Business strategic advisor: 10 more years of growth for real estate
REAL estate growth is expected to continue in the next 10 years as the Duterte administration rolls out more infrastructure projects that will benefit both public and private sector endeavors.
This was the view of strategic business adviser Ricardo “Ricky” De Vera during his talk on November 7 in time for the brand launching of Be Residences.
Be Residences is the residential development arm of Cebu-based Benedict Ventures Inc.
“Over the next 10 years, we will continue to see a development growth in the country. Not a boom, but a growth. All infrastructure development (projects) of this administration will benefit the next administration,” said De Vera, lead consultant and speaker at the ASEAN Center of Excellence.
De Vera is also a consultant of the Department of Tourism and Department of Trade and Industry.
De Vera appeased real estate brokers and agents in the audience who inquired about a looming housing bubble and the possibility of a “burst” much like what happened to the US 10 years ago.
De Vera, a former banker, said Philippine banks “would like to help no more than 20 percent of loan portfolio in real estate.”
He said the real estate loan portfolio is currently at 16 percent.
“You also have to remember that we used to be very close in terms of real estate. We are now opening up and I see that contributing to the momentum of continuous demand for real estate requirements,” he said.
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