Real Estate

MANILA, Philippines—Local property developers may find themselves faced with less robust demand from the business process outsourcing (BPO) firms as they strive to make more efficient use of their existing office space.

Strong property sales are often a precursor of economic recovery. The construction phase that follows such sales will lead to a demand for materials such as cement, iron, galvanized sheets, wood panels, nails and copper wirings.

MANILA, Philippines – The Ayala Group has turned more upbeat on the high-end property market given a recent resurgence in demand from discerning buyers, encouraging the rollout of upscale projects for the rest of this year.

DEMAND for high-end real-estate projects in the domestic market is recovering after a slump last year, the Philippines’ biggest property developer said Tuesday.

PROPERTY firms are shifting focus, with mall developers reinventing themselves and housing construction scraping at the bottom, to keep afloat as the Philippine economy teeters into a recession.

The property arm of the Gokongwei group that rate of residential project cancellations stood at the double-digit mark amid a global financial crisis.

THE rental rates for outsourcing offices may fall by 10 to 15 percent this year because of the higher supply of office space coming into the market and the global recession, Ayala Land said in a briefing yesterday.

THE Philippines’ biggest real-estate developer announced Wednesday that cancellations increased last year amid the global financial crunch.

Building Blocks MANILA, Philippines – EVEN if it’s not going to turn very positive, the country’s developers are nevertheless thankful that home building has never been negative for the Philippine economy.

MANILA, Philippines—Going green is not a luxury but a necessity, a member of the Philippine construction industry said during a construction expo here.

PROPERTY developers are likely to post lower profit margins in the near term as they continue to feel the brunt of higher costs absorbed last year, according to Colliers International Research.

THE rent in buildings devoted to business process outsourcing will drop by 15 to 20 percent this year because of too much space for lease and the economic crisis, an analyst said yesterday.

MANILA, Philippines – A glut of office supply is forcing landlords to compete for limited tenants by lowering rent, according to a leading global property services company.

Dear PAO, Good day. I am a Canadian and I read with great interest your answer that was published on January 12, 2009 in The Manila Times about dual citizenship and buying property in the Philippines.

A GLUT of office space has hit the Philippines property sector as cash-hungry foreign companies cut back on their export of back-office operations, an international property consultant said Thursday.

THE global credit crisis triggered in the US has cut demand for office space in the Philippines, according to the local unit of CB Richard Ellis Group Inc., the world’s biggest commercial property broker.

MANILA, Philippines — A glut of office space has hit the Philippines property sector as cash-hungry foreign companies cut back on their export of back-office operations, an international property consultant said Thursday.

The global financial crisis continues to agitate the major economies of the world. It began with the US which has been experiencing a recession since December 2007. The ripple effect of this financial catastrophe has affected the economic growth of emerging economies such as the Philippines. From an outstanding GDP growth of 7.3 percent in…