Country Garden Group, one of China’s biggest property developers, expressed interest to explore investment opportunities in the Philippines.
Country Garden general manager Wang Xingjun conveyed the group’s intention to team up with Filipino property developers to expand the Country Garden and Rise Land brands in the country.
Wang said at the sidelines of the China International Import Expo the company intended to open hotels and residential properties in the Philippines and invest in construction and building materials.
“More investors, like Country Garden, have expressed their confidence in the country’s economic stability and business environment under the Duterte administration. They wish to partner with us in providing more jobs and opportunities for Filipinos,” said Trade Secretary Ramon Lopez.
Country Garden runs a centralized and standardized business model that comprises property development, construction, decoration, property management, property investment, and hotel development and management.
It has developed more than 1,000 residential, business and urban construction projects in China, Malaysia, and Australia. It also offers services to more than three million property owners.
Meanwhile, the Philippine delegation to China’s first ever International Import Expo in Shanghai reported $124 million worth of sales.
Philippine sales included $108 million of signed orders for various agricultural products such as bananas, avocados, and oranges. It also includes $16 million of direct sales from exhibitors.
“This is a big win for Filipino companies especially those in the agriculture industry as we push for greater promotion of our fresh fruits category in China’s huge market. The figures exceeded our target sales for this participation, which was $50 million. But Philippine products, known to be of quality to foreign buyers, received overwhelming approval at CIIE,” Lopez said.
Around 57 Philippine exhibitors occupied a 500-square-meter space at the biggest import expo in China. They carried Philippines products and services including snacks, alcoholic beverages, coconut, mango, nuts, chocolates, coffee, cosmetics, baby care, electronic, automotive products, culinary tour packages, franchising, and education services.
The Trade Department said it was looking forward to bringing a bigger delegation to next year’s import expo.