In the run up to the inaugural Property Report Congress 2015 on 21 October at the Shangri-La Hotel, Singapore – we’ve only 9 days to go – we review the markets that will be featured at the event’s country sessions
The Philippines: awakened
If the overwhelmingly positive response to the annual Philippines Property Awards is any indication, we can assume that the Philippines’ property sector is fast-becoming a major player in ASEAN real estate. The commercial segment is very bullish, as demonstrated by growth of the office sector, which also impacts the development of urban townships not only in the capital Metro Manila, but also in second-tier cities across the archipelago.
While the future is bright for the local industry, per analysts’ observations and based on reports of a growing industry supported by a booming economy, real estate professionals believe that the country also needs to pay attention to sustainability and green building. Plagued by problems such as overpopulation, pollution and poor urban planning, the Philippines is badly in need of a green rehabilitation – and many developers are increasingly becoming aware of the situation.
We asked some experts in Philippine real estate if they recognise the signs that the Philippines is ready for a more sustainable tomorrow, and here are their responses:
“A lot of the big developers have stepped up their game this year… they look at innovation, they look at design; some of the developers also look at smart or green technologies to incorporate in a lot of their projects.
“It may sound cliché but when you live in the Philippines where there is an average of 20 typhoons a year, the environment and natural disasters takes on a major consideration in any development. I am also concerned that there is overdevelopment in key cities and developers have to continuously look for other areas to decongest larger urban centres.“ – Cyndy Tan Jarabata, president of TAJARA Leisure & Hospitality Group Inc
“We won the Best Green Development (Philippines) award in 2015. It has been our company’s core principle to be environmental-friendly…. Our company’s major businesses are actually developing renewable energy such as hydro power plants and natural power plants, and right now we’re focused on that.” – Caroline Tanchay, CEO of Monte De Tesoro Corporation
“Today, a majority of real estate companies have already integrated green building and sustainability strategies into the way they design, build, and operate their projects as they understand that this is a win for all parties involved. The environment wins with reduced impact and resource strain from projects, users win as they get healthier spaces with lower operating costs, and owners win by attracting customers, future-proofing their projects, and enhancing their corporate social responsibility.
“While we are still far behind many countries when it comes to environmental initiatives, the good news is there is growing momentum. The awareness and desire for sustainability is already strong, but we really need to improve on the level of commitment and action.” – Ramon Fernando D. Rufino, executive vice-president of The Net Group and chairman of the Philippine Green Building Council
Learn more about the current challenges and opportunities in the country’s real estate industry during the Philippines breakout session at the first-ever Property Report Congress, from 14:15 to 14:45.
The exclusive panel will feature the country’s top industry experts, including Real Estate Personality of the Year 2015 Winner Ramon Fernando D. Rufino; Abelardo M. Tolentino Jr., president and CEO of Aidea Philippines Inc.; and moderator Cyndy Tan Jarabata, three-term chairwoman of the judges panel of the Philippines Property Awards.
Join the rest of Southeast Asia’s real estate, architecture and design elite and VIPs as they gather at the Property Report Congress to discuss how to continue driving growth and excellence in some of the world’s most dynamic industries, including the Philippines’ rapidly emerging real estate sector.
Click here for the full agenda of the whole-day Property Report Congress, which includes breakfast, sponsors exhibits, plenary sessions, industry overview and outlook, international networking session and lunch, country-focused breakout sessions, and immediately followed by the fifth annual South East Asia Property Awards 2015 grand finals.