According to Kiana Trinidad, Colliers Philippines’ Senior Manager for Advisory Services, property developers should embrace digitalization to future-proof their business.
My whole adult-working life I have been engaged in real estate. After graduating in 2014, I started my career with Waltermart Malls and DMCI Homes as part of their business development team overlooking the expansion of the business. After a few years, I received a call to join Colliers in Myanmar and so I did.
In Colliers Myanmar I was involved in consultancy work where we handle different accounts with varying degree of complexities: from a local developer with a 2,000-square-meter property to massive township developments. In addition to that, since Colliers Myanmar was a growing company, so I had the opportunity to work on other projects outside of Consultancy and appreciate practices in other departments especially Valuation.
Now, I’m with Colliers Philippines and currently co-heading the Metro Manila cluster together with Karla Domingo and Rikki Villareal.
Staying relevant: technology is a challenge probably not only in my line of work but also in other real estate applications. With work quickly transforming, we as professionals should ensure that we are equipped not only with the relevant traditional skills but also with the latest technology that could simplify and improve our work output. Technology also brings into existence new ideas.
There are people reluctant to embrace technological changes mostly because they see them as threat to their livelihood, that they will incur cost, or due to the simple fact that they don’t have time. In my opinion, viewing technology as a tool and enabler rather than competition is the key.
3. The Covid-19 pandemic has significantly altered the real estate industry. What do you think, from a real estate advisor’s perspective, are the steps that need to be taken by the government and property players in order to pave the way for recovery?
The simplest and best way to initiate recovery is to fast track the vaccination program. Right now, a great success story in Asia is Japan. Since they were able to inoculate majority of their eligible population, they managed to avoid imposing nationwide lockdowns and this led to their economy remaining open with minimal restrictions with mass transportation and businesses operating close to normal.
On the other hand, I have three general recommendation for property players:
Property players need to embrace digitalization. Complementing their physical properties with digital platforms will expand their network. It is not a temporary solution as digitalization will be a critical part of business operations in the future. This is the time for players to test the waters to eventually build a solid digital foundation.
b. Due diligence
Always be on the lookout for potential properties for expansion. With a number of big-ticket infrastructure projects in the works, properties close to these projects with previously low commercial values are now instantly ripe for development.
c. Market research
We are in the information age. Supplying oneself with the latest, accurate, and meaningful data will enable one to understand the property market and strategize for the future.