FIABCI-Philippines Hosts The 3rd FIABCI Asia Pacific Regional Secretariat Summit
FIABCI-Philippines, the Philippine Chapter of the International Real Estate Federation, brought Philippine real estate to center stage as it hosted the 3rd FIABCI ASIA PACIFIC REGIONAL SECRETARIAT SUMMIT last November 10 – 12, 2006 at the Intercontinental Manila, Makati City.
Message from the Board Chairman of FIABCI Asia Pacific Regional Secretariat for the 3rd FIABCI Asia Pacific Regional Secretariat Summit
The FIABCI Asia Pacific Regional Secretariat Summit is a biannual event for leaders and members of the chapters administered by the FIABCI Asia Pacific Regional Secretariat to meet, network and discuss issues relating to real estate industry.
I am glad that the chapters administrative by this newly formed entity are experiencing exceptional membership growth from 199 members in December 2005 to 759 members as at 31 October 2006. I would like to take this opportunity to compliment the chapter leaders for their efforts and contributions towards the FIABCI.
I must congratulate the FIABCI Philippine Chapter for their kindness to play host for the 3rd FIABCI Asia Pacific Regional Secretariat Summit to be held on Friday 10 ? Sunday 12 November 2006 at the Intercontinental Hotel, Makati City, Manila, Philippines. A very big thank you to the Organizing Committee led by Mr. Bobby Sy for their hard work, commitment and dedication to make this Summit a success and memorable event for all participants.
I am confident that the FIABCI Asia Pacific Regional Secretariat will continue to accomplish and implement positive and concrete steps in promoting FIABCI values for the benefit of members and the real estate industry.
DATO? ALAN TONG KOK MAU
FIABCI Asia Pacific Regional Secretariat
Message from the World President of FIABCI for the 3rd FIABCI Asia Pacific Regional Secretariat Summit
Dear Friends and Colleagues,
It is with great pleasure that I extend to you a heartfelt welcome to the 3rd FIABCI Asia Pacific Regional Secretariat Summit here in Manila City, Philippines.
The purpose of FIABCI is to enhance its members? ability to conduct business within the real estate industry professionally, ethically, successfully and profitability, and to improve the quality and competitiveness of member endeavors through the sharing of knowledge, information, contacts and business opportunities at the local, national and international level.
Under the leadership of Dato? Alan Tong Kok Mau, this Multi-National Chapter alliance has taken positive and concrete steps in promoting our FIABCI values, and is leading the way for FIABCI?s membership growth and expansion. Your success is motivating other regions to consider the benefits of forming Multi-National Chapters and employ the many economic advantages to the maximum benefit of all FIABCI members.
I wish you a very productive and successful FIABCI Summit!
FIABCI World President
2006 ? 2007
The summit as hosted by FIABCI-Philippines provided a new benchmark for the summit when it welcomed 62 members across 12 countries as compared to the average 30 members across 10 countries consisting of Australia, Hong Kong, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore, Taiwan, Thailand, United Kingdom and Vietnam. Not included in the count were the 7 accompanying spouses and 3 members of the FIABCI Asia Pacific Secretariat and 7members of the FIABCI Philippines Secretariat.
With some delegates arriving earlier than the scheduled summit days, FIABCI-PHILIPPINES arranged for pre-summit activities, giving FIABCI delegates a taste of the world-renowned Filipino Hospitality.
On November 8, 2006, a dinner was hosted by Belle Corporation?s Mr. Willy Ocier for Dato? Alan Tong Kok Mau at Highlands Steakhouse, SM Mall of Asia.
On the morning of November 9, 2006 (Thursday) together with FIABCI Philippines President Bobby Sy and FIABCI Australia President Philip Webb, Dato Alan Tong Kok Mau flew to Cebu in order to conduct an ocular inspection of the Mactan Shangri-la facilities for a possible APREC or World Congress. The hora mismo preparation was made possible by Ms. Daisy Kokseng of Radkosons Realty based in Cebu.
In the meantime, a Lunch buffet was hosted at the Mimosa Clubhouse on November 9, 2006 for the international delegates who arrived via the Diosdado Macapagal International airport.
On the evening of November 9, 2006 (Thursday), a Pre-summit Dinner was hosted for the international delegates by Engr. and Mrs. Benson Perelonia of Duraville Realty and Development Corporation at the Circles Café of Makati Shangri-la.
Early in the morning of November 10, 2006, 8 international delegates left for Ayala Greenfield Estates for a round of golf. The activity was headed by FIABCI Philippines Treasurer Lilia Aaron Paterro and EVP Amb. Rafael Gonzales. Also on hand were Dir. Jimmy Hernandez and James Dulalia. In photo is Lilia Aaron Paterro, flanked by 2004-2005 World President John Greig (Australia) and 2005-2006 World President Dató Alan Tong Kok Mau (Malaysia).
Simultaneously in the morning of November 10, a tour of planned unit developments within Metro Manila was conducted for the FIABCI delegates from Japan, Singapore and the United Kingdom by FIABCI Philippines President Bobby Sy, Vice-Chairman Purita Soliven and Director Editha Manansala. In photo is group having lunch at Max?s Restaurant.
Just before the official summit was to be opened at 4 pm of November 10, 2006, a group picture of the delegates to the 3rd FIABCI Asia Pacific Summit was arranged at the poolside of the Intercontinental Manila.
3rd FIABCI ASIA PACIFIC REGIONAL SECRETARIAT SUMMIT
The FIABCI Asia Pacific Regional Summit opened at exactly 4:00 pm at the Bahia Room of Intercontinental Manila, Makati City on November 10, 2006.
Secretary General Kumar Tharmalingam reported that the FIABCI Asia Pacific Regional Secretariat was officially approved at the FIABCI Ordinary and Extraordinary General Assembly held on 1st June 2005 at the Hilton Hotel of Athens, Greece. The Board of Directors comprises of Dato? Alan Tong Kok Mau who shall serve as Chairman (Director) and Mr. Kumar who shall serve as Secretary General of the Regional Board for Asia Pacific until 31 December 2008. The operation is governed by an Executive Committee of 6 members, a Board Committee of 13 members including the President of all chapters administered by the secretariat and a Taskforce Committee of 20 volunteer members.
Among the objectives of the FIABCI Asia Pacific Secretariat is to relieve the FIABCI Secretariat in Paris their responsibilities and in its place provide the administrative services currently provided by the Paris Secretariat to Chapters in Australia, India, Indonesia, Korea, Malaysia, Philippines, Singapore, Thailand, Nepal and any other chapters in the Asia Pacific region; assist the mentioned chapters and new chapters in the Asia Pacific Region in the recruitment of their regular and principal members; and function as a liaison office for FIABCI for purposes of communication with its members and the chapters that it set out to serve.
Countries in Asia include Afghanistan, Armenia, Azerbaijan, Bahrain, Bangladesh, Bhutan, Brunei, Burma (Myanmar), Cambodia, China, Georgia, Hong Kong, India, Indonesia, Iran, Iraq, Israel, Japan, Jordan, Kazakhstan, Korea, North Korea, South Kuwait, Kyrgyzstan, Laos, Lebanon, Malaysia, Maldives, Mongolia, Myanmar, Nepal, Oman, Pakistan, Philippines, Qatar, Russia, Saudi Arabia, Singapore, Sri Lanka, Syria, Taiwan, Tajikistan, Thailand, Turkey, Turkmenistan, United Arab Emirates, Uzbekistan, Vietnam and Yemen. While countries in the Pacific include Australia, New Zealand. For 2007, FIABCI Asia Pacific hopes to create chapters in India, Dubai, New Zealand, Brunei, Cambodia and Vietnam and hopes that the chapters of Japan, Chinese Taiwan and China will join the FIABCI Asia Pacific regional secretariat.
Membership growth is targeted to increase by 30% for 2007. For Australia, from 257 in 2006 to 334 by 2007; Indonesia, from 15 to 20; Korea from 69 to 90; Malaysia, from 281 to 365; Philippines, from 41 to 53; Singapore, from 18 to 23; Thailand, from 33 to 43; and Nepal, from 1 to 2.
A total of ten amendments for the FIABCI Asia Pacific Constitution by Extraordinary General Meeting was proposed and carried over during the summit.
PAG-IBIG Fund?s Atty. Romero Quimbo co-hosted with FIABCI PHILIPPINES? a traditional Filipino reception with traditional Filipino music and dance to welcome the delegates. FIABCI Philippines? Execom ? President Bobby Sy, EVP Rafael Gonzales and Treasurer Lilia Aaron Paterro arranged the reception at the Manila Polo Club last November 10, 2006 immediately after the regional secretariat summit.
Past FIABCI Philippines President Florentino Dulalia, Jr. was given the honor of welcoming the international delegates to the country in behalf of FIABCI Philippines. On the other hand, PAG-IBIG was represented by its VP E.J. Eje together with four other PAG-IBIG officers.
The Philippine?s famous Lechon was the centerpiece of the carving station and did not fail to amuse the delegates.
A cultural dance presentation highlighted the reception which involved participatory dance activities for the international delegates.
Philippine Investment Forum
With the hosting of the FIABCI ASIA PACIFIC SUMMIT in the Philippines, FIABCI-Philippines was given the chance to present the current status of the Philippine real estate industry as well as present opportunities for real estate investments in the Philippines. A Philippine Investment Forum was held the whole day on November 11, 2006 (Saturday) at the Hotel Intercontinental Manila.
Real estate investors are looking beyond their own borders and are trying to realize higher returns by taking advantage of unique opportunities which sometimes are viewed as inefficiencies in the overseas market. In evaluating the international real estate markets, it is imperative to distinguish the differences and similarities in these markets. Some make the mistake of taking their knowledge of their home real estate markets and apply it to other markets, unmindful of the fact that the laws involved and the local practices relative to real estate taxes, tenant rights, foreign ownership and income tax laws vary substantially from one country to the other which translate to risks for real estate investors.
The Philippine Investment Forum has heralded the patriotic cooperation of FIABCI-Philippines to invite foreign investors into the country. And has opened new venues for cooperation between the government agencies and FIABCI-Philippines.
The event was formally opened by the current Chairman of FIABCI Asia Pacific Dato? Alan Tong Kok Mau. Around lunchtime, FIABCI World President Owen Gwyn teleconferenced his message to the delegates of the summit. Ms. Rose Basa of principal member CREBA was given an opportunity to present her CREBA Social Housing Foundation (CSHFI) project after the video presentation of Tagaytay Highlands who was represented by Ms. Belinda Lim-Herrera.
FIABCI Philippines President Bobby Sy was tasked to present a Philippine situationer of the Philippine?s investment hotspots and growth corridors while FIABCI Philippines Chairman of the Board, Arch. Jun Palafox presented perspectives on areas for urban growth and renewal in the Philippines.
The Philippine real estate investment opportunities in the subsectors of infrastructure, eco-zone development, tourism and retirement facilities development were also presented by NEDA Director General Romulo Neri; PEZA Director General Lilia B. de Lima; PTA Chairman Robert Dean S. Barbers; PRA Chairman, Gen. Edgardo Aglipay and PRI President, Dr. Ernesto Ordonez.
In the hope that our country can learn from the experiences of neighboring countries in the retirement industry, FIABCI PHILIPPINES invited Philip Webb who talked on the Australia retirement industry; Dr. Sopon Pornchochai on the Thailand Retirement Home scheme; and Jaslyn Sim on Malaysia?s My Second Home Program, all of whom joined Gen. Aglipay and Dr. Ordonez at the session on the retirement industry.
FIABCI-PHILIPPINES also maximized its unique network privilege by accessing the experience of Malaysia and Singapore on real estate investment trusts (REIT). Mr. Kumar Tharmalingam of Hall Chadwick Asia who has tracked the REITS industry worldwide with a view to improve the financial marketability of commercial real estate in East Asia talked about REITS and foreign investment. Mr. Chia Hock Jin presented Pacific Star China?s Mr. Wong Ah Long?s paper on the impact of REITS on the property market. Mr. John Greig presented Australia?s best practices in agency business and Mr. Ho Chin Soon presented land use mapping in property development and consultancy.
FIABCI Vice-Chairman Purita Soliven was tasked to deliver the closing remarks in behalf of the association.
Program of the Philippines Investment Forum
0900 Welcome Remarks – Dato? Alan Tong Kok Mau
0920 Panorama Philippines: Hotspots and Growth Areas – Mr. Bobby Sy, FIABCI Philippines President
0940 Panorama Philippines: Postcards from the Future – Arch. Jun Palafox, FIABCI Philippines Chairman
1000 Philippine?s Infrastructure Flagship Projects For Investment – Mr. Romulo S. Neri, NEDA Director General
1040 PEZA Ecozones for Investment – Atty. Lilia B. de Lima, PEZA Director-General
1100 Tourism Projects for Investment – Mr. Robert Dean S. Barbers, PTA Chairman represented by Dr.
1120 Open Forum
Real Estate Trends and Updates
1140 Land Use Mapping for Real Estate Development and Consulting – Mr. Hoo Chin Soon, Hoo Chin Soon Research Sdn Bhd (Malaysia)
Retirement Villages: The Philippine?s Bid to capitalize on its tropical weather, medical proficiency and caring people
1315 Philippine Retirement Industry: Investment Opportunities For Real Estate Developers in the Retirement Industry – Gen. Edgardo Aglipay, PRA Chairman
1330 Philippine Retirement Industry: Philippine?s effort to jumpstart the retirement industry – Dr. Ernesto M. Ordonez, PRI President
1345 Australian Retirement Industry – Mr. Philip Webb
1400 Thailand?s Retirement Home Scheme – Dr. Sopon Pornchochai
1420 Malaysia My Second Home Program ? Ms. Jaslyn Sim
1440 Open Forum and Panel Discussion
Real Estate Investment Trusts (REITs): A potential for the Philippine property market
1515 REITS and Foreign Investment in Real Estate – Mr. Kumar Tharmalingan
1530 Impact of REITS on the Real Estate Market – Mr. Wong Ah Long
1545 Open Forum
1600 Investment Opportunities in the Gold Coast – Mr. John Greig
1620 Closing Remarks ? Ms. Purita Soliven, FIABCI Philippines Vice-Chairman
Other Summit Activities
- While the Philippine Investment Forum was ongoing, a Shopping Tour for the FIABCI Spouses was organized which was headed by Dir. Edith Manansala accompanied by Ms. Techie Bautista. The spouses were brought to the Greenhills Shopping Center and Tiendesitas.
- The delegates were ferried out via a coach bus to Eastwood City where a dinner reception was hosted by Megaworld Corporation on the night of November 11, 2006 at the Shanghai Bistro. It was also an opportunity for Megaworld to present its flagship project for possible foreign investments. Joining the FIABCI delegates was a delegation from our principal member CREBA.
- En route to the dinner reception, a windshield tour of Fort Bonifacio Global City and the Ortigas Business District was mapped out with Arch. Jun Palafox as resource person. En route back to the hotel from the dinner reception, a windshield tour of Rockwell Center was also presented by Arch. Palafox.
- On November 12, 2006 (Sunday), Belle Corporation through the courtesies of Mr. Willy Ocier welcomed eight golfers and a group of ten delegates out for some relaxation. While the golfers stuck to their golf game amidst thunder, lightning and a torrential downpour of rain, the rest were treated to a grand tour of Tagaytay Highlands from the lowland residential projects up to the midland residential projects and finally to the highlands projects, including food breaks at the clubhouse of the lowlands, midlands and highlands. The highlight of the tour was the opportunity to enter the infamous President?s Log Cabin at the Highlands. The group to Tagaytay Highlands was headed by Pres. Bobby Sy and EVP Rafael Gonzales. The golfers on the other hand was accompanied by Dir. Jimmy Hernandez.
- Another group of ten delegates opted for a shopping tour on November 12, 2006 (Sunday) instead of joining the Tagaytay Highlands escapade. Accompanied by FIABCI new members Ms. Yvonne Apad and Dr. Mary Gaw ? So, the group had a merry time shopping at Market! Market!, SM Megamall and SM Mall of Asia. More importantly, the traffic in Metro Manila was barely noticed given the highly entertaining spiels and singing initiated by Dr. Mary while en route to the malls.
- At the end of the day of November 12, 2006, the two groups (Tagaytay Highlands group and the Shopping group) met up at the Westin Philippine Plaza for buffet dinner at the Spiral Café.
FIABCI PHILIPPINES extends its grateful appreciation to its industry partners who have generously supported the event, believing in the efforts of FIABCI PHILIPPINES in bringing Philippine real estate to center stage.
- Pag-Ibig Fund for co-hosting the Welcome Reception last November 10, 2006;
- Belle Corporation for hosting a Pre-summit Dinner for Dato? Alan Tong Kok Mau on November 8, 2006 and for hosting the Golf and Tour of Tagaytay Highlands on November 12, 2006; and
- Megaworld Corporation for hosting a Farewell Dinner Reception at the Shanghai Bistro on November 11, 2006.
Special thanks also go to the following industry partners for their silver sponsorship:
- Central Country Estates, Inc.;
- Home Guaranty Corporation;
- Impyreal Corporation;
- Moldex Realty and Development Corp.;
- National Home Mortgage Fund;
- Palafox Associates
- Reina Properties Corporation;
- VV Soliven Group of Companies; and
- Duraville Realty & Development for hosting a Pre-summit Dinner at Circles Café on November 9, 2006.
And lastly to the Social Security System for their bronze sponsorship.
Concluding Remarks from the Organizing Chairman
The forum has been praised by the FIABCI Asia Pacific Secretary-General, Mr. Kumar Tharmalingam, as a good model in the conduct of the summit in the different Asia-Pacific countries.
The public sector officials in attendance as resource persons, were pleased at the effort of FIABCI Philippines in highlighting our country amongst our Asia-Pacific counterparts. The articles written by Mr. Charles Buban of the Philippine Daily Inquirer succinctly describes the intention of FIABCI PHILIPPINES in hosting the summit, that is, to make our counterparts RECONSIDER our country in real estate investment, and to a certain extent we have been successful. The immediate manifestation of the organization?s success in ?putting the Philippines into the FIABCI map?, so to speak, are the utterances of the delegates that the Philippines as they have seen it themselves was a far cry from what they thought it was, contrary to the news feeds on television. Their resolve to return with family in tow was a welcome development.
To have been able to give a positive image of the Philippines and Philippine real estate is all that FIABCI Philippines has hoped for when it took on the challenge of hosting the FIABCI Asia Pacific Summit. In this respect, the organization has not fallen short of its aspiration.
MABUHAY ANG FIABCI PHILIPPINES!
3RD FIABCI Asia Pacific Regional Summit
FIABCI Philippines President
30 November 2006