Ayala Land opens Hong Kong office to attract more offshore investors

  Ayala Land Inc, a leading Philippine real estate developer, has opened its newest office on Des Veoux Road, Central Hong Kong to attract more offshore buyers for its high-end residential projects. Following its well-received expansion in Singapore last September, the Makati-based company is pushing to increase foreign investment in luxury condominiums and villas in Manila to meet the growing demand of affluent Hong Kong citizens for upscale properties abroad. “It is part of our three-year plan to establish ten offshore offices and we our happy to report that our Hong Kong office is our sixth of the ten,” said Thomas Mirasol, president of Ayala Land International Sales Inc. “Our presence here also brings fresh ways for us to serve the vital Hong Kong and South China market.” A winner at last year’s inaugural Philippines Property Awards, the developer reported that offshore investment accounted for at least 20 percent of its sales in 2013. It also intends to launch some of its prime residential projects in Hong Kong this year. Despite the ongoing diplomatic tension between Hong Kong and the Philippine government, Ayala Land is optimistic that the company’s foreign sales may increase to 30 percent, as Manila has recently been named by an Urban Land Institute survey as the top real estate destination in the region.