The Evolving ASEAN Property Landscape
COMPLETION REPORT ON CPD PROGRAM
Name of CPD Provider : PHILRES, INC.
Accreditation No.: 2013-001 EXPIRY DATE: ______________
Contact Person: Josefina D. Magumcia Designation: Secretary General
Contact No.: 0920- 9100569 Date of Application: Aug 28, 2015
Title of Program: THE EVOLVING ASEAN PROPERTY LANDSCAPE
MOBILIZING FOR THE BORDERLESS REAL ESTATE MARKET
Program Accreditation No: Date of Accreditation: Sept. 29, 2015
Date Started: September 28, 2015 Date Completed: Sept. 29, 2015
Venue: Halls 3 & 4, SMX Convention Centre, Mall of Asia, Pasay City
Total No. of Participants:
Executive Summary:
The recently concluded PhilRES National Convention held in SMX Convention Centre at Mall of Asia last Sept. 28-29, 2015 was a huge success and was attended by close to a thousand of real estate practitioners from all over the country. The positive feedbacks received from the delegates who were present in the PhilRES National Convention cited the timeliness and relevance of the topics, the obvious expertise of the speakers in the topics of assignment and the professional and high tech management of the learning sessions. The delegates further commented that PhilRES National Convention of Sept. 28-29, 2015, has set the benchmark of future conventions in the real estate service industry and was unanimously hailed as the first and the best of its kind so far.
The Convention has a total of 14 topics and 14 expert speakers with the Q&A portions after each plenary session that lasted for about 30 minutes per session, that were carefully handled by moderators who paved the way for a more enlightening portion of their talks that further substantiate the topics that were discussed before the delegates. All the featured convention speakers were well applauded by the delegates.
A highly technical Keynote Address on the Impact of ASEAN Integration on the Real Estate Industry was delivered by the Guest of Honor and Speaker, the Hon. Cristino L. Panlilio, former DTI Undersecretary for Trade and Investments and Managing Head of the Board of Investments
The speakers included experts on geo-politics and diplomacy, local and global real estate industry developments, marketing in the digital age, best practices and reforms in environmental and urban planning of new and recent real estate projects, and making local practitioners better prepared and more competitive in a fast globalizing real property market. Specific ASEAN challenges and opportunities in a borderless regional economy were also taken up.
Below were the topics discussed with corresponding lecturers/speakers of PhilRES National Convention Program with brief synopsis and learning acquired during the sessions:
Impact of Asean Integration on the Real Estate Industry – delivered by Keynote Speaker and Guest of Honor Honorable Cristino L. Panlilio, former DTI Undersecretary for Trade and Investment and Managing Head of Board of Investments. The future of the Philippine Economy was discussed in detail, being the real estate industry contributing to a more or less 9% to the total GPD of the Philippine Economy.
BUILDING THE ASEAN COMMUNITY THROUGH INTEGRATION - Plenary Keynote Speaker Amb. Delia D. Albert, Senior Advisor, SycipGorresVelayo & Co, (SGV & Co.)/Ernst & Young.
The ASEAN integration is the most talked-about topic across sectors, especially in the light of the ASEAN Economic Community projected to be implemented this 2015. Industries are getting ready for the changes the integration is expected to bring about, assessing our capabilities and capacities, developing our competitiveness and at the same time exploring areas of cooperation with our counterparts in this emerging environment.
There is cautious optimism and there are apprehensions and misgivings. These are due in large part because most of the discussions are on content - what the integration is all about. It is critical that ASEAN is also understood by its context – what brought this about and why there is a need for integration. This discussion is important for the sector to define its ASEAN agenda and how to best to take advantage of the opportunities on offer.
ASEAN ECONOMIC COMMUNITY 2015: Redrawing the Lines in Real Estate Service – Plenary Speaker Mr. Gil Gonzales, VP for Corporate Governance and Risk Management, SM Investments Corporation
Should the real estate sector be optimistic about the ASEAN integration as the ASEAN Economic Community comes into fruition by January 2016? Economic Analyst and property consultants all say that the Philippines is poised to take advantage of a strong real estate market, supported by a steady growth rate, better investment rating and low inflation rate.
How should the sector come together to translate these optimistic forecast into concrete business opportunities? What should be done to make this industry competitive?
NATIONAL AND BORDER SECURITY MATTERS: Why It will Take a Village Approach – Plenary Keynote Speaker Rafael Alunan, Chair, National Security Committee, Management Association of the Philippines
Safety and security is a real estate sector concern. Disputes, terrorism, cyberattacks and hacking, upheavals and unrests seem to occur with increasing frequency and these in turn creates apprehension and fear among people scouting around for properties or communities.
Low sector activity as an offshoot of such safety and security factors will have an adverse economic impact especially for areas where the major source of business is property-related. It is therefore an imperative that the risks posed by such security concerns be understood so that proper plans can be put in place to mitigate its negative effects. Several concerns were discussed which posed great concerns to the Philippine security most especially the Chinese occupation on the parts of China Sea and the pending passing of BBL for the Mindanao Areas.
EXPANDING THE REAL ESTATE SERVICE REACH: The Asia Pacific Region and Beyond – Plenary Speaker Mr. Frederick Santos, Chair, Founder and Managing Partner, CB Richard Ellis Philippines, Inc.
The APEC ensures that goods, services, investment and people move easily across borders. Members facilitate this trade through faster customs procedures at borders, more favourable business climates bend the border; and aligning regulations and standards across the region. The speaker discussed on the APEC impact on the real estate and property sector, the barriers to industry competitiveness and how the practice and business be enhanced.
THE ROAD TO CONVERGENCE FOR ASEAN APEC: The Right of Way – Plenary Speaker Mr. Eric Manuel, VP for Business Development and Marketing, Daiichi Properties
Mr. Manuel said that both ASEAN and APEC have many goals and aspirations in common. Many of the ASEAN member-countries a reactive players in both ASEAN and APEC. The two aggrupations seek to bring about the promotion of economic cooperation. Notable areas where ASEAN and APEC can potentially collaborate to maximize resources include trade facilitation, investments, food security, and promotion of SMEs, disaster management, supply chain and connectivity. ASEAN and APEC should complement each other to hasten the achievement of these common goals but the challenge is how can this be done? What institutional policies and mechanisms should be in place to ensure that the objectives are seamlessly connected to the overall economic development goals? How should such convergence play out and which initiatives would have the highest probability of success?
THE CHANGED REAL ESTATE LANDSCAPE: Planning for Environment, Climate Change and Disaster Management – Plenary Speaker Mr. Paolo Alcazaren, Principal, PGAA Creative Design / PDAA Design International
This is one of the topics that the delegates were so pleased to hear about and learned about the changed in Real Estate Landscape not only for new real estate project but also for an existing and old project with improvements.
The property business makes an impact because it creates livable communities, shapes cities, create jobs and livelihood. When disasters, whether natural or man-made occur, there must be a plan in place that can mitigate the effect and manage the risks because of its negative impact on the economy.
Disease outbreaks, pandemic threats... these are all matters of concern for the real estate sector because of its negative effects. How should developments be planned so that it will not endanger lives or eradicate communities? How should the industry prepare for these occurrences? How critical is business continuity planning when there are adverse events?
The speaker properly presented the new landscape for developed areas such as the progressive Iloilo City, Cebu City, Ortigas, Pasig City and other areas which brought new developments to the places.
THE EMERGING REAL ESTATE MARKETS: TRENDS AND NEW COMPETENCIES – Plenary Speaker – Dr. Donald Lim, Chief Information Officer, ABS-CBN
Digital is now a ‘space’ that can be occupied. Many of the industries have been taken over by DIYs notably travel, accommodation and hospitality, entertainment, transportation to name a few. The trend is seen to grow even bigger and its encroaching influence is seen in the real estate sector as clients have begun consulting online providers such as Rentpad for their property requirements.
How will the real estate practitioners survive the digital technology which is ‘foreclosing’ their domain expertise by providing customers with online alternatives? How will they stay relevant in this new marketplace? How should the sector redefine its role so that it can survive the onslaught and even open up new opportunities in this evolving environment?
The speaker expertly discussed The New Digital Economy. He explained that customers are empowered in the collaborative Economy Era: The Brand Experience Era; Customer Experience Era; and Collaborative Economy Era. The Digital Media is classified into 4 categories namely 1) Owned Media 2) Leased Media 3) Paid Media and 4) Earned Media
He further explained that as we move towards 2016, the following are to be expected:
The Reality of the AEC something we cannot ignore 2) But AEC is just the Alarm clock, the tickling time bomb 3) Digital was the AEC of Business 3) Digital age + AEC = Real Estate industry transformation
THE POWER OF THE MILLENIAL MARKET – Plenary Speaker Mr. Gregorio S. Navarro, Managing Partner & CEO, Navarro Amper & Co. Deloitte, Phils.
The millennials are the future real estate market. Most are tech-savvy, better-off economically, concerned about work-life balance and seeing the world is a top-of-the-list aspiration. The homes they will own will have allow them to have their space and privacy, secure enough to leave at the drop of a hat and affordable because so many other things are in their to-do list.
As the millennials enter the real estate market, will they be city-dwellers or will they eventually prefer the outskirt communities where they will have schools, employment and lifestyle they can sustain till retirement? It makes business sense to study this market because whichever course they will take, their number will make it worth the time to plan the real estate strategy to respond to this big market.
The delegates enjoyed listening to the speaker and were awed with the power that the Millenial group can contribute to the real estate market. He taught the delegates several ways to build businesses with them in real estate making use of the digital marketing.
The speaker has the mastery of the subject matter as he is very much involved in the digital marketing. The above topic was practically addressed to the Millenial group but was greatly appreciated by the Baby Boomers Group, too. The digital giants such as Google, Instagram, Twitter, Facebook, Microsoft were designed to equipped us with the latest and most in demand digital marketing skills needed in order to be at par in today’s digital driven economy.
BUILDING THE BRAND: Defining the Value, Owning the Equity – Plenary Speaker Mr. Teodoro’Junie’ Del Mundo, Chair and CEO, EON, The Stakeholder Relations Firm
In a world where so many choices are now available, individuals and organizations need to be able to distinguish themselves and stand out from the rest of the pack. It is critical that who you are and what you do are communicated well to the target market served. It should not send confusing signals or try to be all things to the market. It is defining what the value proposition is and how best to position the brand.
He discussed that the Brand is a relationship between you and the audience. 1) What you say about yourself 2) Who you really are 3) What people hear about you.
The ABCs of Branding
A – Audit : Understand the brand context and audience to discover opportunities for positioning the brand;
B – Blueprint: Define the structure of the brand and the tools needed to deliver the message to stakeholders;
C - Cascade: Align the organization around the brand. Ensure the roll out of activities that will reflect the brand and communicate its messages
What is the brand for the Philippine real estate sector? How effective is this brand being communicated to its stakeholders. Is there a need to redefine the brand? Is there even a brand in the first place? Competing in the regional and global market requires that the brand be consistent and the challenge is living up to the brand.
The real estate service industry is a highly competitive business as practitioners grow in numbers. It is important that you established your personal brand. The personal brand is how the world perceives you – the reputation you have earned through the good services you have given your clients. Your personal brand determines whether people want to work with you, do business with you or refer business to you.
Take control of your personal brand and purposefully live it. Your brand is your strength, your story. You are your own best ambassador, as well as that of your organization or business. By enhancing your brand, you not only strengthen your credibility but also contribute to the growth of your organization or business.
TRANSFORMING LOCAL REAL ESTATE PROFESSIONALS INTO GLOBALLY COMPETETIVE PRACTITIONERS- Plenary Speaker Engr. Wilfredo L. Segovia, President/CEO, W.L. Segovia & Associates
The Philippines has become a new real estate destination for global investors. It is, therefore, imperative that our real estate professionals become globally competitive. What is the knowledge base required? What are the skills needed? What are the best practices and strategies to get into the global market? It is important to motivate our country’s real estate service practitioners – particularly the young among them – to level up to the global challenges of their professions.
Engr. Segovia further apprised the delegates that the RESPs in the country consist of the ff.
Real Estate Brokers 25,775; Real Estate Appraisers 8,815; Real Estate Consultants 116.
For global competence the following should be an additional qualifications: Cultural empathy; foreign language skills; love for travel; higher internet knowhow; deal structuring; government connections.
We should also learn how to organize and manage a FIRM where you can offer several real estate services. Engr. Segovia also discussed the Top ten Countries of destination of Overseas Filipinos such as USA, Canada, UK, UAE, Saudi Arabia, Kuwait, Qatar, Malaysia, Japan and Australia.
EMERGING DIRECTIONS IN REAL ESTATE TAXATION IN THE ASEAN REGION – Plenary Speaker Atty. Benedicta Du-Baladad, Managing Partner & CEO, BDB Law
The speaker discussed on the taxation of real estate in the Philippines. She said that there are multiple taxes on property ownership and transfers ( high transfer taxes); lack of uniform property valuation and methodologies; outdated real estate values and inadequate qualified appraisers/assessors. She mentioned that SB415/HB 5288 – An act instituting reforms in real property valuation and assessment should be further studied. The act intends to have the following results: 1) nationally consistent real property valuation using market value as the single property valuation for assessment of properties 2) Separation function of valuing/appraising 3) professionalization in the valuation/appraisal 3) comprehensive and electronic database of transactions.
She further commented which the delegates all agreed that a further study is being made to extrajudicial (estate) taxes of deceased member of the family with ownerships on real estate.
THE ROLE OF GOVERNMENT ASSESSORS/APPRAISERS – valuing properties in the context of ASEAN Integration – Plenary Speaker Gilbert B. Gumabay, BLGF Regional Director of Region X.
THE PHILIPPINE VALUATION ROADMAP – Plenary Speaker Mr. Roche Rigos
In an emerging dynamic real estate market, what is the role of the Professional Valuer? What current advocacies for professional development and for government policy reforms are likely to affect Valuation? What are the current efforts for building up the capacity and skills of the professional valuer to serve and compete in a wider market that is borderless and global in scope and opportunity?
Engr. Rigos addressed the foregoing issues as he expounded on: 1) The Evolution of the Valuation Profession in the Philippines; 2) The Valuation Professional’s advocacies, role, and participation in government policy reforms that affect Valuation for investments, taxation, and government accountability; 3) Professional development, capacity building and self-regulation through standards setting, a code of ethical and professional conduct, designation development, continuing education, maintenance of international affiliation, and a system of professional self-regulation.
Supporting Documents:
_______ List of Participants (Name & PRC License No.)
_______ List of Lecturers, Resource Speakers, etc. (Name & PRC License No.)
_______ Evaluation forms accomplished by participants
_______ Others ______________________________
Certified Correct By:
JOSEFINA D. MAGUMCIA
(Signature Over Printed Name)
Secretary General
Position
__________________________