Friday, July 31, 2009

The 3rd Annual Philippine Real Estate Festival 2009

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I was able to attend the Philippine Real Estate Festival last July 23, 2009. It was great to see some of the industry players attending this event.

The afternoon forums on the status of our real estate industry is very informative and useful in terms of economic outlook expected in the future and bright prospect our country can attain with high demand of Filipino professionals in the overseas work and business processing outsource sector, the near completion of infrastructure and telecommunications development projects around the countryside with sigh relief of pending slow economic recovery of the world.

Tourism Secretary Ace Durano is pushing the Philippines to have take chunk of the tourism market the Department of Tourism's aim is to promote property tourism, medical and ecology tourism in which it will showcase our lush beautiful sceneries and bountiful resources to foreigner and also our very own local tourist. Also in the forum are Philippine Retirement Authority Chairman Edgardo Aglipay who has given a short lecture on capturing the foreign retiree markets of baby boomers, people born before World War II. Mr. Antonio Antonino, the president of Ayala Land Inc. in which he discusses about real estate investment in the diverse Philippine market, Secretary Margarito Teves of the Department of Finance discussing on the investment outlook in the Philippines, Vice President Noli De Castro, the chairman of HUDCC on how the Philippines escape the subprime mortgage crisis and Director General Lilia de Lima of Philippine Economic Zone Authority on how locators still stayed in the economic zone in the Philippines.

I am very hopeful and optimistic on the positive news that we received from this movers and shakers of the real estate industry in the hopes of strengthening and putting our faith on real estate in order to hedge inflation. We are experiencing slow growth in our economic overview but with hopes of slow economic recovery of the United States and the whole world in which it will takes months to years before the happy days are here again.

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