Mindanao, the ASEAN Integration and the Role of Cagayan de Oro

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mindanao cdo

 

This article is originally written for the business column called “Out of the Biz Box” which is published weekly in BusinessWeek Mindanao.

The past year’s successes of the thriving city of Cagayan de Oro have been under the eyes of everyone as the city has been awarded and nominated for multiple achievements. This is actually the best answer to those who are repeatedly asking me “Why CdO?” or “Why Mindanao”?

Let’s look at it through the lens. The Department of Science and Technology has awarded the city for its leadership in “electronic readiness”, an award given for the city’s ease and efficiency in business registrations. Then the city has also won the grand prize in the “Liveable Cities Challenge”, a competition organized by the National Competitiveness Council and the US Agency for International Development (USAID), with the partnership of the WWF and Asia Society. At the same event, and that is the real trigger for thought, CdO has been named “Second Most Competitive City” after Makati City, a very important sign for the future. Cagyan de Oro has then also been nominated by the UN Habitat as one of the “world’s cities of tomorrow” during the World Urban Forum in Colombia, the only Philippine city and one of only two ASEAN cities (the other one is Malaysia’s Johor Bahru) in the list. Really not bad at all. I hear that investors from the Northern Philippines and from abroad are undoubtedly eying this region for its great potential.

What to say about real estate? During my private chit-chats with the executives of CBRE and what we can read in their latest report on the Philippine Real Estate industry, they underline that “properties are still going to be a great investment also in 2015” but with a little more care and a special eye on retail and commercial spaces especially in secondary cities where retail, office and actual housing demand remain strong compared to Metro Manila. I read that UBS has echoed the same in their yearend report. The highly growing presence of BPO’s both in Davao and CdO is gifting a whole new generation with jobs and disposable income. Reading this right, CdO as a secondary and multi-awarded city, is the perfect example for an intelligent forward-thinking investment.

What are the predictable economic consequences of the ASEAN integration for Mindanao? One, for sure, is a more direct approach and exchange of communication for trade and services between regional entities and organizations of the member states. These countries are Vietnam, Indonesia, Malaysia, Singapore, Laos, Cambodia, Brunei, Myanmar and Thailand. Companies from these countries will seek a more direct access to Mindanao using its main sea and air ports of Davao and Cagayan de Oro. No Harvard degree necessary to understand that food processing plants, warehouses and re-packing facilities will definitely increase their presence near those main transport hubs at the same time augmenting opportunities for local SME’s to grow business and create new jobs. Growing beyond national borders will be the challenge and opportunity for local businesses.

Another great news for exports came lately by the EU’s decision to grant the Philippines the GSP+ (Generalized Scheme of Preferences), a “zero tariff” privilege for the export of strategic Filipino products into the EU among which pineapple juice, garments, preserved fruits, tuna, fruit jams and jellies and footwear. The Philippines is the only ASEAN country with this scheme. It is up to the smart Filipino entrepreneurs to figure out how many more opportunities there are in the different industries and business sectors. It’s time to make new international ties with other ASEAN countries, the Middle East and the EU, put away those ideas that working abroad is the answer (in fact the neighbor’s garden is not greener at all this time!) and understand that this is the strategic moment in which to dare and bring out the best in us all.

 

For investment opportunities in Cagayan de Oro and Mindanao, go here. 

Uptown Cagayan de Oro: A Lifestyle Haven in Northern Mindanao

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This article originally appeared in BusinessWeek Mindanao February 4 issue in the column Out of the Biz Box.

uptown cdo primavera

I was first introduced to CdO in October 2011 when I was invited by a delegation of foreign entrepreneurs and Filipino business owners. I flew to the “Garden of the Philippines” without any expectations and as open minded as possible. Family, friends and neighbours were very dubious about me flying to Mindanao with all the stories we get to hear in national and international media but such things never had too much effect on me. After 5 years spent living in the Middle East I could tell the difference between common belief and reality. The fact that there was a renowned Italian Architect building a classy condominium was reason enough for me to be confident and start my travel with a healthy enthusiasm.

My travel companion was an American seasoned real estate professional with years of rewarding experience in California for one of the biggest international agencies like CBRE. He knew the ins- and outs of land and community development thanks to his 25 years of experience in real estate. Both actually had lots in common and shared our near to similar horror stories with our respective ex-wives so we got on very well and could relate to each other.

After landing at the old Lumbia airport we visited the city in downtown, the port facilities and then got back to Pueblo de Oro Business Park in Uptown, saw the golf course, SM and the then lonesome showroom of Primavera Residences which had just started construction back then. After driving around Uptown all afternoon I noticed a strange sparkle in my American companion’s eyes. He knew that this was the place to be, the place to invest and the place to focus on in town.

After 4 years and extensive travel in the region I realise that my American companion was absolutely right. Uptown is indeed the Makati of Northern Mindanao, still underrated though but well recognized by those who count and can afford to live in upper class communities like Xavier Estates. Be it the Filipino family or the retired foreigner, if lifestyle is to be identified with good air, flood-free, spacious communities, accessible shopping facilities, little or no traffic and lots of nature then Uptown is the place to be. I also realised that CdO enjoys the best weather of the Philippines and is at the same time served by the freshest fruits and vegetables from Bukidnon. Hospitals are equipped and competent so there is nothing missing in town. No wonder there are plenty of elderly foreigners populating the subdivisions there with their families and/or Filipino wives/husbands. Americans, Germans, Swiss, British, Italians, Koreans, Japanese and even Indians are clear proof of where the Western standard has set itself to be.

There are rumours that several lots in Uptown’s Pueblo de Oro are going to be developed with new office and residential buildings which will bring even more life into the already thriving community. Every morning and evening people are flocking to Pueblo near SM to run, cycle, play volleyball and gather among friends as it is literally the only place that offers ample spaces. On weekends there are even families gathering for picnics among other physical exercise and it’s all good signs of a breeding community. Events, shows and exhibitions are also being held at SM.

Beyond barangay rivalries you can now hear young people saying: “I am from Uptown” giving it a new sense of identity for the Uptown citizen. I would not be surprised to see an Uptown basketball or soccer team rising soon. This should bring new wind to the sails of the Uptown stakeholders and all those entrepreneurs thinking of setting up businesses in the area. With BPO’s thriving all over the Philippines and Savills even thinking of opening a CdO office, the time is right to take Uptown to the next level. The successful example of Primavera Residences bringing new condo lifestyle to the city and representing the very first condominium in town will drag more investors to the community. There is nowhere else to be identified as the place where superior lifestyle marries with modern design and accessible shopping facilities. I am aware that there is still some people who prefer the chaotic, polluted and flood prone downtown but for me Uptown is the place to be.

 

ITPI CEO Represents PH in “Asia as a destination for Russian and CIS Wealth” Summit 2014 in Singapore

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Russian Summit_mix

Industry experts in wealth management, banking, fund management, trust services, real estate, gold and diamond trading as well as arts and wine investors from all over Asia, Russia and CIS countries gathered in an International 2-day Summit in Marina Bay Sands Convention Center, Singapore on 18th and 19th November.

Representing the Philippines is Arch. Romolo Nati, the chairman and CEO of Italpinas Euroasian Design and Eco-development Corporation (ITPI) who has been invited to the summit as a resource speaker and part of the panel discussion on areas for investing in Asia.

The summit sought to identify the opportunities and how to make the most out of the extraordinary growth that Asia offers. Presentations, panel discussions and seminars were held with prestigious personalities and industry leaders from all over the world in attendance. Experts in various fields also offered their view about investments in banking and insurance products, agricultural assets/funds and real estate assets and development, vault stored gold bullion and diamonds including investments in rare whiskeys and prestigious wines.

 

Asia, the birthplace for the world’s future middle class

 

International financial research and investment firms like Knight Frank presented their 2014 Wealth Report, affirming that Asia is to be the birthplace for the world’s future middle class. According to the study, Asia will be producing most of the new billionaires in the next 40 years to come.

“The global investment community is definitely now looking with a very interested eye at this big and growing market with Singapore and Hong Kong taking the leading role as the region’s financial hubs,” says Mr. Lorens Ziller, Chairman of Multiplata Investments. “Investment banks, funds, private investors and HNWI are structuring to operate into a wider range of countries like Myanmar, Vietnam, Indonesia, Philippines and India which seem to guarantee a substantial growth for quite a number of years to come.”

Those markets are driven especially through a high population growth and domestic consumption as well as government infrastructure spending. For real estate, the housing, office space and retail space requirements in these countries are quite substantial, especially the opportunity to “develop in secondary cities in the Philippines” as Arch. Romolo Valentino Nati, chairman and CEO of Italpinas and Philippine advocate remarked during his panel discussion.

“Italpinas aims to build in alternative locations with a real housing demand and where a sustainable green modern design brings innovation and offers an affordable luxury and lifestyle to the upper middle-class of the Philippines,” Nati added.  “The company’s flagship project, Primavera Residences, is the first of its kind in Cagayan de Oro City, Philippines, setting the bar for condominium projects in the area with its modern Italian design infused with eco-friendly architecture.”

According to Mr. Alexander Karolik Shlaen, chairman of Panache Management in Singapore, “Asians love to invest in real estate assets as a form of security and further investments from HNWI from all over the world is driving residential real estate prices in Singapore and Hong Kong”. WealthX, a research agency of wealth generation and migration, have shown research data that still only a small percentage of capital in the biggest financial markets is allocated to Asia (only a total of 2% from the US and almost the same from Europe). That means there is more to expect.

 

Positive outlook for the region

 

With ASEAN integration becoming a reality soon, the overall outlook is more than positive. Increased cross-border transactions are opening the gates more and more to secondary Asian financial markets like Indonesia and Philippines which still have a low number of listed companies and IPO’s, thereby offering interesting opportunities for foreign investors.

UBS, one of Switzerland’s most important banks, as well as Citibank, have established a special desk for Russian and CIS investments in Singapore. According to statistic data, investment from Russia and other CIS states are increasing drastically. Many experts at the Summit agree upon, that “this is not even the beginning” and we may expect an increasing influx of investment capital in the region in the years to come. The organisers, also picking up on ideas that were shared during the event, are already planning the next summit to be even more interesting.

Group photo Russia Wealth Summit SG14
(From L-R) Arch. Romolo Nati, Mr. Lorens Ziller of Multiplata Investments, Ms. Jenny Zhu HuiMin of Gallery NaWei, Singapore and Mr. Aexander Shlaen of Panache Management

 

To know more about Primavera Residences, the country’s premier eco-friendly mixed-use development, visit www.primaveraresidences.com or call 088-880-5002. 

 

Lamudi Shares 4 Reasons Why You Should Teach Your Kids About Real Estate

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They may not be buying their first home anytime soon, but teaching kids about the value of real estate can help secure their future. 

Financial advisors always say: “It’s not how much you save, but what’s important is you start saving early.”

The same goes with teaching Filipino kids about real estate: the earlier, the better. All parents want their children to succeed in life. One way to do this is to teach them to appreciate the importance of real estate. Although owning a house may not be the most crucial ingredient for being successful, it will sure help them achieve financial independence, not to mention it will provide security for their future family.

Teaching them early about real estate also allows them to understand the hard work, challenges, and compromises involved in finally affording to own a home, but most importantly the perks that come with it. So when the time comes when your kids have to spread their proverbial wings and fly out of the family nest, they will be ready.

To guide Filipino parents, Lamudi Philippines compiles a list of reasons why it is important to educate our kids about real estate.

 

  1. They Learn the Value of Hard Work

 

Growing up in a household with baby boomers as parents who place home-ownership in high esteem, many of us learned that owning a home is not as easy as it seems, but that it is very achievable if we work hard for it. Many of my peers casually jump from one job to another—or worse, resign from their jobs just because they feel like doing it—and this has huge implications on their financial standing. Many of them take years to finally sort out their finances to get approved for a housing loan, which could have been avoided easily if they understood the importance of job stability very early on.

 

  1. They Learn How to Negotiate

 

If one is buying real estate, he or she can seek the advice of a licensed broker or even a lawyer get good insight into fair and reasonable price. But then it will be up to the buyer to negotiate the price with the seller. Oddly, many people are not comfortable with the idea of negotiating; however, if we do not negotiate, we stand to lose a lot of our hard-earned cash. But teaching kids about real estate, you also teach them the importance of negotiating. It helps them gain confidence to walk away if a deal simply is not favorable. This will help them a great deal in life as well, as negotiating is part and parcel of our dealings every day (salary, for instance).

 

  1. They Learn the Importance of Good Credit Standing

 

I am sure many of us saw our friends and relatives wallow to the burden of credit card debts, and how many of them were unable to get a mortgage due to dismal credit standing. This prevented many from owning homes. If children are taught real estate at an early age, they will understand how compromises will have to be made in order to remain financially stable, which is the first step up the property ladder.

 

  1. They Learn to Plan for the Future

 

If parents teach their kids the importance of real estate, we are teaching them the importance of planning for the future. Although parental instinct pulls most parents to assist their children in any way possible to move up the property ladder, this only teaches them to be overly reliant. What parents can do is nurture their independence and teach them the value of hard-earned money.

 

Preparing kids with the necessary tools to help them find the road toward financial independence and home-ownership is one of the most valuable lessons any Filipino parent can give. This will in fact be more valuable than cash gifts or financial support, as it will enable them to manage their own finances and stand on their own feet well into the future.

Lamudi is the Philippines’ fastest-growing online property portal and is currently available in 28 countries in Asia, the Middle East, Africa and Latin America, with more than 500,000 real estate listings across its global network. Primavera Residences, the first multi-awarded eco-friendly property in Cagayan de Oro, is one of the properties presently listed in Lamudi.

(Article source: Lamudi PR)

To know more about Primavera Residences, visit www.primaveraresidences.com or visit the listings on Lamudi.com.ph here.

Top 5 Tips for Emerging Markets Property Investors

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Leading real estate marketplace compiles guide to investing in emerging countries

Primavera Residences (1)

 

The world population is growing at a rapid pace, adding about 150,000 people each day. By 2050 there will be a world population of approximately nine billion people. The largest share of the fast-growing world population is coming from emerging markets in: Africa, Asia, Latin America and the Middle East.

At the same time, these regions are driving global economic growth. The International Monetary Fund has forecast that over the coming years, around 70 percent of world growth will come from developing countries. With this trend comes a range of opportunities for emerging market investors, as sectors such as construction and housing see rapid expansion.

As interest in these regions grows, leading property platform Lamudi lists five tips for real estate investors looking to enter these markets.

  1. Familiarize Yourself with Local Laws and Restrictions

Before investing in emerging real estate markets, investors should gather accurate information about the laws and restrictions that are specific to the country. Foreign investors face restrictions on buying property in some emerging countries. In the Philippines, for example, international buyers are prohibited from owning land but they can purchase condominium units, so long as foreign ownership in a single project does not exceed 40 percent. Make sure you check official government information and get in touch with local lawyers, as well as regularly reading the news to stay up to date on any developments.

  1. Take a Long-term View

Take the time to watch the real estate market and closely examine the long-term outlook before investing. Within regions that are subject to volatility, it is especially important not to rush into a final decision. Instead, try to take a long-term view of the market outlook. Property investments are always long-term decisions that must be well informed, but this is particularly true in emerging markets that are highly perceptible to change. The best way to be prepared is to use independent, verifiable sources that offer local and national information.

  1. Find Local Partners

Finding a suitable lawyer, translator, or certified local real estate broker who can be your contact on the ground is necessary in order to navigate the local market. Choose people who are experts in their field and have the local knowledge you need to be successful in the market. This will save you time and money in the long run.

  1. Build a Diverse Portfolio

There are constant price fluctuations in property markets around the world, but emerging markets can be particularly volatile. Therefore investors need to be flexible and able to quickly adapt to the changes. Investing in a diverse range of property in different regions and also different countries can help balance against these fluctuations in the market. Adaptability is the key to long-term success.

  1. Be Understanding of Cultural Differences

This applies to anyone looking to do business in a country other than their own. If you are planning to visit the country in which you are looking to invest, research local cultural practices and customs before your arrival. Something as small as how to introduce yourself in a business meeting can vary widely from country to country. In Myanmar, for example, where business etiquette is informed by the prevalence of Buddhism, traditions such as removing your shoes before entering a private home are still commonplace. Being aware of these differences from the beginning will help you to avoid any issues of miscommunication.

Lamudi is the Philippines’ fastest-growing online property portal and is currently available in 28 countries in Asia, the Middle East, Africa and Latin America, with more than 500,000 real estate listings across its global network. Primavera Residences, the first multi-awarded eco-friendly property in Cagayan de Oro, is one of the properties presently listed in Lamudi.

(Article source: Lamudi PR)

To know more about Primavera Residences, visit www.primaveraresidences.com or visit the listings on Lamudi.com.ph here.

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Tower 2 Construction Updates as of November 2014

Posted by Jane on

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As of November 5, 2014, Primavera Residences Tower 2 continues its steady rise. Currently, the second tower of the country’s premier eco-friendly building is already approaching 77% completion.

Ongoing plastering works are being done in the interior of the 3rd to 5th floors while masonry works are now being accomplished at the 6th to 9th floors.

See below some of the latest construction photos.

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8th floor interior works
9th floor
9th floor masonry works
exterior roof
exterior

Completion of the second building is targeted at the first quarter of 2015.

For more details about Primavera Residences, visit www.primaveraresidences.com or call (+63) 088-880-5002. 

 

A Round Up of October News and Events at Primavera

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As we approach the final months of 2014, Primavera Residences is proud to offer more good news, promos, events and opportunities not only for Kagay-anons, but for Filipinos and investors all over the world. The month of October is an especially busy month with exciting events and offers that spans Northern Mindanao and the Philippines, Singapore, and even Rome, Italy.

Here is a look at the news and events last October.

1. Primavera Residences architect joins World Architecture Festival

Italpinas’ Architect and CEO Romolo V. Nati represented the Philippines in this year’s World Architecture Festival, a prestigious annual event celebrating the architectural marvels in the world. The three-day event is also a global competition that seeks to honor the best in building design. It happened last October 1 – 3 in Singapore, with Arch. Nati giving a talk on Resilient Developments for Vulnerable Environments focusing on the Philippines during the second day of the event.

Arch. Nati was also elected as one of the judges for the shortlisted entries under the House category. Joining him at the festival is ITPI President Atty. Jojo Leviste.

In his talk, Nati stressed the importance of high-performance design in buildings in order for it to be sustainable and at the same time reduce the impact on the environment.

RVN-JDL-at-WAF2014

 

The event was well-covered by the media with stories appearing in the following publications and online news sites:

2. Primavera joins mangrove-planting activity in Bonbon, Cagayan de Oro

Last October 11, the Primavera Residences team joined the mangrove planting activity conducted by Philippine Air Force TOG 10 and students from the Misamis Oriental General Comprehensive High School (MOGCHS). As the first eco-friendly building in Cagayan de Oro, Primavera Residences advocates environmental protection and conservation, and is therefore, honored and happy to support the activity.

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The activity was featured in local news such as the article below from BusinessWeek Mindanao.

mangrove1Other news features:

3. OCTOBER FEVER promo

As a treat to condo buyers, Primavera offered up to Php 100,000 worth of freebies. In a regular package, buyers get unfurnished units with inclusions of tile floorings, painted walls and ceilings, fitted kitchen sinks, bathroom fixtures, electrical wirings and outlets; however, the October Fever promo gives buyers a chance to earn savings of up to P100k with a FREE set of Kitchen Modular Cabinet and its installation.

Watch out for more exciting promos to be unveiled this month!

The October promo was also featured in several news sites and publications including the following:

4. Halloween events

With the city gearing up for its annual Halloween celebrations, Primavera Residences also lined up different Halloween-themed activities including an online pet costume contest in partnership with the city’s premier pet store, PetPerk Grooming Services, a carnival-themed pre-Halloween open house, and a costume party for the entire Primavera Sales Office team.

Below are some photos and media mentions of these activities.

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Bradd the Witch emerged as this year’s winner of the #HOWLoweenPAWty photo contest

More of the story here and in media mentions below.

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Pre-Halloween Carnival Open house event

5. Primavera Residences goes to Camiguin

On October 22 – 23, the Sales and Marketing team of Primavera Residences together with Caminade realty visited the island of Camiguin for a series of activities. Read more about the beautiful island of Camiguin here.

The activity was also featured in the following news sites and papers.

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6.  Primavera’s Arch. Nati joins Rome business event, promotes PH and CDO investments

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Italpinas’ multi-awarded architect and CEO, Romolo V. Nati, attended a business event in Rome last October 18, 2014 with the theme “Business Meeting to stimulate and strengthen the cultural and trade exchange between Italy and the Philippines”.

The meeting at Luigi Pigorini Museum, Piazza G. Marconi 14 in Rome was sponsored by the Embassy of the Republic of the Philippines in Rome, headed by Ambassador S. E. Virgil A. Reyes Jr. and organized by Mrs. Marie Luarca-Reyes of ENFiD.org, Michele Piacentini of LESARTISTES.it with the coordination of the Study Legal Cardia.

This story also appeared in the following news:

7. Primavera Residences hosts City Tourism Council meeting

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Last October 24, the Cagayan de Oro City Tourism Council visited Primavera Residences and were introduced to the developer and given a tour of the property.  Present during the event were Ms. Eileen San Juan of the City Investment Promotions Office and City Tourism personnel among other special guests.

Other events at Primavera Residences last October include the Google Educators Group’s Teacher Appreciation Day last October 25 and the Primavera Sales team’s 1920’s themed Halloween celebration last October 31.

Follow Primavera Residences in Facebook or visit www.primaveraresidences.com to stay posted with news and events from the country’s premier eco-friendly property.

 

Research: Majority of House-hunters are Women

Posted by Jane on

primavera lamudi blog

A recent research made by Lamudi compared the profiles of home-buyers all over the world. The report shows that in emerging countries like the Philippines, big decisions such as looking for a new home fall on the women’s shoulders.

The research was made by analysing search behavior and insights on the Lamudi website.

Other results of the study are the following:

  • Home buyers in the Philippines belong to the 34-44 age bracket
  • 69% of Filipinos prefer to rent than buy property
  • Of the countries included in the research, the Philippines has the highest percentage of growth in property prices at 10.56%

You can view the rest of the article HERE.

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Lamudi is the Philippines’ fastest-growing online property portal and is currently available in 28 countries in Asia, the Middle East, Africa and Latin America, with more than 500,000 real estate listings across its global network. Primavera Residences, the first multi-awarded eco-friendly property in Cagayan de Oro, is one of the properties presently listed in Lamudi.

To know more about Primavera Residences, visit www.primaveraresidences.com or visit the listings on Lamudi.com.ph here.

How Will the ASEAN Integration Affect Philippine Real Estate?

Posted by Jane on

primavera lamudi blog

This post originally appeared in Lamudi.com.ph as part of the #AskLamudi series. 

 

Q: How Will the ASEAN Integration Affect the Local Real Estate Market?

A: The ASEAN Economic Community (AEC)—the fusion of the economies of the 11 member-states of the Association of Southeast Asian Nations (ASEAN), to take place in 2015—is expected to bring four changes to the Philippines’ real estate sector.

1. Stronger demand for commercial, industrial, retail, and residential space.

Since the AEC envisions unimpeded movement of goods, services, and skilled labor, as well as a freer flow of capital among the ASEAN member-states, businesses from abroad are expected to expand their operations in the country. There would be more need for office, industrial, and residential space for these foreign investors.

The elimination of tariffs on goods and services is also foreseen to result in a wealthier Southeast Asia. With a higher disposable income, people would have more money to spend, thus the need for more malls, retail complexes, and other shopping developments.

2. Emergence of new growth areas.

Places other than Metro Manila and Cebu may need to be tapped to meet the demand for business and residential space, leading to the emergence of new economic hot spots. Among the possible growth areas are Iloilo, Cagayan de Oro, Angeles and San Fernando in Pampanga, and General Santos City.

3. More—and better—construction projects.

High demand plus a strong inflow of capital will make construction companies race to build the infrastructure, offices, retail complexes, and residential developments that a booming economy needs. The increased mobility of skilled labor would also allow the exchange of best practices in the ASEAN region, leading to better urban design and development.

4. Changes to the prohibition on foreigners from owning land.

With the influx of foreign investment that the AEC will bring about, the Philippines is almost certain to face pressure to amend the Constitution’s prohibition on non-Filipinos from owning land. With the lifting of the prohibition, many expect that the country’s foreign direct investment will soar to a new high.

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Lamudi is the Philippines’ fastest-growing online property portal and is currently available in 28 countries in Asia, the Middle East, Africa and Latin America, with more than 500,000 real estate listings across its global network. Primavera Residences, the first multi-awarded eco-friendly property in Cagayan de Oro, is one of the properties presently listed in Lamudi.

To know more about Primavera Residences, visit www.primaveraresidences.com or visit the listings at Lamudi.com.ph here.

 

Cagayan de Oro Developer Joins Rome Business Event, Promotes PH and Cagayan de Oro Investments

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Rome event
ITPI’s Architect Romolo Nati together with Philippine Ambassador S.E. Virgil Reyes (middle)

 

 

Italpinas’ multi-awarded architect and CEO, Romolo V. Nati, attended a business event in Rome last October 18, 2014 with the theme “Business Meeting to stimulate and strengthen the cultural and trade exchange between Italy and the Philippines”.

The meeting at Luigi Pigorini Museum, Piazza G. Marconi 14 in Rome was sponsored by the Embassy of the Republic of the Philippines in Rome, headed by Ambassador S. E. Virgil A. Reyes Jr. and organized by Mrs. Marie Luarca-Reyes of ENFiD.org, Michele Piacentini of LESARTISTES.it with the coordination of the Study Legal Cardia.

During the recently conducted meeting, Architect Nati talked about how he started promoting green developments in the Philippines and discussed to the Italian business community the favorable business and economic climate for Italian investors.

“As a developing country [Philippines], the success rate in investments is actually above average. Since 2006 to 2013, there is a rising middle class population. This results to a high demand on housing, providing a great opportunity for real estate companies,” Architect Nati said.

Italpinas, a joint venture success story

Since ITPI started in 2009, CEO Architect Nati believed that investing in the Philippines could bring about successful and mutually beneficial partnerships for both countries.

“I am glad that the Philippine Embassy in Rome considers Italpinas a success story and a prime example of a joint venture between the Philippines and Italy. The Philippines is a growing country and I am inspired to continually encourage the Italian companies to see the good opportunities in the Philippines,” Nati expressed.

“The success of Italpinas especially our premier green project in Cagayan de Oro Primavera Residences, is an example of a fruitful collaboration. As a multi-awarded and well-recognized development, the company is doing good and will continue producing eco-friendly developments in alternative cities.”

Italpinas Euroasian Design and Eco-development Corporation (ITPI), is an Italian-Filipino green property developer that specializes in sustainable development. Its first project is Primavera Residences, the first eco-friendly condominium development in Cagayan de Oro which has been awarded as the Best Mixed-Use Development in the Philippines by the Asia Pacific Property Awards.