A Cebu-based real estate company has expanded to Dubai, securing a trade license that enables it to legally conduct business and investment transactions in the United Arab Emirates (UAE).

Anthony Gerard Leuterio, Founder of Filipino Homes and recipient of the 2024 International Realtor Award, underscored the importance of the trade license in scaling the company’s operations. 

He noted that the license facilitates investment meetings and allows the company to organize large-scale property expos, streamlining their services for clients abroad.

Overseas Filipino workers (OFWs) remain a key market for the real estate sector. The founder noted that OFWs in the country are actively looking for investments, with real estate among the choices.

A recent survey conducted in May by New Perspective Media, conducted among 3,200 OFWs in May 2024, revealed that 62 percent of Filipinos in the UAE aspire to invest in properties.

Reports from the same month indicated that the Philippines’ real estate market growth is driven by solid economic foundations and the country’s involvement in ASEAN’s economic growth initiatives.

This growing interest may also be attributed to rising OFW remittances.

In October 2024, money sent by OFWs increased to 2.7 percent, reaching $3.42 billion (approximately P198.07 billion) compared to $3.33 billion (approximately P192.86 billion) in the same period last year.