SHANGHAI -- Department of Trade and Industry (DTI) Secretary Ramon Lopez revealed on 7 November that the Country Garden Group, one of China’s biggest property developers, has expressed interest to expand various business operations in the Philippines (PH) and to explore investment opportunities in the country.
"More investors, like Country Garden, have expressed their confidence in the country’s economic stability and business environment under the Duterte administration. They wish to partner with us in providing more jobs and opportunities for Filipinos," said Sec. Lopez.
At the sidelines of the China International Import Expo (CIIE), Country Garden’s General Manager Wang Xingjun conveyed to the DTI Chief their intention to partner with Filipino property developers in order to expand the Country Garden and Rise Land brands in PH. The company intends to open hotels as well as offer middle-class and affordable residential properties. Mr. Wang also said they are looking at PH investment opportunities in the areas of construction and building materials.
The group runs a centralized and standardized business model that comprises property development, construction, decoration, property management, property investment, as well as hotel development and management. It has developed more than 1,000 residential, business and urban construction projects in China, Malaysia, and Australia, and offers its services to over three million property owners.
The trade chief offered DTI’s assistance in linking the group with possible Filipino partners. Sec. Lopez also conveyed PH’s openness to investors and government’s efforts in opening the local market to foreign investors.
Meanwhile, DTI Undersecretary Nora Terrado opened the discussions about the probability of partnership of Country Garden–which currently has 200 schools in China–with PH universities. She highlighted that collaboration in the education sector would benefit both parties as Chinese teachers, who wish to learn English, can learn from Filipino teachers. Meanwhile, the latter can also learn Mandarin.
According to Mr. Wang, the group is planning to have the project announcement during the visit of Chinese President Xi Jinping to PH this November. (PR)