Developer embarks on retirement homes for foreigners, OFWs

DUBAI: A developer has been authorized by the Philippine Retirement Authority (PRA) to facilitate applications by foreign retirees for a special visa that would enable them to stay in the country as long as they want without losing their citizenship.
This according to Roselou T. Jomah, Megaworld International’s (MI) assistant vice president for sales in the Middle East and Africa, who told The Filipino Times their company is now processing Special Resident Retirees Visa (SRRV) for those wanting to spend their retirement at or invest in MI properties.

SRRV is a special non-immigrant, multiple-entry, indefinite-stay visa.

“Megaworld has always been in the forefront in assisting our government agencies in enticing foreign nationals, former Filipino citizens and overseas Filipino workers to invest and retire in the country,” said Jomah.
“Megaworld and the Philippine Retirement Authority (PRA), as an attached agency of the Department of Tourism, has been working hand in hand in attracting foreign nationals and former Filipino citizens to make the Philippines their second home or retirement destination,” she added.
The MI properties are Noble Place in Binondo, Manila; 8 Newtown Boulevard in The Mactan Newtown, Cebu; One Central, Two Central, Three Central, Paseo Heights and Greenbelt Hamilton in Makati CBD; One Uptown Residence and The Venice Luxury Residences in Fort Bonifacio.
Jomah said two of Megaworld’s luxury residential condominiums in Mactan Newtown, Cebu; 8 Newtown Boulevard and One Pacific Residence, have been sold out mostly to Japanese retirees. “Through Megaworld’s partnership with PRA, foreign investors can now retire in The Mactan Newtown and get a Special Resident Retiree’s Visa (SRRV),” Jomah said.

She meantime added that Megaworld International, has also been reaching out to more Filipinos based abroad through its global network of satellite offices, to make property acquisition easy and convenient for overseas buyers.

“Satellite offices serve as a one-stop shop for prospective buyers and clients who would like to more about our projects and invest,” Jomah said.

Megaworld International currently have 16 satellite offices: Los Angeles, USA; California, USA; San Diego, USA; Ontario, Canada; New York, USA; Rome, Italy; Madrid, Spain; London, UK; Dublin, Ireland; Vienna, Austria; Tokyo, Japan; Singapore; Bahrain; Doha, Qatar; Muscat, Oman; and Dubai, UAE.