Real-estate sector fate tied with ‘POGO’-expert

Published by rudy Date posted on August 16, 2019

By Samuel P. Medenilla, Business Mirror, Aug 16, 2019817

FOR good or for bad, the fate of they country’s real-estate industry is now tied with the Philippine Offshore Gaming Operators (Pogo), which employ hundreds of thousands of foreign workers whose need for housing and work stations has caused property rates to spike.

Ateneo Center for Economic Research and Development Director Alvin Ang warned on Thursday that the country’s real-estate industry may be overly reliant on the locators and foreign workers of the Pogo for their business activities.

“If they will suddenly pull out, our real-estate sector will decline since its growth relies on them,” Ang said in a forum on Thursday.

He cited reports from Colliers International which showed the demand of Pogo firms for real estate shot up 37 percent for the first half of the year.

Meanwhile, property demand of knowledge-process outsourcing and voice-process outsourcing firms declined by 14 percent, and 9 percent, respectively. Ang said the local consumers will not be able to immediately replace foreign-dominated Pogo firms in purchasing.

“The problem is, the prices of properties are currently high so the absorptive capacity of local consumers will not be able to cope with it. It will take some time before the prices go down,” Ang said.

Former Socioeconomic Planning Secretary Cielito Habito said China may be already aware of this and may soon be able to take advantage of it.

“China came out with a statement they will crackdown on Pogos….Now some mischievous thinkers are thinking this may have some relationship with the President’s pronouncement that we are going to invoke the arbitral ruling on the territorial dispute,” Habito said.

He theorized the Chinese have been quietly assessing the situation after becoming aware “that it has been benefiting our economy, especially the real-estate sector.”

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)
of Myanmar.  Reject Military!

#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos

Time to support & empower survivors. Time to spark a global conversation. Time for #GenerationEquality to #orangetheworld!

July


3 July – International Day of Cooperatives
3 Ju
ly – 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

Categories

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.