Lobien: Tourism real estate market to expand
Credit to Author: Faye Almazan| Date: Sat, 18 Jan 2020 16:14:43 +0000
THE Lobien Realty Group expects the local tourism property market to grow as the country looks to increase the number of tourist arrivals this year.
According to the property consultancy company, at least 3,500 rooms are expected to be added to Metro Manila’s hotel supply from 2020 to 2021. These would be located in the Bay Area, Newport City in Pasay City, Taguig City and Quezon City.
Hotels to be developed this year include Seda Bay Area, Seda Arca South and Hotel Okura Manila, and those expected to be built in 2021 are Grand Westside Hotel, Kingsford Hotel, The Ritz-Carlton Manila and Wyndham Gardens.
Lobien Chief Executive Officer Sheila Lobien noted the increase in tourism activities in different provinces and cities in the country, such as Siargao, Palawan, Cebu, Bohol, Dumaguete and Iloilo.
“Tourists flock these areas because they are already developed. When there [are business process outsourcing (BPO) offices] in the area, infrastructures are [already] in place.
[These places] are visited either by [BPO firm] or by foreign tourists,” she said on the sidelines of a briefing in Taguig on Friday.
Lobien Realty said the government’s infrastructure projects, including airport, road and railway developments, would also help boost tourist arrivals in the country.
According to the National Tourism Development Plan of the Department of Tourism, the Philippines is looking to welcome 9.2 million foreign tourists this year.