Need to catch up with what’s happening in the Philippine real estate industry? Here’s a roundup of the top real estate news this week (Nov. 11-17, 2022)
- Holcim calls for better building in Philippines in Swiss Innovation Exhibit, Philconstruct Manila
Holcim Philippines, Inc., a building solutions provider, reiterated its call for the Philippines to adopt sooner the use of building materials and practices that are more beneficial to the environment. It said that this is the best way to preserve the country’s natural resources in the face of a continued economic growth that is spurring more construction activities. Philippine Daily Inquirer
- Global recession fears sink foreign investment pledges in Q3
Foreign investment pledges went down by 22.4% in the third quarter amidst fears of a global recession happening next year. Most of those investment commitments come from Japan, South Korea, and Singapore and total around P12 billion pesos. The manufacturing industry will receive the lion’s share at 7.2 billion while real estate activities get only P1.3 billion. Philippine Star
- Pag-IBIG members’ savings hit P67 billion in 10 months
The Home Development Mutual Fund or Pag-IBIG reported reaching a record member savings collection of P66.66 billion in just 10 months. Half of the amount came from the agency’s Modified Pag-IBIG 2 Savings (MP2). Housing Secretary Jose Rizalino Acuzar said this means Pag-IBIG will be able to finance more of its home loans program with low interest rates. Philippine Star
- First Georgetown Ventures planning to open The Grid Co-Living in January
A new community-based complex will open its doors in January in Makati City. Called The Grid Co-Living, the 10-story building is a project of First Georgetown Ventures, Inc. and will have commercial spaces on the first two floors. The rest of the building will have residential units. Situated inside San Antonio Village, The Grid’s main target market are office workers, medical frontliners, and students in the Makati area. Businessworld
- BPI unveils housing loan program for low-income families
Two billion pesos in initial funds will be powering the Bank of the Philippine Island’s MyBahay housing loan program. BPI said MyBahay is a flexible housing loan program targeting individuals or households in the low-income bracket. Those who will avail of the loan can repay the full amount within a maximum of 30 years. This is 10 years longer than standard repayment terms. Real Estate News.PH
Featured Image: Real Estate News.PH