The world's emerging markets are always changing; markets fade and new markets blosom full of emerging vibrance. Let me discuss to you what's hot in the current RP emerging market of the day. The Pearl of the Orient - Philippine property, considered worthy for investment purposes, currently in the country's capital of Manila as BPOs increase presence here.

Major multinational business process outsourcing firms were expanding their presence in the Philippines. In fact, demand for BPO space continues to drive the segment. The Philippines was recently declared as a popular real estate hub in southeast Asia by international commercial real estate services firm CB Richard Ellis Philippines. Though, affected by the Asian economic crisis, Philippines is fast becoming the commercial hub, its low starting point has also made RP property a hot favorite with investors.

The RP's real estate market is attracting unprecedented levels of investor from investors, most visibly in hospitality and tourism projects. The BPO boom, the positive effects of the stable Philippine peso, increasing tourist arrivals and the influx of the overseas Filipino workers' dollar remittances, as major drivers putting the Philippines in the map of Southeast Asia's most sought-after business locations.

Reasons for the country's popularity among property investors was that the property is cheap and still at a steady price unlike in Singapore which is three to four times more expensive than Manila.

And despite the high prices of foreign imports such as oil hitting the economy - economic growth is expected to slow between 5.2-6.2% this year - property prices in the Philippines are being kept buoyant by a huge housing backlog, low interest rates, friendly payment terms, higher income of workers in the growing outsourcing industry and a rising expatriate population.

Because of its massive growth potential, Philippines property was number one for short-term investment in the David Stanley Redfern research department's top ten. Investors are pouring money into the property sector, a sign that they remain confident in the long-term prospect of returns from the real estate market.

Especially in Manila, a mostly low-rise city where dozens of residential towers are beginning to dot the skyline; at least 38,000 new apartments will be available by 2013 in the Makati financial district and in nearby Bonifacio Global City alone. Our Philippine property is a three tower development of apartments in Manila's main financial district, Makati. As Philippine property goes, the Atrium towers have found the perfect balance between luxury and affordability. Their low price makes them a favorite with investors hoping to capitalize on the huge growth potential of Philippine property. Property is expected to grow in value by no less than 24% for the next five years and possibly even more in the next 2-3 years.

CBRE Philippines cited that last year, tourist arrivals broke the two-million mark for the first time since 2004, with arrivals rising to 3.091 million. CBRE  is expecting new markets, such as Russia, Middle East, China and Korea to help sustain tourism growth. CBRE is also projecting arrivals to increase to 3.4 million this year and generate US$5.8 billion in international tourism receipts.

Hotel room occupancy rates rose to 73.06% in 2007 from 71.95% in 2006. New development projects include the US$153 million Kingdom Hotel, a combined hotel and residential condominium that will rise in Makati city.

According to CBRE research, 731,871 square meters of property in Metro Manila have been earmarked for new o&o facilities this year, with 189,614 square meters already pre-committed before commencing construction. Some BPO players are also expanding outside Metro Manila, citing the six facilities of Teletech and Accenture, which has leased 1.3 million square feet .

Indeed, the offshoring and outsourcing (o&o) boom in the Philippines has created new opportunities for the real estate market because the country is one of the largest English-speaking nations in the world and has 33.5 million Filipinos in the workforce. Thanks to the business BPO industry boom on the property market. Major global financial companies such as HSBC, Citigroup and JPMorgan are also expanding the sites of their customer service operations in the country.