Government legislations aimed at enhancing retirement laws will help make the Philippine property market attractive and profitable for both Qatari investors and overseas Filipino workers (OFWs), a Doha-based real estate executive told Gulf Times.
Joseph Timothy Rivera, chairman of the Association of Filipino Real Estate Executives in Qatar (Afreeq), also expressed confidence that the new administration under president-elect Rodrigo Duterte will boost the country’s “investment lucrativeness” in Qatar.
“With the enhancement of retirement laws and the probable amendment of the Philippine Constitution, we hope that the cap on foreign investment in the country will be lifted. 
“Also, we are confident that the investment lucrativeness of the Philippines will definitely flourish here in Qatar at the helm of the incoming administration and the continued support of the Philippine embassy,” Rivera explained.
Asked how Filipino real estate companies could entice more Qataris and OFWs to invest in the Philippine property market, Rivera suggested that realtors should provide more incentives and offer “guaranteed rental returns.”
“Real estate companies should also offer reasonable, if not, full complementary inspection trips,” he further recommended.
Earlier, Rivera said Qatari businessmen are inclined to invest in tourism and resort-oriented properties in the Philippines, adding that foreign investors are also attracted to “alternative inventories” such as highland retreats and beach or island properties, including residential and commercial condominium developments.
Similarly, Philippine Business Council - Qatar (PBC-Q) chairman Greg Loayon said Qataris and other expatriates in Qatar could benefit from the low cost of living in the Philippines.
Loayon noted that government agencies like the Philippine Retirement Authority (PRA) are offering foreign investors various incentives and benefits to boost the country’s reputation as a retirement haven.
During last year’s “Philippine Property Investor Show in Qatar,” Rivera said two hotel apartments and one condominium unit were purchased by “non-Filipinos.” 
“In last year show, only half of the nine participating developers disclosed their sales topping around 96mn pesos (QR7.5mn), of which, 40mn pesos were done by Megaworld International.  At least three purchases were noted to be from non-Filipinos,” Rivera said.
For the second instalment of the event, which was rebranded as “Philippine Property & Investment Show Qatar,” Rivera said he expects more OFWs and Qatari businessmen to purchase more properties in the Philippines.
“We expect more sales this year given our enhancements. Residential properties remain attractive to OFWs, while foreign buyers usually look at ‘condotels’ and condominiums that bring good rental yields,” he said.
During Afreeq’s general assembly on Sunday, Rivera signed a memorandum of understanding with Alaqat chairman Mohamed al-Shahrani for the second instalment of the “Philippine Property & Investment Show Qatar” slated in this October.
He said the event will also include “other Philippine investment opportunities” such as online stock trading and “legitimate multi-level marketing options,” as well as small scale import and export opportunities.


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