THE association of property developers in the Philippines said on Tuesday that it is confident to bring new investment opportunities into the country, given the growing interest from foreign investors to do business here, particularly in the real-estate sector, on the back of resilient national economy and ongoing massive infrastructure developments.
The local chapter of Paris-based Federation Internationale des Adminstrateurs de Biens Conceils et Immobiliers is certain to achieve this as it hosts the 71st World Real Estate Congress at the Marriott Convention Center, from May 26 to 30. FIABCI-Philippines expects that around 1,700 foreign and local delegates will attend this five-day event.
“I hope there’ll be businesses [to be created] out of this Congress,” FIABCI-Philippines Chairman Emeritus Florentino Dulalia Jr. said during the event’s media launch at the Shangri-La Hotel in Makati City. “In fact, there are many inquiries [from] abroad to partner with us because they hear that the Philippines is a good investment [destination], especially in matters of real estate.”
For instance, he bared that the Ciputra Group, a property giant in Indonesia, is eyeing to invest in the country via a partnership with a major local real-estate company to acquire and develop around 250 hectares of land into a township development.
“I will connect [them during the conclave],” Dulalia told the BusinessMirror in a sideline interview, without divulging any further details.
In addition, he bared that he already had gained the support of the Asian Real Estate Association of America, confirming the participation of at least 30 of its members in the event.
“They will have a road show in the Philippines [during the summit]. So they have already businesses in mind before getting here,” said Dulalia, who will formally assume the presidency of FIABCI International during the global congress.
FIABCI-Philippines President Arch. Nestor Mangio, on the other hand, disclosed an offer to develop an old structure in Barcelona, Spain, which used to be a bullfight arena, into a mixed-use development comprised of commercial, residential and retail structures.