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I seek Filipinos abroad and real estate service practitioners of other countries and invite them to join me in my international property business.
The Philippines is America's closest ally in Asia. It got its independence in 1946 but they have been together for over a hundred years.
The interest of investors in the Philippines may be attributed to the following:
* The local currency has reached a 5-year high this year and continues to be strong and resilient.
* Among the 25 priority infrastructure projects expected for completion by 2010 are the LRT line 1 to NAIA, the P21 billion Subic-Clark-Tarlac Expressway, the P6.9 billion Subic Port development the P1.3 billion North Expressway-South Luzon Expressway connection via C-5 Project, and the Edsa Rehabilitation Project. Six of the major projects are set to be completed by March 2007.
* The Philippine Stock exchange hit a nine year record in 2006 and opened 2007 some 30 percent higher and continues to be strong.
* The overall business climate is upbeat and industry leaders and CEOs perceive that 2007 and 2008 will be even better.
* The Philippines has emerged a strong second to India in the global outsourcing market. In 2006, it recorded $3.6 billion in earnings, a 50%-percent jump from 2005 and by 2010 it is expected to earn as much as $12.2billion.
* Big outsourcing players in the U.S. such as Sykes Enterprises, Convergys, PeopleSupport Inc, Accenture, and eTelecare Global solutions have already set up headquarters in the Philippines, and Dell computers recently opened a contact center and is on schedule to open a second one this year. The Philippines is becoming a much preferred option as it has stronger cultural ties to the United States than India, and it is expected to catch up and even overtake India as market leader.
* Remittances from Filipino Expatriates have grown to over $1.2billion dollars a month!
* The country is on the verge of the biggest real estate boom in history, set to totally eclipse the 1997 Asian crisis, and fueled by money from Overseas Filipinos, foreign investment, and a strong and bullish economy.
* A surging demand for real estate is expected to sustain a continued surging growth of the Property industry.
* The current economic managers of the country have remained steadfast in pursuing a blueprint for an economically prosperous future.
I welcome inquiries on properties wanted by investors.
Incidentally, foreigners can buy condominium units in the Philippines.
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