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SEEING IS BELIEVING
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Make Makati your playground at
Greenbelt Hamilton A
s the country’s financial capital, the City of Makati continues to attract the best companies, brands, hotels, even restaurants. Now is your perfect chance to make this whole city your personal playground by getting a unit right smack within the financial side of Makati. Situated a block away from Ayala Ave. in the glitzy Legaspi Village, the new Greenbelt Hamilton puts you right where the thick of the business action is. It will only take you a short stroll to reach any of the main street’s skyscrapers. With less time on the road, you will quickly be on your way to the top. As soon as dusk sets in, you’re ready for life’s rewards fit for those who work hard. Take another short stroll to Makati’s best night life. Five-star hotels and the luxurious Greenbelt Mall are yours for the taking. Sample new fine dining haunts or go bar hopping until the wee hours of the morning. There’s no need to hurry, for your home at Greenbelt Hamilton will only take a stroll through the park. Greenbelt Hamilton will be the future home of
individuals who desire to make Makati their business and personal playground.
“Greenbelt Hamilton is the new residential offering of Megaworld in the country’s business mecca. It offers an enviable opportunity for those who continue to blitz towards new levels of business success to make Makati their home address as well and enjoy all the pleasures that the city has to offer,” declared Megaworld Corporation VP for Marketing and project head Clifford Legaspi.
Greenbelt Hamilton will rise 31 stories along Legaspi St., near Makati Medical Center. It boasts of a tapered façade, with the floor plan becoming smaller towards the penthouse floors, making this residential building unique in the community. These spaces won’t be bare, however, as these are set for four multi-purpose areas in the 26th and 29th floors. Another unique feature of this residential condominium becomes clearer once night settles in. The outlines of Greenbelt Hamilton finally light up to a blue shade, from the ground all the way to the penthouse floor. It’s like the whole building is on party mode – just like its residents who work hard and play hard. Residents will be welcomed home by a grand lobby at the ground floor. Other amenities that they will enjoy include a 14-meter lap pool, gym, wading pool, day care center and function rooms at the sixth level play deck. Parking will be allocated across three basement and four podium levels. Greenbelt Hamilton offers studio, executive studio and 2-bedroom units, mostly with balconies. Unit prices start at P2.9 million, while monthly amortization starts at a budget-friendly P12,000. With these friendly terms, successful people don’t have to break the bank to invest in a home. Amenities planned for Greenbelt Hamilton include a lap pool and wading pool.
An artist’s perspective of the living and dining areas of a 2-bedroom unit in Greenbelt Hamilton.
It’s time to make Makati your playground by investing in a unit at Greenbelt Hamilton. Please call Megaworld at 856-4220 or 856-4221 or visit the showroom at Greenbelt Parkplace, also within Legaspi Village. Or check out www.megaworldmakati.com.
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12 LEVEL OF SATISTFACTION 16 TOP PHILIPPINES BILLIONERS 17 WORLD RICHEST PEOPLE 25 VISION OF A TIGER 42 TAGUIG CITY BUSINESS HUB 50 RENOWNED NATIONAL PARKS 84 7 WAYS TO SUCCESS DR. ANDREW L. TAN 88 LRA IN FULL GEAR 114 PHILIPPINE PROPERTY MARKET 130 HOUSE BUYING TIPS
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146 MEGAWORLD'S LIFESTYLE MALLS 152 PAG-IBIG MEMBERSHIP AND LOANS 158 REAL ESTATE WORLD EVENTS
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CONTENTS
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REAL ESTATE WORLD │ 9
R EAL ESTATE TRUSTED TRADE REFERENCE WITH A GLOBAL REACH
February - March 2012
WORLD
Vol. 2 No. 1
REAL ESTATE WORLD MAGAZINE DANIEL R. DELA CRUZ
Publisher & Editor-in Chief
BING LAU
Associate Publisher
ANGEL G. VIVAS, JR.
Executive & Managing Editor
MA. FELOMENA GLORIANNE T. BONDOC Photography & Art Director
CRAIG WINSTON WAYNE, DAN CRUZ Photographers
CHERRY TAN, GODWIN NERONA Layout Artists
PETER WALLACE, DR. EDUARDO G. ONG, ATTY. BERCY GARCIA, RENNE ISIDRO, NIXON SALIMBANGON Columnists
ENGR. PORTHOS P. ALMA JOSE, JERRY ABELLA NOEL PAUL BERNAL, ROSAN GOLEZ, JOSE GARDUCE, LIANNE R. PADILLA, NANA NADAL Contributing Writers
SALES & MARKETING DEPARTMENT NIXON SALIMBANGON Vice President
ANGELITO COMAGON Account Manager
MARYANN A. DENILA, MARICAR C. RIVERA Account Executives
REYNOSA M. SUBION Sale Assistant
MEDIACENTRAL, INC. DANIEL R. DELA CRUZ President & CEO
RENNE ISIDRO
VP Real Estate Affairs
ANGEL G. VIVAS, JR.
VP Multimedia Affairs
DEXTER R. DELA CRUZ Treasurer
ELIZABETH DIAZ
Accounting Department Head
GUILLER RAMOS
Credit & Collection
AKI ICHIMURA & ATSUSHI KAWAMURO International Partners
ATTY. SONNY E. PULGAR, ATTY. BERCY GARCIA Legal Counsels
mediacentral,inc Editorial and Marketing Offices: Unit 1503 Antel Corporate Center 121 Valero Street, Salcedo Village Makati City, Metro Manila, Phiolippines Telephone: (632) 828-3333 Telefax: (632) 840-5684 Email: info@mediacentral.com.ph Real Estate World is published quarterly by Media Central, Inc. Opinions expressed on its pages are solely those of the writers and are not necessarily endorsed by MediaCentral, Inc. We welcome unsolicited manuscripts and photographs. We prefer to receive soft copies by email. If you send these by post, kindly enclose with a self-addressed stamped envelope if they are to be returned. While every reasonable care will be taken by the editors, no responsibility Distributed by: is assumed for the said materials. Copyright © 2008 Media Central, Inc. All Rights Reserved. Other Publications by Media Central Inc.:
8│ REAL ESTATE WORLD 10 │REAL ESTATE WORLD
Is a proud member of :
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R EAL ESTATE TRUSTED TRADE REFERENCE WITH A GLOBAL REACH
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PUBLISHER’S NOTE
LEVEL OF SATISFACTION I
DANIEL DE LA CRUZ Publisher & Editor in Chief
n this February-March Issue 2012 of REAL ESTATE WORLD Magazine (REWM), we are introducing a re-branded coffee table magazine which caters to higher end and educated markets. We distributed REWM in more aggressive and popular outlets and improved our merchandising activities to have better visibility. We gave extra incentives to our distributors to increase over-the-counter sales and promotion of the magazine. We established on-line subscription and website center for information about REWM. We distributed the magazine to coffee shops such as Starbucks, Figaro and Café France, and shop of hotels as well! even coffee. The pass-on readership of REWM is excitingly high. Our main thrust is to improve the quality of printing, quality of on editorial, professional and well done photography and graphics to gain forward retentivity and enjoyment of the readers. As we move onwards, our goal is to raise the level of satisfaction of readers, subscribers, advertisers and supporters of the REAL ESTATE WORLD Magazine. The MediaCentral, Inc., publisher of REWM is dedicated to continue its commitment to its partnership with the real estate industry. It also supports the strengthening of all the associations whose goals and advocacies are for the betterment and growth of the industry. It will continuously expand in the multimedia services and continue to search for better ideas, concepts and systems of growth to strengthen our presence in the media industry. The real estate industry has tremendous impact on our economy and has direct and indirect benefit to around 68 industries in the housing sector. Majority of such benefits are plowed back to new investments and for expansion projects. Like other developing countries, housing is the barometer of economic progress and government policies. Our share of contribution as a multimedia company to disseminate information will likewise continue to promote the real estate insdustry. and the its various related industries. REW
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REAL ESTATE TRUSTED TRADE REFERENCE WITH A GLOBAL REACH
WORLD
PROBLEMS & SOLUTIONS
EDITOR'S NOTE
T
he catalyst is a trait of a person related to impulse which means throb or stimulus, incentive which describes as lure or inducement, motivation for ambition and inspiration and spur for action and incitement. All of these descriptions are qualities of an affluent achiever and an enterprising person. The good points of my educational background and track records in business and professional practices, professor and trainor coincided to some good qualities of a catalyst. My sun sign also described some of my traits as a catalyst. My personality possesses a gentle, patient, malleable nature. I have friendly generous qualities and kind compassionate nature; sensitive to the feelings of those around me are my top scores.
ANGEL G. VIVAS,JR Executive and Managing Editor
Responding with the utmost sympathy and tact to any suffering I encounter, I am deservedly popular with all kinds of people, partly because of my easygoing, affectionate, submissive natures offer no threat or challenge to stronger and more exuberant characters. I accept the people around me and the circumstances in which I find myself adapted. I am readily concerned with the problems of others than with my own. We all have unique traits to our personalities. When these traits are suppressed, or unrealized, problems will arise. However we can examine the problem and assess the proper solution based on your own characteristics. If the following problems arise you may try the simplest solution corresponding to each of the problem. 1. If you find yourself being walked on or over in all manner of ways, try to reorient your thinking and assert yourself in a quiet, reserved manner that is more impressive than blustering; 2. Never seeming to have enough money to round out the week with much less the month even though your salary is at par with everyone else’s. You are prone to act as if you have more than you actually do and tend to spend that which you do not have or need for other things. Forego some of the parties and other unnecessary expenses and make a strict budget. 3. A strong sense of despair not shared by family and friends, thus leaving you with that all-alone feeling. You must come out of yourself and open up to those around you have the power to inspire others making you an important part of the human race; take your rightful place. 4. Causing others to be quarrelsome or to walk out on you all together. The upstream current may be pushing too hard for someone to meet your ideals and could wind up pushing people right out of your life. Try lightening up. Many problems always arise, however each of them have the corresponding solution. When they come around try to exercise and workout your brain. In your memory, stay focused and adopt a better concentration, improve your IQ and intelligence speed. Think faster and improve your reaction time. Your attentiveness should be improved to become a sharper and careful driver in all aspects of life. The presence of flexibility in your mind to welcome all positive things to prove that whatever the mind can conceive and believe the mind can achieve is true. Regardless of how many times you may have failed in the past or how lofty your hopes may be. Sort out things and compare, and then pick the best of your choice, you bet it is the best solution. REW
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Sherwood Hills Residential Estates and Golf & Country Club, Gen. Trias, Cavite
World-class homes in a world-class community. A self-contained community, Sherwood Hills meets the primary demands of its residents because right at their doorsteps are the conveniences of a commercial center, an international school, a row of townhomes, and even a hotel. With its glorious splendor of greens cooled by Cavite’s breezes, Sherwood Hills is the perfect reward for all your hard work. A perfect reward for the whole family. For sale at Sherwood Hills, Cavite • Fairway & Residential lots: P3, 500 to P5, 000 per sq. m. • Average lot size: 300 sq. m. • Features and Highlights • 18-Hole Par 72 Signature Golf Course by Jack Nicklaus • Golf Clubhouse • Sports Clubhouse
First-class Subdivision Amenities • Underground Drainage System • Centralized Interrelated Water System • Electrical Distribution System (Meralco) • Portable Sewerage Treatment Plant • Four (4) 100,000-Gallon Water Tanks
FULLY-DEVELOPED FAIRWAY LOTS AND INNER RESIDENTIAL LOTS AT WHOLESALE PRICES MINIMUM OF TEN (10) LOTS PURCHASE SPECIAL BUSINESS PROGRAM FOR FIFTY (50) LOTS PURCHASE
FOR PARTICULARS CALL: ANGELITO COMAGON (63)9396290207, 09275889352 OR (63)9289430934 Email: a_comagon@yahoo.com.au
Located in Barangay Cabezas, Trece Martires City along Governor Drive, Sherwood Hills Residential Estates and Golf & Country Club REAL ESTATE WORLD │ 15 is just over an hour away from the city of Makati via the Coastal Road and Aguinaldo Highway.
Top Philippines
Billionaires W
2011
ho are the richest people in the Philippines in 2011 and who is the wealthiest person of them all? The latest list of the top 40 richest Filipinos for 2011 is now issued and served by the Forbes Magazine. Last year showed the booming Philippine stock market, which increased the fortunes of the country’s richest people to an all time high. Their total net worth increased to $34 billion from last year’s $22.8 billion. Thirty-two tycoons become richer. The richest man in the Philippines is still Henry Sy, who still holds the top spot for the fourth year in a row now. The mall tycoon has an increased net worth of $7.2 billion, up from $5 billion last year. His net worth is also more than double compare to that of Lucio Tan, the second wealthiest, who has a net worth of $2.8 billion this year. John Gokongwei, Jr. came 3rd with $2.4 billion, Dr. Andrew L. Tan is 4th with a net worth is $2 billion and David Consunji has $1,9 billion for 5th position. The Philippines has 11 billionaires (in terms of US dollars) this year from only 5 last year. Among the new billionaires is port operator Enrique Razon, who joins the billionaires for the first time this year. His net worth has increased from $975 million to $1.6 billion this year. The list of top 40 also has newcomers. Among the notable newcomers is 34-year-old Edgar Sia II, the youngest on the list, who sold 70% of his barbecue fastfood chain Mang Inasal to Tony Tan Caktiong’s Jollibee Foods. The minimum net worth in the list this year is $85 million which is up from last year’s $50 million. The following are the richest people in the Philippines for 2011. REW
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4 1.Henry Sy $ 7.2 billion 2. Lucio Tan $2.8 billion 3. John Gokongwei Jr. $2.4billion 4. Dr. Andrew Tan $2 billion 5. David Consunji $1.9 billion 6. Jaime Zobel de Ayala $1.7 billion 7. Jerico Razon Jr., $1.6 billion 8. Eduardo Cojuanco Jr. $1.4 billion 9. Roberto Ongpin $1.3 billion 10. George Ty $1.1 billion 11. Tony Tan Caktiong $1 billion
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12. Inigo & Mercedes Zobel – $980 million 13. Emilio Yap – $930 million 14. Andrew Gotianun – $795 million 15. Jon Ramon Aboitiz – $760 million 16. Beatrice Campos – $685 million 17. Manuel Villar – $620 million 18. Vivian Que Azcona – $555 million 19. Robert Coyiuto Jr. – $400 million 20. Mariano Tan – $375 million 21. Alfonso Yuchengco – $370 million 22. Enrique Aboitiz – $310 million 23. Oscar Lopez – $280 million 24. Jose Antonio $245 million 25. Eric Recto – $200 million 26. Gilberto Duavit – $190 million 27. Menardo Jimenez – $185 million 28. Alfredo Ramos – $180 million 29. Betty Ang – $165 million 30. Felipe Gozon – $163 million 31. Tomas Alcantara – $160 million 32. Benjamin Romualdez – $155 million 33. Wilfred Uytengsu Jr. – $150 million 34. Manuel Zamora Jr. – $145 million 35. Jacinto Ng Sr. – $115 million 36. Frederick Dy – $110 million 37. Luis Virata – $100 million 38. Bienvenido Tantoco Sr. – $95 million 39. Eugenio Lopez III – $90 million 40. Edgar Sia II – $85 million 16 │REAL ESTATE WORLD
World’s Richest O
People in 2011
ther notable billionaires are Google’s founders Larry Page and Sergey Brin who are tied at No. 24 with net worth of $19.8 billion each, Facebook founder Mark Zuckerberg who’s in the top No. 52 position with net worth of $13.5 billion, China’s richest man and founder of search site Baidu Robin Li in No. 95 with net worth amounting to $9.4 billion, Apple’s Steve Jobs in No. 110 with $8.3 billion net worth, and maker of Farmville and Mafia Wars application Zynga founder Mark Pincus who becomes a billionaire for the first time with a net worth of $1 billion as of March 2011.
THE TOP TEN Rank 1 2 3 4 5 6 7 8 9 10
Name Carlos Slim Helu & family Bill Gates Warren Buffett Bernard Arnault
Net Worth $74 B $56 B $50 B $41 B
Larry Ellison Lakshmi Mittal Amancio Ortega Eike Batista Mukesh Ambani Christy Walton & family
$39.5 B $31.1 B $31 B $30 B $27 B $26.5 B
Age 71 55 80 62 66 60 74 54 53 56
Source Telecom Microsoft Berkshire Hathaway LVMH
Country Mexico United States United States France
Oracle Steel Zara Mining, oil Petrochemicals, oil & gas Walmart
United States India Spain Brazil India United States
The top 11 to 20 billionaires Rank 11 12 13 14 15 16 17 18 19 20
Name Li Ka-shing Karl Albrecht Stefan Persson Vladimir Lisin Liliane Bettencourt Sheldon Adelson David Thomson & family Charles Koch David Koch Jim Walton
Net Worth $26 B $25.5 B $24.5 B $24 B $23.5 B $23.3 B $23 B $22 B $22 B $21.3 B
Age 82 91 63 54 88 77 53 75 70 63
Source Diversified Aldi H&M Steel L’Oreal Casinos Media Diversified Diversified Walmart
Country Hongkong Germany Sweden Russia France United States Canada United States United States United States
Other notable billionaires are Google’s founders Larry Page and Sergey Brin who are tied at No. 24 with net worth of $19.8 billion each, Facebook founder Mark Zuckerberg who’s in the top No. 52 position with net worth of $13.5 billion, China’s richest man and founder of search site Baidu Robin Li in No. 95 with net worth amounting to $9.4 billion, Apple’s Steve Jobs in No. 110 with $8.3 billion net worth, and maker of Farmville and Mafia Wars application Zynga founder Mark Pincus who becomes a billionaire for the first time with a net worth of $1 billion as of March 2011.REW REAL ESTATE WORLD │ 17
roster is the development of Mt. Maculot Natural Park in Cuenca, Batangas worth Php 3.7 billion. The 70-hectare park on top of Mt. Maculot will give visitors and tourists the serenity of a natural environment with modern facilities and the best view of Taal Lake and Taal Volcano, Batangas, Mindoro, Laguna and Cavite. The proposed project includes a theme park, convention center, revolving tower, lake resort and mini port, grotto, cable car and zipline facilities. Five more projects are on the billion peso mark. These are the Rice Husk Power Project in San Juan City, Nueva Ecija; the Privatization of the San Fernando La Union Airport; the Commercial and Hospital Development Project in Dasmariñas, Cavite; the rehabilitation and upgrading of Cesar Lim Rodriguez Airport and the Silverado Retirement Village in Morong, Bataan; and the San Juan Convention Center and Resort Development Center project in San Juan, Batangas. “We have a lot to offer the world and with the new administration led by President Benigno Aquino III, the confidence level is high.” DTI Public Relations Office Director Thelma Dumpit-Murillo explained. “Our new slogan at DTI is ‘Enabling Business, Empowering Consumers’. Government is there to create a friendly environment but private sector is the driver. That’s how the synergy works. Issues on judicial reforms, infrastructure, and energy costs are being looked into. We’re streamlining our procedures for registering a business. In the past, it took a week to register a company but now it just takes 15 minutes so that’s one major accomplishment. We’re also trying to launch the Philippine Business Registry and Licensing System which basically is a one-stop shop. When you can go and register, you will be connected to other LGUs and other government agencies like PAG-IBIG or SSS so the process becomes faster. Our target for that is the first quarter of this year,” she added. Director Thelma Dumpit-Murillo
O
rganized by the Department of Trade and Industry, Board of Investments and the Regional Operations and Development Group, the Luzon Investment Conference or LICON was held at the New World Hotel last December. Aimed at showcasing Luzon and inviting investors to take a look at what the region has to offer as an investment destination, the event featured 51 funding-ready projects amounting to Php 26 billion.
“The investment opportunities will target inclusive growth to uplift the poor and marginalized as expressed in the Social Contract of President Aquino to the Filipino people,” DTI Secretary Gregory Domingo said. “There’s a supply chain for every business and you try to strengthen the links in the chain so you create more jobs. DTI is supposed to produce 4.2 million of the 6 million jobs target by 2016,” Murillo supported. The projects are also listed as Investment Priority Projects (IPP) or Private-Public Partnership (PPP). IPP projects are intended to generate jobs thereby eradicating poverty through effective implementation of free trade agreements, strengthening the country’s global competitiveness, support to micro, small, and medium enterprises and promotion of a
LOOKING GOOD, LUZON LICON SHOWCASES NORTHERN REGION “These projects have met the needed requirements like pre-investment studies in examining its investment potential,” said DTI Undersecretary for Regional Operations and Development Group, Merly Cruz.
green economy while PPP projects involve the Local Government Units and the private sector for business opportunities. “With the IPP and the PPP projects at the forefront of the Investments Conference, the DTI will indeed contribute to the development goals of the country,” the Secretary assured.
The most number of investment projects can be found in Region IV-A with 13 projects, Region V with nine projects, and Region II with eight projects. Region I and III have both seven projects each while the Cordillera Administrative Region has four. Region IV-B has two projects and the National Capital Region has one.
With the success of LICON 2011, a second installment is in the works for December of this year. “Because of the positive results that we got, we plan to make this an annual activity. In fact, some of the other regions are already planning to hold their own investment conferences,” beamed Murillo. “This time, it will be a convergence event with the participation of the Philippine Franchise Association and the various Chamber of Commerce agencies. We will conduct business and franchising conferences in line with the investment conference,” Cruz promised.
The biggest project listed is the Antipolo City Government Center which is worth Php seven billion. The center hopes to spur growth and development in the eastern part of the city with its 20 commercial and government buildings including a national government complex, the City Hall, a multi-purpose hall/Justice Hall, the Heritage Museum, and employees’ housing. The other big ticket item in the
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“We’re really hoping that investors will see the Philippines as the preferred choice for their investments. We’re open to help them 24/7 on how investing can be a pleasant and seamless experience for them,” Murillo committed. As President Aquino said, “this is a new day for investments”. And a new day has indeed begun. Nana Nadal-REW
Plumbing System is not just all about installing pipes It is a synergy of Correct Engineering Design Quality Materials Skilled Manpower
“ As suring the Filipino people continuous supply of potable water and safe dispos al of waste water “
PIPELINE ENGINEERING UNIT 402, ALMAJOSE CONDOMINIUM BUILDING I No. 342 M.F.Jhocson St., Sampaloc Manila Telephone No. : 710-59-39 Fax No : 571-42-91 Email Address: thepipelineengineering@yahoo.com
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REAL ESTATE TRUSTED TRADE REFERENCE WITH A GLOBAL REACH
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THE ENVIRONMENTALIST
A A clean clean and safe
O
ne sunny day while traversing the coastal road, my Chicago-based friend exclaimed, “Thos, look! Tower cranes everywhere. There’s so much activity goin on here.” I can only agree with him in silence but I was completely perturbed with the sight. Constructions, vertical or horizontal, mushrooming left and right spell economic growth. This is in itself emphasized the gap between the rich and the poor, and across regions. But don’t get me wrong, I am not a spoiler of a growing economy. I just want to accentuate sanitation especially on water of the rich and poor dwellers.
Engr. Porthos P. Alma Jose C.E., S.E., En Pl. Past President Philippine Society of Sanitary Engineers Past President Philippine Water Works Association Charter President Water Environment Association of the Philippines Past National President CREBA
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Noticeably, the housing backlog is being addressed immediately both by the government and private sectors. The developers of middle and high end private sectors set aside budget of a particular development on aesthetics and other highly visible artworks because these command brisk and high sales. More often than not, the water and sanitation requirement of a development is either temporarily put on hold or totally neglected. Despite the existence of the Code of Sanitation, of numerous articles and journals published and several studies conducted, sanitation and clean water remain elusive to urban and rural dwellers most especially to the low-income
water for every and poor ones who rely on shallow wells and septic tanks. I have observed that most developers are riding on the lack awareness on sanitation of these people. To cite an example, most of the socialized housing projects I have visited, shallow wells and septic tanks were constructed less than 10 meters apart. From a sanitary engineer’s stance, such were UNACCEPTABLE. It was observed that all septic tanks are smaller than what is required in the sanitation code and worse the septic tank are not sealed. It is a case of fresh ground water being contaminated by the wastewater from the septic tank. The Department of Health requires 25 meters distance between septic tank and water source. It is sad to note that the housing units being developed is like putting up a community of unhealthy people. After this experience, (I never stopped approaching and talking to small or big developers and government agencies about their utmost responsibility of creating clean water systems). Time and time again, I have to remind all stake holders to revisit the sanitation code (PD856) and that water used for irrigating landscape should never compete with fresh water for drinking and for other domestic uses. That water is INFINITE is no longer a truism. We have to accept the fact that water nowadays has been limited, contaminated, polluted, and most of all expensive. Given this scenario, contamination and pollution in water can still be reduced if not totally eliminated, this can be converted into new water resource with the use of a sewage treatment
JUAN
plant (STP) in every development. It will answer the perennial problem of poor sanitation in water supply at the same time augment water resources. The usage of water once treated will be maximized. STP is a simple engineering device and may cost even less than an Amorsolo or Manansala masterpiece. I urge the government and private sectors to consider this simple engineering marvel-a work of art, the STP. Our beloved country is well-endowed with water resources. Let us be good stewards to these so there will always be clean and safe water for everyone.
After all, water is life.REW
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REAL ESTATE TRUSTED TRADE REFERENCE WITH A GLOBAL REACH
CALLING ALL
WORLD
REAL ESTATE WATCH
REAL ESTATE BROKERS, APPRAISERS, CONSULTANTS AND ASSESSORS
B
y this time, we assume that most if not all practicing real estate brokers, appraisers, consultants and assessors and those who are qualified under the new law have already registered with the Professional Regulation Commission (PRC) or in the process of registration. By new law, we are referring to Republic Art No. 9646 known as the Real Estate Service Act of the Philippines or simply RESA LAW which took effect on July 30, 2009 mandating the PRC registration of these professionals.
ATTY. BERCY GARCIA Real Estate Attorney
The RESA LAW is quite clear in identifying the real estate service practitioners who are exclusively covered by the law under Section 3 (g) thereof by giving full definition of the nature and scope of the functions and duties of all the real estate professionals enumerated above. It is important to note that the RESA LAW covers only these groups of PRC-registered professionals and when they form real estate service associations, they can only be composed solely of brokers, assessors, consultants and appraisers in distinct and separate groups with their separate organizations and set of officers preparatory to their integration into one and only accredited and integrated professional organization of real estate service practitioners to be known simply as AIPO, as mandated under Section 34 of RESA LAW, which is quoted hereunder, as folows: Sec. 34. Accreditation and Integration of Real Estate Service Associations. All real estate service Associations shall be integrated into one (1) national organization, which shall be recognized by the Board, subject to the approval of the Commission, as the only accredited and integrated professional organization of real estate service practitioners. The foregoing observation is material in the light of the passage of Resolution No. 19, Series of 2011, issued by the Professional Regulatory Board of Real Estate Service (PRBRES) on October 21, 2011, duly approved by PRC, to take effect on November 30, 2011. Due to space limitations, the full text of resolution No. 19 can not be printed but copies can be furnished upon request. The above Resolution expressly grants the PHILIPPINE INSTITUTE OF REAL ESTATE SERVICE PRACTIONERS, INC. (PHILRES) their petition for recognition and accreditation as the one and only Accredited and Integrated Professional Organization (AIPO) of Registered and Licensed Real Estate Service Practitioners and, accordingly to issue a Certificate of Accreditation. It is noteworthy to cite the mechanics and procedure undertaken by PRBRES to arrive at their final choice of PHILRES. They conducted a series of consultation meetings with different organizations of real estate service instructing them to submit their respective positions for recognition and accreditation as the one and only AIPO. It is our position that Section 34 of the RESA LAW has not prescribed any consultationmeetings and submission of position paper. In plain language, the said Section simply provides for the mandatory integration of all real estate service associations into one (1) national organization of Real Estate Service Practitioners to be recognized by both PRBRES and PRC as the only AIPO. What should have been done was to identify and count all registered real estate services associations composed separately of assessors, appraisers, consultants and brokers such as REBAP, PAREB and NAR. Assuming that for the sake of argument that there are ten of them, the ten heads of
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these associations should have been instructed to implement the formation of an AIPO, as mandated under Section 34 of the RESA LAW, that leaves these Associations no choice but to form AIPO. Having come to an agreement on the AIPO formation, all the associations heads should work out and convene their respective members of their approval and ratification of the AIPO formation. Armed with board resolutions confirming approval of their respective members, all the association heads who voted in favor of the AIPO formation shall have a final meeting to incorporate AIPO where the association heads can be the incorporators much like a federation. This is a simple undertaking which should not have taken more than two (2) years from RESA LAW effectivity on July 30, 2009 to take action if those concerned are doing their homework. For the renegades who do not want to join AIPO, the Board of Directors of the new AIPO can act accordingly, or PRBRES can initiate or approve an AIPO recommendation for such sanctions or whatever remedy is appropriate. Remember, there can only be one AIPO which is legal, valid and truly representative of all the associations composed of brokers, assessors, consultants and appraisers all over the Philippines. Any other group claiming to be Why is the creation of a valid, correct and legitimate AIPO so another AIPO is illegal and cannot be accredited and recognized important for all PRC licensed brokers, appraisers, consultants and by PRBRES and PRC. assessors. First, all these professionals shall automatically become members of AIPO and shall receive the benefits and privileges All the foregoing undertakings should be under the initiative, appurtenant thereto, as provided in the second paragraph of guidance and direction of PRBRES which under Section 5 (s) Section 34 of the RESA LAW. Second, the Code of Ethics and Article II of the RESA LAW can discharge such other powers, Responsibilities for these professionals shall be prescribed and duties and functions to carry out the provisions of RESA LAW. issued by AIPO exclusively under Section 35 of the RESA LAW. PRBRES, however, should remain objective and impartial in all Third, the guidelines on the Continuing Professional Education these undertakings to avoid suspicion of favoring a particular (CPE) shall be developed, prescribed and promulgated by PRBRES person, group of professionals or association. upon consultation with AIPO, among others. Fourth, the CPE Council has one of its members an AIPO representative, as From the above explanation, we do not see how PHILRES provided under Section 36 of the RESA LAW. Fifth, which is singly and alone can be AIPO. There are other organizations important is the enormous funding to be collected from fees and which have similarly applied for such AIPO recognition and contributions arising out of the automatic AIPO membership of we reiterate our position that by definition, integration or being thousands of brokers, assessors, consultants and appraisers from integrated means to bring together or combining several units to all over the Philippines. It is so huge that it will run into millions form a bigger whole and one association or unit solely cannot and if this big money gets into the wrong hands or monopolized claim integration. by only one association composed mostly of brokers and not by the entire AIPO membership of consultants, assessors, appraisers From a reading of the PHILRES Articles of Incorporation and brokers, it is alarming and fraught with danger. filed with and approved by SEC on May 19, 2010, there are fifteen (15) incorporators whose professions and affiliations This is, therefore, a wakeup call for the thousands of real as to whether all or some of them are PRC licensed assessors, estate professionals cited above to consider this matter seriously. consultants, appraisers and brokers are not fully disclosed much If you believe in Resolution No. 19 and would like to join a select less the real estate service associations they are duly authorized by group called PHILRES, we will respect your decision. If not and their members to represent. It appears that one of their purposes you feel that a change, revocation or amendment is in order, please is to form the AIPO. In the meantime that they are working on it, let us hear from you PARA SA DAANG MATUWID. This is assuming that they have actually started, and may not even succeed your AIPO as mandated by law, your fees, your career and the at all in forming the legitimate and valid AIPO, PRBRES and PRC future of the real estate service profession. bercygarcia@yahoo. have already recognized and accredited PHILRES as one and only com REW AIPO under Resolution No. 19 above-cited.
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T Vision: Few large animals have color vision as capable as that of humans. Tigers have excellent and clear vision especially at night time. Tigers hunt at night because they can see well in the dark. Their clear vision at night is perfectly adapted to night time hunting which allows tigers to hunt for prey in the dark forest at a highly successful rate.
igers -- Panthera tigris -- are mammals of the Felidae family and one of four “big cats” in the Panthera genus. They are the largest and most powerful living cats. The Indian subcontinent is home to more than 80% of the wild tigers in the world. The tiger’s beautiful blend of grace and ferocity led the legendary author and conservationist, Jim Corbett, to remark: “The Tiger is a large hearted gentleman with boundless courage.” It is noteworthy to compare the tiger with Dr. Andrew L. Tan with a similar remark: a “large hearted gentleman with boundless courage….” He possesses the clear sight or vision of good business, just like that of a tiger.
The bright and positive eyesight of a tiger has always been associated with that of a visionary businessman. The entrepreneur who can envision and establish the track record of success portrays talents, skills and good planning. Dr. Tan describes success in a different version in accordance to his experiences in real estate. “After 20 years in the real estate business, I can really say that there are no shortcuts to success. Success is more of a journey than a destination. When I started out, I did not know as much as I do now. Along the way, I learned there are certain ways to reach my goal of enriching lives through real estate. This can also serve as your guide to your own success.” These very inspirational words were parted in the article written by Dr. Tan himself in the University of the East (UE) Alumni coffee table book Tomorrow Begins in the East entitled 7 ways to success in Real Estate. (Editor's Note: Please refer to page 84 to 86)
International Convention Center, CCP Complex in Pasay City. The conferment coincided with the joint 13th Midyear Commencement Rites of UE Manila and UE Caloocan. A 1974 UE Bachelor of Science in Business Administration graduate, magna cum laude, Dr. Tan has business interests in real estate, food and beverage, quick-service restaurants and integrated tourism under the umbrella corporation Alliance Global Group Inc. (AGI).
Finding success in the field, he set his sights for something bigger. Tan eventually established Megaworld Corporation in 1989 and the firm was listed in the Philippine Stock Exchange in 1994. A very strong leader in real estate, Dr. Tan is best known as the Chairman and CEO of Megaworld Corporation, one of the country’s foremost township and residential developers and the name behind Eastwood City, McKinley Hill and Newport City, He was conferred by UE the degree of Doctor of Humanities, to name a few. They also completed 10 projects in the Makati honoris causa, last December 8 at the Plenary Hall, Philippine Central Business District (CBD): Dr. Andrew L. Tan, Chairman and CEO of Megaworld Corporation, envisions 8 Newtown Blvd in The Mactan Newtown, Mactan Island, Cebu, as a prime residential address for retirees.
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THE VISION OF A TIGER DR. ANDREW L. TAN
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in the country. We have a lot going on our side: the warm hospitality of the Filipino people, the beauty of our islands and natural environment plus of course our warm year-round climate, to attract retirees and tourists,” the tycoon declared. Dr. Tan is also the chairman of Emperador Distillers Inc. (EDI), makers of Emperador brandy. But his first brand was Andy Player Special. One of the amazing accomplishments of this selfmade businessman is his unexpected success in making his homegrown Emperador Brandy into the world’s largest-selling brandy in terms of total number of bottles sold in 2006. This was revealed in Drinks International, a UK-based publication that covers the worldwide liquor industry. Dr. Tan’s firm sold 7.2 million nine-liter cases of brandy that year, and plans to soon expand into Thailand and the vast China market. Minimalism extends to the sleeping den in this artist’s In 2007, Tan’s AGI acquired 100 percent of EDI rendition of a studio unit of 8 Newtown Blvd. from the Anderson’s Group and other investors.
Kingswood Makati, The Salcedo Park, The Manhattan Square, Paseo Parkview, One Lafayette Square, Two Lafayette Square, Greenbelt Radissons, Greenbelt Parkplace, Greenbelt Chancellor and Greenbelt Excelsior. Megaworld has completed three office projects in the Makati CBD: The World Centre, Petron MegaPlaza and Citibank Square and a mixed office-retail project, Paseo Center. Greenbelt Madison and One Central are both under construction and are signatures of Megaworld luxury addresses in the area. Recently, Two Central and Three Central were launched also in a prime location on the financial side of Ayala Avenue. After successfully opening the market for residential condominiums to mid-income families and launching the business process outsourcing (BPO) office space segment in the industry, Tan’s Megaworld Corporation blazes on another new trail, as it has started to capture a chunk of the huge market for retirees. With the soft launch of its 8 Newtown Blvd development in its 16-hectare The Mactan Newtown project in Cebu, “Megaworld has drawn what could be the benchmark for retirement communities
Walk towards tranquility at the Japanese garden.
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EDI produces and markets three brands: Emperador Brandy, Generoso and The Bar. For Emperador, Tan reinvented the way liquor is advertised by making it synonymous with success. He instructed advertisers to refrain from using sexy models, and instead associate it with hard work, drive, ambition and success. Reader’s Digest awarded Emperador Brandy as the Most Trusted Brand in 2004, 2006 and 2007. In 2005, Dr. Tan’s holding company acquired 49 percent of Golden Arches Development Corporation (GADC), the master franchise holder of McDonald’s in the Philippines. His latest venture, Travellers International Hotel Group Inc., manages and runs the Resorts World Manila (RWM) complex, located across the Ninoy Aquino International Airport Terminal No. 3 in Pasay City. Launched in August 2009, Resorts World Manila currently hosts the largest casino in the Philippines. The new hotels will boost the group’s room inventory in Resorts World Manila to 2,800 rooms by 2016 when tourist arrivals are expected to hit 6.5 million.
A horizon-edge pool on the fifth-level play deck is among the top amenities on offer at 8 Newtown Blvd.
Resorts World Manila, which is eyeing at least five million visitors this year (2011) from two million in 2010, launched 24x7 shopping last year, Travellers President & CEO Kingson Sian said. The retail outlets at RWM currently close at 12 midnight while the cinemas are already open 24 hours during weekends. Sian noted that Marriott Manila has the highest occupancy among five-star hotels in the metropolis. Sian said the company is rolling out four more hotel facilities within the 10-hectare Resorts World Manila over the next five years to add to the existing three – Maxims Tower, Marriott Hotel and Remington Hotel. Travellers is also investing at least $1.1 billion in the 31-hectare Resorts World Bayshore City in Entertainment City Manila, its second integrated tourism estate which is three times the size of Resorts World Manila. Travellers, a joint venture between Tan’s AGI and Genting Hong Kong Ltd., will start construction of Resorts World Bayshore City by the end of 2011, which is envisioned as a themed development and expected to create over 100,000 direct and indirect jobs.
shall be the vehicle for the group’s development of master planned integrated tourism estates in the country’s prime tourist spots such as Boracay, Tagaytay, Laurel and Nasugbu, Batangas. With all these changes, GERI’s primary objectives now are to generate earnings and establish its position as a leading developer of master planned integrated tourism estates in the Philippines catering to both the domestic and foreign markets. The tycoon is looking at making Boracay a more vibrant place that will attract even more tourists with the soft launch of Boracay Newcoast. This is his first venture into island tourism estates, and he planned for it meticulously. A recent trip to the enchanting island of Santorini, in Greece, with white villas hugging the still active volcano’s sloping caldera, has inspired the taipan to plan and he planned for it meticulously. A recent trip to the enchanting island of Santorini, in Greece, with white villas hugging the still active volcano’s sloping caldera, has inspired the taipan to plan for and make his new tourism project in Boracay Island magical and memorable for visitors.
Dr. Andrew L. Tan’s Resorts World Manila is the Philippines’ first integrated tourism estate hosting hotels, a performing arts theater, a luxury shopping mall and the country’s largest gaming center. It is located at Newport City, right across NAIA Terminal 3.
Sian said the group is planning to build two or three hotels for the Bayshore hotel project, which will have at least 2,800 rooms. Tan is likewise the Chairman and CEO of Global-Estate Resorts Inc. (GERI), which is now 60% owned by AGI and has been renamed in line with the direction that the company will take. It is envisioned by AGI that the company REAL ESTATE WORLD │ 27
As proof of his successful business ventures, Tan was reported as the Philippines’ third richest man with a total net worth of US$2.2 Billion. The latest list of the top 40 richest Filipinos for 2011 is now issued and served by Forbes magazine. This year shows the effects of the booming Philippine stock market, which boosted the fortunes of the country’s richest people to an all time high. Their total net worth increased to $34 billion from last year’s $22.8 billion. Thirty-two tycoons became richer. Based on this flux in the wealthiest roster and in the fast-changing business landscape of the Philippines, it wouldn’t be surprising if the driven, passionate and visionary self-made taipan Tan would soon become No. 1, and prove himself the new king of the pack, Filipino columnist Wilson Lee Flores opined.
through the pursuit of excellence in our core businesses and investment in industries that offer more room for profitability and growth.” In one of the many interviews with Dr. Tan, a question was posed to him. “What else do you want to achieve in life?” He replied with a passionate statement believed to be closest to his heart, “As a businessman with a strong passion for real estate, I hope and pray that we can help our country take a successful quantum leap in the next big business frontier for the country: TOURISM.” That was in 2008, when he started envisioning how he will enter tourism in a big way. Four years later, with the strides that AGI has made in Resorts World Manila in terms of wooing foreign tourists to include Manila in their holiday travels, and in the upcoming Resorts World Bayshore City, plus his efforts, through Megaworld, to entice retirees to spend their golden years in the Philippines through his exciting 8 Newtown Blvd project in The Mactan Newtown in Cebu’s Mactan Island, Tan has made that quantum leap, with even more successes undoubtedly expected on the way. AVJ-REW
The achievements of Tan do not stand unrecognized. His alma mater, UE, awarded him as the “Most Outstanding Alumnus in 2003.” He was also awarded “Businessman of the Year” by the Quezon Forbes magazine estimates Dr. Andrew L. Tan’s net worth at US$2.2 billion. City Government in 2004. In 2005, the City of Taguig gave him the “Forward Taguig Award” in the Field of Business and Entrepreneurship. BizNewsAsia magazine honored him as “Business Icon Gold Awardee” in 2008. Dr. Tan is also a devoted philanthropist through the Megaworld Foundation. His Megaworld Foundation undertakes various socioeconomic development programs and supports projects contributing to the empowerment of the less privileged in Philippine society. Among their programs is the Megaworld Foundation scholarship, which provides grants to students who excel in both academic and leadership endeavors. We quote him in his message to his peers, associates, investors and employees: “As a world-class Filipino conglomerate, we will be an active partner in national economic development.
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Santorini inspires tycoon Dr.Andrew L. Tan for Boracay island development
M M
agical. Indescribable. Astonishing. These are the words that tourists use to describe the Aegean island of Santorini, in Greece. A recent trip to this enchanting island, with white villas hugging the still active volcano’s sloping Caldera, has inspired taipan Dr. Andrew L. Tan, chairman of conglomerate Alliance Global Group Inc. (AGI)to plan for and make his new tourism project in Boracay Island magical and memorable for visitors. suites with access to a private beach. These hotels will help the island accommodate the projected increase in Boracay tourist arrivals from about 900T in 2011 to 1.75 million in 2016. With more tourists being serviced, employee count will normally follow suit. The leisure center and the Newcoast Station will feature outdoor activities that tourists will enjoy. Boutique hotels are planned for another district, with their own stretch of private beach. Tourists can stock up on Boracay souvenirs or partake of the freshest seafood for dinner at the Shophouse district. Adjacent to this is Newcoast Village, targeted for a select Boracay Newcoast Village is the first and only exclusive few who intend to make Boracay their second home, just as subdivision to rise in Boracay Island. Santorini’s villas have sheltered families across generations. Boracay Newcoast Village is the first and only subdivision to The tycoon is looking at making Boracay a more vibrant be offered in the island. place that will attract even more tourists with the soft launch The final cluster is perhaps the most prized, as the area adjacent of Boracay Newcoast. This is his first venture into island to the international hotels is reserved for exclusive ocean villas. tourism estates, under Global-Estate Resorts Inc. (GERI). This cluster rests beside Hole No. 1 of Boracay’s only golf “Just as Santorini has offered tourists choices from boutique club, Fairways & Bluewater, an 18-hole Graham Marsh par-72 hotels to luxury hotel suites, I envision Boracay Newcoast championship golf course with a spa center and nature farm. as the latest, favored playground in Boracay Island, offering Tan is “extremely excited” for his new island project. With a tourists a variety of lodging choices and leisure options. With focused master plan for Boracay Newcoast to be implemented tourist arrivals projected to go up as Boracay becomes an in the next few years, he hopes that tourists will “find their stay even more popular beach destination worldwide, we at AGI in Boracay truly memorable and come back to the Philippines and GERI will help boost Boracay’s employment numbers for the holidays.” REW and family incomes,” Tan declared. Boracay Newcoast is the first and only master Boracay Newcoast will bolster Boracay as an international tourist destination by offering planned, tourism-oriented community spanning 1,500 new hotel suites across four international hotel brands and one local hotel chain. The tourist estate also boasts of its own 1-km stretch of private beach. 14% of the island. Tan envisions seven clusters within Boracay Newcoast that will further boost the island as a tourism destination and thereby expedite employment numbers. The hotel cluster, with its four international hotel brands and one local hotel, will offer tourists splendid accommodations in 1,500 new hotel REAL ESTATE WORLD │ 29
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DEVELOPED ECONOMY OF
SINGAPORE
T
he history of the City State Republic of Singapore began when it gained its independence as a republic following an ejection from Malaysia on August 9 1965. After the separation, the fledgling nation had to become self-sufficient, and faced problems including mass unemployment, housing shortages and lack of land and natural resources such as petroleum. During Lee Kuan Yew’s term as prime minister from 1959 to 1990, his administration curbed unemployment, raised the standard of living and implemented a large-scale public housing programme. The country’s economic infrastructure was developed, racial tension was eliminated and an independent national defense system was created. Singapore evolved from a developing nation to first world status towards the end of the 20th century. 32 │REAL ESTATE WORLD
Singapore together with Hong kong, Taiwan and South Korea became The Four Asian Tigers or Asian Dragons it is a term used in reference to the highly developed economies. These nations and areas were notable for maintaining exceptionally high growth rates (in excess of seven percent a year) and rapid industrialization between the early 1960’s and 1990’s. By the 21st century, all four have developed into advanced and high-income economies, specializing in areas of competitive advantage. For example, Hong Kong and Singapore have become world-leading international financial centers, whereas South Korea and Taiwan are world leaders in manufacturing and information technology. Their economic success stories have served as role models for many developing countries especially the Tiger Cub Economies. In 1990, Goh Chok Tong succeeded Lee as Prime Minister. During his tenure, the country tackled the economic impacts of the 1997 Asian financial crisis and the 2003 SARS outbreak, as well as terrorist threats posed by the Jemaah Islamiah (JI) post– September 11 and Bali bombings. In 2004, Lee Hsien Loong, the eldest son of Lee Kuan Yew, became the third prime minister.
Independence of Singapore Singapore became part of Malaysia on September 16 1963, following a merger with Malaya, Sabah, and Sarawak. The merger was thought to benefit the economy by creating a common, free market, and to improve Singapore’s internal security. However, it was an uneasy union. Disputes between the state government of Singapore and the federal government occurred on different issues, especially the federal policies of affirmative action, which granted special privileges to Malays guaranteed under Article 153 of the Constitution of Malaysia. Singapore’s chief minister, Lee Kuan Yew, and other political leaders began advocating for equal treatment of all races in Malaysia, with a rallying cry of “Malaysian Malaysia! Racial tensions between Chinese and Malays increased dramatically resulting in numerous racial riots. The most notorious riots were the 1964 Race Riots that first took place on the Prophet Muhammad’s birthday on July 21 with 23 people killed and hundreds injured. The price of food skyrocketed when the transport system was disrupted during the unrest, causing further hardship for the people. The state and federal governments also had conflicts on the economic front. UMNO leaders feared that the economic dominance of Singapore would inevitably shift political power away from Kuala Lumpur. Despite an earlier agreement to establish a common market, Singapore continued to face restrictions when trading with the rest of Malaysia. In retaliation, Singapore refused to provide Sabah and Sarawak the full extent of the loans previously agreed on for economic development of the two eastern states. The situation escalated to such intensity that talks soon broke down and abusive speeches and writings became rife on both sides. UMNO extremists called for the arrest of Lee Kuan Yew. Seeing no alternative to avoid further bloodshed, the Malaysian Prime Minister Tunku Abdul Rahman decided to expel Singapore from the federation. The Parliament of Malaysia voted 126-0 in favor of the expulsion on August 9 1965. On that day, a tearful Lee Kuan Yew announced on a televised press conference that Singapore was a sovereign, independent nation. In a widely remembered quote, he uttered that:
“For me, it is a moment of anguish. All my life, my whole adult life, I have believed in the merger and unity of the two territories.” Lee Kuan Yew
Solutions to Economic Problems After gaining independence in 1965 to 1979, Singapore sensed the need for immediate international recognition of its sovereignty. The Konfrontasi was ongoing and some UMNO factions strongly opposed the separation; Singapore faced the danger of being attacked by Indonesian military or forcibly reabsorbed into Malaysia on disadvantageous terms. With the support of the Malaysian, British and New Zealand governments, Singapore became a member of the United Nations on September 21 1965, and the Commonwealth in October that year. A new foreign ministry was established and was headed by Sinnatham by Rajaratnam who helped assert Singapore’s independence and established diplomatic relations with other countries. The participation in international organizations also helped boost trade through cooperation. Singapore later co-founded the ASEAN on 8 August 1967 joined the Non-Aligned Movement in 1970, and later the World Trade Organization. The Esplanade
Sentosa
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As a tiny island, Singapore was seen as a nonviable nation state, much of the international media was skeptical of prospects for Singapore’s survival. Besides the issue of sovereignty, the pressing problems were unemployment, housing, education, lack of natural resources and lack of land. The unemployment rate ranged between 10-12 percent. Singapore had no solid traditional sources of income. A large portion of the population lacked formal education, even when this statistic counted Chinese schools which the British did not recognize. Entrepot trade, the main use of Singapore’s port and the original reason for Singapore’s success in the 19th century, was no longer Lee Hsien Loong sufficient to support the large population. The Economic Development Board was set up in 1961 by Goh Keng Swee, and with the assistance of Dutch economic advisor Dr. Albert Winsemius, national economic strategies were formulated to promote Singapore’s manufacturing sector. Industrial estates were set up and government ministers toured the world in order to try to attract foreign investment. The government offered new investors tax holidays of 5–10 years. Singapore’s port gave her an advantage over her neighboring countries, being a favorable spot for efficient exports of refined goods and imports of raw material. This meant that industries in Singapore found international markets easily, and cheaper prices for raw goods. Singapore’s growing industrialization meant that entrepot trade had been extended into processing of imported raw materials into exported finished products. The service industry also grew at this time, sparked by demand for services by ships calling at the port and increasing commerce. With Winsemius’s help, Singapore attracted big oil companies like Shell and Esso to establish oil refineries in Singapore which became the third largest oil-refining centre in the world by the mid-1970’s. The new direction that Singapore took demanded a skilled labor force to engage in her revised role of refining raw goods.
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Its leaders decided early on that the population would need to be fluent in the English language, and English was adopted as the medium of education for all schools. The education system was designed with emphasis on practical, applications, such as technical sciences. Around one-fifth of Singapore’s budget, was devoted to education to facilitate a large and competent workforce upon graduation. Presently the government of Singapore maintains it at this level. There was a lack of good housing and a proliferation of squatter settlements. The Housing Development Board that was set up before the independence continued to be largely successful under Lim Kim San. Huge building projects sprang up to provide cheap, affordable public housing to resettle the squatters, hence removing a serious social problem. twenty five thousand apartments were built in the first two years. It was remarkable that, within a decade, majority of the population had been housed in HDB apartments. Possible explanations for the otherwise seemingly impossible success were the determination of the government, the large budget allocations, and efforts to eliminate red tape and corruption which gradually increased home ownership in Singapore. In order to resolve racial tension, a policy to create national identity through education in schools and flag raising and lowering ceremonies was implemented. This is constantly reemphasized within the curriculum and “National Education,” a compulsory program of which the main goal is to inculcate students with a sense of “national fraternity.” The Singapore National Pledge, written by Sinnatham by Rajaratnam, was introduced in 1966 emphasizing unity among the people “regardless of race, language or religion.” The system of justice and law in Singapore was reformed. Singapore took the step of nationalizing companies that would not survive on their own. Singapore Power, Public Utilities
One of the Workers’ Party demonstration rallies, this particular one at Serangoon Stadium. The opposition rallies were known for having a large turnout.
Board, Singapore Telecommunications (SingTel) and Singapore Airlines (SIA) are prominent examples. The extension of power infrastructure, for example, led to an increased attraction of foreign investors. Recently, the government has taken steps to privatize these previous monopolies- SingTel and Singapore Airlines are now publicly listed, limited liability companies, even though the government still holds.
Chok Tong, who presented a more open and consultative style of leadership as the country continued to modernize. In 1997, Singapore experienced the effect of the Asian financial crisis and tough measures, such as cuts in the CPF contribution were implemented.
The other major issue that was majority of the shares brought up around this time was national defense. Following independence, the British were still defending Singapore, but had announced they would be withdrawing by 1971. This caused considerable alarm locally. In 1965, Goh Keng Swee became Minister for Interior and Defense, and initiated the formation of a national defense force, called the Singapore Armed Forces. Singapore consulted international experts from West Germany and Israel to train their armed forces and equip them. As a small country surrounded by larger neighbors, Singapore allocated a large portion of its budget, around 19 percent, to defense and this still continues today, having the fourth largest per capita millitary expenditure in the world, after Israel, United State’s and Kuwait.
In the first few years of the 21st century, Singapore went through some of its most serious post-war crises, including the SARS outbreak in 2003 and the threat of terrorism. Meanwhile, the economy was affected marginally during the crisis, and in 2003, the average monthly household income was SGD$4,870.
The 1980’s to 1990’s Further economic success continued through the 1980’s onwards growth averaging at about 8 percent during this time until 1999. Singapore Changi Airport was opened in 1981. The development of air transport meant further extension of entrepot trade as well as its intended purpose of attracting investors through a convenient way to enter and leave the country. In conjunction with Singapore Airlines, for example, the hospitality industry grew immensely, which led to growth in the tourism industry. The Housing Development Board continued to promote public housing. With continuous strong economic growth, Singapore became one of the world’s most prosperous countries, with strong international trading links, its port is one of the world’s busiest and with a per capita GDP above that of the leading nations of Western Europe. The education budget remains at one fifth or more, and many of its practices, such as racial harmony, continue today. In 1990, Lee Kuan Yew passed the reins to successor Goh Singapore Casino
2003 to Present
In 2004, Lee Hsien Loong, the eldest son of Lee Kuan Yew, became the third prime minister of Singapore. A number of national policy changes have been proposed and carried out since then. One of these changes was the reduction of National Service training requirements from two and a half years to two during 2005. The government also introduced a “Cutting Red Tape” program, which allowed citizens to share their views on law, punishment, social and world issues. The general election of 2006 has been considered by analysts to be a landmark election in the history of Singapore, because of the heavy use of the Internet and blogging that covered the election, which escaped government regulation. Just before the election, on May 1 2006, the government issued a cash bonus, called the “progress package” to all adult citizens, worth SGD $2.6 billion. The PAP returned to power in the election winning 82 out of 84 seats, and 66 percent of the votes. Mr. Lee Hsien Loong is the present Prime Minister of the Republic of Singapore. The Constitution provides for the organs of state, namely, the Executive (Cabinet), the Legislature and the Judiciary. The President, as the Head of State, appoints the Prime Minister and the other Cabinet members from among the elected Members of Parliament. The Prime Minister leads the Cabinet in the administration of the Government. The Cabinet is responsible for all Government policies and the day-to-day administration of affairs of the state. It is responsible collectively to Parliament. AVJ-RE W Top view of Bukit Batok West. Large-scale public housing development program has created high housing ownership among the population.
REAL ESTATE WORLD │ 35
Best Fortunes for 2012
W
ater Dragon was considered this year, 2012. On the readings of element relationship and stars from the chart of path chee, our year 2012 will become life transforming or shifting year. In general, a lot of goodies or luck will be waiting for this year rather than the previous year, 2011. This is an excellent year for improvement, thinking of investments and of building wealth. This year is holding to much hope and become a life-changing state for you. If it comes out very good and or be very bad depends on yourself riding this powerful dragon. If you would like to become really successful with your business or profession you can appreciate this charm known as Star of Powerful mentors. The star will bring fortunes coming from prestigious individuals who will give you their support, recognition and help propelling your career life from good – great or poor – excellent. You must place Kwan Kung’s statue at the northwestern corner andor front portion of your house for the activation of mentor’s luck. The phoenix (being the rooster), dragon and tiger appear on the pattern of 2012 for influences. The three out of four animals, the only missing animal will be tortoise. For completion of the energy as well as get the perfect form of school of Feng shui, a perfect idea will be by adding up a figurine of Dragon tortoise for an excellent Feng Shui this year. 36 │REAL ESTATE WORLD
Furniture of wealthy ship becomes an excellent vehicle of riches and fortune. If displayed at your house it will symbolizlong voyages that will prove productive and produce lots of magnificent treasures to the ships harbor within your home. Display this ship filled with crystals, coins and gold metals, it needs to face the direction of your own Sheng Chi. The materials that this ship had been crafted must be looked at, wooden ships will belong at the East or Southeast, metal ship belongs at the Northwest or West, then ships made of crystal needs to be positioned at Southwest or Northeast. While a three-legged frog carrying coins in the mouth becomes a potential attractor of wealth in your house and family. For good fortune just use three,six,nine groups of frogs at any area of your room, diagonally fronting your house main door and the sides. You may choose to display these frogs in pair, the first frog face outward (it collects money outside your house) the second frog facing inward (it draws money to your household.) The frog is placed at any area of the house, in secret and discreet places of the house, but never in your bedroom. For the enjoyment of the year 2012 it’s really vital to take note, negative forces need to be on hold under your control. Building up your self confidence, strengthen your innermost strength assisted by spiritual exercise and embrace your own life entity, while luck on wealth as well as success in your goals come naturally. RE W
The Four Asian Tigers HONGKONG
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SINGAPORE
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TA I W A N
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SOUTH KOREA
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he Four Asian Tigers or Asian Dragons is a term used in reference to the highly developed economies of Hong Kong, Singapore, South Korea and Taiwan. These nations and areas were notable for maintaining exceptionally high growth rates (in excess of 7 percent a year) and rapid industrialization between the early 1960’s and 1990’s. By the 21st century, all four have developed into advanced and
high-income economies, specializing in areas of competitive advantage. For example, Hong Kong and Singapore have become world-leading international financial centers, whereas South Korea and Taiwan are world leaders in manufacturing information technology. Their economic success stories have served as role models for many developing especially the Tiger Cub Economies. The tigers experienced decades of supercharged growth based largely on industrial policies supporting exports to rich, industrialized nations. A World Bank report generally credited neo-liberal policies with the responsibility of the boom, including maintenance of export-led trade regimes though it acknowledged some benefits from policies of ‘financial repression,’ such as state-imposed below-market interest rates
KORE
for loans to specific exporting industries. Various institutional analysts criticized the bank for overlooking a range of other state policies that facilitated growth, was that do not fit the tenets of neo-liberalism. (Blackwell, 2009). All the same, these economies enjoyed extremely high growth rates sustained over decades. Other common characteristics of the tigers included heavy government investment in education, non-democratic and relatively authoritarian political systems during the early years of development, high levels of U.S. bond holdings, and high public and private savings rates.
The first major setback experienced by the tiger economies was the 1997 Asian financial crisis. While Singapore and Taiwan were relatively unscathed, South Korea underwent a major stock market crash brought on by high levels of nonperforming corporate loans, while Hong kong came under intense speculative attacks against its stock market and currency necessitating unprecedented market interventions by the Hong kong Monetary Authority. In the years after the crisis, all four economies rebounded strongly. South Korea, the worst-hit of the tigers, has managed to triple its per capita GDP in dollar terms since 1997. AVJ-REW REAL ESTATE WORLD │ 37
THE LAUNCH
CHINESE REAL ESTATE J
FIRM SETS LANDMARK
ust recently, a newly formed real estate company, Zhong Fa Development, Inc., has officially launched its flagship residential project in Metro-Manila called OCEANAIRE, billed as “Manila’s Treasure By The Bay”, a four-tower structure with 17 stories per tower, where hotel suites, residences and commercial spaces are integrated into a luxurious place. A ceremonial ribboncutting took place last November 25, 2011 at Oceanaire Showroom located at the project site, Macapagal Avenue corner Coral Way, Mall of Asia Complex, Pasay City, headed by (from left to right) Wang Gui Ping, President of Zhong Fa Development; Dr. Francis Chua, President of FCCC; Wu Zheng Pin, Head of Economic Division PROC Consulate; Ms. Yuk Yin T. Garcia, Head of Philippine-China Cooperative; Jun Evangelista Cua, Governor of Quirino Province; Honorable Antonio G. Calixto, Mayor of Pasay City; Ge Jian Quan, General Manager of Zhong Fa Development and Dr. Alfonso G. Siy, Vice President of FCCC. For more inquires please call 552-1718 or 5521719 or log on to www.zfdi.co or visit our showroom at Road 23 corner Road 11, Central Business Park 1, Pasay City, Metro Manila.
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REAL ESTATE WORLD │ 39
Vicente R. Ayllón: The Paragon of a Patriarch Behind Insular Life
N
ot too many corporations in the country can lay claim to being on the cusp of a century. It has certainly helped that its Chairman of the Board and Chief Executive Officer Vicente R. Ayllón, who joined the company when he was but 24 years old and Insular Life still had its building on Escolta, has devoted 56 years of his life to this distinguished institution. His first job was as a junior clerk, higher only than being a messenger. He thus learned the ropes the hard way, rising to become a senior clerk, then a supervisor. Hitting his stride while handling group insurance, in charge of attractive large companies such as Shell, Caltex, and Philippine Manufacturing Company or PMC, he was rewarded with a promotion. to assistant manager When the company opened an office in Barcelona, he was asked to go along with two other Spanish-speaking executives. After all, he had studied under the Spanish Dominicans at Letran, and spoke Spanish with his mother at home.
40 │REAL ESTATE WORLD
In 1977, he became Insular Life president. Ten years later, Insular Life mutualized under the presidency of the man who is credited for having created the Greenbelt in Makati, opened up Buendia Avenue, sold the last properties on Legaspi Village, and put up Salcedo Village. It became a mutual company, no longer part of the Ayala Group. Since then, it has continued to grow from strength to strength. Now Ting fondly looks back and says, “While the Insular Life of today is very much different from the Insular Life that I joined more than 50 years ago, it has kept the timeless values that guided our forefathers in the company. We encapsulated these into what we call our four core values: commitment to excellence, integrity in work, respect for the individual, and upliftment of the Filipino.” This captain of industry who has steered the company through good and bad weather well into the 21st century adds that Insular has learned many valuable lessons in the course of its corporate life. “We of the current generation of employees owe a lot to those who came before us, who handed from one generation of employees and agents to another the values of integrity, prudence, word of honor and hard work. We try to maintain a quality of life for our people within the work area and in their respective family lives, even as we impose high standards for ourselves and the company. “We are far from perfect, but through all the challenges, we are able to rise and move forward, because we keep our focus fixed on whatever is good and fair for our policyholders and the public. Prudent
and fundamentally sound investment policies, firm underwriting guidelines, and strong actuarial basis have always been the foundation of Insular Life’s management practice. And all these translate to a strong and stable financial position with assets amounting to P72 billion, and net income of P2.6 billion in 2010.” Insular Life is one of the few Filipino corporations to knock on the doors of a century-mark milestone, while remaining to be the largest and most trusted Filipino life insurance company in the country. “In the Philippines , life insurance continues to be a product that is not bought; it must be sold. And to sell life insurance, you need professionally licensed life insurance agents to assess your financial needs and provide you with the best sound advice based on your needs. Thus, the agency system is still the biggest channel by which our products are sold.We channel our resources toward activities that will increase the capacity of our sales agents to sell more policies, and that would be in the areas of training, motivational drives and sales support. Yet, we cannot discount the power of media especially the new forms of social media, and therefore we shall be making our presence felt in these media through very select and targeted advertising. For 101 years now Insular Life has been securing Filipino families financially. Noting that 2010 was a good year for the life insurance industry, the chief executive expressed confidence that 2011 will be an even better year as they are expecting to exceed their 2011 targets once again. Our company will continue to be a prime mover and major leader in life insurance,” he declared. AVJ-RE W
Insular Life Chairman of the Board and CEO Vicente R. Ayllón (4th from left) receives the Top Award for Communication Skills given to the Insular centennial coffee table book, 1910-2010: The Century Past, A Century Forward (2010). Receiving the award with him are the book’s writer and editor Joan Orendain (3rd from left), project lead, Insular Senior AVP Ana Maria R. Soriano (5th from left), and Roy Reyes, representing the book’s researcher Crispina Reyes. With them are (from left) IABC Philippines Chairman Elpi Cuna, Jr.; IABC Phils. Vice President and Awards Head Ritzi Villarico Ronquillo; IABC Philippines President Carmencita G. Arce; and IABC International Executive Board Chair Adrian Cropley, ABC.
T
aguig City is emerging as one of the country’s fast growing local economies.
The efforts of Mayor Lani Cayetano in combating corruption and providing business-friendly initiatives have proven to be positive indicators, paving the way for Taguig City to be recognized even in the international business community as the best city in Metro Manila to start a business. Based on a study entitled “Doing Business in the Philippines 2011,” commissioned by the International Finance Corporation (IFC), the World Bank (WB) and the Asian Institute of Management (AIM)-Policy Center, Taguig City was in fact hailed as the third best city (national level) among businessfriendly cities in the Philippines.
was the Transaction Tracking System (TTS), which is used in monitoring business-related transactions and internal transactions. This system is now being used by the Business Permit Licensing Office, Local Building Office, City Planning and Development Office and Assessor’s Office. With the help of a Tracker Action Slip, the TTS is able to track the movement of each document from one station to the next, indicating the actual time of receipt and release of each station.
CITY HALL OF TAGUIG
“Taguig’s high ranking in the 2011 report is an undeniable proof that we have not only overcome the challenges that are usually encountered by a new administration, but that we have also flourished in the process,” Mayor Lani said Mayor Lani added that she was proud and thankful that the international agencies have recognized the reforms initiated by the Cayetano administration, especially in providing faster transactions in doing business, to ensure that Taguig City is business-friendly and a healthy place to live in. In the study, Taguig was notably ranked ahead of neighbor cities Pasay (10th), Parañaque (19th), Makati (20th), Muntinlupa (22nd) and Las Piñas (24th). General Santos placed first, according to the report, while Davao came in second place. Taguig was also given high marks for other indicators such as “Dealing with construction permits,” (2nd) and “Registering property,” (6th). Mayor Lani, who assumed the city’s top post in July 2010, immediately implemented programs and reforms that sought to benefit the two sectors that are most crucial to the progress of any local government unit—investors and taxpayers. Among the first programs imposed by the Cayetano administration 44 │REAL ESTATE WORLD
“Putting up the system is meant to eradicate red tape, under-thetable transactions and other forms of corruption,” the 30-year-old mayor said. Last year, Mayor Lani inaugurated the Business One-Stop Shop (BOSS) program, a mechanism designed to provide an overall better service and experience by placing all local government offices in a single location for easier and faster transactions. The program also ensured that business permits were released the day they were applied. Overall, it also yielded higher tax collections for the city, compared to tax earnings of the past administration. The BOSS program earned positive feedback from taxpayers as they no longer had to queue for long hours at the City Hall. Aside from this convenience, taxpayers are also given free snacks, drinks and even entertainment while they waited for their permits to be processed. Preserving peace and order Maintaining peace and order and strengthening the capability of authorities in Taguig City are crucial in improving the business environment in the city. Improving the crime-fighting abilities of local police officers, Mayor Lani pointed out, it is important to increase the degree of optimism among investors. As part of her anti-crime effort, the mayor donated 13 brand new patrol vehicles (Isuzu pickups) to the Taguig City Police Station earlier this year. The purchase of the patrol vehicles
was prioritized despite the shortage of vehicles by the city government. And as such, Mayor Lani was awarded the “Best Among The Best Practices Award,” by the Philippine National Police for her anti-crime crusade.
Cinemanila back in Taguig!
It can be recalled that upon sitting as the city mayor, she found out that her predecessor gave away almost 300 city vehicles during his last days in office, leaving the city hall with hardly any vehicle to use. Atty. Darwin Icay, the mayor’s spokesperson, said such effort of the previous city administration was purely an attempt to harass and embarrass the then newly-elected lady mayor. “But Mayor Lani is a woman of belief. Instead of sulking in ill feelings against her predecessor, she took it as a challenge to give the city better service and better foundation for development. And she knows that with God’s providence, she can give this to the people of Taguig,” Atty. Icay stressed. In fact, he added, Mayor Lani saw to it that Taguig will still emerge as a major player by empowering the sectors that help in the city’s progress. Mayor Lani likewise promised that programs on good governance are being outlined and anti-corruption measures in place to guarantee that Taguig City will become the next business destination not just in the Philippines but for the rest of Asia. AVJ-REW
T
aguig City Mayor Lani Cayetano and film director Tikoy Aguiluz, founder of Cinemanila film festival signed the Memorandum of Agreement to have Taguig as last year’s host for Cinemanila International Film Festival held on November 11 to 17 at Market! Market! Cinemas. Mayor Lani said that the City Government’s partnership with Cinemanila Foundation emphasized the importance of arts and culture in any community and showed her genuine concern for Filipino artists.
The establishment of a One-Stop Shop fostering warm relations with the city’s business sector this year, the Taguig City government rolled out a One-Stop Shop for securing permits and licenses which started last January 03, 2011.
REAL ESTATE WORLD │ 45
the Mind Museum in BGC Taguig City Joel Garduce
M
uch drawn out as the Filipino New Year’s season is, it’s easy to get well-beaten by the season’s grind and be drowned by the hypercommercialism especially in the beginning of the year. Is there nothing new this year for Filipino families to do that’s bereft of the usual contrived commerce-driven cheer? The answer is a resounding Yes. There’s one sure new, fun, cool thing families can look forward to this year: the launch of The Mind Museum at Bonifacio Global City (BGC) in Taguig City, Metro Manila! The Mind Museum is the one you’ve likely heard of but no one hasn’t gone to at all. That’s because it’ll just open its doors this yearend. It’s billed as the Philippines’ firstever world-class science museum. Yes, we’ve had similarlythemed museums, like the ones in the Mall of Asia in Pasay City, Marikina City and a part of the Museong Pambata along Roxas Boulevard in the city of Manila. But The Mind Museum dares to take the national state of science museums to a whole new exciting level.
It starts with the building itself. If you didn’t know any better, you can easily mistakcanly identify the sleek silvery structure
for something from outer space or even from the distant future. The ultramodern design actually finds its inspiration from molecular and cellular forms found in nature. Credit that to the imaginative minds at the architectural firm Lor Calma & Partners. Then there’s the cost and size. It’s the first billion-peso museum in our history. A project of the Bonifacio Art Foundation (BAF), this non-commercial structure sits on a big chunk of prime real estate at the center of the country’s rising business and commercial center, Bonifacio Global City. We’re talking of an outdoor space of 6,935 sq.m (including 800 sq.m. for the enclosed Science-in-the-Park area) and a total covered floor area of 7,595 sq.m. That’s not accidental, that’s urban planning savvy for you. And don’t worry, the billion pesos all came from private donations. Apart from hefty corporate donors, the BAF proponents also actively sought donations from individuals through the website themindmuseum.org and events aimed at giving a preview of the wonders it’ll behold. Then, yes, it gets better, what with what will be inside. With two levels, visitors will be witnesses to a mind-boggling state-of-the-art design featuring not just one or two, but five main galleries with
Joel Garduce is the current auditor of the Philippine Science High School National Alumni Association (PSHSNAA).
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THE FOLLOWING ENGAGING THEMES: ●The Story of the Universe: Its Beginning and Majesty ●The Story of the Earth: Its Story Across the Breadth of Time ●The Story of Life: The Exuberant Varieties of Life ●The Story of the Atom: The Strange World of the Very Small; and ●The Story of Technology: The Showcase of Human Ingenu
4. 5. 6.
As if these are not enough, the museum visitors will also be 7. regaled with the Ten Most Beautiful Experiments in Science gallery, a Hall of Philippine Science gallery, and a gallery for traveling exhibitions. About fifty designers and resource scientists and five years’ hard work comprised the brainware behind the more than 250 interactive “mindson” and hands-on exhibits that will be shown. The people behind The Mind Museum have held a series of preview events not just to stir up curiosity and call for donations, but also provide a venue where their target museum visitors can give vital feedback, comments and suggestions on how to improve the exhibits that made their formal debut last December. These include the Minds at Work events and the Café Scientifiqué series held during the past months at the NBC Tent and other venues of note in BGC.
the moment just before the Dinosaur Era ends; a Creature Heads exhibit, where you can fit your head inside that of a giant insect to see how that insect views the world through its eyes; a Sound of Space exhibit where one can listen to what objects in outer space sound like, thanks to NASA recordings; gaze at a simulated night sky or view films while lying down on memory foam; and an elliptical pool table where you place balls on two marked foci on the table, and you aim one ball towards the other, it’s always a guaranteed hit.
Amid all these mouth-gaping previews, it would be quite interesting how The Mind Museum will actually engage curious minds of a generation quite exposed in their young lives to films in 3-D and with special effects galore, The Discovery and National Geographic Channels, documentary DVDs, and multimedia programs both online and offline on computers and i-Gadgets. For now though, the glimpses we’ve been given are enough for us to paraphrase that Forrest Gump’s bit about life and a box of chocolates: you’ll never know how much fun you’re going to get until the Mind Museum opens this year.
Indeed, The Mind Museum will be a much-welcome different kind of treat as well for BGC denizens—be the call center employee plugging away at her Net building office, the Market! Market! stall regular, the Bonifacio High Among the features guests had a chance to test-drive were Street habitué, the health worker helping save lives at St. Luke’s Medical Center, or the retiree who invested on and resides at 1. an actual model of the first printing press invented more than three hundred years ago by the German Johannes Gutenberg; one of the well-located condos near Burgos Circle—who’ll find one more cool reason to say they’ve never been in a 2. a Van de Graaff sphere showing static electricity at work; 3. a stationary scale-model Mass Extinctions diorama depicting better place. REW
R EAL ESTATE TRUSTED TRADE REFERENCE WITH A GLOBAL REACH
WORLD
CONDO GURU
CONDO 101
C
ondominium developments are now rising all over Metro Manila and the key cities in the Philippines. Some people who are not familiar on the terminologies can use this column for reference. CONDOMINIUM - this is an interest in real
estate consisting of absolute ownership of a unit of residential, commercial or industrial building and common ownership of the land, common areas amenities and facilities of the condominium project.
CONDOMINIUM DEVELOPMENT PROJECT – it is the totality of the site, the land, the condominium units, the common area, the amenities and facilities. The owner of the development project is normally known as the developer.
RENNE ISIDRO Realtor
CONDOMINIUM UNIT – this is the space encompassed by the interior surface of the floor, ceilings, walls and exterior doors and window which can be sold or rented by the owner or the developer.
COMMON AREA – refers to the weight walls,
columns and beams, hallways, stairways, bells, elevators, etc. including the electrical, water and plumbing systems, facilities and amenities of a condominium project.
MASTER DEED OF RESTRICTIONS- this
is the enabling act of any condominium project. This enables the condominium to exist and govern its existence. This also lays down the provision of rules and regultions which the unit owners should comply with pertaining to insurance coverage, the management , maintenance cost and assessments and audits and others.
ARTICLES OF INCORPORATION AND BY LAWS - these are the registered documents with the Securities and Exchange Commission of the condominium corporation and its corporate rules and regulations and compliances.
-Affordability is enhanced -Land use is maximized -Cheaper to maintain -Exclusive ownership of the unit with co-ownership of the undivided common areas, facilities and amenities. -Better security -Community ties
RIGHTS OF UNIT OWNER
-Absolute ownership of the unit -Co-ownership of the land and common area -Sell, Lease or mortgage the unit -Voting right in meeting of the condominium corporation or homeowners association
OBLIGATIONS OF UNIT OWNER
-Pay the realty tax of his unit -Share in the realty tax of common areas -Pay for the insurance of his unit -Share in the insurance of the common areas -Comply with the deed of restrictions -Pay the condominium dues and assessments in accordance with the association rules and regulations -Give the “Right of First Refusal” if required by the Master Deed.
CONDOMINIUM LAW
RULES AND REGULATIONS - these are the
Condominium had its formal birth in the Philippines with the passage by Congress on June 16, 1560 on the Republic Act No. 4726 entitled “An Act to Define Condominiums, Establish Requirements for its creation and Govern its incidence.”
CONDOMINIUM CORPORATION - This is
In 1977, the condominium act was embraced by Presidential Decree 957 (Regulating the Sale of Subdivision Lots and Condominiums,’ Providing Penalties for Violations Thereof)
written compliances that regulate the do's and don't's of unit owners and tenants normally formulated by the homeowners association or the property management department or outsorce company.
a corporation formation consisting of all the owners of the units or the homeowners upon the turn-over of the project to the association of owners. It holds the land and manage the property upon turn-over.
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ADVANTAGES OF CONDOMINIUM OWNERSHIP
For more details and queries regarding condominiums you may email onerenne@gmail.com.
HIGH END
LUXURY LUXURY
CONDOMINIUMS SHANG GRAND
ROCKWELL
LOCATION: Rockwell Bel-Air, Makati RENTAL 2 BR - Php 60K - Php100K 3 BR - Php100K - Php180K RESALE: 2 BR - Php16M - 24M 3 BR - Php20M - Php36M PENTHOUSE UNIT: Php50M
LOCATION: Legaspi Village, Makati RENTALS: RESALE:
2 BR – Php100 – Php130 3BR- Php180K 2BR – Php18M- 20M 3BR – Php26M – Php34M
THE RESIDENCE AT GREENBELT
THE FORT
CONDOMINIUMS
LOCATION: Legaspi Village, Makati RENTALS: 2 BR – Php100 – Php140K 3BR- Php160k- Php220K RESALE: 2BR – Php15M- 20M 3BR – Php26M – Php36M PENTHOUSE UNIT: Php52M
LOCATION: The Fort Global City RENTALS: 2 BR – Php60 – Php120K 3BR- Php80k- Php180K RESALE: 2BR – Php12M- 20M 3BR – Php16M – Php36M PENTHOUSE UNIT: Php36M
FOR MORE INFORMAtion please contact onerenne@gmail.com or call 828-3333 cell no. 0917-433-6484 REAL ESTATE WORLD │ 49
BURGEONING REAL ESTATE
MARKET FEARS HONGKONG OF PROPERTY BUBBLE Noel Paul Bernal
R
The sparkling Hong Kong skyline
ecent pronouncements from prominent figures in world economics portend of worse times just down the road for the global economy. One after another, newly-installed chief of the International Monetary Fund (IMF) Christine Lagarde, officials of the European Central Bank (ECB) and of the U.S. Treasury Department, and even U.S. Federal Reserve chair Ben Bernanke sounded off dire prognoses last October that the world is likely to see worse in the months ahead before it finds any better sights. These statements tend to send a shiver down the real estate industry across the world. Very recent memories of the 2008 meltdown are refreshed by these credible forecasts of looming gloom. Then, the U.S. housing market led the global real estate sector in taking a most dreadful nosedive following an unprecedented housing bubble that was unraveled to be at the heart of the megafiasco that triggered this century’s first global depression. These concerns hovered when the author visited Hong Kong recently and checked out the real estate sector there. A cursory overview shows that the Hong Kong property sector is experiencing a big boom since it floored in 2009. It’s among the strongest of the eight spots in Asia that have made it to the world’s top 20 markets, a big rise for the continent from half a decade ago. Abundant liquidity, low interest rates, and strong latent demand for housing pushed prices up across all property categories, namely the mass residential, luxury residential, office market, and retail market sectors. Nonetheless, recent experiences specially of the U.S. housing market have prompted government officials to take some preventive steps to try to preempt a needless hyperbubble.
Galloping luxury market The apparent big upswing in the Hong Kong property market is propelled principally by the luxury segment. As mainland China proved among those least affected by the ongoing global economic crisis, the upper social crust of Chinese society has in fact accumulated more wealth and have been the market segment driving today’s deluxe property boom in the ex-British colony. Top corporate executives from the mainland, reemergent scions of the old elite, upper-crust public officials, families of Chinese Communist Party honchos, coupled with buyer investors from Japan, Russia, and other Asian countries, have been lapping up choice homes. They have joined the traditional upscale clients from multinational companies, the top 1% from mainly advanced capitalist countries like the U.S. and U.K., and the local Hong Kong elite. This has spurred Hong Kong’s residential property market into making one of the strongest comebacks in the global real estate scene the past two to three years. At the topmost billionaire’s homes market, Hong Kong is in 50 │REAL ESTATE WORLD
One of the choice residential properties for sale at the upscale The Peak in Hong Kong.
its own firmament in value terms with property worth HK$82,179 (US$10,604 or Php457,394) per square foot, a whopping 83% jump from late 2005 to late 2010, and a 10% increase on top of that by end of June 2011. An August acquisition illustrates this too well: an 839 square-foot upscale residence at Pollock’s Path on the The Peak fetched HK$800 million (US$102.72 million or Php 4.8 billion), coming out to a rate of HK$96,000 (US$12,387 or Php576,000) per square foot. Billionaires’ residences in Hong Kong may be pricier per square foot, but they are among the smallest globally though, at just over 5,000 square feet on average. Other luxury projects in the market that are a few rungs below the billionaires’ firmament sell at about HK$20,000 (US$2,570 or Php120,000) per square foot.
Not far behind: mass residential, office, and retail markets The mass market is also burgeoning, though it is increasingly lagging behind the luxury property market in price appreciation. Recorded figures show mass market housing prices jumped 73% since 2009. An indicator price level for this segment was the recent winning bid for the 3,300-unit housing project above West Rail Nam Chong station, which rounded out to HK$4,468 (US$573.67 or Php26,808) per square foot. The office market sector is likewise not to be outdone. A lot of multinational corporations that had held regional offices in HK are now steadily coming back to reestablish their foothold in this vital business hub of Asia cum key global financial center. The retail sector in the meantime was just given a megaboost with the US$2.4 billion (HK$ 18.6 billion or Php104 billion) sale of Festival Walk, the biggest retail real estate investment the island has recently attracted.
Actively averting the risk of a property bubble Looking at these trends, one might be tempted to discern an emerging property bubble in this capitalist enclave in East
An artistic view of the interior of Festival Walk, one of the major purchases in the Hong Kong retail sector this year.
Asia. That feared six-letter B-word has been on the crosshairs of recent policy pronouncements by Hong Kong officials, concerned that a sharp upswing in property prices at the high end was spilling over to the entire property market. Authorities are however constrained by the tight link of the Hong Kong dollar to the U.S. dollar through a currency board framework from employing interest rates to rein in speculation. They have therefore taken other macroprudential steps to tame the property boom. Four specific policy planks were recently laid out by John Tsang Chun-wah, Hong Kong’s Financial Secretary, as keys to bubble risk reduction: • Ensure that about 40,000 public and private units are available yearly by increasing land allotted for residential construction; • Curb speculation by raising stamp duty on high-end residences. An additional special stamp duty was imposed on residences resold within two years of acquisition late last year, amid concerns over the unimpeded trend of rising property prices; • Enact by next year sanctions against misleading sales information; and • Bring down banks’ loan-to-value mortgage ratio as a prudent lending measure. This has effected the decrease to 53% from 64% in 2010 of the average for new properties. The applied measures have so far appeared to stave off speculation, as fewer transactions were recorded the past months. Will these policies successfully prevent the overheating of one of Hong Kong’s main economy drivers? It would be instructive for observers and practitioners of real estate in this side of the world to keep tabs on the Hong Kong front to better gauge how the entire sector will perform in the somewhat jittery months to come. REW
This West Rail Nam Chong station will rise a 3,300-unit mass housing project. REAL ESTATE WORLD │ 51
RE & RE TANDEM
(Real Estate and Renewable Energy)
The German Reichstag, the greenest parliament building in the world, solely to relying on renewable energy.
R
eal Estate world spans from residential, commercial, industrial, agricultural, township, and new city/territory developments. A necessary lookout in real estate is as to how policy makers, builders, developers, master planners and urban planners can contribute to sustainable development considering social factors, carrying capacity and scarce resources. If not in a position to reverse the social gap, environmental degradation and non-renewable energy depletion, the tall challenge is to remediate adverse effects of current lopsidedness and to RE-think new ways and areas of development. In the Philippines, planning of towns called municipios brought about concentric plazas to the detriment of farm and remote areas. Eventually the major municipios evolved into cities which amalgamated into metropolitan urban centers, like Metro Manila, dotted with disparate and short-sighted private and public initiatives that led to congestion, pollution, flooding and lack of affordable decent housing. Such social maltreatment of the environment made green architecture and green living become the more desirable platform in many parts of the world with the growing use of green standards such as USA’s Leadership in Energy and Environmental Design (LEED), Philippines’ Building for Ecologically Responsive Design Excellence (BERDE), and UK’s Buildings Research Establishment’s Environmental Assessment Method (BREEAM). This sustainable development platform brings to the fore the tall urgency for another RE tagged as RENEWABLE ENERGY. Asian countries for their part are stepping up their renewable energy ventures to mitigate dire lack of power grid, clean water source, decent housing, and infrastructure. Ergo, may I share the highlights of the presentations at the Asia-Korea Renewable Energy Partnership Forum 2011 held last November 17-18 at the Rizal Ballroom of the Shangri-La Makati. Organizers included the Korea Trade-Investment Promotion Agency (KOTRA) and the Philippine Department of Energy 52 │REAL ESTATE WORLD
(DOE). The participating 11 Asian countries were Bangladesh, India, Indonesia, Malaysia, Pakistan, Philippines, Singapore, Sri-Lanka, Thailand, Vietnam and South Korea. A one-on-one meeting followed the Forum for project and partnership exploits for which my partner and I took the opportunity to meet with two companies providing solar technology for buildings, islands, and hotels. Here are snapshots from what I appreciated from the distinguished presenters. Korea’s RE Experiences and Drivers In Korea’s RE experience, government support pushed the establishment of small and medium enterprises (SMEs) and the creation of an industrial eco system synergizing SMEs and large companies, adding jobs, and creating new project promotions and integrated production structure. Among the top ten projects propelling intensive renewable energy growth are: 11,080 Green Schools using PV(?), solar and geothermal; 132 Green Islands harnessing wind, bio and geothermal; Green Highway, Green Power, Green Post, Green Port, Green Factory, Green Army, Green Logistics, and Green Industrial Complex. RE Policy includes: Public institutions to use new and RE, five percent at least of total construction cost. (Jungtae Park, Director RE Association, Republic of Korea) Philippine Criteria and Projects The Criteria for Energy Projects, Energy-Related Clean Development Mechanism (CDM) project should contribute to at least one of the following Energy goals: (1) Increase energy self-sufficiency through development and utilization of indigenous energy sources, accelerated development and use of RE and alternative fuels; (2) Wider access to reliable supply of electricity through the use of RE; (3) GHG emission through cleaner fuels, clean energy technologies, and energy efficiency. The Philippines ranked 9th with 54 (11 large scale and 43 small scale) registered CDM projects listed as of July 2011, 1.7% of the total 3,214 project activities with China, India, Brazil, leading the host countries.
This architectural brilliance called ‘Solar Ark’ built by Sanyo, Japan, housing solar labs with seminar and meeting rooms
In addition, the Philippines is ranking as the second largest geothermal producer in the world and aims to rank number one. To expand use of RE and reinforce the program on rural electrification, 30 islands are targeted to be energized using RE hybrid power systems. Moreover, 1,500 barangays are pipelined to be electrified using RE systems. The largest contributors to the total share of renewable energy in the energy mix with an average share of 27.5 percent are biomass, micro-hydro, solar and wind. To counter lack of financial and fiscal incentives, and high technology costs, the government intends “to stimulate greater private-led investments in the sector, promote RE technologies as competitive energy options and maximize the use of RE potentials.” (Mario Marasigan, Assistant Secretary, RE Management Bureau Department of Energy, Philippines) The RE Power Generation Capacity segmentation as of March 2011 Wind 70.9%, Small Hydro 15.2%, Biomass and WTE 13.7%, and Solar .2%. Ergo, I was fortunate to speak during tea time with K. Rajadurai, President of Indowind Energy Ltd., their company’s 15 years of experience in wind technology yielded advances in harnessing wind power from slow wind and at reduced costs. Enthusiastically N. C. Sharma, VP of Lohia Starlinger Ltd, quipped that any RE ventures should foremost benefit the people. Rajudarai added that in wind power several income streams can be generated that will benefit the people, government, investors and other stakeholders. (Rajeeva Srivastava, Senior Manager of Bharat Heavy Electricals Limited Indian Public Power Corp BHEL., a USD 8.7 Integrated power plant engineering and manufacturing enterprise) Thailand a Showcase of Multiple RE Ventures I chose to interview this presenter, Chairman Tinsuntisook, due to the Thai government’s resolve and private praxis to forward RE ventures. Thailand is a leader in RE in south east asia as manifested in its experience in policy frameworks and financial incentives, bourse of hundreds of RE projects implemented and thousands more being developed, and a robust private sector in RE technologies and services. RE Industry Club with over
ZUELLIG building, the first high-rise office in the Philippines awarded with a precertification at Gold level under the LEED Core and Shell.
100 company members, advisors and partners engage in seven commercial classifications, namely: Solar, Wind, Biogas, Biomass, Ethanol, Biodiesel and Waste to Energy. In the RE Strategy, the Industry Club exceeds the targets of the Ministry of Energy. Further, after what happened in Fukushima, Thailand dumped any plans for nuclear energy. India’s Solar Energy (SE) and RE Scenario A growth of 130% globally from < 8000 megawatts (MW) in 2009 to <17,000 MW2010 in Solar Energy (SE) installations. Mission target of 22,000 MW of solar power by 2022 with 20 million solar lighting systems in rural areas. Rapidly declining cost curves and tariff reduction would yield exponential growth. Presently USA and Germany lead the SE market but as costs decrease China and India can dominate. In most of India as tropical country, >five units per sqm per day compared to 3.15 unit in Germany, while in southwest India, best location for SE would yield 6.4 -6.6 kwh/sqm. There are evident favorable conditions for domestic manufacturing in RE and augmented with India’s policy and program support in R and D, financing, and technology. Main drivers of cost efficiency are: economies of scale, technological advancements and low-cost manufacturing locations. Chairman Tinsuntisook encouraged me to conduit RE developers/ investors to visit the various plants and projects for they can extend best assistance. Thailand has become a showcase of renewable energy and highly welcome partnerships. (Phichai Tinsuntisook, Chairman of RE Industry Club of the Federation of Thai Industries Club). The RE practitioners should now integrate optimal use and best practices of REnewable Energy in the development planning, construction and management to ensure full benefits for the present and future generations. MS. G-REW REAL ESTATE WORLD │ 53
RENOWNED National Parks
I Ms. Juliet H. Villegas
t will be very soon that the visitors of “the largest urban park in Asia,” Rizal Park will see more changes to arise as the National Parks Development Committee continuously strive to transform Rizal Park into a world-class urban park.
(NPDC)
“With our mission to offer the best recreational experience and socio cultural education for everyone, we have focused on several projects in “building back-better” Rizal Park Facilities and Improvements have been made on the Children’s Playground, Musical Dancing Fountain, Relief Map of the Philippines, Flower Clock, Noli Me Tangere Garden, and at the Light and Sound Complex,” Ms. Juliet H. Villegas, Executive Director of National Parks Development Committee (NPDC) The NPDC is the government agency in charge of the Rizal Park, Paco Park, Pook ni Maria Makiling Park in Laguna and Burnham Park in Baguio City.
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RIZAL PARK (Luneta in the City of Manila) Rizal Park is situated in the heart of the city of Manila, Philippines. It is at the northern end of Roxas Boulevard, overlooking Manila Bay. Rizal Park’s history began in the early 1800’s during the Spanish rule. While Manila’s social and business activities were confined within Intramuros, a small area just south of the walls was cleared to prevent sneak attacks from the patriotic natives. The area was shaped like a small moon (lunette) and thus was named Luneta. The Park was also called Bagumbayan (English: New Town) in Spanish colonial era, and later known as Luneta. Luneta has been the site of some of the most significant moments in Philippine history. Among them is the execution of Dr. José Rizal on December 30, 1896, whose martyred death made him a hero of the Philippine Revolution. (It was officially renamed Rizal Park in tribute to him.); the Declaration of Philippine Independence from American rule on June 4, 1946; and the political rallies of Ferdinand Marcos and Corazon Aquino in 1986. The site is guarded 24 hours a day, seven days a week by ceremonial soldiers, known as Kabalyeros de Rizal (lit. Knights of Rizal). His poem, "Mi Ultimo Adios" ("My Last Farewell") is inscribed on the memorial plaque. The bronze and granite Rizal monument has long been considered among the most famous sculptural landmarks in the country. Both statue and mausoleum of Dr. Jose P. Rizal are located near the very spot where he was executed. Considered as one of the largest parks in Southeast Asia, Rizal Park has an area of 58 hectares which runs from Taft Avenue up to the walls of the famous Manila Bay. It was known as the Bagumbayan field during the Spanish era since
this was where the Filipino-Moslems took refuge after the Spaniards occupied Intramuros in 1571. It was also called "Luneta," which means Little Moon. For 74 years, it was used as an execution ground by the Spaniards for Filipino rebels and mutineers. By 1902, Daniel Bumham, architect and city planner chose Bagumbayan as the site of the proposed American government center. He designed a U-shaped composition of buildings, but only three were constructed: the Executive House, the Department of Tourism building, and the Department of Finance building.
BURNHAM PARK
(Baguio City)
Burnham Park is centered around a man-made lake located at the heart of the City of Baguio. It was named after the city's planner, Daniel Burnham. The park is a favorite place of local residents and visitors alike. There are different facilities for recreation and relaxation that are available in the park. You can row a boat, have a picnic, attend an outdoor concert, watch a football game, go biking, or just take a leisurely stroll around the park. At the southern end of the park is a circular skating rink where skates can be rented. There are also tennis and basketball courts, a few restaurants, outdoor kiosks, a children's playground, and an orchidarium where various kinds of plants, trees and flowers are sold. Chairs and benches are distributed around the park for those who just want to sit down and relax. The football field at the eastern side of the park is sometimes used for parades, carnivals, concerts, political rallies, and for display booths during special events and activities. On certain Sundays and some special occasions, cadets of the Philippine Military Academy perform a parade and review or a silent drill exhibition. Just after the big earthquake that hit the city in 1990, many of its residents fled their homes for fear of aftershocks and temporarily set camp in this field.
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PACO PARK
(City of Manila)
PACO PARK
Paco Park is considered a unique landmark of the City of Manila which was originally planned as a municipal cemetery. It is one of the most popular wedding venues of the city. It also exhibits a large fountain right in the middle of the park which is one of the prime attractions along with the frangipani trees and almost century-old acacias. Besides Paco Park, the city also offers some of the most fascinating and must visit attractions such as numerous historic sites, amusement parks etc. Manila being one of the most favored tourist destinations, tourists from all over the world visit this magnificent city. To accommodate these tourists, it offers a range of accommodation options that suit everyone making it a very accessible city. The staff of the hotel is very friendly and warm which will make your stay a memorable one.
POOK NI MARIA MAKILING
(Los Baños, Laguna)
Mount Makiling, also rarely Mount Mauling, is in Laguna province on the island of Luzon, Philippines. Pook ni Maria Makiling, an eco-tourism site adjacent to the Jamboree Site, National Arts Center and U.P. Los Baños The vegetation consists of The lower slope is a tall dipterocarp forest while the summit is a dwarf mossy forest. The slopes of Mt. Makiling are shaped to resemble a woman reclining, hence, the air of mysticism that surrounds the mountain. Legend has it that it is the profile of the sleeping Maria Makiling, a mythical goddess. Still others say that Maria Makiling dwells in this mountain and protects dwellers and travelers from harm. It is a forest reserve under the official stewardship of the University of the Philippines Los Baños (UPLB). You can explore Mt. Makiling through the UPLB College of Forestry and Natural Resources. The mountain is ideal for hiking, camping, trekking, mountain biking, and bird watching. These boiling pots of mud produce a very strong and distinctive/
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offensive sulfuric smell (warning to those with asthma or other respiratory diseases). You can also see thick smoke coming out from the sulfuric vents. Don't get too close to these as the boiling mud can burn your skin. Camping is also not allowed on this site and beware of the dangerous and restricted area; do not go beyond the fenced area. Just be content in gazing at this mystical sight.
How to Get to Mount Makiling By public transportation: Ride a bus from Cubao or Buendia going to Sta. Cruz, Laguna. If coming from Alabang, ride a bus going to Calamba and then take a jeepney to Los Baños. Get off at Los Baños Crossing, walk towards El Danda street (beside Robinson's Mall); ride the jeepney going to UPLB forestry. For more convenience, you may rent a jeepney (from El Danda) that will take you directly to UPLB Forestry all the way to the get-off point/entry point of Flat Rocks and Mud Springs. Be prepared to pay extra, maybe more than 100 Php for a one-way ride. By private vehicle: If you are coming from Manila, drive through South Luzon Expressway (SLEX) and take Calamba exit. Go to UP Los Baños College of Forestry and the Makiling Rainforest Park. AVJ-RE W
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Spreading the Love
Baluarte (which means fortress or territory) was built in 1991, is the 80-hectare property of Governor Luis “Chavit” Singson. It is the home to more than a thousand animals including those that cannot be seen elsewhere in the Philippines such as the Axis deer, Elk deer, and White deer from Australia; Dromedary camel from Saudi Arabia; the Albino Walliby small kangaroo; Blue Gold Macaw from South America; Damara sheep from Angola; Antelope deer from Africa and Wild deer from South East Asia.
L
ocated in Ilocos Sur, Baluarte is a 10-minute drive away from Vigan. The one-of-a-kind destination with a spectacular view that stretches all the way to the South China Sea has added charm to the north, giving tourists more reasons to visit and the locals an additional source of pride. Access is easy since no entrance fee is charged, anybody can arrange a visit or simply walk in. “It is my personal contribution, my gift to them,” says the governor otherwise known as “manong” by his constituents. Baluarte was originally meant for Governor Chavit’s private use. A nature lover, he finds tranquility in the surroundings and shared this experience of peace and quiet with some celebrity friends who would visit him regularly for some rest and relaxation. Among them was the late Fernando Poe Jr. It is also here that the governor holds talks with his people, being a political leader, he had constant engagements. Realizing how enjoyable the Baluarte is for everyone, Governor Singson eventually decided to open it to the public. 60 │REAL ESTATE WORLD
In collaboration with one of his scholars, architect Estrellita Rugnao, work on Baluarte was done on a staggered basis making sure that the facilites ensures the safety of both the visitors and the animals. Proper housing of the animals and protection of their natural breeding process were of utmost importance. During construction, indigenous materials like boulders found in the area were used. Baluarte supports and promotes eco-tourism, it is eco-friendly and selfsufficient. There are picnic areas and visitors can bring their own food. However, everyone is required to observe cleanliness at all times. The facility observes proper waste management applying Vermiculture, which accelerates composting of biodegradable agricultural and household wastes with the use of imported African Night Crawler earthworms. Composted wastes are then used for fertilizer and sold for additional income. This is implemented in coordination with the Provincial Agriculture office of the Department of Agriculture.
Baluarte is more than a zoo. “It represents family bonding through live encounter with the different animals, there is also a touch of entertainment,” describes Governor Singson. Guests can feed the ostrich, birds, miniature horses, camels, turkeys, deer, monkey, geese, snakes, hogs, and pony. Food appropriate for the animals are sold and are given to the animals with the supervision of animal trainers. The petting zoo is always a thrill, especially for the children.
serpent eagle, tigers, Palawan bear cat, and the eastern bearded dragon. Guests can also enter the Butterfly Garden which houses thousands of colorful butterflies. The governor himself checks all areas of the Baluarte regularly. He sees to it that the animals are in tiptop health and that their domicile are sufficiently maintained by the 30-40 workers in the area.
Most of the animals can also be touched except for the crocodiles. Rides on mini horses called “tiburin” can also be availed for free. This involves a small carriage that can accommodate up to 4 persons pulled by a mini horse. Needless to say, every moment at the Baluarte is worth preserving in photos so tourists’ cameras click incessantly.
Governor Singson’s fondness for animals started when he was about five years old and had to care for a pet cat. It’s no surprise then that he is partial to their larger and more fierce counterparts, the tigers. Governor Singson is able to share this passion with the public through Baluarte. It is his goal to inculcate a concern for animals, to make people understand requirements for breeding, and to teach For more close encounters with the animals, guests can also them how to raise animals for business purposes. “Whenever attend the live shows which are held four times a day. Highly you give care, the care goes back to you three-folds so always educational, the shows highlight more than a handful of exotic be kind and generous,” he concludes. Nana Nadal-RE W creatures such as snakes (python, etc), iguana, wild pig, crested
Governor Luis “Chavit” Singson with his favorite tiger.
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For more information, log on to www.chavitsingson.net/baluarte or call 63 77 7227186.
BALUARTE MORE THAN JUST A ZOO
B
aluarte is not just a zoo, it is Gov. Chavit Singson’s residence and for that reason he opted to build a retirement home called Torre del Baluarte where he could spend his time in tranquility and serenity with his love ones and most precious pets. His Retirement Home, was designed by Interior Designer Ms. Christine Victoria Lazaro and Ms. Theresa Lasala of TL Design Studio Company located at 230-A El Grande Ave., BF Homes Las Pinas City, focused on a modern contemporary theme. The overall architectural style was done through calculated evaluation of Gov. Singson’s preference in colors, materials and lifestyle. resulting to modern yet sophisticated but unassuming looks. (photos by: Kat Santos) Torre del Baluarte is a tubular (circular) shape consisting of 9 floors in totality, where the 9th floor is the Garden Area, where Governor Chavit mostly spend his time in relaxing after hard days work. This place has different seating areas for his guests to choose from, using green design, meaning all materials are made from recyclable items, bamboo. Locally available slate and light weigh concrete. TORRE DEL BALUARTE - THE RETIREMENT HOME OF GOV. LUIS CHAVIT SINGSON IN VIGAN CITY ILOCOS SUR
material used in this area is the column covered with white mother of pearl. The 7th floor/Gov. Chavit’s classic bedroom is made up of special items fitted for his personality: example, is the Ferdinand cacnio-headboard and the Tiger door handle. And for an arms length of specialty drinks and authentic wines, an exclusive micro-bar is just around the corner and just above, is an awesome extraordinary Jacuzzi spa for total relaxation.
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The reception floor (on 3rd floor), were made of Narra Flooring mixed with black Italian tiles to give depth to the area. His favorite
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CIPS DESIGNATIONS CREBA, Inc. in cooperation with the NATIONAL ASSOCIATION OF REALTORS® (NAR), the largest trade association of real estate agents in the USA, is proud to offer a well renowned training for international real estate transactions for real estate service practitioners and professionals in the Philippines. DEFINITION OF TERMS CIPS – Certified International Property Specialist CIPS Candidates – are Qualified Individuals who, successfully completed the Course and have declared their CIPS candidacy by so notifying NAR in writing and having paid all fees then required. CIPS Designees shall mean those Qualified Individuals who have been awarded the CIPS designation after fulfilling the following requirements within two (2) years after declaring their CIPS candidacy: (i) successful completion of the CIPS Institute courses; (ii) completion of an application to become a CIPS Designee; and (iii) payment of all fees then required. Qualified Individuals shall mean: (i) individuals whose principal real estate business is located within the United States or one of its territories, or (ii) individuals whose principal real estate business is located outside of the United States and who are members of an association outside of the United States which is a party to a then effective Bilateral Cooperation Agreement with NAR
WHY GET THE CIPS DESIGNATION Stand out on a Global Level. CIPS is the only designation of its kind in the real estate community. It’s synonymous with advanced expertise, a global perspective and distinct understanding of a global buyer, and comes with powerful brand recognition with designeesin nearly 60 countries Be part of the 2,500 elite CIPS Network
By joining the CIPS Network you will gain access toinvaluable ideas, tactics, and referrals to truly learn thelanguage of international real estate and apply thisknowledge to your market and business objectives. Prestige and New Business CIPS Discover what International Real Estate Means
SCHEDULE & SUBJECTS GENERAL AGENDA:
• Global Real Estate: Local Markets • Global Real Estate: Transaction Tools • The Business of U.S. Real Estate • Europe • Asia/ Pacific • Train the Trainer • International Property Tour • Graduation / Reception Dinner Monday: Feb. 20, 2012 Global Real Estate: Local Markets (formerly International Real Estate for Local Markets ) • Globalization • Ethics and Equal Service • Cultural Attitudes, Practices & Communication • Local Market Demographics • Marketing and Selling Practices • Creating and Launching Your Business Plan • Capital Flow • Currency Issues • Investment Trends • Cross-Cultural Relationships
Be a Certified International Property Specialist (CIPS) “ Don’t just give your business a Global Spin; take your Business to the Global Level ! ” DATE : February 20– 25 , 2012 VENUE : ASIAN INSTITUTE OF MANAGEMENT AIM Conference Center Manila Benavidez corner Transiera St. Legaspi Village, Makati , Philippines Take Your Business to the Global Level Be a Certified International Property
Tuesday: Feb. 21, 2012 Global Real Estate: Transaction Tools • Investments and Investors • Ownership and Taxation Considerations • France & Capital Markets • Elements of an Investment • Measuring Investment Performance • Preparing Financial Projections • The Impact of Taxes on Investments • An Outbound Commercial Transaction • Effects of Exchange Rates on Investments
Wednesday: Feb. 22, 2012 The Business of U.S. Real Estate • Social Characteristics • Geography • Politics
SCHEDULE & SUBJECTS • Cultural Characteristics • Develop knowledge of US Real Estate Business • Multiple Listing Service • Agency Relationships • US Real Estate Transaction
Thursday: Feb. 24, 2012 EUROPE
TRAINER Aida Turbow GRI, CIPS, TRC, CDEi™ Aida Turbow is an International Real Estate Professional with over 25 years experience in Global Marketing, Branding & Strategic Sales. At the Institutional level, Aida Turbow won various Awards: Instructor of the Year Award in 2011 and 2003; Most Valuable outreach Award in 2009; Most Valuable Regional Coordinator for NAR, in 2007; Aida served as 2009 CIPS (Certified International Property Specialist) Faculty Chair, as well. Aida Turbow served as the 2001 advisor (Liaison) for the International and Education Committees, to the National Association of REALTORS® President, Richard Mendenhall . As appointed Regional Coordinator for NAR, for South America, from 1999 to 2007, she also served as the 1998 Chair of NAR’s International Operations Committee; instrumental in the development of the CIPS education program, wining The Most Valuable NAR committee Chair, for 1998. Realtor Associate of the Year: State of Florida 1999. She has participated in yearly NAR leadership delegation Latin America, Europe and Asia .As a Senior Instructor for the CIPS Designation, she has taught courses throughout the US and the world, with a handful of colleagues, to over three thousand professionals a year since 1995, throughout the globe, including Bulgaria, Ireland, Portugal, Italy, Dubai, Brazil, Argentina among others. Aida has enhanced revenue opportunities for companies like Arvida, the Ginn Company, Intrawest (Playground), Prudential Florida and a host of others. For 12 years she spearheaded the International Sales and Marketing Programs and Business Development at Arvida Realty, in Florida. (Arvida was owned by Disney in the 1980s) Out of $6.2 Billion in yearly sales, 15% was produced from Aida’s international Division. Working as the intellectual architect of an online Portal for worldwide Real Estate Developments exposure, Aida coordinated, within ICREA, (International Consortium of Real Estate Associations) access for Second Home and Resorts Developers to 40 countries, for the Global New Home & Resorts Portal: www.worldproperties.com. In joint collaboration with Redimob, Brazil,, Aida Turbow researches and implements Online and Onsite Events, and online property aggregation for Real Estate Developers in key Global markets
• The European Union • Europe as an Economic Region • Looking Ahead • Impacts on International Real Estate • Economic and Real Estate Trends • Western European Economies • Eastern European Economies • Business Culture Overviews FEES: $ 1,000.00 regular fees • Licensing and Foreign Ownership Requirements $ 595.00 Only for the first 100 • Working with an Outbound Commercial Investor Founding Registered Applicant • Working with an Inbound Commercial Investor Inclusive of Course Materials 2 coffee breaks and a lunch for 5 Days Graduation / Reception @ Quezon Ballroom C, Makati Shangrila, Makati City
Terms & Conditions
Friday: Feb. 24, 2012 ASIA/PACIFIC
• Converting Foreign Currencies & Measures • Key Nations • Trade Agreements • Economic Trends • Cultural Influences (Religions & Beliefs, Social Values,Legal Systems) • International Market Knowledge • The Country Assessment Model • Working with Japanese
Saturday : Feb. 25, 2012 TRAIN THE TRAINERS •For qualified CIPS Instructor Applicants Only
INTERNATIONAL PROPERTY TOUR
REGISTRATION FEES & POLICY :
Registration is confirmed upon receipt of full payment and duly completed Registration Form
CANCELLATION POLICY:
Any student canceling his/her participation cannot be refunded however, the fee can be used towards future course offering subject to applicable rates.
ACCOMMODATION:
Participants are required to book by themselves. We will recommend a list of convenient hotels. Accompanying persons are welcome to participate in the extra curricular activities but are not allowed to attend the lectures and workshops.
DISCLAIMER :
The Organizer reserves the right to change Venue, Course Offering Dates, and Programme as deem necessary without prior notice in the interest of the Course. Upon registration, attendee confirms to the above Terms & Conditions.
For Train the Trainer :
• Submit Resume on Teaching Experience International Experience or Transaction Professional Specialty REAL ESTATE WORLD │ 65
PHILIPPINE FEDERATION OF REAL ESTATE SERVICE PROFESSIONALS, INC.
Presents
CONFERENCE
ON URBAN DEVELOPMENT AND HOUSING ACT REPUBLIC ACT NO. 7279
Former Senator Joey Lina Resource Speaker
ISSUES: • • • •
TAX INCENTIVES OF SOCIALIZED HOUSING DEVELOPMENT HOW TO SOLVE GROWING SQUATTING PROBLEMS LGU ‘s RESPONSIBILITIES AND RESPONSE TO GROWING EXTERNAL SETTLERS HOW FINANCIAL INSTITUTIONS CAN ASSIST SETTLERS AND LAND OWNERS
IN COOPERATION WITH
FOR FURTHER INFORMATION CALL DANIEL R. DELA CRUZ MOBILE NO: +63 0918 828 3333
MEDIA PARTNER:
REAL ESTATE TRUSTED TRADE REFERENCE WITH A GLOBAL REACH
66 │REAL ESTATE WORLD
WORLD
REAL ESTATE WORLD │ 67
Andy Mañalac “For the past several years I was enjoying the benefits of being a member so I thought maybe it’s about time I give back and serve the board”. Those were the thoughts of Alejandro Mañalac in 2005 when he was first nudged to run in the officer elections of the National Real Estate Association of the Philippines (NREA), an organization that he joined in 1997. He won and occupied the seat of the Executive Vice President before eventually becoming President two years later, for three consecutive terms. CAPTION....................................... 68 │REAL ESTATE WORLD
PASSING OF
THE TORCH A
s 2012 rolls around, Andy, as Mañalac is known, takes over the post of Chairman from Jose “Ka Pepe” Manalad who has held leadership on and off for 16 years of NREA’s 21year existence.
A graduate of Computer Science, Andy started his career working as a programmer at SC Johnson. In time, he realized that he was not cut out for the job. “I like interacting with people,” he says. “I went into commodity futures trading which was the in thing then but I didn’t like it. Then somebody brought me to a real estate company and I had not left the industry since then,” he relates. That was in 1989. Now he is the Senior Vice President for Sales of Century Properties, at the helm of luxury developments such as the Trump Tower and The Milano Residences (in partnership with the world-renowned Italian fashion brand, Versace). “It is very dynamic. No day is the same. I meet a lot of people and make a lot of friends. It also gives me the opportunity now to share whatever little things I know to other people who would like to make real estate their careers,” he rattles off the reasons why he has stayed in the business.
And he sure has a lot to impart, after all, he has thrived, despite economic swings throughout his career. “I’ve been through several real estate cycles. One of the worst was in 1989 where we had a coup d’etat, day-long brown-outs, extremely high interest rates, the US dollar at Php54.00, the Gulf war, Ormoc flash flood, and Pinatubo eruption,” he enumerates. “But that’s the time that clients need you most. I tell my team that the clients do not need you when you’re offering a project. But they want to see you when there is a crisis or when they’re in need, your presence is more important during those times. If they know that they can rely on you during bad times, then they will keep you in mind during good times. And that is the secret!,” he discloses his winning formula. Andy has a column on real estate in Buhay Marino, a publication for Overseas Filipino Workers (OFW) distributed worldwide. He can also be read in News Central, the business newspaper of the Subic-Clark-Tarlac region. “I used to have a radio program on NBC in 2005. After that, we developed a website which was only the third party unbiased real estate reference for Filipinos overseas. The site no longer exists but I got all the contents and it can be
The NREA Board Meeting
REAL ESTATE WORLD │ 69
cooperation with the private sector,” elaborates the 80-year-old. Andy shares that NREA has always believed that properly educating the practitioners will provide better service, which translates to better business. “The buyers will feel protected and confident, therefore they will invest more,” he sums up. With the Real Estate Service Act (RESA, Republic Act 9646), real estate practitioners must be licensed by Professional Regulation Commission (PRC). And according to the act, as soon as a course leading to a Bachelor’s degree in Real Estate Service is implemented by the Commission on Higher Education, the course will be a requirement for taking the licensure examination. This is mainly for the protection of buyers. “Right now, before you can get a license, you will have to take 120 hours of CPE and then pass the exams. And it’s not only for sales people but the backroom support as well such as real estate law, accounting, development, and management. Sa atin kasi pag sinabing nag-re-real estate ay ahente!,” he says. When in fact, the industry covers a whole gamut of jobs. And they’re all in NREA.
accessed through www.centurytrump.com. We came up with the site because madaming nalolokong OFWs and they had nobody to ask so kawawa naman, pinaghirapan nila tapos maloloko lang sila,” he explains good naturedly. It is with the same noble intentions that Andy agreed to the Chairmanship of NREA. While initially hesitant to accept the daunting role after winning the elections, he eventually conceded. “There are programs which we’ve been doing for the past two years which need to be continued and we’d like to see these through,” he reasons. Among the programs is educating the people in the industry. “Right now we are the biggest provider of seminars for all practitioners,” he beams. “NREA is among the few organizations that can offer Continuing Professional Education (CPE) review for salespersons, for brokers, for appraisers and consultants,” injects Ka Pepe, who joins the conversation. “We’ve always wanted to bring to the countryside what’s happening in the National Capital Region. And that’s what we do. We are bringing to the people what the government is doing, in 70 │REAL ESTATE WORLD
“It’s a one-stop trade organization,” Andy says of the approximately 4,000-member strong group with 400 active associates. “It has been said that one real estate transaction has a multiplier effect of 16.7. It affects 16 industries merely on the construction stage, even more after that. All these allied industries are members of NREA,” he declares. Among them are Felino Palafox Jr. (hailed 94th in the world by World Architecture Magazine of London), Abelardo Tolentino (who ranks 83rd), and Nestor Mangio. “We have the best educators, lecturers, tax consultants, real estate lawyers and almost all the developers,” he details. “With the kind of set-up of NREA, you can have a business in one table. NREA provides that platform for interaction where business can be done in one sitting,” he substantiates. While networking is inevitable, it is not really the objective of NREA. “To be the voice of this allied industries,” is the main role of the association. “We work with the government a lot, we support the programs that we agree with and air our side on those that we don’t quite belive in, but we are not combative, we do it the friendly way” he smiles. The amiable newly-elect chairman describes himself as a participative leader and a coach at the same time. “I really do not want to say that I will be leading these big people, I prefer to say that I will be working together with them to achieve our common goals for the organization,” he clarifies. “To be at the helm of a board of very successful people is both an honor and a challenge,” he adds.
“NREA exists to serve its members. We have a very dynamic board with members who have pledged to give their unselfish support to the organization. I am very fortunate and actually really honored to have the support of these people. Our Vice Chairman, Dr. Rey Carpio is one of my idols and role model, a truly self-made and very inspiring champion. An established developer at a very young age. I am actually keeping track of his age and accomplishments and using it as my goal timeline. Our President, Marissa del Mar is a very popular TV personality, a developer also and manufacturer of modern construction materials, is a tireless and selfless individual whose activities seem to involve more of charity and sharing than making money. Our EVP Benigno Carbrieto is another developer who has also been a senior officer of the other two major real estate organizations”. He also cites new member of the board Arch. Abelardo Tolentino whose company is behind some of the most modern developments at the Bonifacio Global City. With roughly 35% of the board comprised of fresh blood, Andy is hopeful that innovative ideas won’t be hard to come by. “I have a board with new members who are really gung-ho in making NREA very visible, to give it a louder voice!,” he enthuses. “The culture here is what you can do for the organization, it’s really about giving,” he reiterates.
a disadvantage now with regards to my time, becomes an advantage. And it will be NREA at the forefront,” he points out. Other than that, he just hopes to keep the momentum that NREA has started 5 years ago aimed at expanding the membership, improving the services, getting the members involved, and pursuing their advocacies. So the torch has officially been passed. “Carry the torch, it’s as simple as that,” Ka Pepe quips when asked what message he would like to give the next generation of NREA leaders. “He is now the head of the policy-making body and he will see to it that policies are made and implemented. They know what to do, if there are some kinks that they can’t fix, they can always come to me. Before I close my eyes I know everything will be in order. I am very confident that one day they will lead better than me,” Ka Pepe verbalizes. “I don’t want to call it passing the torch,” disagrees Andy. “We will be holding the torch together and keep running,”. Listening to him, you just know that NREA will go even farther.REW
While Ka Pepe feels that Andy possesses a lot of talent and dedication, he admits that his successor does not have much time in his hands but that doesn’t mean he can give less. “My days start very early and end really late. Moreover, since we have networks in the other parts of the globe in different time zones, I get calls and emails, or BBMs even at the wee hours of the morning,” he reveals. “Right now I’m setting up an international organization so I’m out of the country often,” volunteers Andy. In the course of his travels, targetting affluent investors, he discovered something that he can contribute to the industry through NREA. “I was surprised to know that a lot of the high end foreign nationals who are potential tourists and can eventually be investors do not know the Philippines. They are only familiar with Thailand and Indonesia because there’s proper promotion of Phuket and Bali. “This is one of the advocacies that I’ll be doing now in behalf of the organization, to promote the country, bring in tourists, so there’s property tourism. To let them see what they can have and enjoy here. And if they like it, they can commit themselves and buy property. So what used to be
**To learn more about NREA, log on to www.nreaphilippines.com
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PHILIPPINE FEDERATION OF REAL ESTATE SERVICE PROFESSIONALS
T
holds charter induction ceremonies at Marriott Hotel
he Philippine Federation of Real Estate Service Professionals, Inc. (PFRESPI) organized this year by a group of professional real estate service practitioners from the government and private sectors nationwide, held its inaugural on October 6, 2011 at the Marriott Hotel. Gracing the event was no less than the country’s Housing Czar and Vice President Jejomar M. Binay as the inducting officer and Mr. Alex Y. Romanenko, World President of FIABCI – the International Real Estate Federation. Shown in photo are (front row from L-R) Edward Argayoso-VP for Mindanao and President of Cagayan de Oro Chapter; Severino Tan-President, Zamboanga del Sur Chapter, Dr. Rodrigo MallongaPresident, CARAGA Chapter; Edgardo Caisip-President, Quezon City Chapter, Daniel dela Cruz- P.R.O.; Victor T. Salinas(+)- Trustee, Conirose L. Dulalia-Trustee, Orlando T. Diaz-Secretary/Treasurer, Jefferson Bongat-Trustee (back row from L-R) Homer Dorin-VP for Appraisers, Cecilia Alba- Undersecretary, Housing and Urban Development Coordinating Council, Mark Carpio, Reynaldo Carpio-President, FIABCI Philippines,VP Jejomar Binay, Alex Romanenko-World President, FIABCI-the International Real Estate Federation, Florentino S. Dulalia, Jr.-National President; Pedro C. Tario-Chairman, Anthony Pulmano-VP for Assessors, Ernesto Angeles – VP for Luzon, and Herbert Buot-VP for Visayas and Cebu Chapter President. 72 │REAL ESTATE WORLD
“One of the first professional service associations formed after the Real Estate Service Act (RESA), PFRESPI works to maintain the integrity and reputation of the industry...” One of the first professional service associations formed after the Real Estate Service Act (RESA), PFRESPI works to maintain the integrity and reputation of the industry by providing its members excellent opportunities to network at local, national, and international meetings, promotional tools, education, wide reach of disciplines within the real estate business, marketing and publicity, network with the developers for a better commission, local, and international events. Now a principal member of the International Real Estate Federation (FIABCI), its members can have the opportunity to worldwide connections such as the world real estate congress and the global real estate education. PFRESPI has organized Chapters nationwide such as Las PiñasParañaque-Muntinlupa, Makati, Caloocan, Pasig, Quezon City, Cebu, Bacolod, Cagayan de Oro and CARAGA. REW For more information, e-mail PFRESPI at ph.frespi@gmail.com and fdulalia@yahoo.com or visit their website at www.phfrespi.com.
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Philippine Real Estate Festival:
Forging on to 2012
F
resh from the success of the Philippine Real Estate Festival (PREF) 2011, PREF will mark its sixth year in 2012 with a compelling focus in this era of financial challenges: the promotion of the Philippines as a hub for Property Investment in Southeast Asia. The recent economic and financial challenges in other developed countries made the investors look into the emerging Asia as an alternative investible market. The real estate booming industry in the cub economies is the vehicle of their safe investments. PREF 2012’s exhibit will feature new housing and building technologies from construction materials to best practices from different countries will get exposed from these breakthrough ideas and products that would otherwise not be easily accessible in any local convention or forum. As mentioned, the business matching opportunities will be limitless given such a diverse line-up of exhibitors and participants. A three-day program will be that that will feature internationally-recognized experts discussing the pertinent issues and insights on the investment gains embedded in the Philippine real estate industry. More varied and exciting exhibitors will also be in attendance given the globalized aspect of PREF 2012.
Rosemarie “Rose” Custodio Basa, President and Chief Executive Officer, PREF Events Management
Rosemarie “Rose” Custodio Basa, President and Chief Executive Officer of PREF Events Management said that she will take the event into another level this July 2012 at the World Trade Center.
The past festivals have been continuously supported by the country’s real estate organizations and other related industy groups. Notable of which are the following: Chamber of Real Estate and Builders Association (CREBA), Subdivision and Housing Development Association (SHDA), National Real Estate Association (NREA), and Organization of Socialized Housing Developers of the Philippines (OSHDP). All six (6) Key Shelter Agencies (KSA) under the Housing and Urban Development Coordinating Coucil (HUDCC) namely the HDMF or Pag-Ibig Fund, National Housing Authority (NHA), National Home Mortgage Finance Corporation (NHMFC), Home Guaranty Corporation (HGC) Social Housing Finance Corporation (SHFC), and Housing and Land Use Regulatory Board (HLURB) also support the event. With this year’s theme, “Real Estate, Tourism, and Media: A Tripartite Collaboration for National Progress,” PREF 2012 will provide a one-stop venue for other related disciplines such as tourism and media and in turn, has integrated other important government and trade associations into the mix of patrons. REW
PREF 2011 has been opened by no less than Hon. Vice President Jejomar C. Binay, who has also opened PREF the previous year. He was assisted by leaders of key real estate associations: Mr. Charlie V. Gorayeb (President – CREBA), Mr. Manuel C. Crisostomo (Chairman/President – SHDA), Ms. Marisa Del Mar (President – NREA), and Mr. Jefferson S. Bongat (President 74 │REAL ESTATE WORLD OSHDP). He also delivered the Festival’s keynote speech, introduced by Atty. Miguel B. Varela, Chairman of the PREF Advisers.
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REAL ESTATE TRUSTED TRADE REFERENCE WITH A GLOBAL REACH
WORLD
Presents
THE MAGICAL WORLD IN REAL ESTATE GREEN PAVILLION At the
Philippine
Real Estate
On July - 2012 9am – 6pm The World Center PICC Complex, Pasay City For information: MEDIA CENTRAL 8283333 Daniel R. dela Cruz 09198504468 Nixon Salimbangon 09476068117 76 │REAL ESTATE WORLD
69│ REAL ESTATE WORLD REAL ESTATE WORLD │ 77
What can George Yang has to say on Dr. Andrew L. Tan ? “I’ve known and worked with Andrew Tan since McDonald’s started operating in the country 30 years ago. He was one of our early suppliers, providing the first McDonald’s stores with kitchen equipment and other supplies. Through the years, I have seen how he’s grown from a young and starting entrepreneur to the Taipan that he is today. Much of his success can be attributed to his great business sense, foresight and determination. He also has guts and courage to think out of the box in order to achieve his goals-Andrew dreams big. When we, in the mid 2000’s, had an opportunity to wholly acquire the McDonald’s franchise and for it to be 100% Filipino-owned, I wanted Andrew to join the company and become the minority shareholder. I was very confident that with his invaluable experience and business acumen, he would be an asset to the continued success of McDonald’s.”
Vice Chairman Andrew Tan and Chairman & Founder George Yang of McDonald’s Philippines
From L-R: Vice Chairman McDonald’s Philippines Andrew L.Tan, President McDonald’s Asia Pacific, Middle East & Africa (APMEA) Tim Fenton, Chief Happiness Officer Ronald McDonald, Chairman & Founder McDonald’s Philippines George Yang and President & 78 │REAL ESTATE WORLD CEO McDonald’s Philippines Kenneth Yang
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LAND REGISTRATION AUTHORITY
LRA Quezon City LRA Meycauayan, Bulacan
MISSION T
he Land Registration Authority is mandated to issue decrees of registration and certificates of titles and register documents, patents and other land transactions for the benefit of landowners, Agrarian Reform-beneficiaries and the registering public in general; to provide a secure, stable and trustworthy record of land ownership and recorded interests therein so as to promote social and economic well-being and contribute to national development.
LRA San Juan City
To achieve this mission, the LRA is committed to effectively implement the laws and regulations relative to the registration of land titles and LRA Calapan City deeds; to maintain and foster greater public trust and confidence in the Torrens title through honest, prompt and efficient service to preserve and maintain the integrity of land records; to provide vital, accurate and timely land-related development as well as to provide convenient working conditions and adequate incentives to all LRA personnel.
80 â&#x201D;&#x201A;REAL ESTATE WORLD
LRA Guiginto, Bulacan
LRA Lipa City
A LAND REGISTRATION AUTHORITY
Organizational Structure
(LRA) that is: • An independent corporate body exercising quasi-judicial functions with automated systems and modern facilities; • An effectively managed organization responsive to the needs of its client and its personnel as well. • An entity conscious of its role to promote and to attain the full trust and confidence of the public in the Torrens title.
LRA CENTRAL OFFICE
VISION
MANDATE
The LRA exists for the sole purpose of implementing and protecting the Torrens system of land titling and registration. It is the central repository of all land records involving registered or titled lands, It issues decrees of registration pursuant to final judgment of the courts in land registration proceedings and causes the issuance by a registrar of deeds the corresponding certificate of title; It is tasked to issue all subsequent or transfer certificates of title which may either be issued judicially or administratively; It keeps the title history or records of transaction involving titled or registered lands; It exercises control over the disposition or alienation of registered lands in accordance with existing government rules and regulations; It provides legal and technical assistance to the courts on land registration cases; It extends assistance to other agencies of the government in the implementation cases; It extends assistance to other agencies of the government in the implementation of the agrarian program; Its a revenue-collecting agency of the government. AVJ-REW
The Central Office (CO) performs centralized administrative, financial and legal support to all Registries of Deeds nationwide from its headquarters in East Avenue, Quezon City In addition the Central Office has the primary responsibility of: • Processing and examining documents pertaining to “ordinary” and “cadastral” (original) land registration proceedings. • Issuing decrees of registration pursuant to court decisions and orders for the issuance of decree. • Examining and verifying subdivision, consolidation, and consolidation -subdivision survey plans prior to their approval by the Administrator. • Administratively reconstituting lost certificates of titles, and in judicial reconstitution, of examining/verifying petitions and preparing a report to the Regional Trial Court concerned. Other related services include: • • •
Retrieval of records/information on status of plans and lots; Preparation of certified true copy of plans, technical description of lots/correction of technical description, decrees of registration; Resolution of issues raised “en consulta” and legal queries.
The Top Management of LRA
LRA Davao City
Hon. Eulalio C. Diaz III
Hon. Ronald A. Ortile LRA Cebu Province
Dir. Rosalinda G. Alonzo
Dir. Armando de Leon
Hon. Robert Nomar V. Leyretana
Dir. Porfirio Encisa
Dir. Rhandolfo B. Amansec
LRA Ilocos Norte
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Megaworld partners with Philippine Retirement Authority
Philippine Retirement Authority General Manager Veredigno Atienza (third from left) and Megaworld Senior EVP Lourdes Clemente (fourth from left) sign a Memorandum of Agreement as partners for providing foreigners SSR visas. Joining them are Megaworld marketing partners Abigail and Teruo Sumida, PRA Deputy General Manager Reynado Lingat and Megaworld International Managing Director Ma. Victoria Acosta.
P
roperty giant Megaworld Corporation recently inked a memorandum of agreement as the new partner of the Philippine Retirement Authority in promoting the Philippines as the preferred retirement destination in Asia.
Leading the signing ceremony, held at the PRA headquarters at the Citibank Tower in Makati, were PRA General Manager Veredigno Atienza and Megaworld Senior EVP Lourdes Clemente. “With this landmark agreement with the PRA, Megaworld continues to help in nation building as we encourage more and more retirees to spend their golden years and experience our warm climate and warm hospitality,” Clemente noted. As a partner of the government-owned PRA, Megaworld is authorized to facilitate the Special Resident Retiree’s Visa (SSRV) applications of qualified foreign clients investing in its real estate products. The SSRV, issued exclusively by the PRA, is a special non-immigrant visa that allows holders to stay indefinitely in the country and enjoy multiple-entry privileges, without imposing a minimum period per year as a residence requirement. Megaworld is tapping into a rapidly growing retiree market. Its new 8 Newtown Blvd residential project, located in Cebu, is specially designed to serve the needs of retirees and their families. The four-cluster development, part of Megaworld’s large-scale The Mactan Newtown, is adjacent to Shangri-La Mactan and Portofino, which allows residents easy access to the beach. RE W 82 │REAL ESTATE WORLD
Megaworld captures retiree market with
8
Newtown Blvd project
dining set and bed frame with mattress “to make it extremely convenient for our foreign retirees to move in and feel at home in the Philippines,” according to Legaspi. Once they move in, residents will undoubtedly enjoy spending quality time at the fifthlevel play deck. Watch the sun rise while swimming at the horizon-edge pool. Have a hot bath at the onsen room. Exercise their green thumbs at the Japanese garden. Meditate at the rock garden. Share stories at the tea room. Hobbyists can also perfect their paper art creations at the origami room and their flower arrangements at the ikebana room. And since this is a top retirement community, The minimalist-inspired 8 Newtown Blvd is the first mixed-use residential and office condominium complex 8 Newtown Blvd will also host a Wellness to rise in Megaworld’s The Mactan Newtown project in Cebu Center that will address the residents’ medical and health requirements. fter successfully opening the market for residential condominiums The location of 8 Newtown Blvd in The Mactan Newtown to mid-income families and launching the business process gives residents easy access to the beach, as the development is outsourcing (BPO) office space segment in the industry, leading just beside Shangri-La Mactan and adjacent to Portofino Beach property firm Megaworld Corporation blazes on another new trail, Resort. The Mactan International Airport is also just 10 minutes as it has started to capture a chunk of the huge market for retirees. away, through which they can catch flights to Hong Kong, Macau, Osaka or even Dubai. Other landmarks that are nearby, on the main Cebu island, that With the soft launch of its 8 may be of interest to retirees are Newtown Blvd development commercial establishments at Ayala in its 16-hectare The Mactan Center and golf courses including Newtown project in Cebu, Cebu Country Club and Alta Vista. “Megaworld hopes to attract “8 Newtown Blvd offers everything foreign retirees and Filipinos that a retiree considers in a future who have spent decades home,” according to Legaspi. He working abroad to consider also announced that Megaworld staying in the Philippines for recently inked a partnership with the their golden years. With the Philippine Retirement Authority to sensible design of our units facilitate Special Resident Retiree’s and amenities that carefully Visa (SSRV) applications of qualified take into consideration the foreign clients through their investment needs of retirees, Megaworld Residents can look forward to sharing stories at the tea room. at 8 Newtown Blvd. RE W perhaps has come up with the benchmark for retirement communities in the country, after which all future developments will be compared,” declared Megaworld VP for Marketing and project head Clifford Legaspi. Modern and minimalist are what best describe the architectural aesthetic of the project and its overall feel. The four 15-storey buildings sport clean lines and a white façade. The four-floor podium level will host commercial spaces on the ground floor and BPO offices, while residential units will start on the fifth floor to the 15th level. Retirees can choose between executive studio units at approximately 40 square meters and 1-bedroom units at about 50 square meters. All units come with balconies so that residents can enjoy the fresh sea breeze. Units can also be combined to two or three bedrooms for even bigger living spaces. Meditate and commune with nature at the Bonsai garden. All units will be delivered pre-furnished with premium items such as LCD TV, split-type air conditioning,
A
REAL ESTATE WORLD │ 83
7
Ways to Success in Real Estate Dr. Andrew L. Tan
1
CHOOSE THE BEST LOCATION FOR YOUR PROJECTS
Anybody in real estate will tell you that location is everything. My company, Megaworld Corporation, an urban property developer, has set itself apart by building only in the best locations in Metro Manila, mostly in the central business districts or surrounding areas. These
THE VENICE PIAZZA
places drive the most growth because of EASTWOOD MALL the concentration of business financial, commercial and cultural activity. It’s this sense of progress that attracts people to them. In the same way, we at Megaworld are attracted to these locations. If the location is like gold, there is a market. And if there is a market, we are there to build. Over the years, we’ve created a strong presence in the Makati CBD. We’ve completed 10 residential projects here: Kingswood Makati, the Salcedo Park, The Manhattan Square, Paseo Parkview, One Lafayette Square, Two Lafayette Square, Greenbelt Radissons Greenbelt Parkplace Greenbelt Chancellor and Greenbelt Excelsion. We have three office projects in the CBD, The World Centre and Petron MegaPlaza, and a retail project, Paseo Center. Citibank Square, Greenbelt Madison and One Central-all under construction- continue our series of luxury addresses in the area. We also recently launched Two Central and Three Central in a prime location on the financial side of Ayala Avenue. 84 │REAL ESTATE WORLD
1
“
“After 20 years in real estate, I can really say that there are no shortcuts to success. Success is more a journey than a destination. When I started out, I did not know as much as I do now. Along the way, I learned there are certain ways to reach my goal of enriching lives through real estate. These can also serve as your guide to your own success.”
”
Dr. Andrew L.Tan We first established Megaworld as a major developer of larged-scale live-work-playlearn townships in Libis, Quezon City. Our pioneering Eastwood City project was a landmark achievement for us. It allowed us to expand our reach into other exceptional locations by serving as a model for five other Megaworld townships. These are Forbes Town Center at the Bonifacio Global City in Taguig, Newport City at the Villamor Air Base in Pasay City, Araneta Center in Quezon City and Cityplace in Binondo Manila. We have the first-mover advantage in these cities. Once we decided to plant the Megaworld flag somewhere, our competitors have a hard time matching the scope and scale of our projects in that location.
company to be ISO-9001 certified. In the same year, our Eastwood City CyberPark received the Philippine Economic Zone Authority’s accreditation as the country’s first information technology park. This made Megaworld a key player in the business process outsourcing office market. After Eastwood City, we launched Forbes Tower Center in 2002, followed by McKinley Hill in 2004, and Newport City a year later. Manhattan Garden City and Cityplace debuted in 2006. In 2008, Megaworld’s parent company, Alliance Global Group Inc., through its subsidiary Travellers International Hotel Group Inc., partnered with Star Cruises Ltd. to develop Resorts World Manila. This is a 9.8-hectare tourism complex in Newport City located right across Terminal 3 of the international airport. It combines luxury hotels such as Marriott and Maxims with a gaming center, fine dining restaurants, a performing arts theater and a shopping mall.
2
BE INNOVATIVE AND STAND OUT.
Instead of a “me-too” mindset, Megaworld has a “me-first” strategy. By being the first to do new things, we have built our reputation as an innovator. And both the market and our competitors have sat up and taken notice.
In 1990, we were the first property company to set up a dedicated sales group. In the following year, we introduced the joint venture model for landbanking. In 1994, we formed a subsidiary, Empire East, to be the first to target the mid-income residential condominium market. We launched the live-work-play concept at Eastwood City in 1996. We introduced affordable payment schemes and flexible unit layouts in 1997. A year later, we were the first to set up a global sales network through Megaworld International, which now has 50 sales offices worldwide. In 1999, we were the first Philippine property
From our long list of innovations, four “mega-trends” have surfaced: mid-income housing, international sales office, BPO and integrated tourism. Of these, the first three trends have been picked up by other companies and are now buzzwords in the industry.
but largely overlooked middle-income market. A year later, the 16-hectare Eastwood City was born. We saw the signs pointing to the rise of office projects catering to the BPO sector, and we developed Eastwood City into a “cyber city,”combining highrise residences with high-tech offices. Fortunately, we succeeded in selling the idea of a metro-based cyberpark to the government-the Philippine Economic Zone Authority in particular. When it comes to housing, the same thing is true whether here or abroad: people prefer to live close to where they work. There is a strong demand for properties that satisfy this craving for a comfortable and convenient lifestyle. Our cyberpark concept took off, and we replicated it in our second cyber city, the 50-hectare McKinley Hill. Once complete, Eastwood City will host 19 residential towers with 8,267 condominium units, 10 BPO office buildings and 58,000 square meters of leisure space.
3
FOCUS ON A NICHE MARKET.
Megaworld was not the first real estate player in the industry. But we made sure that we were first in two of its fastest-growing sub-markets: mid-income residential condominium housing and BPO offices. Before we became a developer of townships, we started out building stand-alone condominium projects for the high-end market. Then we saw an opportunity to address the property needs of the broader,
THREE CENTRAL TOWER in Makati CBD REAL ESTATE WORLD │ 85
McKinley Hill on the other hand, currently offers 4,713 condominium units and 35,000 square meters of retail space. This year, it will be home to 11 BPO office buildings. By 2015, 30 residential buildings will be turned over. Overall, since 1994, Megaworld has launched more than 240 residential buildings, office towers, commercial centers and a hotel. From dominating two niche markets, we are now expanding into a third, which is integrated tourism. The 25-hectare Newport City is our first “tourist city.” We will soon start work on our second one, the 40-hectare Resorts World Bayshore City. It’s part of the 90-hectare Bagong Nayong Pilipino Entertainment City Manila of the government. Both Resorts World projects are expected to generate more than 110,000 jobs. The projects will also make Travellers International the largest hotel owner in the country with a total inventory of 5,000 rooms.
the industry, we stay visible as a company. By reinforcing our presence, we remind buyers what they can enjoy when they invest in a Megaworld property. We rely mostly on print media to promote the company and our various projects. Our in-house advertising team produces our brochures, fliers and print ads. These are the prime vehicles for our sales and marketing campaigns. From time to time, we use television and cinema ads to reach a target audience. Outdoor advertising, like billboards put up in strategic locations, is effective in raising awareness about our products. We bring our advertising efforts to a more personal level with our sales and marketing events. Project launches, open house events and roadshows let our agents and customers interact directly. Over the years, satisfied customers who bring repeat business have proved to be our best endorsers. Their positive wordof-mouth referrals have helped Megaworld become a household name.
4 6
ATTRACT BUYERS WITH THE MAKE CUSTOMER MOST FRIENDLY TERMS. SATISFACTION A FIRST Megaworld believes in doing good business. PRIORITY. We want to make a profit, and at the same time, we want to do it the honorable way. In order to bring our real estate products closer to our customer, we created affordable payment scheme. This was the Megaworld innovation way back in 1997.
Today, we still offer discounts on full cash payments, no-down-payment schemes, low monthly amortization schemes and deferred cash payment schemes for our pre-selling program. Most of these schemes are flexible and customizable.
Even our subsidiaries, Empire East and Suntrust Properties, follow this customercentered tradition. This has helped the Megaworld Group evolve into a virtual housing supermarket, which offers a complete range of housing options for all budgets.
Building the Megaworld brand took hard work, perseverance, creativity and passion. Today, we take the necessary steps to ensure its staying power. We advertise heavily and with a customer benefit-oriented approach. By being vocal about our contributions in 86 │REAL ESTATE WORLD
7
INSPIRE TRUST AND CREATE GOODWILL BY GIVING BACK TO SOCIETY.
At the end of the day, Megaworld exists to serve others. We believe in both doing well and doing good, which is why we do not limit ourselves to performing well in the property industry alone. Corporate social responsibility breeds a culture of service. And when you serve the community, you have the confidence of the public. I personally want to give back to society through education. I believe education is the key to lead people out of poverty. Giving a person of humble birth the opportunity to be educated means giving him the chance to change his life for the better. And that’s the reason why in my own Megaworld Foundation, offering college scholarship grants to poor but deserving young people is a top priority. Today, it supports hundreds of scholars in 21 universities.
The Foundation has also extended a helping hand to a variety of charitable causes centered on nation building, poverty alleviation, to environment, healthcare, good governance, literacy and care for women, the youth, the elderly and the handicapped. Its financial support and outreach efforts have helped touch lives and transform society in meaningful ways.
Our customers are the lifeblood of our business. They are always first in our minds. When we pioneered township developments, we prioritized comfort and convenience by bringing together everything they could ever need in one complete and integrated setting-from residences and workplaces to schools and commercials and leisure centers. We offered them easier ways to pay for their homes. And we made sure that they were happy with the design and quality of our products. Our commitment to our customer does not end once we complete a project. Instead, we continue to work closely with them to meet their after-sales needs over the long term. First Oceanic Property Management Inc., the exclusive property management arm of the Megaworld Group, renders Megaworld Foundation, the corporate social responsibility arm customer-friendly services to of property giant Megaworld Corporation, has again supported the homeowners and tenants ABS-CBN Foundation’s “Save the La Mesa Watershed Project.” By donating funds earmarked for a third hectare for reforestation, under its care.
5
STRENGTHEN YOUR BRAND THROUGH AGGRESSIVE ADVERTISING.
projects. It also develops various community programs and activities hand in hand with the homeowners associations concerned.
Megaworld helps preserve the pristine condition of the La Mesa
The group performs regular Dam forest and ecopark and ensure adequate water supply for maintenance and improvement Metro Manila’s 12 million residents. Megaworld AVP Raffy Perez of both residential and office receives a certificate from ABS-CBN Foundation Resource
Mobilization officer Darryn Vernie Castillo after Megaworld scholars and employees planted tree samplings, including the one in the foreground.
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LRA
In Full Gear
T
he Land Registration Authority (LRA) is in full motion with 110 automated Registries of Deeds (RDs) up and running all over the country for land and real property owners and buyers to easily get and check land titles.
The Land Registration Authority (LRA) has for some years, been applying modern technologies to improve its land records management system. Recently, a combination of microfilm and computerized database systems has greatly improved the security, reliability and accessibility of land title information of those registries where this technology has been applied. However, the steady introduction of new land title documents continues to challenge LRA’s ability to keep up with the microfilm operations, and the corresponding development of computerized databases. Moreover, the need for a more secure, accurate, efficient and modern land titling system cannot be over emphasized, for an effective land titling and registration system is a major force in the economic stability and progress of any country The advent of Republic Act 7718 (the “BOT Law”) and its enhancement to include information technology (IT) projects has provided LRA with a timely avenue by which it will be able to realize its mission and vision to improve its ability to secure its land titles and other documents and to deliver its services more efficiently and effectively. By focusing on IT as a key strategy, the LRA will strengthen the implementation of the land titling system in the country not only as a significant revenue source for the government, but more importantly, to enhance the integrity of the Torrens System. With the Land Titling Computerization Project (LTCP), it is envisioned that a query on the status of a land title can be made anywhere, anytime from any of the various Registries of Deeds nationwide; that there will be a shift from largely paper-based to a largely paperless system thereby securing tighter control over land titles; that it will hasten the turnaround time in the generation and issuance of land title, among others. In line with the LRA’s mission to preserve the stability and integrity of land ownership and maintain the trust and confidence of the public in the Torrens System, LRA’s LTCP shall enable the quick and secure registration of land titles in the country through the application of state-of the-art information technology.
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Specifically, it aims to: • • •
• • • •
Maintain on-line information on titles that is current, complete and accurate; Maintain the security and integrity of records by safeguarding these from tampering or destruction and deter substitution or insertion of questionable data, in paper or digital form; Ensure the integrity of the land titling registration system by moving from a largely paper-based to a largely paperless system, thereby securing tighter control over land titles and eliminating fraudulent titles; Protect land titles from loss due to fire, theft, natural disasters and the normal ravages of time using security-tested document imaging technology; Implement more reliable and predictable land registration procedures by streamlining and standardizing current processes to attain outputs within set timeframes; Provide a system of control to prevent overlapping or duplication of titles by using modern digital mapping technology to create accurate updated municipal/cadastral index map sheets; Provide management with accurate and timely information for policy making, performance appraisal, operations monitoring and more responsive public service;
The 110 RDs are located in the following areas: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
•
• • •
•
Cebu City Quezon City Parañaque City Province of Cebu Lipa City Lapu Lapu City Laoag City Province of Ilocos Norte Davao City Pangasinan(Lingayen) Las Piñas City Province of Bataan Batangas City Province of Iloilo Taguig City Iloilo City Sta. Cruz, Laguna Baguio City Benguet La Union, San Fernando Naga City San Pablo City, Laguna Iba, Zambales Meycauayan, Bulacan San Fernando, Pampanga City of Manila Pasig City Tagaytay City
29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56
Mandaluyong City San Juan City Calamba, Laguna Trece Martires, Cavite Tagum, Davao del Norte Binañgonan, Rizal Province of Tarlac General Santos City Negros Occidental Tacloban City Camarines Sur Palawan Province Talavera Aklan, Kalibo Daet, Camarines Norte Nasugbu, Batangas Baler, Aurora Nueva Vizcaya (Bayombong) Roxas City Morong, Rizal Pangasinan (Alaminos) Ilocos Norte (Batac) Mindoro Oriental (Calapan) Province of Nueva Ecija Cabanatuan City Kalinga Apayao (Tabuk) Olongapo City Surigao City
Eliminate fraudulent and inaccurate surveys by using modern digital mapping technologies to create accurate Municipal Index Sheets and for updating them with parcel boundaries; Support other government programs directly linked to the land titling system functions; Provide enhanced operational efficiency by strengthening the administrative support application systems; Provide a system of timely detection and identification of fake land titles which will assist in the identification of persons responsible therefore; and Improve revenue collection.
The most recent RD automations were done in eight new locations, particularly in the areas of Mamburao, Occidental Mindoro; San Jose, Occidental Mindoro; Sorsogon; Infanta, Quezon; Lamut, Ifugao; Borongan, Eastern Samar; Mambajao, Camiguin; and Iligan City. This is part of LRA’s Land Titling Computerization Project (LTCP), which aims to guarantee security and integrity for titles and deeds of land and real properties to rightful owners and provide a comprehensive and efficient registration service. “We expect more land and property owners to transact business with
57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81
Davao del Sur (Digos) Ozamis City La Carlota City Makati City Guiguinto, Bulacan Bacolod City Cagayan de Oro City Province of Negros Oriental Misamis Oriental Pasay City Dumaguete City Caloocan City Cagayan (Tuguegarao) Angeles City Ilocos Sur (Vigan) Kidapawan, North Cotabato Province of Bohol Capiz (Roxas) Tagbilaran City Surigao del Sur (Tandag) San Jose City, Nueva Ecija Tayug, Pangasinan Cagayan (Sanchez Mira) Ormoc City Southern Leyte (Maasin)
84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99
Alabel (Sarangani) Toledo City Surigao del Norte Trece Martires City Romblon Bangued (Abra) Bago Northern Samar (Catarman) Boac San Carlos City Palayan City Tangub City Bais City, Negros Occidental Danao City Borongan, Eastern Samar Ifugao, Lamut
100 101 102 103 104 105 106 107
Mambajao, Camiguin Iligan City Sorsogon Mamburao, Occidental Mindoro San Jose, Occidental Mindoro Quezon (Infanta) Zamboanga City Western Samar
82 Surigao City 83 Masbate, Masbate
us,” said LRA Administrator Eulalio Diaz III. “We assure the public of improved service as we continue to upgrade our land titling systems and processes.” To prove this point, LRA has just recently launched a new transaction monitoring service for the public to be able to monitor their ongoing transaction with any of the RDs nationwide. The service is called the LRA Online Tracking System or LOTS. This service is easily accessible to the public anytime, anywhere by just logging on to http://www.lra.gov.ph. Furthermore, LRA Administrator Eulalio Diaz III recently opened a Certified True Copy (CTC) Kiosk in the LRA Central Office to decongest the Quezon City RD. This service is made possible to provide the Quezon City clients transaction convenience. The project is now on its fourth phase which will replicate the Land Registration Transaction Processing System in the remaining 57 RDs in the next eight months Within this period, all RDs, the Central Office, and the Computer Center will have full network connectivity such that information on any RDs is available at any other RDs or at the Central Office. The public can now look forward to the increasingly efficient and reliable service of the agency as the completion of the computerization project goes full swing. AVJ-REW
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T
he University of the East recently conferred the degree Doctor of Humanities, Honoris Causa, upon one of its sons, business tycoon Andrew L. Tan, on December 8, 2011, 2 p.m., at the Plenary Hall of the Philippine International Convention Center in Pasay City. The conferment coincided with the joint 13th Midyear Commencement Rites of UE Manila and UE Caloocan. UE has also recognized Tan as its Most Outstanding Alumnus in 2003 and as one of the 60 Most Outstanding Alumni in 2006, during the University’s first Diamond Jubilee celebration. Tan is the 28th individual to be conferred an honorary degree by UE, and the eighth UE alumnus to be bestowed such an honor. This marked the first time for Andrew L. Tan to receive an honorary doctorate degree. A 1974 UE Bachelor of Science in Business Administration graduate, magna cum laude, Tan has business interests in real estate, food and beverage, quick-service restaurants and integrated tourism under the umbrella corporation Alliance Global Group Inc. (AGI). By virtue of all the successes in various businesses and contributions to society, Dr. Tan has been the recipient of honors from various
Dr. Andrew L. Tan addressing the UE graduates.
Alumnus & Tycoon
Andrew L. Tan
Latest UE Honorary Degree Recipient entities, including the Quezon City government, which cited him as Businessman of the Year in 2004; the City of Taguig Award for Excellence in Business and Entrepreneurship in 2005; and by President Gloria Macapagal-Arroyo the Order of Lakandula, Rank of Bayani in 2010, for his outstanding contributions in the business community along with his numerous humanitarian and charitable endeavors. This year, he received from his fellow UE alumnus, Mayor Alfredo Lim, the Outstanding Manilan Award in Business Entrepreneurship and Management for his contribution to the urban renewal of the city The UE citation for Dr. Andrew L. Tan referred to him as “ A man who helped transform the urban landscape – and people’s lives – for the better …” To those of us who know how considerable and consequential his achievements are, Dr. Andrew L. Tan may well be spelled S-U-C-C-E-S-S, could be a synonym for “outstanding” or used as an emblem for achievement. Too poor, he had to walk from his home in Sta. Cruz, Manila to school because he wanted to save his jeepney fare. Then he made his first million just four years after graduating magna cum laude from UE, where he took up Business Administration.
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Today, 40 years later, Forbes magazine has him as the fourth richest man in the country with a personal fortune of close to 2 billion dollars ––the consequence of a bit of daring and a ton of hard work in running his business. Also cited were his successes in his businesses and his active number of causes through the Megaworld Foundation, the nonprofit corporate-giving arm of Megaworld. A special project of his is the scholarship program to help bright but needy students realize their dream of becoming architects, engineers, interior decorators and IT experts. And today, once more amidst honors he stands, this time from an institution which named him as Outstanding Alumnus in 2003 and one of its 60 Most Outstanding Alumni in 2006, an institution which he honors for having revolutionized education by making it accessible to all economic classes and for creating a new breed of command people who have enriched the nation in so many things in so many ways—his Alma Mater, the University of the East. With understandable pride, therefore, the University of the East confers the degree Doctor of Humanities, Honoris Causa, upon a son whose genius it helped sharpen into an instrument for the creation of what’s good, true and beautiful—Andrew L. Tan.
Below is the Acceptance Speech Commencement Address of Dr. Andrew L. Tan “I am proud to stand here today before the graduating students of UE Manila and Caloocan. You and I have something in common: We are all graduates of the University of the East. I received my Bachelor of Science in Business Administration diploma, magna cum laude, from UE way back in 1974. As a working college student, I walked from my 20-square-meter apartment in Sta. Cruz, Manila, to school along Claro M. Recto. For lunch, I often ate a banana cue that I bought for 30 centavos per stick along Gastambide Street. I am grateful to UE for giving me the kind of education and training that have helped propel me from my humble beginnings to where I am now. Thank you very much, my beloved alma mater. I am grateful as well to my country for blessing me with every opportunity to improve my fortune in life. Thank you very much, my dearest Philippines. Before anything else, may I ask you, the graduating students, to give yourselves a round of applause? I know how you feel at this very moment because that’s exactly how I felt when I received my own UE diploma 37 years ago. You must be asking yourselves: “What does the future hold in store for me?” I would like to take this opportunity to share with you some of my most valuable experiences in the almost four decades since I graduated from UE. I would like to summarize them into six pointers that I hope will prove useful to you in your chosen field.
1. Work hard from day one. After receiving your diplomas, many of you will look for a job and work for other people. That’s how I started, too. My advice to you is this: Whatever your work, always do it as best as you can. Never complain even if you are given a lot of work. When you are young, you have nothing to lose and everything to gain if you work hard. You will learn a lot of new things to add to your store of knowledge. You will develop your talents and skills, and grow into a worker who is tried and trusted. And your hard work will surely be appreciated and recognized by your employer.
When I took on my first job, I worked longer than my fellow employees. When my boss saw my enthusiasm, he just kept giving me more work, and I ended up working longer and longer. I received the same pay as the other employees who worked less, but I did not mind that because I learned a lot by working very hard. Finally, after two and a half years, my hard work was recognized, and I was promoted from staff to Manager to Vice President.
2. Have a vision and pursue it with a passion If you want to excel at something, you must know what you want to do and you must have a passion for it. I have always pursued my dreams with a passion. In college, I dreamed of opening my own grocery store, but I never really got to do that. I spent a few years selling home appliances instead. In 1979, I went into the distillery business by putting up a small liquor factory that I named Consolidated Distillers of the Far East. In 1989, I set up my own property firm, Megaworld. Through hard work and good fortune, Megaworld has emerged as the country’s foremost property developer. I am a businessman first and foremost, and I believe in doing business well so that my company will grow. I have invested in one business and, at an opportune time, re-invested in another new business. That is how my group of companies has created jobs for more and more people and given them a chance to lead better lives. That, I believe, is the best way to serve society. Through the Alliance Global Group that I chair, I have diversified from liquor manufacturing and real estate into other fast-growing industries such as tourism. We believe tourism is the next big thing for the Philippines. The first of our integrated tourism projects is Newport City. Newport City is home to Resorts World Manila, a tourism hub right across from Terminal 3 of the international airport. I started out in business with only five employees. Today, I preside over a group of companies that employs more than 25,000 people. But I remain as passionate about doing business and doing my share to uplift our country as I was on day one.
3. Be innovative. A good businessman knows that what is successful today may not be so tomorrow. That’s because as time and technology change, so do people’s needs and wants. Therefore, a good businessman is one who always adapts to change. Since Megaworld started 22 years ago, we changed the concept of residential property development from stand-alone condominium buildings to clusters of condominium buildings to integrated, live-work-play-learn communities. Today, after completing more than 230 buildings, we remain on the lookout for new ways to give our customers more value for their money.
Megaworld Corp. Chairman & CEO Andrew Tan (third from left) is congratulated by University of the East Vice Chairman Jaime Bautista after his alma mater awarded the tycoon a Doctorate Degree in Humanities, honoris causa, during their 13th midyear commencement exercises at the Philippine International Convention Center last December 8. Looking on is University President Ester Garcia.
Whether you go into business or pursue other things, you will do well to take this nugget of REAL ESTATE WORLD │ 91
wisdom to heart: Never rest on your laurels; keep on improving yourselves. Keep on learning new skills. Keep on finding new ways to do things better and better to stay on top of a changing world.
Dr. Tan with UE President Ester Garcia
4. Be prepared for the unexpected. Life is full of uncertainties, and no one can foretell the future. You may stumble upon an opportunity, or come face to face with a crisis. Call yourself lucky if an opportunity comes your way instead of a crisis. But you will meet one or the other at different times; that’s for sure. If you come across an opportunity, you’d better seize it and make the most out of it. If you encounter a crisis instead, do your best to overcome it.
6. Share your blessings.
When Megaworld saw the signs of a booming business process outsourcing market in the late ’90s, we orchestrated an office-building spree for BPO firms including call centers. We were the first to spot this opportunity and to capitalize on it in a big, big way.
Life is full of opportunities that lead to a better life. If you know how to look for those opportunities and make the most of them, you will find yourself moving up from one level to the next in your chosen field.
In the same manner, when OFW remittances kept going up year after year, we saw the opportunity to tap into the previously neglected mid-income housing market. We went into it in a big way through our pioneering urban township projects beginning with Eastwood City, a live-work-play-learn community in Quezon City.
Now, as your station in life changes, so hopefully does your attitude toward people. You become more generous and kinder to others. You become more willing to share your blessings to the less fortunate as a way of expressing your gratitude to God and society.
5. Don’t give up. Failures, especially major ones, dampen the enthusiasm of future achievers. My advice to you is never give up. Keep pushing on. If you fail, get on your feet and try harder. As a businessman, I have gone through the shock of a financial crisis not just once but several times. The first time was in 1983. The assassination of Ninoy Aquino plunged the entire nation into a state of political uncertainty and triggered a financial turmoil. I did not panic. In 1989, two weeks after I set up Megaworld and launched our very first project, the bloodiest coup attempt against the Cory Aquino government took place. Business ground to a halt. Suspending the project would have been the easiest thing for me to do, but I held my own until the business climate improved. That was one of the toughest challenges I faced as a businessman. In 1997, the local property business was booming when, all of a sudden, the Thai baht collapsed, triggering a financial contagion that spread across Asia. The Philippines, for one, was badly hit, and the local property market declined. Undismayed, we launched new projects to maintain our presence and enhance our standing in the market. Megaworld came out of the crisis stronger than ever. Looking back, I also had my share of failures early on in my career. Those failures taught me to learn from my mistakes. If I don’t make it in the first try, I should try harder a second or even a third time. If things had turned out right the first time around, I might not have worked harder to get what I wanted—and I would have never risen higher. Thus, the failures I encountered turned out to be blessings after all. 92 │REAL ESTATE WORLD
I believe in both doing well and doing good. One significant way I give back to society is through education. I believe education is the key to lead people out of poverty. Give a person of modest means the opportunity to be educated, and you give him the chance to improve his life. That’s the reason why my Megaworld Foundation offers college scholarships to bright and deserving young people as our No.1 priority. Today, the Foundation supports hundreds of scholars in 21 universities. You, too, can start applying this piece of advice and share your blessings right away. When you receive your first paycheck, be sure to share it NOT with your girlfriends or boyfriends, BUT with your parents. Remember, your parents should always come first. Today, you have in your hands the power to shape your future. The diploma that you will receive from our dear alma mater, the University of the East, is in itself a testament to your fitness to set out on your life’s journey, armed with the fundamentals to do well in your chosen profession. In closing, I am happy to share with you my humble experiences in life, and I hope they will inspire you to succeed… as an accountant… as a banker… as a businessman… as a marketing professional… as an IT specialist… as a media practitioner … as an artist as an engineer… as a tourism executive… or as an educator. My fellow UE graduates, congratulations and mabuhay! REW
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I
t’s yearend again. What has 2011 bequeathed to us, and what does 2012 hold? Those among us who have fun with date numbers will remember 2011 for bringing that once-in-a-century date that is 11/11/11. The year has obviously brought us more than that.
Ring out 2011 Here’s the really big news of 2011: the call for change rung loudly in streets across the world. The unraveling began early this year with the fall of Ben Ali in Tunisia, and then Mubarak in Egypt. And what has been called the Arab Spring has not yet run its course as resistance swells in Bahrain, Yemen, Saudi Arabia, Sudan, Morocco and even Israel. Unfortunately, large global forces would rather have all this amount to nothing, and even hijack it for their own purposes, as witness to what’s happening in Libya and Syria. Then there’s the European Spring, a tag Big Media shuns but better reflects what’s on the ground. Mass actions have flourished in Greece, Spain, France, Ireland, Italy, UK, and elsewhere. Some of the continent‘s leading neoliberal icons have fallen, among them Berlusconi of Italy, Papandreou of Greece and the ruling party in Spain.
have long taken a large chunk of our yearly GDP. But here’s what is quite remarkable: In spite of the worsening plight of the international economy, where millions of jobs were lost worldwide and tumult hit the U.S., the Middle East and Europe where millions of Filipinos work, these remittances defied gravity in a big way. This major money inflow reveals there’s quite a strong demand for Filipinos in what ought to be a hostile overseas labor market. More than ever, our OFWs are the singular prop of our otherwise unspectacular economy, effectively insulating the Philippines from the worst effects of the global economic depression, and of unsound local fundamentals. Complementing the big OFW money inflow is
local real estate industry, particularly in the mass condominium, housing and office markets. Seven of the country’s top property developers—SMDC, Megaworld, Ayala Land Inc., Shang Properties, Eton Properties, Vista Land and Century Properties—in fact reported sales boosts this year.
Ring in 2012 Thanks to the past success of a Hollywood film bearing next year as the title, expect a lot of media grist on 2012 being the year of the apocalypse.
2011 But nah, here’s one thing we’re sure of
next year: 2012 will bear the last of
ADIOS 2011
On the other side of the Atlantic, the Latin American Spring saw large youth protests over neoliberal education measures in Chile, the reelection of Sandinista Daniel Ortega in Nicaragua, and the formation of a new independent regional block. And then there’s the Occupy Wall Street movement that sprung in New York City in the U.S. and has now spread to at least 2,500 cities in more than 20 countries.
At the Philippine front In our country, the worldwide comeuppance and reckoning staring at the icons of neoliberalism found expression in the wave of corruption exposes under neoliberal ex-President Gloria Macapagal-Arroyo, culminating in her much-publicized “hospital arrest” for charges of electoral sabotage and the impeachment of her prime henchman, Supreme Court Chief Justice Renato Corona. In the meantime, this year’s big news on the domestic economic front is the continuing rise of overseas remittances, estimated to reach a record US$20.1 billion for this year. These remittances
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A
the rise of the Philippines as a vital hub for the global BPO (Business Process Outsourcing) industry. The unique combination of what one call center operator referred to as “attentive hospitality and attitude of care and compassion mixed with…Americanization” of Filipinos has made our country a global call center capital, earning in 2010 US$9 billion from the business that averaged 25 to 30 percent annual growth so far. That makes the BPO sector the next biggest contributor to the country’s GDP. These twin economic pillars propelled the
this century’s dozen triple identical number dates--12/12/12, to be exact. On a more substantive note, gloom will overshadow the globe economics-wise as the new year will likely ring in double-dip recession. That’s mainstream mediaspeak to say that the global economic depression that broke out in 2008 and never really left us since will languish and get worse. Europe’s ugliest financial crisis is set to peak soon as the people of the Eurozone countries brace for hard-time measures
2012
being imposed on them. Global trade is thus likely to get more anemic, and, if they
emasculating the rising social movement most everywhere, as seen already in Egypt,
ALOHA 2012
INVESTORS
year of the DRAGON don’t watch it, the BRICS (Brazil, Russia, India, China and South Africa) economies that were least affected by the global crunch the past three years will likely join the rest of the world in severely feeling the brunt this time around. For a time, the Philippines has been spared the worst effects of external doldrums. But it would be hoping against hope if Filipinos would be led to believe the national economy will be able to weather the looming double-dip. Worse, global leaders are showing their impotence in taking out the international economy from its most grim crisis ever. In fact, neoliberal interests are derailing and
Libya, Syria, Italy, Greece, Spain and Europe as a whole. The worst part of this will play out in U.S. mainstream politics next year, as Americans will likely be left with two intolerable choices for presidential candidates. People across the globe will more and more realize that, sadly, “the more things change, the more they remain the same”. Yes, the specter of a “lost decade” for the global economy and the international political scene looms.
Prospects for PHL And that may well be the same story for our country. Expect fiercer intramurals among rival establishment factions for private spoils and privileges as the midterm 2013 election approaches. And both the OFW money inflow and the BPO sector are vulnerable to a worse global downturn a la 2008.
The looming gloom notwithstanding, there still are some good prospects for the Philippines and the real estate sector here. There’s an even chance overseas remittances and the BPO sector will continue to save the economy from going through the worst. That means both the mass condo and office markets can still see some light ahead. Furthermore, growing concerns over safe investment havens will make Philippine real estate genuinely attractive to both local and foreign investors. It’s a fact that the local property market has proven resilient from wild price fluctuations ever since the 1997 Asian crisis. Moreover, there still remains in our country a hefty backlog of 3.7 million in housing. Thus, this prevailing sentiment: making real estate investments here and now assures buyers that prices of this asset class won’t decline, much less steeply plummet, anytime soon, and could even incline some more in the months and years ahead. The big players in Philippine real estate seem to be in on this “open secret”, as they are unperturbed by looming dark clouds and are set to roll out major projects in and out of Metro Manila in the coming months. SMDC, Megaworld, Ayala Land Inc., Eton Properties, and Century Properties all announced construction and development plans across the mass condominium, luxury property, office, hotel and retail markets. These projects are set to reshape the landscapes and skylines of Clark in Pampanga, Boracay, Cebu, Bonifacio Global City in Taguig City, Makati, and Quezon City. Among others, these include 600,000 square meters of new office space by next year that are likely to be taken up by the BPO sector, and about 10,000 new hotel rooms to become available by 2012-2014. All told, Filipinos at large and the Philippine real estate are in for quite interesting times as 2012 rings in. While we’re at it then, enjoy your holidays. REW
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MULTI-TALENTED INTERIOR DESIGNER GLOBALLY TRANSCENDS HIS DESIGN INTO THE
REALM OF FINE ARTS
EAST MEETS WEST WITH SPECTACULAR RESULTS!
M
ANNY SAMSON HONED HIS TALENTS FOR CREATING MEMORABLE INTERIORS IN LOS ANGELES CALIFORNIA WHERE HE LIVED AND WORKED FOR ALMOST TWO DECADES BEFORE MOVING BACK TO ASIA. HIS KNOWLEDGE ON THE USE AND ADAPTATION OF ETHNIC ART FORMS FOUND IN THE UNIQUE CHARACTERISTICS AND CULTURE OF A COUNTRY THEY ARE WORKING ON HIS DESIGN STRATEGY FOR SUCCESSFUL PROJECTS. ALWAYS INNOVATIVE, HE TRANSCENDS TRIED AND TRUE FORMULAS TAKING DESIGN INTO THE REALM OF FINE ARTS.
H
IS EASTERN SENSIBILITIES IN TANDEM WITH HIS WESTERN APPROACH INDELIVERING PROJECTS METHODICALLY, ON SCHEDULE AND ON BUDGET MAKE HIS STUDIO ONE OF THE BUSIEST IN ASIA. HIS SIGNATURE INTERIOR CAN BE SEEN IN THE CONTINENTS OF NORTH AMERICA, AFRICA, AUSTRALIA, SOUTH AMERICA, AND OF COURSE, ASIA.
LIST OF Ritz Carlton –Bali, Indonesia Intercon Mid Plaza –Jakarta, Indonesia Holiday Inn –Penang, Malaysia Sheraton Beach Resort –Langkawi, Malaysia Holiday Inn –Silom, Bangkok Thailand Holiday Inn Golden Mile –Hongkong Westin Resort –Bali, Indonesia Sheraton South Gate –Melbourne, Australia Royal Orchid Sheraton Hotel –Bangkok, Thailand Holiday Inn Park View –Singapore Westin Resort –Guam, USA Luxury Collection Hotel & Spa –Nusa Dua, Indonesia Sheraton Senggigi –Indonesia Sheraton Bandung –Indonesia
MANNY SAMSON
PROJECTS
Sheraton Surabaya –Indonesia Shang Salcedo Place –Salcedo, Makati, Philippines Samal Island Resort Davao –Samal, Davao Solaire Hotel and Casino – Paranaque City Shangri-La Fort Manila Horizon Homes –Fort Bonifacio, Taguig Case Verde Retreat –Angeles, Pampanga One White Beach Villa –Boracay, Philippines Ascott Residence –Fort Bonifacio, Philippines Saint Francis Shangri-La Place -Mandaluyong, Philippines Horizon Homes Shangri-La Place –Fort Bonifacio, Midas Hotel and Casino –Roxas Boulevard, Philippines Arthaland Residences –Fort Bonifacio, Philippines Hamilo Coast Resort, Pico de Loro Country & Beach Club Nasugbu, Batangas, Philippines
Taal Vista Hotel & Spa –Tagaytay, Philippines Holiday Inn –Tirupati, India Holiday Inn –Shirdi, India Holiday Inn –Nagpur, India Surfers Paradise Marriott Hotel –Queensland, Australia Paradise Villa –Nusa Dua, Bali Indonesia Yusuf Mansion –Honduras, Central America Samabe Villas –Nusa Dua, Bali Indonesia Luxury Collection Laguna Villas –Bali, Indonesia Chibi Hot Spring Resort Hotel –Wuhan, China St. Regis –Bali, Indonesia Hotel Imperial The Luxury Collection –KL, Malaysia Westin Resort & Spa –Langkawi, Malaysia
MANNY SAMSON & ASSOCIATES LOS ANGELES 96 │REAL ESTATE WORLD
MANILA
BALI, INDONESIA
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A A Day Day of of Tourism Tourism Experience
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t was an early Saturday morning when we joined the Zoomanity staff and officers for a fun trip and soft launching of the Paradizoo Farm in Mendez, Cavite. Upon arrival we were greeted by the officers headed by Robert Yupangco, President & CEO of Zoomanity Group, Sid Laforteza COO, Evy Raquion, Advertising and PR Head and some foreign visitors from Australia and Canada, and the Hon. Mayor Manuel L. Romera of Mendez. We were treated with hot native chocolate and ginger-pandan tea ‘salabat’ in Pilipino, ‘puto’ or rice cake, and ‘pares’ beef stew. Quite delicious meal. The climate is cold, and nature appears at its untainted best—with both flora and fauna co-existing in harmony in this 11-hectare agri-tourism enclave. If you are an agriculture enthusiast, there are a million and one things to discover in Paradizoo. There are activities to interact with a llama, camels, miniature horses, ostriches, Greyhound and Labrador dogs. You can also ride a cart drawn by an albino carabao. There was a short ceremony and cutting of the ribbon by the Mayor of Mendez assisted by Robert Yupangco and Sid Laforteza. You will enjoy nature in Paradizoo while spending leisure time with your family and friends. The place is full of rich gardens and animals. Some are roaming free to your delight, others are behind their fences. At Pet Me Home, guests may buy cute and cuddly animals such as rabbits, hamsters and lovebirds. See and buy Dorper sheep (black
head, white head or Dalmatian color combinations), Boer, Kalahari and Saanen dairy goat, Russa spotted deer and turkey from Australia which are also available for sale. At Plant Me Home features potted herbs, strawberries, flowers and vegetable plants available for sale. Guests may also select and pick vegetables from the garden plots to take home. Paradizoo actively promotes healthy living and encouraged to practice organic farming. Some of the sharing and learning that Paradizoo offers under the agri-tech project is known as clean vegetable farming practices and innovative techniques on seedling propagation, plant nutrition, cultural management, irrigation and water management.
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Almost all of the animals in Paradizoo are for sale. Honeybees and honey-pineapple vinegars are also being merchandised. Paradizoo is a gem of a destination – with an Apiary House where honey is cultured and sold, a Quail House and Hatchery for ostrich eggs and ring necked pheasants, a Pet Cemetery where Manila folks have began to bury their four legged loved ones, a Sunken Garden and a formal garden for those breathtaking photographs among the blooms, and papaya grove. For adults, there are the Bromeliad and Orchid Pavilions which are events-oriented which can house 150 people for picnics and family outings, weddings and birthdays, school celebrations, team building seminars and outdoor fun. Nearby is a meditative area, so very Zen, with its central focus, the infinity pool of positivism. Ducks splash in the water and with the breeze gently blowing, the quiet only broken by animal sounds and children laughing, it is an area conducive to meditation and contemplative and inspirational workshops. It was in this area where the main dining hall is located where we enjoyed and very sumptuous buffet of Filipino foods. After our feast at lunch, the guests were brought to Residence Inn Tagaytay, a resort famous for its Mini Zoo and its excellent location overlooking the majestic view of Taal Lake and volcano. Located 56 kilometers south of Manila, this idyllic ridge city near the southern part of Cavite is blessed with crisp and cool mountain air throughout the year.
and spend a day or a weekend in this city.
Tagaytay known as second summer capital of the Philippines is located 2,250 feet above sea level having an average temperature of 22.7 degrees Celsius. The local and foreign tourists have the opportunity to escape the heat and bustling city
Just an hour’s drive from Manila one can enjoy a stunning view of Taal lake and volcano from the view deck rooms. The showcase of exotic animals, birds and serpents at the Mini Zoo never fails to amuse our guests. The Mini Zoo has Serpentarium, Birds Aviary, Honey Bee Farm, Bonsai Garden, Game Room, Activity Area, Playground, Souvenir Shops and Food Kiosks. There’s an amazing magic and pantomime show during weekends and holidays. A great place is never complete without great food. The restaurant serves up deliciously unique dining experiences with menus featuring fresh, local ingredients from growers and artisan food producers from Paradizoo Farm. Residence Inn provides rooms for overnight accommodation. It also offers an ideal venue for planning sessions, conferences, and seminars. Each function room can accommodate a maximum of twenty five (25) delegates. After the enjoyable magic and pantomime show, the invited guests headed back to the city.-- AVJ REW
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REAL ESTATE TRUSTED TRADE REFERENCE WITH A GLOBAL REACH
WORLD
PRC REAL ESTATE SERVICE
PROFESSIONALIZING THE REAL ESTATE SERVICE PROFESSION CYCLE COMPLETED
The Real Estate Service Act of the Philippines (RA 9646) an act regulating the practice of real estate service in the Philippines was signed into law on June 29, 2009 and became effective after its publication on July 30, 2009. It aims to recognize the vital role of the Real Estate Service practitioners in the said political, economic development and progress of the country. It intends to promote the real estate market, stimulate economic activity and enhance government income from real estate-based transactions. Thus, it will develop and nurture a corps of technically competent responsible and respected professional real estate service practitioners whose standards, practice and service shall be globally competitive and shall promote the growth of the real estate industry. The Implementing Rules and Regulations (IRR) after thorough consultation with the stakeholders all over the Philippines became effective August 9, 2010 after its publication that triggered the start of the full implementation of RA 9646.
DR. EDUARDO G. ONG Chairman, Professional Regulatory Board of Real Estate Service
The Professional Regulatory Board of Real Estate Service (PRBRES) upon appointment by the President of the Philippines has buckled down to work and divided the tasks into thee (3) phases. The first phase was devoted into consultation with the concerned stakeholders in the real estate industry. It dialogued with at least 25 real estate organizations and national associations involved in the practice, on the provisions of RESA Law. Inputs and suggestions were solicited to be able to craft a judicious, fair and equitable implementing rules and regulations. The second phase focused on the implementation of Section 20 of RA 9646 which was the “Grandfather Clause” licensing without examination. Those qualified to avail of the grandfather clause are those duly licensed with the Bureau of Trade Regulation and Consumer Protection (BTRCP) of the Department of Trade and Industry (DTI) as Brokers, Appraisers and Consultants. They were eligible for conversion of their DTI license to PRC license upon compliance with PRC requirements on licensing. Also covered are the government assessors, assistant assessors and appraisers in the government service. To date, the PRBRES has duly issued licenses to 15,239 professionals as of December 31, 2011, 12,434 brokers, 2,732 appraisers, and 73 consultants. The third phase is the continuing process. It will be the regulation and development stage. The PRBRES mandated by law not only to license practitioners but also to continuously develop, supervise and regulate the Real Estate Service practice. With the accreditation of the Philippine Institute of Real Estate Service Practitioner (PHILRES) as the professions’ Accredited and Integrated Professional Organization (AIPO), the stakeholders can expect a gen the operationalization of the CPE Council and the final endorsement of the Professions’ Code of ethics and responsibilities. The first licensure examinations for brokers, appraisers and consultants were successful with additional licensed practitioners admitted to the fold of the Real Estate Service Profession. Indeed, 2011 was a satisfying year despite challenges and flaks along the way, the PRBRES has moved on to fulfill its avowed tasks to contribute its humble share in the professionalization of the Real Estate Service practice. The first cycle has been completed and we look forward to the second cycle in 2012 full of optimism and hope for a highly Philippines professionalized Real Estate Service practice. REW
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REAL ESTATE TRUSTED TRADE REFERENCE WITH A GLOBAL REACH
WORLD MAGAZINE
Presents
Cherry Blossoms PHILIPPINE - JAPAN PROPERTY SHOW MARCH 22 TO APRIL 04, 2012
TRUSTED TRADE REFERENCE WITH A GLOBAL REACHii
TOKYO YOKOHAMA FUKUOKA KOBE HIROSHIMA IN PARTNERSHIP 102│REAL ESTATE WORLD
OSAKA UMEDA NAGOYA NIIGATA HOKKAIDO
P
ilip Property Design and Management was founded based on the long years of experience in the real estate industry by two key personalities Mr. Kawamuro and Mr. Ichimura of Japan.
Passionate about design and lifestyle, they decided to form the company last 2011 in the Philippines to elevate the quality by simply adding or minimizing designs. Some of their specialty is room renovation and thematic innovation on the property. They believe that even a simple unit can have a fascinating ambiance by simply reinventing the design. The potential buyers who invested so much in a condominium unit are their potential market to provide them with their vision. Another service they also offer to potential customers is the offering of tourism properties. This is a combination of property scouting while enjoying tourism on the side,.They are supported by Department of Tourism’s licensed tourist guides assisting them in their tourism trips..
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Philippine ADCONGRESS22 CWC Camsur last November
The theme: “Change the Game”
H
oused in the CamSur provincial capitol complex, it is known as the country’s top cable ski park and is a popular choice among wake boarders around the world. The CWC was also distinguished for being the most fun and “in” place at the moment and preferred location of top international sports competitions.
Inquirer. “It is in synergy with the theme for this year’s Ad Congress and will help purr local tourism, an advocacy the industry is promoting,” Romualdez added.
The event, organized by the Advertising Board of the Philippines, brought together the country’s top business, advertising and media firms to the fast-rising local tourism destination CamSur
With its novel appeal, uniqueness and bright tourism potentials, CamSur proved to be the best choice for the event. Another major factor considered by the organizers in picking CamSur was the readiness of local government’s support, owing to CamSur Gov. Luis Raymond “Lray” Villafuerte’s spirited and highly successful drive to promote tourism in the area.
After months of thorough deliberations on possible venues for this year’s Ad Congress, organizers have picked CamSur as the venue for the ad industry’s muchawaited biennial meet. “We’re very excited about CamSur because the Ad Congress has never been held there,” said Sandy Prieto Romualdez, chairman of the 22nd Ad Congress and president of Philippine Daily 106│REAL ESTATE WORLD
The theme of the 22nd Ad Congress is “The Game-Changing Generation.”
It is largely to Gov. Villafuerte’s credit that CamSur tourism has grown by leaps and bounds over the last few years. The province’s crown jewel, Water sports Complex (CWC) in Pili City, has hosted top international sporting events such as the Iron Man 70.3 and a slew of international wakeboarding competitions. Nearby Caramoan Island, on the other hand, served as the site for the location shoot for the reality TV show Survivor
France series in 2008, and has been on a roll wowing local and foreign tourists. Sandy Prieto-Romualdez headed the formidable committee team composed of BluePlade Technologies’ Hans Roxas Chua, Vice Chair; J. Romero’s Andre Kahn and Fat Lion’s Jose Sy, Oversight Committee; Alaska Milk’s Bien Fernando, Administrative; McDonald’s Margot Torres, Programs; DM9’s Merle Jayme, Creatives; Dentsu’s Nona Nanagas, Finance; Starcom’s Joanna Mojica, Ways and Means; Philippine STAR’s Miguel Belmonte, PR and Publicity; Manila Bulletin’s Emil Yap III, External Affairs; Inquirer’s Connie Kalagayan, Internal Affairs; Business Mirror’s Anton Cabangon and Ricky Alegre, Special Events; and Hinge Inquirer’s Doris Bermudez, Secretariat. Over 2,000 delegates from the United Print Media Group, Independent Blocktimers Association of the Philippines, Outdoor Advertising Association of the Philippines, Mobile Marketing Association of the Philippines, Cinema Advertising Association of the Philippines Outdoor Advertising Association of the Philippines and other local and foreign delegates attended the event. Gov. L. Ray’ Villafuerte of Camarines Sur [CamSur] said that the provincial government was “very much prepared” for the Ad Congress. “The event will feature great speakers, parties, as well as promote the province’s white sand beaches, pristine areas and nature,” Villafuerte added.
Ms. Sandy Prieto-Romualdez AdCongress22 ExCom Overall Chair, Governor Lray Villafuerte, Andre Khan Adboard Chairman and President of J. Romero
Activities and games for the “game changing” event include wakeboarding, cheer dancing competition and wacky fun run. Speakers invited to inspire the delegates were Charlene Li; Patrick Shult; Laura Wendt; Brillante Mendoza; giant television heads lawyer Felipe Gozon,Eugenio Lopez III, Manuel V. Pangilinan; Joeri Van den Bergh and Mark Tutssel. AVJ-REW
TOURISM SECRETARY RAMON “MON” JIMENEZ KEYNOTE SPEAKER ON OPENING CEREMONIES “The Philippines is not a place to see. The Philippines is the place to be,” said Sec. Jimenez.
The opening ceremonies of AdCongress22 are set to get the advertising industry’s most important event off the ground running. Proclaimed the first ever digital ad congress in its history, AdCongress22 opens with a 360-degree video presentation specially prepared by the programs committee. Secretary Ramon “Mon” Jimenez of the Department of Tourism then comes up the stage for his keynote address. An ad man by profession and a highly regarded veteran of the advertising industry, Sec. Jimenez’s presence in AdCongress22 is an inspiration. He was recently chosen by the President among many candidates to lead the Department of Tourism, showing that advertising practitioners can affect the Philippines in positive ways. However, to the advertising industry he will always be “Mon J”. With the theme “Change the Game”, as AdCongress22 officially launched the event, the industry will felt the energy of change. “I love this theme, “as Secretary Jimenez praised the team of organizers. “ I congratulate the organizers of this Advertising congress for selecting this theme. It is more than people realize, relevant and timely. It is a theme that commands attention because it provokes thought, compels us to ask basic questions of ourselves and of our organization. It places the Filipino where he is rarely at most of the year. It places us a competitive frame of mind. I love this theme. This attitude has been long in coming to the Filipino.” “The Philippine advertising and marketing community is definitely the oldest and most experienced community in this part of the world. Manila was a TV market even before some countries in Europe. It is therefore fair to say that we are part of a bunch of professionals that set the rules of the game in Asia. Well, it is time to change the rules of the game again. Change the game, change our future. Make this ad congress count.” “When you change the way the game is played, you change the world. You change the future. I can’t think of anything more worthwhile,” says Secretary Mon Jimenez. (continued to page 108 )
The big crowd showed so much energy despite the tiring 10-hour ride to Cam Sur
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(continued from page 107 )
The Ceremonies was started by Miss Universe 2011 3rd runner-up Shamcey Supsup led the invocation. The National Anthem was rendered by the Maasinhon Trio, then who followed by the entrance of representatives of the member-organizations of Advertising Board of the Philippines took the stage for the parade of colors. Governor Lray Villafuerte gave welcoming remarks, his gratitude and pride evident in his words. “Thank you for choosing us, against all odds,” he said. Organizers and chairpersons of the ExCom were seated. The Adboard Chair Andre Kahn, President of J. Romero was optimistic on the outcome of the convention as the delegates have shown excitement and enthusiasm over this year’s theme. Everybody believed it is now time for change and they know they can. It was only after two days, the convention already succeeded in an encouraging game-changing mindset among the attendees. The AdCongress ExCom overall Chair Sandy Prieto-Romualdez, President and CEO of Philippine Daily Inquirer also delivered a speech centered into two aspects: gratitude among the ExCom members and teams, and inspiring everyone in attendance to be the game-changers that they are. “It is either we let the game change us, or we change the game,” she said.
even more. The next couple of days should be mindset-altering for all in attendance, ultimately benefiting the crazy, exciting, game-changing industry that is advertising. Next up, the Plenary Speaker, bestselling author of ‘Groundswell’ Charlene Li, discussed “Harnessing the Power of Social Media.” She focused on the social trend in which people use technologies to get the things they need from each other, rather than from traditional institutions like corporations”. Her strategies are simple, and they start with listening and talking – the basics of good communication that never go out of style no matter how resolutely the world has gone digital. Charles Cadell, Regional Managing Director of McCann Worldgroup expounded also on Social Media and How I Changes the Game to Brand Communications while Patrick Schult, Chief Executive Officer of FremantleMedia Asia presented the Branded Entertainment.
In Sandy Prieto-Romualdez’s speech, she stressed that the AdCongress22 has been the most wired congress to date. How’s that for gamechanging? If the opening ceremonies can be this compelling, it’s not difficult to imagine the rest of the plenary sessions to be the same,
From the creators of Amazing Race, But, what’s life without fun and surprises? Enter Gregory Ho, Vice-president and General Manager for Animax Asia, who takes the place of Ricky Ow, AXN’s SVP. Sharing the stage with Disney Channel’s Laura Wendt, the tandem tackle “The Importance of Changing Content to Respond to Audience.” The open forum turned back to the local side, “Learning from Filipino Game Changers” with Boy Abunda and Bianca Gonzalez as the Moderators. The Panelist, Brillante Mendoza, Film Director; Kenneth Cobonpue, Industrial/Furniture Designer; Alexander Charles Luis Borromeo, Captain, Team Azkals; James Joseph Youinghusband, Midfielder, team Azkals. AVJ-RE W
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his session alone should be enough to convince marketers, advertising practitioners and all media professionals to attend the event!
extremely paranoid,” Pangilinan jokingly said.
The historic encounter of the country’s three rival television networks at the 22nd Philippine AdCongress, the biennial gathering of advertisers that this year has chosen the theme “Changing the Game.”
In response to a question from TV5 news executive Luchi Cruz-Valdez, Lopez said TV5 was a competitor “not to be taken for granted.”
ABS-CBN, GMA 7 and newcomer TV5 may be in a deathly race against one another for ratings, but their chief executive officers (CEOs)—Eugenio Lopez III, Felipe L. Gozon and Manuel V. Pangilinan, respectively—for the first time stood side by side on one stage to share their thoughts on the future of television and media. The three media giants not only shared similar beliefs on the need to keep up with changing technology but also in their confidence about the future of the broadcast industry even if there are now three major players competing for advertising revenue. Pulling off this coup needed a dash of charm – and a chockfull of chutzpah. “We were dared by the inconceivable,” says Margot Torres, Programs Committee Chair. “We knew it wouldn’t be possible to get Gabby, Atty. Gozon and MVP together in a small event. So, how about getting them together in front of more than three thousand people in the ad congress? And in CamSur at that!” she adds. In fact, Lopez admitted to having changed his mind about his belief that a third major player would mean a shrinking advertising pie and diminished profits for television networks, noting that ABS-CBN’s revenues have not fallen despite the entry of TV5. Pangilinan, who spoke before Lopez, earlier said that GMA 7 and ABS-CBN “should worry about us because we are the certified No. 3.” However, he said he did not know which of the two other networks was No. 2, eliciting laughter from the audience. “Just thinking being stuck in third place has made me 108│REAL ESTATE WORLD
Lopez, Gozon and Pangilinan were given about 15 minutes each to make their presentation and another 10 minutes to answer questions from personalities from the rival networks—with GMA’s Mike Enriquez grilling Pangilinan and ABS-CBN’s Korina Sanchez posing questions to Gozon. In their speeches, the three CEOs presented their views on the role of television in the digital age where the development in technology has been unprecedented. “In the next ad congress, which is two years from now, we will be talking about media revolutions caused by technologies that don’t even exist today. Or not even imagined today,” Lopez said.
THE MOGULS OF TELEVISION a Three-some at AdCongress22
All the TV Network chiefs shared the stage at the successful recently-concleded Philippine AdCongress22 held in November 16-19, 2011. He said that even if many think that the future of media is unknown, ABS-CBN would still know where to go because the motto “Service of the Filipino,” is their guiding light. Lopez said ABS-CBN, which celebrates its 60th anniversary next year, had connected to Filipino audiences all over the world through all kinds of media platforms. “This gave us the privilege to know so much more about their nature and their aspirations. And that is why we can make this assumption: The future of media may appear to be technological, but at its core, it will remain emotional,” he said. According to Lopez, ABS-CBN will have more digital offerings that are multi-touch hubs of information, experiences, services and conveniences. “We believe that technology will change everything, except the human nature to crave for recognition, affirmation, connection and inspiration to be the best that they can be for self-fulfillment, for family and for community,” he declared. Gozon said television has reached its defining moment because of fastevolving digital technology which has made for endless possibilities. “Content made for television can now be seen in at least three streaming— the television itself, the computer and the mobile devices. It has also broken new ground in social networking, so that digital citizens of the world can traverse all media seamlessly,” he said. Gozon said technological companies like Google and Apple recognize that the video viewing experience is at its best on a larger television screen, which he said has led to the aggressive development of gadgets (Zen tap boxes) that allow for the streaming of video content. He said even the television set had morphed and converged into computer and television technology. “As the World Wide Web is bursting at the seams, it will use entertainment, information and everything else in between. Social networking sites
Facebook and Twitter, and search engines Google and Yahoo have become million-dollar game changers that simply blow our minds,” Gozon said. He said social TV is one of to day’s buzzwords where some viewers don’t just sit back in couches and watch shows but let their friends know in real time what they are watching. Gozon said TV applications have also allowed viewers to comment on a show in real time, look for information about the show and even take a closer look at products that are being advertised. “Digital technology has given consumers more opportunity to control their lives. The viewers now have a say when and where to watch the shows that matter to them,” he said. With television still the cheapest form of entertainment to some 94 percent of television-owning Filipino households, Gozon said it will remain the “medium to beat for many years to come if it continues to provide superior entertainment and remains the medium of the vast majority of Filipinos.” Pangilinan introduced a fictional 22-year-old Christine in his speech to drive home the point that the digital age is here to stay, with the youth as the targeted market. Pangilinan portrayed Christine as a young woman who wakes up hooked to her digital gadget and computer which are indispensable in her daily life. “So that’s Christine, [tuned] not to the past but the present and the future. That’s our model today and our future,” he said. “Indeed, the Internet has changed the way we’re thinking, changing the way we act, changing our habits,” he said. Pangilinan said that the test of the success of a network is how it can improve and empower the lives of viewers. He stressed that the duty of the media industry is to police standards to ensure that these would affect positive changes. AVJ-REW REAL ESTATE WORLD │ 109
CAMSUR
SURPASSED BORACAY’S POPULARITY-NOW A TOP TOURIST DESTINATION
A
fter being featured in several reality shows abroad, CamSur has apparently surpassed Boracay’s popularity and has become the country’s top tourist destination. The data from the Department of Tourism (DOT) show that among the country’s tourist destinations, CamSur got the most number of visitors aside from Cebu in 2009. It posted a total of 1,566,477 foreign and domestic visitors in 2009 as compared to Cebu’s 1.6 million tourists. While Cebu recorded the biggest number of visitors last year, CamSur posted the biggest growth of 117 percent in the number of tourists. In 2008, CamSur only generated 946,639 foreign and domestic tourists. Boracay, meanwhile, got 721,024 visitors last year from 634,262 the previous year. Local and international events such as the First Aqua Fest Celebrity Challenge, Ironman 70.3 Triathlon, International Dragon Boat Competition and Bagasbas Summer Surf boosted domestic visitors to CamSur by 140 percent to 1.3 million, while foreign tourists went up by 56.1 percent. The Camsur Watersports Complex (CWC) and the Eco Village first shot to fame via the pioneer reality TV show Survivor. Set against the breathtaking Caramoan peninsula, the six-hectare CWC is fitted with top-of-the-line facilities and modern technology for the up-to-date traveler The 32nd and 33rd energetic Provincial Governor Hon. Luis Raymond Villafuerte Jr., who is also known as Gov Lray who served in 2004–2007 and 2007–Present after his father’s fourterm tenure, envisioned this project and made the place famous worldwide. 110│REAL ESTATE WORLD
Camsur Watersports Complex is a unique watersports park designed for wakeboarding, wakeskating and waterskiing. From beginner riders to the professional wakeboarders and skiiers from all over the world, CWC offers a six-point cable ski system, coupled with restaurants, sand bars, spas, pro-shops and grand stands to hold guests. Riders can also enjoy their favorite water sports at night as the park is equipped with spotlights that allow it to be open on evenings. A place like no other. Camsur Watersport Complex (CWC) is not your ordinary wakeboarding site as this place has become the Philippines’ and Asia’s mecca of the vastly growing water sport. There are many reasons that confirm its lofty billing, and one of which is the state-of-the art facilities sprawling in the six-hectare land. Arguably the most popular watersport site in the country. One of the recent competitions that was held here was the Ironman 70.3 Philippines, a triathlon event which drew a bevy of blue-chip international competitors. Nestled within the Provincial Capitol Complex of Cadlan, Pili, Camarines Sur, CWC may be reached via a three-minute drive from the Naga International Airport. Foreign wake boarders include this site in their radar for its total and satisfying services that include free basic and safety instruction by CWC’s resident instructors and operators. World class obstacle courses are also laid out along the area waiting for brave souls who want challenges and adventure. Aside from the wake boarding area, visitors may also enjoy soaking in the sun while eking out a high-powered volley action in the beach volleyball court. Camarines Sur, (Filipino: Timog Kamarines) popularly now known as CamSur is a province located in the Bicol Region in Luzon.
Its capital is Pili and the province borders Camarines Norte and Quezon to the north, and Albay to the south. To the east lies the island province of Catanduanes across Maqueda Channel. CamSur lies at the center of the Bicol Peninsula. The province is also the largest in the Bicol Region. At the center of the province is Bicol Plain. Surrounding it are mountains, two of which are Mount Isarog and Mount Iriga. The eastern part of the province lies on the mountainous Caramoan Peninsula, which faces the island of Catanduanes to the east. Caramoan Island is known as the secret paradise in the Philippines, a place that not many people hear about or know where it is. Most people instead tend to crowd to the nearby Boracay, leaving Caramoan in the corner – perfect for those looking for a paradise just for themselves off the beaten track. The island started getting some attention a few years ago when the French Survivor TV show started shooting there, and this year the Israel Survivor show will also be using the same location. The reason why these islands are such a popular shooting location for Survivor is because they want their contestants to feel far away from civilization – which is it’s a wild paradise virtually untouched. The largest among the six provinces in the Bicol Region both in terms of population and land area, CamSur encompasses two cities: Naga City, the lone chartered city, is the province’s and the region’s commercial, educational, financial, and cultural center, while Iriga City, a component city, is the center of the Rinconada area. Being in the Bicol Region, the main language spoken in CamSur is Bikol. Filipino linguists consider the dialect of Bikol spoken around Naga City, Bicol Central, the standard Bikol easily understood by all Bicolanos, also known as Bikol Naga, not to be confused with Bikol Canaman, the purest dialect of Bikol according to Jesuit Anthropologist Frank Lynch, S.J.). Some of the other dialects
spoken in the province are Buhi-non (a dialect of Bicol Albay), spoken in the southern part of the province around Lake Buhi, and Rinconada Bikol (also known as Bikol Nabua), which is used in the area around Nabua. A dialect of Naga Bikol, called Partido is used in the eastern portion of the province around Lagonoy Gulf. Most inhabitants understand Tagalog and English. CamSur’s Our Lady of Peñafrancia Church in Naga has a yearly visitors from all over the Philippines to celebrate its feast. There are also 19th century churches in Goa, San Jose and Sagñay. Lake Buhi is where the smallest commercially-harvested fish can be found, Sinarapan There are two active (or considered dormant) volcanoes with trails: Mt. Isarog and Mt. Asog. The beaches of Sagñay and Caramoan have coral reefs, and white and black sand beaches. Naga City is noted for its night life. CamSur is subdivided into 35 municipalities and 2 cities. The Concocep Falls can be found in Hanawan, Ocampo. Libmanan has the Malinaw Nature Resort and Brgy and Palong’s water source at the base of Mt. Libmanan (Tancong Vaca). In Del Gallego, in the Northwestern part of the province is e Kilbay Park. It was here when President Manuel L. Quezon hammered the golden nail into a big rock, symbolizing the connection and link of the Philippine National Railways going to Manila in 1937 The province has changed the tourism game, rising from obscurity to become the adventure destination for countless local and international visitors hunting for the next big thrill. That includes the 22nd Philippine Advertising Congress. Last November 16-19, 2011, the Philippine Advertising Congress 22 delegates and industry heavyweights tripped to CamSur CWC converged and showed their dynamic talents towards the accomplishment of the theme “Change the Game.”AVJ-RE W
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GeiserMaclang Communications Garners ‘Stevie Awards’ T
he International Business Awards, popularly known as the ‘Stevie Awards’ has awarded four Filipino companies for excellence in marketing communications in Abu Dhabi recently. GeiserMaclang Communications, Inc., PJ Lhuiller, Inc., Philip Morris & Fortune Tobacco Corporation and San Miguel Corporation which competed against organizations from 35 other countries. “ I am privileged to receive this social marketing communications award that honors Manny Pacquiao, the greatest boxer in history; Unilab, makers of Alaxan; and Filipinos all over the world,”, said GeiserMaclang Communications, Inc. Director Amor Maclang upon receiving the “Distinguished Honoree” distinction for the category Communications Campaign of the Year-Marketing- Consumer Products for the “Aray ko, Galing ko” campaign, which celebrates the Filipinos competitive spirit, unwavering passion, and determination in all fields of endeavor. She shares that in the case of Alaxan’s “Aray ko, Galing ko,” the campaign was driven by the insight that hard work pays off “While there are celebrities and icons, the country is actually built on the blood, sweat and tears of the Filipino worker.” The campaign thus saw the first ever installation to Manny Pacquiao (15-foot bronze monument at the SM Mall and the launched of the “Toughest jobs in the Philippines” initiative.
AMOR MACLANG
112│REAL ESTATE WORLD
“This award is not just for GeiserMaclang, but for the Philippines, the country which is emerging to be the hotbed of marketing communications and digital marketing in Asia and the world.”
THE IMPORTANCE OF PUBLIC RELATIONS IN REAL ESTATE INDUSTRY AN INTERVIEW WITH AMOR MACLANG 1. How important is the role of Public Relations for Real Estate Developers? All of the things that we’re doing are to help the public appreciate the real value behind a project or development, which goes far beyond product description. With PR, it will always more than just the physical building or establishment-- it’s about how we foster a sense of identity, introduce a new lifestyle and create opportunities within the communities that we touch. For example, in our work for Ayala Land, we have been tasked with the rebranding of the city of Makati and anchored on the theme “Make it Makati,” we’re pushing for Makati to be at par with other great cities in Southeast Asia and to be a microcosm of what the Philippines can become. Meanwhile, on a more regional scale, we are also handling the tourism efforts of Bohol and we’ve found ways by which we can integrate arts, history, and even spirituality into the tourism mix; thereby creating more opportunities both for the locals and the provincial government itself.
2. What are the advantages of having a reputable Public Relations company in handling real estate projects?
BY: RENNE ISIDRO
Bohol through the boutique resort, Amorita. Meanwhile, from a more macro perspective, we’re also involved with city developments such as the Makati-Ayala Center Redevelopment and Cebu’s Cebu Park District.
4. Please give us a brief history of your company and the awards you have received. Directly responsible for many, often duplicated methods and techniques in the industry, GeiserMaclang was the brains behind developing creative 3D invites that have become a recognized GeiserMaclang trademark among the media, hosting the very first blogger event held in the Philippines, and even the very first viral social email promotion to consistently drive in walk-ins and sales as well introduce a new generation of national awareness days. A point of pride for the company is that it has never won an award for a campaign that the company didn’t design. More importantly, the awards that GeiserMaclang have won are not only from the PR industry but straddles different marketing niches—tackling the industry—as a whole. This is very important given, as GeiserMaclang has never forgotten their first Binondo-based clients who gave the company that freedom to come up with crazy ideas, so long as they produced real results. This trait is something that multinational organizations that we now represent and come to value.
A reputable PR company is just like any other reputable business—it has strong relations with its stakeholders and it stands behind its work. It also presents a better platform by which we can explain the value behind a project, given that ads can only say very little. In real 5. Can you give us your personal background, how estate, it’s important to clearly differentiate one development from you excelled locally and compete globally? the other, and a PR agency gives them the opportunity to do so and tailor-fit communications for their different stakeholders--whether We are very fortunate to have had the opportunity to lend our its the community, government, general public, target audience or distinct brand of marketing and public relations across the region, media. specifically Singapore and Malaysia. GeiserMaclang is also one of AMOR MACLANG, JULES VELOSO AND RENNE ISIDRO the innovators and pioneers of 3. What companies do digital PR in the Philippines. you represent which With marketing and public are related to Real relations going digital, it gives Estate such as furniture, us an opportunity to tap a appliances—aside from global community that can be the developers? reached from anywhere. We are very proud that through our We represent Ayala Land’s Ayala team’s hard work and our client’s Land Premiere, Alveo Land, Bella support for our ideas we were Vita and El Nido, Abenson able to establish international as well as Mos Design. We recognition through the award were also primarily responsible we received for our Toblerone for the Batanes project a few “Thank You Day” campaign and years back and right now, we’re most recently, for having won handling the tourism efforts of the Stevie Award for Alaxan’s Aray Ko Galing Ko campaign. REAL ESTATE WORLD │ 113
Q3 2011 | the knowledge
research & forecast report
pHILIppINE pROpERTY MARKET
Executive Summary ecoNoMY The philippine economy grew by 3.4% this quarter. A major contributor to the growth was consumer spending which increased by 9.9%, although capital formation through construction dropped by 4.9%. Despite the global economic uncertainties, the philippine economy is still expected to be resilient. Drivers to growth are continually drawn in the OFW remittances which grew by 6.3% in July to US$1.75 billion; and the BpO sector which is expected to gain US$11 billion in revenues by year-end.
offIce
Market INDIcators
Rental rates across all office classifications in the Makati CBD remain on an upward trend. Grade B rental rates rose the highest by almost 1% to an average of p470 per sq m monthly while Premium rental rates slightly rose to P840 per sq m a 0.7% gain. Grade A rental rates moved the least at 0.4% and remain stable in the p680 per sq m range. Followed by the strong demand for BPO office space, Grades A and B rental rates are still expected to pitch at a higher rate of 11% to p760 and p520 per sq m respectively by the third quarter of 2012.
offIce resIDeNtIaL retaIL
resIDeNtIaL Across the major CBDs in Metro Manila, there are about 4,136 units delivered to date. Some 4,800 units are still expected by the end of the year of which 20% are in the Makati CBD. In the third quarter, luxury 3-bedroom rental rates in the Makati CBD have already reached the P600 per sq m level, much earlier than the previous forecast. As occupancy rates continue to improve, the significant increase in rents by over 8% QoQ indicates that landowners are confident of a positive turnout in the luxury residential market over the long term.
retaIL The trend in the retail sector remains the same with the expansion plans of developers across the geographical level. projects by major mall developers such as Ayala Malls, SM prime and Robinsons continue to emerge in major cities and provinces namely General Santos, Davao, Cebu, Bacolod, Palawan, Cavite and Pampanga. Apart from the upcoming large-scale mall developments, district to neighbourhood retail centres are also expected to increase in the long term in line with robust growth in the business processing sector and the residential market.
114â&#x201D;&#x201A;REAL ESTATE WORLD
www.colliers.com
PhIlIPPIneS | 3Q 2011 | THE KNOWLEDGE ECONOMIC INDICATORS 2007
2008
2009
1Q 2010
2Q 2010
3Q 2010
4Q 2010
1Q2011
2Q 2011
7.8%
6.2%
3.0%
9.50%
7.90%
7.50%
6.70%
3.60%
1.90%
Gross Domestic Product
7.3%
3.8%
0.9%
7.30%
7.90%
6.50%
7.10%
4.90%
3.40%
Personal Consumption Expenditure
6.0%
4.7%
3.8%
5.90%
4.90%
4.20%
7.60%
4.90%
9.90%
Government Expenditure
10.0%
3.2%
8.5%
18.50%
5.60%
-6.10%
-7.60%
-17.20%
9.20%
Investments
9.3%
1.7%
-9.9%
24.30%
11.00%
15.60%
22.80%
37.60%
12.80%
Exports
3.1%
-1.9%
-14.2%
17.90%
27.40%
28.00%
21.10%
3.30%
-0.60%
Imports
-5.4%
2.4%
-5.8%
20.30%
23.90%
16.00%
21.80%
8.80%
8.00%
Gross National Product
Agriculture
5.1%
3.2%
0.1%
-2.50%
-3.00%
-2.50%
4.10%
4.20%
7.10%
Industry
6.6%
5.0%
-2.0%
15.70%
15.80%
9.20%
6.50%
7.20%
-0.60%
Services
8.7%
3.3%
3.2%
6.10%
6.40%
7.70%
6.40%
3.70%
9.40%
Inflation (full-year)
2.8%
9.3%
3.2%
4.40%
3.90%
3.80%
2.90%
4.30%
4.30%
Budget Deficit (Billion Pesos)
p12.4
p68.1
p270
p132
p62
p63
p10
p26
p8.9
P: US$ (Average)
p46.1
p44.7
p47.6
p45.2
p45.3
p45.9
p43.7
p43.5
p42.57
Average 91-Day T-Bill Rates
3.4%
5.2%
4.0%
4.30%
3.90%
4.00%
2.60%
1.16%
1.45%
Source: National Statistical Coordination Board
ecoNoMY The Philippine economy grew by 3.4% in the second quarter but consequently dropped from the 4.9% recorded in the first quarter of this year. Consumer spending, which grew by 9.9%, remained as the major contributor. However, fixed capital formation, particularly construction, dropped by 10.7% due to low public spending on infrastructure, despite a 19% increase in private investments. Due to a weaker economic outlook, sluggish exports and low government spending, projections for the Philippine GDP by most multilateral institutions were cut from over 5.0% to 4.0 - 4.7% this year. Despite this, the country is still expected to be resilient as regards the probable adverse effects of global financial uncertainties. OFW remittances were up by 6.3% in July to US$1.75 billion and the external demand for workers remains high. The latest government data shows that the number of processed job orders increased by 19.5% in August and is expected to meet requirements mainly in Saudi Arabia, UAE, Taiwan, Qatar, Kuwait and Hong Kong. Furthermore, gains on the business process outsourcing (BPO) are projected to increase by around 20% to US$11 billion this year. Currently, BPO revenues gained more than US$657 million in the second quarter. From a fiscal standpoint, the country is in a strong financial space with about P9.20 billion in surplus while the inflation rate remained manageable at an average of 4.5% in the third quarter. Consequently, this drove long-term interest rates on loans to 5.4% on average.
1Q
2Q
3Q
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
20,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 -
2000
In Million US Dollars
OFW Remittances
4Q
Source: Bangko Sentral ng Pilipinas * As of July 2011 REAL ESTATE WORLD â&#x201D;&#x201A; 115
PhIlIPPIneS | 3Q 2011 | THE KNOWLEDGE
LaND VaLUes Implied land values in Makati CBD increased by almost 2% this quarter and are currently pegged at P274,141 per sq m. This translates to P17,134 price per developable area. Ortigas Center land values appreciated minimally at a discounted rate to Makati of almost 1% to P126,350 per sq m. Land values grew highest in Fort Bonifacio to an average of p177,500 per sq m due to the consistently high interest in the location and despite the lack of available principal lots.
Makati CBD, Ortigas & Fort Bonifacio Average Land Values
300,000 200,000
Makati CBD
Ortigas Ctr
3Q12F
3Q11
1Q12F
1Q11
3Q10
1Q10
3Q09
1Q09
3Q08
1Q08
3Q07
1Q07
3Q06
1Q06
3Q05
1Q05
3Q04
1Q04
-
3Q03
100,000
1Q03
pesos per square meter
400,000
BGC
Source: Colliers International Philippines Research
COMPARATIVE LAND VALUES 3Q11
2Q11
% chaNGe (QoQ)
3Q12f
% chaNGe (YoY)
MAKATI CBD
262,551 - 285,731
257,125 - 280,731
1.90%
274,162 - 298,207
4.40%
ORTIGAS CENTER
94,574 - 158,126
93,747 - 156,590
0.90%
99,399 - 166,032
5.00%
FORT BONIFACIO
145,000 - 210,000
135 540 - 186,450
10.3%
149,350 - 232,391
12.00%
PESOS / SQ M
Source: Colliers International Philippines Research
LIceNses to seLL As of August of this year, HLURB data shows that total residential Licenses-to-Sell (LTS) contracted to 110,056 units or a drop of 12% from the same period a year ago. To date, the average number of residential LTS issued grew by 13,750 units MoM. The figures are expected to build as the number of new launches grew by over 90 residential buildings as of the third quarter of this year. The number of licenses continues to drop across all segments except the high-rise residential which grew by 24% to a total of 37,384 units. Recent issuances include the Venice Luxury Residences (1,172 units) by Megaworld, Grand Riviera Suites (1,014 units) by Moldex, and the projects of SMDC namely Blue Residences (1,591 units), Mezza 2 Residences (1,344 units) and MPlace @ Ortigas (1,172 units). As of August, the average YoY growth of approved licenses stood at 44% in the same segment. Consistently on a downward trend are the licenses issued across the socialized and economic segments, which both fell by an average of 30% in August as compared to the same period last year. In the mid-income segment, YoY growth posted a 14% decrease but grew significantly by 50% on a monthly basis reaching 21,954 units.
116â&#x201D;&#x201A;REAL ESTATE WORLD
PhIlIPPIneS | 3Q 2011 | THE KNOWLEDGE HLURB LICENSE TO SELL UNITS
Jan-Aug 2011
Jan-Aug 2010
% CHANGE YOY
Socialised Housing
22,103
32,841
-32.7%
Low-Cost Housing
28,615
40,413
-29.2%
Mid-Income Housing
21,954
25,742
-14.7%
High-Rise Residential
37,384
25,946
44.1%
Commercial Condominium
605
1,912
-68.4%
Farm Lot
225
283
-20.5%
Memorial Park
60
172
-65.1%
Industrial Subdivision
30
-
-
Commercial Subdivision
473
175
170.3%
111,449
127,484
-12.6%
Total (Philippines)
Source: Housing and Land Use Regulatory Board
HLURB Licenses 160,000
140,000
140,000
120,000 100,000
100,000
80,000
80,000 60,000
60,000
40,000
40,000
20,000
Quarterly Approvals
1Q11
2Q10
3Q09
4Q08
1Q08
2Q07
3Q06
4Q05
1Q05
2Q04
3Q03
4Q02
1Q02
2Q01
3Q00
4Q99
1Q99
20,000 -
units
units
120,000
-
Moving 12-Month Average (RHS)
Source: Housing and Land Use Regulatory Board
offIce sector Supply The commercial industry continues to project a positive outlook in the Philippines with the O&O sector driving robust growth of office space across the major cities. According to the Business process Association of the philippines Road Map 2011 - 2016 the BpO sector has the potential to post about US$20 billion in revenues which represents around a million employees in the next five years. This translates to roughly four to five million square metres of potential new office space. Currently, developers remain optimistic about the turnout of the property market which has heightened the number of office projects in the pipeline. From this year to the end of 2013, about a million square metres of new office space is intended to be completed in Metro Manila alone, while across the country, office-campus type of developments are seen to increase. A total of about 175,000 sq m of net usable area were delivered to date with almost 50% more expected towards year-end. Some of the recently completed buildings include Kingston Tower (5,100 sq m) and Vector 2 (13,800 sq m) in Alabang, and iSquare (12,400 sq m) in Ortigas. In the Makati CBD, the Zuellig Tower, which is mainly intended for MNCs and CHQs, nears its completion with some 57,000 sq m of additional space in the first quarter of 2012. However, supply will remain constricted throughout next year as office development will remain muted until the completion of Alphaland Makati Tower (38,000 square meters) in 2013. REAL ESTATE WORLD â&#x201D;&#x201A; 117
PhIlIPPIneS | 3Q 2011 | OFFICE
Makati CBD vs. Metro Manila Office Stock
7,000,000
600,000
6,000,000
500,000 400,000
4,000,000
in sq.m.
in sq.m.
5,000,000
300,000
3,000,000
200,000
2,000,000
100,000
1,000,000
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011F 2012F 2013F
-
Metro Manila Stock
Makati CBD
0
YoY Change (RHS)
Source: Colliers International Philippines Research
offIce sector Demand The Makati CBD continues to show high demand despite the narrowed options of available office space. Overall vacancy returned to the 3% level after it rose to more than 4% during the previous quarter. Vacancy rates continue to improve in both the Premium and Grade A buildings with 1.90% and 4.66% respectively. This was mainly driven by high take-up rates manifested in Petron Megaplaza (3,800 sq m), Equitable Tower (2,000 sq m), Pacific Star (1,900 sq m) and Enterprise Center (1,500 sq m). On the other hand, vacancy rates across Grade B buildings remain stable at the 3% level. Take-up rate is expected to reach to about 50,000 sq m in Makati this year since both traditional and BPO offices remain consistently the most preferred in this business location. Thus, the outlook on vacancy rates is expected to be stable at 2% - 3% even after the next twelve months.
Makati CBD Office Supply and Demand 270,000
20%
220,000
15%
in sq.m.
170,000 10%
120,000 70,000
5%
20,000 0%
New Supply During Year
Take-Up During Year
2012F
2010
2011F
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994
1993
1992
1991
1990
(80,000)
1989
(30,000)
-5%
Vacancy at Year End (RHS)
Source: Colliers International Philippines Research
118â&#x201D;&#x201A;REAL ESTATE WORLD
PhIlIPPIneS | 3Q 2011 | OFFICE
MAKATI CBD COMPARATIVE OFFICE VACANCY RATES 3Q11
2Q11
pREMIUM
1.90%
3.17%
GRADE A
4.66%
6.17%
GRADE B & BELOW
3.93%
3.69%
ALL GRADES
3.84%
4.15%
3Q12F
3.34%
Source: Colliers International Philippines Research
FORECAST OFFICE NEW SUPPLY LOCATION
End-2010
MAKATI CBD
2,699,696
ORTIGAS
1,126,018
FORT BONIFACIO
2012
2013
90,000
115,082
19,332
40,416
5,720
485,693
146,289
190,138
302,305
EASTWOOD
252,979
75,605
-
-
ALABANG
234,305
32,824
OTHER LOCATIONS*
685,362
81,007
64,600
23,000
5,484,053
355,057
385,154
479,667
TOTAL
2011
33,560
Source: Colliers International Philippines Research *Manila, Pasay, Mandaluyong, and Quezon City
Rents Rental rates across all office classifications in the Makati CBD remain on an upward trend although with a minimal rate of increase compared to the previous quarter. Grade B rental rates rose the highest by almost 1% to an average of P470 per sq m monthly while Premium rental rates slightly pitched to P840 per sq m, at 0.7% - half the increase it reached during the last quarter. Grade A rental rates moved the least at 0.4% and remained generally stable at the p680 per sq m range over the last three quarters. The outlook is that Premium rental rates will increase at 3.6% to P920 per sq m over the next twelve months and are projected to breach the 2008 level of more than P1,000 per sq m in the course of two to three years. Followed by the strong demand for BPO office space, Grade A and B rental rates are still expected to peak at a higher rate of 11% to P760 and P520 per sq m respectively by the third quarter of 2012.
COMPARATIVE OFFICE RENTAL RATES MAKATI CBD (BASED ON NET USEABLE AREA) PESOS / SQ M / MONTH
3Q11
2Q11
% CHANGE (QOQ)
3Q12F
% CHANGE (YOY)
pREMIUM
776 - 905
770 - 900
0.7%
812 - 928
3.6%
GRADE A
488 - 881
475 - 889
0.4%
528 - 976
11.3%
GRADE B
438 - 500
435 - 495
0.9%
503 - 541
11.4%
Source: Colliers International Philippines Research REAL ESTATE WORLD â&#x201D;&#x201A; 119
PhIlIPPIneS |
3Q 2011 | OFFICE
NOTABLE LEASING DEALS Building MDC 100
Area
Size (sq m)
Eastwood
17,215.95
Makati
7,545.00
Fort Bonifacio
3,343.00
Petron Megaplaza Sun Life Center
Source: Colliers International Philippines Research
Makati CBD Office Capital Values Capital Values
130,000 120,000 110,000 in peso per sq.m.
100,000 90,000 80,000 70,000 60,000 50,000 40,000
Premium
Grade A
1Q12F
2Q11F
3Q10
4Q09
1Q09
2Q08
3Q07
4Q06
1Q06
2Q05
3Q04
4Q03
1Q03
2Q02
3Q01
4Q00
30,000 1Q00
In the third quarter of this year, average capital values for premium buildings slightly increased at 0.5% to 105,100 per sq m while Grade B buildings escalated to P54,500 per sq m. Over the last two quarters, Grade A capital values have been stable in the p80,000 per sq m range. By the third quarter of next year, capital values are projected to appreciate by 9.9% for premium buildings, 8.3% for Grade A and 2.7% for Grade B.
Grade B/B-
Source: Colliers International Philippines Research
COMPARATIVE OFFICE CAPITAL VALUES MAKATI CBD (BASED ON NET USEABLE AREA) PESOS / SQ M
3Q11
2Q11
% CHANGE (QOQ)
3Q12F
% CHANGE (YOY)
pREMIUM
96,734 - 113,557
96,657 - 112,655
0.5%
107,297 - 123,755
9.9%
GRADE A
68,696 - 91,942
68,151 - 91,869
0.4%
73,775 - 100,248
8.3%
GRADE B
46,500 - 62,500
46,000 - 62,100
0.8%
47,768 - 64,182
2.7%
Source: Colliers International Philippines Research
120â&#x201D;&#x201A;REAL ESTATE WORLD
PhIlIPPIneS | 3Q 2011 | RESIDENTIAL RESIDENTIAL SECTOR Supply The Philippine housing backlog stood at 3.7 million last year with the shortage coming mainly from the socialised or affordable housing segments. Initiatives have been made by the major players such as Ayala Land and Filinvest Land, together with the public sector, to answer the housing needs. However, the majority of developers are still geared towards the mid- to high-cost residential segments. Across the country, the total number of issued licenses by HLURB for the high-rise segment increased by 44% in the first eight months of this year to 37,384 units. In Metro Manila, the number of project launches continues to surge with over 90 residential buildings, translating to more than 25,000 units as of this quarter. From the major CBDs there were about 4,136 units delivered to date. Some of these are the recently completed buildings such as The Columns at Legaspi Tower 2 (443 units) in Makati, and F1 Global City Center (234 units) in Fort Bonifacio. Next quarter, more than 4,800 units are still targeted for completion. Twenty percent of these are in the Makati CBD with four more projects underway, one of which is the upcoming premium residential condominium, Raffles Residences.
Makati CBD Residential Stock 18,000
25%
16,000
20%
14,000
in units
12,000
15%
10,000
10%
8,000 6,000
5%
4,000
0%
Residential Stock
3Q12F
4Q11F
1Q11
2Q10
3Q09
4Q08
1Q08
2Q07
3Q06
4Q05
1Q05
2Q04
3Q03
4Q02
1Q02
2Q01
3Q00
4Q99
-
1Q99
2,000
-5%
YoY Change (RHS)
Source: Colliers International Philippines Research
FORECAST RESIDENTIAL NEW SUppLY LOCATION
(cumulative) 2010
2011
2012
2013
TOTAL
MAKATI CBD
13,076
2,181
1,961
2,105
19,323
ROCKWELL
2,382
1,336
-
-
3,718
FORT BONIFACIO
10,709
3,052
2,417
2,621
18,799
7,481
2,389
934
2,092
12,896
ORTIGAS EASTWOOD
5,735
-
558
977
7,270
TOTAL
39,383
8,958
5,870
7,795
62,006
Source: Colliers International Philippines Research Demand Vacancy rates in the Makati CBD increased minimally to 10.4% this quarter driven by the rise in vacancies across Grade A and B residential buildings from 9.9% to 11.0%. On the other hand, vacancies across luxury residential units marginally decreased by 0.5% but retained on the 6% level. Vacancies in Makati are expected to continually increase to as high as 12% mainly due to the significant amount of upcoming supply over the next twelve months.
REAL ESTATE WORLD â&#x201D;&#x201A; 121
PhIlIPPIneS | 3Q 2011 | RESIDENTIAL Makati CBD Residential Vacancy 18% 16% 14% 12% 10% 8% 6%
2Q12F
3Q11
4Q10
1Q10
2Q09
3Q08
4Q07
1Q07
2Q06
3Q05
4Q04
1Q04
2Q03
3Q02
4Q01
1Q01
2Q00
3Q99
4Q98
2%
1Q98
4%
Source: Colliers International Philippines Research
MAKATI CBD COMPARATIVE RESIDENTIAL VACANCY RATES 3Q11
2Q11
LUXURY
6.2%
6.7%
OTHERS
11.0%
9.9%
ALL GRADES
10.4%
9.5%
3Q12F
12.4%
Source: Colliers International Philippines Research Rents In the third quarter, luxury 3-bedroom rental rates in the Makati CBD have already reached the P600 per sq m level, much earlier than previously forecast. As occupancy rates continue to improve, the significant increase in rents by over 8% QoQ indicates that landowners are confident of a positive turnout in the luxury residential market over the long term. Currently, the average rental rate for a 290-sq m unit is P178,000 per month.
Makati CBD, Rockwell, Bonifacio Global City prime 3BR Units Residential Rents 900
700 600 500 400 300 200
Makati CBD
Rockwell
3Q12F
1Q12F
3Q11
1Q11
3Q10
1Q10
3Q09
1Q09
3Q08
1Q08
3Q07
1Q07
3Q06
1Q06
3Q05
1Q05
3Q04
1Q04
3Q03
1Q03
3Q02
1Q02
-
3Q01
100 1Q01
in peso per sq.m. per month
800
Bonifacio Global City
Source: Colliers International Philippines Research 122â&#x201D;&#x201A;REAL ESTATE WORLD
PhIlIPPIneS | 3Q 2011 | RESIDENTIAL
METRO MANILA RESIDENTIAL CONDOMINIUM COMPARATIVE LUXURY 3BR RENTAL RATES PESOS / SQ M / MONTH
3Q11
2Q11
% CHANGE (QOQ)
3Q12F
% CHANGE (YOY)
MAKATI CBD
397 - 835
369 - 768
8.3%
443 - 846
2.2%
ROCKWELL
650 - 853
645 - 840
1.2%
682 - 894
4.9%
BONIFACIO GLOBAL CITTY
537 - 755
540 - 765
0.2%
562 - 804
5.8%
Source: Colliers International Philippines Research
In Rockwell Center, luxury 3-bedroom rental rates rose by over 1% to an average of P750 per sq m per month. Despite vacancy rates increasing over 3% this quarter, rents may still pitch by 5% over the next twelve months as the take-up rate remains consistently the highest in Rockwell among the CBDs. On the other hand, Fort Bonifacio rental rates remain steady at an average of P650 per sq m per month and are expected to increase by over 5.8% towards the third quarter of next year.
COMPARATIVE RESIDENTIAL LEASE RATES THREE-BEDROOM pREMIUM, SEMI-FURNISHED MINIMUM
AVERAGE
MAXIMUM
Apartment Ridge / Roxas Triangle Rental Range
70,000
170,500
250,000
Average Size
230
270
350
Rental Range
55,000
75,000
135,000
Average Size
170
190
320
Rental Range
55,000
150,000
200,000
Average Size
170
120
230
Rental Range
120,000
154,000
230,000
Average Size
180
250
330
Rental Range
90,000
185,000
215,000
Average Size
130
250
300
Salcedo Village
Legaspi Village
Rockwell
Fort Bonifacio
Source: Colliers International Philippines Research
Capital Values Average capital values in both the Makati CBD and Fort Bonifaco are virtually the same at P107,100 per sq m. However, expectations on the secondary market prices in the Makati CBD may exceed Fort Bonifacio while the former increases by about 5% to P112,700 sq m in the next twelve months. In Rockwell Center, average capital values rose by 2.6% to almost P112,000 per sq m driven by the recently completed One Rockwell West. A 3% increase is further expected towards the end of the year following the turnover of One Rockwell East.
REAL ESTATE WORLD â&#x201D;&#x201A; 123
PhIlIPPIneS | 3Q 2011 | RESIDENTIAL
Makati CBD Residential Capital Values 120,000
in peso per sq.m.
110,000 100,000 90,000 80,000
Makati CBD
Rockwell
1Q12F
1Q11
3Q11F
3Q10
1Q10
3Q09
1Q09
3Q08
1Q08
3Q07
1Q07
3Q06
1Q06
3Q05
1Q05
3Q04
1Q04
3Q03
1Q03
3Q02
1Q02
3Q01
60,000
1Q01
70,000
Bonifacio Global City
Source: Colliers International Philippines Research
METRO MANILA RESIDENTIAL CONDOMINIUM COMPARATIVE LUXURY 3BR CAPITAL VALUES 3Q11
2Q11
% CHANGE (QOQ)
3Q12F
% CHANGE (YOY)
MAKATI CBD
PESOS / SQ M
73,638 - 140,699
71,621 - 140,512
1.0%
76,626 - 148,877
5.2%
ROCKWELL
98,440 - 131,074
92,956 - 125,337
5.1%
95,586 - 137,343
1.5%
BONIFACIO GLOBAL CITY
55,154 - 125,724
87,889 - 123,866
1.2%
90,296 - 131,473
3.5%
Source: Colliers International Philippines Research
RETAIL Supply Metro Manila retail stock is unchanged at over 5 million sq m in the past three quarters. However, an additional supply of more than 170,000 sq m (GLA) is expected in the next six months following the completion of Lucky China Town Mall in Manila, BHS East Block in Fort Bonifacio and Two Shopping Center in Pasay. Trends in the retail sector remain the same with the expansion plans of developers across the geographical level. projects by major mall developers such as Ayala Malls, SM Prime and Robinsons continue to emerge in major cities and provinces namely General Santos, Davao, Cebu, Bacolod, Palawan, Cavite and Pampanga, while in China, a fourth SM mall, SM City Suzhou, is slated for completion by year-end In Metro Manila, SM continues to scale up its retail foothold with new, upcoming malls in Sucat and Novaliches and the expansion of SM Megamall in Ortigas. Ayala has recently broken ground for its latest commercial development, Fairview Terraces, in Quezon City while projects of Megaworld such as The Venice Phase 2 and the Uptown Mall are expected to build more retail space in Fort Bonfacio. Apart from the upcoming large-scale mall developments, district to neighbourhood retail centres are also expected to increase in the long term. partnerships between property and retail investors are expected to strengthen in the next few years as the demand for small- to medium-scale retail spaces makes a key component across the growing business process sector and residential market. Demand Vacancy rates, in both super-regional and regional malls across Metro Manila, decreased by 0.25% this quarter with occupancy level remaining high at 99%. Vacancy rates in super-regional malls increased by .41% with an average vacant space of around 1,500 sq m. Regional malls on the other hand were generally stable decreasing by just .05% from the former 1.35%. This renders an average vacant space of 900 sq m. Consumer spending, which improved by 9.9% during the first half of this year, may continually drive mall occupancies to a long-term high.
124â&#x201D;&#x201A;REAL ESTATE WORLD
PhIlIPPIneS | 3Q 2011 | RETAIL
METRO MANILA RETAIL VACANCY 3Q11
2Q11
SUPER-REGIONAL
1.05%
0.64%
REGIONAL
1.30%
1.35%
Source: Colliers International Philippines Research
RETAIL STOCK METRO MANILA SQ M
3Q11
2Q11
% CHANGE (QOQ)
3Q12F
% CHANGE (YOY)
SUPER-REGIONAL
2,943,353
2,943,353
0.00%
3,051,353
3.67%
REGIONAL
1,115,378
1,065,378
4.69%
1,115,378
0.00%
DISTRICT / NEIGHBOURHOOD
1,045,540
1,045,540
0.00%
1,055,734
0.97%
ALL LEVELS
5,104,271
5,054,271
0.99%
5,222,465
2.32%
Source: Colliers International Philippines Research
Rents Ayala Center rental rates increased by 2.6% this quarter with an average of P1,218 per sq m. In Ortigas, rents improved marginally to P1,069 per sq m. With the improvements in consumer confidence from -24.2% in the previous quarter to the current -18.7%, buying intentions are expected to build up primarily in food & beverage and durable goods. This may cause rental rates to jump by 2% - 3% in the next twelve months.
PESOS / SQ M / MONTH
COMPARATIVE EFFECTIVE RETAIL RENTS 3Q11 2Q11 % chaNGe (QoQ)
3Q12f
% chaNGe (YoY)
AYALA CENTER
1,220
1,218
0.2%
1,240
1.6%
ORTIGAS
1,070
1,069
0.1%
1,090
1.9%
Source: Colliers International Philippines Research
REAL ESTATE WORLD â&#x201D;&#x201A; 125
PhIlIPPIneS | 3Q 2011 | RETAIL
2%
650
1%
550
0%
(Makati) Monthly Rent
3Q12F
750
2Q12F
3%
1Q12F
4%
850
4Q11F
950
3Q11
5%
2Q11
6%
1,050
1Q11
1,150
4Q10
7%
3Q10
8%
1,250
2Q10
1,350
1Q10
in peso per sq.m. per month
Makati CBD Retail Rent
(Makati) YoY Increase (RHS)
Source: Colliers International Philippines Research
1,150
4% 4%
1,050
3%
950
3%
850
2% 2%
750
1%
650
(Ortigas) Monthly Rent
3Q12F
2Q12F
1Q12F
4Q11F
3Q11
2Q11
1Q11
4Q10
3Q10
1%
2Q10
550
1Q10
in peso per sq.m. per month
Ortigas Center Retail Rent
0%
(Ortigas) YoY Increase (RHS)
Source: Colliers International Philippines Research
126â&#x201D;&#x201A;REAL ESTATE WORLD
PhIlIPPIneS | 3Q 2011 | AUTOMOTIVE
Spending Indicators The latest data from the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) shows that the total vehicles sold as of August this year reached at 93,108 units which is 4.1% lower than the sales reported from a year ago. However, on a monthly basis it grew by 0.1% from July’s 11,550 units. Total passenger cars sold was at 4,026 units which grew by 6% MoM, however, the number of commercial vehicles sold continued to contract by 3% to 7,532 units. In spite of that, supply may have improved in the recent months. The disruption caused by the disaster in Japan continues to weaken the distribution of some models resulting in the marginal drop in the sales take-up.
512 offices in 61 countries on 6 continents United States: Canada: Latin America: Asia Pacific: EMEA:
125 38 18 214 117
• $1.5 billion in annual revenue in 2010 • 979 million square feet under management • Over 12,500 professionals
Quarterly Vehicle Sales 50,000
40%
45,000
30%
40,000 35,000
20%
30,000 25,000
10%
20,000
0%
15,000 10,000
-10%
5,000
1Q11
3Q10
1Q10
3Q09
1Q09
3Q08
1Q08
Car Sales
3Q07
1Q07
3Q06
1Q06
3Q05
1Q05
3Q04
1Q04
-
-20%
YoY Change (RHS)
Source: Chamber of Automotive Manufacturers of the Philippines
Leadership in Philippines
coLLIers INterNatIoNaL phILIppINes
10F Tower 2 RCBC Plaza Ayala Avenue, Makati City philippines TEL +632 888 9988 FAX +632 845 2312 www.colliers.com
karlo pobre
Research Analyst Consultancy and Valuation Services Main +632 888 9988 ext.4030 Fax +632 845 2612 Email Karlo.Pobre@colliers.com
paul Vincent chua
Associate Director Consultancy and Valuation Services Main +632 888 9988 ext.4024 Fax +632 845 2612 Email paul.chua@colliers.com
David a. Young
David Young
Ieyo De Guzman
Christian Espinar Director Real Estate Management Services
Associate Director Advisory and Research Services
Marissa Benitez
Director Valuation Services
Jie Espinosa
Associate Director Office Services / Landlord Representation
www.colliers.com
Paul Chua
Executive Director Investment Services
Managing Director
Barbs Dela Pena Associate Director Office Services / Tenant Representation
Managing Director, philippines Main +632 888 9988 FAX +632 845 2312 Email David.a.Young@colliers.com Copyright © 2011 Colliers International. The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report.
Gigi Limguangco Associate Director Residential Services
REAL ESTATE WORLD │ 127
Paradise of Paradise PHILIPPINES Tourist of today Investors of Tomorrow
T
“Paradise” is one of the most used keyword in tourism worldwide.
ourism positioning in today’s world, I reckon, is being on top of the word out there in blogs, official sites, network of sites, Flickr, Youtube and as a result get online streams of reservations right there! In the instance of Thailand, the official tourism tag is “Amazing Thailand” which pulls up more than 360,000 entries while “Paradise Thailand” pops out over 36 million results. For both jetsetters and neophytes making vacation plans, Thailand would yield high traffic of unbelievable hits. One big advantage of Thailand’s official website is its being an interactive site as well as integrated in all facets of travel from country of origin with smooth access and logic, and links making it being an immensely functional travel guide, planner and concierge. Stashed with necessary info, photos and interactive maps, a travel planner comes handy for all kinds of travellers—both splurgers and backpackers—to tinker. Varied accommodation options from world-class hotels and resorts to cultural exposures in rafts and homestays, chart your air/sea/land transport and more with great deals get done right in the same website. Whoa! One more biggie, Thailand’s official website offers two intensive language versions (Thai and English) and 28 international sites attracting and generating more from Western Europe and Russia,
128│REAL ESTATE WORLD
United Arab Emirates all the way to East Asia such as South Korea and China. Thus making Thailand a popular and choice destination. Thailand’s tourism is resilient, transcending coup d’etats, SARS, tsunami, the recession and even the recent flood. With Thailand’s vibrant tourism policy, integration, and management reinforced with local and international tourism businesses offering spectacular worldclass resorts and islands, conventions and halls, exotic foods, flora and fauna, water and mountain pleasures, health and spa, dining & wining, partying and froth, and shopping. The green and red lights are on in Thailand! Upclose: Philippines’ Best As real estate practitioner, my appreciation of tourism is expanded in tandem with multi-faceted real estate, as aptly capped in the last CREBA convention theme that goes: Tourists today, Investors Tomorrow . One facet I undertake to help foreign tourists and investors are in finding hotels or condotels for short-stay tourists, houses and condos for long-stay tourists and retirees, and even huge dwellings and offices for foreigners who after several visits would engage in business. I gather that among the countless factors why FOREIGN TOURISTS would flock to the Philippines are to delight in the following: (1) sightseeing and beach adventures, (2)business functions, (3) seminars and conventions, (4) language learning (English), (5) study and cultural exchange, (6) sports (golf, surfing), (7) cosmetic & medical concerns, (8) health & spa , (9) wine and dine, (10) investment, and (11) shopping (which comes as incidental not as a primary driver) all served in the distinct Filipino nurturing and pampering way called Filipino hospitality.
Filipinos are the Philippines’ best, no brain drain at all-from street vendors to sales ladies, boatmen, entertainment assistants, farmers, our ethnic peoples, professionals, technocrats and businessmen. Practically as a people we are ready with our smiles, our hands, our talents, our brilliance, and our hearts as we serve, as we relate, as we do business. As one Canadian client of mine who purchased in 2007 a most posh condo in Makati, recently said “your best attraction in the Philippines is your people, the Filipinos”. His global business headquarters is in Vancouver, expanded to London and all over Europe, and in just three years in Manila, he has grown and diversified his Philippine ventures to now more than 600 employees. He is set to launch his global brand namesake not anywhere else but MANILA. OUR DEAR BALIKBAYANS and OFWs out there—over 10 million-strong—are surely our country’s contribution to the world: talented, nurturing, resilient, lovely Filipinos. Aren’t we one of the best nurses, selfless inventors, daring engineers in high risk countries, great nannies, with a chef in the White House, thinkers in NASA, teachers in the world’s universities, doctors detailed in state-of-theart hospitals to oil-platforms, the largest number of seafarers? The stories are endless. Balikbayans come home for all sorts of school and family reunions, medical missions, weddings, deaths of loved ones, island touring, buying properties and shopping. According
to NCSB, there is one balikbayan for every tourist. The balikbayans have sustained real estate in the Philippines recording estimated 70% of buyers of the middle market. OFWs come back as their job contracts end and would either renew or find “greener” placements, some unfortunately come home because of war and calamity breakouts. Needless to say, despite recessions over US$ 20.1B remittances of the global Filipinos are estimated for the whole 2011, moving our economy in consumption, investment and contribution to tourism. Sure thing, the Filipino people is the Philippines’ best attraction. Coupled with the diverse richness and beauty of its 7,107 paradises, this makes for twin pillars in our tourism agenda. Whether in the urban oases or in the islands, the Philippines is a sure delight frothed with caring, beautiful people. Sidebar and Insights As a traveller which mostly I do to promote and sell properties in the Philippines to global Filipinos and networks, that means going to big cities – NY, NJ, LA, San Fo, Vegas, Dallas, Vienna, Stockholm, Copenhagen, Munchen, Dubai, London, Hong Kong, Singapore, Kunming and Seoul. Though as a tourist for pleasure, I prefer to
sojourn in sparkling beach resorts. My fave destinations in my beloved motherland, is the enchanting El Nido islands in Palawan, Boracay, and Pico de Loro in Nasugbu, Batangas. In other countries I like short cruises to Cozumel, Key West, Miami, Santa Catalina, Waikiki , or a stroll and notebook in Santa Monica, Laguna Beach The real value and beauty of travel is in admiring people and places. I love all kinds of ethne, Greek word pertaining to people groups of same language and culture. The only bump-off is in understanding and getting things done due to language barrier. I go to some of the world’s cities and exotic places (save for USA, UK and other English congloms) and end up pointing to pictures in the menu to order, getting lost in asking directions, eking out soft smiles and caring assistance, outsmarting taxicab drivers with lustful desires, and sure I need translator for business meetings and contracts. Sheesh! I believe with vibrant and appropriate policy and program we can bolster tourism with vigorous public and private promotion utilizing smart e-tourism with functional and optimal results and mobilizing all tourism and allied business to blog and promote. Global Filipinos ought to be given tourism incentives. Filipinos here and yonder, let us be proud of our country, as the new Tourism Secretary Ramon Jimenez encourages everyone to be part of tourism promotion. Altogether the tourism in the Philippines can be summed-up into a two-fold main bounty: AWESOME PEOPLE & PLACES. Sure thing it can be declared, come to sizzle, sparkle and celeb life in the PARADISE OF PARADISE, PHILIPPINES! MS. G REW
Ms. G is a realtor that offers hotel and condotel assistance and sells beach clubs and resort condos, you may reach rosan.trophydeals.com REAL ESTATE WORLD │ 129
If you’re buying a house, make sure it’s excellent for reselling.
House Buying tips for Newly Weds
H
ow many times can you hear somebody say: “Having a house I can call my own will be my aim in life.” “Even getting a simple house, then I’ll be very contented and happy.” It’s really simple aspiration for a Filipino. For now, your success can be measured by the number of houses you own. In reality, the Filipinos, owning a real estate will be a barometer of man’s achievement. The usual mentality of Filipinos in buying house, the first purchased home is their dream house and it will be where they are going to live for the rest of their lives. When searching for that fundamental to the financially wise house and lot ownership, the golden motto will be: If you’re purchasing a house, be sure it’s excellent for reselling. It means, if you’re an excellent purchaser, you will be looking at a house and then viewing its ability for resale on gaining profits maybe within 5-8 years, you can find yourself an excellent investment. So as discussed, your first house will not be your ambition house. You’ll be able to use it as a step on success to buy yourself a “palace”? A vital factor will be to do that initial step on house ownership: purchase with an intention to sell later, then purchase again for a bigger house, until that ambition had been reached. There are certain rules for consideration in order to reach your dream Rule #1: A very vital rule when buying a house is the location. The location of your house in that community is the very important mechanism for your real estate reselling profit. 130│REAL ESTATE WORLD
Excellent schools, the proximity of shopping malls and the transportation, being accessible to area of employments will be the factors making the place resaleable. The purchased home will be the biggest investment of your family. If you decide to settle in that community the appreciation will be greater and resaleability is stronger. A life within a tranquil subdivision, even if it’s far away can offer much more space for a peaceful surrounding though it require more time for travelling. Just take your time in weighing all alternatives before making a decision.Rule #2: When you already determined the location, a vital factor in checking if you’re purchasing your home will be to check the developer or builder. Never rely on the words of other people. Always check it yourself. Ask the homeowners if they have problems. Rule #3: If you are buying a house also intended for reselling take the one with conventional type of architecture and the price range should be affordable. The high-end price range will have difficulties in re-selling the property. Rule #4: When you’re purchasing an old house, be sure that the refurbishments will not affect the price and there will be added values to go with the affordable price for re-selling. Rule #5: Stay away from those value loser. The pool inside your home can become a symbol of success but to other people who are conscious of maintenance costs it can become liability when reselling. Rule #6: Take into consideration how you will finance the house you’ll buy. If you will be paying the house in full cash then there will be no problem. Take the easy affordable financing scheme. REW
R EAL ESTATE WORLD MAGAZINE
Presents L
TIONA INVITA
ouse Buying tips for Newly Weds
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National President - Board of Director Pareb - QCRB
DR. MARY GAW SO, CPV President PRC Licensed Real Estate Broker PRC Licensed Real Estate Appraiser PRC Licensed Optometrist PRC Licensed Real Estate Consultant
Philippine Association of Real Estate Broker (PAREB) is the largest real estate broker association in the Philippines.
MARGARET DY GAW Chairman of the Board PRC Licensed Real Estate Broker Practicing Accountant Insurance Commission Agent WINSTON DY GAW Operations/Corporate Executive Officer
WEBSITE: www.myhometownrealtyanddeveloper.com E-MAIL ADD: myhometownrealtyanddeveloper@yahoo.com 132â&#x201D;&#x201A;REAL ESTATE WORLD TEL./FAX NO.: (+632) 4122624, (+632) 4162146, (+632) 7319493 OFFICE CELL NO.: Sun (+63922) 8128828 Smart (+63918) 5347979 Globe (+63927) 5002225
REAL ESTATE WORLD │ 133
THE BAYLEAF INTRAMUROS GRAND OPENING 1 2
NOVEMBER 29, 2011 AT MURALLA BALLROOM
1. RIBBON CUTTING - Gwendolyn Ruais, Mayor Alfredo, Mrs. Lorna P. Laurel, Cory Quirino, Ed Vitug 2. President of The Bayleaf Intramuros & Lyceum of the Phils. University- Atty. Robert P. Laurel, General Manager of The Bayleaf- Mr. Ed Vitug
3. Atty. Roberto P. Laurel and President Benigno S. Aquino III 4. Ms. Sallie Lopez, Atty. Roberto P. Laurel, Pres. Benigno S. Aquino III and Mrs. Lorna P. Laurel
4
3
134â&#x201D;&#x201A;REAL ESTATE WORLD
first fair fearless
REAL ESTATE WORLD │ 135
Disaster Preparedness TIPS 2012 Expecting the worse need not be a sordid affair
A
new year has come. And while most of us, we suppose, are too busy finding and founding new lives, new looks and new loves, we might as well likewise prepare for the worse things. And we mean unforeseen disasters. While we hate sounding like nihi-lists or alarmists, this friendly advice does not come without reason. Even experts believe that while we feel we’ve had enough of earthquakes, typhoons, floods, volcanic eruptions and whatnot in the year that was, 2012 threatens it will not be outdone. And when we say experts, we mean geologists, meteorologists, environmentalists and other scientists who have studied their respective fields for years looking for patterns and gathering evidence to support their claims, and not simply analyzing the numbers of the Mayan calendar. In this light, Real Estate World has come up with ten practical tips to arm our dear readers with knowledge to help us leave behind the year that was and live fully the year ahead. After all, preparing for disasters need not be as sordid as it sounds. Survival, as they say, is 90 percent psychology, so never assume disasters won’t happen. Most certainly they will, in various forms and various degrees. Be familiar with your own immediate environment: its geography, history and vulnerability. Some regions will be prone to typhoons, others to flash flooding or tsunamis, and others to earthquakes or volcanic eruptions. Depending on what natural or man-made calamity your vicinity may most probably be exposed to based on a host of relevant factors, plan your course of action accordingly to keep you and your family out of harm as much as possible. Know not only your family’s basic needs, but also their special needs. Foods rich in sugar, water, whistles to let others know of your location, flashlights and batteries, clothes and blankets, these are all that we’ve always been told to have handy in case disaster strikes. Yet this does only half the job. Special needs like daily medication for ill family members, infant formula and diapers for babies, and important family documents must likewise be secured. Camping does not only sound fun; it can and should be a rehearsal for disaster preparedness. Spend a weekend somewhere remote yet safe, armed only with the most basic of necessities, and see how you will be able to get by with what you have and what you can find along the way. Never underestimate the virtues of resourcefulness and creativity. No man, or even family, is an island. Take time out to familiarize yourself and the others with your neighborhood’s emergency plans, including evacuation sites and routes. “The more, the merrier” is nota mere adage. It is always a call for collective action. In the unfortunate event that a disaster indeed strikes, never ever panic. We know this sounds cliché, but we can never overestimate the importance of this reminder. Panicking imperils practically all of your mental and physical faculties. It drains your energy. It feeds on worse case scenarios that would otherwise not materialize if you have prepared enough and are ready to execute your plans. Keep your eye on the target, and the target is always survival.
1.
2.
3.
4. 5.
136│REAL ESTATE WORLD
6. Keep things bare and simple. The most successful emergency plans
are those that require less things to be brought as you move about. While evacuation seems a fancy thing to do on the silver screen, it helps to keep in mind that you’re not in the movies, and it is your own lives, and not those of the actors, that are at stake. Heed government warnings, may they be from the national or the local levels. To a certain degree some of the dire situations our fellow Filipinos faced last year, with the onslaught of one disaster after another, were due to failure to listen to public announcements. Better yet, do your own research if you can. You are a resident of your own area after all, and of all people you should be the one familiar with your environment’s behavior. Automated teller machines will most probably not be functioning when disaster strikes. Keep an ample supply of cash on hand, in the hopes that stores and transportation will still be in business. Prepare a customized information sheet for each of your family members, containing their first and last names, address, age, names of other family members, family doctors, lingering illnesses if any and their appropriate daily medication, blood type, special needs, and other details that you think will facilitate assistance to them by appropriate organizations or government agencies. Equally important as surviving the onslaught of the disaster is getting by in its aftermath. If you’re able to do so, the most important thing to do after any calamity is move out to a safer place, check on your own physical condition and the others’, and start looking for help.Do this with caution as the disaster may not actually be done yet. Never fail to remind each other that with everyone’s cooperation, things will turn out better. After all, survival, as we’ve set out at the very beginning, is 90 percent psychological.
7.
8.
9.
10.
REAL ESTATE MANAGEMENT ASSOCIATION OF THE PHILS.(REMAP),INC.
Unit 1503 Antel Corporate Centre ,121 Valero Street, Salcedo Village ,Makati City Tel. No +632.828.3333 ● Mobile No. +63.918.828.3333 ● Email:info@remap.com.ph ● Website :www.remap.org.ph REAL ESTATE WORLD │ 137
138│REAL ESTATE WORLD
REAL ESTATE WORLD │ 139
mission possible W
TEAM BUILDING
e are a company that runs Experiential Team Building events for corporations and other organizations. Our programs are modular and can be customized to meet the needs of our clients. “I hear and I forget. I see and I remember. I do and I understand,” Confucius. This is an old Chinese proverb that was popularized by Benjamin Franklin around 300 years ago, and which holds as true today as it did when it was written. Confucius also wrote “Every truth has four corners, we show you one, and it is up to you to learn the other three” Experiential learning is the basis of these quotes, and that is what we base our Team Building programs around. We do not teach, we create the opportunity to learn. We use a Kaizen processing model which is simple to implement but profound in its potential. Kaizen originated from on in the Japanese culture and actually represents two different ideologies; change and virtue, as shown here. Kaizen was first incorporated into business process improvements as part of W. Edwards Deming’s “14 Points” system. The fifth point in this process instructs users to
“Improve constantly and forever” which is precisely which Kaizen promotes. We design our Team Building modules to be short but repeatable. We ask these three questions at every phase:
What did you do well? What could you have done better? What will you change in the next iteration? The team then has the opportunity to work through the process and develop the changes that they believe will improve their performance, and usually succeed. This process is also something that, when learned, can be used in their work or personal life after the Team Building is completed. In his book ‘Understanding How People Learn’, author David G Reay explains that learning is in fact a natural phenomenon. It is: Continuous: consciously or unconsciously, Natural: wanting to learn is a natural state of affairs. Experiential: Learning through theory is an acquired skill, but experiential learning is a natural skill. There are several barriers to experiential learning, some of them being: Lack of motivation Unsuitable work environment Inappropriate subject matter Past experience Self image Inadequate study skills Poor memory Any combination of the above factors will hinder the experiential learning process and cause resistance to learning. One ingenious way to overcome these barriers is to introduce and encourage experiential learning through play .
Infrared Combat Experience
ICE (Infrared Combat Experience) which uses the same The term “suspension of disbelief ” can also be applied to completely safe Infrared combat training technology used by this process, as in theater and movies, to allow the participants the US Military in their training it is an excellent Team Building to learn while having fun doing it. activity to get your staff motivated and working together. ICE is also excellent for demonstrating the Kaizen Model of Mission Possible Team Building is run as a program in which continuous improvement as each team learns and adapts to individuals with multiple, different skill levels and abilitie, can new strategies and tactics for each game. bond together as a team, leverage their skills through playing games. They will: Mission Possible has a selection of over 40 Team Building Learn how teams work Modules that we use to create a customized program for clients Add value to the team based on their needs and budget. There are Soft, Active and Contribute to the team’s success Cooperative programs available depending on the participants. Experience being a leader The modules are mixed outdoor, indoor and pool based. Many Have fun doing it! of these modules can be used indoors which could be carried We view Experiential Learning and having fun as complementary, and add to the successful adoption of the lessons learned, into the real corporate world. Leadership training is also an important part of our programs and each member of the team will get the opportunity to lead in one of our modules. Our team selection process is completely random and the players are responsible for their own selection, so there are no barriers based on “why am I in this team?” One of the favorite modules unique to us is:
out at your office or any suitable indoor venue. Our programs are designed to be non-competitive as all members are usually from the same company so we focus on the cooperative, rather than competitive elements of Teamwork. We encourage clients to have a mixture of “soft,” “cooperative” and “active” modules so the team can experience all the elements of teamwork. We recommend that the program ends with all teams coming together to achieve a final objective or to share experiences and consolidate the lessons learned. This is usually created and agreed in cooperation with the client. AVJRE W
Frisbee Netball
INTERESTED PARTIES FOR TEAM BUILDING PACKAGES PLEASE CONTACT: Unit 1503 Antel Corporated Building,121 Valero Street, Salcedo Village, Makati City Telephone: (632) 828-3333 Mobile: (63) 09396290207)
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REAL ESTATE TRUSTED TRADE REFERENCE WITH A GLOBAL REACH
WORLD
REAL ESTATE IS REAL There are 10 sectors the government is pushing this year. Business is pushing 7. Not surprisingly they don’t match, only 6 are common. Fortunately, real estate can potentially benefit in some of those sectors, with tourism being the best one for the nation because this spreads the wealth, office buildings grow in cities. What then are they? Government’s list Business Process Outsourcing Tourism Development Agriculture and Fisheries Development Infrastructure Mining Logistics Semi-conductor and Electronics Housing Shipbuilding Other high potential industries
PETER WALLACE Columnist
Business’ list Business Process Outsourcing Tourism, Medical Travel and Retirement Agri-business Infrastructure Mining Manufacturing and Logistics Creative Industries
T
o this list must be added OFW’s. Not that government should be promoting the departure of Filipinos, and the splitting of families – it should be doing the reverse: Creating well-paying jobs here. That’s what the top list is all about. But OFW’s are a critical ingredient in the real estate pie. They are funding the low- and mid-level housing boom that’s been occurring. And still will. The crisis in Europe and the U.S. will slow OFW remittance growth (to about 5% this year we expect), but it won’t stop it. Filipinos are too valuable, too valued. In the 2008/2009 downturn, 1/3 of the world’s shipping was laid idle but Filipino seamen didn’t lose their jobs, other nationalities did. So the housing will be there in 2012. BPO will grow too, but here the market may be ahead of itself. There’s a lot of office space being built, if they’re not careful the demand may not be there. It’s the same with shopping malls, there’s only so many you can build. And many have been. For there to be more will depend on infrastructure and having fun. Infrastructure? South of Manila is racing ahead today – because of SLEX and the Skyway. You can get from Makati to Alabang quicker than you can get from one side of Makati to the other. People are moving out there, people need shops. It will be the same elsewhere, so look to where government will build. If it will, and that’s another story. The level of infrastructure spending is the lowest in Asia, by a factor of over 2. Other Asian countries spend on average 5% of their GDP (and a larger GDP than ours) on infra. The Philippines spends a measly 2 to 2.5%. It is estimated at 2.3% in 2011, and programmed to be at 2.4% this year, still way below the benchmark. Tourism can be one of the greatest benefits to the real estate industry. Tourists need resorts, hotels, restaurants, ports, airports, roads. They need the infrastructure to get there, and stay there. All of these activities need land. With limited land, a fast growing population and, if it works, economic sectors demanding space on which to build, land prices can only go up. The real estate industry needs to lobby in the strongest possible way to simplify the bureaucracy. This must be stopped. My solution: Computerize. Do all transactions online, you can’t give a computer a brown envelope. And do that application just once, let the computers
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PRIVATE CONSTRUCTION GROSS VALUE (Billion Pesos at constant prices) PRIVATE CONSTRUCTION GROSS VALUE (Billion Pesos at constant prices)
require 10 square meters of office space, the 4-fold increase in BPO employment in 5 years, from 160,000 in 2005 to almost 600,000 in 2010, has lifted office space projects in the period. In Metro Manila alone, office stock rose from 4 million sqm in 2005 to 5.5 million sqm in 2010. Investment in hotels and resorts stepped up starting 2006 when it became apparent foreign visitor arrivals would soon exceed 3 million. Existing hotel rooms could only accommodate 3 million tourists at that time. Tourism projects stepped up further during the past 2 years as arrivals approached 4 million (2011 est.: 3.7 million) and a target of at least 6 million was set for 2016. In 2010 alone, 80 projects were completed to handle 3.5 million plus tourists. Another 60 hotels and resorts are being developed nationwide this year and the next.
distribute to the 149 other locations, and get the 150 approvals. Do we even know who owns what land? You know we don’t, yet that’s kind of important, isn’t it? How is the real estate industry doing? Well, let’s look at it. Property development posted significant growth during the past two years. It’s in the midst of a property market boom. Real (inflationadjusted) gross value of private construction grew 7.2% in the first 3 quarters of 2011, the 2nd straight year it recorded sharp growth. Real estate, which reflects the value of the services pertaining to the sale of property, grew even faster at 15% in the same period last year. It rose 17.1% in 2010. Indeed, it was among the few activities that prevented a shutout of the economy in 2011. And the momentum is expected to be sustained for at least 2 years more. The strong performance of the property sector was nearly acrossthe-board with all major sectors of the property market – residential, office and tourism – performing well. Residential drew its vitality from high-rise projects mostly in Metro Manila with two-thirds focusing on smaller units (50 square meters or smaller) for the middle to upper middle income market. According to property analysts, planned projects total almost 100,000 units between 2011 and 2014, or in just 4 years, almost double the 55,000 built during the past 10 years, i.e., 2001-2010. Affordable home financing – staggered down payment, low mortgage rate and longer maturity period – has helped stimulate the purchase of housing units. Banks are waking up to the financial reality of families. Sustained growth in OFW remittances despite the harsh global economic conditions, the increasing interest of Filipino residents abroad to have a second home in the country (for vacation and retirement), and increased availability of relatively higher-paying jobs from the BPO industry were also the drivers of growth in the residential sector. Office space was fueled by the rise of the Philippines as one of the top BPO destinations (the country is in fact now known as No. 1 in call centers) in the world. Given that each office worker would
But the property market is cyclical. There were 2 major up-cycles prior to the present one – during 1986-89 and 1993-97 – spanning 4-5 years. Each of these was followed by 3-4 years of a distinct down-cycle. Eight years of mild upswings and downswings preceded the present property boom. So there’s the likelihood of a bust in 2014 or a few years after. Nonetheless, property development is expected to remain on an upswing till 2014, albeit at a slower pace after 2012. The residential segment, especially the small units for the middle-income market, could face saturation point this year resulting in a rising vacancy rate. But office space development will be sustained, as the BPO industry sees employment reaching 1 million by 2015 from 600,000 in 2010, which suggests additional demand of up to 4 million sqm in a span of 5 years. Also, more investments in hotels and resorts will be needed in support of a 6-million foreign visitor target by 2015 as existing facilities, despite significant construction activity since 2006, would not be able to meet the demand for hotel rooms of this nearly two-fold surge in visitor arrivals. For this year, there are problems on the horizon for the world. The major global economies, specifically the U.S. and Euro Area, are heading toward possible (dare I say, probable) crisis, with the probability of recession now rising. European growth is now predicted at 0.5%, and the U.S. a miniscule 1%. This means a significant improvement in the Philippines’ external growth factors especially exports cannot be expected. Nonetheless, the country’s immediate neighbors like China and the ASEAN members will remain dynamic and will partly offset the absence of opportunities elsewhere, provided the country shifts its focus to these areas. The economic growth will continue to come from the property market boom and stable in 2012. So expect modest growth in a generally stable environment. Miracles aren’t buoyant consumer spending. There will also be relatively better prospects for government spending, with some priority PPP and ODA (official development assistance)-funded projects finally taking off, the P72 billion stimulus package launched in 4Q11 having some impact, and the CCT increased further to P29 billion. Hence, overall, GDP is expected to grow faster at 4.5-5.5%, even as the cost environment will remain reasonably going to happen. RE W REAL ESTATE WORLD │ 145
KEVIN L. TAN’s
Megaworld Lifestyle Malls
I
t didn’t take too long await at the imposing receiving lobby of Megaworld Corporation, Eastwood City in Quezon City. We were guided to the Emperador “The BaR” to take pictures of Kevin L. Tan, First Vice President and Commercial Division Head of Megaworld Corporation. This young impeccable gentleman carries with him an implausible responsibility running the Commercial Division of Megaworld Corporation. My short questions got very comprehensive and authoritative answers. “Our company has lot of managers in different divisions because we are growing so fast. We also have quite a number of professionals as well as experts in the field of marketing, in the field of engineering, in the field of leasing, in the field of design and importantly in the field of property management”, as he started in a very pensive mood. “I like to think of myself as quite hands-on head of the commercial division because I meet with every department at least once a week. Department heads submit progress
and program reports daily without fail. Monitoring is an important key to progress especially when we are trying to expand and grow in this business. I also wanted to create discipline within us. Everyday serves like a deadline and every meeting is designed to follow through of pending matters for immediate resolutions and actions,” as he continued reflectively. Q. In your Megaworld condominium projects and formation of townships, did you set up the commercial developments aligned to provide additional amenities and facilities to your residential markets? “Absolutely yes, you’re right. The malls that we built in our township developments serve as the amenities to the captive community which is made up of our condo residents and for the employees of our locators. And I think they are our mall captive markets. Our malls also serve as the centers of communities around the developments. So we wanted to position them as the commercial centers of our developments. You’re right. They are amenities of our projects, “he answered with a feeling of great assurance.
Eastwood Mall located at Eastwood City, Quezon City was awarded 2010 Shopping Center of the Year by the Philippine Retailers Association.
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“I like to think of myself as a hand-on head of Megaworld Commercial Division because I meet with every department at least once a week. I also wanted to create discipline within us. Everyday serves like a deadline.” REAL ESTATE WORLD │ 147
Venice Piazza at McKinley Hill, Fort Bonifacio, Taguig provides mall goers an opportunity to experience Italy in Manila.
Q. So far how many malls did you developed and already operational? And how do you classify them accordingly?
of things to do at Megaworld Lifestyle Malls.” What can you say about this?
“We manage currently eight lifestyle malls or commercial developments of different sizes (Eastwood Mall, Eastwood City Walk, Eastwood Cyber & Fashion Mall, Venice Piazza at McKinley Hill, Burgos Circle at Forbestown Center and Newport Mall at Resorts World Manila, Paseo Center, and The Clubhouse at Temple Drive) We are about to open a new lifestyle mall in the heart of china town in Binondo district named Lucky Chinatown Mall. It is a full scale Lifestyle Mall. “Our malls come in different sizes and different formats and concepts. Example, if they are full-scale malls, they have cinemas, restaurants, shops, etc. Some developments are pure restaurants, and some are purely for night life activities. So, basically we have different categories and they all fall under lifestyle mall concept.
“Well it is very evident that this magazine is our marketing tool to promote our Lifestyle Malls. The magazine is distributed to all Megaworld Developments. The magazine is circulated in 100,000 homes all over Metro Manila. All the way to Alabang and some parts of Sta. Rosa, Laguna. We also deliver in Bulacan. The magazine is part of our support to our locators and renters of our commercial establishments. It is handled by our marketing group. The marketing function is mainly to drive the traffic in our various malls by way of different programs, events and activities we provide. This tool is very effective and attributed a significant traffic of visitors to our malls.”
“The Lucky Chinatown Lifestyle Mall is the new star that emerges in the heart of Binondo. It is at the corner of Reina Regente and Dela Reina streets. Q. I saw in your receiving lobby this Megaworld Lifestyle Malls magazine, featuring all your malls and very attractive advertisements of your locators and supporters, it says here, “we’re positive that you’ll never run out 148│REAL ESTATE WORLD
Kevin L. Tan in a hearty conversation with REW’s Angel G. Vivas. Jr.
Q. In the determination of the development of malls or shopping centers, what are the major aspects you incorporate in your conceptual planning to arrive at a conclusion or resolution reached after consideration? “We custom fit our developments in accordance with the statistical data relating to the population and particular groups within it. We are trying to determine our target market per development. In particular like Eastwood, it caters to a younger lifestyle demographic. We also have a lifestyle malls that cater the BPO sectors, which are extended to a larger mass market segment. Our Lucky Chinatown Mall, if you see it, will cater to a wider
customer base of different segments. It will offer a wider range of food offerings as well as the retail offerings. “Overall, in moving forward, we definitely would like to create lifestyle malls that are for all demographics or markets. However, I think it will highly depend on the location. But one thing is definite, whatever market we target we will always build it with elegance, and with touch of class. However, we feel that all customers deserve to be treated with class and should have a chance to raise its level even if the mall target is the lower segment. I also believe that the interior design must be unequalled in expression of class. We will provide total entertainment because we want our customer base to feel really satisfied. “The concept of building our residential projects is based on the price per square meter. If it is comparatively below market level we try upgrade quality to reach the pricing we want to achieve. This is the same strategy we apply to our lifestyle malls.” he explained with emphatic thoroughness. Q. What about Venice Piazza at McKinley Hill? I visited your project and you have a great potential market for a full scale Lifestyle Mall. The project is already fully developed in a great location and high end market? “Yes, that’s actually our next project. The Venice Piazza and the Venice Lifestyle Mall should be finished by next
year. The market is very much ready and we are now constructing. We are going to complete our residential units of the project and we look forward for its completion soon, his short yet précised reply. Q. What about you’re 8 Newtown Blvd. in Mactan Island? Boracay Newcoast? “We will establish a township in 8 Newtown to service a large community. It will be a huge project that blazes on another new trail. It has started to capture a chunk of the huge market for retirees. The four 15-storey buildings sport clean lines and a white façade. The four-floor podium level will host commercial spaces on the ground floor and BPO offices, while residential units will start on the fifth floor to the 15th level. Though it will take some time, we are all excited about the project. “Boracay Newcoast is the first and only master planned, tourism-oriented community spanning 14% of the island. We are now finishing the plans and we are starting to perceive with the tenancy and that would be exciting to a lot of people. We look at Boracay Newcoast as the latest favored playground in Boracay Island, offering tourists a variety of lodging choices and leisure options. My division will definitely be extremely busy,” as he finalized his answers. AVJ RE W
Lucky Chinatown Mall located in Manila emerges as the new star at the heart of Binondo.
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Pag-IBIG Fund
Facing Challenges Head on
C
onfronted with the sudden reduction in its membership base, Pag-IBIG stood unfazed and took the challenges head on. As a first step, the Fund implemented an intensified marketing campaign that focused on membership retention and generation.
groups with informal income, overseas Filipino workers, and non-earning spouses. It also launched other novel programs such as the Multi-Purpose Loan for its short-term loans program, and shelter programs that address both individual and institutional housing requirements.
Pag-IBIG introduced innovative benefit programs that heeded the calls for expansion of membership to include self-employed
Clearly, the voluntary nature of Pag-IBIG membership did not stop the Fund from growing in depth and breadth. During the period, the Pag-IBIG Fund has claimed its rightful place in the country’s economic and financial system, finally gaining the acceptance of its members, not by force, but by its continuing efforts to impress upon the members that the Fund exists solely for their benefit as well as their beneficiaries. The birth of the Home Development Mutual Fund (HDMF), more popularly known as the Pag-IBIG Fund, was an answer to the need for a national savings program and an affordable shelter financing for the Filipino worker. The Fund was established on 11 June 1978 by virtue of Presidential Decree No. 1530 primarily to address these two basic yet equally important needs. Under the said law, there were two agencies that administered the Fund. The Social Security System handled the funds of private employees, while the Government Service Insurance System handled the savings of government workers. Less than a year after on 1 March 1979, Executive Order No. 527 was signed. The order directed transferring the administration of the Fund to the National Home Mortgage Finance Corporation, which was one of the operating agencies of the then Ministry of Human Settlements. Seeing the need to further strengthen the stability and viability of the two funds, Executive Order No. 538 was issued on 4 June 1979, merging the funds for private and government personnel into what is now known as the Pag-IBIG Fund. However, It was only on 14 December 1980 when Pag-IBIG was made independent from the NHMFC with the signing of PD 1752, which amended PD 1530. With the improved law in effect, the Fund’s rule-making power was vested in its own Board of Trustees. Likewise, PD 1752
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made Pag-IBIG membership mandatory for all SSS and GSIS member-employees. After eight years as a voluntary fund, the nature of Pag-IBIG membership reverted to mandatory on 17 June 1994 when President Fidel V. Ramos signed Republic Act 7742. The new law became effective on 1 January 1995. Today, more than a decade after the universal Pag-IBIG coverage law was implemented, the Pag-IBIG Fund continues to be a strong partner in realizing Filipino workers’ dreams. Over the years, it initiated more programs and projects, particularly those that address the needs of members belonging to the bottom economic level. The Fund has established special housing partnerships with teachers and uniformed men, among others. The Rent-to-Own Program was introduced, providing members another affordable way of homeownership. The Fund’s efforts towards housing the Filipino did not go unnoticed. During the World Habitat Day celebration in October 2006, PagIBIG was given the prestigious Scroll of Honour Awards by the United Nations Human Settlements Program (UN-Habitat) for “making the dream of affordable housing a reality for hundreds of thousands of households.” Pag-IBIG is the first Philippine government agency to be awarded such recognition. The Fund likewise strengthened its partnership with accredited developers by way of its various institutional lending programs, among which is the much-sought after program for the development of medium and high-rise condominium buildings. The program provides a ready inventory of condominium units for sale at affordable prices, and allows members to experience condominium style living in areas close to their places of work. In recent years, the Fund has embarked on its successful bid in the financial market, moving a step closer to its vision of becoming a premier and globally competitive provident financial institution. In 2001, the Fund floated P2 billion-worth of Pag-IBIG Housing Bonds to generate additional funds for its shelter financing programs, which was warmly received by both institutional and individual investors. The bonds matured in late 2006. HDMF Law of 2009 President Gloria Macapagal-Arroyo signed into law Republic Act No. 9679 or the Home Development Mutual Fund Law of 2009. The law was signed on 21 July 2009. Under the new HDMF law, membership to the Pag-IBIG Fund is made mandatory for all SSS- and GSIS-covered employees; uniformed members of the AFP, BFP, BJMP and PNP; as well as Filipinos employed by foreign-based employers. Now more than ever, Filipino workers will enjoy the benefits that are available only to Pag-IBIG members. Likewise, the law grants the HDMF exemption from tax payments like other government provident institutions. With its tax-exempt status reinstated, Pag-IBIG will have more funds to finance housing and short-term loans as well as investments in government securities. Income from these endeavors is distributed exclusively to Pag-IBIG members in the form of dividends. The HDMF Law of 2009 also gives the Board of Trustees the authority to set the contribution rates, thereby paving the way for members to save more for their future. Similarly, this will bolster the Fund’s resources for home financing.AVJ-REW
Atty. Darlene Marie B. Berberabe President & Chief Executive Officer
New Pag-IBIG head vows transparency,
PROFESSIONALISM
New Pag-IBIG head vows transparency, professionalism The new President and Chief Executive Officer (CEO) of the Home Development Mutual (Pag-IBIG) Fund today vowed greater transparency and professionalism in the affairs of the Agency, saying that trust is key to the administration of the savings Fund. Coming from the private sector, Atty. Darlene Marie B. Berberabe,42, said she is eager to join government, and actively take part in nationbuilding. “I am deeply honored to be of service to the Filipino people. I am committed to lead Pag-IBIG with the highest standards of professionalism in dealings with its members and stakeholders. Transparency, good governance and integrity shall be synonymous with Pag-IBIG. The Fund exists for the members and so we shall serve, always with the best interests of the members in mind,” Berberabe said, adding that she is committed to help the Aquino-Binay Administration succeed. Berberabe, who hails from Batangas City, replaces former head Jaime Fabiaña. Berberabe brings a host of academic degrees and professional experience at the helm of the housing agency. She graduated from the University of the Philippines (UP) with Bachelor of Arts in Philosophy, summa cum laude in 1989, the only female among foursumma graduates in the whole UP system in 1989. She also has a Master of Arts in Philosophy in 1995, and Bachelor of Laws, 1999, Class Salutatorian. Prior to her appointment as Pag-IBIG chief, Berberabe was the head of the Corporate Legal department of multinational company Procter & Gamble (P&G) Distributing (Phils.), Inc. She joined P&G in 2004. Before that she was a Labor Associate at the Quisumbing Torres (Baker & McKenzie International) Law Office from 2000 to 2004. An academician, Berberabe was also a Professor of Philosophy for 10 years at UP Diliman, the first female Philosophy Professor; and Professorial Lecturer of Labor Law, Legal Method and Legal Theory at the UP College of Law from 2002 to 2008. REAL ESTATE WORLD │ 151
Pag-IBIG MEMBERSHIP AND LOANS
P
ag-IBIG is an acronym which stands for Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industria at Gobyerno. To this day, the Pag-IBIG Fund continues to harness these four sectors of the society to work together towards providing Fund members with adequate housing through an effective savings scheme. It is a government-controlled, Philippine corporation that serves as provident and housing fund, pooling together the investments of its members. Essentially, Pag-IBIG Fund is a synergistic cooperation of its various stakeholders, which include the following: Ever since it was created up to this day , the Pag-IBIG Fund has become the partner of the Filipino in realizing his dream of owning real property at an affordable price. Indeed, it is living up to its name of helping and uniting the four sectors of society, namely: the Filipino people, the financial sector, the industrial sector and the government sector, to achieve the future that they have always wanted by providing homes
Membership Coverage
Republic Act 9679 Sec. 2. Declaration of Policy â&#x20AC;&#x201C; It is the policy of the State to establish, develop, promote and integrate a nationwide sound and viable tax exempt mutual provident savings system suitable to the needs of the employed and other earning groups, and to motivate them to better plan and provide for their housing needs by membership in the Home Development Mutual Fund, with mandatory contributory support of the employers in the spirit of social justice and the pursuit of national development.
Mandatory Membership Requirement:
1. Valid ID 2. Employers and employees covered by the SSS and the GSIS; 3. Uniformed members of the Armed Forces of the Philippines, the Bureau of Fire Protection, Bureau of Jail Management and Penology, and the Philippine National Police; 4. Filipinos employed by foreign-based employers, whether they are deployed here or abroad or a combination thereof (OFW).
Voluntary Membership 152â&#x201D;&#x201A;REAL ESTATE WORLD
Membership to the Fund is also open to individuals 18 to 65 years old, provided they comply with the set rules and regulations for Pag-IBIG members including the amount of contribution and schedule of payment. This may include the following: 1. Non-working spouses who devote full time to managing the household and family affairs, unless they also engage in another vocation or employment which is subject to mandatory coverage. 2. Filipino employees of foreign government or international organization, or their wholly-owned instrumentality based in the Philippines, in the absence of an administrative agreement with the Fund; 3. Employees of an employer who is granted a waiver or suspension of coverage by the Fund under RA 9679; 4. Leaders and members of religious groups; 5. A member separated from employment, local or abroad, or ceased to be self-employed but would like to continue paying his personal contribution. Such member may be a pensioner, investor, or any other individual with passive income or allowances; 6. Public officials or employees who are not covered by the GSIS such as Barangay Officials, including Barangay Chairmen, Barangay Council Members, Chairmen of the Sangguniang Kabataan, and Barangay Secretaries and Treasurers; 7. Such other earning individuals or groups as may be determined by the Board by rules and regulations.
Pag-IBIG Mortgage Loan
Depending on the property and where you are buying it, Pag-IBIG Fund may give you a large amount of loan which is almost equal to the selling price of the property. But always bear in mind the maximum loan amount the Pag-IBIG Fund can grant you. If you find the amount too small for the property you are considering, you may need to come up with a large down payment or you may use an alternative financial institution.
Housing Loan Availment
This housing loan program grants opportunities to Pag-IBIG Fund members to avail of housing loans to finance any one or a combination of the following: 1. Purchase of a fully developed lot not exceeding 1,000 square
meters, which should be within a residential area; 2. Purchase of a residential house and lot, townhouse or condominium unit, inclusive of a parking slot, which may be: • Old or brand new; • A property mortgaged with the Fund; or • An acquired asset, which is disposed of through sealed public bidding, negotiated sale, the Rent-to-Own Program, or the “Magaang Pabahay, Disenteng Buhay” Program. 3. Construction or completion of a residential unit on a lot owned by the member; 4. Home improvement, i.e. any alteration in an existing residential unit intended by a homeowner to be a permanent integral part thereof, which will enhance its durability and material value; 5. Refinancing of an existing mortgage with an institution acceptable to the Fund, provided that: • The loan is not in default within 12 months prior to the date of application; • The said loan has a repayment history of at least two (2) years with the original mortgagee 6. Combination of loan purposes, which shall be limited to the following: • Purchase of a fully developed lot not exceeding 1,000 square meters and construction of a residential unit thereon; • Purchase of a residential unit, whether old or new, with home improvement; • Refinancing of an existing mortgage with home improvement; • Refinancing of an existing mortgage, specifically a lot loan, with construction of a residential unit thereon.
There are three (3) modes of applying for a PagIBIG housing loan: •
• •
Window 1 - the developer assists the member in his/her housing loan application and offers a buyback guaranty in case the borrower defaults in the payment of amortization and/or monthly contributions; Window 2 - the developer still assists the member in his/her housing loan application but does not offer any buyback guaranty; and Window 3 - the member applies directly to the Fund on his own
ELIGIBILITY REQUIREMENTS
To qualify for a Pag-IBIG housing loan, a member shall satisfy the following requirements: 1. On Pag-IBIG Membership • Must be a member under the Pag-IBIG I, Pag-IBIG II or Pag-IBIG • Overseas Program (POP) for at least twenty-four (24) months, as evidenced by the remittance of at least 24 monthly contributions at the time of loan application. • A member with less than the required number of contributions applying for a Pag-IBIG housing loan shall be allowed to make lump sum payment based on the mandatory monthly membership contribution rates (both EE and ER share) to meet the said requirement at point of loan application provided he has been a contributing member of the Fund for at least twelve (12) months. Lump sum payment of membership contributions shall be considered a single contribution for
• • •
2. 3. 4. 5. 6.
7. 8. 9.
the applicable month as of the payment date. A member whose loan exceeds P500,000.00 shall be required to pay the upgraded membership contribution rates upon housing loan approval and onwards A member who has contributed for at least two (2) years and whose loans exceed P500,000.00 shall be required to pay the upgraded contribution rates upon housing loan approval and onwards. For purposes of satisfying the required two (2) years membership contributions, the member may opt to pay in lump sum any amount short of the said requirement. In addition, the period corresponding to the TAV applied earlier to an outstanding loan shall also be considered when counting the total number of monthly contributions, provided the remaining TAV after offsetting does not fall below the equivalent amount of two (2) years membership contributions. Not more than sixty-five (65) years old at the date of loan application and must be insurable; provided further that he is not Has the legal capacity to acquire and encumber real property; Has passed satisfactory background/credit and employment/ business checks of the Pag-IBIG Fund; Has no outstanding Pag-IBIG housing loan, either as a principal borrower or co-borrower; However, should a co-borrower in a tacked loan signify an intention to avail of a Pag-IBIG housing loan for himself, he shall be allowed to do so provided the tacked loan is updated and the amount proportionate to his loan entitlement has been fully paid. Hence, the co-borrower shall be released from the original obligation and shall be allowed to avail of his own Pag-IBIG housing loan, subject to standard evaluation procedures. Had no Pag-IBIG housing loan that was foreclosed, cancelled, bought back due to default, or subjected to dacion en pago, which shall include cases where the borrower is no longer interested to pursue the loan and surrenders the property; Has no outstanding Pag-IBIG multi-purpose loan in arrears at the time of loan application. A member whose multi-purpose loan is in arrears shall be required to pay his arrearages over the counter to update his account.7
Documents Required Upon Loan Application
1. Housing Loan Application (HLA) notarized with ID photo – original copy 2. Approved Membership Status Verification Slip (MSVS) – original copy 3. Certified true copy of Transfer Certificate Title (TCT) of the property by the Registry 4. of Deeds (latest title) 5. Photocopy of updated Tax Declaration 6. Location plan and Vicinity map
For Employed Pag-IBIG Members:
1. Notarized Certificate of Employment and Compensation (Pag-IBIG Format) 2. Notarized Certificate of Employment and Compensation (Employer’s Format) and one month latest Pay Slip 3. Income Tax Return/Certificate of Tax Withheld (W2 – Form 2316) and one month latest 4. Pay Slip REAL ESTATE WORLD │ 153
For Self-Employed Pag-IBIG Member: 1. Income Tax Return (one year) with Audited Financial Statements and Official Receipt of tax payment from bank 2. DTI Registration 3. Business or Mayor’s Permit
For Pag-IBIG OverseassProgram (POP): 1. Employment Contract or Employer’s Certificate of Income, duly certified by the 2. employer (with English translation if in foreign language) or other valid Proof of Income 3. Special Power of Attorney (SPA) notarized prior to date of departure or duly certified and authenticated by the Philippine Embassy or Consulate in the country where the member is staying, for members abroad 4. Additional Requirements - Depending on the purpose of your housing loan, Pag-IBIG may ask that you submit the following upon Loan Application.
Purchase of Lot or Purchase of Residential Unit 1. Contract to Sell/Purchase Agreement – original copy. 2. House Construction or Home Improvement Building Plans, Specifications and Bill of Materials duly signed by the Licensed Civil Engineer or Architect 3. .Real Estate Tax Receipt
Refinancing of an Existing Loan 1. 1.Statement of Account on the outstanding balance and also indicating the purpose of the loan 2. 2.Any of the following documents: • Official Receipt for the past twelve months • Subsidiary Ledger • Any proof of payment for the past twelve months
Lot Purchase and House Construction
1. Comply the requirements for lot purchase and for lot construction. Note: Pag-IBIG Fund reserves the right torequire additional requirements to facilitate the loan evaluation process.
Documents required prior to Loan Release (upon approval)
1. TCT in the name of the borrower with proper mortgage annotation in favor of Pag-IBIG 154│REAL ESTATE WORLD
2. Fund (Owner’s Copy) 3. Certified true copy of TCT in the name of the borrower with proper mortgage annotation in favor of Pag-IBIG Fund (RD’s copy) 4. Photocopy of New Tax Declaration in the name of the Borrower and Updated Tax Receipt 5. Proof of Billing 6. Loan Mortgage Documents 7. Loan and Mortgage Agreement with original RD stamp 8. Notarized Promissory Note 9. Disclosure Statement on Loan Transaction 10. For The Employed Members : Collection Servicing Agreement with Authority to Deduct Loan Amortization or Post – Dated Checks 11. For The Self–Employed Members: Post–Dated Checks 12. Additional Documents Prior to Loan Release depending on Loan Purpose Purchase of Lot or Purchase of Residential Unit: Deed of Absolute Sale with original RD stamp. House Construction or Home Improvement: 1. Building, Electrical, and Sanitary Permits duly approved by the building officials 2. Occupancy Permit.
This is the official document where you signify your intention of getting a loan. 4. If you are qualified for a loan, you will be given the Checklist of Requirements (COR)depending on the purpose of your housing loan. Fill-up the HLA only after knowing your status. (Read Step 3) Step #3: Submit HLA And Other Required Documents. This will probably take a couple of days to comply. But once all of the documents in the requirement checklist are ready, submit them together with the Loan Application Form. You will be asked to pay the processing fee, which is non-refundable. Step #4 Wait for The Notice of Loan Approval or Letter of Guaranty. Or if you can’t wait on your mail box, phone them to follow-up the status of your loan application. Step #5. Sign Loan Documents. There are some and will be provided at the Pag-IBIG Fund office. Step #6: Visit the Bureau of Internal Revenue and Registry of Deeds. 1. Pay for the documentary stamps and capital gains tax at the BIR. 2. Have the Registry of Deeds put an annotation of mortgage on the Land Title.
3.
1. Original Transfer Certificate of Title (TCT) in the name of the applicant with annotated mortgage 2. Deed of Absolute Sale with original stamp from the Registry of Deeds 3. New Tax Declaration in the name of the applicant 4. Updated Real Estate Tax Receipt (for house and lot, if applicable) 5. Occupancy Permit (secured from LGU Engineering Office, if applicable) 6. Assignment of Loan Proceeds Most likely, you will also be asked to make an advanced payment on the first monthly amortization immediately following the loan release. So have your cash or check ready.
The Pag-IBIG Housing Loan Process This can be filed as one of the frequently asked questions:
“How can I apply for a Pag-IBIG Housing Loan? Step #1: Attend The Loan Orientation. Officially, it’s called Loan Counselling Session. It’s conducted at any Pag-IBIG Office all over the Philippines. Check your nearest Pag-IBIG Fund office to check their scheduled Loan Counselling Session. Step #2: Fill Up Some Documents. Normally, you will be asked to accomplish the following documents: 1. Preliminary Counselling Questionnaire – Some basic questions that are easy to answer. 2. Membership Status Verification Slip (MSVS) – This will be used by the assigned staff to check your records and contributions to the Pag-IBIG Fund. 3. Housing Loan Application (HLA) –
Step #7. Get Loan Proceeds. But you have to show Pag-IBIG Fund the following documents:
Further Note: If you are buying a property from a real estate developer, this whole process would be easier. All that are needed is for you to follow Steps 1 to 3. Ask your agent or broker if he/she can assist on the housing loan application most often you will be extended an assistance. AVJ-REW Trunklines: (02)811-4401 to 2 connecting all departments publicaffairs@pagibigfund.gov.ph Call Center: 724-4244 http://www.pagibigfund.gov.ph
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Matabungkay Beach Resort & Hotel Lian, Batangas, Philippines
Rediscover the tradition… Experience Matabungkay Beach Resort & Hotel and live in the midst of the total resort experience. From relaxing day spas to fun sports activities to just lounging around by the poolside, this resort in Batangas has everything that you’ll ever need for your perfect summer getaway.
Cozy Accommodations with Modern Amenities Relax in the comfort of cozy guestrooms and suites that provide you with all the basic amenities to make your stay a memorable one. Matabungkay Beach Resort & Hotel boasts 51 Deluxe Rooms, two Deluxe Suites, six one-bedroom Family Suites, six Superior Family Rooms, and 16 Beach Side Villas. details
All-Around Facilities and Services Matabungkay Beach Resort & Hotel prides itself of being an ideal venue for weddings. Take your marriage vows by the beachside and have a private romantic getaway that’s sure to add bliss to the start of your married life.details
Accommodations Matabungkay Beach Resort & Hotel is the total resort experience. Whether for a family vacation, a company outing or a honeymoon getaway, this resort in Batangas, Philippines has something for everyone. Choose from their selection of comfortable Batangas accommodations.
DE LUXE ROOM
Cable television Mini-bar Minimum of 2 guests and maximum of 4 guests Room Only Maximum number of occupants 2 guests Lowest Rate at Philippine Peso PHP 3700 Net
DELUXE SUITE
Cable television Mini-bar Hot and cold shower IDD & NDD phone Lowest Rate at Philippine Peso PHP 6000 Net
FAMILY (1-BEDROOM) One-bedroom suite with queen-sized bed Cable television Mini-bar Lounge and dining area Minimum of 3 guests and maximum of 5 guests 156│REAL ESTATE WORLD
Room Only Maximum number of occupants 3 guests Lowest Rate at Philippine Peso PHP 4900 Net
SUPERIOR FAMILY (2-BEDROOM)
Two-bedroom suite with queen-sized bed Cable television Mini-bar Lounge and dining area Minimum of 6 guests and maximum of 8 guests Room Only Maximum number of occupants 6 guests Lowest Rate at Philippine Peso PHP 6200 Net
BEACHSIDE VILLA
Room with attic bedroom and Terrace Lounge and dining area Minimum of 6 guests and maximum of 8 guests Room Only Maximum number of occupants 6 guests Lowest Rate at Philippine Peso PHP 5000 Net
“CAFE CABALERO” serves 100 seating capacity
“COGON BAR” provide all kinds of drinks
FAMILY POOLS (Adults and Children)
Lotte World Tower Main Dining Hall at “CAFE CABALLERO” Matabungkay Office Address LPL Towers, 112 Legaspi St., Legaspi Village., 1200 Makati City, Philippines Tel. No. (632) 752-5252 / 819-3080 / 751-6683 and 85 Matabungkay Location Address Brgy. Matabungkay, Lian, Batangas Tel. No. (0917) 834-12 69 Fax No. +632.817.1176
Real Estate World Events Know the latest developments around the world as we round up new landmarks that dot the globe. Lianne R. Padilla United States of America One World Trade Center will sit on the World Trade Center complex where the former World Trader Center towers once stood. The 105-story will be among the tallest buildings in the world upon its completion on 2013 with its radio antenna reaching a symbolic height of 1,776 feet (541.3m) as an ever-present symbol of renewal and hope for the future. The building incorporates highly-advanced safety requirements that exceed the New York City Building Code and will set the standards for high-rise buildings. Workers commuting to One World Trade Center will enjoy unprecedented access to mass transit service. Climate control corridors will connect the tower to One World Trade Center Transportation Hub and the new PATH terminal and other transit lines which will make it convenient for everybody going to tower. The complex will also house the memorial and museum which will serve as a reminder of the terrorist attacks of September 11, 2001 and February 26, 1993. Korea The Lotte World Tower, currently under construction, will house the worldâ&#x20AC;&#x2122;s tallest observation deck on its 123rd-floor at 497.6 meters. The structure will be a mixed-use type of building with offices and retail located at the bottom while the upper floors will be used for hotel accommodation and observation deck. At night, this superscraper will be visually stunning with lights that will bring color to the Seoul skyline China The Shanghai Tower will be one of the three tallest buildings in China. When completed, it will join the Jin Mao Tower and Shanghai World Financial Center to form the only group of super tall skyscrapers adjacent to each other. With 632 meters in height, it will be the tallest of the three structures and will be the second tallest in the world, second to Burj Khalifa in Dubai. The Shanghai Tower will house Class A office spaces, retail, luxury hotel and cultural venues. United Arab Emirates The Marina 101 is poised to become the third tallest residential building in the world after the Princess Tower and Pentominium. This super building will have 324 hotel rooms and 516 residential units. A mix of retail, recreational and leisure will occupy 11 floors of this mix hotel and service apartment.
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United Kingdom London is all set to host the 2012 Olympics with its final piece of turf laid on the London Olympic Stadium last April 2011. According to reports, the London Olympic Stadium is the most sustainable ever built. With a low supply on steel, builders resorted to other materials including low-carbon concrete, which is made from industrial waste, making the stadium 75 percent lighter in terms of steel use. It is designed to be flexible enough to hold a host of events during the Olympics. The Olympic Park Legacy Company and current mayor of London decided to keep the stadium under public ownership and will continue to be a venue for sports, athletics and cultural events.
Philippines In the local real estate scene, several groundbreaking properties are expected to rise within the central business districts. The Zuellig Building is the first precertified Gold Level LEED Gramercy Residences
Core and Shell development in the country to date. Located along the corner of Makati Avenue and Paseo de Roxas, the structure is expected to reach completion within the year. Zuellig Building’s precertification has raised the standards of local developers in the country and has encouraged more companies to go green. With the introduction of BERDE (Building Ecologically Responsive Design Excellence), the LEED counterpart in the country, people can expect for more ecologically sound structures to be built in the years to come.
Philippine Skyscrapers The Gramercy Residences is a residential condominium currently being constructed along Kalayaan Avenue. It now holds the title as Horizons 101
Shanghai Tower the tallest building in the country with 302 meters surpassing the current title-holder PB Com Tower which has 259 meters in height. Horizons 101, is a residential condominium property situated along Mango Avenue, Cebu City. It’s a prime real estate property which is a walking distance away from the city’s central business district. It has a total of 59 floors and holds the title as the tallest building in Cebu City. Limketkai Hotel and Resort, is an 18-storey, 224-room hotel and resort development project within Limketkai’s 30-hectare commercial complex in Cagayan de Oro City. Upon completion this year, the hotel will become the tallest building in Mindanao. REAL ESTATE WORLD │ 159
JOYA LOFTS AND TOWERS is a modern, unique and innovative concept. Consisting of two yin-yang shaped high-rise residential towers, Joya put a fresh and hip new meaning to the term ‘’ East Side .’’ Architects W. V. Coscolluela and Associates and Hart Howerton of San Francisco are responsible for the sheer elegance and beauty of these high-rise condominiums. Three masters are behind the artful interiors: Guillermo J. Valdez of California, Arlen P. De Guzman Design Associates and Erfe & Associates. Rockwell continued to introduce innovations in the market as it pioneered loft living in the country. Joya’s bi-level lofts were turned over completely bare, allowing owners the full freedom and luxury of designing their bare units to suit their taste. Imagine your own home as your own canvass. To top it all off, Joya also offers all the recreation you want with three swimming pools in a tropical landscape setting that connects to a garden and playground that provide a breathtaking city view for podium units. A two-level wellness center consisting of a gym, spa, dance area and game room are available exclusive for its residents’ enjoyment and relaxation.
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The safety, security and convenience of living within a master-planned community are what make Joya Lofts and Towers 100% Rockwell. Enjoy the comfort of never having to experience blackouts with Rockwell Center’s 28-megawatt power back-up. Whether you cross the street or take private underground tunnels to Power Plant Mall and Rockwell Club, Rockwell ensures that every pedestrian is securely assisted from one point to another, even when everything is merely just a stone’s throw away. Become a part of the Rockwell Community today! For residential leasing inquiries and viewing schedules, contact Renne Isidro through 828-3333 or 09174336484. REAL ESTATE WORLD │ 161
THE NEW GENERATION REAL ESTATE SERVICE PROVIDERS RENNE R. ISIDRO
W
ith the very competitive condominium market, professional and career oriented real estate service providers are much needed by the industry. Condominium marketing is not limited to pre-selling and open houses, there is a need to provide service to the investors of these projects such as leasing and property management. The Rockwell project is the pioneer of providing a Leasing Department to its investors, let us have a at look the background of this next generation service providers.
R
hea joined Rockwell Land Sales Department after graduating from Assumption College with a Degree in International Business and Economics. She became a Leasing Supervisor when The Manansala was being turned over, then moved to Joya Residential Leasing Department with her current position as Assistant Manager. She decided to have a career with Rockwell for the prestige of handling the high-end market. She enjoys her job dealing with all sorts of nationalities and cultures, and treats her staff like family, most of the time mentoring the “green horns”. Rhea looks forward to a very promising career in Real Estate and tries to be ahead on the trends in Real Estate Management.
RHEA VANESSA LORENZO
ASSISTANT MANAGER Joya Leasing Department-Rockwell Department 162│REAL ESTATE WORLD
1. SARAH ADRIANNE CAMBA
UST, BS Commerce Major in Business Administration Why did you choose Real Estate: I chose real estate because it’s very challenging and exciting Why did you consider Rockwell: I like working here because of the people and the environment
1 2.NORLINA LIBRELLA
UP Diliman, BS Hotel, Restaurant and Institution Management Why did you choose Real Estate: Real Estate is a very dynamic industry. It is a combination of a lot of different aspects of life and work – architecture, design, construction, sales, management and relationship networking. I believe that if I can make it in the Real Estate industry, then I can make it almost anywhere else! Why did you consider Rockwell: Rockwell has been known for providing only the highest quality service and products, and I only want to work for the BEST!
2 3.MARK NICOLAS DE LEON
DLSU, BS Business Management Why did you choose Real Estate: I chose the Real Estate Industry because it is fast growing, more especially the Residential Condominium Sector Why did you consider Rockwell: Being the first company to set up an in-house Leasing Office in the industry, I considered Rockwell since I know the job suits the strengths I have, and will help me overcome my weaknesses to further develop myself as a whole.
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3 4.TARA PATRICIA TANOS
St. Paul University, BS Tourism Why did you choose Real Estate: I chose the Real Estate Industry because of its highly dynamic environment that challenges me. Why did you consider Rockwell: Rockwell was able to transform the old thermal power plant fifteen years ago into a beautiful high-end residential community and that is why I chose to work for this company, who gives importance on sustainable development and social responsibility.
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5. WENDY ALCAYDE
St. Scholastica’s College, AB Mass Communication Minor in Broadcast Journalism Why did you choose Real Estate: I chose Real Estate because of its dynamism. Why did you consider Rockwell: I am destined to be here!
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RESIDENTIAL CONDOMIUM
ON-GOING
PROJECTS
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3 4 1. NAME: The Trion Towers LOCATION: 8th Avenue corner McKinley Road, Bonifacio Global City, Taguig STOREY: 49 floors, five floor basement TURN OVER: May 2015 DEVELOPER: Robinsons Land 2. NAME: The Address at Wack Wack LOCATION: Wack Wack Road, Mandaluyong City STOREY: 32 floors TURN OVER: December 2012 DEVELOPER: Madrigal-Bayot Development 3. NAME: Anchor Skysuites LOCATION: Ongpin Street, Binondo, Manila STOREY: 56 floors DEVELOPER: Anchor Land Holdings 4. NAME : Arya Residences LOCATION: Bonifacio Global City, Taguig City STOREY: 39floors TURN OVER: First Quarter 2014 P 5. NAME: Solemare Parksuites LOCATION: Along Macapagal Boulevard STOREY: 18 floors DEVELOPER: Anchor Land Holdings 6. NAME: Admiral Baysuites LOCATION: Along Roxas Boulevard, Manila STOREY: 53 floors TURN OVER: Late 2015 DEVELOPER: Anchor Land Holdings 7. NAME: Wharton Parksuites LOCATION: Masangkay corner La Torre Street, Sta. Cruz, Manila STOREY: 39 floors TURN OVER: December 2012 DEVELOPER: Anchor Land Holdings 8. NAME: Blue Residences LOCATION: Along Katipunan Avenue corner Aurora Boulevard, Quezon City STOREY: 41 floors TURN OVER: December 2014 DEVELOPER: SM Development Corporation 9. NAME: Twin Oaks Place LOCATION: Greenfield District, Shaw Boulevard, Mandaluyong City STOREY: 43 floors, five floor basement TURN OVER: May 2014 DEVELOPER: Greenfield Development Corporation 10. NAME: Wind Residences LOCATION: Along Aguinaldo Highway, Brgy. Maharlikha West, Tagaytay City STOREY: 10 floors # OF BUILDING: 10 buildings TURN OVER : 2nd Quarter 2014 (Tower 1) Last Quarter 2013 (Tower 2) DEVELOPER: SM Development Corporation
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FINEX
Financial Executives Institute of the Philippines
Presents
“OUTLOOK FOR THE REAL ESTATE INDUSTRY IN 2012”
REAL ESTATE IN PARTNERSHIP
TRUSTED TRADE REFERENCE WITH A GLOBAL REACH
WORLD
Mandarin Hotel Manila Ball Room 3 March 7, 2012 Wednesday 2pm to 5:30pm Forum fee: Php 2,000 for members Php 2,500 for non-members
UNIT 1901, 19/F, 139 CORPORATE CENTER VALERO ST. SALCEDO VILLAGE, MAKATI CITY (32) 811-4052 (632) 811-4185 164│REAL ESTATE WORLD
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