LIFESCAPING THE PROPERTY NEEDS OF FiliPINOS WORKING OVERSEAS
Associated with upscale residential developments, Brittany's themed communities and C&P's affordable housing have packaged the right formula
'OUR PRODUCT PORTFOLIO IS OF INTERNATIONAL STANDARDS AND WE ARE WITNESSING Double-Digit GROWTH'
Filipinos have always enjoyed a reputation as world travelers, which is reflected in the success of the Brittany Corporation, the country's leading provider of unique upscale property developments. Brittany's trademark is the creation of themed, luxury residential communities, crafted with an eye to detail and inspired by world areas of acclaimed beauty.
On returning from their travels, Filipinos can continue to enjoy the old-world atmosphere of San Francisco, the classic architectural lines of Italian cities or the pine-scented breezes of Switzerland by purchasing a home in one of Brittany's flagship community projects.
The company aptly uses the word "Lifescapes" to describe what it provides its customers, Located close to leisure amenities such as beach resorts and golf clubs, the communities are also mere minutes away from local business and commercial districts. The Courtyards of Portfolio; the Grand Quartier at Crosswinds; Victorianne Row at Brittany Bay; these and more than 20 other master-planned communities in Brittany's portfolio of developments have set the standards for living at the luxury end of the spectrum.
The firm conducts regular market surveys to gain a more thorough understanding of both the local and the overseas markets. “We try as much as possible to serve the needs of Filipinos working overseas via our portfolio of properties located in different parts of Metro Manila. But we do not develop products exclusively for the overseas market. Instead, we ensure that our product portfolio is at par with international standards," says Benjamarie Therese N. Serrano, president and chief operations officer of the Brittany Corporation. Road shows, Internet marketing and attractive financing schemes are also used to capture the overseas market in particular.
However, as Ms. Serrano points out, the luxury sector is not the only one to be benefiting from the current rise in real estate activity. "There is growth in all segments of the real estate industry. We are witnessing double-digit growth rates, especially in the last two years. There is a building boom across the country," she says. While the Brittany name continues to be associated with upscale lifestyles, the firm is the third-largest stockholder in Camella & Palmera Homes Inc. - one of its sister companies and the biggest private housing developer in the Philippines.
C&P Homes focuses mainly on affordable housing in Metro Manila and other cities in the county. Their affordability stems from the company's continued efforts to formulate improved and more cost-effective models. C&P Homes' Chainman of the Board Marcelino C. Mendoza believes that the company, with nearly 30 years of experience in the business, has found the right formula for catering to the middle income market. "We have very good locations, very good house models, and we have fitted the amortizations and down payments into packages that are more affordable," he says.
The company's houses are seen as starter homes, a popular concept in the growing overseas Filipino worker (OFW) market as well as the local segment. "The typical Filipino just wants to ensure that he has a house and a lot," says Mr. Mendoza. "He is buying that house with a view to expanding it in two or three years' time."
Through its marketing arm C&P Properties International, C&P Homes specifically targets Filipinos living overseas, fitting financing schemes to their particular situations. To this end, the company has setup marketing offices and extensive networks in Hong Kong, Japan, the Middle East, Europe and other countries in the Asia Pacific region.
"There are two different markets," says Mr. Mendoza. "On the one hand you have naturalized Filipinos, buying properties as investments. On the other, you have the OFWs who are planning on returning and buying homes to live in." The burgeoning economy and the accompanying real estate boom have also encouraged C&P Homes to expand into other market segments. Under the brand names Camella Homes and Crown Asia, the firm caters to the more affluent customer. Furthermore, with the Philippines gradually becoming the hotspot for business outsourcing, C&P is even planning to enter the call center market. "But we will stick to the leasing," says the chairman.