Despite subdued GDP, developers can expect sustained demand: Colliers | SunStar

Despite subdued GDP, developers can expect sustained demand: Colliers

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Despite subdued GDP, developers can expect sustained demand: Colliers

Saturday, May 20, 2017

DEVELOPERS would be smart to take advantage of the “golden age of infrastructure” that the Duterte administration has promised, by pursuing strategic landbanking outside of Metro Manila, said a commercial real estate services and research company.

While a 6.4 percent growth in the Philippine economy in January-March 2017 was slower than the government’s target, it “reflects the dynamism of major economic sectors such as outsourcing, construction, tourism, and manufacturing,” said Joey Roi Bondoc of Colliers Philippines. These sectors “sustain the demand for key property segments.”

Colliers’ report, released Friday, pointed out that election-induced expenses had propped up the economy in the same quarter in 2016, and that the country’s economy typically slows down a year after the elections.

However, increased infrastructure spending will anchor long-term economic growth and should be considered by local and national developers as they strategize.

“Overall, key macroeconomic indicators point to a relatively stable growth over the next 12 to 18 months and these should provide trickle-down benefits to major sectors of the economy, including property.” PR

Published in the SunStar Cebu newspaper on May 20, 2017.

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