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Philippines: Tourists targeted for condos

Manila, Philippines – The government is working with property developers to sell condominium units as second homes for foreign tourists in a bid to boost repeat visits, the Tourism department said in

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Manila, Philippines – The government is working with property developers to sell condominium units as second homes for foreign tourists in a bid to boost repeat visits, the Tourism department said in a statement yesterday.

“What we are doing is opening up new marketsin Australia, Korea, Japan and Chinafor the developers, while we are broadening and deepening the market base of tourism,” Tourism Sec. Joseph H. Durano said in a phone interview yesterday.

“The reason we are concentrating on Asia Pacific is because they [make up most of] our repeat visitors. It’s easier to convince them to take the next step and own a second home,” Mr. Durano said, adding that tourists who own second homes also stay longer.

To do so, the Tourism department is providing information on property developments in the country, particularly those near tourist attractions, through Web sites, advertisements, and investment shows abroad. The department counts big name developers like Ayala Land, Inc., Fil-Estate Corp., Megaworld Corp., SM Development Corp. as among its partners for this campaign.

While the Constitution prohibits foreigners from owning land in the Philippines, foreigners may own condominium units, Mr. Durano noted.

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