May 28, 2018, 3:50 am
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1 Philippine Peso = 0.06987 UAE Dirham
1 Philippine Peso = 2.04394 Albanian Lek
1 Philippine Peso = 0.03405 Neth Antilles Guilder
1 Philippine Peso = 0.46707 Argentine Peso
1 Philippine Peso = 0.02507 Australian Dollar
1 Philippine Peso = 0.03386 Aruba Florin
1 Philippine Peso = 0.03804 Barbados Dollar
1 Philippine Peso = 1.58684 Bangladesh Taka
1 Philippine Peso = 0.03178 Bulgarian Lev
1 Philippine Peso = 0.00718 Bahraini Dinar
1 Philippine Peso = 33.30759 Burundi Franc
1 Philippine Peso = 0.01902 Bermuda Dollar
1 Philippine Peso = 0.02521 Brunei Dollar
1 Philippine Peso = 0.13049 Bolivian Boliviano
1 Philippine Peso = 0.06941 Brazilian Real
1 Philippine Peso = 0.01902 Bahamian Dollar
1 Philippine Peso = 1.2997 Bhutan Ngultrum
1 Philippine Peso = 0.18862 Botswana Pula
1 Philippine Peso = 380.82557 Belarus Ruble
1 Philippine Peso = 0.038 Belize Dollar
1 Philippine Peso = 0.02456 Canadian Dollar
1 Philippine Peso = 0.01888 Swiss Franc
1 Philippine Peso = 11.92087 Chilean Peso
1 Philippine Peso = 0.1215 Chinese Yuan
1 Philippine Peso = 54.23245 Colombian Peso
1 Philippine Peso = 10.69241 Costa Rica Colon
1 Philippine Peso = 0.01902 Cuban Peso
1 Philippine Peso = 1.79018 Cape Verde Escudo
1 Philippine Peso = 0.41871 Czech Koruna
1 Philippine Peso = 3.37645 Djibouti Franc
1 Philippine Peso = 0.12092 Danish Krone
1 Philippine Peso = 0.9416 Dominican Peso
1 Philippine Peso = 2.20987 Algerian Dinar
1 Philippine Peso = 0.25394 Estonian Kroon
1 Philippine Peso = 0.33993 Egyptian Pound
1 Philippine Peso = 0.51779 Ethiopian Birr
1 Philippine Peso = 0.01623 Euro
1 Philippine Peso = 0.03907 Fiji Dollar
1 Philippine Peso = 0.01422 Falkland Islands Pound
1 Philippine Peso = 0.01425 British Pound
1 Philippine Peso = 0.08823 Ghanaian Cedi
1 Philippine Peso = 0.89024 Gambian Dalasi
1 Philippine Peso = 171.23835 Guinea Franc
1 Philippine Peso = 0.13955 Guatemala Quetzal
1 Philippine Peso = 3.93875 Guyana Dollar
1 Philippine Peso = 0.14924 Hong Kong Dollar
1 Philippine Peso = 0.45305 Honduras Lempira
1 Philippine Peso = 0.11993 Croatian Kuna
1 Philippine Peso = 1.23264 Haiti Gourde
1 Philippine Peso = 5.18261 Hungarian Forint
1 Philippine Peso = 268.49914 Indonesian Rupiah
1 Philippine Peso = 0.06761 Israeli Shekel
1 Philippine Peso = 1.28921 Indian Rupee
1 Philippine Peso = 22.52235 Iraqi Dinar
1 Philippine Peso = 800.64676 Iran Rial
1 Philippine Peso = 2.00476 Iceland Krona
1 Philippine Peso = 2.38368 Jamaican Dollar
1 Philippine Peso = 0.01348 Jordanian Dinar
1 Philippine Peso = 2.08195 Japanese Yen
1 Philippine Peso = 1.91839 Kenyan Shilling
1 Philippine Peso = 1.2975 Kyrgyzstan Som
1 Philippine Peso = 77.23036 Cambodia Riel
1 Philippine Peso = 7.96595 Comoros Franc
1 Philippine Peso = 17.12003 North Korean Won
1 Philippine Peso = 20.46376 Korean Won
1 Philippine Peso = 0.00575 Kuwaiti Dinar
1 Philippine Peso = 0.0156 Cayman Islands Dollar
1 Philippine Peso = 6.24805 Kazakhstan Tenge
1 Philippine Peso = 158.41735 Lao Kip
1 Philippine Peso = 28.6285 Lebanese Pound
1 Philippine Peso = 3.00552 Sri Lanka Rupee
1 Philippine Peso = 2.59102 Liberian Dollar
1 Philippine Peso = 0.23569 Lesotho Loti
1 Philippine Peso = 0.05799 Lithuanian Lita
1 Philippine Peso = 0.0118 Latvian Lat
1 Philippine Peso = 0.02586 Libyan Dinar
1 Philippine Peso = 0.18008 Moroccan Dirham
1 Philippine Peso = 0.31929 Moldovan Leu
1 Philippine Peso = 0.99391 Macedonian Denar
1 Philippine Peso = 25.77516 Myanmar Kyat
1 Philippine Peso = 45.76412 Mongolian Tugrik
1 Philippine Peso = 0.15373 Macau Pataca
1 Philippine Peso = 6.73388 Mauritania Ougulya
1 Philippine Peso = 0.65627 Mauritius Rupee
1 Philippine Peso = 0.29618 Maldives Rufiyaa
1 Philippine Peso = 13.63553 Malawi Kwacha
1 Philippine Peso = 0.37196 Mexican Peso
1 Philippine Peso = 0.07566 Malaysian Ringgit
1 Philippine Peso = 0.23683 Namibian Dollar
1 Philippine Peso = 6.82899 Nigerian Naira
1 Philippine Peso = 0.59717 Nicaragua Cordoba
1 Philippine Peso = 0.15404 Norwegian Krone
1 Philippine Peso = 2.06962 Nepalese Rupee
1 Philippine Peso = 0.02745 New Zealand Dollar
1 Philippine Peso = 0.00732 Omani Rial
1 Philippine Peso = 0.01902 Panama Balboa
1 Philippine Peso = 0.0621 Peruvian Nuevo Sol
1 Philippine Peso = 0.06201 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.19897 Pakistani Rupee
1 Philippine Peso = 0.06975 Polish Zloty
1 Philippine Peso = 108.10348 Paraguayan Guarani
1 Philippine Peso = 0.06924 Qatar Rial
1 Philippine Peso = 0.0751 Romanian New Leu
1 Philippine Peso = 1.17631 Russian Rouble
1 Philippine Peso = 16.13468 Rwanda Franc
1 Philippine Peso = 0.07134 Saudi Arabian Riyal
1 Philippine Peso = 0.15092 Solomon Islands Dollar
1 Philippine Peso = 0.25547 Seychelles Rupee
1 Philippine Peso = 0.34155 Sudanese Pound
1 Philippine Peso = 0.16566 Swedish Krona
1 Philippine Peso = 0.02546 Singapore Dollar
1 Philippine Peso = 0.01422 St Helena Pound
1 Philippine Peso = 0.42241 Slovak Koruna
1 Philippine Peso = 149.32471 Sierra Leone Leone
1 Philippine Peso = 10.69051 Somali Shilling
1 Philippine Peso = 397.78391 Sao Tome Dobra
1 Philippine Peso = 0.16644 El Salvador Colon
1 Philippine Peso = 9.79608 Syrian Pound
1 Philippine Peso = 0.23678 Swaziland Lilageni
1 Philippine Peso = 0.60662 Thai Baht
1 Philippine Peso = 0.0483 Tunisian Dinar
1 Philippine Peso = 0.04363 Tongan paʻanga
1 Philippine Peso = 0.08961 Turkish Lira
1 Philippine Peso = 0.1286 Trinidad Tobago Dollar
1 Philippine Peso = 0.56886 Taiwan Dollar
1 Philippine Peso = 43.27563 Tanzanian Shilling
1 Philippine Peso = 0.49705 Ukraine Hryvnia
1 Philippine Peso = 71.0291 Ugandan Shilling
1 Philippine Peso = 0.01902 United States Dollar
1 Philippine Peso = 0.5933 Uruguayan New Peso
1 Philippine Peso = 151.83565 Uzbekistan Sum
1 Philippine Peso = 1494.25528 Venezuelan Bolivar
1 Philippine Peso = 433.30797 Vietnam Dong
1 Philippine Peso = 2.03595 Vanuatu Vatu
1 Philippine Peso = 0.04914 Samoa Tala
1 Philippine Peso = 10.63667 CFA Franc (BEAC)
1 Philippine Peso = 0.05136 East Caribbean Dollar
1 Philippine Peso = 10.63667 CFA Franc (BCEAO)
1 Philippine Peso = 1.926 Pacific Franc
1 Philippine Peso = 4.75366 Yemen Riyal
1 Philippine Peso = 0.23681 South African Rand
1 Philippine Peso = 98.716 Zambian Kwacha
1 Philippine Peso = 6.88415 Zimbabwe dollar

China money floods PH real estate

Chinese money is flooding the Philippines, according to property consultant Colliers International, with a potential for future growth as China gets aggressive under its “One Belt One Road” program. 

As it stands, China has seen increasing presence not just in the Philippines but in Southeast Asia in general, Colliers said in its “China’s One Belt One Road: The Dragon Spreads Its Wings over Asia” report. 

Colliers said that with “One Belt, One Road initiative” (OBOR) and coupled with China’s huge economy and strong currency, the renminbi, it will drive Chinese investment in the region. 

“China’s $1-trillion OBOR project intends to get about 60 economies to invest in infrastructure to develop land and maritime routes which comprise the old Silk Road network that once connected Beijing to Central Asia and European economies,” it said. 

Colliers said while the Philippines does not lie directly on the two major routes in China’s OBOR initiative, it will still benefit from OBOR.

“In fact, the warmer relations between the Chinese and Philippine governments have been benefiting the Philippine economy with growth trickling down to property segments such as office, residential, hotel, and industrial. A more active participation of China into the Philippines’ ambitious infrastructure development program should help sustain growth in the local property sector over the medium to long term,” it said. 

Colliers noted when the business process outsourcing posted an “abrupt decline” in its contribution to the office demand last year to 25 to 30 percent of total from 60 to 70 percent in the prior years, offshore gaming operations catering to the Chinese market took up the slack, accounting for 35 percent of total office space transactions in 2017. 

“We expect these Chinese companies to sustain office demand as inquiries picked up again in 4Q (fourth quarter) 2017. Some firms are requiring between 20,000 square meters (sq.m.)  and 30,000 sq.m. per site. Chinese offshore gambling firms have started to open shop in Cebu, accounting for almost 25 percent of recorded transactions last year,” it said. 

“The strong offshore gambling sector is also driving residential condominium sales especially in the Manila Bay Area where office buildings are developed alongside residential towers,” Colliers added. 

Colliers noted Chinese investors accounted for 10 percent of SM Prime’s international condominium sales in 2017 from less than 5 percent in 2016 while Ayala Land noted that the Chinese buyers accounted for nearly 50 percent of its international sales last year. 

“The take up from Chinese investors helped propel Metro Manila condominium sales to a record-high 52,600 units in 2017 from 42,500 in 2016,” it said.  

In 2017, the Philippines also attracted more than 960,000 Chinese visitors, up 43 percent from the previous year, Colliers noted. Colliers said China is now the Philippines’ second largest tourist market after South Korea. 

“We are seeing the aggressive development of two and three-star hotels in the Manila Bay area and the fringes of Makati CBD due to continued surge of Chinese tourists. Double Dragon is planning to build more Jinjiang hotels in the country’s capital and other urban areas as it intends to more than double its room count to about 2,000 by 2020. Jinjiang is popular among Chinese tourists and business executives given its brand recall and convenient booking platform,” it said. 

“Colliers believes that the influx of more Chinese visitors will play an important part in sustaining hotel occupancy of between 65 percent and 70 percent across Metro Manila over the next 12 months,” it added. 

Even in the industrial park business, Chinese interests is seen to perk up the market as among the crucial deals signed during the Asean Summit in Manila in 2017 is the memorandum of understanding (MOU) between the Philippine and Chinese governments on industrial park development. 

“This should raise industrial supply in the country particularly now that major developers are heading north of Manila. Chinese industrial park developers are aware of the rising demand for industrial space in the Philippines given the country’s expanding manufacturing and export base,” Colliers said. 

Colliers said data from the Philippine central bank reveal also that foreign direct investments (FDIs) from China more than doubled to $28.8 million last year from $10.8 million in 2016, a testament to the Philippines attractiveness to Chinese capital.

“While still not among the major sources of foreign inflows, Colliers believes that the country’s improving stature as an ideal investment destination should encourage more Chinese firms, including those into property development, to aggressively invest in the Philippines in the next few years,” it said.  

“This was evident on the sidelines of the Boao Forum for Asia in China where President Duterte witnessed the signing of $9.5 billion worth of investment deals with Chinese businessmen,” it added.

Colliers also said it sees “greater foreign participation in funding major infrastructure projects that should prop up land values across the country.”

 Among the infrastructure projects that are up for possible financing are the Davao City expressway, Panay-Guimaras-Negros Inter-Island Bridge, Subic-Clark Railway, and the Laguna to Bicol passenger rail. 

“All projects are outside of Metro Manila, lending support to the government’s decentralization thrust. Colliers believes infrastructure implementation and decentralization should provide a favourable backdrop for a thriving Philippine property market,” it said.
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