The country’s fiscal position also remains strong. Recently, a ranking published by The Economist magazine placed the Philippines sixth out of 66 emerging economies to be in the best position to weather the crisis. The ranking was based on four factors: public debt, foreign debt, cost of borrowing, and reserve cover.
For the property industry, each sector is bound to see different stages of recovery. Dy highlighted that Ayala Land’s office and warehouse logistics units continue to operate without significant effects, while others are seeing different results.
Ayala Land is seeing encouraging signs in its residential business, which recorded increasing sales from April to May and again from May to June while the enhanced community quarantine was in effect.