Touching base with OFWs CDC Holdings takes direct approach to marketing projects

MANILA, Philippines - As overseas Filipino workers (OFWs) continue to drive strong demand for residential housing, a prominent property developer has taken advantage of this by using a different approach in promoting their projects.

While most real estate developers rely on their agents to market their products to prospective buyers  -- mostly  family members of Filipinos working abroad or those in the young working class -- CDC Holdings Inc. has chosen to directly interact with OFWs.

Elsie Chua, CDC Holdings president and chief executive officer, said in an interview that she travels abroad every year just to meet with OFWs.

“I’ve been doing it since 1994. I like interacting with people instead of just waiting in the office. I want to get to know them (OFWs) better,” she said.

She said last April, she spent two-and-half weeks in the Middle East, where a huge number of OFWs are deployed. Among her stops included Saudi Arabia, United Arab Emirates and Qatar.

After visiting OFWs in the Middle East, she went to Japan and proceeded to countries in Europe such as Switzerland, France, Italy, Germany and the United Kingdom, to touch base with Filipino workers there.

During her trips abroad, her company would organize different activities such as picnics, barbecue parties, family day, bingo day and jogging to gather the OFWs.

In the same event, the OFWs are given updates on recent developments in the Philippines and informed of investment opportunities available for them.

The different projects being developed by CDC Holdings, which are among the investment options available for the OFWs, are likewise discussed in the event.

Among the projects being developed by the firm are the 25-story commercial and residential condominium Sentrale located in Makati City, the Citadines Millennium Ortigas residence project in Ortigas,
River Green Residences in Sta.Ana, Manila and the Lions Park Residences in Paranaque City.

Chua said by organizing activities for OFWs, she is able to determine what the market wants and meet their expectations, which in turn makes selling products easier.

When it comes to purchasing residential property, she said the preferences of OFWs are varied, with some interested in real estate near malls, schools and the central business district, and some opting for those located in the countryside.

In the first semester this year, CDC Holdings doubled its sales to P800 million from P400 million a year ago. Of the total sales, about 30 percent came from purchases made by OFWs.

Apart from getting a better understanding of the market, Chua also said her trips overseas has allowed OFWs to better understand the different investment options available for them.

“They are cautious when it comes to making an investment,” she said, adding that it is expected as OFWs want to make sure their hard-earned
money is going somewhere they could get good returns.