Developers eyed for investment push
By Charles E. Buban
Philippine Daily Inquirer
First Posted 23:37:00 11/14/2008
Filed Under: Construction & Property, Economy and Business and Finance
WITH an economic crisis engulfing the world, inviting foreigners to come and spend some time in the Philippines would seem to be a tough sell even for the country’s tourism department.
But the Department of Tourism is banking on the country’s various property developers to help them attract these potential overseas investors.
“All the elements of a perfect property investment are here, as the Philippines is where they can live their dream lifestyle at a price that suits them. Moreover, as every property development in the country is a community in itself, everything they will need is within their reach,” announced Secretary Ace Durano in a recent statement.
Among the property developers Durano acknowledged were Ayala Land, DMCI Homes, Eton Properties, Federal Land, Fil-Estate, Filinvest, Highlands Prime, Landco Pacific, Megaworld Corp., Nuvo Land, Robinsons Land, Rockwell Land, Shang Properties, SM Development Corp./SM Investments Corp., Sta. Lucia Realty, Subic Holiday Villas and Vista Land.
Ideal second home
“Be it either for a vacation or a retirement place, a foreigner can find an ideal second home in one of the projects developed or being developed by one of these reputable firms,” the secretary added citing the country’s scenic landscapes, friendly people, as well as location and affordability of these various property developments.
In fact, the DOT, through its marketing arm, the Philippine Convention and Visitors Corp., recently launched the “Live Your Dream” campaign to actively promote the country not just as a transitory destination for sightseeing and recreation, but also as a permanent second home to foreign investors.
PCVC Executive Director Danilo Corpuz explained this campaign seeks to emphasize the country’s competitive advantages as a destination such as fine weather all year round, spectacular scenic destinations, English-speaking population, ultimate shopping experience in world-class malls or the best bargains in the local market, as well as variety of entertainment destinations that promises to make every foreigner’s dream of a relaxing lifestyle in an exotic locale a reality.
Promote
Tourism Undersecretary for Planning and Promotions Eduardo Jarque Jr. said promoting property investments is one way by which the department intends to attract more foreign tourists in the country, especially those who spend a longer time here or who visit the country on a regular basis.
The department recently announced that the country’s tourism industry is well on its way to hit at least an 8 percent growth in visitor volume by the end of 2008 with tourist arrivals from January to June 2008 going up by 6.9 percent that translated to a 1,633,887 visitors.
Jarque added that most of these property developers also regard these expatriates and tourists as one of their major buyers.
Aside from an online reference—www.liveyourdreams.ph—that shows information on property developments all over the country, the Live Your Dream campaign has just had its first overseas run through the DOT pavilion in the recently concluded International and Property and Investment Show held in Seoul, Korea.
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