MANILA, Philippines – Manila is among the most coveted cities for emerging market investors, according to real estate website Lamudi.
In its list of most sought-after emerging market cities for investors, Lamudi ranked Manila second to Jakarta, Indonesia.
Lamudi said more investors have turned their attention to the Philippines’ capital as the country’s economy gains speed, citing the young demographic and a workforce culture comparable to the west.
“Manila is considered favorable to investors because it has a young demographic, as well as a similar workforce culture to the west,” the website said.
“Its residential, retail and office sectors all present strong investment prospects,” it added.
Lamudi also cited a report saying that issues of governance and transparency in Manila have improved.
Manila is also “increasingly attracting multinational companies for outsourced services,” according to the site.
Lamudi also highlighted the growth of the real estate industry in Southeast Asia, particularly cities in the Philippines and Indonesia, which have strong prospects, thus “cementing Southeast Asia’s place as one of the world’s emerging property hotspots.”
“Investors searching for new opportunities in emerging markets should look to one of these cities. Countries right across the regions where Lamudi operates are experiencing a boom in real estate, fuelled by a growing middle class and strong economic performance,” said Lamudi co-founder and managing director Kian Moini.
Apart from Manila and Jakarta, also making the list are Mexico City, Mexico; Marrakech, Morocco; and Dhaka, Bangladesh.
Lamudi, which operates exclusively in 22 countries in Asia, Africa, Latin America and the Middle East, has picked the top investment opportunities in these regions based on market trends for the past six months.