RP’s real estate brokers beef up info campaign on RESA Law

October 27, 2010

DAVAO CITY — The Real Estate Brokers Association of the Philippines (REBAP) Davao chapter has beefed up its campaign on the Republic Act 9646 or the Real Estate Services Act (RESA) of the Philippines to guide both the public and the brokers better understanding of the amendments of the law. REBAP Davao chapter vice president Winstone V. Pulido said they welcome the law as it will continually professional their sector.

He said with the number of unlicensed brokers operating in the island, RBAP do not have way to monitor the activities of some of these sellers.

The new law is beneficial to the buying public of transacting as they will be shielded from transacting to unregistered brokers that led overpricing of the property and engage in unethical practices.

He said the government has been taking serious steps to provide protection for property buyers and they see this as a good step for them to be encouraged to invest more in Philippine real estate.

The law states that a licensed broker is allowed to have under him only 20 sellers but the practice before the approval of the new law was many real estate projects had only one or two registered brokers with 200 to 300 sellers.

He said with RESA, the practice of real estate broker will now be regulated even as he said that a broker before he or she will be allowed to take the real estate brokers examination for licensing need to acquire 24 units under the continuing education program (CEP) and this arrangement will be honored for the 2011 examinations.

By 2012, prospective examinees need to comply 120 units under the CEP, he said.

The legitimate practitioners of brokering as a business are subjected to fees and taxes while a good number of “fly-by-night” brokers that would number to about 2,500 in Davao City alone escape government regulations and payment of taxes and fees, he said.

“And this would some up to millions of losses of government in the form of taxes as most unlicensed brokers charge 5 percent commission,” he said.

The RESA Law is in support to professionalize and regulate the practice of real estate in the country through the development of technically competent, trained and accountable real estate practitioners.

The law defines that real estate broker is a duly registered and licensed natural person who, for a professional fee, commission or other valuable consideration, acts as an agent of a party in a real estate transaction to offer, advertise, solicit, list, promote, mediate, negotiate or effect the meeting of the minds on the sale, purchase, exchange, mortgage, lease or joint venture, or other similar transactions on real estate or any interest therein.

Pulido said the REBAP supports the information dissemination campaign of the Professional Regulation Commission (PRC) and the Bureau of Internal Revenue (BIR) to reach out to as many brokers to have themselves get licensed and legalized their profession.

Pulido said although this will be a huge task ahead, the passage of the RESA Law is a good start to professionalize their sector and at the same time protect the interest of the public from unscrupulous agents.

With the real estate industry in Davao City hitting a positive growth, he said, a lot of real estate development is opening up in the city especially that there is a demand for houses here from the neighboring regions wanting to locate here.

Meanwhile, he said brokers who will attend the First Mindanao Real Estate and Housing Conference in Davao City scheduled on Oct. 5 to 6 will earn units and credited under as allowed by PRC. (PNA)
LDV/PDDB/lvp

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More than P400-M new investments get tax incentives in Davao City

September 21, 2010

DCIPC officer-in-charge Jason Magnaye during the Davao Business Forum at the MediSpa, SM City Davao

The newest investments in Davao City valued at P441 million that passed through the Davao City Investments and Promotion Center (DCIPC) gets exemption of paying mayor’s permit and fees.DCIPC officer-in-charge Jason Magnaye said this is on top of the approved investments during the first semester amounting to P612 million.

He said they need to work hard in order to meet their target of P1.9 billion this year.

The recent approved investment is still in line with real estate where one is a subdivision project worth P119 million and the other, a commercial building for mixed use with investments at P322 million.

Magnaye also said that the earlier investments consist of two projects on real estate, one in tourism while the other in agri-business.

In the pipeline are on real estate and commercial buildings, he said.

Meanwhile, he said majority of the investments in Davao City for the past several years are in line with real property development.

He said for the past three years, projects in the city were dominated by property development getting a share of 83 percent of the total investments.

He cited that since DCIPC started in 1995, property development got the biggest chunk as it cornered 61 percent of the total investments.

On the other hand, Magnaye is optimistic of hitting their target as they incorporate service marketing in finding new investors.

Davao City Mayor Sara Duterte-Carpio also goes out of her way in meeting with prospective investors and personally discussed with them what the city can offer.

He said the mayor also conducts personal visits to and assessments of existing projects of interested investors like in Manila in order to see for herself their projects.

Magnaye cited for instance that the Mayor led a small team to conduct ocular visit to the World Trade Center (WTC) in Manila as she is interested that a developer would invest in convention center here.

Although he stressed that they cannot dictate on the kind of investments he said perhaps they could influence.

A team from WTC composed of some senior officials will be coming to Davao City by end of September to check on the city’s investment area.

“The fact that a senior official is coming over would indicate that they are interested,” he said.

Magnaye said they double up in finishing their inventory and data as to real property investments as these comprise of the common data that investors ask. The other basic data as to infrastructure and other related information are also being readied by their office, he said.

He said a series of review and assessment are being made by them to ensure that investors get relevant and appropriate data as this will help them decide in locating here.

He also said they will continue to improve on their services and reach out to other sectors as they align with the development direction of the city. (PNA)
DCT/DDB/lvp


Real estate developers start green campaign in Davao City

July 27, 2010

 Developers of building structures and subdivisions in Davao City embark on the Davao Green campaign in support to the environment protection program of the government.

Carlos Vargas of the Chamber of Real Estate and Builders’ Association (CREBA) and coordinator of the Davao Green Campaign said their advocacy will focus on three concerns namely green development, green energy and green technology.

He admitted that developers in this city have yet to incorporate the Green Building and Green Architecture even as they have sought the help of the Davao City government to work on projects that would showcase their green campaign.

Vargas said they are thinking of setting up an area in Barangay Mintal here where they will showcase homes and locations that would follow everything related to their green campaign.

Green building, he said, is a bit expensive but this would turn out cost effective in the future.

“There are buyers of homes already looking at this concept and in fact some are interested and willing to follow environment friendly designs,” he said.

Green building, also known as green construction or sustainable building, as defined by Wikipedia is the practice of creating structures and using processes that are environmentally responsible and resource-efficient throughout a building’s life-cycle from sitting of design, construction, operation, maintenance, renovation and deconstruction.

This practice expands and complements the classical building design concerns of economy, utility, durability and comfort.

Vargas said they already submitted a proposal to the city government for the mass transportation that will play to the different working areas here from their respective communities.

In this way, he said the number of vehicles will be reduced thus pollutions from cars may be reduced. He said they are eyeing a space in the downtown area where they could build a medium rise building for low cost occupancy with an estimated cost of P500,000 per unit.

He said locating residential units within the area of work would also be cost effective. The downtown area project is a consortium of the CREBA, he said adding this could be a start as well as support to their green campaign here. He said they are in constant talks with other CREBA associations in our cities of the country for them to get ideas and techniques on how to efficiently implement the green campaign as well as sustain their advocacy. (PNA) LDV/PDB/lvp


Real estate sector sees bright prospects in Davao

December 6, 2008

Despite the economic slowdown in the global market, a major real estate player is anticipating bright prospects in Davao next year.

Maryline Lim, general manager of Samantha Homes said there is a large housing need in Davao City saying that the company is targeting the medium level market.

She said the newest Samantha Homes project is at Bago Gallera where they enrolled as Pag-IBIG City of over 800 units. The site she said will include playground and multi-purpose hall that will later be turned over to the homeowners association.

She said their company caters to employees, the overseas Filipino workers and the self-employed.

The subdivision features include water facility sourced out from the Davao City Water District, an overhead transmission lines provided by the Davao Light and Power Company, underground drainage and concrete roads with curbs and gutter.

But Lim said they don’t just build houses because they see to it that they would also introduce some new designs in their projects.

In the pipeline next year she said is the 400 units project in Panabo City.

All in all she said to include the new projects, Samantha Homes house and lot units accounted to 3,120.

Their other projects are found in Matina Aplaya, Barangay Lizada in Toril, Paligue in Padada, Davao del Sur, Catalunan Pequeno, Catalunan Grande.

Lim said they are careful with the supervision of the project because of the “buy back” policy ofPag-IBIG Fund.

She said Pag-IBIG Fund for that matter pay particular attention to project development including the first years of repayments of homebuyers.

She said they do not want also to be remiss of their responsibilities saying that they need to comply what has agreed between them and Pag-IBIG Fund.

“What Pag-IBIG Fund had invested are the funds of the members and we make good of our investment because these are money of the Fund members,” she said.

Lim however stressed that they reach out to their homebuyers in order for them to make good of their repayment record.

She said with the reduced interest rates extended by the Pag-IBIG Fund the rebate extended to homebuyers who are “good payors,” now owning a house is very affordable.

Meanwhile Davao City Investment and Promotion Center head Engr. Roberto Teo expressed good prospects for real estate in 2009.

Teo in a separate interview said real estate will continue to pick up in Davao City next year.

He said a new subdivision project with investment of P120 million will commence next year.

He also said that constructions of two the big investments on real property are on-going while developers of new condominium projects have already shown keen interest for new construction here. These are in addition to the DMCI condominium and that of the Filinvest development


As promised ….

September 29, 2008

Here’s the list ….

LIST OF ACTIVE SUBDIVISION OWNERS/DEVELOPERS WITHIN REGION XI

As of June 2008

(Data was furnished by the Housing and Land Use Regulatory Board

Thanks Regional Officer Roy T. Lopez)

ARCH. KRISTIN H. LU

President and Gen. Manager

Kisan Lu Realty Inc.

MR. ANTONIO DOMINGO

Santos Land Dev’t Corporaton

MR. DEBIN A. URAYA

Chair,

Uraya Land Dev’t Corporation

MR. FRANCISCO M. SORIANO

President and General Manager

FM Soriano & Co. Inc.

MR. HENRY L. CHUA

President

HLC Construction & Dev’t Corporation

8990 HOUSING DEV’T. CORP.

Davao City

MR. MARYLINE L. PASTORIZA

President

Foothills Realty & Dev’t Corp.

MR. REYNALDO B. NAVARRO

General Manager

LS Properties Inc.,

FLORANTE B. DEL ROSARIO

Manager,

Ridge Estate Dev’t. Corp.

MS. MYRNA LYNN R. GILIG

General Manager

Communities (Davao), Inc.

MR. CARLITO C. DUBLAN

President & General Manager

Davao Elite Properties Mktg. Corp./

Primeland Dev’t. Corp

MR. JOSE MANUEL T. ESCALANTE

Regional Operations Manager

Sta. Lucia Realty & Dev. Corp. Inc.

MS. AIMEE MARIE BANGA

Park Manager

Forest Lake Memorial

MR. ALLAN BARQUILLA

Manager

Filinvest Land., Inc.

MR. LORENZO ANG

Ladislawa Village

MR. JOSE MA. L. ESCANO

Pryce Corporation

DMC URBAN PROPERTY DEVELOPERS, INC.

Davao City

LANDO PACIFIC CORP.

Davao City

MR. BERNARDO ARQUIZA

Jireh Land Dev’t Corp.

GENE C. BANGAYAN

Corporate Secretary

Holiday Garden Island Dev’t Corp.

FERMIN C. SOLANTE

Solante Notarial Office

Davao Oriental