List Sotheby’s International Realty to lead project management in Subic and Boracay
Japan-based real estate company, List Group, is heavily investing in real estate development projects in the Philippines, including a large-scale development project in Subic Bay and Boracay Island.
A signing ceremony with President Rodrigo Duterte was conducted as early as October 2017 to solidify the plans of the List Group.
“The List Group, including our newly opened Philippine-arm of List Sotheby’s International Realty, wants to contribute to the regional activities and economic development of the Philippines through the synergy of our investments and the marketing efforts of our global network,” said Hitashi Katami, List Group representative.
List Group will contribute to the regional activity and economic development of the Philippines through the synergy of marketing efforts and various investment projects.
The Philippine arm of the real estate brokerage and listing firm List Sotheby’s International Realty will be the program manager, undertaking the leasing and sale of the properties in the proposed development. List Sotheby’s International Realty opened its Philippine office in 2017.
A former US Naval base 81 kilometers northwest of Manila, Subic Bay is a favorite vacation hub among Filipinos and foreign tourists due to its highly diverse experiential offerings. The master-planned naval base is being revitalized by the government to become a financial center for the area. Considered as one of the most strategic bays in the South China Sea, Subic Bay is being highlighted as a free trade area to attract multinational companies and expand trade. Its close proximity to the Clark International Airport, a mere hour drive, makes it an exciting spot for investors.
Subic Bay is one of the few locations in the country that has been designated as a special economic zone – offering special taxation schemes for regional headquarters and manufacturing plants.
The plans of the List Group for Boracay will include luxury condominiums in partnership with local developers. Boracay is scheduled to undergo a six-month rehabilitation period that will allow government to implement infrastructure projects to alleviate the environmental impact of tourists on the world-renowned island.