PHL’s 99-year land lease may boost property activity

A LAW extending land lease terms for foreign investors to as long as 99 years is expected to boost activity in the Philippines' industrial and hospitality real-estate sectors this year, analysts said.

- By Beatriz Marie D. Cruz Reporter

"Industrial and hospitality projects are expected to benefit the most from the law, which can support the already solid interest in these sectors," Janlo C. De Los Reyes, head of research and strategic consulting at JLL Philippines, said in a Viber message.

He added that the longer lease period could boost the value of real-estate developments starting this year, as it provides investors with greater security and predictability.

"The extended land lease law grants them comfort in developing large-scale and complex projects as it offers stability of tenure to afford longer investment horizons," he said.