CLARK FREEPORT, Pampanga – Despite various national and international concerns, the Philippine economy is expected to keep growing due to positive factors like its youthful and English-speaking populace, according to the leader of a real estate advisory firm.
At a Manila Times event held at the Clark Marriott Hotel, Lobien Realty Group’s CEO, Sheila Lobien, stated during her speech that youthful business owners will play a crucial role in maintaining economic progress.
She portrayed the Philippines as being "solidly positioned on the global scene," anticipating an annual growth rate of around 6 percent over the coming three years — making it one of the quickest expanding economies within Southeast Asia.
"As the market expands past 5 percent growth, it creates huge opportunities," Lobien remarked, highlighting how quickly the nation has rebounded from the effects of the Covid-19 pandemic.
In particular, remittances from Overseas Filipino Workers reportedly hit a record-high of $38 billion, boosting the demand for housing in the real estate sector. Meanwhile, business process outsourcing companies are flourishing, providing attractive career opportunities within the country that previously necessitated working abroad.
As the office market in Metro Manila adapts to the shifts brought about by the pandemic—marked notably by high vacancy rates due to the closure of many Philippine offshore gambling outfits—Lobien mentioned that great opportunities can still be found in top areas.
"The current office occupancy stands at 20 percent, which is four times greater than the pre-pandemic vacancy levels. However, this presents a significant chance for tenants to either renegotiate their leases or move to more desirable locations," she noted.
Pampanga was cited as a prime model for a booming provincial investment hub. Thanks to its advantageous position, enhanced transportation networks, and expanding workforce, the province was noted for drawing significant projects in mixed-used complexes, shopping centers, hotels, and business process outsourcing sectors.
Lobien stated, “In terms of available office spaces outside Metro Manila, Pampanga currently ranks as the third largest.” He added, “The region’s closeness to the main city—just a two-hour drive—is a significant advantage. If you’re traveling from the southern part, reaching Clark is more convenient compared to going all the way to Quezon City.”
Clark and San Fernando stood out as emerging hubs for digital innovation and outsourcing. As Lobien pointed out, "San Fernando has been named a digital city. Businesses are considering expanding into areas such as these, where rents can be approximately half of those in Metro Manila."
Lobien likewise highlighted that when investing in real estate, location should not be solely the main factor to take into account.
She recommended investing during the recovery stage because prices are comparatively lower with significant upward potential. Choose an asset you’d be content holding even if the markets were closed for a decade.