by: Sarah Joson
Monday, May 25, 2015 |
Jones Lang Lasalle (JLL) recently announced that Metro Manila, Philippines made it to the list of Top 30 Real Estate Investment Cities in the world.
During the Asia Real Estate Summit 2015 in Makati City, Jeremy Kelly, Director of JLL Global Research, said the bullish growth of the country’s economy has aided in making the country’s capital as one of the attractive destinations for commercial real estate.
The executive also cited the factors considered in their Global City Commercial Attraction Index for real estate development - economic output, population, corporate presence, connectivity, real-estate stocks, and investment.
Kelly pointed out that they rank a city’s success based on its sustainable growth momentum, adaptability, and ability to innovate - and Manila has these qualities. He also said the Philippines’ vast capabilities in the business process outsourcing (BPO) sector are a key factor to make it a competitive hub. Manila got the second spot in both AT Kearney Emerging Cities Outlook 2014 and Tholons Top Outsourcing Destinations in 2015.
JLL also anticipates that Manila will be top 18 globally in terms of city gross domestic product (GDP) by 2030, and will post one of the highest economic momentums worldwide, together with Istanbul and Jakarta.
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