Tuesday, April 28, 2009 [ sunstar.com.ph ]
By Nancy R. Cudis
IN response to the growing demand for real estate con-sultancy and property management services, nine real estate practitioners formed a group that aims to become a significant force in Cebu’s real estate industry.
Formally introduced as F9 Property Development and Consultancy Inc. in a launching last week, the group wants to establish itself as a real estate service provider that offers “high-level” services, which include consultancy, property management and property development.
F9 chairman Tomasito Academia said that as Cebu continues to attract investors in information and communications technology, there is a need to provide them with important information to enable them to make right decisions.
“Many would come to Cebu, asking for information on our culture and lifestyle, as well as financial issues—especially concerning taxes—on doing business here,” said Academia, also Philippine Association Real Estate Board Inc. vice president for the Visayas.
He said F9 is one of two real estate consultancy companies in Cebu and among the “very few” in property management.
F9 president Emily Cabillada said that many local and foreign businessmen are looking for office spaces in Cebu to house investments in business process outsourcing and software development.
Residential development in Talisay City and Minglanilla have also picked up with the anticipated commercial development of the South Road Properties in Cebu City.
Cabillada also raised the need for property management to preserve real estate projects and increase their value.
“Investors will realize that property management is not an expense since it will improve their infrastructure and keep their tenants happy. There is now high demand for property management services as the rate of take-up of condominiums in Cebu increases. If a property is not properly managed, scrupulous transactions could happen,” she said.
F9 will be tapping big buildings and subdivisions for its property management services to. Its major areas of responsibility includes administrative, finance, maintenance, security, marketing, leasing, tax payments, and asset management and preservation, among others.
Cabillada said that F9 has a combined experience of more than 100 years with each member having different specialties in the real estate industry.