Here’s a rundown of how much the country’s largest property developers are spending in 2015 to finance their projects.
With a gross domestic product (GDP) growing on average 6.2 percent between 2010 and 2014, the Philippines has steadily emerged as one of the fastest growing economies in Southeast Asia. Expectedly, local real estate has been one of the large contributors to the country’s GDP growth average.
While the industry had been doing well in the past couple of years on its own, even more vigorous growth in the immediate future is anticipated within. Rapid urbanization coupled with the continued rise of the residential sector have been the key sources of growth for local real estate, and is one of the main reason for several developers’ leading the way for record capital expenditures (CAPEX) in 2015.