Favourable demographics, a solid macroeconomic outlook and a confluence of demand drivers are inspiring bullishness in all property segments in the Philippines. Motivated by some of the region’s most competitive rental rates and an attractive workforce, business process outsourcing (BPO) firms are taking office space in sought-after commercial...
As property markets in South-east Asia absorbed major hits following the last time they experienced rapid growth in the late 1990s, questions inevitably arise over the degree to which the Philippines’ ongoing surge in property value and activity is being driven by solid fundamentals rather than opportunism.
The construction and real estate sectors make up around 20% of the Philippine economy, slightly ahead of manufacturing, and as of the first quarter of 2014 accounted for 7% of national employment. Over the past few years, construction in the Philippines has been flourishing amid a climate of political stability and upbeat business sentiment,...
One of the most pressing issues in the Philippines’ construction sector is a chronic housing shortage. Figures from the Subdivision and Housing Developers Association (SHDA) put the current national housing backlog at 4m. Based on a study by the University of Asia and the Pacific (UA&P), that could rise to 6.5m by 2030 if the situation is...
Slowly but surely, the adoption of green building practices in the Philippines in office, residential and public sector construction projects is gathering momentum. Adhering to corporate social responsibility commitments on climate change reduction, multinationals have been the first movers in terms of demand for more environmentally friendly...
The engineering, procurement and construction (EPC) segment in Abu Dhabi is dominated by oil and gas. The largest EPC project currently under way in the emirate is the development of the offshore Upper Zakum oilfield, which was awarded to Petrofac Emirates – a joint venture between Petrofac and Abu Dhabi government investment firm Mubadala Development Company – and its...
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