By Wilson Ng
Wired Desktop
Thursday, October 13, 2011
CONGRATULATIONS to Mr. Erramon Aboitiz for winning this year’s Ernst and Young Entrepreneur of the Year award. Finally, on its eight year, somebody from Cebu got the plum award.
I am currently attending the 37th Philippine Business Conference and for the nth time, most speakers talk about using innovation, especially for small and medium businesses, as a way to be competitive and win in the market place.
Innovation is an overused word. When I taught business, most book authors talked about innovation. When they asked what makes Steve Jobs and Apple click, they say it is innovation. When they talked about why Google or Facebook or Cisco wins in the marketplace, they say it is innovation. Even in cooking contests or music, they always say the way to win is to innovate.
Recently, US President Barack Obama launched the Small Business Jobs Act, in which he also lauded the small businesses and entrepreneurs, who will design new products, and who will create the new jobs to solve the unemployment problem. Ditto also for the
Philippine officials.
However, do SMEs really innovate? Or for that matter, do they even have the capability to do so?
A study concluded after polling many small business that this is wishful thinking.
Most people go into small business not by launching a new product or a new idea but merely by serving an existing customer or perceived need, with an existing product.
Many of them do not have any research budget and as a writer rightly pointed out, they just want to open another massage center, Internet café, or sari sari store rather than launch something untried.
In short, for every Google or Facebook, over 99 percent of the businesses are launching and continuing a struggling businesses that just want to make do or continue what they used to do before. It is simply too much to expect them to do much except survive and exist.
Most new owners started businesses because they want to be their own bosses or keep flexible working hours, not because they have a new business idea.
So the image of an entrepreneur who renders aging technologies obsolete and who takes risks to fulfill a dream is not always true.
New businesses, however, are important. People have an ever-increasing need to buy new clothes, try new restaurants or experience new services. And they do create new employment and increases jobs, which is important.
And maybe because so few people do innovate, it does make it a powerful idea and those who practice it successfully can gain a real competitive advantage.
Published in the Sun.Star Cebu newspaper on October 14, 2011.
Miyerkules, Oktubre 19, 2011
Students told: Study real estate
By Katlene O. Cacho
Tuesday, October 11, 2011
INSTEAD of taking the usual courses in college, high school students are encouraged to take the four-year degree course in Real Estate Management to take advantage of opportunities in the country’s booming real estate industry.
Philippine Association of Real Estate Boards, Inc. (Pareb) president Ariel Martinez said there will be a number of schools and universities nationwide that will start offering Bachelor of Science in Real Estate Management in the next school year.
He said this is an opportunity for the industry to get fresh and skilled graduates to join the growing real estate industry.
“Aside from taking the usual courses in college, we are hoping students to consider real estate management as a profession,” Martinez said at the sidelines of the 51st Pareb National Convention held last week at the Waterfront Cebu City Hotel and Casino.
Opportunities
He said there are opportunities in the industry with the numerous real estate developments particularly in key cities in the country today. “There are many real estate service practitioners today now making billions in the industry. If you wanted to have a job where you are the boss, then this is one profession good for you,” he said.
Pareb is the oldest and largest real estate service organization in the country founded in 1960. It is the umbrella organization of 58 local member boards nationwide with membership of almost 4,000 licensed real estate professionals.
Martinez said that apart from professionalizing the real estate service management, the course offered will also help the industry get rid of “colorum” or unlicensed real estate practitioners.
Before the Real Estate Service Act (Resa) 2009 was passed into law, real estate practitioners were handled by the Department of Trade and Industry under the Bureau of Trade Regulation and Consumer Protection.
“There was little regulation that time. The proliferation of unlicensed real estate practitioners has hindered the industry from becoming globally competitive. But with Resa coming into the picture, the profession has been uplifted,” he said.
Martinez said people who want to become a real estate service practitioner should pass the examination and get a license from the Professional Regulatory Board on Real Estate Service.
“The law is created not only to uplift the profession but also to protect the buyers and the public in real estate transactions,” he said.
Published in the Sun.Star Cebu newspaper on October 12, 2011.
Tuesday, October 11, 2011
INSTEAD of taking the usual courses in college, high school students are encouraged to take the four-year degree course in Real Estate Management to take advantage of opportunities in the country’s booming real estate industry.
Philippine Association of Real Estate Boards, Inc. (Pareb) president Ariel Martinez said there will be a number of schools and universities nationwide that will start offering Bachelor of Science in Real Estate Management in the next school year.
He said this is an opportunity for the industry to get fresh and skilled graduates to join the growing real estate industry.
“Aside from taking the usual courses in college, we are hoping students to consider real estate management as a profession,” Martinez said at the sidelines of the 51st Pareb National Convention held last week at the Waterfront Cebu City Hotel and Casino.
Opportunities
He said there are opportunities in the industry with the numerous real estate developments particularly in key cities in the country today. “There are many real estate service practitioners today now making billions in the industry. If you wanted to have a job where you are the boss, then this is one profession good for you,” he said.
Pareb is the oldest and largest real estate service organization in the country founded in 1960. It is the umbrella organization of 58 local member boards nationwide with membership of almost 4,000 licensed real estate professionals.
Martinez said that apart from professionalizing the real estate service management, the course offered will also help the industry get rid of “colorum” or unlicensed real estate practitioners.
Before the Real Estate Service Act (Resa) 2009 was passed into law, real estate practitioners were handled by the Department of Trade and Industry under the Bureau of Trade Regulation and Consumer Protection.
“There was little regulation that time. The proliferation of unlicensed real estate practitioners has hindered the industry from becoming globally competitive. But with Resa coming into the picture, the profession has been uplifted,” he said.
Martinez said people who want to become a real estate service practitioner should pass the examination and get a license from the Professional Regulatory Board on Real Estate Service.
“The law is created not only to uplift the profession but also to protect the buyers and the public in real estate transactions,” he said.
Published in the Sun.Star Cebu newspaper on October 12, 2011.
BPO company unveils building
By Katlene O. Cacho
Monday, October 10, 2011
GLOBAL outsourcing firm Aegis PeopleSupport launched yesterday its 12-storey Aegis Tower Cebu at the Asiatown I.T. Park.
Top officials said the company’s expansion in Cebu signifies their commitment to and confidence in the country’s booming business process outsourcing (BPO) industry and Cebu’s workforce.
“We are the only (BPO company) that is putting dollars on the ground, which means we are here for good,” said Aegis Limited managing director and global chief executive officer Aparup Sengupta in a press conference at the Cebu City Marriott Hotel.
Sengupta cited proximity, hospitality, excellent English communication skills and strong service culture as among Cebu’s attractive characteristics for BPO investors.
“We aim to become a $1-billion company, crossing the 60,000 mark in headcount by March 2012. The Philippine market plays a big part in helping us achieve our goals,” Sengupta said.
Commitment
Aegis invested P2 billion for the building of Aegis Tower Cebu, whose development comes in two phases.
“It’s a proof of our commitment to the Philippines and to the Filipino talent. Cebu continues to provide an extremely skilled workforce providing great affinity with the right experience for our local and international clients,” said Rajiv Ahuja, Aegis Limited president for Asean and ANZ.
Aegis has about 50, 000 employees in 50 locations in 12 countries.
In the Philippines, the firm has about 12,000 employees with other offices located in Manila and Baguio. Cebu has about 4,000 employees. Ahuja said they hope to increase the Cebu workforce by hiring 2,000 more employees with the completion of the Tower’s Phase 2.
Aegis Tower Cebu sits on a 3,300 square meter property. Apart from the being the first
company-owned BPO building, the facility also boasts of being one of the first BPO green buildings in the country.
According to the firm, the building was designed to maximize energy efficiency, using sustainable materials sourced from suppliers with environment-friendly practices.
The tower’s Phase 1 aims to become the first Gold-Level purpose-built BPO building in the Philippines, certified under the US Green Building Council’s Leadership in Energy and Environment Design (LEED) version 2.2 standard for new construction and major renovation. The Phase 2 project, which will be completed next year, also aims for the same certification under the LEED.
Liza Lamzon, Aegis PeopleSupport Inc. vice president for strategic programs, said the company will be fully integrated by the end of 2012 with the completion of its Phase 2 building. She said the firm is currently in transition, transferring manpower and resources from previous locations at e-Office and Skyrise 1.
The combined phases of the building will bring a total capacity of 8, 000 employees.
Among the tower’s amenities include a customized applicant experience center; a two-level fitness center with dance studio; a recreation center; a roof-top garden; two basements and three floors of parking spaces.
Growing faster
The global outsourcing and offshoring industry is estimated to reach $270 billion in the next five years. growing at an average of 15 percent a year, according to Aegis chief people officer S.M. Gupta.
He said the Philippines is growing faster than the global growth rate of more than 23 percent in the last 10 years. Gupta said the country has to take advantage of this growth and continue producing a large talent pool for the BPO and IT industry.
However, talent pool requirement is one of the major challenges faced by the BPO sector. Sengupta said this is one major area that needs to be addressed by the government and other private stakeholders considering that Cebu has become a preferred BPO destination.
“What if we will be hiring 1,000 employees in three months, will Cebu have the ability to produce the required number?” Sengupta said. He noted that talent pool in metro cities is slowly drying up.
Search for talent
“We are looking at either going to provinces and searching for this talent or going to these provinces and putting up establishments,” he said.
Aegis serves a spectrum of industries such as banking, financial services, insurance, telecom, healthcare, travel and hospitality, consumer goods, retail and technology.
Known for its aggressive acquisition strategy, Aegis Limited entered into a definitive merger agreement with PeopleSupport in 2008. Aegis is a wholly-owned subsidiary of the Essar Group, a $17-billion conglomerate based in Mumbai, India.
Aegis was ranked third among top BPO players in India in a recent survey by Dataquest, a leading knowledge publication. The firm is also recognized among the top four BPO companies in Nasscom’s recent annual BPO ranking this year.
Published in the Sun.Star Cebu newspaper on October 11, 2011.
Monday, October 10, 2011
GLOBAL outsourcing firm Aegis PeopleSupport launched yesterday its 12-storey Aegis Tower Cebu at the Asiatown I.T. Park.
Top officials said the company’s expansion in Cebu signifies their commitment to and confidence in the country’s booming business process outsourcing (BPO) industry and Cebu’s workforce.
“We are the only (BPO company) that is putting dollars on the ground, which means we are here for good,” said Aegis Limited managing director and global chief executive officer Aparup Sengupta in a press conference at the Cebu City Marriott Hotel.
Sengupta cited proximity, hospitality, excellent English communication skills and strong service culture as among Cebu’s attractive characteristics for BPO investors.
“We aim to become a $1-billion company, crossing the 60,000 mark in headcount by March 2012. The Philippine market plays a big part in helping us achieve our goals,” Sengupta said.
Commitment
Aegis invested P2 billion for the building of Aegis Tower Cebu, whose development comes in two phases.
“It’s a proof of our commitment to the Philippines and to the Filipino talent. Cebu continues to provide an extremely skilled workforce providing great affinity with the right experience for our local and international clients,” said Rajiv Ahuja, Aegis Limited president for Asean and ANZ.
Aegis has about 50, 000 employees in 50 locations in 12 countries.
In the Philippines, the firm has about 12,000 employees with other offices located in Manila and Baguio. Cebu has about 4,000 employees. Ahuja said they hope to increase the Cebu workforce by hiring 2,000 more employees with the completion of the Tower’s Phase 2.
Aegis Tower Cebu sits on a 3,300 square meter property. Apart from the being the first
company-owned BPO building, the facility also boasts of being one of the first BPO green buildings in the country.
According to the firm, the building was designed to maximize energy efficiency, using sustainable materials sourced from suppliers with environment-friendly practices.
The tower’s Phase 1 aims to become the first Gold-Level purpose-built BPO building in the Philippines, certified under the US Green Building Council’s Leadership in Energy and Environment Design (LEED) version 2.2 standard for new construction and major renovation. The Phase 2 project, which will be completed next year, also aims for the same certification under the LEED.
Liza Lamzon, Aegis PeopleSupport Inc. vice president for strategic programs, said the company will be fully integrated by the end of 2012 with the completion of its Phase 2 building. She said the firm is currently in transition, transferring manpower and resources from previous locations at e-Office and Skyrise 1.
The combined phases of the building will bring a total capacity of 8, 000 employees.
Among the tower’s amenities include a customized applicant experience center; a two-level fitness center with dance studio; a recreation center; a roof-top garden; two basements and three floors of parking spaces.
Growing faster
The global outsourcing and offshoring industry is estimated to reach $270 billion in the next five years. growing at an average of 15 percent a year, according to Aegis chief people officer S.M. Gupta.
He said the Philippines is growing faster than the global growth rate of more than 23 percent in the last 10 years. Gupta said the country has to take advantage of this growth and continue producing a large talent pool for the BPO and IT industry.
However, talent pool requirement is one of the major challenges faced by the BPO sector. Sengupta said this is one major area that needs to be addressed by the government and other private stakeholders considering that Cebu has become a preferred BPO destination.
“What if we will be hiring 1,000 employees in three months, will Cebu have the ability to produce the required number?” Sengupta said. He noted that talent pool in metro cities is slowly drying up.
Search for talent
“We are looking at either going to provinces and searching for this talent or going to these provinces and putting up establishments,” he said.
Aegis serves a spectrum of industries such as banking, financial services, insurance, telecom, healthcare, travel and hospitality, consumer goods, retail and technology.
Known for its aggressive acquisition strategy, Aegis Limited entered into a definitive merger agreement with PeopleSupport in 2008. Aegis is a wholly-owned subsidiary of the Essar Group, a $17-billion conglomerate based in Mumbai, India.
Aegis was ranked third among top BPO players in India in a recent survey by Dataquest, a leading knowledge publication. The firm is also recognized among the top four BPO companies in Nasscom’s recent annual BPO ranking this year.
Published in the Sun.Star Cebu newspaper on October 11, 2011.
Firm poised to launch resort-type condo
By Mia A. Aznar
Friday, October 7, 2011
THE property development unit of the Aboitiz group prepares for the launch of its latest mid-rise condominium project this month.
AboitizLand Inc. said the first phase of Hanaya—a 5.2-hectare mid-rise condominium project in Barangay Canduman, Mandaue City—will be completed by the second quarter of 2013.
Derived from the Cebuano word “hayahay” (comfortable) and the Japanese term “hanayo” or world of flowers, Hanaya is designed for start-up families and busy professionals who are tired of the city life as the property will have resort-type design and features.
AboitizLand senior vice president for operations Pia Montecon said the total investment for the first phase reached P750 million, which includes four buildings consisting of 94 condominium units per building and central amenities.
Each building will have six floors, with 16 units in each floor.
To maintain a relaxed feel, the design includes a garden atrium at the center of each building for better ventilation, and a skylight to maximize natural lighting in corridors.
The firm also assured that unit layouts were unique because views of the garden from the balcony are immediately seen upon entry while single loaded corridors assure unit owners of privacy and spacious hallways.
The project’s amenities include two pools, pavilion and gazebos, themed gardens and parks, barbecue stations, exercise stations, jogging trails, basketball court with benches, clubhouse, function rooms, gym, game room, karaoke rooms and playroom.
The development can be accessed from five different areas in Barangay Talamban, Cebu City and Mandaue City. This gives convenience to those whose children study at nearby schools, like Ateneo de Cebu, Cebu International School and Maria Montessori International School.
The developer has completed plans for the second phase of the project, which will be launched depending on market response to the first phase.
Montecon said the developer will launch another project similar to Pristina North before the year ends.
She said the project will be “double the size” of Pristina North and will be launched next month for the high-end market. She assured the prices of lots will be “worth it.”
Published in the Sun.Star Cebu newspaper on October 07, 2011.
Friday, October 7, 2011
THE property development unit of the Aboitiz group prepares for the launch of its latest mid-rise condominium project this month.
AboitizLand Inc. said the first phase of Hanaya—a 5.2-hectare mid-rise condominium project in Barangay Canduman, Mandaue City—will be completed by the second quarter of 2013.
Derived from the Cebuano word “hayahay” (comfortable) and the Japanese term “hanayo” or world of flowers, Hanaya is designed for start-up families and busy professionals who are tired of the city life as the property will have resort-type design and features.
AboitizLand senior vice president for operations Pia Montecon said the total investment for the first phase reached P750 million, which includes four buildings consisting of 94 condominium units per building and central amenities.
Each building will have six floors, with 16 units in each floor.
To maintain a relaxed feel, the design includes a garden atrium at the center of each building for better ventilation, and a skylight to maximize natural lighting in corridors.
The firm also assured that unit layouts were unique because views of the garden from the balcony are immediately seen upon entry while single loaded corridors assure unit owners of privacy and spacious hallways.
The project’s amenities include two pools, pavilion and gazebos, themed gardens and parks, barbecue stations, exercise stations, jogging trails, basketball court with benches, clubhouse, function rooms, gym, game room, karaoke rooms and playroom.
The development can be accessed from five different areas in Barangay Talamban, Cebu City and Mandaue City. This gives convenience to those whose children study at nearby schools, like Ateneo de Cebu, Cebu International School and Maria Montessori International School.
The developer has completed plans for the second phase of the project, which will be launched depending on market response to the first phase.
Montecon said the developer will launch another project similar to Pristina North before the year ends.
She said the project will be “double the size” of Pristina North and will be launched next month for the high-end market. She assured the prices of lots will be “worth it.”
Published in the Sun.Star Cebu newspaper on October 07, 2011.
AboitizLand set to launch resort-themed condo project
Wednesday, October 5, 2011
ABOITIZLAND has announced the launching this month of its latest residential project, Hanaya, a resort-themed condominium development in Canduman, Mandaue City.
The village, rising on a 5.2-hectare property, offers the highest percentage of open spaces ever integrated into a condominium development in Cebu, the company said in a press statement.
The community has a 70:30 open space-to-building ratio and is designed around lush green spaces and resort-feel amenities.
AboitizLand Sales Manager Grace Lepiten said Hanaya is “a real value-for-money investment, so attractively priced that after you have acquired your unit you will have a lot more left to enjoy the good life.”
Financing
Lepiten said Hanaya is currently being offered for a P25,000 reservation fee. Under the project’s financing scheme, clients have the option of spreading the 20 percent downpayment over an 18-month period. The balance can be covered by bank financing and is payable over a 15-year term.
“AboitizLand has designed Hanaya to be an easy yet secure investment – good location, excellent design, a totally rewarding experience,” Lepiten said.
Hanaya’s location is within minutes of the business and industrial hubs of Cebu and Mandaue Cities, schools, recreational and commercial centers and the international airport in Mactan. It is accessible through Gov. M. Cuenco Ave. in Banilad, Cebu City and through H. Abellana St. from the North National Highway in Mandaue City.
Its residential buildings are designed around a host of amenities – pools, gazebos, gardens, fitness trails and entertainment areas. Every residential building has a garden atrium that encourages ventilation and ample daytime lighting.
The company said Hanaya is the first for a project of its size in Cebu. It is designed with single-loading corridors – each unit opening into the atrium’s overhead space. With this design, corridors are airy and uncluttered, the company said.
Building heights at Hanaya are limited to six storeys. Each building has its own elevator, two open-type stairways, basement parking and street parking areas, roof deck, closed-circuit security television system, standby power, fire house cabinets, heat and smoke detectors, alarms and sprinkler system, fire exits and centralized garbage room.
Hanaya offers standard, deluxe and suite units in two- or three-bedroom designs. All units have either a balcony or a patio.
Lepiten said Hanaya is a viable investment, whether as a first or second home. Clients “can purchase a unit to use as their main home, or as a ‘resthouse’ within the city. It also has great potential in the rental market,” she said. (PR)
Published in the Sun.Star Cebu newspaper on October 05, 2011.
ABOITIZLAND has announced the launching this month of its latest residential project, Hanaya, a resort-themed condominium development in Canduman, Mandaue City.
The village, rising on a 5.2-hectare property, offers the highest percentage of open spaces ever integrated into a condominium development in Cebu, the company said in a press statement.
The community has a 70:30 open space-to-building ratio and is designed around lush green spaces and resort-feel amenities.
AboitizLand Sales Manager Grace Lepiten said Hanaya is “a real value-for-money investment, so attractively priced that after you have acquired your unit you will have a lot more left to enjoy the good life.”
Financing
Lepiten said Hanaya is currently being offered for a P25,000 reservation fee. Under the project’s financing scheme, clients have the option of spreading the 20 percent downpayment over an 18-month period. The balance can be covered by bank financing and is payable over a 15-year term.
“AboitizLand has designed Hanaya to be an easy yet secure investment – good location, excellent design, a totally rewarding experience,” Lepiten said.
Hanaya’s location is within minutes of the business and industrial hubs of Cebu and Mandaue Cities, schools, recreational and commercial centers and the international airport in Mactan. It is accessible through Gov. M. Cuenco Ave. in Banilad, Cebu City and through H. Abellana St. from the North National Highway in Mandaue City.
Its residential buildings are designed around a host of amenities – pools, gazebos, gardens, fitness trails and entertainment areas. Every residential building has a garden atrium that encourages ventilation and ample daytime lighting.
The company said Hanaya is the first for a project of its size in Cebu. It is designed with single-loading corridors – each unit opening into the atrium’s overhead space. With this design, corridors are airy and uncluttered, the company said.
Building heights at Hanaya are limited to six storeys. Each building has its own elevator, two open-type stairways, basement parking and street parking areas, roof deck, closed-circuit security television system, standby power, fire house cabinets, heat and smoke detectors, alarms and sprinkler system, fire exits and centralized garbage room.
Hanaya offers standard, deluxe and suite units in two- or three-bedroom designs. All units have either a balcony or a patio.
Lepiten said Hanaya is a viable investment, whether as a first or second home. Clients “can purchase a unit to use as their main home, or as a ‘resthouse’ within the city. It also has great potential in the rental market,” she said. (PR)
Published in the Sun.Star Cebu newspaper on October 05, 2011.
The Persimmon delivers units
By Katlene O. Cacho
Sunday, October 2, 2011
ABOITIZLAND’S flagship condominium project, The Persimmon, delivered its second tower to unit owners on Friday.
The company said that despite the entry of new players in the condominium category, it is still optimistic to get a good share of Cebu’s booming real estate market.
Aboitizland marketing manager Lorelie Ylaya said the differentiation and brand quality of its condominium project are among their competitive advantages over other players.
She said The Persimmon has the advantage of a good location, attractive pricing and the convenience of an integrated commercial hub, The Persimmon Plus.
The second tower, called the North Tower, has 157 units. Unlike Persimmon West, the first tower that was completed last year, which was bought for rentals, the North Tower is more for end-users, Ylaya said.
“A lot of people from neighboring regions bought units for their children, who are studying here. The second tower is really more for end-users living in the purchased units,” she said.
The Persimmon North has landscaped open spaces, function and board rooms as well as administration and security offices. The condo project has three unit types: studio, one-bedroom and two-bedroom units.
The prices of studio units range from P1.8 million to P2.1 million; one-bedroom units at P3.1 million to P3.5 million; and two-bedroom units at P5 million and higher. Ylaya said that of the 157 units, only 30 percent are left for sale.
Ylaya said real estate players credited the optimism in the industry to the continued surge of remittances from Filipinos working abroad. Money sent home by Filipinos living and working overseas reached $11.351 billion in the first seven months, up by 6.3 percent from last year, according to the Bangko Sentral ng Pilipinas.
Apart from relying on overseas remittances, Ylaya said they also strengthened their marketing promotions through social networking sites. She said technology enables them to reach potential buyers even in other regions.
With the completion of its second tower, Ylaya said the firm now is in the planning stages of building the third and fourth towers. The firm is set to break ground next year.
According to the recent real estate forum organized in Cebu by the Salesman’s Centre-the Institute of Sales Training and Entrepreneurial Development, the real estate industry in the country is valued at P300 billion a year.
Condo living, which was originally offered to the high-end market 20 years ago, has now evolved, with the middle-income market being served.
Despite the entry of new players in the industry and amid the fear of oversupply, DMCI Homes sales director Florante Ofrecio said “the market is still there as the middle –income class has grown so much.”
Published in the Sun.Star Cebu newspaper on October 03, 2011.
Sunday, October 2, 2011
ABOITIZLAND’S flagship condominium project, The Persimmon, delivered its second tower to unit owners on Friday.
The company said that despite the entry of new players in the condominium category, it is still optimistic to get a good share of Cebu’s booming real estate market.
Aboitizland marketing manager Lorelie Ylaya said the differentiation and brand quality of its condominium project are among their competitive advantages over other players.
She said The Persimmon has the advantage of a good location, attractive pricing and the convenience of an integrated commercial hub, The Persimmon Plus.
The second tower, called the North Tower, has 157 units. Unlike Persimmon West, the first tower that was completed last year, which was bought for rentals, the North Tower is more for end-users, Ylaya said.
“A lot of people from neighboring regions bought units for their children, who are studying here. The second tower is really more for end-users living in the purchased units,” she said.
The Persimmon North has landscaped open spaces, function and board rooms as well as administration and security offices. The condo project has three unit types: studio, one-bedroom and two-bedroom units.
The prices of studio units range from P1.8 million to P2.1 million; one-bedroom units at P3.1 million to P3.5 million; and two-bedroom units at P5 million and higher. Ylaya said that of the 157 units, only 30 percent are left for sale.
Ylaya said real estate players credited the optimism in the industry to the continued surge of remittances from Filipinos working abroad. Money sent home by Filipinos living and working overseas reached $11.351 billion in the first seven months, up by 6.3 percent from last year, according to the Bangko Sentral ng Pilipinas.
Apart from relying on overseas remittances, Ylaya said they also strengthened their marketing promotions through social networking sites. She said technology enables them to reach potential buyers even in other regions.
With the completion of its second tower, Ylaya said the firm now is in the planning stages of building the third and fourth towers. The firm is set to break ground next year.
According to the recent real estate forum organized in Cebu by the Salesman’s Centre-the Institute of Sales Training and Entrepreneurial Development, the real estate industry in the country is valued at P300 billion a year.
Condo living, which was originally offered to the high-end market 20 years ago, has now evolved, with the middle-income market being served.
Despite the entry of new players in the industry and amid the fear of oversupply, DMCI Homes sales director Florante Ofrecio said “the market is still there as the middle –income class has grown so much.”
Published in the Sun.Star Cebu newspaper on October 03, 2011.
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