MAKATI CITY – The leading real estate service provider in the Philippines which is a subsidiary of the world’s largest commercial real estate firm based in the US is bullish on the future of Clark saying it will be the next top investment and BPO destination in the country.
Rick Santos, chairman and founder of CBRE Philippines which is also the country’s leading real estate services and advisory fi rm, said “Clark has a great potential and could be the next Fort Bonifacio for BPOs.”
“Clark is more than just a part of Philippine history. Region 3 is a major contributor to the country’s GDP at 9.2 percent with a catchment basin of 23 million people,” said Santos during the CBRE presentation entitled, “From Bases To BPOs: The Rise of Clark as the Next Top Investment and BPO Destination” at the Shangri-La Hotel here yesterday.
The Clark International Airport (CIA) and its accessibility to other modes of transportation and road networks like the NLEx and the SCTEx also make it ideal for investors to locate in the area, he added.
Santos said “investor confi dence in the Philippines continues to be strong, reinforced by recent events held in the country” like the recent State Visit of President Obama, the World Economic Forum and the credit rating upgrade to BBB by Standard & Poor.
“Political instability in other countries like Thailand draws more investors to consider expanding and operating on Philippine soil,” he said. “Investors from China, Hong Kong, Japan, Singapore, Korea, US and Europe are anticipated to expand in emerging markets with the Philippines as one of the top destinations.”
But Santos declined to comment on the lack of national policy direction regarding the full and immediate development of the Clark International Airport which is being moved by stakeholders in Northern and Central Luzon provinces.
“Our work is with the private sector,” said Santos. “But I think the overall growth of the real estate sector is going to continue. I think Clark has a great potential. I think the demographics are there in terms of people, in terms of infrastructure and demand even if there is no national policy direction,” he said.
“I think people are looking at the Philippines now as a stable place to put their businesses,” he added. CBRE Philippines is an affiliate of CBRE Group, Inc. a Fortune 500 and S&P 500 company with headquarters in Los Angeles, USA.
CBRE is the world’s largest and recognized commercial real estate services firm with over 300 offices and 37,000 employees (excluding affi liates) across the globe.
Santos is the chairman, founder, and managing partner of CBRE Philippines. Santos set up the CBRE operation in the Philippines—playing a major role in establishing the company as the leading real estate advisory firm in the country.
CBRE was ranked 387 in the Fortune 500 – Wikipedia, the free encyclopedia in 2013 and was the highest-ranked company in the real estate sector
