBRE affirms that the country’s property sector grew “more aggressively” in the first quarter of the year than in previous quarters. This is due to remittances from overseas Filipino workers (OFW), and the booming business process outsourcing (BPO) sector. “The Philippines’ strong macroeconomic environment—manifested in its young and educated demographic, strong private consumption, growing BPO industry and OFW remittances—continue to shield the country from external shocks,” Rick Santos, president and chief executive officer of CBRE Philippines said in a briefing.
Manila Times; May 27, 2015