Some foreign investors have expressed interest to build mixed-use projects in the Philippines, a property consultancy firm said on Tuesday.
“We are quite busy. There are a lot of foreign investors also looking into the Philippines to build mixed-use projects or to either to do joint ventures. Some are looking out of towns, some are looking inside the Metro,” Lobien Realty Group Inc. Chief Executive Officer Sheila Lobien said during the “Regroup and Rally: Bouncing Back Better” online forum organized by The Manila Times.
Lobien said that despite the pandemic, there is still a very good demand and interest here in the Philippines.
“Investors are saying that the market outside US and Europe is not that good and so the margin that they’ll make out there will not be as good if they will build here or invest here in the Philippines,” she said.
“There are a lot of risks but with that risks are also big rewards. If they’ll be able to execute their project and be successful here in the country, then they are expecting a bigger margin here in the Philippines and that’s good news for us in the real estate market and the Philippines also because that will mean jobs in the country,” added Lobien.
According to Lobien, some investors are also eyeing to build data centers.
“Couple of groups approached us also and they are looking at putting up a data center in the Philippines so maybe that’s another source of demand for the next few months,” she said.
Lobien pointed out that the pandemic could also serve as an opportunity for those who want to purchase properties.
“A lot of developers are giving good incentives and better payment terms. So if you want to look at properties now is the best time to canvass and source. Aside from the low interest rates and higher ceiling that the [Bangko Sentral ng Pilipinas] has given to the banks, landlords can take loans to start building their projects and Filipinos can start looking for properties that they want to acquire,” she said.
“If you have a lot of money, it’s the best time to go on property hunting right now because many owners are willing to unload their assets to be more liquid. There’s always an opportunity in the real estate market,” added Lobien.
Read more: https://www.manilatimes.net/2020/10/21/business/business-top/foreign-investors-eye-mixed-use-projects/783315/