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Business

Construction industry players gather to plot recovery plans

The Philippine Star

MANILA, Philippines — The local arm of Paris-based International Real Estate Federation (FIABCI) is gearing up for its annual conference in Manila in October to recognize achievers among its members and at the same time plot their recovery plans.

FIABCI-Philippines president Reghis Romero II said the whole day event slated on Oct. 15  would culminate with the Property and Real Estate Excellence Awards Night, which is also an opportunity for the industry to regroup and find ways to bounce back from its first-quarter slump.

The construction sector contracted by 24.2 percent while real estate and ownership of dwellings declined by 13.2 percent in the first quarter, he said.

“The decline in our sector contributed to the negative 4.2 percent drop in the GDP in that period as reported by the PSA (Philippine Statistics Authority).  As such, the event can help bring about a unified response from the property and real estate sector to the challenges posed by the pandemic and its impact on the economy,” Romero said.

Up for grabs at the event are prestigious excellence awards in 16 categories to be conferred on the winners by FIABCI-Philippines.

Founded in 1951 in Paris, France, FIABCI has around 2,300 regular and a million associate members in 65 countries, including the Philippines, which holds the annual awards to keep raising the bar of excellence in all the 16 product categories of the property and real estate sector.

Highlighting the awards are the best practices, innovations and levels of economic and environmental impacts of the nominated projects.

The 16 project categories are environmental (rehabilitation/conservation), heritage (restoration), master plan, hotel, convention, industrial, office, public infrastructure/amenities, high-rise and low-rise residential, resort, retail, rural, specialized, and sustainable development.

“Winning an award in any of the 16 categories provide an indisputable proof of excellence based on peer review, or judgment of peers with vast international exposure to know which project or projects make a world of difference,” said Nestor Mangio, former president and now chairman of FIABCI-Philippines.

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