The Philippine Economy is heralded by world economists as one of the strongest performing economies in the region with growth indicators that surpass its neighbors in terms of its Gross Domestic Product (GDP). Along with this stronger performance is the boom in property development throughout the country. In the advent of the ASEAN Integration, the real estate industry is faced with many challenges as nations strive towards a borderless economy in terms of ownership, development and cooperation amongst real estate service practitioners. As the first and largest real estate association in the Philippines, the Philippine Association of Real Estate Boards (PAREB) re-affirms its commitment to be a partner towards ASEAN Integration in coordination with the Professional Regulatory Board of Real Estate Service (PRBRES) and prepare the industry professionals for it. The licensed real estate professionals in the country is close to reaching 32,000 to date including the 5,000 recent passers of the real estate Brokers Exam recently since the Real Estate Service Act (RA9646) was enacted 6 years ago. The summit hopes to formulate an ASEAN Framework for Cooperation amongst real estate service associations & 32,000 practitioners compliant with the agreements reached by the ASEAN Community and explore mechanisms how the real estate service practitioners from the ASEAN Countries can do to help their respective Government institutions in fulfilling its mandate. From August 6-8, 2015 at the SMX Convention Center, PAREB proudly introduces iRISE (International Realty Investment Summit & Expo), a gathering of industry leaders from Asia and the Pacific. This international summit and expo will address concerns of the realty sector and shall be an effective medium in linking property buyers and sellers. Significantly, iRISE will be held concurrently with the country’s biggest and most effective food show WOFEX, the World Food Expo. Yearly, WOFEX is able to attract around 50,000 visitors into the show. With this in mind, the prospect of attracting such a huge traffic of potential buyers further boosts the opportunities available in iRISE.
