Philippine's real estate growing fast
Wednesday, 14 November 2007
Oxford Business Group (OBG), the prestigious UK-based publishing research and consultancy services organisation recently released The Market: Real Estate 2007, its ground-breaking new guide for real estate investment in 23 emerging markets at Cityscape Dubai 2007, the largest business-to-business real estate investment and development event in the world.
In its report, OBG shows, within the appraisal of the 23 countries, India's continued strong growth is recognized with a top ranking in three out of four sections. The Philippines is unexpectedly given a top ranking for development potential, with the real estate development its fastest growing sector, fuelled partly by demand from Filipino expatriates.
Morocco's hospitality sector is being boosted by a government plan to attract ten million tourists to the country by 2010. The commercial sector in Egypt is being boosted by healthy GDP growth and strong foreign investment, prompting an influx of foreign capital and international operators.
With Pakistan's disposable incomes rising and international brands cautiously entering the market, domestic demand is driving retail expansion. More familiar markets are appraised, including Dubai, whose rising prominence as a financial services and commercial centre has been stimulating demand,
Abu Dhabi, where a population boom has resulted in a shortage in the residential sector, and Oman, where the industrial zones in Sohar and Salalah have raised demand for offices, hotels and houses.
OBG's unique experience in the field in many of these locations enables them to predict future growth and demand with confidence, even in entirely undeveloped markets. The Market: Real Estate 2007 confirms their unique insight into some of the least understood yet most dynamic global markets, and is certain to provoke a high level of interest at Cityscape.
The product of a commission from the new Cityscape Market Intelligence service, which provides accurate facts and analysis about the real estate industry in emerging markets, the rankings provide an authoritative look at development opportunity in residential, commercial, hospitality and retail development in emerging markets in Asia, the Middle East and Africa.
Based on nine months of research and nearly 9,500 interviews in the field, the OBG report features the twelve markets holding the highest appeal for development of the residential, commercial, hospitality and retail sectors. As such, the report fits with the scope and breadth of Cityscape Market Intelligence, which uses information from more than 2,500 sources worldwide.
Calculated on a complex model developed over the past year by OBG economists, the OBG/ CMIS rankings assess factors, including economic background, income, the sizes of the groups able to afford residential property costing more than $100,000, financial instruments contributing to affordability, supply and demand, company registrations, bank lending on construction, legislative environment, foreign investment rules, and capacity within the construction sector.
OBG has ranked the residential, commercial, retail and hospitality markets for their appeal to developers, considering supply and demand, potential returns and the investment climate.
The Market: Real Estate 2007 covers Abu Dhabi, Algeria, Bahrain, Dubai, Egypt, India, Iran, Indonesia, Jordan, Kuwait, Libya, Morocco, Northern Emirates, Oman, Pakistan, Philippines, Qatar, Saudi Arabia, Sri Lanka, Syria, Tunisia, Turkey and Yemen.
.................
Al Bawaba
(www.albawaba.com)
In its report, OBG shows, within the appraisal of the 23 countries, India's continued strong growth is recognized with a top ranking in three out of four sections. The Philippines is unexpectedly given a top ranking for development potential, with the real estate development its fastest growing sector, fuelled partly by demand from Filipino expatriates.
Morocco's hospitality sector is being boosted by a government plan to attract ten million tourists to the country by 2010. The commercial sector in Egypt is being boosted by healthy GDP growth and strong foreign investment, prompting an influx of foreign capital and international operators.
With Pakistan's disposable incomes rising and international brands cautiously entering the market, domestic demand is driving retail expansion. More familiar markets are appraised, including Dubai, whose rising prominence as a financial services and commercial centre has been stimulating demand,
Abu Dhabi, where a population boom has resulted in a shortage in the residential sector, and Oman, where the industrial zones in Sohar and Salalah have raised demand for offices, hotels and houses.
OBG's unique experience in the field in many of these locations enables them to predict future growth and demand with confidence, even in entirely undeveloped markets. The Market: Real Estate 2007 confirms their unique insight into some of the least understood yet most dynamic global markets, and is certain to provoke a high level of interest at Cityscape.
The product of a commission from the new Cityscape Market Intelligence service, which provides accurate facts and analysis about the real estate industry in emerging markets, the rankings provide an authoritative look at development opportunity in residential, commercial, hospitality and retail development in emerging markets in Asia, the Middle East and Africa.
Based on nine months of research and nearly 9,500 interviews in the field, the OBG report features the twelve markets holding the highest appeal for development of the residential, commercial, hospitality and retail sectors. As such, the report fits with the scope and breadth of Cityscape Market Intelligence, which uses information from more than 2,500 sources worldwide.
Calculated on a complex model developed over the past year by OBG economists, the OBG/ CMIS rankings assess factors, including economic background, income, the sizes of the groups able to afford residential property costing more than $100,000, financial instruments contributing to affordability, supply and demand, company registrations, bank lending on construction, legislative environment, foreign investment rules, and capacity within the construction sector.
OBG has ranked the residential, commercial, retail and hospitality markets for their appeal to developers, considering supply and demand, potential returns and the investment climate.
The Market: Real Estate 2007 covers Abu Dhabi, Algeria, Bahrain, Dubai, Egypt, India, Iran, Indonesia, Jordan, Kuwait, Libya, Morocco, Northern Emirates, Oman, Pakistan, Philippines, Qatar, Saudi Arabia, Sri Lanka, Syria, Tunisia, Turkey and Yemen.
.................
Al Bawaba
(www.albawaba.com)