Real estate business has evolved rapidly in the past ten years driven by the millennial market and technological advancements. While most developers and investors still rely on conventional strategies and practices, a few have already taken advantage of newer perspectives and better insights that have proven to be the most effective in this new generation.

— Jet Yu
Founder and CEO Of PRIME Philippines

Media Appearances

Lorem ipsum dolor sit amet

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam ornare facilisis elit, nec posuere enim ornare vel. Cras id tempus ante. Duis fermentum justo eu massa vestibulum, rhoncus iaculis ipsum volutpat. Integer ullamcorper erat tortor, vitae ultricies libero fermentum ac. Nunc purus lectus, vehicula ultricies sollicitudin et, suscipit ac erat.

The City Enabler wants in on the Next Big Thing
The City Enabler wants in on the Next Big Thing
  PRIME Philippines
  July 25, 2018

 

Waiting for the next Amazon, Snapchat, or Airbnb? You’ll probably find it at The Final Pitch, the Philippines’ first business reality show where aspiring entrepreneurs pitch their innovative ideas to a panel of investor judges.

The show is the brainchild of entrepreneur-TV producer and host, John Aguilar. Like a contestant of his own show, John pitched the concept to his wife (who is the co-executive producer) a few years back. This served as the initial stepping stone to realizing a great idea: geniusly orchestrating an entrepreneurial crucible where people with great ideas meet people who know how to execute them, all while utilizing a TV and online platform to maximize its reach and influence.

Fast-forward to 2017, its first episode aired on national television which subsequently drew impressive traction from viewers, entrepreneurs, and even investors. By the end of season 1, more than Php 60 million worth of investments were granted to the deserving entrepreneur contestants, justifying the show’s success--not to mention its shot for a sequel.

This 2018, The Final Pitch comes in hot in its second season with a wider reach, hungrier entrepreneurs, more audacious pitches, and a new panel of judges--and things just got a lot more interesting with the addition of its latest investor judge, Founder and CEO of PRIME Philippines, Jet Yu.

Dubbed as a bullish dealmaker and power negotiator in the real estate industry, Jet is widely acclaimed as the youngest serial entrepreneur and most accomplished real estate broker in NCR. Identifying the large potential in commercial real estate, he applied his expertise and pioneered PRIME Philippines. Imbuing his unrelenting vision and innovative mindset, PRIME Philippines is the leading real estate advisory firm in the country.

He invigorates the show by adding a touch of millennial, this time on the investor’s side. Notwithstanding the pejorative branding attributed to millenials such as being self-entitled and lazy, Jet--a millennial himself--steps up to redefine the term: a generation that fosters the smartest, most innovative and productive set of go-getters thus far.

“We’re looking for entrepreneurs from Luzon, Visayas, and Mindanao. [So] My expectation is that being the youngest judge and investor in this show, [is that] I’ll have the leverage to really understand what these young entrepreneurs are talking about. [So] It would be easier for me to dissect and investigate deeper.” - Jet Yu, PRIME Philippines

Jet is also lionized as a ‘City Enabler’ because of his ability to empower and develop cities with potential; that is, those that have good economic fundamentals but are often overshadowed by the large development of central business districts. Similarly, expect that he will incorporate that same boost to only the most deserving of entrepreneurs, as the youngest investor judge in the show who is bold as he is critical.

He earns his niche as the visionary millennial entrepreneur among the judges included in the prestigious roster. Joining him are fellow tycoons Mikee Romero (Co-Founding Owner of Globalport | Air Asia Zest), William Tiu Lim (President and CEO of Mega Global Core) and Dino Araneta (Founder and CEO of Quad X). 

Catch Jet Yu and the rest on CNN every Sunday at 8PM, or on replays every Monday at 9:30 PM and Saturday at 1:00PM.

Read More
Developers urged to invest in Davao City
Developers urged to invest in Davao City
  Business Mirror
  April 03, 2018

DUE to lack of hospitality facilities, amid a strong tourist arrival in Davao City over the past recent years, the local government’s investment arm bared the need to build more accommodation spaces and function areas to meet the demand of both leisure and business travelers.

“With this, the city is encouraging more investments in convention and exhibition centers and hotels,” Davao City Investment Promotion Center (DCIPC) Officer in Charge Lemuel Ortonio said during the Mindanao Investments Forum held recently at the Marco Polo Hotel in Ortigas.

According to him, the local tourism sector has seen a big leap from the visitors received by Davaoeños over the years.

In fact, a total of 2.01 million tourists went to the city province in 2017, or 7 percent higher than the figure posted in 2016.

Of this, domestic travelers account for more than 90 percent of arrivals, followed by their foreign counterparts and balikbayans.

Such locality where President Duterte hails from and governed for 23 years as a mayor, he added, has since become the top-of-mind destination for meetings, incentives, conferences and exhibitions  industry.

“[But] we only have one five-star hotel in the city, and the other hotels are mostly four stars and three stars,” Ortonio revealed.

Since most of the activities are really happening and being tracked in the latter categories, real-estate consultancy firm PRIME Philippines surveyed seven players from these segments and found out that their average occupancy rates range between 94 percent and 95 percent annually.

This is greater than 80 percent to 85 percent yearly hotel room take-up mean in Asia, the study showed.

Price-wise, the company noted that an overnight stay in Davao City hotels like Seda or Marco Polo could cost around P4,000 to P6,000.

“[If] you go to Guangzhou, China, and other parts of the world, with P4,000 to P6,000, you can get six stars [or] seven stars accommodation,” PRIME Philippines Managing Director Jet Yu told the BusinessMirror in a special interview.

“So that means that the prices have increased significantly in the Philippines because of the lack of supply. And if you don’t book your hotel going to Davao City within three weeks before your actual landing, most likely you will run out of quality rooms to stay in,” he added.

Even if bed and breakfast inn and other smaller scale hotels were included in the research, the executive maintained that there’s still a huge gap between the supply and demand for hospitality space.

As the first property consultant who ventured in Davao City last year, PRIME Philippines currently does the feasibility studies of five international hospitality brands that are looking to build their hotels with inventories ranging from 200 to 300 rooms.

“That would be about 1,000 to 1,500 hotel rooms to be added to the supply within the span of three years,” Yu said. Given the fast growth rate of tourist arrivals in this part of Mindanao, which last year increased by about 49,000, he said the estimated number of accommodations in the pipeline is still not enough to meet the tourism sector requirement had these projects push through by 2021.

“There’s currently a huge demand for tourist arrival in Davao City. Therefore, we invite you to explore hotel development and convention developments [here],” he appealed to potential investors.

“Per some of our foreign hotel operators who are currently situated here, they said that the most profitable hotel business in the whole Asia is currently the Philippines. So take advantage of the robust and booming demand for hotel rooms, especially in Davao City,” Yu added.

Based on data from DCIPC, the highly urbanized city province accounts for more than 70 percent of the gross regional domestic product of the Davao region. Since 2014, its economy continues to indicate a strong performance in both trading and investments.

Last year the number of registered business establishments in Davao City reached more than 40,000. Their combined capitalization aggregated to over P270 billion.

“We expect that in 2018, this positive trend will continue and we are expecting that we will have at least a 6-percent growth rate in terms of the number of businesses that will come in to the city,” Ortonio said.

 

Source: https://businessmirror.com.ph/developers-urged-to-invest-in-davao-city/

Photo by Bernardo Agulo

 

Read More

As seen on