Unlocking the Future of Philippine Real Estate: Insights from Asia Real Estate Forum 2023

The Asian real estate landscape is undergoing a groundbreaking shift, and at the heart of this transformation lies the Asia Real Estate Forum 2023. One of the many industry events from the Asia CEO Awards sponsored by Figari under the helm of Chris Butt, our CEO and Darcy Lalonde, our Chairman. This forum held at the Manila Marriott on August 24th unveiled a realm of investment possibilities within the growing Philippine real estate market. With Figari as one of its major sponsors, the event served as an avenue for the convergence of insights, networking, and innovation that will shape the sector’s future.

Seizing the Investment Potential: Exploring Philippine Real Estate

The event stood as an opportunity for stakeholders, inviting them to dive into the dynamic landscape where economic growth, demographic shifts, and evolving trends unite to create a thriving market. The Philippines is poised for a wave of real estate demand, driven by millions of Filipinos ascending to the global middle class. As this demographic wave surges, the desire for spaces to live, work, and play amplifies, unveiling a new era of investment prospects.

Figari: Partnering in Transformation

With a deep commitment to crafting environments that elevate businesses, Figari is not just about designing spaces; it’s about infusing the essence of brands, values, and security into every nook and cranny. 

Our very own Jen Dela Cruz, Head of Client Services, Philippines and Australia, represented Figari’s expertise by speaking at the forum. Jen guides clients through expansion, maximizing lead generation and project management to ensure optimal occupancy. She delved into the topic of how workspaces are essential for human connection. In its essence, real estate has an impact on how people live their lives and how it can affect daily operations and routines.

Commercial Real Estate: The Power of Office Spaces in The Now

Jen Dela Cruz, representing Figari, took the stage to share a wealth of insights regarding the ever-evolving world of office spaces and their profound impact on the real estate industry. Dela Cruz initiated her discourse by shedding light on the current state of commercial real estate in the Philippines, where she acknowledged the palpable surge in prices to how it creates demand, which shows that office spaces are still incomparable to other work setups.

Importance of Office Spaces

Jen proceeds to discuss the culture, learning and career development that transpires in the actual office setup that can be lacking in work-from-home jobs. She also expresses the one-of-a-kind experiences that workers go through in their daily lives in the office. The people they meet, the interaction and the relationships gained are all within reach in the office setting. 

For Jen, this is where she gets to bond and communicate with her colleagues and even spend some time with her work friends. This is where the human aspect of the office workspace is shown to be incomparable to remote work.

“Relationships are really important. We need like-minded people and we also need people who go against our beliefs and opinions to challenge us and develop more in our career,” she stated.

Another compelling reason she mentioned as to why people want to go back to the office is because of how people care about people. As studies have shown that 85% of employees are motivated to go to the office and bond with the rest of the team. 

The common motivating factors for employees to the office are relationship-oriented meaning employees want to go out and bond with coworkers and spend some time working with their friends on the job. Jen said that another important aspect of having people meet and work at the office is how non-verbal communication is seen face-to-face as compared to simple messages that do not truly show how the person expresses or acts. Gestures are more understandable when you see the person’s presence in front of you.

“Using nonverbal communication will help empathize with your employees and even rebuild relationships and fix conflicts within the organization.”

Office Spaces As The Heart of Human Connections

In a world saturated with virtual tools and remote work, the value of in-person interactions cannot be overstated. Harvard Business Review points out that face-to-face interactions are akin to a secret sauce for enhancing teamwork and communication. 

These personal interactions lay the foundation for innovation, acculturation, and dedication – the very elements that shape a company’s culture. Think about those electrifying brainstorming sessions where ideas bounce off the walls. That level of creativity often likened to “creativity on steroids,” thrives when teams are together in one room.

In a world increasingly dominated by virtual interactions, Jen underscored the enduring significance of personal connections within the workplace. Big companies such as Google, Amazon, Apple, and Microsoft are changing the way they present and utilize their office spaces. They are investing in improving and constantly upgrading their offices. Companies like theirs pour attention and focus on the work setting, which in turn benefits employees and improves their productivity at work. 

The Asia Real Estate Forum 2023 was a thought-provoking journey that shed light on the profound significance of real estate in moulding the very essence of our lives. In an industry where change is constant, being informed acts as a compass, guiding professionals through complex decisions. 

This statement seems to be a call for action in the real estate industry. Businesses should be more employee-friendly and they should be open to change and innovate for the betterment of their company. When employees are allowed to connect with colleagues in the office better, they get motivated to work better and bring the best to the company. The employees are the reflection of a company’s brand and image. So, upgrading and utilizing the office space is one step to success.

The Value of Creating A Creative and Fun Office Space

Since time immemorial, we all have been used to the drab and melancholic office setting where employees are divided into cubicles and have work areas that have no chance for easy human interaction. Some people are scarred by that image and give office settings a bad name. 

Despite the negative connotation that some people might even have strong opinions about, office spaces are where workers meet and work to reach the same objective. Today’s offices are no longer mere spots to tackle tasks. They’re hubs where exploration, growth, and learning thrive. It’s all about nurturing the holistic well-being of employees. 

“We have to make it fun, we have to make it an environment that amplifies our team’s creativity, so we can set them up for success,” Jen said.

In addition, Jen said that office spaces are the very heart of collaboration and it’s a place where we build life-long friendships. She believes that office spaces are a force to reckon with and are still important. 

Jen’s remarks at the Asia Real Estate Forum 2023 unveiled a profound shift in how we perceive and utilize office spaces. Her insights highlighted the impact of flexible workspaces on the real estate industry, the critical role of managed services like Figari in enhancing these spaces, and the enduring importance of human connections and innovation within the modern workplace. Her speech resonated as a testament to the ever-evolving nature of office spaces, serving as the epicentre for collaboration, community building, and innovation in a rapidly changing world.

Embracing The Bright Future of Office Spaces and Real Estate 

Jen’s enlightening presentation has reinforced the central role of office spaces, not only in the realm of work but also as pivotal assets within the broader real estate landscape. The insights shared underscore the undeniable importance of flexible and dynamic work environments that adapt to the evolving needs of businesses and the workforce. Figari’s innovative approach to crafting purposeful office spaces emerges as a game-changer, amplifying the potential of these spaces by infusing brand identity, values, and safety into their design. 

The forum was a catalyst for fresh ideas and perspectives that are set to reshape commercial and various sectors within the real estate industry. It is a testament to the enduring significance of office spaces and the dynamic nature of this ever-evolving field.

The insights we’ve gathered that day illustrate that as the world evolves around us, our physical spaces remain a potent force. As we stand on the cusp of the future, let’s harness the power of our office spaces. Let’s transform them into realms where collaboration flourishes, communities thrive, and innovation soars.