Malaysian-backed real estate firm bullish on RP

Malaysian-backed real estate firm Mancon-CBDC (Constant Builders and Development Corp.) said it believes a part of the local market is still actively looking at excellent property buys despite the apparent sluggishness in the Philippine economy.

Leading developer Mario A. Oreta, Mancon-CBDC president, said there are strong indicators that the upper B to A and the C markets "will continue to invest in properties that will appreciate in value in the medium-to long-term."

"Financial investments at this time may not be yielding attractive return," Oreta pointed out. "That is why people are looking at more productive uses for their financial resources and real estate remains a preferred option," he observed.

"In the Philippines, the value of real estate may plateau for a certain period, but it never really dives and it eventually takes an upturn," Oreta explained. "This makes real estate some kind of an inflation-proof investment option," he added.

Oreta said the upper echelon market is looking for good buys in locations that are near facilities that immediately add value to the property.

"Many are considering parking investible funds at these buys rather than on more volatile instruments," Oreta said. He added that the C market "will continue to want to buy homes of their own and will do so with government assistance."

Oreta said Mancon-CBDC is seriously looking at helping both market segments with their requirements.

"Both markets are also positioning for an inevitable economic rebound," said Oreta. "They know that if they buy now and the economy improves, the prices of their properties immediately go up," he explained.

Mancon-CBDC is backed by the Malaysian property development conglomerate Mancon-Berhad based in Kuala Lumpur.