By
Richmond Mercurio (The Philippine Star) | Updated January 19, 2017 -
12:00am
MANILA,
Philippines - Property consultancy Santos Knight Frank Inc. remains upbeat on
prospects for the Philippine real estate market this year on the back of the
country’s robust economy and newly-forged international alliances.
Santos
Knight Frank chairman and CEO Rick Santos said the Philippine real estate
industry will continue its expansion in 2017 following a stellar performance
the previous year from across various sectors such as office, commercial,
residential, industrial and retail.
“We’re
very optimistic about the growth of the real estate industry in the
Philippines, which has been driven by favorable demographics, continuing
foreign direct investment, BPO expansion, strong overseas remittances, and
continued infrastructure development,” Santos said.
The
property consultancy firm believes the strong economic performance of the
Philippines in recent years is showing no signs of slowing down.
With the
Philippines also forging new international alliances and attracting a wide net
of investors, Santos Knight Frank said new sources of funds such as China will
also accelerate the growth of the industry especially in the residential and
industrial side.
“The
economic fundamentals that have positioned the country on a prime spot in
global investments remain extremely strong. We believe that the government’s
socio-economic agenda and infrastructure program will further propel gross
domestic product (GDP) in the years to come,” Santos said.
The firm
said the Philippines would likely see Metro Manila continue to grow as the
urbanization trend continues.
With the
strength of the US currency, Santos Knight Frank also expects the outsourcing
industry to continuously expand across the country and generate new jobs
specifically in new wave cities such as Clark, Cebu and Davao.
“With
1.6 million square meters of office space underway in the Philippines this
year, the need for a professional and efficient service provider of facilities
management, project management, property management, and technical services is
of utmost importance.
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