Japan’s Ministry of Land, Infrastructure, Transport and Tourism (MLIT) is looking at investment opportunities for Philippine real estate, the Board of Investments (BOI) said.
Representatives from MLIT met with BOI officials for a briefing on the Philippine real estate investment climate and opportunities for Japanese developers and investors, the BOI said in a statement.
“Through partnerships with organizations like Japan’s Ministry of Land, Infrastructure, Transport, and Tourism, the government is realizing its goal of further increasing investments into the Philippines,” said Ma. Corazon Halili-Dichosa, industry development services executive director at the BOI.
The Philippines, with its growing economy and demand for residential and commercial properties, is an attractive destination for Japanese real estate developers, the BOI said.
MLIT, through its Joint Network for Overseas Real Estate Business (J-NORE) program, is exploring ways to facilitate the expansion of Japanese firms by collaborating with local governments and addressing issues related to the overseas real estate industry.
Discussions focused on enhancing real estate development and management systems through information exchange between the Philippine and Japanese governments and private sector stakeholders.
Real estate services firm Colliers provided insights into the Philippine real estate market, highlighting trends, demand drivers and investment hotspots. The briefing noted positive market developments, particularly in the industrial sector and identified opportunities for Japanese developers seeking partnerships.
The meeting is expected to intensify efforts by the Philippine government to position the country as a destination for investments and create economic growth, the BOI said.