Philippine real estate 'primed' for further growth, says developer

ABS-CBN News

Posted at Mar 22 2019 02:16 PM | Updated as of Mar 22 2019 02:22 PM

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MANILA – The real estate sector is “primed” for growth as the growing economy enables more Filipinos to purchase homes, a property developer said Friday. 

"Today you will find that people of the Philippines have the economic means to buy their own homes. They’re now more able to become owners rather than renters," said SOCResources Inc chairman Edgardo Reyes on the 25th anniversary of the company's listing on the local bourse.

"The opportunity is the unmet demand is quite substantial and I think there’s no argument about it. I think we’re primed for that with the Philippine economy growing at its current phase," he said. 

SOCResources has a mix of mid-rise and high-rise projects in Luzon and a P500 billion initial investment in an agro-industrial project in Palawan, Reyes said.