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UAE's Filipino expats feed building boom

The National
UAE's Filipino expats feed building boom - UAE - property developer - Filipino

Filipinos across the Emirates are being targeted by big developers at home bidding to build more than 150,000 new units over the next four years.

Ayala Land, the largest property developer in the Philippines, plans to open its first office in Dubai next month aimed at so called balikbayan, or returning Filipinos. Other property companies have hired teams of sales agents in the Emirates to sell off-plan condominiums in projects such as the 56-floor Trump Tower Manila.

Property developers are increasingly looking to the remittances of the Filipino diaspora in the Arabian Gulf to fund the construction of thousands of new apartments.


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