real estate world by real estate world

REAL ESTATE Ć&#x2039; Ć&#x2039; Ć&#x2039;Ć&#x2039;Ä?Ć&#x2039; Ć&#x2039; Ć&#x2039;Ć&#x2039;Ä?Ć&#x2039;Ć&#x2039; Ć&#x2039;Ä&#x2019;Ć&#x2039; Ć&#x2039;

WORLD

SENATOR EDGARDO ANGARA:

REAL ESTATE INVESTMENT TRUST

THE

HOUSING CZAR VICE PRESIDENT JOJO BINAY reall state cove layout.indd 3 i dd 1

GEMS

to grow

Real Estate Business

REGIS ROMERO:

Building an Industry Building a Nation

Published by

24.10.2010 24 10 2010 16:03:52 12 16 28

| REAL ESTATE WORLD 4 |4REAL ESTATE WORLD

5 | REAL ESTATE WORLD 5 | REAL ESTATE WORLD

Bisnar details that developer Ayala Land, Inc. worked with environmental experts and followed established guidelines in water conservation and re-use, features energy-efficient cooling system, green roofs, doublepiping water system, water-saving indigenous faura and fauna and green homes. To preserve and enhance the natural environment, its Wildlife and Bird Sanctuary, home to 76 faunal species, was developed with Haribon Foundation. Building designs are benchmarked against the U.S. Green Building Council Leadership in Energy and Environmental Design standards. Nuvali also has a four-hectare multi-functional lake at the entrance, with trees lining the walkways and bike lanes that link the residential and business communities. Other transportation systems, such as water taxi and boat docks are also available. Biking, hiking, fish feeding and shopping are some of the family activities here, Bisnar mentions. Nuvali constitutes an anti-thesis of many of the country's growth centers, where tradeoffs between family and work and industrial progress and environmental sustainability are rendered inevitable, he adds.

G REENBELT Malls lead in

award-winning style, innovation and sustainability

Health, Retirement & Green trends Contents

“It bal ling mo pro brin mu and tivit

Evo

From six -Gre a 1 -Gre

cen

From -Gre ICSC -Gre ICSC Gree 2010, -Bra 2009, -Bra Comm

22 Fulfilling the Filipino's basic needs 26 Ara Vista Village Where reality is better than dreams 30hen theChristine and Ara idea of an Reyes indoor, outdoor mallVista Village “The Make Complementary Match concept was first conceived and implethree no mented, many doubted its viability and cha 32because ealth, Guides House Investment of the tocountry’s long rainy retirement and green opportunities in real dent. “ But eight years after Philippines Greenbelt 2 can help fill up Greenb projects in the 34season. estate Niche Marketing Strategy helps the Sustain perceived glut in inventories and 3 were constructed, developer Ayala Land, Inc., has and serve as These Competitive Advantage been proven correct, as international approached the attractions forbrands investors and retirees. award w mall management to get space to sell from. 36 Terrible, Social developer theConstrucdignity The gro Nelson president of thepromotes Techno-Asia “We have always triedDevelopment toof address needs our custompoortheFilipinos tion and Inc.,ofsays a lot of Filipino immi- Prada, T ers,” says Rowena Manhit-Tomeldan, Vice President and and Europe- in (year) grants plan to retire here. Even Americans Chief Operating Officer of the Ayala Malls Group. “At the time 38 Providing better homes lives saw the ans are considering the Philippines for as abetter less costly that Greenbelt Square started, the office force within Makati option to live in, asCreba property costs here do not depreci- the visio 41 2010 Officers & Directors needed dining facilities. Thus came La Tasca, Max’s, Tony Green ate significantly. Roma’s, Larry’s Bar, Josephine’s and Schwarzwalder, even opment What is CREBA? “The42problem is how to dispose of the current huge of prime United Supermarket which offered food kiosks.” But other inventories. than these well-known restaurants, the market? other Can we sustain the Private and fad in a 44 Nuvali: Promoting athemodel sustainable section called Greenbelt Arcade also housed governmentcommunity sectors should work first together to attract Fernand Lacoste, Max Mara, Ferragamo, Ralph Lauren shops, among foreigners especially in medical tourism where we can easily a others. The mall was then starting to evolve into an important 48 ECO-Friendly capitalize on our very good nurses, very compassionate of malli

shaping real estate direction

116 W

lifestyle center back then, notes Tomelden. It was at that time and workers,” he says. that most of caregivers these buildings hadhospital to go to give way to Greenbelts 2 and 3.

evolved “We n fashioni office

internationally, Budji Layug with his partner Architect Royal Pineda have produced avant garde creations that highlight what is essential, organic, tropical, and modern – a trademark from their vast global exposure and passion onsider: for P800,000.00, buyersare can have a fully-finished to create things C that distinctively two-storey 52-square meter house contemporary white and modern and convenientlyindesign, Pinoy. with a detachable dry wall Perez also equates quality to “It is byforunderstanding yoursustainable flexibility; balcony overlooking living, where concern landscaped gardens and higher for the environment influences a experiences that you ceilings.get inspiration and person’s lifestyle. At Paseo Verde, he But this is just as far as the structure made sure that residents would have find solutions in andcreating gardea venue and opportunities to practice aesthetics go.avant The residents occupying a total of 75 units at “green”. designs,” notes Pineda. “We the 500-square meternot Paseofollow Verde “First, the location is very near Homes in Sta. Maria, Bulacan are also trends; we set standards that eventuallythe transportation routes. Residents the first to live in the pioneering lowdon’t use their cars anymore to go maintenance, eco-community in this become trends because they have beento their work places. Then, you area. Thanks to the vision and passion have a house design that needs MegaManila Communities, Inc. proven to work ofPresident and make our clients Roman Perez, more people lesser materials without sacrificing can now own decent houses that give quality and durability. Further, we feel good,” says Pineda. use eco-friendly paint that absorbs better value for their money. nitrous oxide from transportation and Pineda adds that standards should “I get offended and disturbed to planted 40 trees to facilitate oxygen see people living in houses that are introduction and carbon dioxide not be static but should respond to what half-finished and yet so expensive. It reduction in the area. The houses are is like robbing them of hard-earned gutterless to prevent the accumulation is happening around us. One major money. These scenes moved me to of pockets of stagnant water. Instead, a real estate which development haspursue been thebusiness growing water goes straight to ground soil.” interest started when I was 16. I told The 27-year old developer looks that I will build houses that awareness of the myself people about climate will help create quality lives for their positively at industry prospects, with residents,” he notes, adding that these four more developments coming, in change and the environment. wrong investment decisions can be addition to those in Cavite and San

Providing better homes for better lives

caused by lack of information and

Jose Del Monte. Paseo Verde has

“Demand will never be saturated, mainly because of the growing Philippine population. However, our five-year target has been reduced to 500 units from 1,000.” He explains: “One big issue is inadequate financing from banks. We are thankful that the Pag-ibig fund is there to fill the gap. Fortunately, Pagibig has also proven the banks’ wrong assumption that its borrowers are not credit-worthy. Repayment is in fact 90 percent.” Another challenge, he adds, is “the lack of viable lands on which to build these houses. When you find one, the costs are unreasonably high. The Ondoy incident was also a reminder to be careful with buying properties. This prompted our extra effort to make sure we have a very good drainage system in our projects.” All these guidelines are part of Perez’s objective to brand his properties. “It will enable us to go borderless if our good reputation precedes us wherever we go.” - LCL

But while going green is the trend,been sold out. education. Pineda says that theirs is an organic design that remains distinctively and suitably Filipino. REBAP Chairman Julius Topacio REBAP President Emily Duterte

A product and from a family of academes, Philippine licensed Architect to maximize intended ambience feel offorScience the place,” says Pineda. Royal Christopherthe Lopez Pineda completed hisand Bachelor in Architecture

at Polytechnic University of the Philippines under the Japan-Philippines group of licensed real estateprogram. brokers He bonded cooperation university mentions acquired his designers professionalin training and Layug likewise that while many the country are from years 1997 a to 2002 under the obfirm of the Philippine’s National Artist together in exposure 1979 toonly pursue common talented, few are “Many of toour designers have limited for Architecture Leandro V. really Locsin, good. Partners. Exposed designing challenging and edifice structures commissioned to the firm, Arch.ideas Royalon Pineda gotto to acquire jective of professionalizing the estate international exposure andreal thus limited how differentiate and learn the trade of the professional practice of the industry, both the structure of themselves establish their identity,” its Science and and itslevel Arts. industry and raise the of ethical stand- he says. ards of licensed real estatePineda practitioners. Thus, theinternational Real Honed and developed in design standards and points out that Filipino interior designers who are exposed professionalism and given the opportunities to be involved in his previous firm’s Estate Brokers Association of theunder Philippines, Inc. of(REmajor projects the administration Locsin’s partner to different design techniques are moremanaging adoptive to and newhis design mentor Arch. Edgardo Ledesma. Arch. Royal Pineda comprehensively worked and methodologies and thus do not fall prey to being copy cats. - RJA BAP) was born. collaborated with his counselor and colleagues during his whole post in the company. He took pleasure being in the furnace of his career foundation during To fill the specific needs of investors, buyers and sellthese early years. ers of real estate, REBAP instituted a class of expert real In his pursuit and vision on contributing his design approach and his own principles in architecture, decided Brokers to merge with one of the Philippine’s best estate professionals called Certified RealheEstate creative minds, interior and furniture designer, Budji Layug. (CRBs) who are experts in listing, negotiating, selling, As a major progressive career step, Arch. Royal Pineda believes that it investments, taxes andwas other related matters, also real time toestate create and bring his practice of the profession to a new and different dimension, to live and be able to do and perform the real essence of being ready to serve the community they circulate in. is an architect… to design, to innovate andEach to evolve. a part of a larger network of real estate professionals. Now, as the architect and the managing partner at Budji Layug + Royal Pineda Design non-sectarian Architects. He is putting intonon-poreality his visions of creating modern and A non-stock, non-profit, and tropical creations that can truly carry the soul of the evolving Filipino designs, makinghas it tropical andto yetover a global architecture. litical corporation, REBAP grown 1,500 reg- He is creating spaces and environments that addresses the present issues and solving them with the most ular and associate members 21 solutions. chapters nationwide. basic andin logical Making his architecture modern, monastic and tropical in style. Architect Pineda and his partnership with Budji Layug created a fortified “We are in a very vibrant promising stagetheinfirms our synergy and that reinforces and revitalizes design dynamism. The continuous collaboration of both partners have defined and established the industry because of years all ofthe developments in it the company’s integrity and approach, making one of the most prominent proponents

38 Young Real Estate Developer Mr. Ramon Perez

53 Real Estate as a Passion 56 Beauty and function in modern architectural designs 58 3xs define SMX as the events venue 62 Professionalization of brokers tops REBAP agenda 66 Don't Miss the Big Opportunity 67 Risk comes not knowing what you're doing 72 10 Gems to Grow Real Estate Business 76 Going Green makes Good Business sense 80 Health, Retirement & Green trends 82 New luxury hometown community opens in Pampanga 84 Sky Experience Adventure is latest Cebu Attraction 88 Building an Industry, Building a Nation 92 Successful resort owner is a drop-out turned self-made man 94 Binay ares roadmap to successful socialized housing program 106 Almost invisible mirrored tree house built in Sweden 114 15th NREA-HUDCC National Housing Convention and Exhibits 116 Greenbelt Malls lead in award-winning style innovation and sustainability 118 EEI: no less than world-class construction service 120 RESA LAW implementation starts 122 The Philippine Reit 126 Grand Monacco Homes 132 Diploma in Real Estate Management: Setting the Benchmark for the Industry

of Modern Tropical Design in the country and in Asia. Architect Pineda is disciplined to envision and create total design which the company is also known for. From master planning, architecture, interior design, furniture design and landscape design. With the present company Budji Layug + Royal Pineda Design Architects, he already have designed different projects in major cities like Beijing, Hong Kong, Singapore, India, Malaysia, Indonesia Australia, United states of America, France, Germany, and Thailand,

ith t prop affo

CEODEVCO W.H. Taft R and the Somer others. To survive expenses that reasonable rate projects are de would only req

140

“I look at that the big players

Apart from l

134 Demystifying Real Estate Mortgage incorporates ne in construction 136 300th of Devotion to Our Lady of As part of the g Peñafrancia 2010 Metro Manila Festivities outlet vents at t 138 Shanghai World Expo 2010: A Showcaseair in and out o of Architectural Marvels “Also, we ar 140 Budji, Royal equals Distinctively and construction t Conveniently Filipino steel frames. available, allowing faster project completion and saving on labor 142 Philippines Real Estate Market Overview 146 2010-2011 Officers & Trustees FIABCI- of real estat Yu’s company is likewise into marketing PHILIPPINES leasing, real estate consultancy and management, packing of planningFlavored and feasibility studies for estate. CEODEVC 150 Making Chocolates thereal Filipno properties with problems. way “Normally, a real estate broker doesn’t do research work 156 CREBA Homes on stilts launched of a certain property. Owners are supposed to attend to this.

how to handle this and would need experts in this area. T details. - LG

DANIEL R. DELA CRUZ PUBLISHER

BING LAU ASSOCIATE PUBLISHER

MA. FLORDELIZA C. LEONG EDITOR-IN-CHIEF

EMMARITA Z. MIJARES MANAGING EDITOR

DANILOVA MOLINTAS EDITORIAL CONSULTANT

ROBERT BILLO ART DIRECTOR

RITCHELLE J. ALBURO, LESLIE V. GATPOLINTAN, GRACE T. MIRASOL CORRESPONDENTS

ATTY. MAY ANN R. ROSALES, ATTY. SONNY PULGAR, RENNE ISIDRO COLUMNIST

RITA PALMA, MABELLENE REYNALDO, BERNICE ROSS TECHIE BAUTISTA, LINDSAY ORR CONTRIBUTING WRITERS

EMIL A. MIJARES CHIEF PHOTOGRAPHER

CRISALDO BALUCANAG, DANIEL RAMOS PHOTOGRAPHER

ELSA DELA PAZ-VALENZUELA, ANN HAZEL JAVIER Marketing Directors CHERRY TAN, ELDIE ARUBANG, MARK ALVIN MANGUNE LAYOUT ARTIST

DINAH B. DIMATULAC, KATHLEEN D. REANO, MAFE GOBRIN, DIANNE D.V. MASALUNGA, GLENDA B. NILLAMA, MERCEDES R. SAMSON SENIOR ACCOUNT MANAGERS

GUILLER RAMOS

CIRCULATION OFFICER

DANIEL R. DELA CRUZ PRESIDENT & CEO

ROWENA DELA CRUZ VP-Finance & Operations

RANIEL SANTOS VP-International

RENNE ISIDRO VP-Sales & Marketing

EMILIE NAGANO BUSINESS MANAGER

ATTY. SONNY E. PULGAR LEGAL COUNSEL

Editorial and Marketing Office at: 100 Perea Street, Sunrise Bldg. Legazpi Village, Makati City Philippines 1229 Telephone No.: (632) 828 3333 Fax No.: (632) 840 3292 Mobile: +63 919-8504468 Email: info@mediacentral.com.ph Real Estate World is published quarterly by Media Central Inc. Opinions expressed in its pages are solely those of the writers and are not necessarily endorsed by Media Central Inc. We welcome unsolicited manuscripts and photographs. We prefer to receive soft copies, by email. If you send these by post kindly accompany these with a self- addressed stamped envelope if they are to be returned. While reasonable care will be taken by the editors, no responsibility is assumed for the said materials. Copyright © 2008 Media Central, Inc. All right Reserved.

Other Publications by Media Central Inc

3 | REAL ESTATE WORLD

Publisher's Note

Industry Vision

Editor’s Note

Towards a more caring and progressive community

The P-Noy administration has ushered in a renewed and more optimistic environment in the country. The problems remain, but with P-Noy serving as the tie that binds us together, we believe that things who should care do not care. With a government that can only get better. is all gung ho on good governance, we are given many opportunities to do our share. Delivering public Other than the President, we are also hopeful that goods – education, health and housing – are his Cabinet members will be critical factors to achiev- programs government and private sector can do ing that elusive development and progress we have together. been dreaming for our country. In a recent CEO forum, economist Dr. Bernardo Villegas mentioned six of We need not re-invent mechanisms how to help. them, on whose hands depends the bullish eco- Gawad Kalinga, featured also in this issue, led the way nomic projections that Dr. Villagas is confident we can concretely some 15 years ago. They need more achieve. volunteers to ensure that its vision towards a povertyand homeless-free Philippines is possible. Atty. Alex DTI Secretary Gregory Domingo has identified real Lacson, author of the bestselling book "12 Little Things estate, particularly the housing sector, as one of the Every Filipino Can Do To Help the Country”, offers winners that can make this dream happen. In the more do-it-yourself solutions. industry, we confirm this optimism. We can provide millions of jobs to both skilled and unskilled. By the In all these efforts, we take extra care not to further end of 2010, OFW remittances, which have been abuse the natural environment from which we generpartly fueling the real estate boom, are seen to grow to ate our raw materials and other resources. A special an unprecedented $90 billion. Imagine the invest- eco-section in this issue details some best practices ments and consumer spending that this resource can as models. Again, the extra hand can come from bring into the economy! simple acts like avoiding littering, switching off extra lights and doing waste segregation. Vice President Jejomar Binay, who thankfully agreed to grace our cover, is likewise pushing for more Its about time an inclusive growth happens, and pro-poor developments to help address the growing soon. The stakes are huge: our children and granddivide with the rich. Private sector, business and civil children stand to benefit. society are likewise called to put in their share to help our government that is beset with a huge budget deficit, among other major challenges Former Prime Minister of Singapore Lee Kwan Yew said it very well: Things go wrong because people

Ma. Flordeliza C. Leong Editor-in-chief

Ambassador Amable R. Aguiluz V Ambassador Amable R. Aguiluz V

Fulfilling the Filipinos’ basic needs

he acronym AMA is synonymous to IT education in the country, being the pioneer in the field. With 200 schools in the Philippines and eight overseas, the AMA Education System continues to venture into other innovative ventures after leading in the e-learning system.

“Our standards are based on at least a five-star orientation to ensure that we give our clients only the best. There are many players in the industry but I believe we have established our mark even in relatively just a short time”

Setting its sights on another basic Filipino need, Ambassador Amable R. Aguiluz V founded Picar Development, Inc. and AMA Communities Incorporated, two real estate subsidiaries of the AMA Group of Companies. Picar Development, Inc focuses on residential condominiums; whereas, AMA Communities aims to serve the housing needs of mid-income Filipinos. Combined total land holdings of both subsidiaries is worth about $1 billion of prime commercial and residential tracts in various stages of development, including a five-star hotel, offices, retail buildings, residential condominiums as well as master-planned residential communities on 51.7 hectares. Constantly striving for quality and excellence, properties being developed are aesthetically conceptualized with beautiful landscaping and based on modern contemporary lifestyle. These details are manifested in all on-going projects of Picar (Stratford Residences and AMA Tower) and AMACOMM (Aravista Village). “Our concept is to build not just houses which is easy and is part of our core competence. More importantly, we aim to develop communities where people and families can live, work, study, pray, play and dine in a park-life atmosphere,” notes Aguiluz.

Actual Photos of Houses

to help ensure are done “We“We alsoalso wantwant to help ensure that that thesethese are done in a in a self-sustaining fashion through world-class ecoself-sustaining fashion through the the world-class andand ecofriendly facilities infrastructurethat that permanent friendly facilities andand infrastructure areare permanent features of these communities.” features of these communities.” Communities Incorporated is strongly assisted AMAAMA Communities Incorporated. is strongly assisted a group of well-known professionals in the field by abygroup of well-known professionals in the field ledled by by Architect Urban Master Planner Felino Parafox who Architect andand Urban Master Planner Felino Parafox who work company on this objective. It recently won work withwith the the company on this objective. It recently won design citation from an architectural awardthe the top top thirdthird design citation from an architectural awardgiving body in Asia. giving body in Asia. Also as part of its strategic plans, AMA Communities Also as part of its strategic plans, AMA Communities Inc. invests on land banking to facilitate construction later. Inc. invests on land banking to facilitate construction later. Aguiluz points that at the rate the industry is progressing, Aguiluz points that at the rate the industry is progressing, there is no other way but “up, up, up”, signalling a boom there is no other way but “up, up, up”, signalling a boom that augurs well for the many who are employed in the thatindustry. augurs well for the many who are employed in the industry. Appointed as the Special Envoy to the Gulf Cooperation Appointed as the Special Envoy to the Gulf Cooperation Council (GCC), Aguiluz has likewise seriously and intensely Council (GCC), Aguiluz has likewise seriously and promoted the country as an investment haven. He has intensely promoted the country as an investment haven. also facilitated grants and calamity donations from his host Heregion, has also facilitated grants and OFWs calamity donations home to about two million who are partly fuelling the country’s booming real estate from his host region, home to about two million OFWs industry. who are partly fuelling the country’s booming real estate industry. Incidentally, all expenses for his official functions are shouldered by the AMA Education System, Incidentally, all expenses forresponsibility his official functions by scholarships the AMA Education System, as part of its corporate social program are thatshouldered also includes for deserving but as underprivileged part of its corporate social responsibility program that also includes scholarships for deserving students, he relates. but underprivileged students, he relates. “Our success mainly lies on our people who are able to internalize our vision and mission,” says “Our success lies by on example, our people who are our vision Aguiluz. “I alsomainly try to lead coming to able worktoasinternalize early as 7 a.m. so that and our mission,” employeessays will Aguiluz. “I also to lead by coming to work as early as We 7 a.m. so thatpromote our employees will also follow suit,try believing thatexample, there is no substitute for hard work. likewise the virtue of also follow suit, believing that there is no substitute for hard work. We likewise promote the virtue of honesty which I try to instil on all our employees. Honesty still remains to be the best policy.” - LCL honesty which I try to instil on all our employees. Honesty still remains to be the best policy.” - LCL

24 | Real Estate World

his is going to be a first: a 50-hectare Wi-Fi ready community where connectivity is available not only in common service facilities but also in open spaces and the individual housing units. This is no surprise, since developer AMA Communities, Inc. (AMACOMM) traces its roots from the AMA Education System, the pioneer in the IT education field. And this is just one of the many major features that will attract many Filipino families to live at Ara Vista Village - a master-planned mixed-use community sprawling on a 50-hectare lot. This premiere development of AMA Communities Inc., (AMACOMM), the real estate subsidiary of the AMA Group of Companies, is envisioned to be a self-contained and complete community. AMACOMM aims to deliver the best in affordable housing with the Filipino families in mind. Ara Vista Village is strategically located along Amadeo Road in General Trias, Cavite: a 30-minute drive to the second summer capital of the Philippines, Tagaytay City. Its climate is accordingly tagged as the “cooler side of Cavite ”. It is around 60 to 90 minutes drive from Makati Commercial Business District, accessible via South Expressway to Aguinaldo Highway to Governor's Drive and approximately ten minutes away from SM City and Robinsons Mall Dasmariñas and near notable developments in the area like Waltermart, Philippine Christian University Cavite, De La Salle Medical School, Lyceum of the Philippines, Cavite Export Processing Zone, First Cavite Industrial Estate, and Gateway Business Park (Silicon Valley). Ara Vista Village is classified into two areas: 32-hectares for residential and mixed-use development, while another 18 hectares for institutional and commercial establishments. The property is designed to reinvent General Trias with its innovative and one-of-a kind master planned development, a ten-hectare PEZA-accredited IT Park and a three-hectare I.T. based school.

26 | Real Estate World

Ara Vista Village also features complete amenities for health and well-being; sports and recreation; relaxation and entertainment. The Christ the King Church, complete with a separate baptistery room and adoration chapel, will rise on 3,724-square meter lot. 27 | Real Estate World

Clients can choose from two housing classifications: the Classic, which is intended for start-up families, consists of Georgian style houses on 56 to 82 square meter floor area that costs from P1.9 million to P2.9 million; and the Premier models, which aims to provide bigger floor area for growing families, has a price range of P2.9 million to P3.5 million for a 95 to 108-square meter house area. Ma. Rita D. Palma, marketing head of the AMACOMM, believes that the company’s edge comes from a very solid background established with credibility and reliability and in providing every family what each has always hoped for become a reality in a community – safe, comfortable and convenient. “We want choices for our clients in terms of design and structure,” says Mark A. Lamsen, Chief Operating Officer of AMACOMM. “This is why we went out of our way to give them a wide variety of styles as possible.” There are already eight model houses available at the project site. Palma adds: “AMACOMM is not only an emerging developer in the real estate industry, but is part of the value-added service that the AMA Education System is known for. In the same way that its Chairman, Ambassador Amable R. Aguiluz V, has succeeded in the academic field, we are positive that AMACOMM will likewise mirror the same if not exceed AMA Education’s brand of excellence.” - LCL

28 | Real Estate World

“This is why we went out of our way to give them a wide variety of styles as possible.” “Foremost in the minds of AMA Communities management is Ara Vista’s future homeowners, such that the property is designed so that every resident will look forward coming home after a day’s work,” says Palma. “The wide and landscaped main gate is the entry mark to its park-life atmosphere. Acacia and fire trees alternately adorn the whole stretch of the main road, giving a relaxing feeling.”

Mark A. Lamsen, Chief Operating Officer of AMACOMM.

29 | Real Estate World

Christine Reyes and Ara Vista Village Make a Complementary Match

What do actress Christine Reyes and Ara Vista Village have in common?

here are at least three things. First, Reyes loves nature, even as the Village boasts of a scenic garden that serves as a focal point of the development. Second, Reyes is fond of biking, something which she can indulge in at Ara Vista which features bike lanes. Third, during leisure times, Reyes can spend 24 hours on the computer, updating photos, keeping in touch with friends and relatives and watching movies, a hobby which she can sustain at the wi-fi enabled Village. Finally, her love of family fits well with the design, features and principles behind the project. Reyes also finds the Village location, which is 30 minutes away from Tagaytay, another important reason to invest in the project, with her fondness to drive South, specifically to Tagaytay, when going out with friends. “From my mother, I have valued the wisdom of investing in house and lots because this is something that one can physically hold on to and appreciates in value,” she shares. A good part of her income from her acting career was in fact spent on two houses in Quezon City: one for her and another for her mother. The complementation between Reyes and the Village came as a surprise to both the star and the Ara Vista management who knew of this “match” only during the night of the contract signing of Reyes as project endorser.

“It was a pleasant surprise to find out that the project I am endorsing is something that personally suits my preferences and character,” she says, “as my manager kept the details of the contract a secret until this last minute.” Of the many areas in her house, she favors spending time at the rooftop with friends, while she cuddles with five nieces and nephews either in her bedroom or in the entertainment room as they watch their favorite cartoon shows. But there are perhaps very few who know that Reyes took a crash course in a culinary school at the Global City. One result is a special Italian style spaghetti recipe which her friends love. As for herself, she goes for sinigang na baboy (pork in tamarind soup) with rice anytime, or at least when she feels she can take in more weight. The match between Reyes and Ara Vista Village maybe a coincidence, but it is proving to be a happy marriage of two beautiful creations. - LCL 30 | Real Estate World

NARdiGras2010 NOVEMBER 55-88 N E W O R L E A N S NOVEMBER

The countdown to the 2010 2010 REALTORS REALTORS Expo is is on! on! Conference & Expo

®®

real estate’s estate’s largest largest trade trade • Shop real for the the newest newest tech tech tools, tools, show for mobile apps apps and and more more mobile Let Regis Regis Philbin, Philbin, the the energetic energetic • Let host of of “Live “Live with with Regis Regis and and Kelly,” Kelly,” host make you you laugh laugh out out loud loud make

Learnfrom fromover over125 125industry industryexperts, experts, ••Learn includingMike MikeAubrey, Aubrey,host hostof of including HGTV’s“Real “RealEstate EstateIntervention” Intervention” HGTV’s Networkwith with20,000 20,000contacts contacts •• Network fromacross acrossthe thecountry countryand and from aroundthe theworld world around Celebratewith withfamily familyand andfriends— friends— ••Celebrate they’llget getfour fourFun FunBucks Bucksto touse use they’ll ontours toursand andattractions attractionswith withtheir their on fullconference conferenceguest guestpass pass full

NEW NEW IN IN 2010! 2010!FREE FREESession Session Audio Audio Recordings Recordingswith with Full Full Conference ConferenceRegistration Registration Your Yourregistration registrationdollars dollarswill willget getyou youmore more than ever before. Thanks to sponsor Bank than ever before. Thanks to sponsor Bank of ofAmerica, America,full fullconference conferenceregistrants registrantscan can download a complete set of education session download a complete set of education session audio audiorecordings recordingsFREE FREEafter afterthe theconference. conference. Visit the website for more information. Visit the website for more information.

Guides to House Investment:

dynamic and competitive real estate industry has resulted to the mushrooming of developers nationwide, just as their varied projects attempt to respond to clientsâ&#x20AC;&#x2122; low- to high-cost requirements. But of the many developments, how can consumers maximize value for their money? Rita Palma, marketing manager of AMA Communities, Inc., a licensed customs broker since 1990, and owner of Megasphere Realty early in her career, gives the following tips: On Buying a House: Location The old adage about location is still true. It is vital that a buyer should consider the location of the property and its proximity to his place of work, school for the children, leisure spots, Church, market, and hospital, especially if a senior citizen lives with the family. Consider also the transportation cost. 2.) Reputation of the builder/developer Not all prospective buyers will purchase their first home from the second market. Most of them are attracted to preselling projects that offer flexible payment schemes. But bear in mind that flexibility in payment terms doesn't guarantee that one gets a good buy. At the end of the day, a good buy means a well-constructed and good quality house. In this respect, the credibility of the developer matters a lot. Buyers should also do their research, as agents will always give their products the best rating. One good measure is to ask for a copy of the developer's license to sell for that particular project where you are interested in. 3.) Amenities or Future lifestyle Ask yourself how your life would be once you are already residing in the soon-to-be dream house of yours. Is a clubhouse where the family can spend leisure activities and play important? How about security and safety concerns? Does living in a commercial area attract you? 4.) House layout Check the layout of the house. Do you have room for expansion? How about the sizes of the rooms? Normally a two-storey house has one toilet and bath. Now, if you are more particular to convenience, check the possibility of having a separate toilet and bath per level. Others offer one bedroom at the ground level which can be converted to either a nursery room, den or an elderly bedroom. 5.) Payment terms It is a must to be aware of and live within his cash flow. It is not sensible to purchase a new home and feel miserable because of huge debts. Note that the higher the downpayment, the lower the balance and therefore the more manageable the monthly payments would be. Consider interest rate and other discounts should you opt to have balloon payments every so often. 1.)

If purchase is made through the secondary market and through a developer, bear in mind the following: 1.) Secure a certified true copy of the title with the Registry of Deeds. Check if there are liens attached to it. 2.) As much as possible, avoid dealing with people with Special Power of attorney or SPA, a written and notarized document that empowers one party to deal with another. This is normally used in selling a property where the owner is not or cannot be physically available to close a deal. It is still best to transact business with the owners themselves. If need to, hire a lawyer to assist you. 3.) Bring along a trusted architect or engineer whenever possible to check the structural and other technical aspects of the house. An untrained eye can't see beyond the interior. Otherwise, problems that are detected prior to the purchase may unnecessarily add to the total cost or worse, be irreparable. 4.) Any and all contracts must be reviewed by a lawyer prior to signing. Payment in the form of manager's check is better than cash and personal check. 5.) Assistance and guidance of a seasoned and licensed real estate broker/ realtor will surely come a long way. Realtors can do the negotiation and facilitate research if needed. 6.) Last but not the least, do not decide in haste. Scout around and check what other products are available in the market. 32 | Real Estate World

To Buy or to Rent? There are several factors to be considered whenever you need to decide on buying or renting a house: Cash out: in renting, a relatively small amount of cash out is needed. The only concern is deposit and†the monthly rental payment. Whereas buying entails bigger funds: downpayment, property tax, association due and home insurance (if applicable). Equity: renting does not need any†equity. Advantages: Rent offers better flexibility if the lessee has plans to transfer or move in the near future. Further, monthly rental payment is definitely a lot less compared to the total cost of ownership. And because renting saves money, the money can then be invested into other higher-yielding investments. Meanwhile, of satisfaction and for most Filipinos being equated to being appreciates in the long relatively the better

buying provides a sense fulfillment, especially where owning a home is successful. Property also run and can be considered investment instrument.

Disadvantag es: build-up. All cash drain. In addition, is limited, knowing owned. Worse of all, annually.

renting has no equity out is money down the property improvement that the property is not rents normally increase

More risk is involved in buying a property, most especially that it requires higher†equity.†Once a wrong decision has been made pertaining to a house purchase, it is not easy to resell or even rent out the property. Target market: Rental is advisable for those who plan to migrate or move out in the future. If one does not have the required equity, consider investing in financial papers which also gives a good return on investment. On the other hand, buying is advisable for those who have been renting for quite awhile and would like to settle down permanently, that is, if he can afford the mortgage payment and has the required equity.

33 | Real Estate World

Niche Marketing Strategy helps Sustain Competitive Advantage

iding on the optimism of key industry players in real estate, CEODEVCORP is aggressively pursuing more property projects which have found niche markets.

Eugene Yu, president of the Capital Estate Organization Development Corp. (CEODEVCORP), believes that construction activities may continue for the next two to three years. “It is obvious that around Metro Manila and even in the provinces, developments are going on tremendously. Developers are putting multi-billion peso worth of investments. If the market would be not good, I don’t think they will be there doing all sorts of developments,” he says.

ith this, Yu said they will continue implementing property projects having niche markets, with affordability and good locations as the main focus.

CEODEVCORP. handles the development of the 31-storey W.H. Taft Residences condominium at Taft Avenue, Manila and the Somerset Place at Manggahan, Pasig City, among others. To survive competition, Yu maintains low overhead expenses that enable him to bring unit prices at a very reasonable rate and incur reasonable profit. His condominium projects are designed for people always on the go and thus, would only require small-space units offered at reduced prices. “I look at that as our company’s competitive edge against the big players,” he stresses. Apart from location and price considerations, Yu also incorporates new trends in design and construction technologies in construction. As part of the green revolution, his company intends to create outlet vents at the top of the doors to ensure continuous flow of air in and out of the units and the building itself.

“Also, we are getting a lot of proposals to shorten construction time and on the use of new technologies like steel frames. Materials, like the stackable lego toys, are available, allowing faster project completion and saving on labor cost,” he bares.

Yu’s company is likewise into marketing of real estate projects, general brokerage, property leasing, real estate consultancy and management, packing of projects for mass housing and conceptual planning and feasibility studies for real estate. CEODEVCORP is also engaged in investigation of properties with problems. “Normally, a real estate broker doesn’t do research work or come out with proper documentation of a certain property. Owners are supposed to attend to this. Unfortunately, most owners do not know how to handle this and would need experts in this area. That’s where my company comes in,” he details. - LG 34 | Real Estate World

Social developer promotes the dignity of poor Filipinos G

awad Kalinga (GK) 2024 hopes to develop a total of 48,000 self-sustaining communities, with one located in each barangay, and help at least five million poorest-of-the-poor families out of landlessness and hunger. This is GK’s roadmap towards a First World Philippines. How can a non-profit, 300-strong organization fulfill this dream? GK Chairman, Founder and moving spirit, Antonio Meloto, stresses that GK has been working with 200,000 partners, and counting. Among these are professionals, multinational corporations, government agencies, OFWs and even ordinary Filipino volunteers who share the GK’s vision of “building a nation ... made up of caring and sharing communities, dedicated to eradicate poverty and restore human dignity.” Meloto is also working on a bill to help facilitate this 2024 vision. From about P40,000.00 per house when the Gawad Kalinga Community Development Foundation, Inc. started in 1995, each brightly-painted, two-storey, two-bedroom structure is now worth about P80,000.00 with much improved materials to help ensure that the house can withstand disasters. These brightly-painted structures are built with sweat equity from community residents and volunteers, while the lot either comes from government or donated by private individuals and corporations. 36 | Real Estate World

The property size varies per location and number of beneficiaries. Each community has common facilities such as multi-purpose centers, school buildings, and clinics. The residents are taught values formation, livelihood opportunities, health promotion and creative activities. Each community has common facilities such as multi-purpose centers, school buildings, and clinics. The residents are taught values formation, livelihood opportunities, health promotion and creative activities.

ow in almost 2,000 communities in the Philippines and in other developing countries such as Indonesia, Cambodia and Papua New Guinea, GK has become a concrete manifestation of the healing of relationships in the Philippines and the spirit of bayanihan, the willing sharing of any heavy load for the good of his fellowmen, Meloto notes.

“Driven by a strong commitment to faith, GK is able to make a Filipino a hero in his country that can contribute to bagong bahay, bagong buhay, bagong bayan (new home, new life, new country),” he notes. “At a time when many are leaving the country for greener pastures abroad, GK sparks hope in the Filipino dream – to restore this great nation and once again be proud to be Filipino.”

K’s success has proven that there is enough land and other resources to share, Meloto stresses. GK has changed and transformed the landscape of the Philippines, and no longer just the Payatas and Abu Sayyaf that people once associate with the country. “No Filipino should be a squatter in his own country. We just have to provide and open the environment for sharing and caring. I am positive that the P-Noy administration will continue, if not complete the vision we started during President Cory Aquino’s time,” says Meloto. - LCL 37 | Real Estate World

onsider: for P800,000.00, buyers can have a fully-finished two-storey 52-square meter house in contemporary white and modern design, with a detachable dry wall for flexibility; balcony overlooking landscaped gardens and higher ceilings. But this is just as far as the structure and aesthetics go. The residents occupying a total of 75 units at the 500-square meter Paseo Verde Homes in Sta. Maria, Bulacan are also the first to live in the pioneering lowmaintenance, eco-community in this area. Thanks to the vision and passion of MegaManila Communities, Inc. President Roman Perez, more people can now own decent houses that give better value for their money. “I get offended and disturbed to see people living in houses that are half-finished and yet so expensive. It is like robbing them of hard-earned money. These scenes moved me to pursue a real estate business which interest started when I was 16. I told myself that I will build houses that will help create quality lives for their residents,” he notes, adding that these wrong investment decisions can be caused by lack of information and education.

38 | Real Estate World

Providing better homes for better lives Perez also equates quality to sustainable living, where concern for the environment influences a person’s lifestyle. At Paseo Verde, he made sure that residents would have a venue and opportunities to practice “green”.

“First, the location is very near the transportation routes. Residents don’t use their cars anymore to go to their work places. Then, you have a house design that needs lesser materials without sacrificing quality and durability. Further, we use eco-friendly paint that absorbs nitrous oxide from transportation and planted 40 trees to facilitate oxygen introduction and carbon dioxide reduction in the area. The houses are gutterless to prevent the accumulation of pockets of stagnant water. Instead, water goes straight to ground soil.” The 27-year old developer looks positively at industry prospects, with four more developments coming, in addition to those in Cavite and San Jose Del Monte. Paseo Verde has been sold out.

Young Real Estate Developer Mr. Roman Perez

39 | Real Estate World

42 | Real Estate World

43 | Real Estate World

he dream of developing a great nation can start from building great communities and sustainable growth centers. The 1,840-hectare mixed-use development in Sta. Rosa, Laguna called Nuvali fits the objective. Reflecting Ayala Landâ&#x20AC;&#x2122;s commitment to nation-building, this project adopts a threepronged approach to ensuring sustainability â&#x20AC;&#x201C; economic, social and environmental. SVP and General Manager Jun Bisnar points out that CALABARZON offers a good location, with its geologically stable terrain, charming natural environment and near world-class infrastructure. CALABARZON is likewise accessible to important gateways such as the Ninoy Aquino International Airport, Batangas City Port, Port of Manila, and the Makati Central Business District. Adhering to its sustainable concept, Nuvali has natural systems such as ravine parks to help control floods and soil erosion and adopts a low-intensity land use design with about 50 percent balance between open and building spaces. 44 | Real Estate World

Nuvali: Promoting a model sustainable community.

45 | Real Estate World

â&#x20AC;&#x153;It is a multi-functional growth center that strikes a balance between productivity and relaxation by nestling business and residential communities in a modern and rustically charming setting. We strive to promote a sustainable, healthy and modern living, bringing back the good old days when people felt much closer to nature, their family and the community and were virtually stress-free, while promoting productivity and efficiencyâ&#x20AC;?, says Bisnar. Nuvaliâ&#x20AC;&#x2122;s 46-hectare commercial hub, Lakeside Evozone, has recently been completed. An additional six billion pesos in the next five years will be spent on a 1,840-hectare eco-community and a commercial center. - RJA 47 | Real Estate World

!"#$%&'()$(*+#$ !"#$%&'()$(*+#$ ,&$-'*()$.$/0##1$ ,&$-'*()$.$/0##1$ 2&'3#$,2.,$,2#$ 2&'3#$,2.,$,2#$ 42*(*55*1#$ 42*(*55*1#$ 6*))(#78(.33$ 6*))(#78(.33$ 8.1$.99&0):;$ 8.1$.99&0):;$ 3.<3$=0.-#>&:$ 3.<3$=0.-#>&:$ .))*1/$,2.,$ .))*1/$,2.,$ ,2#0#$.0#$1'7 ,2#0#$.0#$1'7 6#0&'3$%.<3$,&$ 6#0&'3$%.<3$,&$ 6.+#$.$/0##1$ 6.+#$.$/0##1$ 2&'3#$.99&0)7 2&'3#$.99&0)7 .-(#? .-(#?

48 | Real Estate World

!"#$%&"'(')'"#'"*'"#$+','-$.'$+'/'0$"#$/12'$&. !"#$%&"'(')'"#'"*'"#$+','-$.'$+'/'0$"#$/12'$&.

!"#$%&'!()*+

49 | Real Estate World

green house is a â&#x20AC;&#x153;breathingâ&#x20AC;? building that self selfeco-sustains and serves as a vital part of the siteâ&#x20AC;&#x2122;s eco system. With this framework in mind, Architect Nestor Arabejo and his team designed and developed a green house that won for them the Ang Pinakamagandang Bahay sa Balat ng Lupa (APBBL) award. The award is a joint undertaking Architecof the University of the Philippines College of Architec ture and Lafarge Cement Services The house, built around the concept of sustainability, have bamboo screens and bamboo slat flooring, and rice straw kitchen and bathroom walls. Proper location and orientation of the house are crucial in making a budget green house, Arabejo points out. This allows one to save energy through passive solar collection methods without using pricey green technologies. This requires data from the Philippine Atmospheric, Geophysical and Astronomical Services Administration on the amount of rainfall, wind directions, weather patterns and length of the drought period in the site. For utmost natural daylight and ventilation, Arabejo details that the window openings must be placed on the south and north side. During the sweltering hot days, the north-facing windows provide natural ventilation as they completely diminish the passive solar collection that south-facing windows provide.

50 | Real Estate World

About 40 percent of the gross floor area of Arabejoâ&#x20AC;&#x2122;s eco-kubo is totally enclosed with walls, while 60 percent of the house has one or two walls that are open to provide natural daylight and ventilation. Further, the eco-kubo generates its own electricity, completely weaning itself off Manila Elecrtric Company supply. With a quarter portion of the roofing system angled perpendicular to the sun during equinox, maximum solar harvesting is facilitated. It also bears a rooftop rainwater collector system that is connected to the sink and laundry areas so the water used in washing clothes and dishes are drawn from said source. The gray water then goes to a septic tank where the effluent is treated and is directed to a fishpond that cultivates tilapias. Making the most of the natural resource, the eco-house adopts a dry composting toilet system to conserve water while producing dry organic fertilizer out of the fecal material using the wood ash from its wood-fired stove. RJA 51 | Real Estate World

My real estate career started with enthusiasm as my initial capital. It took sometime before I realized that I am able to gradually learn the ropes in this business as I got increasing exposure to property management 10 years ago in Malaysia. Such experience came from an opportunity to put up a buy and sell property business. Because it was successful, I took this as the break and signal I was waiting for. I had to re-think my options though when I went back to Philippines. Of course, the way the real estate business was evolving here is much different than what I was used to in Malaysia. I had to get acquainted with the industry, including its players, policies, challenges and opportunities. Year 2003. It was this prominent real estate company condo.com that gave me the break into the industry. With the companyâ&#x20AC;&#x2122;s President and sales team patiently guiding and assisting me, I was in no time able to manage talking and closing deals with clients on my own. My passion for real estate intensified as I get more and more involved in the industry. I immediately get excited upon knowing of new developments and projects.

Year 2008 was significant for me. This was when I formally put up my own Property Central Inc., a joint venture with condo.com, which is into brokerage and buy and sell of property, with office in Legaspi at the center of the Makati business district. Starting that business was very tough, but because I was determined and focused, I can now look back with pride of what I have accomplished so far. Year 2009 was memorable, as I was able to fulfill my vision to move to a separate and bigger office at Fort Bonifacio Global City.Through it all, I am thankful for the support of condo.com, which itself has grown and is now known as Brokerhouse, Inc. Both these firms thrive with a strong belief in the guidance of God through whom nothing is impossible.

53 | Real Estate World

Beauty and function in modern architectural designs Design trends have continued to evolve through time, but Architect Rogelio Villarosa merely follows simple rules to make architectural masterpieces. “We make sure that the house is enjoyable, comfortable and a safe place for the owner to stay. If it is a commercial establishment, the client should be able to translate his investments to profits. Otherwise, we will not get a second project. For developers, the project should be economical, practical and saleable,” Villarosa details. 56 | Real Estate World

illarosa, already half a century in the architectural design business, recalls that in the 1950’s, the global trend was to establish concrete buildings. Over the years, the direction moved to constructing more “functional architecture”. Today, design trends are influenced mainly by technology advancements and availability of materials. “From a plan, you evolve into whether the elevation or the look is traditional or trendy. The trendy ones have different looks, but the planning should still be functional,” he explains, citing the Palms Country Club and the Makati Sports Club among his projects which he considers traditional but very functional. Villarosa stresses that combining function and beauty in design is a challenge. “It is very easy to do crazy things if you don’t consider function,” he says. “Thus, we are pro-actively doing research on global trends to rationalize our designs without sacrificing function.” Reading relevant publications, books and comprehensive reports are also important for architects, just as travelling provides ideas

and insights on designs which one can share with clients. In search of trendy architectural designs, Villarosa frequently visits Shanghai, Las Vegas, Beijing, Hong Kong, Tokyo, Taiwan, Chicago, New York and recently European and Southeast Asian countries particularly Singapore and Kuala Lumpur in Malaysia. The R. Villarosa Architects Partner & Associates is now working on some 20 projects. “We have hotels, some houses, a hospital, a school in the pipeline. We don’t say no to any project no matter how small it is,” he bares. Among Villarosa’s flagship projects include the Edsa Shangri-La, the Tektite Towers and the 25-hectare Philippine Stock Exchange Center in Ortigas, so far still known as the biggest office block in the country. On the condominium development, he considers The Gramercy Residences of the Century Properties, Inc. as his flagship project being the country’s tallest condominium building so far. The construction of a 70-floor building structure along Kalayaan Avenue, Makati City is also ongoing. - LG

define SMX as the events venue

EXceptional space and EXtraordinary service in an EXcellent location. This is how the SMX Convention Center is positioning itself in the Philippine MICE industry as the venue for international exhibitions, large-scale local trade events, major medical and other industry conventions and corporate and social functions. Located in the Mall of Asia Complex, Pasay City, the 46,647square meter building boasts of 21,000 square meters of flexible leasable space with four halls, five function rooms and 14 meeting rooms. SMX, a privately-run exhibition and convention facility, is staffed with highly-trained service professionals who underwent a specialized training module called I-Care: The SMX Way. Patterned after training programs of five-star hotels and international convention centers, I-Care equips the SMX personnel with the knowledge and skills that they need to deliver exemplary customer service to every single client. Accredited suppliers, caterers and hotel partners adhere to the same service standards, as well.

58 | Real Estate World

“Our Event Services and Banquet teams set us apart from our competitors,” notes Dexter Deyto, Senior Assistant Vice President and General Manager. “The wide variety of service providers accredited with us gives our clients different price points. Our professional events manager can also coach organizers who need assistance.” The facility is also another milestone of the Green Architecture Movement in the Philippines. Everything about the building – from the walls to the ceiling, air conditioning to lighting, and even waste management – is eco-friendly. As part of the SM Group of Companies’ thrust to significantly contribute to sustainable development, SMX was designed by Arquitectonica to ensure that it not only serves as a leading convention and exhibition venue, but also as a prime example of caring for the environment. Some of these eco-friendly features include glass panel walls that allow natural light in; air conditioning system uses a refrigerant with no ozone depletion potential and compliant with the Kyoto Protocol; and 12 escalators and lights in all guest comfort rooms are operated by motion detector sensors. Other than these, SMX also takes pride in its facilities that are PWD (persons with disability)-friendly. “All these for very competitive rates, with a small premium because of the world-class facilities and amenities”, adds Deyto. “There are other venues aside from the SMX, but the capacity, amenities and service offered by SMX exceeds our clients’ expectations. Nine out of ten events here are repeats because clients are happy working with us.” - LCL

59 | Real Estate World

25 | REAL ESTATE WORLD

FOR RENT The Residences At Greenbelt San Lorenzo Tower Bi-Level Condo Unit

Total of 155 sq. meters, inclusive of 22 sq meter garden; Two bedrooms, 2 floors (5th and 6th); living and dining room, kitchen, maidâ&#x20AC;&#x2122;s room located on the 5th floor; masterâ&#x20AC;&#x2122;s and 2nd bedrooms with separate T&B, library and workstation located on the 6th floor;

Fully furnished; living room set made by world-renowned Filipino furniture maker Kenneth Cobonpue; 6-seater dining set with console and buffet tables, queen size 4-poster and Japanese beds made by Filipino iconic furniture maker Benjie Reyes; Lavishly adorned with art pieces by leading Filipino artists; Standard appliances include 5 split type aircons, LCD TVs, 2-door ref, washer and dryer, microwave, water heater;

22 sqm garden with high glass enclosures and sunroof

Two (2) parking slots, tandem (B3 155T).

Contact +63 919 850 4668

Professionali

of brokers tops okers tops

REBAP Chairman Julius Topacio

REBAP President Emily Duterte

ization

s REBAP agenda

group of licensed real estate brokers bonded together in 1979 to pursue a common objective of professionalizing the real estate industry and raise the level of ethical standards of licensed real estate practitioners. Thus, the Real Estate Brokers Association of the Philippines, Inc. (REBAP) was born. To fill the specific needs of investors, buyers and sellers of real estate, REBAP instituted a class of expert real estate professionals called Certified Real Estate Brokers (CRBs) who are experts in listing, negotiating, selling, investments, taxes and other real estate related matters, ready to serve the community they circulate in. Each is a part of a larger network of real estate professionals. A non-stock, non-profit, non-sectarian and non-political corporation, REBAP has grown to over 1,500 regular and associate members in 21 chapters nationwide. â&#x20AC;&#x153;We are in a very vibrant and promising stage in our industry because of all the developments in the 63 | Real Estate World

64 | Real Estate World

65 | Real Estate World

Don’t Miss the Big Opportunity Written by Bob Moles Chairman, Intero Real Estate Services, Inc.

n this type of market, it’s best to focus on what’s working, what’s favorable, what’s reality. And when preparedness meets opportunity you get success. Whether you’re a buyer, investor, seller or agent trying to make sales, you strive to find the opportunity for success. Distressed home sales continue to represent this opportunity. In the U.S., distressed homes – those homes that are in danger of going into foreclosure or are for sale because the homeowners defaulted on their mortgage – represented 32 percent of home sales last month in July, unchanged from June’s numbers, according to a recent report from the National Association of Realtors.

Bob Moles

What’s happening here and why should we pay attention?

In a word: inventory. Distressed properties more and more are making up a huge chunk of the inventory in many markets around the world (not just here in the U.S.). The selection of properties on the market today is greater and more diverse than it has been for many years. Finding the ‘perfect’ home has never been easier. Today’s real estate market actually offers buyers unprecedented opportunity, and perhaps the best time ever to buy a home. But wait! Remember that great Warren Buffet quote about when to get interested in an investment? He said: “Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can’t buy what is popular and do well.” At first thought, you’d think that something that already represents a third of the market for home sales is past the tipping point. But I don’t believe that. We’ve been doing very well at Intero by studying the market and moving swiftly to seize distressed opportunities. So should you.

66 | Real Estate World

Earlier this summer at the last SMART Expo conference in Hong Kong, I spoke about distressed properties and will be doing so again during the October Expo. The distressed market is nothing to run from, folks. In fact, the true real estate lovers saw this coming long ago and stashed cash accordingly. And sure, for the average consumer, buying a distressed property is going to be a mind-boggling experience (if it even happens in the first place). But all the more reason to study the process and figure out how to make it work if you’re really interested in pursuing this opportunity. When preparation meets opportunity you get success. Let me share with you some tips on finding a market that may be a better investment than most. First, find a community where prices have steep discounts in upwards of at least 35% usually found on foreclosure purchases. If you find this, ask does the area have a year-over-year growth in median home prices? Last test question - what is the regional unemployment rate? If it’s low you’ve hit the jackpot and found a place that may give you a large investment gain.

”Risk comes from not knowing what you’re doing.” Al Mendoza

Recently Realty Trac, the National Association of Realtors and the Bureau of Labor Statistics did some research on locations within the U.S. that fulfilled the three questions I posed to you above. The areas that fell into the criteria were as follows: • San Francisco-Oakland-Fremont, Calif.: Forty-five percent of home sales in the first quarter were foreclosure properties, selling at a discount of 41%; the average foreclosure sold for $327,262. Overall, home prices in the area rose 28.9% from the first quarter of 2009 to the first quarter of 2010.

• Cleveland-Elyria-Mentor, Ohio: Twenty-six percent of homes sold in the first quarter were foreclosures, sold at an average discount of more than 45%. The average foreclosure sold for $71,438. But home-price appreciation has been strong in Cleveland, with prices up 53.8% in the first quarter of 2010, compared with the first quarter of 2009. • Memphis, Tenn. Thirty-seven percent of homes sold during the first quarter were foreclosure properties, sold at an average discount of nearly 53%. The average price of a foreclosure home in Memphis: $72,904. Home prices increased 18.5% there between the first quarter of 2009 and 2010. • Buffalo-Niagara Falls, N.Y.: Of the 800 properties that sold there in the first quarter, 8% were foreclosures, selling at a discount of more than 47%. Foreclosures sold for an average $57,191 in the metropolitan area. Median home prices rose 7.5% over the year. • Milwaukee-Waukesha-West Allis, Wis. Twentytwo percent of properties sold during the first quarter were foreclosures, sold at an average discount of nearly 48%. The average price of a foreclosure home there was $89,839, and home prices in general increased 6.8% there over the year.

Where can you learn more about the market for distressed properties? We have knowledgeable agents who can help. Even international investment specialized agents, with multi-lingual capabilities so you can work comfortably and confidently in your native language. There are many agents today specializing in the distressed property field for the very reason of educating their clients on real estate investment. Even so, I’d advise you to do some reading on your own as well. Take the time to choose the right agent and be sure you’re armed financially. There are many great opportunities around the globe. Every country has its ‘distressed market’. So to ensure you make a wise investment follow the guidelines given, be prepared, and take advantage of the local real estate expertise. 67 | Real Estate World

WORLDWIDE Belgrade Real Expo

Venue: Belgrade Fair Grounds, Belgrade, Serbia And Montenegro Date: 03-NOV-10 to 05-NOV-10

CITYSCAPE USA

Venue: Jacob K Javits Convention Center, New York , United States Of America Date: 02-NOV-10 to 03-NOV-10

Foreign Real Estate Showroom Venue: Saint Petersburg Sports and Concert Complex, St. Petersburg, Russia Date: Date: 05-NOV-10 to 07-NOV-10

http://www.biztradeshows.com/real-estate/november/

REAL ESTATE

EVENTS

Property Management Exposition & Conference Venue: Metro Toronto Convention Centre, Toronto, Canada Date: 01-DEC-10 to 03-DEC-10

Cityscape India

Venue: Bombay Exhibition Centre(BEC), Mumbai, Maharashtra, India Date: 08-DEC-10 to 10-DEC-10

NOVEMBER DECEMBER

2010 http://www.biztradeshows.com/real-estate/december/

Gems to Grow

Real Estate Business

by: Bernice Ross

You're running a business -treat it that way

Are you investing in training, new technology Simplicity is the Holy Grail and innovation? If not, allocate between 9 percent and 15 when marketing on the Web percent of your gross commission income to these activi How much do you have crammed on to your ties -- it's the best way to always be a step ahead of your home page? Most agents try to get to many items on that competition. page. To get better results from your home page ask, "What do my users really want from this page?" Give them Preparation trumps what they want and make it easy to find. Remember -- keep being gifted it simple, concise and clear. After you reach a certain level of talent, the difference between stellar performance and mediocre Reduce your performance comes down to a single factor: preparation. pay-per-click costs Those who succeed across all professions are those who While you may not always be able to use this prepare, prepare, prepare. strategy, Ben Kinney suggested that if you are posting a pay-per-click ad (those ads you see in Google at the top of the page and on the right-hand side of your searches) you The pain of discipline can keep your costs down by including your phone number. Not having clear focus is like drag on an If the person calls you rather than clicking through to airplane. Clear focus and discipline help you reach your your website, you have a real lead. Best of all, you didn't goals sooner and with less effort. "The pain of discipline pay the pay-per-click fee. weighs ounces. The pain of failure weighs tons."

72 | Real Estate World

Use the "Like" button In March of 2010, Facebook surpassed Google as the

Use a heat map

I really loved this idea from Chumbley as well. If most visited website in the world. To take better advantage of you're active on Foursquare, report in whenever you are in your Facebook, if you have a blog, post a "like" button at the bottom of farm area. Chumbley uses a "heat map" that illustrates he spends your post. The challenge with using the "like" button is that many the bulk of his time actively doing real estate-related activities people are now just clicking on the "like" button rather than engag- in his farm area. ing in a conversation. In fact, the current ratio is approximately 10,000 "Likes" for every 1,142 "shares."

Geo-target

Geo-targeting is nothing new in real estate. Our industry has had "farm" areas for years. Nevertheless, If you're using Facebook, there are several pitfalls that could cause major problems for you. First, if you don't log out of Facebook "geo-targeted advertising" (linking ads based upon your interests and your location) is one of the hottest trends today. while you surf elsewhere, Facebook tracks the sites you visit. This If you're online regularly, you'll notice that many sites display allows Facebook to tailor their advertising to you. In essence, this is ads based upon the location of your ISP. For example, you may providing your information to third-party vendors. Second, if you do something that violates the Facebook terms of use, be traveling across the country, but when you are online, you'll notice the ads still match your hometown. In other instances, the they can take down all of your content. Third, there continue to be issues as to who owns the content that ads may display for the area where you are visiting. you post on Facebook -- is it yours or does it belong to Facebook? To To take advantage of this trend, several speakers highly recomkeep protected, post your core content on your own website or blog mended taking local ads in Google and Facebook. In fact, Faceand use a link in Facebook. This way, if the Facebook gremlins have book may be a better ad spend due to the fact that it has such a a glitch or decide that they don't like you, your data is secure on a site wealth of data about its users, where they live, as well as their Web surfing habits. that you control. While this is a great list, it's only useful in terms of what you choose to implement. There's so much to choose from it can be 365 blog posts on fun overwhelming. The best way to approach this issue is to choose things to do in your area a single strategy, implement that, and when you're comfortable, Dale Chumbley has been building his business by posting an activity a day to do in his area. While you may not want to take on move on to implementing something else. such a daunting task, you can keep your site relevant by posting Remember the old proverb, "A journey of 10,000 miles begins events and other high-interest items regularly on your blog. If you with a single step." need some inspiration, check out Eventful.com, which lists upcoming Bernice Ross, CEO of RealEstateCoach.com, is a national events in your area. Meetup.com lists groups that are meeting face to speaker, trainer and author of the NAR #1 Best Seller, â&#x20AC;&#x153;Real face about a shared interest. This could include cooking glasses, Estate Dough: Your Recipe for Real Estate Success.â&#x20AC;? Hear alumni groups, people who speak Welsh, or almost any other topic Bernice's five-minute daily real estate show, just named "new where a group shares an interest. Another place to check is and notable" by iTunes, at www.RealEstateCoachRadio.com. You can contact her at Bernice@RealEstateCoach.com or TripAdvisor.com, which is a great source for restaurant reviews as @BRoss on Twitter. Contact Bernice Ross. well as feedback about local hotels and other recreational activities.

Facebook user beware

73 | Real Estate World

construction of our buildingsâ&#x20AC;?, Dela Cruz pointed out. To bolster the mainstreaming of green building, the PhilGBC came up with a green building rating scheme called BERDE or Building for Ecologically Responsive Design Excellence.

He added tha there is also a need to further strengthen the BERDE system, upgrade professional skills and harmonize environmental rules and regulations - RJA

MAKATI VILLAGES PROPERTY FOR SALE

DASMARIĂ&#x2018;AS VILLAGE: 1.

Location : Palm Avenue Lot Area : 897 square meters Description : 2sty house, 4BR-den individual TB, garden, 6-8carpark Price : P95Million - as is (Bank Foreclosed)

Location : Cerada St. Lot Area : 1158 & 1324 square meters Description : vacant lot Price : P89Million & P102Million

Location : Recoletos St. Lot Area : 1002 square meters Floor Area : 314 square meters Description : bungalow 3BR, 3TB, maids room, family room, pool, 2car garage Price : P80Million

Location : Sto Domingo St. Lot Area : 1121 square meters Floor Area : 517 square meters Description : bungalow 2BR, 4TB, maids room, family room, pool, 2car garage Price : P92Million

: Magnolia St 4. : 2600 square meters total area Description : 2sty concrete built 1986, 1st class materials for renovation, 5BR-den 6TB, 1300 each lot with individual title. 5. Price : P90T/sq.m.

Location : Sto Domingo St. Lot Area : 1046 square meters Floor Area : 526 square meters Description : 2sty 3BR, 3TB, maids room, pool, indoor garden, 2car garage Price : P86.5Million

Location : Mahoganny Lot Area : 1150 square meters Description : split level house 5BR-den 6TB, garden, pool, 4car garage Price : P115Million

Location : Paraiso St. Lot Area : 1500 square meters Description : split level, 3BR-den 5TB, guestroom pool & garden, vacant Price : P110Million

Location Lot Area

URDANETA VILLAGE:

Location : Lumbang Lot Area : 1037 square meters Description : with old house Price : P90T/sq.m.

Location : Sto Tomas St. Lot Area : 890 square meters Floor Area : 325 square meters Description : split level bungalow 4BR, 4TB, maids room, 2car garage Price : P71.5Million

Contact for Viewing: Grace Geverola - +63 927-8369426

| Real estate WoRld 103103| Real estate WoRld

Health, Retirement & Green trends

shaping real estate direction ealth, retirement and green opportunities in real estate projects in the Philippines can help fill up the perceived glut in inventories and serve as attractions for investors and retirees. Nelson Terrible, president of the Techno-Asia Construction and Development Inc., says a lot of Filipino immigrants plan to retire here. Even Americans and Europeans are considering the Philippines as a less costly option to live in, as property costs here do not depreciate significantly. â&#x20AC;&#x153;The problem is how to dispose of the current huge inventories. Can we sustain the market? Private and government sectors should work together to attract foreigners especially in medical tourism where we can capitalize on our very good nurses, very compassionate caregivers and hospital workers,â&#x20AC;? he says.

80 | Real Estate World

In line with this goal, Terrible says his company is developing lakeside and wellness residential projects, including Club Balai Isabel in Talisay, Batangas. It features 144 units of lakeshore homes, a cluster of condominium, blocks of residential homes, a wellness center, a medical center, hospitality units and the Espousal of Joseph and Mary Chapel, a reproduction of an old Barcelona church. Aside from the Club Balai Isabel, other hotel projects are Isabelle Royale in Makati and the Isabelle Garden Hotel and Suite in Paranaque. The hotel business is a relevant diversion from its 27-year experience in retail and wholesale affordable, medium- to upscale housing projects in prime residential properties in Manila. It also offers facilities management services and construction project management Terrible adds that apart from the price, other prime considerations in developing a project are location, quality, latest design and material trends. The company opts for classic Mediterranean-inspired designs, although yuppies prefer the Zen’s clean and neat look. Its upcoming condominium project in Paranaque which he calls “The Ultimate in Affordable City Living” provides, for example, a fully-finished 13-square-meter unit for only P750,000. “Going green is another trend that gives better long-term impact and so we are concentrating on inner city development to lessen the carbon footprint. In our projects, people don’t need cars and can just use public transport to move around. I also go for big windows and energysaving devices,” he stresses. Terrible projects a 20 percent growth this year. “We are very, very optimistic; everything is on target. Business is better this year,” he says. – LG

81 | Real Estate World

New luxury hometown

community opens in Pampanga

ant to feel like you are living in America in your own country?

Landco Pacific Corporation’s newest development, Woodgrove Park in San Fernando City, Pampanga provides this ambience. Company president and chief executive officer Alfred Xerez-Burgos III says they adopted the Southern-American theme for their 48-hectare luxury hometown community project considering that Pampanga has a lot of residents working or living abroad especially in the United States.

“We want to bring the American living experience here through this project,” he notes.“This is quiet different and the first of its kind for us.”

82 | Real Estate World

The project comprises four clusters, with the second one to be sold early 2011. Lot sizes of 250 to 400 square meters are priced between P1.4 million to P2.5 million. Total sales to be generated from the four clusters are estimated at P2 billion. Last July, Woodgrove Park inaugurated its first-class Clubhouse that featured a basketball court, free adult and kiddie pools and jogging trail.

Aside from giving the homeowners an ideal venue for fun and relaxation with plenty of open spaces, the Southern American-inspired facility also features a compelling aesthetics. The grandness of the Clubhouse is evident with its wrap-around porches, dormers and the central park. Woodgrove Park is a joint venture between Landco and Central Weyland Properties Inc. - LG

83 | Real Estate World

Sky Experience

Adventure is latest Cebu attraction

any tourists from all over the world used to enjoy Cebu because of its history and famous beaches. These days, an additional attraction came via Crown Regency Hotel and Towersâ&#x20AC;&#x2122; sky rides. Called Edge Coaster and Sky Walk Extreme, these rides had been very popular to local and foreign tourists, says Edward Tan, creative director of the hotel. Uniquely the worldâ&#x20AC;&#x2122;s very first and only amusement ride of its kind, the Edge Coaster got its name because the coaster literally travels around the edge of the building while riders are strapped to a rail seat that can be tilted down to 55 degrees. Riders get a breathtaking view of the city at 430 feet high. On the other hand, the Sky Walk Extreme from the 37th floor gives a sky leisure trip and allow one to walk around the edge of the building at 415 feet high while being tied to a safety harness used in James Bond movie stunts. Tan says appropriate measures are undertaken to ensure the safety of the riders.

84 | Real Estate World

Edge Coaster is built by an American company that strictly complies with a “double redundancy” safety policy that ensures the coaster has four locking mechanisms working at one time. “This takes out the worry so you’ll have all the fun,” he notes. “The facilities are maintained and checked every day before the opening and after closing to ensure every thing is in place. Six new other thrills are coming late this year. These include Tower Zip where one zips itself on a cable line across two buildings almost 500 feet high; Sky Glider where rider can travel across two buildings 45 degrees on a glider; Vertigo where one climbs a 30-foot wall and feel the rush as you reach its peak; Cliffhanger where one goes up an angled wall assisted by a pulley system; High Point where one can experience the highest point of adventure by climbing an 80-foot pole; and Free Fall where one feels the gravity as he free falls from a 40-foot drop strapped on a secured seat without harness or cable. The 489-room hotel also offers the Sky Observatory which has the best view of the city with coinoperated binoculars and telescopes. It also boasts of Cebu’s first and only 4D theater and world-class dining featuring Asian and international-inspired cuisines with live entertainment. - LG”

85 | Real Estate World

DMCI levels up as the competitors’ choice What does 50 years of industry experience bring to a company? For DMCI Homes, it means value engineering, expertise, flexibility, leadership, cost-efficiency. It means being appreciated even by its competitors that they live in DMCI homes or hold their events in one of its function halls. Known initially as a builder and later diversified as a developer, DMCI Homes finds a very unique advantage in having inhouse professionals and skills, a benefit passed on to customers who confirms that they get quality and value for their money. “While maintaining quality, our units are at least 30 percent cheaper because we have streamlined and perfected our operations through the years,” says Engineer Elmer G. Civil, Director for Design and Construction. “Each project is different and developed with client delight in mind, getting better and better and cheaper and cheaper every time.” DMCI Homes can also turn over a completed project six months because operations are integrated, he adds. The fast-paced lifestyle of people especially in the urban areas inspired the internal and external resort-style theme that is an attractive feature of the company’s projects, he notes. One can find Asian or European influences in them, accentuated by pocket gardens, picturesque landscaping and world-class facilities that are completed even before the residential or commercial units are finished. There is also the growing trend adopt eco-friendly materials and designs, adds Civil, as they prove to have longterm cost-benefits, aside from helping address environmental problems. Following this trend, its unit in _______ Tivoli Garden Residences boasts of energyefficient features with its Lumiventt design technology

Differentiating the market

According to Civil, their competitors are mostly offering investment units often serving as half-way houses for transients. Thus, these units are significantly less spacious yet expensive and with slower turnover because they were subcontracted. Civil adds that it’s possible that sister company DMCI Construction may be one of these subcontractors. To clear the confusion in some people’s minds on the company’s identity, Civil explains that DMCI Construction serves external clients, while DMCI Homes is focused on the company’s projects. Both are 100% Filipino owned, with DMCI Homes having 200 technical employees and about 3,200 project employees “who were never out of work since DMCI Homes was established in 2002 because of the company’s fast project turnover”. “Our niche market is very clear: end-users who are mostly young families and middle managers. This differentiation has enabled us to customize our projects to fit their requirements. As a result, these satisfied clients have passed on the good news of their purchase to others who in turn, also buy from us,” he notes. From 1999, DMCI has delivered 14,000 units, with 4,000 more to be completed by the end of the year. These include midrange to high-end mid-rise condominiums, duplex, single-detached and townhouses in the major cities of Metro Manila, costing from P2.5 million for a 42 square meter house. The company is also exploring Cebu and Baguio for possible developments. Civil projects that the current real estate demand will hold for up to five more years, “because the available units are either very expensive or not liveable”, he explains. “DMCI Homes is ready to fill this gap,” he says. As of 2009, DMCI Homes is already in the third position in terms of sales. He however cites that business can even be better if regulatory policies and procedures are streamlined and improved. Inspired by a successful track record, DMCI Homes is also helping local governments to clear waterways and roads, even advancing money to facilitate constructions. – LCL

88 | Real Estate World

89 | Real Estate World

"Suddenly, we were jobless and carless, but it was a blessing in disguise"

90 | Real Estate World

"But as studies show, real estate is really a GNP mover, an industry that contributes much to economic development"

91 | Real Estate World

Successful resort owner is a drop-out

turned self-made man

amuel â&#x20AC;&#x153;Boyâ&#x20AC;? So, proprietor of La Carmela de Boracay, is an adventurer who was carefree, had a lot of vices and dropped out of school. But at the age of 21, he realized he had enough of trying to self-destruct and decided he had to make something of his life. He first ventured in the construction and hardware business. When his small business grew, out of boredom and as a way of de-stressing, he and a group of Taiwanese friends formed a joint venture and planned to buy a 214 square meter sea front property. But the joint venture did not prosper. Instead, he ended up buying the property where he built a small restaurant and some rooms for rent. His business became profitable and later expanded. From a P50,000 capital, he now operates a multi-million peso enterprise and still growing. At the same time, he runs La CafĂŠ de Carmela with TV host, Boy Abunda. It has several branches in Metro Manila. La Carmela now offers over 300 rooms and still expanding from its original 20 rooms in 1987. But what makes it different from the other resort hotels in the area?

92 | Real Estate World

“La Carmela boasts of many firsts. It is the first resort hotel to have a scenic elevator in Boracay from where one gets to see the panoramic view of the blue sea with its white sand, the lushness of the environment, nearby islands and surrounding mountains. It is likewise the first to introduce bidets in comfort rooms and one of the first to have a theater-type function room that can accommodate 1,300 to 1,700 people, considered as one of the biggest in Boracay,” he explains. It also features swimming pools, spa center and room massage, international cuisine, newly-renovated themed rooms in Greco-Roman, African-Safari, OceanView inspiration and other amenities which aim to give their customers value for money. But since 2004, management has decided to expand its clientele from the C to the A market. “The lower-income customers, like the rich and famous, deserve to be pampered too by all our amenities,” notes So. “But obviously, we also need the A market that can afford to pay for more services at higher fees. And if one is to experience paradise, both markets will not be disappointed with La Carmela de Boracay, a paradise within a paradise.” Grace T. Mirasol

93 | Real Estate World

inay ares roadmap

to successful socialized housing program

94 | Real Estate World

95 | Real Estate World

about3.6 3.6million millionhousing housingdemand demandstill stillunserved, unserved, ithithabout theHousing Housingand andUrban Urbandevelopment developmentCoordinating Coordinating the Council(HUDCC) (HUDCC)has hasitsitshands handsfull, full,particularly particularlyin in Council assisting main constituents, the poor, gain access assisting itsits main constituents, the poor, gain access affordable,decent decenthousing. housing. totoaffordable, NewChairman Chairmanand andVice VicePresident PresidentJejomar JejomarBinay Binayfinds findsthe therole rolevery very New “challenging”, but something that close heart, considering that “challenging”, but something that is is close toto hishis heart, considering that wasalso alsoborn borntotoanan“underprivileged” “underprivileged”family. family. hehewas thefollowing followinginterview, interview,heheshares shareswith withReal RealEstate EstateWorld Worldmagazine magazine InInthe howheheassesses assessesthe thecurrent currenthousing housingsituation situationand andthe thepolicies policiesthat that how HUDCCwillwillpursue pursuetotofulfill fulfillitsitsmandate. mandate. HUDCC Onthe theincreasing increasinghousing housingdemand: demand: On The housing requirement the country when I assumed office still The housing requirement in in the country when I assumed office is is still aa challenge.The The demand (see breakdown below), defined accumuchallenge. demand (see breakdown below), defined asas accumulatedneed needplus plusnew newhouseholds, households,is isestimated estimatedtotoreach reachmore morethan than3.6 3.6 lated millionin in2010. 2010. million 96 | Real Estate World

Component

Need as of January 2007

Total Need (2007-2010)

A. Accumulated Needs

1,273,395

1,380,537

1. HH in Unacceptable Housing Units

859,310

931,611

a. Homeless

11,937

12,942

b. Dilapidated/Condemned Units

134,931

146,284

c. Marginal Housing

712,442

772,385

2. Doubledâ&#x20AC;&#x201C;up HH in Acceptable Housing Units

414,085

448,926

B. Future/Recurrent Needs (new HH and allowance for Inventory Losses)

2,253,435

TOTAL

3,633,972

On critical policies to address the housing requirement: HUDCC is gearing towards the reduction of the housing gap, giving priority to the problem of the homeless poor, and incentivizing the private sector and the local government units to lead in the production of more housing units. The following are the policies and strategies we wish to undertake: A. Strengthen the partnership with the local government units (LGUs) in the delivery of housing services. 1. Adopted a comprehensive approach to in or near city relocation/housing of informal settlers. An assessment of the various resettlement areas of informal settlers involving 50,000 housing units has been conducted and a new policy on an enhanced resettlement procedure will be adopted. This is in response to the call for a humane and just treatment of informal settlers. Receiving and sending LGUs will be given compensating benefits for partnering in the relocation of informal settlers. 97 | Real Estate World

2. Geared towards institutionalizing the creation in each LGUs of a Local Housing Board (LHB) that will become the focal unit in the delivery of housing services. 3. Reviewed and redirected existing programs/projects implemented by the shelter agencies to make LGUs a significant partner in their housing programs. Development funds will be directed to LGUs and their own resources will be harnessed in the development of housing projects for their constituents and government employees. B. Create a strong public-private partnership and a business-friendly environment in the housing sector 1. We doubled the housing target for private initiated housing development. It is imperative that the needs and requirements of developers and investors in housing will be given utmost attention. We intend to implement programs guided by President Aquino’s pronouncement,” Kayo ang Boss Ko”. 2. We are continuously studying the creation of tax and fiscal incentives to private housing developers or investors in general. 3. There will be reduced red tape in the processing of loan applications of developers and homebuyers, and simplified processes in registration, issuance of land title and housing permits in national and local levels. 4. We are providing incentives to make the monetary contributions of donors to the Gawad Kalinga, Habitat for Humanity and other NGO’s eligible to the 20% balanced housing requirement. Also, incentives will be given to reduce costs of producing houses especially for socialized housing units. 5. We are considering the granting of capital gains exemption credits to donors who would give away their land to NGOs and government for socialized housing units 6. We are tapping the rural banks and micro finance institutions to implement a housing Micro Finance Program, which is a major resource mobilization program to increase the provision of housing loans to the poor.

Housing and Urban Development Coordinating Council (HUDCC) Vision As the highest policy making and coordination body on housing and urban development, HUDCC shall facilitate access to a variety of housing options that are decent, affordable and responsive to the diverse and changing needs of homeless and underprivileged Filipino families. Mission We envision HUDCC to provide overall direction for the promotion of decent and affordable housing opportunities and sustainable human settlements for families belonging to the lowest income strata of our society. Key Programs & Projects 1.Secure Tenure •Land Proclamations •Resettlement/Relocation Programs 2. Housing Finance •HDMF Lending Programs •Community Mortgage Program •Development of Poor Urban Communities Sector Project •Abot-Kaya Pabahay Program •HGC Developmental Guarantees 3. Capability Building •IMPACT-Cities Alliance •Technical Assistance to LGUs •Compliance to 20% Balanced Housing Requirement 4. Special Projects •New Bilibid Prison •PD 957 - Subdivision and Condominium Buyers Protective Decree •Campaign Against Professional Squatters and Squatting Syndicates HUDCC Chair and VP Jejomar Binay: A Profile Jojo Binay was not born into wealth and political prestige, nor did he taste the privileges accorded to the scions of the rich and powerful.

HUDCC Chair and VP Jejomar Binay: A Profile Jojo Binay was not born into wealth and political prestige, nor did he taste the privileges accorded to the scions of the rich and powerful. A true man of the common people, Jojo Binay grew up in Makati and Pasay. Orphaned at an early age, he supported himself through law school, shunned the corporate world for the parliament of the streets, and stood tall at the barricades at EDSA during those glorious four days in February 1986. For 20 years, Jojo Binay presided over the phenomenal growth of his Makati, steering the once backward municipality into a vibrant and modern metropolis. Under his governance, the people of Makati shared in the fruits of economic progress through groundbreaking programs in education, health and social welfare. And as president of the United Opposition (UNO), Jojo Binay crusaded against political tyranny, inequality, injustice, ignorance and poverty, endearing him to the masses. Jejomar “Jojo”Binay was born on November 11, 1942 to Diego Binay of Batangas and Lourdes Cabauatan of Isabela. Orphaned at the age of nine, his uncle Ponciano of Culi-Culi, Makati took care of him. As a young boy, Jojo would collect slop (kaning baboy) for his uncle’s backyard piggery, clean the front yard early in the morning, and look after his uncle’s fighting cocks. Afterwards, he would go to the public market for his daily errands. Jojo is a product of the Philippine public school system. He graduated with honors from the Philippine Normal College Training Department, and the University of the Philippines Preparatory School. He also had to work to stay in school. He graduated with a degree in political science and Bachelor of Laws from the UP College of Law. He passed the bar exams in 1968, and took masteral subjects in public administration and law in UP and the University of Sto. Tomas, respectively. In between jobs and earning degrees, he gave lectures and taught law, political science and public administration at the then Philippine College of Commerce, Philippine Women’s University and St. Scholastica’s College. He stood up against the dictator during Martial Law and was put into prison for defending political prisoners. He had just gotten

married then, to Dr. Elenita Sombillo, who bore their first baby while he was in prison. A defender of human rights, he became active in different groups and organizations that seek justice for everyone, especially the poor. He joined the August Twenty-One Movement, so named after the death of Ninoy Aquino,and was one of the founders of MABINI, the Movement of Attorneys for Brotherhood, Integrity and Nationalism, Inc., with some of the prominent figures in the anti-dictatoship movement. Jojo Binay stood tall at the barricades of EDSA during the February 1986 Revolution that ushered in an era of democracy. After the EDSA Revolution, President Corazon C. Aquino appointed Jojo acting mayor of Makati. Jojo was Mrs. Aquino’s first appointed local official. Jojo later won, on his own, the mayorship of Makati in 1988 and was reelected in 1992 and 1995. He returned to Makati in 2001 and served three full terms. He is known to be tough, fearless. But he has a soft heart for the young. And for family. He knows how important elders are in the family, more so in a city that has been through the worst. He values their contribution to society and the city, and he wants to give back to them. That’s why in Makati, senior citizens receive benefits unheard of elsewhere. Jojo Binay knew poverty, but he saw wealth in education. As mayor, he built the best equipped public schools in the country, provided public school students with free school supplies and books from pre-school to college. As a student activist, he used to rebel against a system where only the rich could get the best health services. He has done something about it. In Makati, medicines and hospital accommodations are free for the poor. Despite his sterling achievements as a student, human rights lawyer, and local chief executive, Jojo still took up graduate studies at the National Defense College of the Philippines (NDCP), the Command and General Staff College (CGSC), the Center for Research and Communication (now known as the University of Asia and the Pacific), the Joint Services Command Staff College (JSCSC), and the UP School of Urban and regional Planning. He was senior executive fellow of the John F.

Kennedy School of Government at Harvard University. Jojo is also active in civic work. He is the national president of the Boy Scouts of the Philippines and an officer of various international organizations. He also holds the rank of Colonel in the Philippine Navy Reserve Force. In 1998, Jojo was appointed Chairman of the Metropolitan Manila Development Authority (MMDA) with cabinet rank. He was also appointed as Vice-chairman of the Pasig River Rehabilitation Commission and Traffic Czar for Metro Manila. Jojo Binay and his wife Elen are blessed with five children – Maria Lourdes Nancy, Mar-len Abigail, Jejomar Erwin, Marita Angeline, and Joanna Marie Blanca. They are his inspiration, and provide support in every challenge he faces. Jejomar Binay has become an inspiration and a model to other leaders of the nation. A city is a country. The mayor is faced with problems that bother countries, and presidents. He has triumphed over the challenges that he has faced in Makati. As Vice President of the Republic of the Philippines, he is ready to do his share in facing the new challenges in his career and in the life of the nation. (Source: HUDCC website)

On the definition of “socialized” housing and “poor” people: “Socialized housing,” as defined under Republic Act 7279 or the Urban Development and Housing Act of 1992, refers to housing programs and projects covering houses and lots or homelots undertaken by the government or the private sector for the underprivileged and homeless citizens. This shall include sites and services development, long-term financing, liberalized terms on interest payments, and such other benefits in accordance with the provisions of this Act. The Philippine urban poor as defined under Republic Act 7279 refers to the people in urban and urbanizable areas who are characterized by lack of basic assets to live a decent quality of life, have inferior quality housing, insecure tenure and little or no access to public health services, with limited or lack of access to basic municipal infrastructure services, and whose income fall within the poverty threshold set by the government. On idle government lands and private sector participation in addressing the housing demand: I have said time and time again that the HUDCC will pursue tie-ups with Gawad Kalinga and adopt the GK model in building sustainable communities in cooperation with the private sector shelter groups. For the Asset Reform Program, we are adopting the following initiatives: 100 | Real Estate World

1. Strengthen the implementation of the Asset Reform Program involving the utilization of idle/underutilized government lands and hasten the issuance of land titles to intended qualified beneficiaries in all housing proclamation projects. At present, we are conducting an inventory of lands available for socialized housing, including LGU lands. a. Access to land for suitable and affordable housing. b.Creation of new regional sustainable communities to disperse the concentration of people in the urban areas. 2. Review of the present guidelines to fast-track the processing of request for proclamation and to clarify the role of HUDCC as policy formulator only, and policy reviewer and monitor in Post Proclamation Activities. HUDCC will see to it that the delivery of commitments of member agencies in the Local Inter-Agency Committees (LIAC) are delivered within the prescribed time-frame as mandated in the IRR of the proclaimed sites. 3. Adopt alternative tenurial arrangements such as lease or usufruct which will reduce the cost of land for beneficiaries. - LCL 101 | Real Estate World

RECOMMENDS “David Lynn’s collection of articles on real estate markets are applied research at its best. The analysis is thorough, concise, and to-the-point. The book leaves you with a richer understanding of real estate market dynamics. It is a must-read for serious real estate analysts.” —Peter Linneman, Principal, Linneman Associates (www.linnemanassociates.c om), and Albert Sussman Professor of Real Estate, Finance, and Public Policy at the Wharton School of Business (www.wharton.upenn.edu) “This is a fascinating look between the ears of one of the largest global real estate investment management organizations, providing a timely and incredibly comprehensive view of how these institutions fashion investment strategy. A must-read for both students and practitioners attempting to understand the nature of today’s commercial real estate investment markets and how large institutions like ING approach those markets for the benefit of their institutional investor clients.” —Geoffrey Dohrmann, President and CEO, Institutional Real Estate, Inc. “David Lynn provides an analytical road map for private equity real estate investors, charting strategies in the next market cycle. Lynn’s methodology shows why he is recognized as one of the top forecasters in the industry. He covers all the markets and property sectors with a treasure trove of data to make sense of future trends. This book offers a big picture view with the detailed perspective investors crave.” —Jonathan D. Miller, Partner, Miller Ryan LLC, and author of Emerging Trends in Real Estate and the blog TrendCzar™ (in conjunction with GlobeSt.com)

..................... Ideal for those new to real estate development, this comprehensive reference book offers a thorough and practical introduction. Using an eight-stage model of the development process, the authors explain idea conception, feasibility, planning, financing, market analysis, contract negotiation, construction, and asset management. Ongoing case studies of an office and a multifamily development provide realistic examples.

“Specialist analysis of the situation in the US that combines both theory and practice…” (Long Range Planning, 38, 2005) --This text refers to an alternate Hardcover edition. “Enrique Arzac has provided an excellent analytical framework for the LBO business.” —William T. Comfort, Chairman, Citigroup Venture Capital "Enrique Arzac has created a masterpiece—his work combines the theoretical with the practical. He has created an invaluable reference guide that is thoughtful, complete and very user friendly.... His work should be standard material for all incoming associates.” —James P. McVeigh, Managing Director, Corporate & Investment Banking, Banc of America Securities. “By incorporating over 30 years of research, teaching, and practical experience, Professor Arzac has created a text that is not only timely, but timeless in its usefulness to anyone interested in learning the applications of financial theory for the best and most useful allocation of the scarcest economic resource in the world—capital.”—William W. Priest, Co-Managing Partner, Steinberg, Priest and Sloane Capital Management, Former Chairman and CEO of Credit Suisse Asset Mana gement.

.....................

By the author of the bestselling guide, "What Every Real Estate Investor Needs to Know about Cash Flow... " (McGraw-Hill, 2004) Develop a command of the essential formulas and concepts that underlie income-property investing: * Capitalization Rate * Net Operating Income * Present Value * Debt Coverage Ratio * Internal Rate of Return and much more. Here Gallinelli revisits the 37 key metrics from his "Cash Flow" book and guides you through examples that will lead you to mastery of those concepts. He then takes you beyond those formulas to the next level, with detailed case studies of four different properties: * Single-Family Rental * Renovation Project * Apartment Building * Strip Shopping Center. You'll analyze these properties with him and learn to look behind the numbers, to think like a successful investor and to recognize both the opportunities and the perils you might encounter when you invest in real estate. 103 | Real Estate World

CONDO FOR RENT CODE: RN3121 CODE: RN3121

TWO SERENDRA

Fort Bonifacio Global City Fort Bonifacio Global City

33 bedroom bedroom Fully Fully furnished furnished 130 sqm 130 sqm 11 parking parking Worth Worth P110K/month P110K/month

CODE: CODE:RN3191 RN3191

GRANDHAMPTONS HAMPTONSTOWER TOWER 22 GRAND

FortBonifacio BonifacioGlobal GlobalCity City Fort

bedroom 33bedroom Fullyfurnished furnished Fully 130sqm sqm 130 1 parking 1 parking WorthP120K/month P120K/month Worth

104 | Real Estate World

CODE: RN3109 CODE: RN3109

PENHURSTFortPARKPLACE PARKPLACE PENHURST Bonifacio Global City Fort Bonifacio Global City bedroom 33 bedroom Semi-furnished Semi-furnished 109 sqm sqm 109 parking 11 parking P55K/month P55K/month

CODE:RN3004 RN3004 CODE:

LPL CENTER CENTER LPL

SalcedoVillage, Village,Makati MakatiCity City Salcedo

bedroom 33bedroom Fullyfurnished furnished Fully 270sqm sqm 270 parking 11parking WorthP75K/month P75K/month Worth

CODE: CODE: RN3215 RN3215

MANHATTAN SQUARE SQUARE

Salcedo Salcedo Village, Village, Makati Makati City City

3 bedroom bedroom Fully Fully furnished furnished 270 270 sqm sqm 1 parking parking Worth Worth P75K/month P75K/month

CODE: CODE:RN3125 RN3125

SALCEDO SALCEDO PARK PARK Salcedo SalcedoVillage, Village,Makati MakatiCity City

33bedroom bedroom Fully Fullyfurnished furnished 179 sqm 179 sqm 11parking parking Worth WorthP75K/month P75K/month 105 | Real Estate World

Almost invisible mirrored tree house built in Sweden. T

hey said it couldn't be done. When we

by: Lloyd Alter, TreeHugger

first wrote about the almost invisible tree house to be built in Sweden by Tham & Videgard, 899 commenters thought it was computer-generated eye candy, impossible to build, and death for birds. But the architects built it, one of six units in a "Treehotel," which recently opened 40 miles south of the Arctic Circle in Sweden. The four-meter glass cube looks as spectacular in reality as it did in the rendering. Kent Lindvall, co-owner of the TreeHotel, has been quoted as saying Everything will reflect in this - the trees, the birds,

106 | Real Estate World

ably harvested wood and have electric radiant floor heating and "a state-of-the-art, ecofriendly, incineration toilet" (Although I've owned an incinerating toilet electricity and created noise and some smells. But perhaps they've improved.) But other than that minor quibble, this the clouds, the sun, everything. So it should be invisible

appears to be a truly "eco" resort. The owner

nearly in the forest. and what about the birds?

say in Designboom "This is untouched forest,

According to Designboom, Lindvall says

and we want to maintain it the same way. We

that a special film that is visible to birds will

decided, for example, to not offer snowmobile

be applied to the glass.

safari which is very common up here," says

The units are constructed from sustain

Selberg. Instead, wilderness walks will be offered. 107 | Real Estate World

Best Buy C ONDO CONDO

CODE:RS3049 RS3049 CODE:

SKYLAND PLAZA SKYLAND PLAZA Sen. Puyat Avenue, Makati City Sen. Gil.Gil. Puyat Avenue, Makati City bedroom 33 bedroom Fully furnished Fully furnished 187 sqm 187 sqm parking 11 parking Worth P11M Worth P11M

108 | Real Estate World

+63 CContact o n t a c t NNo. o. + 6 3 99119988550044446688

CODE: RS3061 CODE: RS3061

ANTEL SPA RESIDENCES ANTEL SPAMakati RESIDENCES Avenue, Makati city Makati Avenue, Makati city

3 bedroom 3 2bedroom toilet & bath 2 toilet & bath Bi-level unit Bi-level unit Unfurnished Unfurnished FloorArea: Area:91.32 91.32 sqm Floor sqm 1 parking 1 parking WorthP11M P11M Worth

CODE: CODE:RS3154 RS3154

BELLAGIO BELLAGIO 22

Fort Fort Bonifacio BonifacioGlobal GlobalCity City

33 bedroom bedroom 22 toilet toilet&&bath bath Semi-furnished Semi-furnished 119 119 sqm sqm 11 parking parking Worth Worth P15M P15M

Contact C o n t a c No. t N o +63 . + 6 39 199189580540446486 8

CODE: CODE: RS3193 RS3193 GALERIA GALERIADE DE MAGALLANES MAGALLANES

Magallanes, Magallanes, Makati Makati City City

bedroom 33 bedroom toilet & & bath bath 33 toilet Unfurnished Unfurnished 133 sqm sqm 133 parking 11 parking Worth P8.5M P8.5M Worth

CODE: RS3089 CODE: RS3089 GRAND HAMPTONS TOWER 1 GRAND HAMPTONS TOWER 1 Fort Bonifacio Global City Fort Bonifacio Global City 3 bedroom 3 bedroom 3 toilet & bath 3 toilet & bath Fully furnished Fully furnished 120 sqm 120 sqm w/ maid’s room w/ maid’s room 1 parking 1 parking Worth P15M Worth P15M 110 | Real Estate World

Contact No. +63 9198504468 Contact No. +63 9 1 9 8 5 0 4 4 6 8

CODE:RS3151 RS3151 CODE:

MAKATIPALACE PALACE MAKATI . Burgos St., Makati City P. PBurgos St., Makati City

Bi-level Bi-levelunit unit 3 3bedroom bedroom 3 3toilet bath toilet& & bath Fully Fullyfurnished furnished 144 144sqm sqm w/w/maid’s room maid’s room 1 1parking parking Worth WorthP9.5M P9.5M

CODE: RS3183 CODE: RS3183

PENHURST PARKPLACE PENHURST Fort PARKPLACE Bonifacio Global City Fort Bonifacio Global City

3 bedroom 3 bedroom Fully furnished Fullysqm furnished 141 141 sqm 1 parking 1 parking Worth P15M Worth P15M

Contact No. +63 9198504468 Contact No. +63 9 1 9 8 5 0 4 4 6 8

CODE:RS3133 RS3133 CODE: SOUTHOF OFMARKET MARKET SOUTH FortBonifacio BonifacioGlobal GlobalCity City Fort

bedroom 33 bedroom Fully furnished furnished Fully 117 sqm 117 sqm No parking parking No Worth P12.5M P12.5M Worth

CODE:RS3089 RS3089 CODE: GRAND HAMPTONS TOWER GRAND HAMPTONS TOWER 11

FortBonifacio BonifacioGlobal GlobalCity City Fort

bedroom 33bedroom toilet&&bath bath 33toilet Fullyfurnished furnished Fully 120sqm sqm 120 w/ maid’s room w/ maid’s room parking 11parking WorthP15M P15M Worth

112 | Real Estate World

t acct t NNoo. . ++6633 99119988550044446688 CCoonnt a

15th NREA-HUDCC National Housing Convention and Exhibits

Real estate practitioners came in droves to the 15th National Housing Convention and Exhibits jointly organized by the National Real Estate Association (NREA) and the Housing Urban Development Coordinating Council (HUDCC) last September. â&#x20AC;&#x153;We are very pleased with the big turnout at the conference,â&#x20AC;? says NREA President Marissa del Mar, who was enthralled to report that around 750 real estate practitioners participated in the event against the 500 average turn out for previous national conventions.

side from aiding the professionalization of the industry, del Mar says that NREA always sets out to provide a venue for interaction among real estate practitioners to facilitate the establishment of synergistic partnerships and strategic collaborations. 114 | Real Estate World

The workshops in the Convention are accredited by the newly-organized Professional Regulatory Board of Real Estate Service (PRBREC). Real estate practitioners who attended the workshops would gain Continuing Professional Education (CPE) credits. These credits, as del Mar explains, will be useful when these real estate practitioners secure or

he workshops conducted during the Convention delved into a wide array of issues concerning the sector. These include good governance in housing, government initiatives to boost housing construction, funding sources for affordable housing and real estate marketing and allied industries.

eading the roster of resource speakers at the workshops are experts in their respective fields such as Arch. Felino A. Palafox, DILG Chief Jesse M. Lobredo, Prof. Enrique Soriano, Lucita P. Reyes, Ramon Cuerbo, Atty. Romulo Fabul, Enrico Trinidad, Atty. Nelson Aspe, Jaime Fabiana, Pia Bernadette Tayag, Carlos Estepa, Jr., and Bradley Eric Geiser.

NREA will bring the workshops to the provinces for the convenience of the real estate practitioners who also need to earn CPE. The 19-year-old NREA, as del Mar details, does not only provide professional development courses, symposia and seminars but also business opportunities and assistance to real estate practitioners in close partnership with the government and other relevant sectors.

“We are a one-stop trade organization that effectively provides all kinds of services to industry stakeholders,” says del Mar. We tap the expertise of our members, which real estate practitioners, landowners, property developers, contractors and those that belong to allied professions, such as engineers, architects, urban planners as well as those who work in relevant government agencies,” she adds. - RJA 115 | Real Estate World

G REENBELT Malls lead in

award-winning style, innovation and sustainability

hen the idea of an indoor, outdoor mall concept was first conceived and implemented, many doubted its viability because of the country’s long rainy season. But eight years after Greenbelt 2 and 3 were constructed, developer Ayala Land, Inc., has been proven correct, as international brands approached the mall management to get space to sell from. “We have always tried to address the needs of our customers,” says Rowena Manhit-Tomeldan, Vice President and Chief Operating Officer of the Ayala Malls Group. “At the time that Greenbelt Square started, the office force within Makati needed dining facilities. Thus came La Tasca, Max’s, Tony Roma’s, Larry’s Bar, Josephine’s and Schwarzwalder, even United Supermarket which offered food kiosks.” But other than these well-known restaurants, the other section called Greenbelt Arcade also housed the first Lacoste, Max Mara, Ferragamo, Ralph Lauren shops, among others. The mall was then starting to evolve into an important lifestyle center back then, notes Tomelden. It was at that time that most of these buildings had to go to give way to Greenbelts 2 and 3.

116 | REAL ESTATE WORLD

Greenbelt GreenbeltAwards Awards From From the the Urban Urban Land Land Institute Institute (ULI)(ULI) -Greenbelt -Greenbelt 3- Award 3- Award For For Excellence, Excellence, 2003 2003 -Greenbelt -Greenbelt 5 - Award 5 - Award For For Excellence, Excellence, 2010 2010

workers enjoying a quick lunch andand some grocery workers enjoying a quick lunch some grocery shopping. Coming here is also a form of family andand shopping. Coming here is also a form of family individual reward. Families startstart withwith hearing thethe individual reward. Families hearing Mass, thenthen watch a movie, dinedine andand shop. WeWe Mass, watch a movie, shop. believe thatthat thethe experience evokes positive feelings believe experience evokes positive feelings thatthat go go beyond justjust shopping,” Tomelden explains. beyond shopping,” Tomelden explains. Greenbelt 5 also takes pride of the factfact thatthat it isitthe Greenbelt 5 also takes pride of the is the firstfirst to pay tribute to the Filipino as an by hostto pay tribute to the Filipino as artist an artist by hosting ing a number of of Filipino brands. ButBut Maricris a number Filipino brands. Maricris Bernardino, Division Manager, waswas quick to add thatthat Bernardino, Division Manager, quick to add thethe malls areare never 100100 percent leased because malls never percent leased because theythey always “leave room for for special concepts thatthat always “leave room special concepts maymay come out”. come out”. Christmas thisthis yearyear is another newnew treat, adds Christmas is another treat, adds Catherine Bengzon, Senior Division Manager, withwith Catherine Bengzon, Senior Division Manager, Greenbelt’s many surprises thatthat include first-class Greenbelt’s many surprises include first-class entertainment for the family. entertainment for the family. TheThe almost all-women team of Ayala MallMall managealmost all-women team of Ayala management is very optimistic of the future of retail in the ment is very optimistic of the future of retail in the country. country. “We“We seesee another good yearyear likelike justjust likelike in the another good in the past. WeWe were expecting thethe worst when thethe recespast. were expecting worst when recessionsion hit, hit, butbut we we laterlater realized thatthat people were justjust in in realized people were a wait-and-see mode. Before thethe endend of 2009, we we a wait-and-see mode. Before of 2009, were hitting ourour sales targets justjust thethe same. ThisThis were hitting sales targets same. makes as as veryvery bullish looking intointo thethe future,” makes bullish looking future,” stresses Bernardino. - LCL stresses Bernardino. - LCL

From From the the International International Council Council of Shopping of Shopping Centers Centers (ICSC) (ICSC) -Greenbelt -Greenbelt 3 - 3Gold - Gold in Design in Design andand Development, Development, 2003, 2003, ICSC ICSC AsiaAsia Pacific Pacific -Greenbelt -Greenbelt 5 - 5Gold - Gold in Design in Design andand Development, Development, 2009, 2009, ICSC ICSC AsiaAsia Pacific Pacific Greenbelt Greenbelt 5 - Best 5 - Best of the of the bestbest in Design in Design andand Development Development 2010, 2010, ICSC ICSC Global Global -Bravo -Bravo Filipino Filipino - Gold - Gold in Marketing in Marketing - Community - Community Relations, Relations, 2009, 2009, ICSC ICSC AsiaAsia Pacific Pacific -Bravo -Bravo Filipino Filipino - Maxi - Maxi Silver Silver for for Marketing Marketing ExcellenceExcellenceCommunity Community Relations Relations 2009, 2009, ICSC ICSC Global Global

“The ideaidea waswas to combine dining andand entertainment on on “The to combine dining entertainment three non-traditional anchors: a three-hectare park, museum three non-traditional anchors: a three-hectare park, museum andand chapel,” adds Myrna C. Fernandez, Assistant ViceVice Presichapel,” adds Myrna C. Fernandez, Assistant President. “Before even sustainability became a buzzword, dent. “Before even sustainability became a buzzword, Greenbelt Malls already pioneered thethe concept.” Greenbelt Malls already pioneered concept.” These developments caught thethe attention andand interest of of These developments caught attention interest award winning bodies thatthat wonwon for the MallMall various awards. award winning bodies for the various awards. TheThe growing popularity of both lured Louis Vitton, Gucci, growing popularity of both lured Louis Vitton, Gucci, Prada, Todd’s andand Burberry andand sawsaw thethe birthbirth of Greenbelt 4 4 Prada, Todd’s Burberry of Greenbelt in (year), thethe firstfirst high-end development in Greenbelt. It also in (year), high-end development in Greenbelt. It also sawsaw thethe completion of the integrated infrastructure thatthat waswas completion of the integrated infrastructure thethe vision of Chairman Fernando Zobel de de Ayala. vision of Chairman Fernando Zobel Ayala. Greenbelt 5 completed thethe pedestrian andand vehicular develGreenbelt 5 completed pedestrian vehicular development in the areaarea which nownow comprises about 12 hectares opment in the which comprises about 12 hectares of prime lifestyle space thatthat sawsaw al fresco dining becoming a a of prime lifestyle space al fresco dining becoming fadfad in aintropical country such as the Philippines. a tropical country such as the Philippines. Fernandez notes thatthat “minus thethe heat, thisthis lifestyle hashas been Fernandez notes “minus heat, lifestyle been easily adopted in the Greenbelt environment where thethe ideaidea easily adopted in the Greenbelt environment where of malling as as a form of family bonding hashas started andand of malling a form of family bonding started evolved”. evolved”. “We“We notice a lot of people-watching activities: there areare notice a lot of people-watching activities: there fashionistas; balikbayans withwith families, friends andand guests; fashionistas; balikbayans families, friends guests; office office 117 |117 |Real REAL | REAL ESTATE ESTATE WORLD WORLD 117 Estate World

118 | Real Estate World

119 | Real Estate World

“I expect to license a total of 40,000 up to July 30 next year under the grandfather clause. But we’ll be happy if we can register at least 25,000.”

RESA LAW implementation i

starts

ts all systems go for the full implementation of Republic Act 9646, also known as the Real Estate Service Act (RESA) of the Philippines which aims to address unscrupulous activities of illegal real

120 | Real Estate World

of illegal real estate brokers and agents who used to dupe the public of thousands and millions of pesos. Eduardo Ong, chairman of the Professional Regulatory Board Real Estate Service (PRB-RES) explains that the primary goal of the law is to professionalize the real estate practice. “This ensures that real estate transactions are transparent and legitimate, thus will help boost tax collections and eventually spur the country’s economic growth,” he notes. The RESA was signed into law June 29, 2009 and took effect a month after its implementing rules and regulations (IRR) was published in August 9 this year. “Feedback from our consultations made in Cagayan de Oro, Cebu and Metro Manila was positive. Stakeholders welcomed the law because we now have an association that would regulate the registration, licensure and practice of real estate service,” Ong relates. In compliance with the RESA law’s grandfather clause of section 20, the PRB-RES and the PRC shall register real estate brokers, appraisers and consultants in active practice until July 30, 2011 even without them taking the prescribed examination. This is provided that on the effectivity of the law, they are already licensed with the Department of Trade Industry. However, those without a license need to take the examinations by the PRB-RES on February 6 to 7 next year. “The law also covers real estate assessors, assistant assessors

assistant assessors and appraisers in government,” Ong clarifies. “I expect to license a total of 40,000 up to July 30 next year under the grandfather clause. But we’ll be happy if we can register at least 25,000.” Ong is optimistic the RESA law will be effectively implemented with the cooperation of the private and public sectors. He says the Board, composed of a chairperson and four members, shall adopt a national Code of Ethics and Responsibilities issued by the accredited and integrated professional organization (AIPO) to be strictly observed by all licensed real estate service practitioners. The PRC, in tandem with the Department of Justice, National Bureau of Investigation and the courts will implement the law. Any violation of the law and its IRR shall be penalized with P100,000.00 or two-year imprisonment or both upon the discretion of the court. – LG

121 | Real Estate World

The PHILIPPINE REIT By Senator Edgardo J. Angara

to the pre-need industry’s major stumbling blocks. Its aims are two-fold: protect the planholders and at the same time keep the pre-need industry viable. Finally, we passed the Real Estate Investment Trust (REIT) law (RA 9856), a structural reform that can inject liquidity and stability into the property market by allowing real estate owners to register incomegenerating property in the stock exchange market. It seeks to broaden the participation of Filipinos in ownership of real The financial turmoil that gripped the global economy estate in the country, and to use – unparalleled by any past financial crisis since the Great the capital market as an instrument to help finance and Depression – emphasizes the value of a strong capital develop infrastructure projects. market as a safeguard against booms and busts in the system. During the 14th Congress, the Senate took the initiative Key features of REIT REIT was introduced in the United States during in enacting badly needed reforms in our financial system which would build up financial capacity and expand the the 1960s. REIT invests in income-producing real estate capital market, allowing the Philippines to deal with the assets like apartments, office buildings, warehouses, and the like. It allows the direct returns of real estate in a financial crisis on its own terms. We reformed the Philippine Deposit Insurance securitized form by providing a structure for real estate Corporation (PDIC) charter (RA 9576) to expand and investments similar to how mutual funds manage stock extend its protection to bank depositors, providing wider investments. The introduction of REITs is expected to facilitate deposit insurance coverage. The Credit Information System Act (RA9510), more foreign direct investments in the country. It allows meanwhile, seeks to improve the overall availability for cross-border investments that will encourage strategic of credit especially to micro, small and medium-scale foreign investments in the capital market. Successes of enterprises. It will make credit more cost-effective and REITs in Australia, Hong Kong, Japan and Singapore reduce excessive dependence on collaterals to secure have encouraged more investors in REITs. This possible increase in real estate investments will surely lead to credit facilities. We also created the Personal Equity And Retirement better resort and hotel infrastructure, liquidity, and Account (PERA) (RA 9505), a supplementary private market stability. REITs also provide a steady stream of income for retirement plan for all public and private employees that investors and the national government. Even as REITs are especially targets overseas Filipino workers (OFWs). By attracting voluntary long-term savings, it will promote exempted from corporate income taxes, the firms must in turn distribute 90% of their net income, which may be capital market development. The Pre-Need Code (RA 9829) provides the much- taxable in the hands of investors. So, on the whole, the needed regulatory framework and institutional solution government is a net gainer. 122 | Real Estate World

REIT also levels the playing field for property actors by allowing both small and large investors the opportunity to participate directly in the ownership and financing of large-scale real, estate projects at affordable rates of investment. Contrary to traditional real estate ownership, REIT eliminates the disadvantages of illiquidity, high transaction and management costs. Further, investors also enjoy the assurance of a fair, transparent and efficient market for buying and selling the REIT securities, because the REIT law will require the listing of the REIT stocks in the local stock exchange. Therefore, it is easier to buy or sell the REIT shares than to directly buy and sell real properties. Lastly, investment risks are minimized, because the REIT assets are managed professionally by an independent fund manager and property manager.

Bright prospects for Asian REITs

The US remains the largest REIT market in the world at the end of 2009. Japan started introducing REITs into its market as early as 2001, which spurred the introduction of REITs to other developed countries in Asia like South Korea, Hong Kong, Taiwan, and Singapore. Malaysia and Thailand then followed in 2003 with their respective REIT offerings. The market capitalization of REITs in Asia posted a 34.5% year-on-year growth at the end of 2009, with Japan being the biggest market at USD29.5 billion at the end of 2009 (CBRE, 2010). In the whole of Asia, the market capitalization of Real Estate Investment Trusts (REIT) total at least US$50 billion. Ernst and Youngâ&#x20AC;&#x2122;s Global REIT Report 2010 says Real Investment Trusts (REIT) are leading the recovery of property markets from the global financial crisis. REIT markets across the globe have registered positive rates of return for 2009. The Global REIT Report 2010 report also highlighted the fact that Asian markets have outperformed other REIT markets in the world. The rates of return for South Korea, Malaysia and Hong Kong were all in positive territory over the last three years. And while Singapore has registered a negative 4.2 rate of return during the financial crisis, it has now strongly bounced back. Financial experts predict this upturn will continue for the next three to four years, and the number of REITs in Asia could more than double. Due to the recent credit crunch, investors are now more risk-averse, favoring

safer instruments such as REITs. The timing for REITs in the Philippines has never been as favorable as now. The influx of remittances from Overseas Filipino Workers, the boom of tourism, and the growing number of offshoring businesses in the country all contribute to the strong real estate industry we have today. In the fourth quarter of 2006, real property sector had a 22.7% growth, making it the highest growing subsector within the services Moreover, our economy is poised for a financial rebound supported by improved business optimism and investor confidence. Multilateral organizations and global think tanks have forecast better GDP numbers for the local economy. Finally, our stock market has catered to a single product since the year it was established with the exception of a few variants that have come and go based on the local marketâ&#x20AC;&#x2122;s appetite. Having said this, there is room for the stock market to grow through REITs which are expected to boost trading activity in the stock market. The benefits brought on by REITs come from practically all sides. It provides real estate companies with an alternative medium to raise needed funds for their expansion and other projects. Likewise, it adds to the menu of alternative instruments investors can choose from. With the public actively trading REIT shares, our market liquidity should improve. Last May, the Implementing Rules and Regulations (IRR) of REIT was approved by the Securities and Exchange Commission (SEC). Some of the tax incentives enjoyed by REITs include a reduction in the documentary stamp tax, deduction of dividend payments from gross earnings to determine the income tax, and a lower creditable withholding tax. Several companies have already unveiled plans to avail of REITs to raise capital for real property ventures. SM Prime Holdings Inc., intends to raise US$600 million while Ayala Land Inc. US$300 to US$400 million. Other property developers, such as Shang Properties and JG Summit, have also announced interest in joining the REIT bandwagon. These developments show the bright future of REITs, and the strategic investments it will attract. REIT will allow the country to participate in the property investment market, facilitate more foreign direct investments in the country, as well as cushion and serve as a safe haven in our capital market against the repercussions of a global financial crisis. 123 | Real Estate World

124 | Real Estate World

125 | Real Estate World

G G

rand Monaco Estate Developers, Inc. (GMEDI) was established November 5, 2003Estate primarily to serve the rand Monaco Developers, Inc.Subdivision (GMEDI)and wasHousing established development industry. It made its affordable November 5, 2003 primarily to focus serve of thedeveloping Subdivision and Housing quality homes within the metropolis as itsitspilot areas and subsequently development industry. It made focus of developing affordabl moving on to the outskirt of Metro Manila and is also setting its sights to quality homes within the metropolis as its pilot areas and subsequently the Regional where housing andManila subdivision aresetting very much in to moving on Chapter to the outskirt of Metro and islots also its sights demand. the Regional Chapter where housing and subdivision lots are very much in

demand.

Our service goes beyond the traditional approaches as we do cater in one package, our way of innovating in this time of great change. We Our service goes beyond the traditional approaches as we do cater in have our hands full in every step of the way, starting from Concept, one package, our way of innovating in this time of great change. W Design, Construction, Titling and Surveying, Financing, Advertising and have our hands full in every step of the way, starting from Concept Marketing.

Design, Construction, Titling and Surveying, Financing, Advertising and Marketing. Aside from being part of the Real Estate Organization Chamber of

Real Estate & Builders Association (CREBA), National Real Estate Aside fromInc. being partwhich of the RealusEstate Organization Chamber o Association, (NREA) earned the ins and out of the industry, Real Estate & Builders Association (CREBA), National we have established ties with the Banking Institution, HDMF Real whichEstat Association, (NREA) which earned usassist the insour andHomebuyers out of the industry provides us theInc. funding support and in turn in we housing have established ties In-house with thefinancing Bankingprogram Institution, their loans and our couldHDMF likewisewhic us the funding support andBuyer in turn assistneed ourone. Homebuyers i beprovides readily assumed as an option for the if they

126 | Real Estate World

their housing loans and our In-house financing program could likewis be readily assumed as an option for the Buyer if they need one.

ur approach to selling our units goes beyond the ordinary, we have our pool of accredited brokers mostly meeting beyond expectation, as they are continuously backed by our promotional strategies of putting our sales exhibit at the Malls, Billboard at strategic locations, saturation in almost all the 4 km. radius of the Project Site, leaďŹ&#x201A;eting, mobile advertising, Open House activities and to tap the emerging markets; the Overseas Filipino Workers (OFWâ&#x20AC;&#x2122;s), we have our own website to cater those in the International sectors.

While we continuously striving to pool our real estate resources through buying lots, participation in auction selling (SPAV) and the partnership with idle lot owners, we do give emphasis and priorities to lot owners of idle lots, forming to a Joint Venture partnership with a goal of transforming their properties into a more productive endeavor by introducing housing improvement for sale to the public and proceeds shall be shared fairly according to inputs.

What contributes to our housing inventories are mostly coming from this sector, that most of our effort is geared toward this end. Interestingly, we have so far about 1,000 units lined up activities for the next ďŹ ve (5) years inventories and still counting as more and more idle lots are awaiting to be tilled to its maximum potentials to be offered as part of the solutions in the Housing backlog and to Nation Building in general.

ur people remains the most important resource, most of these loyal people stayed since the inception of the company, all dedicated, willing and able to render quality service to meet customer satisfaction. And because the company realizes the ever changing needs of our customer, we continuously keep our people abreast with the changing times by giving them the appropriate training and dedication to hone their skills (MBA Degree, In Service Trainings, Convention and Symposium, Seminars, Team Building Activities, Fellowship Activities, Supervisory Skills Development and among others) these form our core competencies in delivering efďŹ cient services for our ever increasing roster of clienteles.

Today, Grand Monaco Estate Developers, Inc. continuous to enjoy the patronage of new and repeat clients who look for the time-tested performance of delivering our projects on time, within budget and within quality. We likewise proud of our ďŹ&#x201A;exibility and adaptability according to the needs of our clients and these provide us the synergy of meeting customer satisfaction.

59 | REAL ESTATE WORLD 59 | REAL ESTATE WORLD CondoCentral | 31 CondoCentral | 31

Diploma in Real Estate Management: Setting the Benchmark for the Industry The Real Estate Service Act of the Philippines or RA 9646 formally puts the industry to task towards the issue on professionalization, elevating the status of practitioners to the level of doctors, lawyers, engineers and other licensed professions. In addition, there are various parallel efforts to benchmark the industry against international best practices. One of these is the conduct of a post-baccalaureate diploma program in Real Estate Management, a joint undertaking of the Chamber of Real Estate and Builders Association, Inc. (CREBA) and De La Salle College of Saint Benilde. “This diploma program is CREBA’s response to the palpable need to provide continuing education of the practitioners and professionalize the industry,” says Tetchie Bautista, program architect and President of the CREBA Social Housing Foundation, Bautista notes that prior to the said program which was a brainchild of CREBA, there were just seminars on various aspects of the industry. Prof. Popoy Magno, the overall program director, notes that there is more to the industry than just selling. The diploma program has six modules: overview of the real estate industry and practice; real estate laws and regulations; environmental planning; appraisal and property management, real estate planning and development; and real estate financing and investments. “Our wide network of contacts leads us to highly qualified individuals who happen to share our passion for developing the industry through continuing education of the practitioners,” says Magno. Many of the lecturers in the program are high-ranking government officials who have academic and practical qualifications to teach.

132 | Real Estate World

A testament to the effective design and implementation of the program is its seven year-record in attracting different professionals, including architects, lawyers, environmental planners, and therapists, to name a few. Since 2002, there had been over 1,500 participants, many of whom have made a fortune in real estate. already, says Magno. With the RESA in place, Bautista and Magno point out that the role of education is now re-emphasized to help spur the further development of the real estate industry. - RJA

legal

Demystifying Real Estate Mortgage Atty. MAy Ann RosAles

ortgage, or using your property as collateral for a loan, is generally perceived as a harrowing experience for property buyers/owners unable to sustain their capacity to pay during the loan period. Although this deters some from obtaining a loan, many still persist in mortgaging properties to buy certain things short of winning the lottery to enable them to buy these things in outright cash. However, mortgaging your property can still be manageable, so long as the terms of the mortgage are realistic and you are constantly aware of your rights and obligations under your mortgage. You can mortgage any real property you own (or which you are legally authorized to dispose of; this is relevant in relation to the mortgage of certain properties which require marital consent) and real rights upon such real property to secure the performance of your obligation or that of another, i.e. payment of a sum of money. The mortgage of a real property includes its improvements, insurance proceeds, as well as growing fruits not yet gathered and rent not yet received when the obligation becomes due.

Moving house is such a big event it polarizes activities and resets schedules. Things can move so fast and unexpectedly that you would not know what hit you. But it is exciting and exhilarating.

134 | Real Estate World

To be validly constituted, the mortgage must be registered with the Registry of Deeds where your property is located, but an unregistered mortgage is still binding between you (mortgagor) and the other party (mortgagee), but the latter has no other right but to ask for the registration of the mortgage. You retain title, possession, and use of your mortgage property, so you could transfer the property to another, but where the obligation becomes due and there is no payment or performance, the property may be sold in accordance with the procedure prescribed by law to answer for the payment of such obligation, regardless of who the possessor may be. Keep in mind that a stipulation in your mortgage contract authorizing the mortgagee to automatically appropriate the property as his own upon nonfulďŹ llment of the obligation (pactum commisorium) is not allowed. The mortgage may be foreclosed judicially or extrajudicially. Extrajudicial foreclosure may be resorted to only if there is a stipulation in the mortgage contract appointing the mortgagee as attorney-in-fact to sell the property at public auction upon non-fulďŹ llment of the obligation. In any case, you still have the chance to re-acquire the property by paying the value of the title which may have passed under the mortgage within a certain period.

136 | Real Estate World

36 | REAL ESTATE WORLD

Shanghai World Expo 2010:

A Showcase of Architectural Marvels

he Shanghai World Expo 2010 offers a view to some of the world's modernday architectural marvels. These serve as important attractions to Shanghai City's comprehensive makeover as part of the Expo preparations that also included new hotels, sky towers, residential buildings, and extended train systems.

Green urban development is the target message of most pavilion designs. The London Case Pavilion is full of environment-friendly elements. It has “wind caps” which turn with the wind, continuously sending fresh air into each of the rooms. It also uses solar energy and water from the nearby Huangpu River to save energy in heating. The walls are heat-proof and covered by special fluorescent paints that seem to emit fluorescence at night from the solar energy stored up at daytime. As a result minimal lights are used inside. Saudi Arabia’s “Moon Boat”, on the other hand, resembles a treasure bowl in Chinese ancient culture symbolizing prosperity and good luck. The roof of the pavilion features a hanging garden, epitomizing the oases of the desert. China’s 63-meter tall “Crown of the East”, the red inverted pyramid, has interlocking wooden brackets. Architect He Jingtang of the 2008 Beijing Olympics was commissioned for this structure. Huge vase-like canopies in the main walkway collect rainwater used for the gardens and solar energy to power the night lighting. The corporate pavilion of China’s State Grip includes an underground high-tech electrical station display that generates electricity for the entire Puxi site. The huge pavilion was by Zhao Xiaoyun, senior designer of the “Water Cube” National Aquatics Centre used in the Beijing Olympics. The Philippine Pavilion, that features the hands of a “Performing City”, is a 2,000-square meter block by Ed Calma. The exterior is made of transparent materials that swing with the wind and show different visual effects. Green urban development is the target message of most pavilion designs. The London Case Pavilion is full of environment-friendly elements. It has “wind caps” which turn with the wind, continuously sending fresh air into each of the rooms. It also uses solar energy and water from the nearby Huangpu River to save energy in heating. The walls are heat-proof and covered by special fluorescent paints that seem to emit fluorescence at night from the solar energy

stored up at daytime. As a result minimal lights are used inside. Saudi Arabia’s “Moon Boat”, on the other hand, resembles a treasure bowl in Chinese ancient culture symbolizing prosperity and good luck. The roof of the pavilion features a hanging garden, epitomizing the oases of the desert. China’s 63-meter tall “Crown of the East”, the red inverted pyramid, has interlocking wooden brackets. Architect He Jingtang of the 2008 Beijing Olympics was commissioned for this structure. Huge vase-like canopies in the main walkway collect rainwater used for the gardens and solar energy to power the night lighting. The corporate pavilion of China’s State Grip includes an underground high-tech electrical station display that generates electricity for the entire Puxi site. The huge pavilion was by Zhao Xiaoyun, senior designer of the “Water Cube” National Aquatics Centre used in the Beijing Olympics. The Philippine Pavilion, that features the hands of a “Performing City”, is a 2,000-square meter block by Ed Calma. The exterior is made of transparent materials that swing with the wind and show different visual effects. Meanwhile, Norman Foster was responsible for the United Arab Emirates Pavilion with goldtinted, stainless steel design and sand dune. The 3,500- square meter building will be transported back to the UAE where it will serve as a community facility. After the six-month Expo ends on October 31, 2010, the country pavilions will be dismantled, except for the permanent structures like the China Pavilion, Expo Centre, Performance Centre and Theme Pavilion. The Performance Centre, a UFO-shaped building, will be renamed the Mercedes Benz Arena.The 18,000-seat venue will become the new China home for the USA’s National Basketball Association. The 528-hectare Shanghai Expo area will then become a mixed-use district, and Chinese developers will be busy transforming this historical spot into something commercial this time. – Emma Zamora-Mijares.

BUDJI PROFILE The third of eight children in a Filipino furniture manufacturing family, international designer of furniture and interiors Antonio “Budji” Layug studied at the New York School of Interior Design.Budji then spent seven years traveling the world, expanding his understanding of foreign “Green designs do culture, not have art and design. to involve green technologies,

space orientation and natural lights

Upon his return to the Philippines, Budji began to explore his native country’s landscape as vigorously as can already provide sustainable he had explored the European and American continents. One day on a beach in the mid-seventies, while solutions,” he maintains. watching two men build a traditional bamboo outrigger canoe, the seeds for a new venture were sown. Fascinated by their skill and their use of native materials, Budji began to design furniture that Known to draw inspiration incorporated traditional techniques and indigenous organic materials such as pandan, bamboo from natural materials, Layugand adds Philippine hardwoods to create sleek, elegant and thoroughly post-colonial pieces. Budji’s extensive that while there are equally good travel in the Philippines and abroad gave him an unusually wide range of aesthetics and experiences to materials other than bamboo, select from and soon his overriding passion would become clear: the harmony of nature brought indoors the same would be increasingly to create beautiful, peaceful living spaces.

preferred because it is the most the sense same ofwould Budji’s background as space planner/interior designer has given him aeco-friendly. highly developed interiorbe preferredfrom because it is and exterior space, and he insists that each design fit into both. … “A increasingly total design approach exterior the most eco-friendly. to interior is essential to creating a style that will endure the passage of time,” This includes home The two however feel that the furnishings and furniture designs that complement the space. local industry still has to mature, with Budji’s reputation as an extraordinary international interior designer stems holistic approach Layug from citinghisthat interior designto in design. In the homes that he has designed in recent years he combines of the art technologies and thestate country is confined to just interior his own contemporary furniture designs with an eclectic mix of art and antiques from all over the world. decoration. Not surprisingly, we Each of his spaces speaks volumes about the relationship between indoor and outdoor spaces; under have buildings where the interior is his direction the +garden and the home become one. “I like to live with what is outside by bringing it into out of sync with the structure of the the living space.” building and the landscaping, because interior designers are engaged only and His fame as a furniture designer has largely resulted from his commitment to organic forms and when a building of hasthose beenforms completed, materials, especially those found in his native Philippines, and his fresh interpretation into explains. uniquely modern designs. In designing furniture, Budji is as devoted tohecraftsmanship and detailing as he

Budji Royal equals Distinctively Conveniently

Filipino

is to function and basic design.

household name in interior design both locally and internationally, Budji Layug with his partner Architect Royal Pineda have produced avant garde creations that highlight what is essential, organic, tropical, and modern – a trademark from their vast global exposure and passion to create things that are distinctively and conveniently Pinoy. “It is by understanding your experiences that you get inspiration and find solutions in creating avant garde designs,” notes Pineda. “We not follow trends; we set standards that eventually become trends because they have been proven to work and make our clients feel good,” says Pineda. Pineda adds that standards should not be static but should respond to what is happening around us. One major development has been the growing awareness of the people about climate change and the environment.

But while going green is the trend, Pineda says that theirs is an organic design that remains distinctively and suitably Filipino. 140 | Real Estate World

“Continuity and unanimity in the design of

a buildingPROFILE and the space inside and outside of it ROYAL

“We draw inspiration from our experiences and surroundings. We look into it and feel it,” says Layug.

entails Amarrying interior design and architecture product and from a family of academes, Philippine licensed Architect to maximize intended ambience feel offorScience the place,” says Pineda. Royal Christopherthe Lopez Pineda completed hisand Bachelor in Architecture

at Polytechnic University of the Philippines under the Japan-Philippines cooperation university mentions program. that He while acquired his designers professionalin training and Layug likewise many the country are exposure from years 1997 to 2002 under the firm of the Philippine’s National Artist talented, only few are really good. “Many of our designers have limited for Architecture Leandro V. Locsin, Partners. Exposed to designing challenging and edifice structures commissioned to the limited firm, Arch.ideas Royalon Pineda gotto to acquire international exposure and thus how differentiate and learn the trade of the professional practice of the industry, both the structure of themselves and establish their identity,” he says. its Science and its Arts. Honed and developed in international design standards and Pineda points out that Filipino interior designers who are exposed professionalism and given the opportunities to be involved in his previous firm’s major projects under the administration Locsin’s partner to different design techniques ofare moremanaging adoptive to and newhis design mentor Arch. Edgardo Ledesma. Arch. Royal Pineda comprehensively worked and methodologies and thus do not fall prey to being copy cats. - RJA collaborated with his counselor and colleagues during his whole post in the company. He took pleasure being in the furnace of his career foundation during these early years. In his pursuit and vision on contributing his design approach and his own principles in architecture, he decided to merge with one of the Philippine’s best creative minds, interior and furniture designer, Budji Layug. As a major progressive career step, Arch. Royal Pineda believes that it was also time to create and bring his practice of the profession to a new and different dimension, to live and be able to do and perform the real essence of being an architect… to design, to innovate and to evolve. Now, as the architect and the managing partner at Budji Layug + Royal Pineda Design Architects. He is putting into reality his visions of creating modern and tropical creations that can truly carry the soul of the evolving Filipino designs, making it tropical and yet a global architecture. He is creating spaces and environments that addresses the present issues and solving them with the most basic and logical solutions. Making his architecture modern, monastic and tropical in style. Architect Pineda and his partnership with Budji Layug created a fortified synergy that reinforces and revitalizes the firms design dynamism. The continuous years of collaboration of both partners have defined and established the company’s integrity and approach, making it one of the most prominent proponents of Modern Tropical Design in the country and in Asia. Architect Pineda is disciplined to envision and create total design which the company is also known for. From master planning, architecture, interior design, furniture design and landscape design. With the present company Budji Layug + Royal Pineda Design Architects, he already have designed different projects in major cities like Beijing, Hong Kong, Singapore, India, Malaysia, Indonesia Australia, United states of America, France, Germany, and Thailand,

141 | Real Estate World

Real Estate Market Overview

revailing market trends point to sanguine economic prospects setting the property markets up for a medium-term uptrend. Key economic drivers are in full throttle as the macroeconomic environment manifests greater stability.

Philippine Economic Overview 1997 vs. 2008 Crisis vis-Ă -vis Property Market

In a recent presentation, Lindsay John Orr, Chief Operating Officer of Jones Lang La Salle, notes that the price environment remains benign with the rate of inflation projected to hit four percent to 4.5 percent by end-2010, thanks to the continued decline in interest rates.

Philippine Economic Overview Economic Indicators as of June 2010

he indefatigably strong performance of the business process outsourcing (BPO) and overseas foreign workers (OFWs) have yielded desirable labor market outcomes with unemployment rate in July standing at 6.9 percent from April's eight percent. In the first half of 2010, 142 | Real Estate World

"OFW remittances already reached $9.1 billion, while exports proved to be well on its way to recovering lost grounds as it expanded 37.4% in the first seven months of 2010. " Quite impressively as well, Orr adds that the BPO sustains its sharp uptrend, with the Business Processing Association of the Philippines (BPAP) expecting revenues to increase by a third this year to $9.5 billion, much higher than the 19 percent revenue increase reported last year. These positive developments fueled another staggering 7.9 percent growth in the second quarter, buoying optimism in the property market.

In contrast, the residential condominium sector has rebounded strongly during the first half of 2010. Sales of new residential projects surged while rental rates and capital values have also recovered.

According to Orr, rental rates have declined by 25 percent, largely a result of competing supply from all districts, but they have now stabilized and are anticipated to increase in the medium-term as the economy exhibits signs of continued recovery.

Condominium living has gained prominence, with approximately 46,000 units expected to be completed in Metro Manila, reflecting the growing demand from CBDbased workers, expatriates, and OFWs. In the retail sector, consolidated stock has reached 12.5 million square meters nationwide. While the bulk of the retail supply of 58% is in Metro Manila, Orr adds that majority of the future supply will come from the provinces, primarily from the country's leading metro growth centers, Cebu and Davao. - RJA While vacancy rate in the office sector stood at 12 percent, the remaining supply has been declining and is expected to lag behind demand come 2013 and 2014.demand.

143 | Real Estate World

Making flavored the Filipino way 150 | Real Estate World

Chef Jackie Laudico poses with Two Serendra team: (L-R) Ken Ong, Project Development Officer, Alveo Land; Anton Sanchez III, Sr. Project Development Manager, Alveo Land; Kats Pelaez, Marketing Head, Alveo Land; Jong Perez, Project Director, Alveo Land; Ces Donato, Sr. Marketing Associate, Alveo Land and Aries Cajucom, Sales Director, Alveo Land.

When it comes to preparing and cooking Filipino dishes, the husband –and-wife team of Chefs Rolando and Jacqueline Laudico have been known to be meticulously innovative – and successful at that. Of the two, it is Chef Jackie who has expressed a tremendous fondness for desserts, chocolates particularly, adding that chocolates are the only thing that she eats whenever she is sick. In a recent preview of the Culinary Studio that will soon to be available as a shared facility at The Meranti, the lady chef shared tips and recipes on how to make her famous chocolate truffles and pralines, the main attractions in her Patisserie Filipino at Fort Bonifacio. “I had been baking and selling yemas and cakes to my classmates since I was six years old,” says Laudico. “Chocolates have saved my life in many ways.”

Some tips on chocolates in general: • The real good chocolates melt at body temperature. If the chocolate sticks in between your teeth or palate, ten you’ve been had! • High-quality chocolates, especially pralines, are shiny and glossy. • When using alcohol as flavor, add as a last procedure so it does not dissipate when it comes in contact with heat. • Add sugar or any sweetener as it inhibits the growth of bacteria. Now for the recipes: actually, they are trade secrets, says Laudico. But her menus have combined Belgian chocolates with many indigenous fruits and herbs such as fresh and dried mangoes, ginger, barako, (a native coffee variant), calamansi, passion fruit and marzipan. All in all, she has developed 12 signature flavors in interesting shapes and can create madeto-order cakes and desserts for special occasions. CAPTION FOR THE BOX OF CHOCOLATES Life in a box of chocolates: Strawberry Champagne with pop rocks – Bronze award at the Top Food Hotel Asia (heart shape); Mango Passion Fruit with Dried Mango (heart shape); Barako (eye shape); Sugar-free Salabat (green oblong shape) organic ginger blended with white chocolate; and Calamansi with Marzipan - Swiss marzipan and white chocolate with citrus in a dark chocolate dome (round shape). 151 | Real Estate World

Penthouse for Sale Contact: +639198504468

South of Market Code: Location: Bedroom: Lot Area: Interior: Parking Slot: Price:

CODE: RS2058 Taguig City 2 bedroom 174 sqm Fully furnished 1 parking 20 M

8 Wack Wack Code: Location: Bedroom: Lot Area: Interior: Parking Slot: Price:

RS4018 Mandaluyong City 2 bedroom 301 sqm Fully furnished 3 parking 28 M

Makati Palace Hotel Code: Location: Bedroom: Lot Area: Interior: Parking Slot: Price:

CODE: RS3151 Makati City 3 bedroom 144 sqm Fully furnished 1 parking 9.5 M

Pearl of the Orient Code: Location: Bedroom: Lot Area: Interior: Parking Slot: Price:

RS3173 Manila City 3 bedroom 254 sqm Fully furnished 1 parking 30.5 M

124 | Real estate WoRld

Real estate brokers are not created equal... Condo.Com.Ph associates have the better view of local property market and client needs.

www.condo.com.ph T he C ond om i n iu m Sp e cia l i s t B U Y S e L L R e N T

We are the condo. ď&#x20AC;Š828 3333

“CREBA HOMES ON STILTS” “CREBA HOMES ON STILTS” LAUNCHED LAUNCHED by Techie Bautista, President, by P. Techie P Bautista, President CSHFI by Techie P Bautista, President

Creba Social Housing Foundation, Inc (CSHFI) Creba Social Housing Foundation, Inc (CSHFI)

In keeping with its mandate, the Creba Social Housing Foundation, Inc (CSHFI) continues to explore avenues with like research, information andSocial education, technologies and Inc housing production in support of the In keeping its mandate, the Creba Housing Foundation, (CSHFI) continues to explore government’s National Shelter program. The organization willand pursue other initiativesintosupport help support avenues like research, information and education, technologies housing production of the the Public-Private Partnership programs the currentwill administration. government’s National Shelter(PPP) program. The of organization pursue other initiatives to help support the Public-Private Partnership (PPP) programs of the current administration.

CREBA Homes – A Pioneering Socialized Housing Design CREBA Homes – A Pioneering Socialized Housing Design

E E

arlier this year, CSHFI launched program arlier this year,a CSHFI called “CREBA launched a program HOMES” employs a called which “CREBA pioneering socialized HOMES” which employshousing a design for urban poor families. pioneering socialized housing Theforproject showcases design urban poor families. the “housing on stilts” model The project showcases the which provides for model a 2-level “housing on stilts” expandable concept which provides housing for a 2-level where the living quarter is on expandable housing concept the the second level and theis ground where living quarter on level is open, for possible the second level and the ground expansion as additional living space, or for commercial or other uses.. The pilotlevel project the “CREBA Homes” is of open, for possible is located at the Ynares Village Antipolo/Baras, It was in collaboration withHomes” the Home expansion as additional living space,inorPinugay, for commercial or other Rizal. uses.. The pilotdone project of the “CREBA Development Mutual Fund (Pag-IBIG Fund) and the provincial government of Rizal, with benefi ciaries coming is located at the Ynares Village in Pinugay, Antipolo/Baras, Rizal. It was done in collaboration with the Homefrom the constituencies of Rizal Gov. Casimiro Ynarez III. Development Mutual Fund (Pag-IBIG Fund) and the provincial government of Rizal, with beneficiaries coming from the constituencies of Rizal Gov. Casimiro Ynarez III. The design not only offers for expansion, Theadditional design space not only offers it also encourages benefi ciaries additional space for expansion, to expand the benefi tsciaries of their it also encourages benefi ownership venturing small to expand thebybenefi ts ofinto their and medium enterprises. “The ownership by venturing into small anticipates opportunities anddesign medium enterprises. “The for growth and economic independence design anticipates opportunities for for the ciaries,” said Bautista. growth andbenefi economic independence for the beneficiaries,” said Bautista. The “CREBA Homes” project is headed by Engr. Porthos Almajose as Project Director. Rendering support in terms supply of materials are: isCharlie for theAlmajose joist and as slabs, Rosemarie Basa for building Theof“CREBA Homes” project headedV.byGorayeb Engr. Porthos Project Director.C.Rendering support indesign termsand technology, and Orlando S. Bongat for hardware. The Audit committee has Orlando Diaz as head and Veronica of supply of materials are: Charlie V. Gorayeb for the joist and slabs, Rosemarie C. Basa for building design andLim and Domingo De VeraS.asBongat members, in coordination with Treasurer C. Millan. technology, and Orlando for hardware. The Audit committeeTeresita has Orlando Diaz as head and Veronica Lim and Domingo De Vera as members, in coordination with Treasurer Teresita C. Millan. 156 | Real Estate World

COMMITMENT TO INFORMATION AND EDUCATION COMMITMENT TO INFORMATION AND EDUCATION

B B

ased on data from the NHA, production of housing units for the socialized housing sector totaled 48,280 2008 31,183 in 2009. This shows the extent offor thethe jobsocialized still to be housing done. The present administration asedinon dataand from the NHA, production of housing units sector totaled 48,280 has announced it willThis continue enhance housing programs to address the housing in 2008 and 31,183 that in 2009. showsortheeven extent of the its jobmass still to be done. The present administration backlog. The Foundation will be ready to respond to this challenge and opportunity as it commits to undertake has announced that it continue or even enhance its mass housing programs to address the housing data gathering and validation information on to socialized housing concerns and continues to serve as a reliable backlog. The Foundation will beof ready to respond this challenge and opportunity as it commits to undertake source of information for industry players and potential investors. These initiatives facilitate planning and decisiondata gathering and validation of information on socialized housing concerns and continues to serve as a reliable making for the sector and makeplayers available practices and experiences to derive insights and wisdom from. source of information for industry andbest potential investors. These initiatives facilitate planning and decisionThe Foundation reaches out toavailable its stakeholders and theand general public through seminars which provide making for the sector and make best practices experiences to derive insightsand anddialogues wisdom from. the forum for an open discussion on shared information and experiences. The Foundation reaches out to its stakeholders and the general public through seminars and dialogues which provide the forum for an open discussion on shared information and experiences.

Strengthening Linkages and Alliances: Strengthening Linkages and Alliances:

T T

echnical assistance has been extended by CSHFI to the local government units, as well as to the private sectorassistance involved has in socialized housing include the Community Programs on the echnical been extended by projects. CSHFI toThese the local government units, asMortgage well as to the private properties owned by Lito Panlilio and Judge Oscar Inocentes, sector involved in socialized housing projects. These include the Community Mortgage Programs on the andproperties church housing urbanand poor communities under the owned projects by Lito for Panlilio Judge Oscar Inocentes, auspices of the Archdiocese of Pasig thru Fr Ronnie Samaniego and church housing projects for urban poor communities under theand Our Lady Foundationofthru Sr thru Eva Fr Maamo andSamaniego Committeeand Chair auspices of of thePeace Archdiocese Pasig Ronnie Maceda. OurLyn Lady of Peace Foundation thru Sr Eva Maamo and Committee Chair Lyn Maceda. Alliances are being forged with other institutions like ADB, USAID, AUSAID, the Philippine Urban Consortium well government Alliances are being forged with other institutionsand likeasADB, USAID, agenciesthethatPhilippine participate in the housing and programs like HUDCC, AUSAID, Urban Consortium as well government key shelter agencies,in DENR, BIR, etc. The foundation is actively agencies that participate the housing programs like HUDCC, participating in dialogues with LGUs to help identify areas of collaboration and cooperation. It also undertakes key shelter agencies, DENR, BIR, etc. The foundation is actively actual housing production its help member-developers. participating in dialogues withthrough LGUs to identify areas of collaboration and cooperation. It also undertakes actual housing production through its member-developers.

Tele-Radyo Program Tele-Radyo Program

F F

oundation Chairman Judge Oscar A. Inocentes and Techie P. Bautista, CSHFIChairman president,Judge signed a A. memorandum agreement about a oundation Oscar Inocentes andofTechie P. Bautista, joint MMDA-CSHFI TV Program entitled “Gabay Sa Pabahay CSHFI president, signed a memorandum of agreement about a at Kapaligiran”. The program Bobbyentitled Brillante and Techie Bautista joint MMDA-CSHFI TV had Program “Gabay Sa Pabahay at as regular hosts, and former Quezon City mayor Brigido R. Simon, Jr. and Thad Kapaligiran”. The program had Bobby Brillante and Techie Bautista as Liamzon alternate It tackled issuesBrigido on socialized housing andThad updates regular hosts,asand formerhosts. Quezon City mayor R. Simon, Jr. and on itsasimplementation intackled variousissues communities. It had a phone-in portion Liamzon alternate hosts. It on socialized housing and updates where the public aired their questions directly to the hosts and answers on its implementation in various communities. It had a phone-in portionwere given the spot, senders got their answers on the next episodes. where theon public airedwhile their letter questions directly to the hosts and answers were Actual accomplishments and best practices were shown. given on the spot, while letter senders got their answers on the next episodes. Actual accomplishments and best practices were shown. Going Green - Evaluating new building technologies Going Green - Evaluating new building technologies With focus being given to technologies that are quick to respond to disaster-related situations, CSHFI continues to discover and evaluate technologies that are both that budget-friendly highly to socialized housing. It continues is currentlytoevaluating technologies Withbuilding focus being given to technologies are quick toand respond to adaptable disaster-related situations, CSHFI discover and evaluate on walling, rooﬁ ng, structural steel foundation and framework, additives on cement, climate change and environment-conscious systems. building technologies that are both budget-friendly and highly adaptable to socialized housing. It is currently evaluating technologies on

walling, roofing, structural steel foundation and framework, additives on cement, climate change and environment-conscious systems. Studies will be underway to develop a model aimed at standardizing the components of socialized housing units in order to improve efficiency reduce construction andaimed cost. Standardization be the mechanism to encourage enterprises participate Studies will beand underway to develop atime model at standardizingwill thealso components of socialized housing micro units in order to to improve in the program as suppliers. efficiency and reduce construction time and cost. Standardization will also be the mechanism to encourage micro enterprises to participate in the program as suppliers.

Sustainable funding mechanisms Urban Development and Housing Act (UDHA) of 1992 provides that real estate development projects should allocate 20% SustainableThe funding mechanisms of project cost for socialized housing. ThisAct is a(UDHA) laudable of concept that the foundation hopes to explore projects to determine ways by which The Urban Development and Housing 1992 provides that real estate development should allocate 20% this pro-poor can behousing. strengthened that results intothat more housing unitstoproduced anddetermine delivered.ways by which this of project costprovision for socialized This further is a laudable concept theactual foundation hopes explore to pro-poor provision can be strengthened further that results into more actual housing units produced and delivered. 157 | Real Estate World

OFWs fueling Vista Land’s nationwide expansion

With 80 percent of its units occupied by families of overseas Filipino workers (OFWs), Vista Land and Lifescapes, Inc., is bullish as it sets to expand its projects nationwide. Ronaldo S. Baldonado, Marketing Director of marketing arm Vista Land International, said that their projects had been selling well among OFWs for a number of reasons. “First, we have projects nationwide, particularly in Tagaytay and Cebu where many of our kababayans are looking for property,” he notes. “We also provide very flexible monthly amortizations that is a very important deciding factor to purchase. Finally, it is branding that matters to many Filipinos. We are a pioneer in the industry, having been here for the last 30 years.” Baldonado describes that a typical OFW family would set aside about 30 percent of its income for the chance to own a “dream house”. Along with education, owning a house is still a major goal of every Filipino. “This has inspired our holding firm, Vista Land and Lifescapes, Inc., to continue with our projects to help fulfill this dream,” he adds. Engineer Carlito Copino, Vice President for Operations of Vista Land International says that there is a 3.4 million housing backlog that appears to be difficult to fulfill. says. “Our company is responding by providing Filipinos with choices that suit their budget and lifestyle,” he adds. Vista Land and Lifescapes operates under five brands: Brittany that sells 110 to 180 square meter house and lot units from P9 million to P15 million; Crown Asia for 100 to 170 square meter units worth P3.5 million to P9 million; and Camella Homes for 40 to 110 square meter units worth P3.5 million and below. Communities Philippines sells Camella Homes in the provinces and condominium arm Vista Residences. Of these, Crown Asia and Camella units are favored by OFWs. “In our years of experience with dealing with OFWs, we have learned that one of their greatest fears is that of losing their jobs,” notes Baldonado. “The current global demand for Filipinos as workers is therefore a boon for the Philippine economy. Foreign employers prefer to hire Filipinos because of three qualities: clean, hard-working and hardly complains. Filipinos work for as long as needed, a culture that has its good and bad side. Anyway because of these traits, employers are the ones assuring our OFWs that they will always have a job in their companies.” - LCL

Are you too busy to attend to decorating your houses or offices during holidays? No problem. Call the Christmas Factory.

“Most of our clients these past few years have been those who are either busy or want an extra different holiday touch every year”, says Tony Boy Santos, owner and General Manager of Christmas Factory. “But they are definitely those whose tastes are sophisticated, classy and moneyed. Normally, we supply the decors which are designed by two artists supervised by Jo Santos, my partner-wife,” he explains.

hristmas Factory started producing for the domestic market and maintains a store at the corner of A. H. Lacson Ave. and F. Jhocson St. in Manila. The company’s export ventures started after it joined trade fairs and foreign buyers were attracted to their products. Its products have reached Australia, Japan, South Korea and China. Then came the global financial crisis last year that resulted to slower exports. The company had to revert to the domestic market with a different concept, that is contract decoration for clubhouses, gates of subdivisions, and personalized decors for houses, gardens and condo units.

“The most joyous and the longest holiday season Filipinos enjoy every year is Christmas” notes Santos. “One can see homes decorated for the holidays as early as September which is when the “ber” months set in. And the most prominent of these Christmas trims is Santa Claus. We capitalized on this trend and focused on making thousands of Santa designs, in addition to a few other Christmas decors all year round.” The company’s Santa Claus images are mainly made of resin and papermache. Santos makes it a point to use recycled paper for the papermache as their contribution to the environment. They try to ensure that each piece of Santa they make will have its own personality and so the facial expressions are carefully handpainted.

“My dream is to have a museum of Santa Claus. It can be a house with a garden where I can display my collection of Santa Clauses and other information about him,” says Santos.

Indeed at the Christmas Factory, it’s always Christmas the whole year through. - Emma Zamora-Mijares

AFFORDABLE CONDOMINIUM IN PRIME LOCATION The condominiums in Makati were first built three decades ago; they were designed to accomodate the growing number of Expatriates and Businessmen especially in Salcedo and Legaspi Village. The Average size of the typical two bedroom unit was 140-180 square meters, and for the three bedroom unit: 200-300 square meters with maid's room and two parking slots. During those days, condominium-living was a lifestyle for the priviledged few. When the call center and BPO industries started to arise, plus the growing number of University relocations in the Central Business District of Makati, developers started to concentrate on building affordable condominiums in prime locations. Businessmen, students, employees, those who are striving in the busy, competitive and diverse area of Makati Central Business District are now priviledged to enjoy condo-living, go to different shopping centers, parks, corporate centers and hospital in an affordable and practical terms. Here are some ongoing projects: LOCATION: Bel-Air North makati, Malugay St. DEVELOPER: Alveo Land UNIT SIZE: Starts at 31 sqm. PRICE: Starts at 3 Million PROJECTS DESCRIPTION: The LERATO is one of the projects of Alveo Land, a marketing branch of ayala for the middle income group. A total land area of 9,813sqm is alloted for this project. It is a 30 storey condominium project with retail and commercial areas, Enjoy the Brilliance, Passion, Grace and Flair of living in Ayala projects for as affordable price. LOCATION: H.V Dela Costa, Salcedo Village DEVELOPER: Cactus Realty UNIT SIZE: Starts at 22.5 sqm. PRICE: Starts at 2.1 Million PROJECTS DESCRIPTION: ONE PACIFIC PLACE is the premiere project of Cactus Realty; the same developer of the luxurious hotel in Manila: Pan Pacific Hotel. It is a 36-storey condominium with exceptional amenities, located near RCBC, makati Post Office, and Salcedo Park. Enjoy condo living and leisure at a low cost. LOCATION: Jupiter st. corner N. Garcia St., Bel-Air DEVELOPER: SM Development Corporation UNIT SIZE: Starts at 23 sqm. PRICE: Starts at 2.7 Million PROJECTS DESCRIPTION: JAZZ RESIDENCES, is one of the developments from the speeding expansion of SMDC, it is a stroll away from Gil Puyat Avenue, a condominium of complex features, with four 41-storey construction each of which has an unobstructed view of bars, making night life more exciting than ever. At JAZZ RESIDENCES, you can live the thrilling life, high above Makati. LOCATION: Washington, Corner Dela Rosa St., DEVELOPER: New San Jose Builders UNIT SIZE: Starts at 42.02 sqm. PRICE: Starts at 2.7 Million PROJECTS DESCRIPTION: VICTORIA DE MAKATI is a proud new addition to the more than 3,000 units that New San Jose Builders, Inc. has built through the years since it began seving the real estate needs of the country for more than 22 years, an all bi-level and three bedroom type condominium units, It is a 27-storey structure with enjoyable amenities.

LOCATION: Kalayaan Avenue, Makati DEVELOPER: Picar Development UNIT SIZE: Starts at 26 sqm. PRICE: Starts at 2.2 Million PROJECTS DESCRIPTION: The STRATFORD RESIDENCES sits on 3,504sqm prime property along kalayaan avenue, Makati City. The said lot was the former location of the International school manila. All in all, Picar owns 1.3 Hectares of the whole perimeter lot, which it intends to develop into high-class development site. PICAR's most luxurious highmost sought-after residential tower eclipsing other tall buildings within the country. With Breathtaking views at any angle from your unit, one would sense the taste of being on top of it all, and a feeling of pride of having a home inside it. LOCATION:

corner Dela Rosa and V.A Rufino St.(Formerly Herera St) in Legaspi Village DEVELOPER: ETON Properties UNIT SIZE: Starts at 22 sqm. PRICE: Starts at 2.3 Million PROJECTS DESCRIPTION: ETON TOWER MAKATI ia a 40-storey structure and is just few meters from Ayala, it is envisioned to be a Vertical Community with a mix of Executive Residences and SOHO (Small Office-Home Office) units, plus a 2 level retail and mall at the ground floor that will feature shopping and dining option for residents, tenants and neighboring buildings. Indeed, it gives you a COMPLETE living package in the heart of Makati. It is the ONLY residential condominium directly connected to elevated walkway directly to Greenbelt and Ayala Center.

Imagine the comfort and prestige of condo-living from different renowned and credible developers in the Philippines, with almost everything you need and want within your reach, at the most affordable prices and practical terms.

FOR MORE QUESTINS REGARDING THESE PROJECTS AND MORE PLAESE CONTACTS:

Rene Isidro

(+63) 917-433-6484 onerenne@gmail.com

137 | Real estate WoRld 137 | Real estate WoRld

126 126| Real | Realestate estateWoRld WoRld 126 126| Real | Realestate estateWoRld WoRld

127 | Real estate WoRld

128 | Real estate WoRld

TAGUIG CITY

FOR SALE :

Code: RS4023 One Mckinley Place 6-Bedroom 670 Square Meter Unfurnished 4- Parking Slot Php 135 M

Code: RS3146 Essensa 3-Bedroom 580 Square Meter Semi Furnished 6-Parking Slot Php 80 M

Code: RS3112 Bellagio 1 3-Bedroom 303 Square Meter Unfurnished 3-Parking Slot Php 45 M

MAKATI CITY

MANILA

FOR SALE :

Code: RS3188 Residences Greenbelt 3- Bedroom 181 Square Meter Unfurnished 3- Parking Slot Php 36 M

Code: RS5011 Renaissance 2000 4- Bedroom 412 Square Meter Unfurnished 2- Parking Slot Php 35 M

Code: RS3173 Pearl of the Orient 3- Bedroom 254 Square Meter Unfurnished 1- Parking Slot Php 30.5 M

MANDALUYONG CITY

MAKATI CITY

TAGUIG CITY

FOR SALE :

Code: RS4018 8 Wack Wack Penthouse 301 Square Meter Fully Furnished 3- Parking Slot Php 28 M

Code: RS3014 Residences Greenbelt 3- Bedroom 141 Square Meter Semi Furnished 2- Parking Slot Php 28 M

Code: RS2312 Essensa 2- Bedroom 240 Square Meter Semi Furnished 2- Parking Slot Php 27 M

TAGUIG CITY

MAKATI CITY

TAGUIG CITY

FOR SALE :

Code: RS3051 Serendra, One 3- Bedroom 188 Square Meter Semi Furnished 2- Parking Slot Php 25.5 M

Code: RS2104 Shang Grand Tower 2- Bedroom 132 Square Meter Fully Furnished 2- Parking Slot Php 25 M

Code: RS3180 One Mckinley Place 3- Bedroom 186 Square Meter Unfurnished 2-Parking Slot Php 23 M

TAGUIG CITY

MAKATI CITY

FOR SALE :

Code: RS3182 One Mckinley Place 3- Bedroom 186 Square Meter Semi Furnished 2- Parking Slot Php 23 M

Code: RS2268 Residences Greenbelt 2- Bedroom 126 Square Meter Fully Furnished 2- Parking Slot Php 23 M

Code: RS2223 Manansala Tower 2- Bedroom 143 Square Meter Fully Furnished 2- Parking Slot Php 22 M

For more listing please log in to www.brokerhouse.com.ph or Call Tel no:(632) 828-3333 Cell no:+63918 828-3333

TAGUIG CITY

MAKATI CITY

FOR RENT :

FOR RENT:

Code: RN3212 Essensa 3-Bedroom 290 Square Meter Semi Furnished 2- Parking Slot Php 250 K

Code: RN5002 Pacific Plaza Towers 4-Bedroom 303 Square Meter Fully Furnished Verify-Parking Slot Php 220 K

Code: RN3065 Shang Grand Tower 3-Bedroom 237 Square Meter Fully Furnished 1-Parking Slot Php 200 K

MAKATI CITY

TAGUIG CITY

FOR RENT :

Code: RN3142 Shang Grand Tower 3- Bedroom 237 Square Meter Semi Furnished 1- Parking Slot Php 180 K

Code: RN3166 Residences Greenbelt 3- Bedroom 141 Square Meter Semi Furnished 2- Parking Slot Php 180 K

Code: RN3211 Essensa 3- Bedroom 290 Square Meter Semi Furnished 2- Parking Slot Php 180 K

MANDALUYONG CITY

PASIG CITY

MAKATI CITY

FOR RENT :

Code: RN3227 St. Francis 3- Bedroom 159 Square Meter Fully Furnished 1- Parking Slot Php 170 K

Code: RN3002 Malayan Plaza 3- Bedroom 166 Square Meter Fully Furnished 1- Parking Slot Php 160 K

Code: RN3117 Pacific Plaza Ayala 3- Bedroom 285 Square Meter Fully Furnished 2- Parking Slot Php 160 K

TAGUIG CITY

PASIG CITY

FOR RENT :

Code: RN3024 Forbeswood Heights 3- Bedroom 155 Square Meter Fully Furnished 1- Parking Slot Php 150 K

Code: RN3066 One Mckinley Place 3- Bedroom 130 Square Meter Fully Furnished 2- Parking Slot Php 150 K

Code: RN5013 Renaissance 2000 4- Bedroom 412 Square Meter Unfurnished 2-Parking Slot Php 140 K

MAKATI CITY

FOR RENT :

Code: RN5013 Amorsolo Tower 2- Bedroom 152 Square Meter Fully Furnished 2- Parking Slot Php 140 K

Code: RN3239 Hidalgo Place 3- Bedroom 198 Square Meter Semi Furnished 2- Parking Slot Php 135 K

Code: RN2157 Four Seasons 2- Bedroom 170 Square Meter Fully Furnished 2- Parking Slot Php 133 K

For more listing please log in to www.brokerhouse.com.ph or Call Tel no:(632) 828-3333 Cell no:+63918 828-3333

131 | Real estate WoRld

132 | Real estate WoRld

133 | Real estate WoRld

134 | Real estate WoRld

135 | Real estate WoRld

SITE 1

COMBINED TWO CORNER LOTS WITH TOTAL LOT AREA OF 3,286 SQMS. EACH LOT HAS 1,643 SQMS. BOUNDED BY 3 ROADS ; SITUATED IN A BLOCK RIGHT NEXT TO THE BLOCK WHERE THE SITE 6-STAR1SHANGRI-LA COMBINED TWO CORNER LOTS WITH TOTAL LOT AR HOTEL IS BEING CONSTRUCTED, OF 3,286 SQMS. LOT HAS 1,643 SQMS. WITHIN PEZA ANDEACH E-ZONE; CATEGORIZED AS MIXED-USE, FAR; 9SITUATED YIELDING IN GROSS BOUNDED BY 3 ROADS A BLOCK RIGH FLOOR OF WHERE 29,574 SQMS; NEXT TOAREA THE (GFA) BLOCK THE 6-STAR SHANGRI-

HOTEL IS BEING CONSTRUCTED, WITHIN PEZA AND E-ZONE; 2 CATEGORIZEDSITE AS MIXED-USE, FAR 9 YIELDING GRO COMBINED TWO LOTS WITH TOTAL LOT AREA OF 5,123 FLOOR AREA (GFA) OF 29,574 SQMS; SQMS; LOT 1 WITH 2,305 SQMS AND LOT 2 WITH 2,818 SQMS

BOUNDED BY 3 ROADS, NEAR TO SERENDRA, BONI HIGH STREET 2 12 YIELDING CATEGORIZED AS MIXED-USE AND SITE HAS FAR A GROSS FLOOR AREA OFWITH 61,476 TOTAL SQMS; LOT AREA OF 5,1 COMBINED TWO LOTS

SQMS; LOT 1 WITH 2,305 SQMS AND LOT 2 WITH 2,818 S BOUNDED BY 3 ROADS, For Inquiries: +639 NEAR198504468 TO SERENDRA, BONI HIGH STREET AS MIXED-USE AND HAS FAR 12 YIELD Email: CATEGORIZED daniel@brokerhouse.com.ph A GROSS FLOOR AREA OF 61,476 SQMS;

For Inquiries: +639 198504468

Get the most out of your life at Aravista Village, a prime residential development of AMA Communities Incorporated, located in General Trias, Cavite. More than just a new home, it's a whole new lifestlye: enjoy a safe and secure neighborhood with 24/7 security in an exclusive environment, uninterrupted water supply, a wellmaintained park where you can relax and enjoy nature togeteher with your family. You can find a church, school, and a sports and recreation center conveniently located inside Aravista Village. A complete village amenities that make life better for you and your family. Live in a connected world. The whole 50-hectare development is wi-fi enabled -- the first in the country. At AMA Communities, we make the good life you can afford.