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Manila building boom may lead to a glut

55,000 residential units will come onto the market, slowing growth in lease rates

Manila

PHILIPPINE developers are on a tear. The capital Manila is in the grip of a building boom, led by developers such as Megaworld Corp and Ayala Land Inc, that will add a record number of apartments over the next two years. It also threatens to lead to a glut that will weigh on

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