CREBA to address concerns on proliferation of fake titles

CEBU, Philippines – The Chamber of Real Estate and Builders Association (CREBA) aims to draw out a plan to address the worsening problem on the proliferation of fake property titles, which has already taken a toll on the growth of the real estate industry.

Members of CREBA and other industry stakeholders will tackle the issue during the upcoming 4th General Membership Meeting on September 30.

Participants to the meeting will include realtors, real estate developers, construction companies and service providers, home builders, suppliers and a wide range of professionals engaged directly and indirectly in the real estate industry.

The meeting will also include updates on CREBA Cebu such as plans, programs and upcoming activities for the year which will be reported by its president, Realtor Herbert Engle-Buot.

Atty. Emmanuel M. Gimarino of the Registry of Deeds, Cebu City, an expert on land titles, will discuss on the identification of real and fake land titles as well as the proper actions to take when you are given fake titles.

CREBA chairman Jimmy Cura said that Cebu will have its own "economic stimulus" in the form of real estate, as this is seen to re-enforce Cebu's 'already' dynamic economy.

CREBA hopes that the government will immediately come up with an efficient housing program that will not only address the housing back-log of the country but also create jobs, specifically for the growing "displaced" employees.

CREBA-Cebu president Jose Soberano said that there are lots of emerging real estate opportunities in tourism that industry players can take advantage of, aside from promising housing sector.

"Significant growth in annual tourist arrivals especially for Cebu, have led to more condominium and condominium-hotel projects, which foreigners own," Soberano said.

Cebu will actively partner with the Department of Tourism's (DOT)"Live Your Dream Campaign" that encourages foreigners to invest in condominium units in the Philippines instead of regularly paying for hotel accommodations during their visit here.

But Cura called on government to speed up infrastructure projects- airports, bridges and roads that will support the needs of the real estate industry.

Cura emphasized that the multiplier effect of developing more the country's real estate sector, where he said that according to estimates made by real estate players, every house that is being constructed generates 60 jobs.

Cura is confident, though, that once the infrastructure projects are carried out, the Philippines could easily lure in 10-million tourists annually.

CREBA-Cebu has over 30 members that include developers, builders and real estate brokers. (FREEMAN)