A Confabulation with a Real Estate Expert

For most part of his life, he has put his heart in the real estate business and the corporation world where he learned the ropes to succeed, to inspire people and to usher significant changes.  If we look closely on his trails of passion and extensive career experience in real estate consultancy and management in the Asia Pacific Region that spans for over 25 years, Professor Enrique “Eric” Soriano can be considered as an icon and a pillar in his chosen field that transcends inspiration. Presently, he is the Chair of the Marketing Cluster and Program Directorship for Real Estate at the Ateneo Graduate School of Business. As a true-bloodied Ilonggo who grow up in Iloilo City, his recent invitation as the resource speaker for Iloilo Business Park’s Open House Event at Richmonde Hotel Iloilo on July 25 is a sort of “homecoming” for this popular real estate expert who never hesitated to share his wisdom, success-driven talk and amusing wit to an audience filled with optimism, to understand the true vision of the real estate business. In an up-close interview, Professor Eric Soriano selflessly bared his lifelong passion and sharpened perspective about the world of real estate.  

What makes Real Estate an important aspect in developing our nation’s economy?

As of the last count, real estate supports 42 sub-industries in the Philippines from construction, steel to wood industries. In short, real estate literally helps the stability of these 42 sub-industries that directly supports workers and local businesses. There are so many sub-industries that directly benefited from the surging success of the real estate nowadays. The status of the real estate industry t is the reflective barometer of the kind of economy that we have in our country today.  If a nation’s economy is moving up, real estate follows. Real estate attracts investments and businesses to thrive due to investors’ trust to our economy. Also, real estate is the ultimate gauge to elevate the quality of living in every country allowing people and families to secure a decent home. The existence of a strong real estate industry transcends stability and directly supports vital industries.

What are the advantages of Iloilo Business Park as a township away from major megacities in the country?

First, land property prices in Iloilo City are affordable. Statistics shows that it’s just 10% compared to most expensive prime commercial lots in Manila’s major commercial areas. Second, the kind of concept and master plan that Megaworld initiated for Iloilo Business Park is obviously comparable to some world-class developments. Everything you need are already here in this complete mixed-use commercial complex. It is a visionary integrated community and business township that shows sustainability and strong investment potential. I was toured earlier in the area and I saw similar township developments in other countries. So basically it raises the standard of Iloilo as a 21st century premier city.

As an Ilonggo, what are your impressions about the recent developments in Iloilo City?

Since my parents are both Ilonggos, I studied here and I came back where I truly belong - Iloilo has changed a lot and the development is impressive.  Iloilo’s recent success can be credited to its visionary mayor in the person of Mayor Jed Patrick Mabilog. As a leader, he is a very creative, efficient and he thinks out of the box. He is not your typical politician because aside from being dynamic and active, he’s actually a good marketing guy. He has the drive and the vision to put Iloilo City in the map of most developed cities nowadays.

What is your best advice for clients and investors looking for condominium and commercial areas especially for those planning to live in Iloilo Business Park?

Iloilo Business Park is a self-contained integrated township where everything from business to leisure spots can be seen, a visionary master-planned community that speaks highly of remarkable developments. For usual real estate projects, developments are mostly standalone with “a one building affair” and that’s it. But here in Iloilo Business Park, it is a massive plan that is so complete and highly-integrated with so many anchors linking to commercial establishments, hotels, offices and convention facility. For most investors, this is definitely a confirmation of the real value for money and investment. You’re not just buying a condominium or commercial areas, you’re actually buying the whole township, a dynamic and integrated community that holds great potential for business.  

Can you share with us valuable tips for people like property consultants pursuing a career in the real estate business?

First, they must have the “patient-capital.” They have to be very patient because as the saying goes “Rome wasn’t built overnight.” It takes a little longer to succeed in this career, and therefore, there’s a need for them to embrace the concept of the development that they promote.  In the case of Iloilo Business Park, they should learn to fully internalize the “township concept,” share it with their clients and in the long run, they would be able to sell the project with credibility and confidence. Here, they are selling condominiums as not just a home but it comes with a complete integrated township, a modern community suitable for business and high-end lifestyle.

Can you share with us your most significant achievement in your career in the real estate business?

Well, I consider the passion to be able to advocate for best practices in the real estate business as the significant highlight of my career. I think it is my dream to educate buyers and investors, empower sellers and developers with the right kind of information they need in this kind of business and career.  It is my goal to educate them on what they need to know and emphasize “value-creation” in real estate. 

Personally, I want to advocate for an eco-friendly and pollution-free lifestyle in a modern township to elevate the quality of life. When my father passed away last year because he was sickly due to air pollution, I realize how important it is to live in a clean, close-to-nature and serene community amidst the active developments taking place in it.

Lastly, do you have any favorite quote or words of wisdom from a significant real estate icon?

I had the opportunity to meet Dr. Andrew Tan, the visionary owner of Megaworld Corporation. In our conversations, he would always highlight a very important element and used to say that “integrity is non-negotiable.” If I may add something - “integrity has no day-off.”  For instance, we should learn to look for “value” in everything that we do and pursue - value for money, investment and time, time is gold for those who are yearning to succeed in life. For Dr. Andrew Tan, Iloilo Business Park is the product of his desire to raise the standard of life in Iloilo City. I admire him because he is very passionate with his vision and dreams in the real estate industry.

For more information about this real estate expert, visit his official website at www.enriquesoriano.com.