Dubai OFW now has three condo units, plans to buy 6 more over the next few years

Image from Gina Omboy Gelvero's Facebook account
  • A Dubai OFW used to be happy with receiving salary by the end of each month
  • It took her 13 years to ‘wise up’ and invest her money in real estate
  • She now owns 3 condos and plans to acquire 4 more in 10 years

MANILA, Philippines  –  Amid the string of sad and tragic stories of overseas Filipino workers (OFWs) hogging the news recently, here’s a different tale one will certainly get inspiration from.

Gina Gelvero is an OFW based in Dubai who came to the Gulf state, just like many other Filipinos, to seek greener pastures about a decade ago.

And like many OFWs, Gina admitted in an interview with The Filipino Times that she came to the UAE “financially illiterate” – one who is happy and contented with receiving salary by the end of each month.

According to Gina, it took her thirteen long years to ‘wise up’ and finally think about investing her money into something that would not only grow but also “provide her a stable income”.

She then started buying apartments in the Philippines. So far, she has acquired three units in three different cities – in Quezon City, Pasay City and Davao City – and been paying for them on 24-month installment basis with no interest.

Not only that, she’s planning to buy another apartment in Mandaluyong City and hopefully, acquire 6 more in 10 years.

When asked why she decided to invest in real estate, Gina told The Filipino Times:  “I wanted to have passive income so even if I don’t work, I will have something to rely on financially. We should not just depend on our monthly salary. What if you suddenly lose your job?”

Gina, who is also an associate real estate agent in the Philippines, said she expects to earn at least P12,000 a month for her unit in Davao, P18,000 for the Pasay condo, and P25,000 for the QC unit.

“Real estate is good because the value increases at 10-15% a year,” the entrepreneur explained.