Shang Properties Inc. (SPI) sees a busier property market this year as the economy recovers.
It said that real estate agents should gear up for better days ahead.
The office market alone, which bore the brunt of lengthy lockdowns and business closures, has finally turned a corner this year as pandemic restrictions eased and vaccination rates improved, allowing more businesses to reopen and a major bulk of the workforce to return to their offices, it said.
SPI recently gathered its brokers for the first ever Shang Broker Ambassadors Circle Appreciation Event.
The highlight of the inaugural affair held on May 20 at Shangri-La at the Fort in Taguig City was the launch of the Shang Broker Ambassadors Circle, a recognition program meant to create a high-performance culture and healthy competition among brokers and to incentivize partners who go beyond standard quotas.
In unveiling the elite members-only initiative, SPI executives lauded brokers for the extraordinary lengths they went through to deliver and thrive, guiding homebuyers to find personalized and safe spaces amid industry disruptions and difficulties brought about by the pandemic.
Special Broker Awardees for the first trimester of the year were recognized at the event in a simple ceremony, which culminated in a party and a round of raffle draws.
“We are very pleased to have you here today as we extend our utmost gratitude to all of our brokers for withstanding the challenges we faced and for transcending boundaries with us despite erratic times,” said Rose Morales, senior director of SPI’s Group Sales.
“It’s been a while since we’ve seen most, if not all of you, and there really is nothing quite like celebrating our small and big wins in person,” she added, underscoring the critical role real estate agents played in keeping the industry afloat during the pandemic.
Under the Shang Broker Ambassadors Circle, top sales performers will be honored every quarter and welcomed into the exclusive club, where they get to enjoy premium perks and experiences. SPI also opened the institutional recognition program to all accredited external brokers subject to terms and conditions.
Brighter 2022
“We pay tribute to our partnership—stronger than ever and ready to power through a brighter 2022,” added Morales.
For the first time in seven quarters, property consulting firm Colliers reported a positive take-up in office spaces in major business districts this year, with demand coming from traditional companies from the legal, engineering, construction, government and flexible workspace sectors, and the business process outsourcing companies.
But vacancy will continue to increase within the year with the completion of 821,900 square meters of new office space, mostly in the Bay Area, Ortigas and Makati CBD, Colliers projected.
The residential market is also set to benefit from the uptick in office space rentals and the return of local and foreign professionals to onsite-work. Colliers encouraged residential developers to launch new projects within and outside Metro Manila, complete developments as scheduled, enhance amenities for residents still working remotely and continue offering attractive payment schemes for homebuyers.
SPI has two new luxury developments in the pipeline—the Shang Residences at Wack Wick in Mandaluyong City and the Aurelia Residences in Bonifacio Global City. Both projects will cater to the growing demand of homebuyers for luxury homes that will offer them privacy, expansive space and green covers, superior amenities and security features.
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The article was originally published in The Philippine Star – Property Report PH and written by Aimee Morales.
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