“The Pearl of the Orient Seas”, “The Darling of Asia”: The Philippines is a Southeast Asian country in the Western Pacific, comprising of 7,107 islands.
Its islands are classified into three main geographical areas – Luzon, Visayas, and Mindanao. Because of its archipelagic nature, Philippines is a culturally diverse country. With its topography consisting of mountainous terrains, dense forests, plains, and coastal areas, the Philippines is rich in biodiversity. It is considered as one of the mega biodiversity countries in the world with a high percentage of flora and fauna endemism.
Roughly 80% of the population is Catholic, making the Philippines the country with the third most Catholics in the world after Brazil and Mexico;
while some portions of the southern island of Mindanao are majority Muslim.
Various reputable news portal and banks have published forecasts on Philippine economy. “The Philippines will remain as one of the fastest-growing countries in the East Asia and the Pacific region this year until 2020“, the World Bank said in its latest report.
In its “June Global Economics Prospect” (GEP) report, the World Bank upgraded its forecast on economic growth of the Philippines in 2020 to 6.6 percent, from January’s 6.5 percent.
To know more, here are the links.
The Philippines is ranked first in a U.S. report's list of the "Best Countries to Invest In" for 2018.
The U.S. News and World Report mentioned that the Philippines has been performing well in terms of foreign direct investment (FDI); based on the report by the World Bank Group.
With its strong macroeconomic fundamentals, in addition to the plans to ramp up infrastructure spending, it has propelled the Philippines to the top of a list of “best countries” to invest in.
To know more here is the link.
President Rodrigo Duterte's administration and his economic team unveiled details of an ambitious plan to “Build, build, build” projects worth trillions of pesos until 2022 which seeks to accelerate infrastructure spending & develop industries that will yield robust growth, create jobs and improve the lives of Filipinos.
The current Secretary of Budget and Management of the Philippines,
Mr. Benjamin Diokno, is positive that the gross domestic product (GDP) of the country will grow around 7 percent for the next decade as sustained by the "Build, Build, Build" program.
Extending the PNR North 1, this 69.5km mass transportation railway of PNR North 2 will connect NCR and Clark International Airport in Pampanga. Enabling a one-way travel time of 56 minutes from Manila to CIA, it will be seamlessly integrating PNR North and South Commuter.
This benefits Ayala's development in Alviera, Pampanga which is located 10-minutes away from Clark International Airport.
The 13-station subway system, which will run from Mindanao Avenue in the north all the way to the Ninoy Aquino International Airport, is expected to be partially operational by 2020 (three stations) and fully operational by 2025.
This entire system is projected to have up to 1.74 million passengers daily and will help ease commute from Quezon City up to NAIA airport.
Several Ayala developments are near the stations namely, Vertis North, Portico in Pasig Ortigas, and Arca South (FTI/ Food terminal) in Taguig.
With a size of 13,700 sqm , the MRT-LRT common station will have 3 essential components to accommodate passengers from LRT Line 1, MRT Line 3 and MRT Line 7 in tis platforms.
One of Ayala's projects - Vertis North - is just a few meters away from this common station, Trinoma Mall, and future Solaire.
Vertis North offers residential condominium at the quiet side of Quezion City.
Twelve new bridges were proposed to futher ease traffic congestion in Metro Manila.
A new bridge crossing the Pasig River, Marikina River and the Manggahan floodway will healp ease congestion.
The construction of Binondo-Intramuros link is about to start while the construction of BGC-Ortigas Center link is in progress.
Estrella-Pantaleon bridge was closed to give way to construction work and is target to be accessible by 2020.
Based on National Economic and Development Authority (NEDA), the Philippines is expected to remain one of the fastest-growing economies in Asia.
Click on the image for the tweet.
A joint statement was published by economic team on the Philippine economy for Q4 and full-year 2018 which indicates positive outlook on the country.
Philippine economic growth remained stable as it grew 6.1 percent in the fourth quarter of 2018; thus showing steady performance for seven consecutive years that it sustained its growth of more than 6.0 percent. It brings the country’s 2018 full-year growth to 6.2 percent.
This is a firm indication on the Philippines’ standing as one of the fastest-growing economies in Asia.
Image from NEDA's tweet. To read the full update, click on link below.
Foreign investors continue to trust and invest in the Philippines. The inflow of foreign direct investments (FDI) is forecasted to top $10 billion anew in 2018 and 2019 as investors continue to view the Philippines as a much favorable investment destination, according to the Bangko Sentral ng Pilipinas (BSP).
Snippet from news posted from PhilStar, see link below.
Source: Banko Sentral ng Pilipinas.
It's 7,107 times more fun in the Philippines. Watch the official Philippine Department of Tourism AVP to find out why :)
For real estate investment in the Philippines, please contact us and set an appointment. Credits to PH DOT for the AVP.