OFWs driving property demand in Visayas, Mindanao

ABS-CBN News

Posted at May 17 2017 10:25 AM

MANILA – Overseas Filipinos account for 60 percent of property demand in the Visayas and Mindanao, Cebu Landmasters chairman Jose Soberano III said Wednesday.

Eighty percent of demand in the high-growth regions are for residential spaces, Soberano said, ahead of Cebu Landmasters’ listing in the stock exchange.

Cebu Landmasters hopes to raise P2.9 billion from the sale of 505 million shares with an overallotment option of 75 million shares. The offer period was set on May 19 to 26.

Soberano said he was hopeful President Rodrigo Duterte’s plan to build P8 trillion in new infrastructure would help boost the property sector.