The need for more student accommodation in the Philippines presents an opportunity for Qataris and other expatriates to diversify their investments in the country’s growing real estate market, a business expert has said.
Philippine Business Council Qatar (PBC-Q) chairman Greg Loayon said Qatari investors, including other expatriates, are inclined to purchase beach or island properties in some of the Philippines’ tourist destinations. Other investments, he said, include residential and commercial condominium developments.
But the burgeoning student population of top universities in the Philippine capital of Manila, according to Loayon, “is also another market Qataris and other expatriate investors can tap into.”
“Student accommodation is what I would actually offer. In terms of rentability, it is easy to find a tenant because demand in this area is very high, particularly for Filipino parents who are working abroad,” Loayon told Gulf Times yesterday.
“When parents send their children back to the Philippines to study in university, they will either buy a property for them or look for student accommodations that are close to the schools, and this is where a lot of foreign owners can benefit from.
“People are already doing that in Asia and we’ve seen that happen with a lot of investors from Singapore, Hong Kong, and China but the Middle East is slowly waking up to owning properties in the Philippines,” Loayon explained.
Aside from Filipinos, Loayon said there is a significant population of foreign students taking up medical and similar other courses in top Philippine universities such as Ateneo de Manila University, University of the Philippines, and De La Salle University.