Property developer forays into full-scale projects
My HomeTown Realty & Developer Inc., which is behind the one-stop shop Real Estate Hub, will expand its pocket-size real property development to a full-scale subdivision and condominium in two years.
Company president Mary Gaw-So told reporters at the launch for the “REHub Real Estate and Tourism Expo 2014” on September 5-7 at the World Trade Center that the first REHub Expo will gather the country’s largest real estate brokerage marketing companies in joint activity with the Philippine Institute of Real Estate Service Practitioners (PhilRes) Inc.
“We plan to go into subdivision and vertical property developments in a couple of years,” Gaw-So said.
At present, the company has a few pocket-sized property developments, like townhouses.
My HomeTown Realty, which has been in real estate business for the past 18 years, has also decided to consolidate all its services with the creation of the REHub Real Estate Inc. to provide a one-stop shop for real estate and allied services such as brokerage, appraisal, consultancy, property auction, property development and management, documentation, and all allied services.
At present, REHub serves as the marketing arm of 20 real estate projects from various developers. These projects have estimated sales value of P24 billion. So said its most expensive luxury condominium is sold for P100 million.
According to Gaw-So, the overseas Filipino workers account for as much as 40 percent of its total sales.
With the ASEAN integration by 2015, Gaw-So said her company has also partnered with Huttons MHT of Singapore, the number one in real estate project selling in Asia with a portfolio of 70 projects, to ensure cross selling of real estate products.
For the REHub Expo, Gaw-So cited the timing of this event as investors have been looking into emerging Asia as an alternative market for real estate and tourism as a way to minimize risks.
“Tourism these days is dependent on property development and the exploitation of resources needed in the construction and building process. It is vital that there is harmony between the real estate sector and the tourism industry as we move towards embracing future mega projects,” Gaw-So said.
The event will also provide added knowledge to the industry players to strategize their real estate business and profession on how to be competitive considering the challenges of cross border trading with their counterparts in Asean.
Gaw-So expects more than 24,000 PRC-licensed real estate professionals and sales persons to attend the event. (Bernie Magkilat)