- Details
- Category: Properties
- 18 Mar 2014
- Written by Amor Maclang
PROPERTY sales for a good number of local real-estate developers have continued to sustain an upward trend as of late. This development has helped translate the encouraging outlook that the country has enjoyed over the years into actual business opportunities that continue to fuel the surge of various local industries.
Real-estate experts and analysts have noted that the Philippine property sector will continue to defy odds as it aims to achieve record-breaking growth figures this year.
For one, the foreign market—investors, property buyers and even foreign developers—has had a strong impact on how the local sector has thrived, continually pouring in key investments focused on high-potential areas, such as commercial and office real estate, construction and tourism. In the last three months, foreign institutions eyeing to establish their brands in the region have tapped Filipino developers as partners to projects collectively valued at $10 million to $300 million. This alone stresses the huge interest that the foreign market has in doing business here in the country.
But how exactly can the Philippines take advantage of the economic potential that has caught the eye of the foreign market? How can we sustain this development and lure more investments to support our growing economy. Here are a few insights I want to share with you:
Make your brand do the talking
Branding is one of the easiest inputs to the value-chain that can unlock more value for the community and our people. It is through nurturing what your brand stands for and communicating the promise of what you can achieve—and subsequently delivering on that promise—that developers can sustain a long-term relationship with the foreign market.
Establish an investor-friendly identity by making your brand speak of your business values. You can bolster your brand’s reputation by championing green initiatives, for example. Understand the needs of the foreign market and create opportunities by sustaining their trust. It won’t be enough that you know everything about sustainable or green development; you should be able to back up all your assertions with actual products that live up to your brand’s unique character.
Create a demand for the ‘unique’
Another way to attract the market is to create products that fulfill the promise of extraordinary living experiences. Brittany Corp., for example, has invested in this concept when it introduced Crosswinds, its Swiss-inspired residential development in Tagaytay. The secluded atmosphere and the calming allure of the place are perfect elements that have the biggest potential to attract discerning buyers.
Understand the market’s potential
There is a huge disparity between the capacity that both the foreign and local property market have, and being able to craft strategies on how to target the two separately already moves you one step ahead of the competition.
The best example to illustrate this point is the massive opportunities that come with the silver market. We’ve mentioned before that this is one of the emerging property markets that is poised to bring long-term growth for real-estate developers here in the Philippines, simply because of the investment and spending capacity that members of this highly specialized segment possess.
As I have mentioned in my previous column, members of the global silver market are continuously on the lookout for homes and investment opportunities overseas, and developers in the Philippines should be able to provide products and services that fit their lifestyle. This can come in the form of developments that promote medical tourism, leisure tourism or luxury properties, among many others.
With the Philippines successfully rising as a global investment hotspot, it is about time that our local developers stepped up their game to be able to sustain and ride the growth long-term. What developers can do is to carefully strategize by evaluating their efforts and redirecting their plans to suit the needs of a highly complex segment like the foreign property market.
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