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Home News Real Estate Building world-class homes for OFWs
Building world-class homes for OFWs
Sunday, 25 May 2008 23:38
{mosimage}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.
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