Property show for Filipino expats launched in UAE
Organiser says three-day show in Dubai set to become annual event
A new property show has been launched in Dubai targeting Filipino expats in the UAE offering them investment properties in their home country.
The Pinoy Property Show will take place at the Dusit Thani Hotel from April 25-27. According to organiser Alpha Conferences, the real estate market in the Philippines is healthy, with money from Overseas Foreign Workers (OFWs) creating demand - most notably in the sale of residential condominiums.
According to research by Colliers International, remittances from Overseas Foreign Workers back to the Philippines increased by 5.4% in the year to August 2012, reacing $13.7bn.
Alpha Conferences managing director Tamer El Sherbini said the Dubai conference is likely to become an annual event and will be followed by a similar event in Jeddah later this year.
"Filipinos form 4.3% of the overall population in the UAE alone and there is about 1.5m in Saudi Arabia, which make up the fourth-largest group of foreigners in the country," he said.
"The launch of the Pinoy Property Show will cater to a big population in the Middle East.”