[PHNOM PENH POST]
PHILIPPINES-based developers Megaworld International will expand
operations within Cambodia in order to attract the Kingdom’s growing
middle-class Filipino community to invest their money in the Manila
property market.
Following on from an exhibition held in Phnom
Penh last year, the real estate company’s official Cambodian launch took
place yesterday.
Megaworld’s target audience is primarily the country’s middle-class Filipino community.
However, Sales Manager Raeyan C Basa expects additional customers from Cambodian nationals and foreigners based in the Kingdom.
“Currently
the Filipino property sector is seeing positive growth amid the slight
boom being experienced. This could entice Filipinos to invest in
property back home.”
He added that approximately 3,000 Philippine
nationals are registered as residents in Cambodia, but expected the
genuine figure to be closer to 5,000.
A number of the expatriates
who attended the official launch said they already owned property in
The Philippines, but would consider further investment if a suitable
property was available.
“This is a timely event as more
Filipinos are earning good money and housing [in Manila] is now
cheaper,” said Phnom Penh resident of 16 years and Chuan Wei Human
Resource and Administration Manager Chi S. Reimer.
“Usually, people organise investments through family, but this is certainly a more efficient and reliable way,” he added.
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