Saturday, 17 April 2010

Noli cites RP’s big potential

Roy Mabasa
Manila Bulletin

There is money in retirees who are looking for places where they can stay.

This was stated by Vice President Manuel “Noli” De Castro as he expressly pointed out that there is a big potential in the country especially if we can have retirees of other nations to choose the Philippines as their place of retirement.

De Castro, speaking before delegates to the Real Estate Festival 2010, said that there is an urgent need for the real estate sector to push harder in promoting the real estate and tourism in the country as he cited a global trend that can help sustain the growth of these two sunrise industries.

“A boom in tourism will bring a lot of opportunities for the real estate industry and that is why we have to be prepared,” De Castro noted.

De Casto pointed out that the Philippines has plenty of beautiful places that only need to be supported with the proper facilities such as hotels, serviced apartments, well-developed and well-planned leisure estates, health and wellness enclaves, entertainment hubs and many others.

However, De Castro admitted that while the government has successfully supported the housing sector through the Home Development Mutual Fund (HDMF) or Pag-IBIG Fund, fund for shelter remains insufficient. (Roy Mabasa)

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