Sunday, July 22, 2012

Coming full circle

INQUIRER - It is good to be “home.”

For Nita Claravall, working now for one of her most esteemed clients back in the early days when she was still an advertising executive, feels as if she has come full circle.
After moving from one job to another—a teacher, creative director and a banking executive—Claravall now serves as senior vice president for marketing of SM Development Corp., the property firm of the SM Group.

Claravall tells the Inquirer that she first worked with the SM Group when siblings Hans and Tessie Sy were scouting for an advertising agency for its first mall, which she had then dubbed as SM City North Edsa. After her advertising stint, she had moved to the banking industry, where she stayed for more than 21 years.
“I’ve transitioned in my life so much. I used to be a teacher, then I went to advertising as a creative director and then I went into banking before I came to SM. In a way, I had my roots in SM since I worked for the very first mall in North Edsa, giving it the SM City name,” Claravall recalls.
CLARAVALL

Claravall believes that transition bodes well for an individual who, like her, is looking to “translate all the things that you learned through the years to something totally different like retail, which is very dynamic.”
“And of course, SM, as a brand, is really something that one would want to work for because I think it’s a brand that has pervaded people’s lives,” she added.

The former copywriter turned banker first entered the SM Group in 2008, but it was only a year after that she was asked to help handle SMDC, which, at that time, was a relatively new player in the local real estate scene.

No easy feat
Claravall then thought of this assignment as a challenge to grow the brand—a very good marketing experience for her to be able to translate and leverage on the branding of SM Group as a whole in order to develop SMDC.

But it was no easy feat, she admits.

“SMDC was really a fledgling company because if you look at its ranking in this industry years ago, in 2006, we were only No. 13 and in 2007, we were No. 8. It was only in the second half of 2009 up to 2010 that SMDC finally became No. 1,” she explains.
SMDC projects boast five-star hotel-like lobbies.

“In a way, when you look at an industry that is populated by a hundred developers, it is no mean feat to be able to sustain the No. 1 position from the second half of 2009 up to the end of 2011. And we are hoping to maintain our position in the market,” Claravall says.

SMDC’s rise to the top, according to Claravall, was propelled mainly by the vision of Henry T. Sy Jr., who believes in helping make every individual’s life better.

‘The good guys’
“Our CEO, Henry T. Sy Jr., was the one who thought of ‘the good guys.’ That was his idea. He believes that we have to start somewhere and that in this business, and as the good guys, we have to be able to give you the best possible home that you signed up for,” Claravall explains.
ALL SMDC projects are equipped with the best amenities.

As the good guys, SMDC has committed to give the Filipino market an abode that is affordable, strategically located, highly accessible, near commercial areas, offices, hospitals and other places of interest. These property projects also come with a promise of having the best amenities such as Wi-Fi, study rooms, pools and showcase five-star-hotel-like lobbies.

“SMDC promises to deliver products that are of quality, affordable and convenient. As the good guys we will try as much as possible to give our buyers the best deal and we will always try to meet our homebuyers halfway in cases where confusion arises,” Claravall says.

“We also made the market realize that they can afford a home and that it is easy to own one. We are putting quality homes within their reach and they don’t have to settle for something that’s just ok because what we are giving them is a good thing,” she adds.

Like a courtship
Claravall likens the SMDC buying experience to a courtship: as suitors would normally do everything to win the object of their affections, SMDC would similarly aim to give all that is right and due its customers, knowing very well that every peso they spend comes from a hard-earned pay.

Despite the successes being enjoyed by SMDC, Claravall admits that the company is still quite far from completely achieving its goal, adding that a lot of work still needs to be done.

“SMDC will be here for the long haul as we believe there is still much to be done. And we intend to accomplish that just by doing more of the things that we’ve actually been doing already. We will continue to listen to our customers and from there find out what else we can do to make this a good deal for them,” Claravall says.

SMDC currently has 21 ongoing projects, of which five are ready for occupancy. It has also lined up several more projects on the pipeline.

“SMDC has arrived, and we are lucky we have a CEO who has a foresight and a vision that enables his employees to do the things he believes fall under that vision. I think we have showed our competitors that this is a viable industry and as a player, we have shook things up,” she adds.

Currently, SMDC continues to strive being the “good guy” by raising the bar for the whole Philippine real estate industry.


For more details on SM residences and condo projects, you may e-mail reby_ramirez@yahoo.com or contact her at 0922.883.9308 / 0916.4044.555 / 0919.699.3572 / 4044-534.

For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com.

Monday, July 9, 2012

Macau gaming firm Melco teams with Philippines’ richest man in $1 billion casino project

Washington Post — Macau gambling company Melco Crown Entertainment is teaming up with the Philippines’ richest man to develop a $1 billion casino resort in Manila in a sign of the industry’s plans for rapid expansion in Asia.

Melco said late Thursday that it would develop the project with three companies controlled by Philippine tycoon Henry Sy. Melco is jointly controlled by Lawrence Ho, who is the son of Macau casino king Stanley Ho, and James Packer, the son of late Australian media magnate Kerry Packer.

Melco has signed an agreement with Sy’s investment holding company SM Investments Corp., his property developer Belle Corp. and Belle subsidiary PremiumLeisure and Amusement Inc.

The Philippines’ casino regulator has already issued a provisional gambling license to the group for the casino, which will include a hotel and shopping and entertainment facilities, and will be located in a middle-class suburb on Manila Bay. A regular license will be issued once certain conditions are met.

Melco expects to invest up to $580 million. The Manila project would be the company’s first outside Macau, the world’s most lucrative gambling market, where it operates two casinos and is developing a third.
In Manila, Philippine President Benigno Aquino III’s spokesman said the resort will be a full-service complex that will provide other entertainment apart from a casino.

“It’s not promoting gambling, per se,” spokesman Edwin Lacierda said. “The plan for the entertainment city is more than just gambling.”

Leaders of the Roman Catholic church had earlier spoken out against the project, saying it would promote a “culture of gambling” in the conservative, majority Roman Catholic Philippines.

High-rolling Chinese gamblers have powered Macau’s gambling revenue growth. Last year, the semiautonomous Chinese region raked in $33.5 billion in casino revenue, up 42 percent over the year before and more than five times the amount on the Las Vegas Strip.

Melco said it wanted to expand in the Philippines because the country is a popular tourist destination and close to major sources of tourists including South Korea, Taiwan, Japan and China.

The company said it wanted to “take advantage of the anticipated growth in the leisure and tourism industries in the Philippines, which will cater to an increasingly affluent and growing Asian middle class who continue to seek new travel destinations and experiences.”

Japanese slot machine tycoon Kazuo Okada is also developing a casino resort in Manila.

The Asia-Pacific region will be the world’s fastest growing casino market from 2011 to 2015, according to a report last year by consulting firm PricewaterhouseCoopers, which also forecasts that it will overtake the United States next year to become the world’s biggest market. PWC forecasts that Philippine casino revenues will more than double to $1.2 billion in 2015 from $558 million in 2010.


For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com.