Two of Cebu’s leading property developers head to Shanghai for the Overseas Property Investment Trade Show.
Cebu, PHILIPPINES, Oct 14, 2014 – A booming property sector in Cebu has led two of its leading developers Ayala Land and La’Vienna Group to expand their reach into China.
At the 12th Shanghai Overseas Property Investment Trade Show, both La’Vienna Group and Ayala Land showcased their projects alongside major Chinese and international developers from places such as Germany, Australia and Spain, showing that Philippine companies, undaunted by issues of perception, were able to stand with the best of them.
CEO and founder of La’Vienna Group, Vivien Cadungog, who was present at the show called it a success and pointed to the extraordinary opportunity to network.
With the slowing Chinese economy, and a housing market showing marked signs of over-valuation, Chinese consumers, more and more are turning to overseas markets, with the biggest ever expansion in FDI outflows during the strong uptick in growth during 2012-2013. This is despite stringent laws restricting Chinese citizens to just US$50,000 per year being allowed to be taken out of the country. The biggest recipients of Chinese FDI outflows were Russia, India and Brazil – all of which are part of the vaunted BRICS group of economies.