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SG Philippine properties draw strong interest in Gulf

Property Here - Wednesday, May 08, 2013

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By Nikki De Guzman:

Top developers from the Philippines recorded more than AED100 million (S$33.5 million) worth of sales at the recently concluded Pinoy Property Show in Dubai. The three-day exhibition held at the Dusit Thani hotel attracted over 3,000 visitors.

According to Gulf News, the majority were expatriates looking to buy Philippine properties such as condo units prices between AED180,000 and AED314,000 (S$60,350 - S$105,277).

Gracing the event was Philippine Consul General Frank Cimafranca. He said: "The show translates the great demand on real estate in Philippines which is currently experiencing the best market for real estate and it is perceived to sustain its growth in terms of office, residential, and leisure sectors. A significant percentage of the overseas remittances escalated the remarkable sales of residential condominium market last year. With the migrant workers' buying potential, Overseas Filipino Workers (OFWs) fuel the market boom.”

Among the participating developers were Robinsons Land, Ayala Land, Vista Land and Century Properties.

Meanwhile, more developers are expected to participate in the second show to be held in Saudi Arabia this October.

Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email