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Business
NCR to edge Tokyo in investment prospecting

Metro Manila rose to rank 12 in the top investment prospect rankings, one grade behind Hong Kong and an edge over Tokyo, according to the Urban Land Institute’s (ULI) report “Emerging Trends in Real Estate Asia Pacific.”

In the report, it was mentioned that from rank 20 in 2011 and rank 18 this year, Metro Manila is poised to claim no. 12 next year as one of the top investment prospects for businessmen.

“Sentiment reflects a shift to alternate markets as concern rises over high prices in core markets,” the report said.

Also, Colin Galloway, who presented the report, said that Manila is rising among real estate investors and developers, reflecting a shift to alternate markets in Asia as concern rises over high property prices in China’s core markets.

Of the 22 markets included in the report, Manila is ranked no. 11 for investment prospects and ninth for development prospects, which represents a rapid rise from near the bottom of the rankings in previous years’ polls.

“Manila has performed well in the past couple of years as a result of the growing economy, a transparent and business-friendly government, and the country’s ongoing success in attracting foreign corporate clients to its business process outsourcing facilities, which account for approximately 70 percent of new office occupancies in Manila,” Galloway said.

The report added that while steady economic growth, rising incomes, and stable or increasing property values are all contributing to positive real estate investor sentiment across Asia Pacific, Emerging Trends notes that this outlook is tempered by concerns that prime assets in key markets are becoming overpriced.

“With high rents, high capital values, low yields, and an abundance of local capital, many international investors are struggling to see attractive investment opportunities in Asia Pacific’s prime real estate markets,” said ULI trustee and North Asia vice chairman Richard Price.

“As a result, investors are expanding their horizons as they seek compelling investment opportunities. Some are looking at frontier markets such as Indonesia, while others are revisiting often overlooked capitals such as Kuala Lumpur and Bangkok, which explains the strong showing for these locations in this year’s report,” he added.

ULI is a global non-profit education and research institute supported by its members. Established in 1936, the institute has nearly 30,000 members representing all aspects of land use and development disciplines.

Refer http://www.manilatimes.net/index.php/business/top-business-news/36908-ncr-to-edge-tokyo-in-investment-prospecting

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