‘Foreign owners can help develop provinces’

FOREIGN ownership limits on real estate development in the Philippines should be eased to encourage more investors to come in and develop the vast amounts of land available in provincial areas, a real estate expert said.

Noli Alleje, managing director of The Property Forum, told The Manila Times on the sidelines of the 3rd Philippine Investment Expo and Conference that with the focus of developers and the new administration shifting to provincial areas, it would be a good time to ease foreign ownership rules on real estate.