Dh100m sales at Pinoy Property Show

Pinoy Property Show concluded Dh100 million worth of sale from the three-day exhibition with over 3,000 visitors attending the expo.

The success of the event, which was held at Dusit Thani Hotel in Dubai, saw participation of many property developers at the second series of the show to be held in KSA this coming October 2013.  

The exhibition witnessed the presence of Frank R. Cimafranca, Consul General of the Republic of the Philippines in Dubai, who praised the initiative.

He said: “The show translates the great demand of real estate in Philippines which is currently experiencing the best market for real estate and it is perceived to sustain its growth in terms of office, residential, and leisure sectors.  A significant percentage of the overseas remittances escalated the remarkable sales of residential condominium market last year.  With the migrant workers’ buying potential, OFWs fuel the market boom”.

Tamer El Sherbini, Managing Director of Alpha Conferences- the organizers of the show, said:  “We are glad with the success achieved. We also launched first Filipino discount card for Filipino overseas during the exhibition with Creative Travel & Tour and Resorts World Manila, the biggest entertainment resort in the Philippines.”

The exhibition represented an ideal platform for Filipinos interested in various investment opportunities in owning their own houses spread in different cities in Philippines including Cavite, Tagaytay, Cebu, Patangas, Pampanga, Metro Manila, Antipolo and Tarlac.  

Analysts say that currently the construction sector in the Philippines contributes roughly about 8 to 9 percent of the GDP, while real estate services are at 11 percent.  This reflects investment opportunities on the property industry to foreign investors.

“We foresee success in our first venture with the Filipino expatriate community and envision Pinoy Property Show to be an annual event in Dubai.  A second sequence will be held in Kingdom of Saudi Arabia sometime in October this year.  Filipinos form 4.3 per cent of the overall population in the UAE alone and there is about 1.5 million in Saudi Arabia, which make up the fourth largest group of foreigners in the country.  The launch of the Pinoy Property Show will cater to a big population in the Middle East,” El Sherbini added.

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