A DIFFERENT real-estate industry—one that will find a way to rise amid all the challenges and come out more resilient than ever—will emerge in the “next normal,” according to Filinvest.
The company’s officers shared this sentiment with other industry experts during the recent Asia CEO Real Estate Forum, which explored how the entire property sector navigated the worst of the Covid-19 crisis, as well as the new market trends and consumer behaviors after the pandemic.
“With the survival experience acquired during the last 21 months, we now find ourselves more prepared and capable of sustaining business growth,” said Tristan Las Marias, executive vice president and chief strategy officer of Filinvest Land Inc. (FLI).
At FLI, for instance, he cited that working together helped them become stronger and their employee’s sense of family made the tough days feel easier.
He noted that the ensuing health crisis is so far the biggest predicament that the Filinvest has faced and overcome in its 66 years in the business—thanks to its diversification strategies and financial prudence.
The group’s equal geographical presence was a vital strategic factor to recover faster. Per Las Marias, they can brace and get through the next disruption through technology and people.
Meanwhile, Filinvest REIT Corp. (FILRT) President and Chief Executive Officer (CEO) Maricel Brion-Lirio discussed how companies like FILRT have already embraced a more human-centric approach in confronting the ill effects of the pandemic, as well as the importance of gaining locator confidence, among others.
“To continue the steady pace of recovery, especially in the real-estate industry, it is important to gain back the confidence of global locators. We must also aggressively pursue sustainable green and digital initiatives, so we can ensure the business longevity of all stakeholders. The key in gaining locator confidence is by crafting a solid strategy that highlights the key strengths of the facility which our office buildings in FILRT have,” she said.
For James Montenegro, country manager of Chroma Hospitality, which operates the group’s hotel brands like Crimson Hotels and Resorts + Quest Hotels, they had to learn how to recalibrate, recover, and rebuild during the pandemic.
“We saw the challenges we went through as opportunities to push ourselves further and learn more about our guests, their needs, and the best ways we can keep them safe. It was during these hard times that we truly got to live out our company slogan—Driven Hospitality, which we achieved by working and rising together,” he said.
Reflecting on today’s situation, FLI Chief Sales and Marketing Officer Vince Abejo cited this period as a “test of resilience, leadership, and community.”
“Almost two years after the Covid-19 first hit our country, the story is now different. We, at Filinvest, are definitely more optimistic about the near future. The narrative is flushed with anecdotes of business rebound as more people are traveling and mobility has returned and is slowly stirring economic activities,” he noted.
Bullish on what lies ahead of the industry, Filinvest President and CEO Josephine Gotianun Yap underscored that developers must infuse the concept of sustainability in whatever undertakings they have henceforward.
“We started our sustainable business back in 2017 when sustainability wasn’t such big of a buzzword as it is today. But I felt it was the right way to go. The real sustainability projects that companies should go into are the ones that make financial sense, so it’s a win-win situation for all shareholders. We are optimistic about the future of real estate in the country in 2022 and the coming years,” she stressed.