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Serious investors flock to PPIE

In what was seen as a validation of overseas Filipino workers’ growing purchasing power and strengthening confidence in the economy back home, the just-concluded Philippine Property and Investment Exhibition (PPIE) has once again pooled in investors, property developers, franchise companies, banks and other leading companies in what is now dubbed as the biggest one-stop investment hub for Filipinos.

DUBAI: Filipinos in the UAE were treated with discounted property deals and easier payment terms, including loan assistance in the just concluded Philippine Property and Investment Exhibition (PPIE). Some 3,500 overseas Filipinos, mostly young professionals and couples from across the UAE, gravitated to the much-awaited two-day, weekend event with serious inquiries about the Philippine real property situation. Hundreds of them signed up for special deals including those as low as Dh1,200 a month in down payment for two-bedroom units in busy cities like Pasig.

The property show validated findings about the overseas Filipino workers’ growing purchasing power and strengthening confidence in the economy back home, which has, for its part, posted the highest GDP in Asia at seven percent, according to Philippine Statistics Authority (PSA).

Tradingeconomics.com, said it was the “fastest expansion since the June quarter 2013,” adding that for the first six months of 2016, “the economy  expanded 6.9 percent, faster than the 5.5 percent growth in the same period a year earlier.” Colliers International, a global real estate firm said, the Philippine property market is “expected to continue treading its growth path.” “Macroeconomic fundamentals remain robust and should sustain the Philippine property market’s growth for the remainder of the year,” it said.

The economic growth’s tangible results are record low lending interest rates and fast property value appreciation, which together makes real property an attractive investment for OFWs, officials said. “When I started in real estate 25 years ago, the interest rate was 32 percent. Now it is down to six,” Manuel U. Arbues II, regional head for North America and Middle East Ayala Land International Sales Inc. said during an interview at PPIE.

Ayala Land’s Avida’s appreciation value was 50 percent from 2010 to 2016; annual appreciation rate is at 10 percent, according to Jay M. Sebastian, the company’s international sales manager.\ Ortigas Center has the “highest residential rental” yield among Metro Manila’s key business districts at 94 percent according to Colliers and KMC Saville.

Greenfield Development Corp. (GDC) said property value in Sta. Rosa, Laguna is hitting 15% a year, said Jem Lim, GDC senior sales director, citing Pramana, a residential development by GDC in Sta. Rosa whose value was at between P7,000 and P8,000 per square meter in 2008 and now has gone as high as between P27,000 and P30,000 per square meter.

Done transactions

Ortigas & Co. had seven closed transactions, 107 registered inquiries and 28 “workables,” according         to Travis P. Mishuku, head of the company’s international sales group. “Our overall assessment about the event turnout was definitely above what we expected as compared to last year,” Mishuki said. “Turn out for inquiries and sales generated were definitely very good as last year we only closed three transactions during the event itself with lesser workable accounts to work on afterward,” he added. Mishuku said the event’s venue – Amal Ballroom of the J.W. Marriott hotel in Muraqqabat, Deira – as well as the layout of booths “were perfect.”

“Despite not being near the entrance, our location gave us a little bit more privacy and a feel of exclusivity as it is quieter and made clients feel very comfortable trying the Virtual Reality viewer,” he said, referring to the company’s state-ofthe- art marketing tool, which made use of a visual aid that enabled prospective clients to experience a “feel” of the whole unit without having to go to the Philippines. “For developers like us, virtual reality is the best tool for selling properties. Our marketing has to think of ways to be different.

To actually be more engaging and to be able to communicate well to our interested clients, not only here but to all anywhere in the world,” he said. For his part, Rafael J. Escalambre III, Ortigas & Co. senior sales director said “quality investors ang mga dumating.”

Lim, GDC senior sales director, for her part said their company closed 10 transactions during the event, and has over 20 “workables.” “It has been very productive,” she said “Most of those who came ay talagang ready to invest.” Jacklord P. Pena, Ayala Land international property specialist, said, “overall the event was good,” adding that there were “potential buyers.” Kim Myron M. Maraan, branch manager, Avida Sales Corp. of Ayala Land said “majority of the OFWS have interest to invest.” Ayala Land has been with PPIE since the event’s inaugural edition.

Keen clients

“Maraming nag-inquire at very positive ang turnout,” said Vince Lubrin, SMDC real estate broker. He said SMDC was able to close five transactions on the spot and has up to 90 “workables.” “There were many possible clients, some were very keen on investing talaga as evidenced by the fact that may mga nag on-the-spot reservation. Some visitors came all the way from Abu Dhabi and Al Ain,” Lubrin said.

Lubrin said eight out of 10 walk-ins at their booth were serious inquiries. He said 70 percent was composed of working professionals, and 20 percent were of other nationalities who became interested in investing in the Philippines because of the new administration and the economic growth back there. SMDC has also been participating at PPIE since its inaugural edition in 2014.

Lea Dioquino, Hausland unit manager, they were also able to close satisfying number of deals. Michelle Mirano, real estate broker with DMCI Homes, said they ran out of flyers and business cards due to the large volume of foot fall. “There were many clients who ended up taking pictures of our roll-ups,” she said. She said DMCI closed 10 transactions.

Architect Wilfredo “Jon” Llarena, Jr. Megaworld satellite office manager in the UAE, said they were able to close four transactions with five “workables.” “Maganda ang outcome kasi the attendees were serious hindi yung paikot-ikot lang na parang namamasyal,” he said. Ed Punzalan, BDO Unibank senior manager, meantime said they were able to open 38 accounts with ENBD to which they have a partnership with; closed three DirectRemit transactions, a program which allows an OFW to send money home in 60 seconds free of charge provided he or she has an ENBD account; and as well closed 12 online banking deals.

He said BDO Unkibank has over 50 “workables.” A closed transaction is one where both parties have agreed in principle regarding a procurement. Usually half of the “workables” convert into actual transactions. The PPIE was held on 23-24, 2016.

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