Sustained Growth Momentum Seen for PH Real Estate Industry

Manila Bulletin, January 19, 2017 | Go to article overview

Sustained Growth Momentum Seen for PH Real Estate Industry


By Bernie Cahiles-Magkilat

Fueled by unrestrained demand, the Philippine real estate industry stands to continue its expansion in 2017 after a stellar performance in the previous year seen from across various sectors such as BPO, commercial, residential, industrial, and retail, according to a property management consultancy firm.

The newly forged partnership Santos Knight Frank, Inc., which offers full-service real estate consultancy in the country, forecasts 1.6 million square meters of additional offices spaces this year to support business expansion especially in the BPO sector.

"We're very optimistic about the growth of the real estate industry in the Philippines, which has been driven by favorable demographics, continuing foreign direct investment, BPO expansion, strong overseas remittances, and continued infrastructure development. The economic fundamentals that have positioned the country on a prime spot in global investments remain extremely strong. We believe that the government's socio-economic agenda and infrastructure program will further propel Gross Domestic Product (GDP) in the years to come," said Rick M. Santos, Chairman and CEO of Santos Knight Frank Inc.

Santos, a Philippine real estate veteran, e-branded his company as Santos Knight Frank, Inc. starting early this year with a new long-term franchise partnership with Knight Frank LLP. The partnership was formed following Santos' decision not to renew his existing franchise with CBRE. On Wednesday, Santos, along with Stephen Ellis, CEO of Knight Frank Australia and Kevin Coppel, Asia-Pacific Regional Head at Knight Frank, announced the official launch of the new brand. Santos remains as CEO and Chairman of the organization that brings an unmatched track record of 23 years as a pioneering full-service real estate consultancy in the Philippines with 11 stand-alone business lines, a team of 1,200 employees, and an enviable list of Philippine and international clients.

According to Santos, strong economic performance of the Philippines has shown no sign of slowing down. …

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