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Fastest-rising Manila properties are from sea-reclaimed land

Bloomberg Published on Wed, Jul 26, 2017 / 11:08 AM GMT+8

residential condominiums and townhouses in Manila, economy grows, reclaimed land prices

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(July 26): In Manila, the crowded Philippine capital of more than 12 million inhabitants, land that was reclaimed from the sea is selling like hot cakes.

Real estate values in the Manila Bay area, home to casinos like City of Dreams Manila and Solaire Resort and Casino, are projected to rise 30% to as much as 250,000 pesos ($6,677) a square meter by year-end, according to Colliers International. That would surpass values in the decades-old Ortigas business district as demand for homes, offices and retail spaces surge in the wake of an economic boom in the Southeast Asian nation.