Thread by @rapplerdotcom

NOW: In this episode of #BusinessSense, Rappler's @RalfRivas talks to PropertyGuru Asia Property Awards general manager Jules Kay about the property industry outlook and how the Philippine market is picking up amid the pandemic.

WATCH:

@RalfRivas Kay: The Philippines’ developers and projects have already done very well on the regional stage over the years. #BusinessSense

@RalfRivas Kay: We encourage the development of the industry by recognizing the developers and the properties that are really taking things to the next level. #BusinessSense

@RalfRivas Kay: We’re seeing across Southeast Asia a gradual and very positive rebound in the real estate sector. But each country is responding to recovery in its own way. Property developers and buyers are taking a cautious but optimistic view. #BusinessSense

@RalfRivas Kay: In the Philippines, the latest market reports suggest there’s an increase in supply of residential units for 2022. #BusinessSense

@RalfRivas Kay: There are also positive signs that the rental market is recovering, travel restrictions are easing, international investment is growing again. #BusinessSense

@RalfRivas Kay: One of our biggest award winners from the Philippines last year was SMDC. Their president was calling out the fact that there’s still a lot of pent-up demand. #BusinessSense

@RalfRivas Kay: There’s a lot of supply that needs to enter the market in the Philippines, which is a very encouraging sign. #BusinessSense

@RalfRivas Kay: Also with the BPO sector, the return to office is going to be something that affects the real estate market in the Philippines very strongly. As people come back to the office, they transform areas again. #BusinessSense

@RalfRivas Kay: But it won’t be a return to office that we’re familiar with, because I think the office now will be more of a place that you go on a need-to-go basis, not on an everyday basis. #BusinessSense

@RalfRivas Kay: And I think that’s something that will change with real estate development. It’ll become more localized because people will also be working from home. #BusinessSense

@RalfRivas Kay: We’re definitely seeing demand for more space, more air, a healthy living environment. People are looking not necessarily for bigger properties but for properties that have that option to go outside. #BusinessSense

@RalfRivas Kay: Perhaps more integrated developments, where there are green spaces, eco-friendly features, easy access to the amenities so you don’t have to travel so far. Or if you do have to travel, your property is easily connected to transport. #BusinessSense

@RalfRivas Kay: There’s a lot of co-working, co-living concepts that began before the pandemic but will now extend post-pandemic. Developers are looking at innovative ways to integrate the work and home life experience. #BusinessSense

@RalfRivas Kay: We have a very young, dynamic buyer pool in many of the countries around this region, and they’re leading the demand for innovative solutions. I think that’s really good for the market because we’ll see some great ideas. #BusinessSense

@RalfRivas Kay on awards: The criteria include the quality, the sustainability element, their reputation, their value for money, relevance to the market, and also the number of projects they have launched and successfully sold. #BusinessSense

@RalfRivas Kay on awards: The judges – they may come from a design, an architecture background, from a consultancy and development background, we have surveyors, we have lawyers, we have a whole range of property experts. #BusinessSense

@RalfRivas Kay: All of the property sectors are now treating sustainability more seriously. Whether it’s residential, commercial, office, even industrial, they’re embracing more green features as a standard. #BusinessSense

@RalfRivas Kay on sustainability: In many ways, it’s the commercial property sector that’s really led this, especially in the Philippines. There’s a preference for sustainable buildings. #BusinessSense

@RalfRivas Kay: As we see the market become more aware of green and sustainable features, we expand our [award] categories accordingly so that there’s recognition for that, because recognition in turn promotes a focus on that area. #BusinessSense

@RalfRivas Kay: Sustainability and green features save you money. You may have to spend more in the initial stages of a project, but you’re also going to save when it comes to energy use and various aspects. #BusinessSense

@RalfRivas Kay: From a consumer perspective, we’re really seeing now that the modern property buyers expect sustainable buildings and green features. And that will actually add a premium to your property price. #BusinessSense

@RalfRivas Kay: When we’re looking at offices, we’re also looking at how they cater to the daily needs of the workforce, more than just a row of desks or a line of people sitting at their computers. #BusinessSense

@RalfRivas Kay: It’s as much about the project – the way it’s built, the design, the sustainability features – as it is about how it caters to the needs of the individuals that are using that project. #BusinessSense

@RalfRivas Kay: The office sector, particularly in the Philippines, is strongly positioned to bounce back. There’s a lot of outsourcing requirements and the Philippines is definitely high on the list when it comes to BPO. #BusinessSense

@RalfRivas Kay: Mixed-use and integrated projects and townships are also becoming a trend. That kind of integrated approach to architecture is something that’s really taking off. #BusinessSense

@RalfRivas Kay: When it comes to sectors, we go from affordable to the mid-end to the upper end and to the luxury end. There’s more available at every price level now. #BusinessSense

@RalfRivas And that's a wRap! Watch the whole #BusinessSense episode here: rappler.com/business/busin…