December 6, 2024 | 12:00am
MANILA, Philippines — The country’s real estate industry is expected to benefit and flourish further under a Donald Trump presidency, according to integrated real estate services company Santos Knight Frank.
In a press briefing, Santos Knight Frank chairman and CEO Rick Santos said that Trump’s win would benefit the Philippine real estate sector.
“President Trump is a businessman. He’s a real estate guy, so we think that will be positive,” Santos said.
“He’s very much into real estate. So I couldn’t think of a better person to help the Philippine real estate sector and business of the Philippines than probably one of the most high-profile real estate individuals and personalities anywhere,” he said.
At present, Santos said the Philippine real estate sector is riding on a wave of opportunities driven by proactive measures from the current administration to open the country further to investments.
He said that the Marcos administration’s CREATE MORE Act, in particular, promotes investment-friendly policies designed to stimulate business growth and demand for real estate.
“These efforts are creating a more dynamic and business-friendly environment, paving the way for sustained development and progress,” Santos said.
“Momentum in the market remains strong, particularly in the residential segment, where Manila has once again secured the top spot in Knight Frank’s Prime Global Cities Index. Demand continues to drive price growth in this sector, fueled by limited supply,” he said.
He said a Trump presidency would be a win for the Philippines, with potentially limited downside.
“There’s always good. There’s always bad. But I’m very optimistic,” he said.
According to Santos, Philippine-US relations will be positive for strategic and business purposes.
He said that Trump’s global trade policies, combined with the recently signed CREATE MORE law, will significantly influence the country’s industrial and manufacturing sectors.
“From a strategic level, the Trump administration and the people he has appointed are taking a strong stance to support the treaty ally and the long US-Philippine relationship. That’s going to be positive for the Philippines from a strategic, defense, trading and business perspective,” Santos said.
“We think the Trump administration will continue to be good for Philippine business. Also, from a US-Philippine perspective, we have never seen US-Philippine relations so good, so strong, so important and so relevant,” he said.
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