Philippine Ambassador Hjayceelyn M. Quintana urged a 6-member visiting delegation from SM Development Corporation (SMDC), a major Filipino real estate company, to start looking into possible joint ventures in UAE.

“Given SMDC’s stature as a key player in residential real estate development, SMDC can start looking into opportunities from the current housing needs of the large Filipino community in the UAE,” said Ambassador Quintana.

The Ambassador cited the UAE as among the first few economies poised to recover immediately from the pandemic. She also cited favorable business-related UAE legislations as added impetus for looking into possible partnerships with leading UAE companies.

The SMDC group, led by International Sales Director Mr. Norberto B. Layug Jr., is currently in the UAE to survey the international market. They informed the Ambassador that UAE-based Filipinos are their top market for their real estate projects in the Philippines. During their call on 18 February 2021, they also said that the Philippine real estate industry is picking up despite the pandemic, primarily driven by overseas Filipinos.

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