Property News · August 2, 2016

New Philippine president to bring positive changes to real estate


Rodrigo Duterte’s brand of change is coming?
Image: Lean Daval Jr/Lean Daval Jr/Reuters
The recent election of Rodrigo Duterte as the Philippines’ president will bring positive changes, especially in view of his countryside development plans, infrastructure and agriculture focus, increased government spending and anti-crime priority, according to a recent analyst report published by Macquarie Research.
These goals are expected to have a positive impact on different sectors of the market over the longer term, including property, which was named the most preferred portfolio in the report.
“Countryside development should help the property sector, in addition to specific issues such as REITs reinstatement (helping recycle capital as another funding alternative), beneficiary of infrastructure enhancements, as well as on tax reform,” said Macquarie analyst Gilbert Lopez, the report’s author.
More: 5 things that Rody Duterte could do for Philippine real estate
As a result, the country’s top property developers are expected to benefit under Duterte’s term. Macquarie’s top picks include Ayala Land, Robinsons Land and Megaworld Corporation, which won the 2016 Best Developer award at the fourth annual Philippines Property Awards.
The report stated that Ayala Land stands to gain the most from the government’s countryside development plans as it has a land bank of over 9,000 ha, the largest in the country.
Megaworld also has a nationwide land bank and property portfolio, while Robinsons Land is the most geared for REITs as it has the largest mix of investment properties, added the report.
This story originally appeared on PropertyGuru.sg on 30 July 2016.

Source : property-report.com
Read more…New Philippine president to bring positive changes to real estate

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