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 Thomas Mirasol, Ortigas & Co. senior vice president and chief operations officer.
Mirasol said the company’s best-selling projects for the overseas Filipino market are at Circulo Verde “simply because it provide great homes for younger families and the area is very secure, with lots of open spaces and green areas for kids and pets.”
Circulo Verde is in a good location along C5 road in Quezon City and it is very close to choice shopping, dining and entertainment areas, he said.
Mirasol meantime said it is difficult to say what exact percentage of property sales are by OFWs.
“In fact,” he explained, “when measuring overseas sales, many developers don’t make a distinction between OFWs, former Filipinos coming back to retire in the Philippines and foreign buyers.”
Nontheless, Mirasol said he has seen documents where developers report anywhere from 10 percent to as much as 60 percent of sales coming from overseas buyers.
“What drives this wide range of numbers are the availability of suitable inventory and a capability of a developer to service overseas buyers,” he said.