Century Properties Group Executive Chairman Jose E.B. Antonio represented the Philippines in early September at the APREA Asia Pacific Property Leaders’ Summit in Shanghai, China, where business leaders discussed investment hotspots in Asia as well as the future of real estate in the region.
Themed “The Future is Asia,” the three-day summit from September 3 to 5 was organized by the Asia Pacific Real Estate Association (APREA) and attended by more than 150 delegates from different countries to share some valuable insights about trends and issues influencing the real estate in Asia Pacific.
Antonio, who is also the Chairman of the APREA Philippines chapter, joined the panel session “New REIT Opportunities: India, China, Philippines and Malaysia.” He said that the timing is right for the Philippines to implement a Real Estate Investment Trust (REIT) structure on the back of bullish property industry, a strong economy, a booming population with a median age of 24 years old, and aggressive government infrastructure projects.
REITs will provide Philippine developers new capital to expand and deliver high-value real estate projects. It will also allow the investing public access to Philippine real estate, such as an office and commercial leasing portfolio, which companies like Century Properties Group is continuously growing given the strong demand for office space in the country.
The REIT race in Asia is heating up and plans are already in motion in China, Indonesia and the Philippines that could herald a new era for the region. Even in countries with established REIT markets, frameworks are being reviewed to ensure that the asset class continues to thrive, according to APREA.
Antonio (second from left in the photos) was joined by (from left) Rico Chan, Head of Hong Kong/China and Asia, Real Estate Group and Head of GBA Practice, Baker McKenzie; Hei Ming Cheng, Founder & Chairman, KaiLong Group; Mike Holland, Chief Executive Officer, Embassy Office Parks; Ambassador Anthony Ang, Chief Executive Officer, Sasseur REIT; and Dato Stewart Labrooy, Chairman, Executive Chairman of AREA Management Sdn Bhd.
The APREA Asia Pacific Property Leaders’ Summit brings together industry leaders and market experts to discuss strategic challenges and the hottest market trends driving technology and finance, key investment strategies and government initiatives in Asia Pacific. #