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IN this fast-moving world, adapting to change is not a smooth-sailing undertaking. Simply being open to change is one thing, but embracing it is another challenge one must face boldly. Gone are the times when set ways and traditions rule the market. Innovation and resilience are now what differentiate the companies that survive and those that do not.
In the field of real estate, cycles of trends are variable and keeping up with these cycles is a dire necessity in order to stay in the game. One strategy may be working now but, in a year or two, another game-changing venture suddenly transforms everything, leaving those unprepared with major losses. Such was the fate of those who entered the food park industry late, when the capital expenses became too much for the decreasing demand, yet increasing saturation, particularly in Metro Manila.
Working on this principle, PRIME Philippines came to inception. Continuously seeking for better solutions and constantly challenging the traditions in the real-estate industry, PRIME Philippines has worked its way up to where it is now—the first local real-estate consultancy firm to expand internationally, without losing its foot from where it came from. PRIME Philippines started capturing a piece of the pie in Quezon City—the originally master-planned capital of the Metro, with the highest number of household population to date. From door-to-door introductions along an easily traversed Quezon Avenue and rescuing underperforming office and retail developments in Quezon City, PRIME Philippines has now brought huge investment deals from countries such as the United States, China, Hong Kong, Singapore, among others, to the Philippines.
Behind this success is a visionary who first saw the need for better real-estate solutions in this fast-paced industry. Jettson “Jet” Yu is a 29-year-old millennial entrepreneur, angel-investor and innovator. He is the founder and CEO of PRIME Philippines—the fastest-growing real-estate consultancy and brokerage firm in the Philippines. As any other successful man in history, Jet did not have an overnight success. He took up Entrepreneurial Management in the University of Asia and the Pacific (UA&P). Even before they were required to set up a business as part of the course requirement, he opened a food kiosk called “Lil Asya Express,” selling siomai and rice meals, which became a success after barely selling on its first few months. Apart from this, he also juggled other businesses as a student such as selling of pharmaceutical products. However, these ventures did not skyrocket him through success. By the time his classmates were receiving huge offers from multinational companies, he was not getting any. Upon that cold realization, Jet knew—he had to do something about it.
Jet built on his knowledge about the real-estate industry even before starting PRIME Philippines, as he was involved in their family business of residential condominium selling. Observing how his parents ran the company, Jet learned to be resourceful, to be street-smart, and to treat others equally. His mother taught him that spending a lot of money is not the only way to get things done. Moreover, he learned that, a business recognizes no holiday or a weekend, and that the value of being highly committed and responsible must be observed in order to achieve success. He knew that a lot of people, mostly breadwinners of their own families, were dependent on his work that even at three o’clock in the morning, he attended to whatever what was needed to be done to make the ends meet for the whole organization.
Driven by discipline and determination, Jet studied everything there is to learn in establishing a company. He mastered one of his life principles: educo which means “to draw out” or if put in this context, “learning from within.” He read books and consulted with industry experts to learn the foundations and practices in the real-estate industry. Starting with a business plan and one employee, while resting on an unshakeable faith, PRIME Philippines was able to push its progress initially with a chance client.
A year after it has been established, PRIME Philippines gained market dominance in Quezon City, brokering over 65 percent of the city’s commercial lease transactions and several big-ticket acquisitions in the city. In 2014, PRIME Philippines brokered the largest single transaction in Quezon City, valued at P500 million.
PRIME Philippines took on another milestone in 2017 when it expanded its operations in Davao City to cater to the emerging real-estate demands of Mindanao. Recognizing the development potential of this up and coming region, PRIME Philippines was the first real estate brokerage and consultancy firm to have a significant presence in the area. In fact, during that same year, PRIME Philippines was awarded by the local government of Davao City with the Business Development and Entrepreneurship Award, recognizing its city-enabling efforts particularly in the real-estate industry.
Today, PRIME Philippines has now over 200 projects completed, over 4,000 clients successfully served, over 10 countries transacted with and over P30-billion worth of successful deals. The company offers wide-ranging, tailored-fit solutions for landlords, investors and tenants. PRIME Philippines also offers end-to-end real-estate solutions covering acquisition or disposal, research and advisory, documentation, brokerage and leasing, tenant representation, project management, and portfolio management.
To facilitate its service offerings to its clients, PRIME Philippines ensures that it remains up-to- date with the latest technological advancements. PRIME Philippines’s vision is to be the most advanced real-estate advisory firm, providing innovative solutions that will influence the industry standards. To push this vision, PRIME Philippines has developed PRIMECore—a property tech portal, powered with state-of-the-art technology, including artificial intelligence, cloud-computing and augmented reality.
In today’s modern real estate, bringing top-of-the-line solutions is key to make the Philippines a prime investment and business destination. Running through its purpose to challenge traditions and to create better real-estate solutions, PRIME Philippines is committed to continue to make a significant positive impact in the industry. It is committed to not just keep up with the change but to become the purveyor of positive change. Through challenging norms and breaking boundaries and through all these innovations, PRIME Philippines is aiming to redefine the standard of real estate.