YEARENDER: 12 big business stories in 2012

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Lala Rimando & Katherine Visconti

www.Rappler.com

2 January 2013

http://www.rappler.com/business/18776-yearender-12-big-business-news-in-2012

MANILA, Philippines – The year 2012 was full of surprises, good news, tension, frustrations and more.

Below is a list of 12 of the biggest business, industry and economics stories Rappler’s business team covered in 2012. It reflects the new policies, partnerships and factors beyond Filipinos’ control that shaped 2012 and will be felt after the year is over.

Read full article here

10. Real estate boom (Article Extract)

Image courtesy of Franz LopezImage courtesy of Franz Lopez

The local real estate market boomed anew in 2012, raising concerns about similarities to pre-1997 real-estate-led financial crisis. Experts and economists allayed the fears of worried Filipinos and foreigners, stressing the boom has two fundamental legs to depend on.

One: the remittances sent by Filipinos abroad that stayed resilient despite slowing global economy. With most buying homes for their retirement needs, real estate consultant CBRE Philippines noted that overseas Filipinos’ home purchases increased 61% this 2012. The growth in sector is obvious in the and even international players like Paris Hilton, Donald Trump and high-fashion house Versace are getting in on the action.

Two: the continuing growth of Business Process Outsourcing (BPO) business, which requires vast office spaces. With a doubling of revenues to $25 billion by 2016, Philippine skylines are fast developing to meet demand.

Three: Record low interest rates helped make financing a home purchase and office lease more affordable.

Retail and Office Space

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    • Now available for purchase “As-is”, a semi-fitted retail and office space with an area of 381.79 square meters in Valenzuela, along MH del Pilar St. The lot area is 523 sqm. The building is ideal for a single occupier, traditional retail branches. The property is only a few minutes away from N. Luzon Expy (6 km) and EDSA (6.5 km).

FOR MORE DETAILS, PLEASE CONTACT

    • Ian Perez
      0917.862.9403
    • Kelli Austin
      0917.536.0267

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