PNB teams up with AAREG to boost marketing for US-based Filipinos interested in buying homes in the PH

The Philippine National Bank (PNB) has teamed up with New Jersey-based Alexander Anderson Real Estate Group (AAREG) to boost their marketing for US-based Filipinos who are looking to secure loans to purchase residential homes in the Philippines.

“We are making it easier for them to obtain a good investment while they are still in the US. We see those in the New York metropolitan area remain to be interested in these investments despite the COVID-19 pandemic,” said Jose Arnulfo A. Veloso, PNB President and CEO.

PNB is now offering what they call an “Own a Philippines Home Loan” and has already tapped AAREG as its first marketing partner for the loan.

Mr. Veloso said PNB has seen a growing number of US-based Filipinos who are interested in acquiring homes in the Philippines.

“Many Filipinos work hard building their careers outside the country and would like to return to their roots,” said Veloso.

Filipinos and those with dual citizenship can purchase land and real estate property in the Philippines, and while foreigners are prohibited from owning land in the Philippines, they can legally own a condominium unit as a place of residence.

SOURCE: Business World