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Today’s inward remittances from the 7.76 million Overseas Filipino
Workers account for almost 10 percent of the country’s gross
national product, according to the Philippine Overseas Employment
Administration. A third of these contributions are used in either
buying a home or land investments, which fuel the local real estate
industry. Despite the current depreciation of foreign currencies,
OFW remittances spent on real estate investments still remains
strong. In fact, for the first quarter of 2008, OFW remittances are
up 13.2 percent from the same time last year according to Bangko
Sentral ng Pilipinas.
The United States, Saudi Arabia, The United
Kingdom, Singapore, Italy and Hong Kong are the adoptive homes to
the majority of OFWs making these countries the major sources of
foreign remittances.
Recognizing the OFWs’ desire to own homes in
their own country and with the majority of them claiming roots in
the provinces and municipalities, Communities Philippines is
stepping up efforts to provide them with suitable homes in places of
their childhood.
Communities Philippines’ deep understanding of
the needs of its market stems from its long years of experience in
serving the real estate needs of Filipinos. It is the arm of Vista
Land & Lifescapes, the country’s largest homebuilder with
years of experience and dedication in the real estate industry, that
will bring world-class homes to major cities outside Metro Manila.
“You don’t have to live in Metro Manila to
own a world-class home with modern day amenities” said Jerylle
Quismundo, president of Communities Philippines. “Whether you were
born in Pangasinan or all the way down south to Cagayan de Oro and
Davao, we will surely give you a reason to go back home to your
roots.”
Quismundo stressed that Communities Philippines
is dedicated to live up to the demands of the OFW market, with
developments in over 17 cities and municipalities in Pangasinan,
Pampanga, Bulacan, Batangas, Camarines Sur, Leyte, Cebu, Iloilo,
Cagayan de Oro, Davao and General Santos. Moreover, she added, it
plans to expand its geographic reach this 2008 to provide more
choices and investment opportunities to more returning OFWs and
their families.
“Our OFWs work hard and make huge sacrifices
to provide for their families back home. It is our mission to give
them quality homes at very reasonable prices whether it be for
investment or as a retirement home,” said Ms. Quismundo.
Each of the master planned community is made to
offer the unique world class features of Communities Philippines.
Its lush landscaping and amenities adds to the feeling of delight
giving a venue for homeowners to commune together. A flood-free
environment and 24 hour security gives the homeowners peace of mind
while the wide range of house models will surely cater to various
needs and income segments.
For further inquiries on Communities
Philippines’ projects, please log on to www.commphil.com or call
hotline number (02) 7266143.
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