(The Philippine Star) | Updated May 15, 2014 -
12:00am
MANILA, Philippines - Leading
commercial real estate consultancy CBRE Philippines spearheaded discussions on
the outlook for real estate in the country in various regional conferences and
forums recently.
An overview of the Philippines as one
of the ripest real estate investment locations in Asia was presented in the
Real Estate Asia Outlook 2014 conference, held at the Four Seasons Hotel in
Singapore. Leading developers and advisors from the Philippines, Malaysia, and
Indonesia gathered and discussed the trends, challenges, and opportunities
present in their respective markets.
According to CBRE Philippines,
investment and business development opportunities in the country will continue
to improve as robust economic growth is estimated at 7 to 8 percent this year.
The thriving industry, propelled by the consumption-driven market, quality
labor pool, and influx of multinational companies, BPOs (business process
outsourcing), and foreign expatriates, puts the Philippines on the list of
emerging countries in Asia.
Cooling measures in other countries
have also strengthened investor interest in the Philippines, where expansions
are already currently underway. In Malaysia and Indonesia, meeting the demand
for residential, office, and leisure spaces are likewise being affected by the
macroeconomic trends, implemented regulatory policies, and innovative
development projects.
“Learning from the best practices
established by leaders from other countries enables us to better identify the
most viable solutions, strategies, and judgment when it comes to real estate
developments and improvements,” stated Rick Santos, chairman and founder of
CBRE Philippines.
Santos similarly spoke on prospects of
the Philippine real estate industry at the Asia Pacific Real Estate Association
(APREA) forum at the Hotel InterContinental in Makati City. An important topic
tackled during the industry meet is the impact of real estate investment trust
(REIT) on Asian economies, presented by Ken Atchison, managing director of
Atchison Consultants and Victor Yeung, managing partner and chief investment
officer of Admiral Investment Limited.
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