Three condo developers join "Live Your Dream" program

(The Freeman) Updated October 08, 2009 12:00 AM

CEBU, Philippines - At least three big condominium developers in Cebu are actively participating in the Department of Tourism’s (DOT) “Live Your Dream” program to boost the condominium unit sales especially those that are developed in areas that have tourism attraction.

DOT secretary Joseph Ace Durano said that the Robinsons Land Corporation’s Amisa, the Filinvest developed “Seascapes” both in Mactan Island, and the City Lights City Gardens are actively participating in this program.

Although Durano said his department is able to measure the direct results of the “Live Your Dream” campaign for the developers, he said these developers are enthusiastic about the program.

The “Live Your Dream” program aims to maximize the Philippines’ edge in tourism and stepping up the marketing approach not just to invite foreign tourists to the country, but this time lure foreign travelers to invest in the Philippines, which is known as Asia’s “tropical paradise.”

Through DOT’s “Live Your Dream” campaign, the agency partners with prestigious and giant developers in the country to push “investment tourism”, inviting foreigners to buy a vacation house or condominium in the Philippines, instead of staying in a hotel or resort.

Durano announced that this concept was developed following the high satisfaction rate of the Philippines, as a destination to foreign travelers. Record shows that Philippines generated 87 percent satisfaction rate among foreign tourists.

“We have a high rate of repeat-visit. At least 60 percent of first-time tourists come back to the Philippines,” Durano.

Because of this, Durano said the Philippines is at its ripe time to encourage “investment tourism” attracting foreign nationals to purchase condominium properties here, thereby further fueling tourism receipts generation, and encourage longer-staying tourists.

Earlier, the Chamber of Real Estate and Builders Association Inc. (Creba) announced that it will actively partner with the DOT’s “Live Your Dream Campaign.”

This campaign, will not only put tourism industry in the Philippines, to its optimum level of success and rake a record-breaking tourism receipt revenue generation, but this particular program is seen to re-open a strong “real estate boom” in the Philippines.

“Condominium units are now in demand especially for foreigners. May it be in a resort, mountain or urban settings,” he said.

According to Durano, through this campaign, DOT is offering a new market opportunity for developers, other than focusing on the Overseas Filipino Workers (OFWs) or on Filipinas married to a foreigner.

This time, condominium or vacation house units in the Philippines will be marketed to the huge number of interested foreign market, who are constantly looking at investing vacation homes, in a tropical environment, like the Philippines.

If the campaign could attract at least 1,000 foreign buyers, and each would buy at least US$100,000 worth of vacation home, it could easily generate US$100 million revenue to the Philippine economy.—Ehda M. Dagooc