CEBU, Philippines — Filipino Homes, the country’s largest real estate marketing network, has launched its first international office in Dubai, United Arab Emirates (UAE), aiming to tap into the growing market of over 10 million Overseas Filipino Workers (OFWs) investing in Philippine real estate.
This follows the approval of the company's trade license in the UAE.
“From a small dream to a grand reality! We’re proud to announce the opening of our international office in Dubai, expanding beyond our 100 offices across the Philippines. We’re dedicated to helping OFWs achieve their dream of homeownership,” said Anthony Leuterio, founder and CEO of Filipino Homes.
Leuterio emphasized that the Dubai office marks the start of an aggressive expansion plan to establish physical offices in countries where OFWs are employed.
He noted that OFWs remain the primary market for residential real estate in the Philippines, as many are exploring real estate as a lucrative investment opportunity.
Located in Rigga Business Center, the Dubai office will host daily property presentations and serve as a platform for Philippine property developers. The setup enables developers to hold cost-efficient presentations in a fully operational space, leveraging the trade license granted to Filipino Homes.
“With our official office and license, we can now organize property expos and streamline operations for developers,” said Leuterio, who was recently recognized as the 2024 International Realtor Awardee by the National Association of Realtors.
The Dubai expansion is strategically positioned to cater to the Middle Eastern market with a significant Filipino population.
According to reports, Filipinos represent 6.8 percent of the UAE's population, with approximately 450,000 residing in Dubai. The UAE ranks as the second-largest employer of Filipino expatriates after Saudi Arabia.
Leuterio plans to aggressively hold events in other Middle Eastern countries such as Saudi Arabia, Bahrain and Kuwait in cooperation with Filipino developers such as Cebu Landmasters Inc. (CLI), Primeworld, among others.
Leuterio highlighted the broader impact of the expansion, stating that the move strengthens the global presence of Philippine real estate products while fostering world-class Filipino real estate professionals.
“This is a significant development for our property sector because we now have a strong partner to promote our products globally,” he added.
The expansion comes as remittances from OFWs continue to grow. Recent data from the Bangko Sentral ng Pilipinas(BSP) showed a 3 percent increase in cash remittances, reaching $31.11 billion from January to November 2024, compared to US$30.21 billion during the same period in 2023. Remittances from the UAE, along with the U.S., Saudi Arabia, and Singapore, are key drivers of this growth.
The Dubai office reflects Filipino Homes’ commitment to helping OFWs achieve their investment goals while driving growth in the Philippine real estate sector, Leuterio added. — (FREEMAN)