| | DECEMBER 20234 In 2023, the Philippine economy is estimated to be at 24.27 trillion ($435.67 billion), making it the world's 34th largest by nominal GDP and 14th largest in Asia, according to the International Monetary Fund. With many tourists opting for the Philippines as their destination, an increasing number of expatriates, and numerous investment opportunities provided by the government, the country's real estate industry is contributing significantly to this. The Philippines is looking at more changes in the real estate scenario in the country as Finance Secretary Benjamin Diokno has restated his commitment to deliver real property tax administration reforms by 2025, before the elections. He recently made his intentions clear at the launch of the Local Governance Reform Project (LGRP), which is bringing together 20 local government units (LGUs) and partner state universities and colleges. The LGRP initiative aims to improve how real property tax is administered in the Philippines.Moreover, the country's Real Estate Investment Trust (REIT) Law also offers promises to enhance the sector, as it allows the public to participate in the progress by becoming shareholders in stable and lucrative real estate projects. There are also indications that the government is looking forward to passing the Real Property Valuation and Assessment Reform Bill. This can be translated into a lot of opportunities for entrepreneurs in the segment. The investments are expected to flow, creating a more favorable ecosystem for startups. In this yearly special issue, we have curated some interesting stories from the Philippines' real estate industry. Do let us know your thoughts.Sujith VasudevanManaging Editor editor@ceoinsightsasia.comEditorialThe Philippines Expects Real Estate Reforms Bill Before Elections Vol 04 · Issue 4-5 DECEMBER 2023 Publisher Alok Chaturvedi Managing Editor Sujith Vasudevan Manager - DesignPrabhu Dutta A.R.N Ray Noida Rohit Raghubanshi Akshay Shettyadvertise@ceoinsightsasia.comEditorial queries editor@ceoinsightsasia.comTo subscribeVisit www.ceoinsightsasia.com/subscribe/ or send emailto subscription@ceoinsightsasia.comMagazine Price is $50 per issuePublisher Alok ChaturvediPrinted and Published By Alok Chaturvedi on behalf of InfoConnect Web Technologies India Pvt. Ltd., and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Copyright © 2023 InfoConnect Web Technologies India Pvt. Ltd., All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.Senior DesignerGirisha M Tushar Das Antony Arnold FVP - Sales & Marketing Amrit Kumar Singh Circulation Manager Magendran Perumal Editorial Tejaswini P. Keerthana Kantaraju Roopalatha H. Hima P M
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