Sound property management boosts long-term values

MANILA, Philippines - Property management is a crucial factor in boosting property values over the long-term and it involves drafting initiatives to make office tenants, residents and shoppers always happy, according to a subsidiary of leading property developer Megaworld Corp.

First Oceanic Property Management Inc., which was established as a wholly owned subsidiary by Megaworld primarily to handle the upkeep of its office and residential buildings, subdivisions and mall developments along with those of its affiliate companies, is now pursuing the development and implementation of Sustainable Building and Community Management principles. This will include initiatives in power, water and waste management – with a focus on conservation and the intention of lower utility bills among residents and office tenants.

In partnership with the Philippine Green Building Council (PhilGBC), First Oceanic will also develop a rating system for Green communities and townships. On its own, the company will develop and design Green – defined as ecologically and environmentally responsible – business process outsourcing (BPO) office buildings in Megaworld’s new large-scale project, Bonifacio Uptown.

Also among the firm’s main initiatives is the launch of a “Happiness Index” that will “measure the level of satisfaction of residents, corporate locators and tenant employees,” according to First Oceanic VP for property management Rigoberto Santos.

Among the properties in First Oceanic’s portfolio are 15 office buildings with a gross floor area of more than 572,000 square meters. Of these, eight are in Eastwood City, six in McKinley Hill and one in Makati City.

On the residential front, the firm manages all the residential condominiums that Megaworld and its subsidiaries, Empire East and Suntrust, have developed over the past 20 years. These total 170 buildings in all.

On the commercial front, First Oceanic is involved with the upkeep of the Eastwood Mall and Citywalk 1 & 2 in Eastwood City and the Venice Piazza in McKinley Hill, Fort Bonifacio.

Due to the extent of the number and size of the properties under its portfolio, First Oceanic can be considered the largest privately held property management firm in the country today.

The award-giving body noted the building’s lighting management features, elevator use, waterless urinals and collaborative efforts with tenants for electricity optimization.

With its learnings from this project, it is not far-fetched that First Oceanic will implement conservation and other green efforts in its residential, office and commercial portfolio, with the support and initiative of residents and tenants, according to Santos.

“Our clients can rest assured that First Oceanic will be their trusted partner in boosting the value of their property and helping them lead a happy lifestyle whether at home, in the office or even in the mall,” Santos concluded.