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PropTech to revolutionize real estate

OCTOBER 15, 2021

We have recognized how vital technology is in driving industries forward, pushing growth, and creating sustainable and effective solutions for every business sector. Moreover, we understand that adapting to technology and innovation has become the standard solution for all businesses as it is still uncertain when we can go back to normal. We have seen many institutions, companies, and organizations shift to digital and technological solutions to adjust to the new normal.

The real estate industry might be significantly affected by the prolonged pandemic. Still, it proves that it can catch up and be one of the most dynamic sectors by integrating technology and maximizing digital opportunities in business operations through the PropTech Consortium of the Philippines.

Coming out at the most appropriate time, PropTech Consortium of the Philippines is a collaboration among different sectors and industries with the aim of uplifting the societal quality of life by integrating sustainable, smart, resilient, and innovative technologies into real estate.

PropTech comes from the words ‘property’ and ‘technology’. It is the innovative strategy and transformative approach that optimize every transaction and activity of landlords, tenants, property owners, developers, and investors. It encompasses the efficient systems and software platforms to manage the consumption patterns related to renting, buying, and selling property—whether commercial, residential, or industrial.

The existence of PropTech Consortium of the Philippines allows the companies, businesses, and organizations to become more efficient and to maximize their investments to boost growth and progress in real estate. Furthermore, this initiative will bridge gaps such as the limited movement for site inspections, meetings, and negotiations due to restrictions, because it supports the use of a virtual platform and digital marketing to continue business operations. In addition, PropTech opens endless possibilities for real estate practitioners as they can reach out to a bigger number of digitally connected citizens.

Several industry experts gathered together during the launch of PropTech to discuss the future of real estate in the Philippines. The inauguration of PropTech Consortium was graced by PropTech Chairperson and Founder Emma Imperial; Founder and Director Amor Maclang; International Finance Corp. (IFC) Philippines Country Head Jean-Marc Arbogast; Department of Finance Secretary Carlos Dominguez III; Organization of Socialized Housing Developers of the Philippines Chairman Marcelino Mendoza; NEO Chief Executive Officer Raymond Rufino; UBX President and CEO John Januszczak; Asia Pacific Cities, AECOM Vice President Sylvester Wong; Multisys Tech Corp. Founder and CEO David Almirol; PDP Architects CEO and Managing Partner Cathy Saldaña; National Home Mortgage Finance Corporation President Carlo Luis Rabat; Energy Regulatory Commission Chairman Agnes Devanadera; Department of Human Settlements and Urban Development Secretary Eduardo Del Rosario; Damosa Land President Ricardo Lagdameo; AboitizPower Distribution Utilities Senior Vice President and Chief Operations Officer Anton Perdices; Bankers Association of the Philippines President Wick Veloso; Union Bank of the Philippines Vice Chairman Dr. Justo Ortiz; and representatives from the Subdivision and Housing Developers Association (SHDA), the Philippine Solar and Storage Energy Alliance (PSSEA), the National Real Estate Association (NREA), the Association of Structural Engineers of the Philippines (ASEP), Organization of Socialized Housing Developers of the Philippines (OSHDP), and Philippine Retailers Association (PRA).

In the first board meeting early this month, Sylvester Wong was elected as PropTech’s new President. Emma Imperial will continue to serve as its Chairperson. Other founding directors will lead the following committees: Josephine Romero for Membership; Cathy Saldaña and Ricardo Lagdameo for Learning and Development; Amor Maclang, Ron Hose, and Justo Ortiz for FinTech; and yours truly for Ways and Means.

With the Philippine Retailers Association (PRA) as partner organization, PropTech is committed to promoting sustainable, smart, and innovative technologies in property development. We commit to identifying policies that will promote property technology in the retail industry and will support pioneering ways and new systems in the real estate industry in general.

As its president, I can say that the PRA continues to seek a sustainable future for retail. We are relentlessly working together and collaborating with various industry partners to exchange best practices, strategies, and resilient solutions that can help us thrive and win as a society and as a nation.

Indeed, the digitalization of the real estate industry answers the call of the times, addresses some pandemic-induced challenges, and improves the standard of living of the Filipino people.

We have modern technology on our side and we must always believe in its power and capacity to transform and improve the way we live, study, work, and the way we do business.



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