98% of Filipinos in UAE confident about positive change in the Philippines

Filipinos in the UAE are very optimistic that the quality of life and the investment environment in their home country are on its way to seeing good improvements. A survey conducted by New Perspective Media (NPM), organisers of the annual Philippine Property and Investment Exhibition (PPIE), showed that a whopping 98 per cent of Filipinos in the UAE believe true positive change is coming to the

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Ortigas & Co. sees ‘significant sales growth’

DUBAI: Pioneering real estate developer, Ortigas & Co. will this year be focusing on Overseas Filipino Workers (OFW) to further boost sales. “Ortigas’ overseas sales are expected to grow significantly this year. In previous years there wasn’t as big an effort to tap the OFW market. This year, we hope to have 10 percent to 15 percent of our sales coming from overseas buyers,” said Tho

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Megaworld sets aside P55-b for expansion

DUBAI: Megaworld, along with its subsidiaries, will this year be allocating P55 billion for its rental portfolio expansion , particularly malls and offices, according to Roselou T. Jomah, the realty company’s assistant vice president for sales in the Middle East and Africa. “Seventy-five percent of the capital spending will be used to construct new malls, commercial centers and office buildi

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UAE represents 30% of ME remittances to PH

DUBAI: Remittances from the estimated 750,000 overseas Filipino workers (OFWs) in the United Arab Emirates (UAE) totalled $2.11 billion last year, which is some 30 percent of the total $5.98 billion sent home from the Middle East region, said Gemmy Lontoc, UAE Exchange’s head for its Southeast Asia corridor. This, officials said, partly explains why major real estate developers, in an apparen

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Real estate seen to drive PH growth

DUBAI: The services sector, particularly real estate, is expected to drive the economic growth of the Philippines in the succeeding years, said Roselou T. Jomah, Megaworld International’s (MI) assistant vice president for sales in the Middle East and Africa, “Demand will be driven by a number of factors, resulting in a well-distributed growth across the sector. The continuing growth in the

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Duterte gets business sector’s approval

‘This is expected to sustain the economy and demand for real-estate should continue to grow.’ DUBAI: The economic and social policies announced by President Rodrigo Duterte and his team “have been well-received by the business community and this is expected to sustain the economy and demand for real-estate should continue to grow,” said Thomas Mirasol, Ortigas & Co. Senior VP

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Growth seen to push outside usual CBDs

DUBAI: Cities directly around the periphery of Metro Manila will see growth. Makati, Ortigas and Quezon City’s upscale residential villages will likely become even more pricey. Residential condominiums and townhouses in quiet suburbs will grow as well as primary home properties that incorporate healthy lifestyles. More population will move to SM's Bay Area, Aseana City and Megaworld's Newp

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Developers still have a long way to go to get bulk of OFW market – study

DUBAI: The chunk – or some 47.2 percent – of the $7.2 billion in remittances that Overseas Filipino Workers (OFWs) around the world sent home in the first three months of the year was spent on housing rents and utilities, indicating that real estate developers in the Philippines still have a long way to effectively market their products, said a ranking UAE Exchange official. Citing results

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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

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SMDC bullish with 11 pipeline projects

DUBAI: SMDC, a real estate developer in the Philippines, remains bullish in 2016 with 11 new projects on the pipeline to be launched this year, said Vince Lubrin, the company’s international property specialist. Citing a “robust growth” in economy and a “strong demand” in real estate, SMDC projects its sales for 2016 to be at Ph 60 billion. Lubrin told The Filipino Times the proj

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