MANILA, Philippines – The real estate industry has unveiled a four-point wish list for the new administration, including a more proactive move to support the Real Estate Investment Trust (REIT) because this can bring in an additional $1 billion worth of investments in the industry.
“We are asking the new administration to support the REIT Law,” Rick Santos, chairman of international property firm CB Richard Ellis Philippines, told The STAR in an interview.
The other three items in the wish list are: Support for the business process outsourcing (BPO) industry; ease of access to property by foreign investors; and infrastructure support.
As an added measure, Santos said the government can institute reforms in the judiciary. On the positive side, Santos said security risks are not a concern anymore for investors. “This is not stopping the investors from coming here. It is not a major concern.”
For the BPO, Santos said there is a need to continue making the country an attractive destination because the BPO industry is the leading market for office spaces.
On foreign ownership, Santos said there would be a need to amend the constitution in order to make it easier for non Filipinos to buy land in the country. “I understand that constitutional amendments are needed and this may not come in the near future.”
However, he said the government can focus on constructing infrastructure that will make the Philippines a viable investment destination. For instance, he said airports can be refurbished and the railway system can be improved.
Meanwhile, most big players in the real estate industry are seriously entertaining the possibility of raising capital through REIT. By the third or fourth quarter of the year, Santos estimated that a total of $1 billion will be infused.
“The REIT Law is the most positive thing that happened to the industry because it created transparency and liquidity in the market,” Santos explained. –Ma. Elisa P. Osorio (The Philippine Star)
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
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July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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