10/07/2009 [ tribune.net.ph ]
Real estate industry professionals have put together a curriculum that will raise the standards of the profession and develop advanced management skills among property practitioners.
The Asian Public Real Estate Association (Aprea), through its educational arm, The Aprea Institute, recently launched one of its leading courses in the Philippines.
The Certificate of Real Estate Investment Finance or CREIF program is a program designed to provide technical analysis of the real estate investment market and finance investment structures for the real estate market. It also offers innovative applied valuation techniques and practical approaches to legal and regulatory frameworks. The CREIF program is currently delivered in Singapore, Shanghai and Hong Kong to mostly middle-management professionals who benefit from comprehensive course notes prepared by no less than industry leaders all over Asia.
The CREIF program is a product of collaboration among leaders in the industry who, through Aprea, ensure that the Asian real estate industry is ready to meet the requirements of dynamic global market.
"The real estate market is ever-changing and the investment climate remains fluid. One of our roles in Aprea is to build institutions that offer ground-breaking learning programs that real estate frontrunners can draw time-tested insights from, especially now that it is imperative to compete globally," said Jaime Ysmael, chief finance officer of Ayala Land Inc. and current president of Aprea.
Aprea is a non-profit industry association established as a unifying body representing Asia’s real estate sector. Its main objective is to effectively promote the real estate sector to domestic and foreign investors and professionally represent the same to government and regulatory entities to further enhance the business environment for member real estate companies.
Ysmael added that the 8-month long CREIF course was initiated to address an industry skills-shortage in the Asia-Pacific region.
"We know there is a need to raise the level of skills in the finance and investment aspect of the real estate industry, especially with the onset of REITs (Real Estate Investment Trusts) in the country. CREIF provides, among other features, a platform that will help practitioners maximize products such as these and because CREIF has a flexible study program, it is easier for students to successfully complete the course," he said.
Some important topics covered by the CREIF program are Asset, Fund and Portfolio Management, Legal and Regulatory Considerations, and Applied Valuation Techniques. Course graduates will earn a Certificate of Real Estate and Finance to be awarded by Aprea.
The Philippine launch of CREIF at the InterContinental Manila was graced by special international delegates from Aprea member companies and local industry players. The event was sponsored by Ayala Land Inc., Quisumbing Torres — member firm of Baker and Makenzie International, CB Richard Ellis, Robinsons Land, First Metro Investment Corp., Citibank N.A., JP Morgan Chase Bank NA, Standard Chartered Bank and SM Prime Holdings Inc.
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