By Denise A. Valdez
LOCAL real estate developers are seen to forge deals with foreign players in the upcoming 71st World Real Estate Congress by the Federacion Internationale des Adminstrateurs de Biens Conceils et Immobiliers (FIABCI).
Happening for the first time in the Philippines, the event will gather real estate experts in a five-day series of lectures and networking opportunities which the organizers expect will result in fresh investments in the country.
“It is very significant for the Philippines (to host the event) because we want to showcase the real estate industry in the Philippines, which has been (growing) for the last 20 years — probably the longest surge in real estate in the world,” FIABCI-Philippines President Nestor S. Mangio said in a media launch Tuesday.
“Normally, real estate is a roller coaster. It goes (up and down every) seven years. But here, we’ve experienced an upswing for the last 20 years. So we’ve invited these property developers, hopefully to also invest in our country and also to have more tourists come to our country and see our beautiful local destinations,” he added.
FIABCI is a Paris-based organization of real estate professionals with presence in 72 countries from five continents. It holds an annual congress in different countries each year to discuss the latest trends in the real estate industry.
For this year, the congress will focus on “urban revolution” to tackle the latest challenges for property developers such as air pollution, natural calamities, urban migration and infrastructure availability.
“Cities and urban centers should be responsive to the needs of the changing times… They should be smart, which means adoption of new and future technologies which can make our cities and urban centers safer, cleaner, healthier and easier to maintain,” Mr. Mangio said.
As the event aims to gather property developers and real estate practitioners from across the globe, FIABCI expects business agreements to be born out of the conference.
“There are many inquiries abroad to partner with us because they hear that the Philippines is a good investment, especially in matters of real estate. In fact, the Ciputra Group of Indonesia, we’ll be introducing to Manny Villar so they can talk about partnership in townships, etc.,” FIABCI-Philippines Chairman Emeritus and Founding President Florentino S. Dulalia, Jr. said in the media launch.
Mr. Dulalia is the incoming president of FIABCI World, the first time a Filipino will hold the top position in the organization.
Mr. Mangio also said there is an offer from Barcelona to develop a bullfight arena in Spain into a commercial space. FIABCI-Philippines will be matching foreign hunters like this to local property developers during the conference.
“I hope there will be businesses out of this congress,” Mr. Dulalia said.
Among the exhibitors at the event are Megaworld Corp.; Federal Land, Inc.; Robinsons Land Corp.; and Prime Homes Real Estate Development, Inc. It will be on May 26–30 this year at the Marriott Convention Center in Pasay City.