Vice President Noli De Castro, Chairman of the Housing and Urban Development Coordinating Council (HUDCC), said today that the Philippine real estate sector stands to benefit as local industry players and related government agencies cemented ties with the International Real Estate Federation.
Vice President De Castro made this statement during the induction of officers of the Philippine Chapter of the Federation-known internationally by its French acronym, FIABCI.
De Castro, along with FIABCI World President-Elect Dato' Alan Tong Kok Mau, inducted the founding officers of FIABCI Philippines International, Inc. in a ceremony held at the Manila Hotel
The Vice President said that FIABCI-Philippines gives local real estate practitioners as well as government agencies "a link to a world of information, contacts and new opportunities."
He pointed out that the formation of the chapter is consistent with President Gloria Macapagal Arroyo's shelter policy of creating "an environment where the private real estate sector can take the lead in undertaking actual housing projects nationwide."
"For the government housing sector, being part of FIABCI-Philippines gives us a great opportunity to learn from the experience of other countries. At the same time, we will be able to share our own experiences, and make our own contribution to the growing body of global knowledge on housing, real estate and the economy," De Castro further stated.
FIABCI-Philippines was officially organized on November 12, 2003 by the Chamber of Real Estate and Builder's Association, Inc. (CREBA) upon the invitation of then FIABCI World President Daniel Teo.
The founding officers of the Philippine chapter include CREBA's Florentino Dulalia Jr. as President and Pag-IBIG President and CEO Romero Quimbo as Vice President.
The chapter's pioneering members include 30 real estate and property companies and three shelter agencies under HUDCC, namely the Pag-IBIG Fund, National Housing Authority (NHA) and National Home Mortgage Finance Corporation (NHMFC)
Based in Paris, FIABCI is a 52 year-old worldwide network of professionals involved in the property industry. It operates chapters in over 60 countries, embracing 3,200 individual members, 20 academic members and 100 different national professional associations.
http://www.pagibigfund.gov.ph/nr_apr2005d.htm
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