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Philippines' real estate sector sustains growth

by MyProperty.phPublished: December 5, 2014Updated: December 5, 2014

The country's real estate sector grows 8.9%, Strong demand remains for housing and office spaces in the country and more

Be aware of the current happenings of the real estate sector. We’ve chosen five real estate news to keep you updated with the country’s real estate industry.

This week, a property analyst firm announced that the country’s real estate industry has grown in the last quarter. It is also projected that our industry’s robust growth will continue as the year ends. Demand for housing and office spaces remain strong as well.

Ayala will not participate in “price challenge” for SCTEX
John Eric Francia, managing director of Ayala, expressed that the company is not interested in maintaining or operating SCTEX (Subic-Clark-Tarlac Expressway), as they do not see what they could gain from it. He also pointed out that the company is interested in the Laguna Lakeshore expressway dike project, because of the 700-hectare reclamation project that is involved with it.
Philippine Star; December 1, 2014

Filipinos from UAE spend earnings on real estate
5 out of 10 OFWs from UAE are reportedly spending their earnings on purchasing homes for them or for their families in the Philippines. Survey results conducted for the PPIE (Philippine Property Investment Exhibition) in Dubai, showed that 20% of expats from 1000 respondents, plan to buy a house within one year.
Yahoo News; December 1, 2014

Property companies participating in bid for the Laguna Lakeshore expressway
24 business companies, many of which coming from the real estate sector, are interested in the largest PPP project (Public-Private partnership project) of the Aquino Administration. Real estate giants JG Summit Holdings Inc., Ayala Land Inc., Megaworld Corp., will be participating in the bid for the P123-billion Laguna Lakeshore Expressway Dike.
Manila Bulletin; December 3, 2014

Philippine real estate industry to sustain growth
According to CBRE Global Research, the country’s real estate sector grew 8.9 percent year-on-year in Q3. CBRE Philippines said that the country’s real estate industry will also be able to sustain its growth, due to “the continuous transformation of cities into business landscapes.”
Manila Standard Today; December 3, 2014

Demand for housing and office spaces in the country remain strong
There still remains a strong demand for housing and office spaces in the Philippines which will buoy the real estate scene next year. CBRE reported that OFWs and BPO companies are the main drivers of demand in real estate.
Manila Standard Today; December 5, 2014

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