Six Reasons Why the Philippines is the Newest Investment Destination for Middle Eastern Investors
With the Philippines’ stable economic growth, more and more investors are attracted to invest in the Philippines, particularly in real estate. The Middle East market especially UAE has seen an increase in terms of property investment in the Philippines, making the Philippines one of the most lucrative investment destinations for the Middle East investors.
Commenting about this performance, Janice Ong, Ayala Land Manager in the UAE said, “We at Ayala Land have seen an overwhelming increase of real estate investors for the last couple of years. In fact, Ayala Land has set-up an office in Dubai to service the current investors”
“We have been doing several activities in the region such as seminars and exhibition to further educate the public especially the locals from the United Arab Emirates to invest in the Philippines.”, she added.
Here we have listed the top reason why now is the best time to invest to the Philippines:
(1) ECONOMIC STABILITY
For the past 3 years, the Philippines proves that it has a stable economic performance by increasing its annual GDP rate to 1.5 – 2.0 quarterly. One of the growth strategies is the “Build Build Build” program of the Philippine government developing the infrastructure in the country. In a few years’ time, the Philippines will have its own subway, expand its train system, and develop more road networks making the cities more accessible to one another.
This economic growth and stability has attracted local and foreign investors. In December 2018, Ayala Land Inc., the Philippines’ top provider of real state and leading developer of sustainable estates, offering a diverse mix of properties such as residential, retail, office, hotels, and leisure developments, announced a 22% increase of investments from the Middle East region.
(2) FILIPINO POPULATION
Middle East is one of the biggest residential region for Filipino expatriates and in UAE alone, there are more than 700,000 Filipinos living and residing, making it one of the biggest communities in the country. With that number, Filipinos are a force in terms of retail and investment attracting several companies to invest and have a share of this dynamic market. Due to the number of Filipinos living in the region, more investors are growing confident to invest in the country as they feel at home since they have been interacting with a lot of Filipinos within the country as a colleague, household staff, and family member.
(3) EASY COMUNICATION AND MELTING POT OF CULTURE
With almost everyone in the Philippines speaking basic English, it is easier for any investor to make transactions and coordination when dealing about business. In fact, the Philippines is the world’s third largest English-speaking country and is home to several tourist and foreign students. The country is diverse with several influences; from Spanish, American, Japanese and now Korean and Middle East, so it is considered as one of the most welcoming, multi-cultural countries in the world.
(4) VALUE FOR MONEY
The Philippines’ is one of the world’s fastest growing economy and undoubtedly, here you can find the most reasonable property investments in the world. Real estate investment aims for the new generation to create income through purchasing, leasing, managing or selling a piece of realty property for a higher price that it was acquired.
(5) GATEWAY TO ASIA AND THE PACIFIC
The Philippines plays a vital role of the new emerging economic block of the ASEAN region. Its strategic location for trade and industry makes it more appealing for investors to have a footprint in the country. The country’s direct connectivity in any parts of the world makes it one of the best investment destinations in the world.
(6) TRUSTED BRANDS
Big names in several industries created their own offices in the Philippines as they believe that the country is changing its economic drive for the coming years. Brands such as Coca-Cola, Google, Samsung, Microsoft have established their own offices and not to mention hospitality brands such as Shangri-La, Sofitel, Marriott International, Peninsula, Hyatt and Nobu.
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