More than AED 100 million worth of properties was sold at the Pinoy Property Show in Dubai.
- AED 100 million was taken at the Pinoy Property Show
- More than 3,000 people attended the three-day event
- It was aimed at Filipino expats in the UAE
The Pinoy Property Show in Dubai achieved more than AED 100 million (£17.5 million) worth of transactions.
Over three days, the exhibition saw more than 3,000 visitors head to the Dusit Thani Hotel in the United Arab Emirates (UAE) city, all interested in new property developments in the Philippines.
One of the attendees at the event, which took place between April 25th and 27th, was Consul General of the Republic of the Philippines in Dubai Frank R Cimafranca, who told Emirates 24|7 the show represents a huge increase in demand for property in the country from investors in Dubai.
“A significant percentage of the overseas remittances escalated the remarkable sales of residential condominium market last year,” he said.
Pinoy Property Show was aimed at the population of Filipino expats in the UAE who are keen on buying property in their own nation.
The news provider revealed the property market and construction sector in the Philippines are seeing resurgence and contributes 11% and 8-9% of the gross domestic product respectively.
This was the first property exhibition in the Middle East intended for the Philippines and was organised by Alpha Conferences, seeing a number of developers, finance providers and property specialists attend.