ANVIL MEETS LICUANAN

The Association of Young Filipino-Chinese Entrepreneurs (Anvil Business Club) held its 7th Business Exchange Forum with real estate legend Francisco H. Licuanan III who gave deep insights about the Philippine Real Estate business from his perspective as a professional and respected industry veteran.

Speaking to a jam-packed audience, Mr. Licuanan dispelled fears of an impending real estate bubble, citing the country's current political stability and strong economic fundamentals, fueled by increasing numbers of overseas Filipinos whose remittances – conservatively estimated at USD22 billion annually – has transformed the nation's treasury into a current account-surplus, proving to be remarkably resilient to global economic cycles.

Against this backdrop, he also accounted for the strong structure of the Philippine Real Estate market whereby eight of the nation's major condominium developers are not highly leveraged and have healthy financial ratios. Finally, he noted that the current high demand is fueled by the relative attractiveness of real estate, as compared to other investment alternatives (e.g. stocks, money markets, offshore investments). He advised the audience not to engage in speculative purchases, but rather, invest in long-term acquisitions with the aim in view of contributing to the transformation from a slow and barren landscape into a progressive and lively panorama of progress.

Mr. Licuanan is a highly esteemed leader in promoting sustainable infrastructure through urban development. He served as Senior Vice President for Ayala Corporation for nine years before becoming Ayala Land’s President and CEO for 16 years. After his retirement from Ayala Land in 2004, he formed Geo-Estate Development Corporation. He was appointed by the late President Corazon Aquino to Chair the Board of Administrators of Broadcast City, which supervised the operations of Channels 2, 9 and 13 and their associated TV and radio networks from 1986 to 1987. From 2004-2005, upon retirement from Ayala Land, he was appointed Adviser to President Gloria Macapagal-Arroyo for Subic-Clark Area Development and concurrent Chairman of the Subic Bay Metropolitan Authority (SBMA). Mr. Licuanan graduated Cum Laude with a degree in Economics from the Ateneo de Manila University. He then went on to become Assistant Brand Manager for Procter & Gamble before going to Harvard Business School to obtain his Masters in Business Administration.