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China President Xi Jinping commits to support President Duterte’s ‘Build Build Build’ program

As the Philippines continue to enjoy warmer relations with China, China president Xi Jinping solidified his country’s commitment to President Duterte’s ‘Build Build Build’ platform.

In a report from the Philippine Information Agency, speaking before renowned businessmen and leaders from government led by Chinese President Xi Jinping, President Duterte said the “Build, Build, Build” program will not only upgrade the country’s infrastructure but also provide interconnectivity between people and communities, create more jobs, and strengthen the investment climate leading to sustained inclusive growth.

“Our Build, Build, Build program will provide the solid backbone for growth. This will continue to upgrade the infrastructure, connect more people and communities and create more jobs. Already we have started a three-year rolling program amounting to over US$69 billion until 2022,” Mr. Duterte said.

Of this, President Xi Jinping was quick to say “China fully supports your Build Build Build program.”

Colliers added that Chinese investors accounted for 10 percent of SM Prime’s international condominium sales in 2017, an improvement from less than five percent in 2016, while Chinese buyers accounted for nearly 50 percent of Ayala Land’s international sales last year.

“The takeup from Chinese investors helped propel Metro Manila condominium sales to a record-high 52,600 units in 2017 from 42,500 in 2016,” Colliers said.

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