Posted on March 8, 2017
Growth outlook for the Philippines’ property sector is booming due to the increasing interest from foreign investors in various industries. Most of these foreign investors are from other Asian countries such as China, Singapore, Japan, South Korea, Taiwan, and the United States.
A local real estate advisor, CBRE Philippines stated that international firms are seeing the Philippines as the “next big trade partner”. This outlook helps drive investment interest in the Philippines’ property sector.
The boost of interest from international investors mainly comes from various sectors and industries such as the retail, semiconductors, information technology, and construction.
An Asian country is showing a strong interest to invest and do business in the Philippines – Taiwan. CBRE stated that the strong interest from Taiwan investors is triggered by their ideas to spread, broaden, and reach out to neighboring countries. This idea is a part of the Taiwanese government’s new Southbound Policy.
The business process outsourcing (BPO) industry remained its industry boosting and booming, and continued to retain its title as one of the top and favorable outsourcing destinations around the world. The said title was attained due to the abundance of the large pools of workforce who are proficient in English and highly-qualified employees. Aside from this, Philippines has a cost-efficient environment which is suitable to operate.
Aside from the business process outsourcing industry, another sector in which global investors are interested in is the construction sector. CBRE said that in the second quarter of the year, interest from foreign investors continue to drive demand in the outsourcing sector.
The growth of the hospitality industry is also being supported by the demand for office space and business process outsourcing services from foreign companies.
“More tourism developments are still in the pipeline as tourist arrivals are continuously increasing and infrastructure developments still ongoing,” CBRE emphasized.
Aside from the tourism industry, the retail industry is also expanding as more foreign brands enter the Philippine market.
Foreign Investors show appetire for PH Economy, The Manila Times