Philippine Retirement Authority to Promote Property Sector to Retirees

The Philippine Retirement Authority (PRA) is working to promote real estate projects to retirees and expatriates seeking to reside in the Philippines.

Under the PRA-CREBA partnership, CREBA will promote the SRRV to qualified foreign nationals, while PRA will promote CREBA members' properties to potential retirees and include them in international promotional tours and social media campaigns.

This initiative is in partnership with the Chamber of Real Estate and Builders’ Associations (CREBA), the umbrella organization of the country’s real estate and housing industry. PRA Marketing Manager Noehl D. Bautista stated that CREBA members can participate in PRA programs as developers or marketers of residential units and facilities for retirees.

CREBA has 32 local chapters and 7 international chapters, with around 4,000 firms and individuals involved in real estate development, construction, allied industries, and various professional disciplines.

Despite being ranked among the top 10 retirement destinations globally, the PRA aims to further enhance its promotional efforts to maximize foreign exchange earnings.

Forbes Magazine named the Philippines one of Asia’s top three senior-friendly retirement destinations in 2024.

A key part of the PRA’s promotional efforts is the Special Resident Retiree’s Visa (SRRV), which offers permanent residency, multiple entry, indefinite stay privileges, tax exemptions, and work/study permit exemptions.

Under the PRA-CREBA partnership, CREBA will promote the SRRV to qualified foreign nationals, while PRA will promote CREBA members' properties to potential retirees and include them in international promotional tours and social media campaigns.