Santos Knight Frank unveils The Wealth Report 2018 in Manila
Santos Knight Frank chairman and CEO Rick Santos led the Philippine launch of “The Wealth Report 2018.” Attended by industry captains and society figures, the auspicious occasion was graced by the Knight Frank global team led by Lord Andrew Hay, member of the Group Executive Board and Kevin Coppel, regional head for Asia Pacific.
Now in its 12th edition, The Wealth Report features the latest intelligence and the sharpest insights into the issues that matter most for real estate and the high-net-worth investing community. Nicholas Holt, Asia Pacific head of research for Knight Frank, highlighted the Philippines’ growing prominence as a hub of Ultra-High Net Worth Individuals (defined as those with US$50 million or more in net assets), with a forecast growth of 84 percent in the number of ultra-wealthy between 2017 and 2022 — the second highest in the world after China.
Lord Hay says, “This is my first visit to the Philippines and I am absolutely delighted to be here with Rick Santos and his incredible team from Santos Knight Frank. We were lucky enough to partner with Rick’s company, with his 1,200-strong team across 11 different service lines, at the beginning of 2017 and the Philippine market continues to go from strength to strength.”
Coppel says, “I am confident that this year’s edition of The Wealth Report will both guide and reassure readers. In addition to exploring the movement of wealth around the globe, the 2018 report offers some fascinating insights into a wide range of topics such as blockchain technology; private wealth and the family office; and key themes shaping the flow of capital and property investment markets.”
Santos concludes: “The immense growth seen in the property sector over the last decade has fueled the rise of private wealth and will open opportunities for more Filipino investors looking beyond the borders for growth. The potential of the Philippine market for the democratization of wealth and property ownership through Real Estate Investment Trusts (REITs) is significant and we are excited about the future of this sector.”
Lord Hay, Coppel and Holt were joined by Victoria Garrett, Knight Frank’s Asia Pacific head of Residential and Richard L. Jordan, Douglas Elliman Real Estate’s senior vice president of Global Markets. Santos Knight Frank, together with Douglas Elliman, its USA partner and New York’s leading brokerage firm, introduced a number of prime residential real estate developments in New York and Los Angeles during the USA Property Exhibit on May 11and 12at the hotel.