In the Urban Land Institute’s “Emerging Trends in Real Estate Asia Pacific” report, Metro Manila came in at number 12 in the ranking of top investments prospects, following Hong Kong at number 11 and edging out Tokyo by one level.
In 2011, Metro Manila was ranked 20 and this year, it ranked 18 as one of the top prospects for doing business by investors.
Among the 22 markets ranked by the report, Metro Manila came in at number 11 for investment prospects. It came in at ninth rank for development prospects.
Colin Galloway who presented the report credits the economic growth and business-friendly environment as one of the reasons for this advancement. The country’s growth as a hub for business process outsourcing also contributes to this climb in the ranking.
Another reason that Galloway cited is the investors’ shifting towards alternative markets as the costs of doing business in core markets have become prohibitive. Examples of these would be higher rents, high capital values and low yield, the Manila Times reported.
