THE recent launching of the PropTech consortium came at the most appropriate time as it will provide the solutions facing the local real-estate industry, and at the same time propel it to bigger growth in the coming years.
“It is well-placed to address the challenges facing the industry such as design, finance, environmental impact among others,” International Finance Corp. (IFC) Philippines country head Jean-Marc Arbogast said in his speech during the launch via Zoom of the PropTech Consortium of the Philippines.
He said IFC Philippines has always been supportive of PropTech consortium’s objectives because it always believes in the power of technology to transform societies for the benefit of the majority.
PropTech Consortium of the Philippines is a collaboration between different sectors and industries aiming to uplift the societal quality of life by integrating sustainable, smart, resilient, and innovative technologies into real estate.
Through its Excellence in Design for Greater Efficiencies (EDGE) standard and with property technology (Proptech) gaining ground in the country, Arbogast said iFC can scale up the design to achieve a green and resilient transformation. “EDGE can unlock the huge development in developing green energy of housing projects in the country,” he said.
With EDGE-certified homes, the IFC said a project will get bigger value and develop to be a better brand. It also enables developers to select the right solutions in a given climate to ensure quality and the protection of the environment.
In his keynote address, Finance Secretary Carlos Dominguez III said the creation of the consortium is definitely a recognition that this is an exciting development for the industry. “This is an exhilarating development for PropTech Consortium as this signals the inevitable march of the industry towards the digital age,” he said.
Dominguez pointed out that he has been a long-time advocate of digital transformation because digitalization has introduced changes for the benefit of the majority. By going digital, he stressed the real-estate industry will be able to reach out to a bigger number of digitally empowered citizens. “The policies created by the Duterte administration will create a resilient, connected and progressive real-estate industry,” he underscored.
On her part, Energy Regulatory Commission Chairman Agnes Devanadera described the creation of the PropTech consortium as a “stroke of genius” as it is a response to the times calling for digital transformation and mitigating the impact of climate change.
The call for digital transformation is a response to the call of the times to confront the challenges caused by the pandemic.
She said property and energy go together as homes are using a lot of energy especially in these times. “They have a symbiotic relationship that indicates one can’t move without the other,” she said.
On her part, PropTech Consortium of the Philippines Cofounder Emma M. Imperial said in her speech that PropTech will promote sustainable and resilient property development in the country.
“Property innovation is what we need to improve the standards of living of the Filipinos,” she said.
She recalled that her journey in the use of technology which started in 2011 was met with doubts and criticisms regarding her idea of incorporating solar solutions to the affordable housing market. “I indeed walked the less traveled road overcoming numerous roadblocks along the way,” Imperial, also president and CEO of the country’s first PropTech developer, Imperial Homes Corp. (IHC) stressed.
Nevertheless, Imperial carried on buoyed by the overwhelming support from organizations and institutions locally and globally. Moreover, the positive response of the market bolstered the company’s passion to pursue technology integration on their property developments. In 2018, IHC introduced Connovate, an innovative high-performance concrete panel technology providing fast construction, resilient, sustainable and eco-friendly homes.
Imperial said the two innovative solutions delivered quality life standards both in reduced bills 30 percent to 70 percent while Connovate offered countless savings from speed of construction, maintenance and home repairs and even medical expenses from its molds-free properties.
Imperial cited the vital role of technology in facing the challenges of Covid-19. She said their housing and digital technology such as cutting-edge software applications helped them bounce back.
“We became a proud recipient of the Advance IFC EDGE certificate; also, the IFC Building Resilience Index [BRI] model to the world for affordable housing. We also became the first recipient of Green Financing,” she said.
“PropTech will recalibrate the real-estate industry towards digital advancement to create more modern, applicable, and efficient methods, processes, and policies. It will create a transformational impact on properties, environment, finance, government, economy, homebuyers, and developers bridging gaps and boosting growth and progress in the real-estate industry.”
Finally, she urged members of the consortium to adopt the Whole of Nation, Whole of government approach, transcend politics and foster greater synergy to battle climate change, promote sustainable and resilient properties that will make for a better Philippines.
Other participants in the virtual event included Marcelino Mendoza, chairman of the Organization of Socialized and Economic Housing Developers of the Philippines; Carlo Luis Rabat, president of the National Home Mortgage Finance Corp.; Sylvester Wong, vice president of Asia Pacific Cities, AECOM; Ricardo Lagdameo, president of Damosa Land; Raymond Rufino, chief executive officer of NEO; John Januszczak, President and CEO of UBX; and Dr. Justo Ortiz, vice chairman of the Union Bank of the Philippines.