The two-day 11th FIABIC Asia Pacific Regional Secretariat Summit that concluded in Medan Indonesia recently was not “talk shop” but a fruitful sharing of relevant information of prevailing real estate situation in participating countries.
The secretariat’s Board Chairman Dato’ Alan Tong, in his opening remarks, said the bonding of members in the region had helped generate business in the real estate industry.
He said as uncertainty continued to surround future prospects, the theme of the 11th summit on ‘Growing Regional Economy: Opportunities for Real Estate’ was most timely.
He said a deeper understanding of the different scenarios of real estate in Asia Pacific would provide insights to help attract international investors’ interest in property.
The summit was officially opened by Bapak Suharso Monoarfa, the Indonesian Minister of Public Housing. Present were FIABCI Indonesia president Bapak Teguh Satria, FIABCI Malaysia president Yeow Thit Sang, FIABCI Australia president Robyn Waters, FIABCI Korea president Lee Joo Young, FIABCI Singapore and Macau secretary general Peter Koh and Richard Ge, and FIABCI Asia Pacific regional president cum secretariat executive director Dr Yu Kee Su.
Overseas FIABCI members, who made up a quarter of the 200 delegates, came from Australia, South Korea, Singapore, Macau, Thailand and Malaysia. Others are local delegates from all over Indonesian provinces.
Speakers Datuk Faudzi Naim, chairman of Joint Business Council of IMT-GT (Indonesia-Malaysia-Thailand Growth Triangle), and Bapak Romeo Rissal Panjialam, regional head of Central Bank of Indonesia, both delved on real estate opportunities in their respective regions while Robyn Waters gave a country report of Australia.
From Macau, the latest member country to join FIABCI Asia Pacific, delegates heard about the hidden opportunity there, where property prices have risen at the rate of 50% a year over the past five years and is expected to rise by 30% annually over the next five years.
The 11th summit’s organizing chairman Rusmin Lawin, said Indonesia is poised for growth as it resides in Asia Pacific region which is the growth centre in the 21st Century. He is REI (Real Estate Indonesia) Sumatera Utara chairman and has been appointed secretary general of FIABCI Asia Pacific Regional Committee.
Other speakers are Ms. Jaslyn Sim, Managing Director of Richmond Consultants (MM2H) Malaysia; Ms. Robyn Waters, President of FIABCI Australia; Dr. Tan Tee Khoon, Chief Executive Officer of SAEA Limited Singapore; Mr. Richard Ge, Executive Secretary General of FIABCI Macau, and Mr. Michael Geh, Secretary General of FIABCI International Education Committee, Senior Partner of Raine & Horne International.
Much awaited is the next FIABCI Asia Pacific Regional Secretariat Summit in March next year though the venue has yet to be confirmed either in Singapore or Australia.
The FIABCI Asia Pacific Regional Secretariat was set up in 2006 aimed to lighten FIABCI headquarters’ administrative workload in Asia Pacific by concentrating their efforts in Europe; and to provide services to members in Asia Pacific for networking and business opportunity.
The biannual Summit meeting is one of the activities that provided by the secretariat to Asia Pacific members.
FIABCI (International Real Estate Federation) members are developers, estate agents, valuers, planner, architects, property managers, real estate magazine publishers, etc.