CrebaChronicle

T he Of f icial Newletter of the Chamber of Real Estate & Builder’s Associations, Inc.

www.creba.ph 3rd Quarter 2015

WHAT’S INSIDE: takes centerstage CREBA Chapters: with International In Photos Realtor Conference “Bahay ko, Buhay ko” A home for every Filipino: The National Housing and The Dream Goes On Urban Development Summit

CREBA intensif ies PLUS: pursuit of solving Other Real Estate and PH housing challenges Housing Industry Updates

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The past month concluded with a great bang as CREBA hosted a milestone event that will be long remembered for its great achievements. The choice of holding of the first International REALTOR® Conference in Manila comes as a huge opportunity and challenge for our sector. While striving to be at par with the best in the world, we aim to adhere to global standards of practice and ethics and provide the mechanism for education, information exchange and networking resources to foster business at a global perspective. CREBA is likewise embarking on an Annual National Convention themed “A Home for Filipino: The Dream Goes On,” a manifestation of its relentless commitment to make housing accessible for all. Possibilities for continuing investment in tourism development as well as business process outsourcing remain very strong. Housing, especially for the low and middle income groups, should continue to be very much in demand and enjoy the financing resources that are available from government funders as well as the commercial banks. As we add more years to our history as an organization, it becomes even more gratifying to note the major role we have played in the industry’s growth. The members, therefore, of our Chamber, in their individual fields, have their work cut out for them. We encourage them to share these possibilities with other stakeholders in the country who may be experiencing special challenges at this time. Happy reading, fellow CREBANS!

Ms. Rosemarie C. Basa Public Relations Officer Contents 2 Manila takes center stage, 16 News CREBA hosts international property conference 20 Chapter Events 22 Philippine Property Awards 23 Monthly Business Meetings MOPC Chief at 8th CREBA Why Bacolod? 9 Monthly Meet

11 HLURB Chief at CREBA meet

4 FVR keynotes international 12 Realty finance, realtors confab, July 30 investments, and tax concerns at CREBA-La Salle program 6 A Home for Every Filipino: 26 The National Housing The Dream Goes on… Summit 13 Developers’ Group seeks changes to RESA Law 8 CREBA intensifies pursuit 28 Snapshots from the of solving Ph housing International Realtor® New Members 2015 challenges 14 Conference

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From the President’s Pen Mr. Noel Toti M. Cariño CREBA National President

Manila takes center stage, CREBA hosts international property conference

Former Philippine President Fidel V. Ramos was the Keynote Speaker at the International REALTORS® Conference hosted by the largest local real estate group, CREBA in partnership with the National Association of REALTORS® (NAR-USA). Shown in photo are leaders of CREBA including Charlie A. V. Gorayeb, national chairman (L-R) and Noel Toti M. Carino, national president, with world leaders of NAR including William Brown, 2017 President; Shonee Henry, regional coordinator for Asia-Pacific; Jennifer Tasto, NAR envoy to the ; and Mike McGrew, NAR treasurer.

The Philippines is currently Revenues from the real estate rate among various industries in a booming destination for investors industry have been growing the country. With the increasing who want to purchase or build annually since the last five years, spending power of the middle class, real estate properties and take hence, there is no doubt that the a strong and aggressive banking advantage of the country’s property sector shall have the sector, a stable homebuyers market, growing economy. crown of having the fastest growth plus billions in remittances from

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abroad, we see no end in sight for the industry’s flourishing growth. Together, CREBA and NAR bring the With the country’s participation in the ASEAN Economic Community CIPS brand to Manila for the third time beginning this year, more real estate investments from all over Southeast Asia are expected to pour into to prepare licensed brokers, appraisers, the Philippines. This economic upturn and consultants, and other professionals integration motivated the National Association Realtors® (NAR) to conduct the first-ever International in taking full advantage of available REALTORS® Conference and Regional Leadership Summit outside international opportunities. of the United States. The event, held at the City of Dreams Manila from July 28 to 30, was organized Philippines’ potential as a prime real Conference. The three-day event through the NAR’s exclusive bilateral estate destination. featured a REALTORS® Expo, where partner in the Philippines, the Indeed, it is high time for the buyers and sellers talked about Chamber of Real Estate and Builders’ Philippines to show its true promise. viable real estate investments and Associations, Inc. (CREBA). For a long time, we’ve been lagging growing their business; certification The two organizations have long behind other countries, but now courses for E-Pro, an online real been good partners in developing we are developing with leaps estate sales software; insightful talks the practice of real estate sales in and bounds. from industry experts from Asia and the country. CREBA stands as the Currently, the Philippines the Pacific; and tours around Manila. foremost organization in real estate is number two in Asia in terms An added feature was the pre- and housing in the Philippines, of growth. It has very solid conference Certified International while NAR is the global organization fundamentals regarding revenues, a Property Specialist (CIPS) designation of more than 1.1 million strong BPO base, and receives large course to be held from July 21 to 25. professionals that provides its overseas remittances annually. Several factors can hinder in closing partner organizations the necessary In 2014, BSP figures report that major deals: language barriers, education in industry ethics and remittances from the 10.5 Million changes in currency exchange rates, global professional accreditation. Filipinos working and residing acquiring financing, understanding For the International REALTORS® abroad hit an all-time high of foreign transactions and differences Conference and Regional Leadership $26.93 Billion. Despite a growing in laws and practices. Hence, Summit, CREBA and NAR gathered population of around 100 million, education and information are key. real estate industry leaders and it still has so much land waiting to Together, CREBA and NAR practitioners from all over Asia be developed. bring the CIPS brand to Manila for and the Middle East. It provided Local and foreign REALTORS® the third time to prepare licensed a wonderful chance for the local speak of good business and brokers, appraisers, consultants, real estate industry to show off the meaningful experiences at the and other professionals in taking full advantage of available international opportunities. This global convergence brought the best, and the “who’s Currently, the Philippines is number two who” in the real estate profession from all over the world, together in Asia in terms of growth. It has very in one venue. It sought to move the real estate sector forward to new frontiers by keeping in step solid fundamentals regarding revenues, with current world-class trends and challenges through industry updates, a strong BPO base, and receives large information, technical know-how, modern marketing tools, linkages overseas remittances annually. and business opportunities.

3rd quarter 2015 | Creba Chronicle 3 CrebaChronicle FVR keynotes international realtors confab, July 30

Former Philippine President energy, he pursued, focused and Fidel V. Ramos led the roster of converged programs to fight poverty. power-house local and global From 1993 to 1997, the speakers at the International Philippine economy recovered REALTOR® Conference held at the dramatically and a comprehensive City of Dreams Grand Ballroom in Social Reform Agenda (SRA) Parañaque City from July 28-30, addressed long-standing problems Former Philippine President 2015 which gathered more than regarding poverty, health, education Fidel V. Ramos 300 property industry leaders from and skills training, housing, across the globe, particularly the environmental protection, children the “Asian Davos” with the former United States of America and all over and the youth, the elderly and the prime ministers of Australia and Asia, who are affiliated with the 1.1 handicapped, jobs and livelihood, Japan. Boao inherits its name from million-strong Chicago-based National agrarian reform and access to equal a Chinese town in Hainan province Association of REALTORS® (NAR). opportunity. His public service which has been the site for its The Conference was hosted locally spanned a total period of 51 years. annual conference since 2002. The by the Chamber of Real Estate and Ever the international diplomat Forum is committed to promoting Builders’ Associations, Inc. (CREBA). and Philippine cheerleader, he regional economic integration and President Ramos is the 12th personally interacts with many in bringing Asian countries closer to President of the Republic of the leaders in various strategic and their development goals. Philippines. He exemplified the intellectual fora around the world. He currently serves as leader who always looked toward President FVR initiated in 1998 the Chairman of the Ramos Peace and the strategic future and whose Boao Forum for Asia, recognized as Development (RPDEV) Foundation. thumbs-up optimism—captured in descriptive phrases like “Caring, Sharing and Daring,” “Philippines 2000” and “Pole-vaulting”— propelled the economy, alleviated poverty, implemented social reforms, and cleaned up Manila’s vast garbage dump called “Smokey Mountain”. Known for his positive

Former President Ramos gamely flashes the thumbs up sign and signs a book as he meets the world leaders of the National Association of Realtors®, ASEAN cooperating associations and officers of CREBA.

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CREBA Speaks By Mr. Charlie A. V. Gorayeb CREBA National Chairman, June 2015

A Home for Every Filipino: T he Dream Goes on…

The Constitutional mandate lead implementing agency that shall of procedures, particularly for the to provide housing for the coordinate the activities of the key socialized and low-income sectors. underprivileged and homeless shelter agencies in the attainment Three decades since HUDCC and citizens of society is clear. Sec. 9, of national housing goals. two since UDHA, and a long list of Art. XIII of the 1987 Constitution Several years thereafter, Congress laws and plans on housing and real provides that “the State shall, by enacted Republic Act 7279 or the estate development that came with law, and for the common good, Urban Development and Housing it, what is the score for the housing undertake, in cooperation with the Act (UDHA) to provide a holistic sector and the millions of Filipino private sector, a continuing program mechanism in solving the housing families in need of decent and of urban land reform and housing problem with strong and direct affordable homes? which will make available at participation by the private sector in At its most conservative, affordable cost, decent housing and terms of socialized housing delivery. government estimates the current basic services to underprivileged and Later, EO 184 sought the institution housing shortfall to be at 5.5 million homeless citizens in urban centers of the one stop processing centers units. Surprisingly, government and resettlement areas.” composed of the various agencies spends less than one percent of its Executive Order 90 created the granting licenses and permits to spur annual budget for housing purposes Housing and Urban Development mass housing production through making it one of the lowest among Coordinating Council or HUDCC as the simplification and streamlining its peers in the ASEAN region. b y F reepik I llustration

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To this day, the country lacks a single policy-making body in the This year’s theme embodies CREBA’s form of a full-fledged Department of Housing and Urban Development relentless advocacy for the past four that addresses housing in its totality by encompassing four major aspects of land and housing development: decades in ensuring that every Filipino finance, production, regulation and administration. Efforts to pass the is able to live a full and happy life in a bill creating the housing department have fallen on deaf ears, and the home he can call his own. DHUD has been pending in the legislative mill for more than housing units by 2016. But in order of their own. To this day, CREBA 20 years. to improve the quality of life of our unrelentingly aims for greater focus While government has long people, housing cannot remain a on housing concerns by government acknowledged the significant privilege for a select few. It has to in accordance with a well-planned economic pump-priming effects of be enjoyed by every Filipino. and holistic approach. housing activities to about 70 other Hence, the Chamber of Real But the success of any industries as noted in the 2004 Estate and Builders’ Associations, government housing program medium-term development plan Inc. (CREBA) continues to fuel its depends on the consideration of which claimed that every peso spent aspirations in seeing the dawn of various factors that should come in housing reverberates to about shelter security for all. It has chosen into play to ensure effective and P16 worth of economic activities an apt theme for its 24th annual sustained program implementation. for the country, actual housing national convention: “A Home for It calls for an integrated system production versus housing need Every Filipino: The Dream Goes On.” that brings together the different remains modest. So what about the This year’s theme embodies components of a complete potential for job generation and CREBA’s relentless advocacy for the machinery that could run the billions of taxes for government past four decades in ensuring that engine of housing production and coffers that housing can bring? every Filipino is able to live a full delivery. It also requires adequate The Philippine Development Plan and happy life in a home he can call and appropriate responses to (PDP) and the updated National his own. the needs of human settlements Urban Development and Housing Since 1973, the Chamber has through a balanced approach to Framework (NUDHF) prepared by taken up the cudgels for Philippine urban planning and development, the present administration predicts real estate and housing on the such as the development of new that the magnitude of housing legislative and policy fronts to shape towns and communities that are need, defined as housing backlog public and private programs in all equipped with the needed facilities plus new households, is so enormous income groups particularly for the and amenities conducive to humane it could balloon to 5.8 million millions who do not yet have homes living conditions. Slated at the SMX Convention Center at the “City of Smiles”, Bacolod City from October 7-10, At its most conservative, government 2015 during the “National Housing Month,” the convention is CREBA’s estimates the current housing shortfall major year-end activity designed to foster fellowship, generate business to be at 5.5 million units. Surprisingly, and discuss workable measures to address housing concerns in the framework of private sector and government spends less than one percent government cooperation. All roads lead to this premiere of its annual budget for housing purposes event where industry players will converge to plan, work and making it one of the lowest among its collaborate on issues that directly and indirectly impact the real estate and peers in the ASEAN region. housing development business.

3rd quarter 2015 | Creba Chronicle 7 CrebaChronicle CREBA intensif ies pursuit of solving Ph housing challenges Grand national convention set in Bacolod City this October

The country’s largest require some missionary zeal to organization of key real estate accomplish, making CREBA target an industry players is intensifying its ambitious 500,000 residential units pursuit of solving the 5.5-million annually for 20 years to catch up national housing backlog, which and overcome the deficit. reportedly threatens to balloon to “That number (500,000) is actually 6.5 million by 2030 if supply fails more than double the industry’s to cope with the consistent rise in capacity to supply such that our demand as a result of population target entails massive resources and increase and other factors. capital, including political will in the This pressing issue, among form of a strong and comprehensive many others, will be the focus of a policy infrastructure support,” grandnational convention that will be Gorayeb pointed out. held by the Chamber of Real Estate Earlier, Gorayeb cited a package government while making it possible and Builders Association (CREBA) of reforms including long-term to rechannel a portion of foreign in Bacolod City from 7th to 10th of asset securitization covering both investments in high-end tourism- October, the National Housing Month. property and receivables, the related property development to mass Serving as a major yearend operation of a secondary market housing,” Cariño explained. activity, this year’s 24th CREBA for securitized assets under the Convention chairman Florante C. national convention is also designed administration of a government Ofrecio said all potential measures in to address other housing concerns agency, and access to public funds addressing the housing backlog would while fostering fellowship and for socialized and economic housing be discussed during the convention at generating business interactions through a so-called “Centralized the SMX Bacolod, and then undergo among its members and partners. Homebuyer Financing Program” a careful study in consultation with “But topping CREBA’s priorities involving the Social Security System, the appropriate industry sectors. is its four-decade-long advocacy and Government Service Insurance “Since its inception in 1973, vision of a home for every Filipino, System, Pag-IBIG and the unused CREBA has been leading the real which may require the pooling Agri-Agra funds of banks. estate and housing industry in of all the necessary resources, The Agri-Agra funds accrue from bringing about a favorable policy expertise and efforts from all the mandatory credit allocation environment for all income groups, sectors, including the government in of 25 percent of the banks’ total especially the millions with no terms of physical and policy support loanable portfolio for lending to homes of their own. To this day, infrastructure,” said CREBA national the agriculture and fisheries sectors, CREBA keeps taking the initiative for president Noel Toti M. Cariño. with at least 10 percent for agrarian a private-sector-led socioeconomic “Thus, the convention will reform beneficiaries. development through an inclusive enable us to listen to the novel “This scheme of mandatory approach that matches the ideas and possible solutions that allocation may also apply to the government’s pursuit of inclusive government officials and CREBA housing sector, wherein real estate growth,” Ofrecio said of the members and partners from all and property firms may be required purpose of the convention in being over the Philippines and abroad can to allocate a certain percentage geared up for massive participation. bring to the table. It will be here of their projects for socialized The convention was launched (convention) that everyone gets the housing,” Cariño said in referring just recently at the CREBA’s opportunity to contribute to this to the housing backlog as mostly 6th Monthly Business Meeting national effort,” Cariño said. comprised by the poor. at the Grand Ballroom, Hotel CREBA national chairman Charlie “This requirement (mandatory Intercontinental, City, with A. V. Gorayeb said addressing the allocation) can be incentivized Mayor Monico Fuentevella of entire housing backlog would with certain tax concessions by the Bacolod City as guest of honor.

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professional service, gourmet food and modern facilities and each have contributed greatly to make tourism a dynamic industry in the city. There has been a rapid growth in visitors’ accommodation over the last 7 years: from 1,612 hotel rooms in 2004, it grew to 2,732 in 2011, including 106 hotel rooms and 58 room inns all over the metropolis. As a perennial tourism hub, Bacolod attracts a multitude of tourists. From business arms and prospective investors to educational tour groups and local government units that come to observe and study the city’s practices in good governance, such advocacy has earned Bacolod major national, regional and international awards. All of its hotels are of the highest quality: satellite and cable TV, hot and cold shower, air-conditioning and 24/7 security will make your visit more memorable. Every food lover needs to take advantage of the city’s diverse cuisine that is known worldwide. From native dishes to gourmet offerings, your gastronomic choices will be endless! Stop by Manokan country and feast on our world famous or warm your paunches Why Bacolod? with cansi, a traditional Nengrense Bacolod City, “City of Smiles” soup dish of boiled shanks and bone marrow. End your culinary adventure with the sweetest desserts the The City of Bacolod is a major on the south by the City of Bago; and country has to offer. Never miss tourism destination in the Province in the west by the Guimaras Strait. our home-grown sweet shops that of Negros Occidental in Western Bacolod is famous for its serve beautifully designed cakes and Visayas, a cluster of islands at the MassKara Festival, a world-renown heart of the Philippine Archipelago. celebration the city holds every The biggest tourism asset of the October. Dancers in bright, colorful city is her friendly and genuinely costumes and dazzling smiling masks hospitable people, whose lilting gyrate in the city’s major streets, Hiligaynon dialect and winsome giving life to a flamboyant smiles have made Bacolod famous as tradition that every Bacoleño still the CITY OF SMILES. manages to smile despite facing Bacolod City is located on the insurmountable adversities. northwestern coast of the Province Bacolod is known as the “Most of Negros Occidental. It is bounded Livable City in the Philippines.” on the north by the City of Talisay; The city also flaunts good tourist on the east by the town of Murcia; accommodations, excellent

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pastries that will surely make your assorted vegetables, 100 hectares to urban areas to undeveloped and sweet tooth happy! coconut, 43 hectares to banana and underdeveloped areas of the city; But before you head home, take 34 hectares to corn. promote the flow of investors both a piece of Bacolod with you: , foreign and local, thus generating napoleones, and other Competitiveness employment opportunities and native delicacies translates to us being According to the “Philippine providing backward and forward the sugar capital of the country. Cities Competitiveness Ranking linkages among industries in the Project 2005” of Asian Institute of city, province and the rest of the Economy Management (AIM), Bacolod tops the country. The Code aims to transform Bacolod is the Philippines’ third list in terms of infrastructure, ahead selected areas of Bacolod into fastest growing economy in terms of such other mid-size cities like highly developed Agri-industrial, of information technology (IT) Iligan, Calamba, and General Santos. Industrial, Commercial, Tourist, and business process outsourcing Bacolod also tops the list in terms of Investment and Financial Centers (BPO) activities. The city has been quality of life, ahead of such other in the province, the region and the recommended by the Information mid-size cities like San Fernando, country. Balanced development and and Communication Technology Baguio, Iloilo and Lipa. AIM also the general welfare of the people Office of the Department of Science recognized Bacolod as one of the Top through rationalized land use is also and Technology (DOST) and Business Five most competitive mid-size cities an objective of the Code. Processing Association of the together with Batangas, Iligan, Iloilo, To encourage local entrepreneurs Philippines (BPAP) as the best location and San Fernando. and to attract outside investors, in the Visayas for BPO activities. the City offers incentives for new Bacolod ranked 3rd among the Transportation investments and expansion and top ten “Next Wave Cities” of the Bacolod City Domestic Airport diversification projects. A qualified Philippines for the best location for was the airport serving the general investor may enjoy up to five years BPO and offshoring according to a area of Bacolod. It was one of the of exemption from local business 2010 report of the Commission on busiest airports in the Western taxes and real property taxes on Information and Communications Visayas region, when Bacolod improvements. The number of Technology. In 2013, the city was still part of it. This airport was years of exemption depends on the declared a “center of excellence” replaced by the new Bacolod-Silay classification of the project, and the for IT-business process management International Airport, located in capital invested in relation to the operations by the DOST, joining the nearby Silay City. number of employees hired or to ranks of , Metro Cebu, be hired. and Metro Clark. Investments The Bacolod Investment The Negros Island Region Agriculture Code, City Ordinance No. 323, (NIR) – Region 18 Along its highways, sugarcane was passed in 2002 to lay On May 29, 2015, President plantations are a typical scene. As down the legal framework and Benigno Aquino III signed Executive of 2003, 7,216 hectares of the city’s mechanism for integrating the Order 183 creating the Negros Island 8,560 hectares of agricultural land investment incentives laws of Region (NIR). were still planted with sugarcane. the national government with Negros Occidental was carved Meanwhile, 915 hectares were the local development initiative; from Region VI (Western Visayas), devoted to rice, 120 hectares to spread development from the and Negros Oriental from Region VII (Central Visayas) to form the TeleTech Bacolod new region. An idea 20 years in the making, the Negros Island Region was created “to further accelerate the social and economic development of the cities and municipalities comprising the provinces of Negros Occidental and Negros Oriental and improve the delivery of public services in the aforementioned provinces.” Source: onebacolod.com, itsmorefuninthephilippines.com, sunstar.com.ph, bacolodcity.gov.ph, Rappler.com

10 Creba Chronicle | 3rd quarter 2015 CrebaChronicle HLURB Chief at CREBA Laguna meet to update members and other realty stakeholders cannot legally real estate and housing industry engage in any real estate business stakeholders in the province and activities without complying with other neighboring towns and cities the rules & regulations of the said in CALABARZON on the latest rules government agency. Bernardo and regulations of HLURB which are “In order for them to be fully important in the conduct of their compliant, they first have to be The Laguna Chapter of the respective professions and businesses. informed. And CREBA-Laguna hopes Chamber of Real Estate and Builders “Subdivision developers, real to be at the forefront of this dynamic Association, Inc. (CREBA) held its estate brokers, salespersons or agents public-private cooperation to make sixth monthly business meeting for and members of the local chamber housing a viable and equitable the year on June 17, Wednesday found the occasion an opportunity to endeavor for both developers and with Commissioner Antonio M. find answers to their questions and homebuyers,” Castillo stressed. Bernardo, chief executive officer of voice out their opinions as they relate The consultative meeting was the Housing and Land Use Regulatory to usual operational concerns,” inspired by the many advocacy Board (HLURB) as guest of honor Almiranez said. initiatives of the Chamber on the and speaker. Slated at the Ding Hao Atty. Rudy Castillo, chapter national scale under the leadership of Chinese Cuisine Calamba City, the chairman, said that the role, Charlie A. V. Gorayeb, CREBA national meeting opened at 11:30 am. influence, and control of HLURB in chairman and Noel Toti M. Cariño, Chapter president Lea Almiranez all aspects of real estate operations national president. Vitus P. Cruz is the said that the meeting intended is so broad and encompassing that vice-president for chapter affairs.

MOPC Chief at 8th CREBA Monthly Meet

and Noel Toti M. Carino, national “Our membership will definitely president of the association. benefit from the insights that he Romualdez is a seasoned will share during the meeting, journalist who has spoken widely on particularly his prognosis on the Romualdez current issues of national and global economy that will bear direct and interest. He writes three columns indirect impacts on the future of the Manila Overseas Press Club for The Philippine Star, namely Spy property sector,” Carino said. chief Jose Manual “Babe” Romualdez Bits which appears at the Business Organized through the internal will be the guest of honour and Section every Tuesday and Thursday; affairs group headed by Techie P. speaker in the eighth monthly business Babe’s Eye View every Sunday within Bautista, vice-president, the CREBA meeting of the Chamber of Real Estate the Opinion/Editorial pages; and monthly meeting serves as a forum & Builders’ Associations, Inc. (CREBA) This Week on PeopleAsia at the for all members and government to be held at 12:00 noon, August 27, Allure section of the paper every officials to express their views and 2015, Thursday, at the Grand Ballroom Sunday. All three columns have a initiatives on issues affecting the of the Hotel Intercontinental in Ayala wide following of readers composed real estate and housing industry. Avenue, Makati City. of Filipinos and foreigners both in For inquiries, please contact tel. This was announced by Charlie the Philippines and abroad (via the nos. 373-2270 to 75 or e-mail address A. V. Gorayeb, national chairman paper’s online version). [email protected].

3rd quarter 2015 | Creba Chronicle 11 CrebaChronicle Realty finance, investments, and tax concerns at CREBA-La Salle program

and Collection Management; Real Estate Investment Trust (REIT) and Public Listing of Real Estate Firms. From the fourth to sixth week, the topics are: Asset- backed Securitization; Real Estate Investment Guidelines and the IPP; Loans, Mortgages, Foreclosure and Remedies; Development and Buyers’ Financing through PagIBIG Fund and other Government Financial Institutions; and Real Estate Incentives and Tax Holidays. Sessions begin from 1:00pm and end at 7:30pm. By attending the course, participants are expected to have a wealth of information on identifying possible sources of funding for real estate development projects and their availment process, starting and maintaining a feasible real estate project and effectively manage its finances, and know the right people and take the best moves to maximize the income potential of land and its development. Attendance in the course will The Chamber of Real Estate & Magno, Vice-President for Academic merit a certificate issued jointly by Builders’ Associations, Inc. (CREBA) Council. Leida N. F. Rustia is CREBA and the De La Salle College announces its upcoming course course director. of Saint Benilde through its School entitled “Real Estate Financing, The course, which is the last of of Professional and Continuing Investments, and Tax Holidays” six modules being offered as part Education (SPaCE). Completion of slated for six Saturdays starting of the one-year Diploma Program six courses leads to a Diploma in August 15 thru September 15, in Real Estate Management, will Real Estate Management, the first 2015. The course will be held at tackle the following topics from of its kind currently offered as the 9th floor of the Angelo the first to third week: Preparing form of all real estate education in King International Center along and Defending a Project Feasibility the Philippines. Arellano St. cor. Estrada Street in Study for Real Estate Development; For inquiries and/or Malate, Manila. Joint-Venture Packaging and reservations, interested parties This was announced by CREBA Partnerships; Development and may call 373-2273 to 75, or National President Noel Toti M. Buyers’ Financing through Banks 400-7405 or send an email to Cariño and Professor Roque A. and other Private Institutions; Credit [email protected].

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The Chamber of Real Estate and Builders’ Associations Inc. (CREBA) Mr. Noel Toti M. Cariño – the largest umbrella organization CREBA National President of the majority of players in the country’s real estate and housing industry - is seeking the amendment of key provisions of the Real Estate Service Act, more commonly known Mr. Charlie A. V. Gorayeb CREBA National Chairman as the RESA Law, to address the possibility of its negative economic impacts to developers as well as the “The prohibition for developers to The association likewise moved for thousands of real estate professionals sell their own properties is counter- the scrapping of the policy limiting and salespersons nationwide. productive and puts landowners at the supervision of only twenty Republic Act 9646 was enacted a very disadvantageous position.” salespersons per licensed broker. into law in 2009 to develop “a Gorayeb said. Its leaders are of the opinion that corps of technically competent, Meanwhile, CREBA national there is no necessity for such limit as responsible and respected president Noel Toti M. Cariño any broker will only handle as many professional real estate service assailed the discriminatory scholastic salespersons under his supervision as practitioners” according to world- requirements for real estate he can manage because the burden class standards. It transferred the salespersons before they can get and responsibility for the acts of licensing and regulation of real accredited and registered by the such salespersons bears upon his estate brokers, appraisers, assessors Professional Regulatory Board shoulders, and his own license. and consultants, as well as the of Real Estate Service (PRB-RES) Gorayeb called on lawmakers registration of agents or salespersons which he referred to as “very high” to revisit Section 34 of the law from the Department of Trade and considering that there have been which has, for many years, sowed Industry (DTI) to the Professional thousands of such agents earning division and confusion among Regulation Commission (PRC). a decent living from legitimately stakeholders on the matter of “The title and objectives of the offering real estate before RESA the “accredited and integrated law are clear and specific. Surprisingly, came into law. professional organization” and the subsequent provisions extend “We will be depriving these poor its intended nature. He cited the beyond regulation of the real estate individuals the chance to partake conflicting manner by which the law service practice. Even developers are in the economic benefits of real was worded and sought that this be now being regulated against selling estate. Many of them have been settled once and for all to bring unity their own projects,” Charlie A. V. there working for so long, and to the varied sectors of the industry. Gorayeb, CREBA national chairman then they will be suddenly cut-off The group also bats for a clear pointed out. because they cannot qualify for statement clarifying that the Section 28 of the law states that registration,” Cariño stressed. requirement for real estate brokers provisions of the law and its rules and CREBA suggests to reduce to register under the Housing and regulations shall not apply to any the academic requirements for Land Use Regulatory Board (HLURB) person, natural or judicial, who shall salespersons provided that they by virtue of Presidential Decree directly perform by himself the acts of undergo formal training or are 957 promulgated in 1975 has been a real estate service practitioner with certified to possess the ample superseded by RESA as an effect reference to his or its own property, experience by the licensed broker of the take-over of the PRC on all “except real estate developers.” supervising them. licensed real estate professionals.

3rd quarter 2015 | Creba Chronicle 13 CrebaChronicle New members 2015

KTL DEVELOPMENT CORPORATION ROWENA MINOO SAMURAI, INC. Ms. Monette Ebora G/F Park Tower 5/F RM Centerpoint Bldg. Lot 2995 (Torre Lorenzo Corp) 630 Tomas Mapua St., Sta. Cruz, cor. Magsaysay Drive Manila East Tapinac, Olongapo City PARADIGM DEVELOPMENT Representative: Mr. Philip Lim Representative: CORPORATION OF THE PHILS. Position: Vice President Ms. Rowena A. Jamaji 333 EDSA, City Tel Nos: 733-8800 to 10 Position: President Representative: Mr. Anthony Go / Email: Tel/Fax No: 556 3718 Ms. Emily Duterte [email protected] Email: [email protected] Position: President / Consultant Corporation [email protected] Tel No: 361-8588 Developer Corporation Email: [email protected] Sponsoring Member: Secretariat Developer/Contractor Corporation Sponsoring Member: Developer POWER IMAGE REAL ESTATE Mr. Charlie Gorayeb Sponsoring Member: Secretariat CORPORATION Suite 2704 A West Tower, Philippine MS. MARIA LOURDES G. MS. MARIA CECILIA DIGNADICE Stock Exchange, Ortigas Center, MONTEVERDE 197 P. Santos St., Malibay, City City Unit 140, 14th Floor Tel No: 359-3250 / 894-1649 Representative: Mr. Warren Royo Landco Corporate Center, JP Laurel Mobile: 0917-8973133 Position: President Davao City Email: [email protected] Tel No: (02) 218-8953 Tel No: (082) 305 0407 Individual Email: [email protected] Mobile: 0922 8140777 Sponsoring Member: Vangie Yia Corporation Email: Developer [email protected] F1 HOTEL MANILA, INC. Sponsoring Member: Individual 32nd Street, Fort Bonifacio, Mr. Federico Royo Broker City Sponsoring Member: Representative: Mr. Philip Cea ZONELISTING SOLUTIONS, INC. Verdemonte Realty Position: Chairman Unit 2504-A, West Tower, Philippines Tel No: 928-9888 Stock Exchange Center, Exchange LITTON & CO., INC. Fax No: 726-0626 Road, Pasig City 2/F SunshineSquare, Liberty Center, Email: Representative: 312 Pleasant Hills, Shaw Boulevard, [email protected] Mr. Juan Paulo A. R. Reyes City Corporation Position: COO Representative: Mr. Joseph Gallego Developer Tel Nos: 211-1970 Position: President Sustaining Member: Noel Toti Cariño Fax Nos: 570-7798 Tel No: 534 5647 to 50 Mobile: 0917-8653689 Fax No: 533 0953 NASAR REALTY DEVELOPMENT Corporation Mobile: 0915 8561065 CORPORATION Other Tech./Prof. Services Email: CSSM Campus, Km. 17 Aguinaldo Sponsoring Member: Secretariat [email protected] Highway, Panapaan V, City of Bacoor, Corporation Cavite TAISAN INDUSTRY AND Developer/Leasing & Property Representative: Mr. Stephen Sarino COMMERCE CORP. Management Tel No: (046) 417-8944 Unit 1001 Infinity Tower Sponsoring Member: Secretariat Corporation 26th St. cor. 11th Ave.Bonifacio Developer Global City, Taguig MS. HONORIA G. DATAR Sustaining Member: Representative: Mr. Andy G. Lee 10/F Fort Legend Tower, 31st Street, Genros Realty Corp. Position: President Cor. 3rd Ave., BGC, Taguig City Tel/Fax No: 553-8095 Tel No: 570-0853 UNITED COCONUT PLANTERS BANK Mobile: 0917-6361131 Mobile: 0915-3345682 UCPB Corporate Offices 7907, Makati Email: [email protected] Email: [email protected] Ave, Makati City Corporation Individual Representative: Mr. Victor Dela Cruz, Jr Supplies Trader Broker/Appraiser Position: AVP2, Metro Manila Sponsoring Member: Secretariat Sponsoring Member: Business Center

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Tel No: 811-9000 loc. 4161 Sponsoring Member: Secretariat Sponsoring Member: Secretariat Fax No: 811-9104 Email: [email protected] CITY SHUTTER INCORPORATED ROWAN VERGIL D. UMANDAP [email protected] No. 10, N. Domingo St. cor. Doña J. 56 Manalo St., Puerto Princesa City, Corporation Rodriguez, Valencia, Palawan Banker Representative: Tel No: (048) 433 2692 Sponsoring Member: Secreetariat Ms. Ingrid R. Mendoza Mobile No: 0927 7362389 Position: Business Development Email: [email protected] MS. CLARINDA CASTRO QUISAO Manager Individual 12F Frabelle Business Center, Tel No: 722 5909 / 7225898 / Broker Rada St., Makati City 411 2854 Sponsoring Member: Mobile No: 0917-8114975 Fax No: 416 5627 Mr. Charlie A.V. Gorayeb Email: [email protected] Mobile No: 0917 8199659 Individual Email: [email protected] MR. RODERICK F. ESCAÑO Sponsoring Member: [email protected] Blk. 26 Lot 4 AGl Heights Subd., Prof. Roque Magno Corporation Nancayasan, Urdaneta City, Supplies Manufacturer Pangasinan MR. ISIDRO R. MONTALBAN, JR. Sustaining Member: Secretariat Tel No: (075) 633 8098 No. 2537 R. Fernandez St., Mobile 0932 8795193 Gagalangin, Tondo, Manila AZTALA CORPORATION Email: [email protected] Tel No: 775-3168 Rm. 208, West City Plaza, Individual Mobile No: 0919 9944830 #66 West Ave., Quezon City Broker 0927 2860138 Representative: Sponsoring Member: Secretariat Email: [email protected] Mr. Michael Paolo S. Bellosillo Individual Position: President MYDEE TRADING BUSINESS Broker/Appraiser Tel/Fax No: 374-2518 SOLUTIONS Sponsoring Member: Monette Ebora Mobile no: 0917-8393336 923C Aurora Blvd. Brgy. Silangan, Email: Cubao, Quezon City LANDTECH INNOVATIONS AND [email protected] Representative: Mr. Dexter I. Ibay DEVVELOPMENT CORPORATION Corporation Position: President Unit 4 3/F Zuellig Bldg., Makati Ave., Developer, Build & Sell, Contractor Tel Nos: 440 4344 / 437 3281 Cor. Paseo de Roxas, Makati City Sustaining Member: Secretariat Mobile No: 0927 7445555 Representative: Ms. Sheryl Ono Email: [email protected] Position: President SEVEN SEAS PROPERTIES Single Proprietorship Tel No: 800 0111 CORPORATION Supplies Trader/Manufacturer Mobile No: 0917 5765152 U-2403 Trade & Financial Tower, Sponsoring Member: Corporation 7th Avenue cor. 32nd St. Mr. Demetrio Posadas 1. MR. Sponsoring Member: Bonifacio Global City, Taguig RODERICK F. ESCAÑO Prof. Roque A. Magno Representative: Ms. Maricel Nieva Blk. 26 Lot 4 AGl Heights Subd., Position: Country Manager Nancayasan, Urdaneta City, MR. GENANDO S. DE LEON Tel No: 887 0316 Pangasinan 62 Fifth Street, corner Balete Drive, Mobile No: 0917 8474438 Tel No: (075) 633-8098 New Manila, Quezon City Email: Mobile 0932-8795193 Tel No: 661 0765 [email protected] Email: [email protected] Mobile No: 0917 5307235 Corporation Individual Individual Broker Broker Broker, Financial Consultant Sponsoring Member: Secretariat Sponsoring Member: Secretariat Sponsoring Member: Archt. Basil Valdes EXAATTO BUILDERS INC. / RB MYDEE TRADING BUSINESS RAMIREZ & ASSOCIATES SOLUTIONS JACINTA ROXANI REALTY 1601B West Trade Center, 923C Aurora Blvd. Brgy. Silangan, CORPORATION West Avenue, Quezon City Cubao, Quezon City No. 15 Industria St., Representative: Representative: Mr. Dexter I. Ibay Kapasigan, Pasig City Mr. Paul Michael Ayson Position: President Representative: Mr. Felipe Olarte Position: Associate Partner Tel Nos: 440-4344 / 437-3281 Position: President Tel No: 413-8165 Mobile No: 0927-7445555 Tel No: 643 4422 Mobile No: 0922-8364792 Email: [email protected] Mobile No: 0918 9422422 Email: [email protected] Single Proprietorship Email: [email protected] Corporation Supplies Trader/Manufacturer Corporation Developer, Build & Sell, Engineering Sponsoring Member: Mr. Demetrio Developer, Build & Sell Services Posadas

3rd quarter 2015 | Creba Chronicle 15 News! CrebaChronicle CTA affirms realtor non-VAT status

T he Court of Tax Appeals (CTA) has affirmed an earlier following: 1. Change of control of a corporation by the ruling that the transfer of real property by a real-estate dealer acquisition of the controlling interest of such corporation by to gain control of another real-estate corporation is not another stockholder or group of stockholders. subject to value-added tax (VAT). The goods or properties used in business or those In the case of Commissioner of Internal Revenue v. comprising the stock-in-trade of the corporation, having Dakudao & Sons Inc., the CTA en banc affirmed a ruling of the a change in corporate control, will not be considered sold, Second Division granting a tax refund to the respondent in bartered or exchanged despite the change in the ownership the amount of P112 million. interest in the said corporation.” The VAT payment was made in 2011 when Dakudao & “If the transferee of the transferred real property by Sons transferred two parcels of land to Metro South Davao a real-estate dealer is another real-estate dealer, in an Property Corp. in exchange for 75 percent of the capital stock exchange where the transferor gains control of the transferee- of the corporation. corporation, no output VAT is imposable on the said transfer,” The transfer was levied a P112-million output VAT liability the regulation said. on the part of Dakudao & Sons by the Bureau of Internal The CTA rejected the argument of the BIR that the Revenue (BIR), which considered the transaction a sales transfer transaction was not one of those enumerated in transaction. Section 109 of the Tax Code as VAT-exempt transactions. But the CTA upheld the argument of the respondent that The CTA said the claim for refund by the respondent is under Revenue Regulations (RR) 16-2005, transfers of real under another provision of the law, specifically RR 16-2005, property made by a real-estate corporation to gain control of which provides that the subject transaction is not liable for another real-estate corporation are not subject to VAT. output VAT. RR 16-2005 provides that: “The VAT shall not apply to goods or properties existing as of the occurrence of the Source: Business Mirror - June 18, 2015

House adopts creation of oversight body on socialized and low-cost housing loan The House of Representatives has adopted on second reading Planning, Housing and Resettlement an annual report on the a resolution creating a congressional oversight committee loan restructuring and condonation program,” Benitez said. on socialized and low-cost housing loan restructuring Benitez said there is a need to constitute a Congressional and condonation. Oversight Committee on Socialized and Low-Cost Housing Rep. Alfredo B. Benitez (3rd District, Negros Occidental), Loan Restructuring and Condonation to review the chairman of the House Committee on Housing and Urban implementation of RA 9507. Development, said the oversight committee provided under “The oversight committee will monitor and evaluate the House Joint Resolution 31 shall review the implementation implementation of the Socialized and Low-Cost Housing Loan of Republic Act No. 9507, otherwise known as the “Socialized Restructuring and Condonation Program to determine whether and Low-Cost Housing Loan Restructuring and Condonation it is carried out in accordance with the law,” Benitez said. Act of 2008.” The oversight committee shall evaluate the administration Benitez said RA 9507 authorized the governing boards of the program to ensure that it is strengthened, executive of the government financing institutions, such as the Home waste is eliminated, and its goals achieved through efficient Development and Mutual Fund (Pag-Ibig Fund), Social and effective program management and service delivery. Security System (SSS), Government Service Insurance System The resolution also requires the committee to monitor the (GSIS), National Home Mortgage Finance Corporation delivery of government services through the implementation (NHMFC), Social Housing Finance Corporation (SHFC), of the program and appraise whether the needs and interests Home Guaranty Corporation, and National Housing of the beneficiaries of the program are adequately served and, Authority (NHA), to continue the loan restructuring and if not, to determine the necessary remedial action. condonation beyond the 18-month mandatory period of RA 9507 was signed into law to institute a rational loan implementation from its effectivity. restructuring and condonation program that takes into “Six years since the enactment of Republic Act 9507 and consideration the credit worthiness and credit discipline these government financing institutions have yet to submit of the borrowers and the financial viability of the lending to the House of Representatives Committee on Housing and institutions consistent with the policy of the State to Urban Development and the Senate Committee on Urban undertake a continuing program of urban land reform

16 Creba Chronicle | 3rd quarter 2015 CrebaChronicle and housing that makes available at affordable cost decent socialized and low-cost housing loan accounts which have at housing to underprivileged and homeless citizens. least three months of unpaid monthly amortization that are RA 9507 declared an 18-month mandatory coverage in any of the government financing institutions. for housing loan restructuring and condonation, upon the Source: congress.gov.ph effectivity of the implementing rules and regulations, of all

SC order halting Torre construction worries developers By Amy R. Remo (Philippine Daily Inquirer, July 10, 2015)

The Chamber of Real Estate and Builders’ Associations Inc. The Supreme Court last month issued an order (CREBA) warned on Thursday that the temporary restraining temporarily halting the construction of the 49-story Torre de order slapped against the controversial Torre de Manila Manila which critics assailed for ruining the sight line of the condominium project was sending the wrong message to Monument. The order stemmed from the September investors who wanted to support the country’s economic 2014 petition filed by the Knights of Rizal which wants the development. building demolished. Aside from expressing its support for one of its members, CREBA national chair Charlie A.V. Gorayeb added that DMCI Homes, which is also the project developer, CREBA they were hoping the high tribunal would decide in favor said that TRO had exposed one of the major stumbling blocks of DMCI Homes which went ahead with the project after faced by the real estate industry. securing all the necessary permits and requirements as “The local government units (LGUs) are sometimes not mandated by both local and national laws. properly attuned to the realities of the bigger picture. Their “We’re just pinning our hope on the honorable members concerns are mostly parochial and hamper the overall growth of the Supreme Court who we hope and pray will see the light, or overall development. A case in point would be the Torre so to speak, at the end of the tunnel… The government must de Manila project wherein the developer, despite having all put its act together so we in the business community would permits in place, is being penalized,” CREBA president Noel not find ourselves in a compromising situation. Billions (of M. Cariño told reporters in a briefing yesterday. pesos) have been poured into this project only to be stopped “We feel this is a concern that should not be taken lightly by reasons that are not within the company’s radar when it because we would like to believe we are governed by the laws started planning the project,” he added. and regulations that are in place and as long as you follow CREBA is the recognized umbrella organization of some these laws and regulations, then you should be protected… 4,000 firms, individuals and associations directly or indirectly This is a very dangerous situation for developers and for involved in land and housing, construction, allied industries investors as the TRO sends [the] wrong message to every and various related professional fields. body,” he added. Source: newsinfo.inquirer.net

PH real estate sector to stay strong in 2015 MANILA, 2014 and would likely post further gains in 2015. Philippines–The Backing this outlook is the continued demand for Philippine real business process outsourcing services, political stability and estate sector is positive economic growth indicators, Santos said. expecting another robust year, with gains seen across the CBRE data showed that vacancy rates in prime Metro traditionally strong office and retail segments apart from Manila office buildings remained under 3 percent. By the end emerging areas like casino gaming and hotels, the local unit of of 2014, the vacancy rate slipped from 2.53 percent to 2.13 US-based CBRE Group said. percent quarter on quarter, CBRE said. During this period, The outlook suggests robust growth in the property Metro Manila lease rates grew 2.6 percent. sector during the last full year of President Aquino’s term, “Even with the increase in rental rates across all business before businesses take a more cautious approach ahead of the districts, the good news remains that investors are willing election season in 2016. to pay for the quality and value that they can get in the CBRE Philippines chair and CEO Rick Santos said in a Philippines,” Santos said. briefing that the office sector, in particular, ended strong in Makati City will continue to lead in terms of office rates,

3rd quarter 2015 | Creba Chronicle 17 News! CrebaChronicle with the average central business district price already real estate sector.” hovering at P1,073 a square meter, followed by P848.34 a The retail segment is also expected to benefit from sqm in Fort Bonifacio and P650.5 a sqm in Pasay City, CBRE continued economic growth, given that the Philippines is data showed. driven by heavy consumer spending. “Makati rents seen to strengthen up to 2017 due to lack of Morgan McGilvray, director for corporate agency who handles new completion of Grade A buildings as vacancy levels seen to CBRE’s retail segment, said the country was in a good position remain below 3 percent,” CBRE said. Santos noted that rental to attract more brands, partly as tourism prospects increase. rates in Makati were expected to grow by between 5 percent “The Philippine retail industry has great potential to be a and 15 percent in 2015. major shopping haven in Asia,” he said. John Corpus, CBRE director of corporate agency and Santos noted that the benefits were being felt in the brokerage, noted that the office segment was primarily driven tourism and gaming sectors, the latter mainly through the by BPOs. The domestic BPO industry is worth an estimated massive Entertainment City complex along Manila Bay. $14 billion in terms of revenues last year and the figure is “The gaming sector of the Philippines, when developed, is expected to hit $25 billion by 2016 and $48 billion by 2020, expected to rival that of Macau and other Asian countries,” CBRE data showed. Santos said, as he downplayed risks following China’s “Philippine BPO expansion looks to be on an uphill climb announcement that it would fight efforts by foreign casinos for its 20-year run in Philippine real estate,” he said. “No end to lure Chinese customers. in sight for strong BPO demand in the Philippine commercial Source: business.inquirer.net

BSP readies contingency measures to cushion impact of China slowdown, US rate hike

MANILA, Philippines - The Bangko Sentral ng Pilipinas economic slowdown in (BSP) is ready to deploy contingency measures anew once China risks arising from the economic slowdown in China and the after surviving the impending rate hike in the US heighten. impact of the tapering BSP Governor Amando Tetangco Jr. said monetary of bond purchases by authorities are ready to utilize macroprudential measures the US Fed. if the country’s trade is adversely affected by China’s “I would say, if the weakening economy. magnitude of price “Nevertheless, should our trade be adversely affected, movements is in the especially if growth in China slows significantly more than order of those seen market expectations, we also have room to support growth during taper period, and manage inflation, given our policy rates are still relatively then we should be higher than zero,” Tetangco said. able to weather that,” China recorded a flat gross domestic product (GDP) of Tetangco said. seven percent in the second quarter of the year amid weak The Philippines was able to withstand massive capital investment and trade. The world’s second largest economy has outflows last year as funds shifted back to the US as tapering of failed to pick up momentum this year. the quantitative easing program started in early 2014. China’s GDP growth eased to 7.4 percent last year from Measures adopted last year by the BSP include the 7.7 percent imposition of higher minimum capital requirement for in 2013. banks, the implementation of a comprehensive credit risk The BSP’s management framework, and the increase of the reserve Monetary Board requirement for banks by one percentage point. has kept key Other macroprudential measures include the limits on policy rates banks’ exposure to non-deliverable forwards and prohibitions unchanged since on access to special deposit accounts (SDAs) for non- September last residents and investment management accounts. year. The BSP chief earlier expressed confidence the Philippines Tetangco would be able to withstand external shocks amid the stock is confident market collapse in China and the Greek debt crisis. the Philippines “At the moment, our assessment is we have the policy would be able to space to stem market volatility from portfolio rebalancing withstand the due to the Fed lift off, EU discussions, and the Chinese stock Tetangco impact of the market volatility,” he added.

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ADB Delegates Visit Pag-IBIG Fund during Cross-Regional Forum on Remittance

Pag-IBIG Fund was one of the OFW members of the Fund represent 27 percent of the 14.8 three key institutions in the million total Pag-IBIG membership level. They are one of the country recently visited by around fastest growing sectors in terms of Pag-IBIG membership. 37 delegates of the international “In response to the growing Pag-IBIG membership of forum on Promoting Remittance OFWs, we established an OFW Center at our Justine Bldg. for Development Finance of the Makati office that provides an integrated service for OFWs,” Asian Development Bank (ADB). Atty. Berberabe added. The event was the first cross- In partnership with the regional forum on remittance Philippine Overseas Employment attended by delegates from Administration (POEA), development member countries (DMCs) of the ADB. The Overseas Workers Welfare site visit, as indicated in the program, is on “remittance Administration (OWWA), and innovations in the Philippines.” the Philippine Health Insurance “We are honored that ADB has chosen Pag-IBIG Fund as Corporation (PhilHealth), the one of the three government institutions in the Philippines OFW Center offers services such to be visited by the delegates of the cross-regional forum as membership registration, on remittance,” said Pag-IBIG Fund President and Chief remittance of member’s savings Executive Officer Atty. Darlene Marie Berberabe during her and loan payments, issuance of Berberabe presentation of Pag-IBIG Fund Benefits for Migrant Workers Overseas Employment Certificate, pre-departure orientation, before the delegates at the Pag-IBIG office in Justine Bldg., investment center for modified PagIBIG 2, and acceptance Makati City. and release of housing and short-term loans, among others. Atty. Berberabe presented to the ADB delegates Pag-IBIG’s “We recognize the sacrifices and efforts of our OFWs in programs for OFW members, including access to financial order to give their families a better future. It is only right that services like remittances and loans wherever they are in the we give them the best service,” Atty. Berberabe added. world. Atty. Berberabe informed the delegates that OFW The ADB delegates conducted a site visit for them to membership with Pag-IBIG Fund continues to grow, reaching learn about public and private support activities for migrants 3.9 million as of December 2014, and remitting a total of P1.7 and remittances. billion Pag-IBIG membership contributions in the same year. Source: pagibigfund.gov.ph Certified International Property Specialist

Participants of the Certified International Property Specialist (CIPS) Course, a special training program licensed by the National Association of Realtors (NAR) pose with CREBA national chairman Charlie A. V. Gorayeb, lead instructor Furhad Waquad (5th from bottom right) and VP-International Evangeline A. Yia during the opening on July 21, 2015. This is the third time since 2012 that CREBA hosted the CIPS offering in Manila.

3rd quarter 2015 | Creba Chronicle 19 CrebaChronicle Chapter Events

HLURB Commissioner and CEO Atty. Antonio M. Bernardo presents the agency’s latest regulatory issuances at the CREBA-Laguna Chapter sixth monthly meet.

(L-R) CREBA Vice-President for Chapter Affairs joins CREBA-Laguna Chapter President Lea Almiranez in presenting a token of appreciation for Atty. Bernardo.

National President Noel Toti M. Cariño speaks at the induction of the newly-installed officers and directors of the CREBA La Union Chapter. The event was held at the Hotel Ariana in Bauang City on May 23, 2015.

Incoming CREBA-La Union Chapter President Rey Nisce welcomes the National President.

CREBA-Laguna Chapter officers and directors with Atty. Bernardo and other officials of the HLURB.

The newly-inducted officers and directors of CREBA-La Union Chapter are presented to the general membership after being officially sworn in.

More new members were admitted and sworn in during the induction event.

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CREBA Soccsksargen Chapter held its Induction of Officers and Breakfast Forum last July 4-5, 2015 at the Amethyst Hall, Phela Grande Hotel, General Santos City. Vice-President for chapter affairs Vitus P. Cruz graced the occasion with his presence.

The 13th Induction and Turnover Ceremonies of CREBA Pangasinan Chapter was held last May 23, 2015 at the VIP Hall of the CSI Stadia, Dagupan City, Pangasinan. Photo shows (L-R) past chapter president Vic Sison, incoming chapter president Engr. Denver Mon Claveria and outgoing president Engr. Rolly Ferrer with CREBA national president Noel Toti The 2015 CREBA Pangasinan Board of Directors and Officers. M. Cariño.w

CREBA Baguio-Benguet Chapter held its 34th Annual Induction Ceremonies with the theme “Gearing for Sustainable Urban and Environmental Protection” last February 6, 2015 at the Fortune Hongkong Seafood Restaurant, Baguio City

3rd quarter 2015 | Creba Chronicle 21 CREBACreba GOLFChronicle CLUB INC Invitation to Play

Date: October 1, 2015 (Thursday) Venue: The Legends Course, Manila Southwoods Golf & Country Club, Carmona, Cavite Format: Sequential Registration: 6:00 am Tee time: 8:00 am Entry Fee: Php 3,000 – Guests Php 2,000 –Manila Southwoods Club member (inclusive of green fee, meal ticket, giveaways and raffle) Hole-in-One Prizes: House & Lot, Golf Cart Awarding Ceremonies

For further information, please feel free to call the CREBA Secretariat at 3732270 to 75 or email at [email protected].

Thank you and we look forward to playing with you.

Philippine Property Awards 2015

National President Noel Toti M. Cariño is presentor at the Philippine Property Awards 2015 hosted by Ensign Media which appointed CREBA as supporting association. Photo shows top officials of Brittany Corporation which bagged the “Best Housing Development” Award for its project, Amore at Portofino.

22 Creba Chronicle | 3rd quarter 2015 CrebaChronicle Monthly Business Meetings

Mayor Monico Puentevella invites CREBA National Chairman Charlie A. V. Gorayeb is joined by National President members to visit and maximize real estate Noel Toti M. Cariño and Vice-Chairman Florentino S. Dulalia, Jr. in opportunities in economically-vibrant Bacolod awarding a plaque of appreciation to Mayor Puentevella for gracing City as he delivers his address during the 6th CREBA’s sixth monthly business meeting. CREBA monthly business meeting and launching the 2015 CREBA national conventionv

BizNews Asia publisher and CEO Antonio V. Lopez Convention Chairman Florante C. Ofrecio joins CREBA’s top leaders and Mayor provides insights and prognosis on the real estate Puentevella onstage for the unveiling of the 24th CREBA National Convention theme industry and the Philippine economy during the and logo. fourth monthly business meeting of the Chamber.

National President Noel Toti M. Cariño delivers his message and monthly report to the general The men and women behind the successful and highly-attended 2014 CREBA National membership at the Chamber’s fifth Convention held in Iloilo City. monthly meet

3rd quarter 2015 | Creba Chronicle 23 CrebaChronicle

National President Noel Toti M. Cariño presents the plaque of appreciation to New Members pose for posterity before they are Tony Lopez as he joined in by Public Relations Officer Rosemarie C. Basa, formally inducted. Vice-Chairman Florentino S. Dulalia, Jr. and Director Rodolfo L. Pua.

Vice-President for Internal Affairs Techie P. Bautista Guests and members at the fourth CREBA monthly business meeting. conducts an orientation for new members.

National President Noel Toti M. Cariño administers the oath of the newest batch of corporate and individual members admitted into the fold of the growing CREBA membership. Each new member is given a pin to be worn at all times to signify one’s affiliation as a CREBAn.

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Bangko Sentral ng Pilipinas Deputy Governor for the Monetary Stability Sector Hon. Diwa C. Guinigundo presents BSP’s policies and reforms that impact the real estate and housing sector.

Guests and members at the third CREBA monthly business meeting.

National Chairman Charlie A. V. Gorayeb and DG Guinigundo answer questions from floor during the open forum of the third CREBA monthly business meeting.

National Chairman Charlie A. V. Gorayeb swears in new members during the second monthly business meeting of the Chamber.

LRA Administrator Atty. Eulalio C. Diaz III (top photo) and Deputy Administrator Robert Nomar Land Registration Authority (LRA) Administrator Atty. Eulalio C. Diaz III talks V. Leyretana answer questions from CREBA about the agency’s jurisdiction and land titling programs, particularly the on-going members during the second monthly business land title computerization program during the second CREBA monthly meet. meeting of the Chamber.

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T he National Housing Summit

I. RATIONALE development and build a consensus Summit’s conclusion in February among them as to which policies 2016. It shall provide the direction The Philippines has been beset and programs will best address and guidance to key shelter with housing problems for many their concerns. agencies and other concerned decades. With the rapid population government departments in growth and poverty, the eradication pursuing provision of affordable of housing backlog in the country II. OBJECTIVES Main Objective: To bring housing. It is expected that these remains elusive. HUDCC reported together government, private sector, agencies will utilize the Paper that the estimated housing backlog civil society to collaborate towards document as a primary reference in the country is now at 5.5 million effecting immediate interventions to in strategic planning and housing and is expected to balloon to around address the housing backlog among program implementation in their 6 million by 2016. The housing the informal and formal sector and respective areas. This document is backlog is also reflected with the identifying key policy reforms to likewise envisioned to feed into number of informal settlers in the close the gap in affordable housing. the formulation of the National country. Government estimates that Housing and Urban Development around 30 percent of the country’s Specific Objectives: Framework that is currently total population is living in informal being updated by the HUDCC. settlement and that about 2.4 million 1. Identifying immediate to medium individuals or 584,000 informal term focused interventions for ISF 2. Program Implementation on settler families reside in Metro Manila. and low income in-city housing specific cases within NCR, which Given these premises, the in Metro Manila. will serve as prototypes for Committee on Housing and Urban 2. Identifying long-term directions housing interventions that may Development of the House of for policy reforms needed be applicable on a national scale Representatives and the Senate on meeting the housing later on. In coordination with key Committee on Urban Planning, backlog through provision of shelter agencies, the Summit seeks Housing and Settlements agreed affordable housing. to effect specific interventions to jointly hold the conduct of needed for the immediate terms the National Housing Summit. By III. PRIMARY OUTPUT particularly for ISFs and other virtue of the oversight function of 1. Policy Paper on Key Directions low-income families in Metro the Philippine Congress, the Joint for Policy Reforms in Closing the Manila and beyond. Committee envisions the Summit Affordable Housing Gap in the 3. Glossary of housing terminologies. to be a venue that will gather all Philippines. The Policy Paper shall The glossary shall address the stakeholders on housing and urban be ratified by stakeholders at conflicting data on the housing

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and urban development indicators. solutions to increase affordable proposals and determine which In addition, it shall also address housing production. appropriate action is needed confusion among the private 2. Housing Financing to for the execution (i.e. sector because of the conflicting • Addressing gaps in existing Congressional Resolution, Bill, definitions in some housing housing financing schemes Executive Issuances). terminologies used by various • Augmenting public • After the launch of the implementing agencies. investment in the low-income Summit, a monthly Joint housing sector Meetings shall be conducted to IV. THE PROCESS ensure progress of discussions 3. Governance A. Thematic Group Discussions per thematic groups and that • Streamlining and incentivizing Based on international good the results will be cohesive. of efforts of key public practices on political consensus institutions involved in housing C. Timeline building for housing policies, the The National Housing Summit is 4. Urban Development Summit is envisioned to be a process not just a one-day event, it shall be • Addressing shelter challenges whereby all stakeholders in the composed of a series of discussions in from the lens of building housing sector will be engaged order to ensure the identification of inclusive cities in a series of discussions under crucial and urgent issues on housing each of the thematic areas to be B. Joint Congressional and urban development. The Summit detailed below. Committee Meetings was launched last May 27, 2015 and 1. Land and Socialized Housing • The Joint Congressional shall culminate in February 2016. • Identifying land suitable for Committee meetings shall serve In between shall be the thematic socialized housing, bottlenecks as the plenary discussions for group discussions and monthly Joint on the utilization of public and decision-making and validation Congressional meetings. private lands for housing. of the results discussed in the • Summit discussions from July • Identifying gaps and possible thematic groups. It shall finalize 2015 until February 2016.

Congressman , Housing Committee Chair Congressman Alfredo B. Benitez, Vice-President Jejomar C. Binay, Housing Committee Chair Senator Joseph Victor Ejercito, Senator Nancy Binay and community group leaders at the launching of the National Housing Summit held on May 27, 2015 at the AMVACA Project Site in Valenzuela City.

CREBA National Chairman Charlie A. V. Gorayeb Chairman Gorayeb and President Cariño join heads of KSA’s, private housing and National President Noel Toti M. Cariño after groups and community leaders on a tour of the AMVACA project site which signing the pledge of commitment to the objectives benefitted more than 1,000 urban poor families in need of decent and affordable and initiatives of the National Housing Summit. homes in Valenzuela City.

3rd quarter 2015 | Creba Chronicle 27 CrebaChronicle Snapshots from the International Realtor® Conference

The Regional Leadership Conference gathered World NAR Leaders, CREBA Officials and Heads of the Asian Real Estate Associations which have bilateral relations with the NAR

CREBA National President Noel Toti M. Cariño presents the Philippine experience in the management of realtor brand.

The 2017 NAR President William “Bill” Brown” International and local delegates enjoy the night at the welcome reception

CREBA signs agreements with NAR’s bilateral partners across Asia to promote cross-country trade relations to advance oppotunities in the property sector in each other’s home countries.

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Parañaque City Mayor Edwin Olivarez leads the opening The Philippine Flag and the CREBA banner fly high at The Parade of the exhibits of Nations

NAR Asia-Pacific PRR-RES Chairman D. Eduardo G. Ong Congressman Alfredo B. Benitez keynotes coordinator Shonee Henry with conference delagates day 1 of the conference opens the Regional Leadership Summit

Local and international delegates at the plenary sessions

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