DUBAI: The Philippines stands to gain from China’s ongoing economic slowdown being the “best alternative for investors to open businesses in because of affordable labor costs and the Filipinos’ English competency.”
This according to Vince Lubrin, international property specialist at SMDC, one of the key players in the Philippines’ real estate sector, who pointed out that “ foreign direct investments have increased significantly from Ph173 billion in 2004 to Ph280 billion in 2014,” indicating, he added, that continuous inflow of fresh investments is not far-fetched.
One attraction would be prices of real estate in the Philippines which, Lubrin said, have remained relatively low compared to its neighboring countries with around 7.53 percent rental yield as against, for instance, Singapore’s 2.83 percent , considering that prices of properties in Singapore is five times higher than the Philippines’.
“That is why foreigners invest in our country,” he said. Top finance officials across the globe have voiced concerns over China’s slowdown – the country’s economy is the world’s second biggest, and a slump in feared to create serious challenges to global growth.
Following almost three decades of consistent double-digit growth, experts said China’s economy has been showing signs of slowness. China is reportedly shifting from manufacturing-, exports- and investments-based economy to one focused on domestic consumption and services.
