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Real estate looks forward to a good year, buoyed by BPOs and the resurgence of retail, leisure and gaming

BULLISH. Philippine real estate looks set to enjoy another good year. File photo by Rappler

MANILA, Philippines The prospects of the Philippine real estate industry this year are bright, anchored by the continuing growth of the Business Process Outsourcing (BPO) sector and supported by the resurgence of the retail, hospitality and gaming sectors.

We just rang in the year of the goat during Chinese New Year, but this certainly wont be a goat year for Philippine real estate. Its going to be another strong year, said Rick Santos, founder, chairman, and CEO of CBRE Philippines.

CBRE Philippine is the local subsidiary of the CBRE group, the largest real estate services company in the world.

The BPO sector remains the top driver for investment in the country due to the countrys cost-effectiveness and demographics dividend, according to CBRE.

The continued expansion of the BPO sector has also significantly accelerated the services sector, which has grown at 3.3 percentage points of the GDP and is the top drawer of economic growth in the fourth quarter of 2014, he added.

By 2016 BPO revenue is estimated to exceed $25 Billion (P1.10 trillion) and $48 billion (P2.12 trillion) by 2020. With that amount of money coming in, businesses linked to the sector will see great opportunities, Santos said.

The sector continues to be the main source of demand for the office market, according to John Corpus, director of agency and brokerage at CBRE. The Philippines has overtaken India in voice call centers including Western banks and IT firms due to client preference for local English accent. Call center numbers are growing at about 20% per decade, he said.

Corpus added that for every one BPO job, an additional two and a half jobs are created in construction, administration and services and in this way, they build cities.

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No goat year for PH real estate in 2015

RACINE The Journal Times Home Expo 2015 will be held from 9 a.m. to 5 p.m Saturday, Feb. 28, and from 10 a.m. to 4 p.m. Sunday, March 1, at Festival Hall, 5 Fifth St.

Approximately 70 vendors will be featured at this years expo, which offers a wider variety of home improvement vendors, showing everything from flooring and window options to work-of-art coffee tables, archival photo restoration, solar energy, home Internet service, and medical supply items that can make homes safer and more comfortable for families.

Free, hour-long seminars covering a range of topics will be presented by vendors. The schedule:

Sunday is Kids Day and will offer special activities for youngsters, including a Home Depot Kids Seminar at 2 p.m. Lollipop the clown will also be on hand Sunday, doing face painting and balloon friends.

Both children and senior citizens can also take advantage of the Safe Assured ID program, which will be available both days at no charge. Presented by the Volunteer Center of Racine County, Safe Assured ID provides children and seniors with an all-inclusive ID package that aids in the quick recovery of a missing person. For more about Safe Assured ID, go to http://www.volunteerracine.org.

Prizes and give-aways, including a $250 Home Depot gift card and a Racine Raiders ticket pack, will be issued each day (winner need not be present to win). Food and beverages will be sold by Dannys Meats & Catering.

Admission is $3. There is no charge for ages 16 and younger. For more information, go to http://www.journaltimes.com/app/homeexpo.

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Home Expo 2015 highlights home improvement vendors

HGTV GREENLIGHTS FOUR NEW RESTORATION AND FLIPPING SERIES

NEW YORK [For Immediate Release - February 24, 2014] HGTV has pulled the trigger on the production of four series: Flipping Virgins (w.t.), Old Home Love (w.t.), Restoring Victoria (w.t.) and Flipping Moms. The new series, which feature restoration or flipping themes, highlight the smart strategies behind buying the worst house on the best block and reviving it to improve the neighborhood.

"Viewers are very interested in renovation and flipping when it leads to the outcome that every community wants - beautifully restored, well-maintained homes," said Allison Page, general manager, HGTV and DIY Network. "HGTV has had tremendous success with series like Rehab Addict and Fixer Upper which showcase real people who have a passion for renovating older properties to enhance their value to the overall community."

Here's what viewers can expect from the four upcoming series:

Property expert Egypt Sherrod offers first time flippers the ultimate tutorial as they risk it all in the unpredictable world of flipping houses in Flipping Virgins (w.t.).

Old Home Love (w.t.) showcases Utah couple Andy and Candis Meredith as they renovate dilapidated houses from the 1800s and restore them to their original beauty.

Shalina Joy, a New Jersey teacher and single mom of two, takes on her biggest summer vacation project ever - completely transforming a run-down 1900s mansion into a sunny, functional home for her family in Restoring Victoria, (w.t.).

Flipping Moms, givespopular authors and mom bloggers Jen Pate and Barb Machen center stage as they try to balance busy family lives with buying, renovating and selling fixer uppers.

ABOUT HGTV

America's leading home and lifestyle brand, HGTV features a top-rated cable network that is distributed to more than 96 million U.S. households and HGTV.com, the premier source for home-related inspiration, instruction and entertainment, attracts more than six million people each month. The brand also includes the HGTV HOME(TM) consumer products line which showcases exclusive collections of paint, flooring, lighting, furniture, plants, fabrics and other home-oriented products. For more information on HGTV HOME branded products and to find a retailer, go to http://www.hgtvhome.com. In partnership with Hearst Magazines, the HGTV Magazine, a home and lifestyle publication, is currently available on newsstands. Viewers can become fans of HGTV and interact with other home improvement enthusiasts through Facebook, Twitter, Pinterest and Instagram. Headquartered in Knoxville, Tenn., HGTV is owned by Scripps Networks Interactive, Inc. (SNI).

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HGTV Greenlights Four New Restoration and Flipping Series

A ribbon-cutting will be held at 10 a.m., Thursday for the newly remodeled and rebranded, 133-room Best Western Plus El Paso Airport Hotel and Conference Center at Airway and Interstate 10 in East Central El Paso.

The hotel until late last year had operated as the Holiday Inn El Paso Airport Hotel.

Officials with Esperanto Developments, the El Paso company that owns and operates the hotel and several others, did not immediately divulge the cost of remodeling the hotel.

This is El Paso's only Best Western Plus branded hotel. The Best Western Plus brand is a full-service hotel and different from regular Best Western hotels, an Esperanto official said in the past.

Esperanto also is renovating the former Artisan Hotel building Downtown to be an upscale Hotel Indigo-franchised hotel. It is scheduled to be opened this year.

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Rebranding, remodeling of Best Western Plus hotel in El Paso to be celebrated

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