Real Estate Updates by REBAP Metro East

04/04/2015

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16/02/2015

08/02/2015

Investment Priorities Program to spur housing for the masses

The 2014 Investment Priorities Plan (IPP), approved by President Aquino last Nov. 21, aims to promote the country’s local industries. Through the IPP, specific

08/02/2015

ASEAN integration to boost PH property industry growth

MANILA, PHILIPPINES – The Philippine real estate industry is expected to grow further next year as the upcoming Association of South East Asian Nations (ASEAN) economic integration continues to attract foreign investors and with the region’s increasing role in the global economy.

The ASEAN integration in 2015 will change the economic landscape of the whole region, particularly the real estate market, Noel Cariño, president of Chamber of Real Estate and Builders Association (CREBA) said in a statement.

“The demand for residential spaces adjacent to malls, retail complexes, and other recreational spaces would go up and will likely increase the already healthy real estate market,” Cariño explains.

More commercial and residential infrastructure for highly urbanized cities within the region including key cities of the Philippines would be needed as the integration sets in.

“Residential, commercial, and retail developers, which will be exposed to international market, will expand their operations and acquire properties inside and outside the country, while foreign investors and corporate executives with local operations in the country will look for residential spaces for a place to stay,” Cariño added.

Reforms needed

To reap the benefits of the ASEAN integration, the country must continue to pursue relevant market reforms in order to remain competitive.

“Foreign ownership restrictions enshrined in the Philippine constitution will hinder the growth of foreign direct investments, so we need to continue to improve the business environment in the country in order to attract more investors,” Charlie Gorayeb, national chairman of CREBA pointed out.

CREBA is pushing for the passage of a bill that will consolidate the function and powers of major housing and urban agencies of the government to address effectively the needs of both consumers and developers.

CREBA also aims to sustain a centralized home financing program for the country to address the current housing backlog and supply the housing demand of the growing middle class within the next 20 years.

With the upcoming ASEAN integration, property players “should work together to unlock strategic approaches to keep the domestic property sector afloat” as multinational players enter the already stiff competition in the country’s real estate market, according to the organizers of the convention, CREBA said in a statement.

Meanwhile, Iloilo will host host CREBA’s 23rd National Convention on October 15 to 18. Senator JV Ejercito, who chairs the senate committee on urban development, housing and resettlement, is set to deliver a keynote speech on the legislative agenda of the real estate industry in the 16th congress.

Source: rappler.com/business/industries/175-real-estate/71738-asean-integration-property-industry-growth

05/11/2014

05/10/2014

23/06/2014

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21/06/2014

Condominium developers tapped for gov’t socialized housing program

MANILA, Philippines – Condominium developers are being tapped to help in the government’s Urban Development and Housing Program by requiring them to allot at least five percent of their real estate for socialized housing.
This is mandated in House Bill 4116 that was passed on third and final reading at the House of Representatives, amending Republic Act 7279, which requires subdivision owners to allot 20 percent of the property to socialized housing.
Under HB 4116, condominium developers will allocate an area for affordable units “equivalent to at least 5 percent of the total condominium area” while the remaining 15 percent will be shouldered by subdivision owners.
The bill will “accelerate the provision of affordable socialized housing nationwide and provide the underprivileged and homeless Filipinos the opportunity to own a house,” said the bill’s author Negros Occidental Representative Alfredo Benitez, chairman of the committee on housing and urban development.
The bill also allows developers to have joint ventures as long as they are separately able to comply with the requirements for socialized housing.
The National Economic and Development Authority and the Housing and Urban Development Coordinating Council are tasked to determine the socialized housing prices to be revised every three years.
Both agencies are also mandated to adjust the percentage of the subdivision area for socialized housing every five years from the enforcement of the bill. A law will have to be passed by Congress for proposals to lower the percentage.
The bill also sets the construction of educational facilities in the area.
Violators may be penalized P10 million for the first offense and a revocation of the business license for the second offense.

Source: http://newsinfo.inquirer.net

Condominium developers are being tapped to help in the government’s Urban Development and Housing Program by requiring them to allot at least five percent of their real estate for socialized housing.

02/06/2014

22/05/2014

INVITATION:
Real Estate Brokers Association of the Philippines, Inc. (REBAP) Metro East-SMM Chapter will have its 2014 General Membership Meeting and Orientation on May 29, Thursday, 6:30pm to 9:30pm, at Max’s Restaurant in Eastwood City.
We are inviting licensed real estate brokers to attend this event and find out the benefits of being a REBAP member.
• To reserve a seat, please call (02)438-2966 or call/text (0917)811-8227
• Registration fee is P250 inclusive of set meal
About REBAP Metro East-SMM:
REBAP Metro East-SMM Chapter was founded in 2009 by our beloved mentor Engr. Enrico Cruz together with former REBAP National Secretary General Christian Garcia and current REBAP Metro East Chapter President Dennis Tablizo, among others. Regular Business Meetings are scheduled every 3rd Thursday of the month, 6:30pm at Max’s Restaurant in Eastwood City.
In REBAP Metro East, TO DO BUSINESS IS OUR BUSINESS!!!
What you should know about REBAP:
Thirty Five years ago, a group of concerned and dedicated licensed real estate brokers bonded together and dedicated themselves to pursue their common objectives of truly professionalizing the real estate industry and raising the level of ethical standards of licensed real estate practitioners. With this noble purpose in mind and adhering to the ideas they firmly believed in, they established an entirely new association known as the Real Estate Brokers Association of the Philippines, Inc. (REBAP).
REBAP was formally registered with the Securities and Exchange Commission on January 4, 1979 as a non-stock, non-profit, non-sectarian and non-political corporation. As early as its beginnings, REBAP has made its presence felt in business, government and other sectors of society by constantly articulating its stands on issues affecting the real estate industry and more so, the public which it serves. Through the years, the association steadily grew in membership and gained recognition as a vigilant, innovative and resolute group.
Today, REBAP is a strong force of more than 1,000 regular members spread over 32 chapters in Metro Manila and the provinces. It will continue to expand by establishing more chapters in key areas of the country’s 13 regions and invite to its fold the still many licensed real estate brokers who desire to pursue the same goal as ours with the end of finding fulfillment in their real estate careers.