The CEO Magazine Asia - 09.2018

theceomagazine.com | 43

W

ith demand outpacing supply and less

than five per cent vacancy in its central

business district, Metro Manila is set to

become one of Asia–Pacific’s top hubs

for property investment in the coming

years. New government policies and

incentives have created a steady inflow of both foreign investors

and overseas Filipino workers, contributing greatly to the

Philippine’s promising six to seven per cent economic growth

over the past five years.

A small but strong player in this burgeoning property

market, Euro Towers International Inc., stands strong in its

mission to deliver the ultimate urban living experience.

Blending comfort, accessibility and affordability, the business is

backed by a competitive team of developers and marketing

experts with experience in the hotel, construction and real

estate industries. The group currently manages three core

residential projects: Vivaldi Residences Cubao, Vivaldi

Residences Davao, and the Milan Residenze Fairview in

Quezon City.

“Although we’re a small organisation compared with

many other industry players, we’re a very brave team. Why

brave? Because we don’t work on the fringes – we work in

locations that are the envy of our competitors – in the heart

of the CBD,” says Euro Towers COO Maricar Encarnacion.

Over the past 20 years, Maricar has honed her skills in both

consumer banking and property development throughout the

Philippines and, since 2014, has directed this skill set towards

driving results at Euro Towers. “When I joined the company,

I saw it was lacking direction in terms of project monitoring

and management, so I’ve worked hard to inject a lot of

innovation and automation into the business.”

While Maricar focuses on optimising Euro Towers’

internal processes, Director of Construction and Development

Group, Roy Estanislao, looks after its condominium projects

throughout Metro Manila and its Davao City project in

Mindanao. A licensed engineer with extensive experience in

building construction and property development, Roy has

handled several mid-rise and high-rise building projects over

the past 25 years. “In the past, only the wealthy or those in

the high-income bracket could afford to buy condominium

units. But now, there are dozens of developments that cater

for middle-income earners, who make up a much larger

market than the affluent minority,” he explains.

A COLLABORATIVE CULTURE

As one of the newest players in the industry, Euro Towers has

accumulated a diverse workforce of property professionals.

While this initially brought a wealth of experience to the

growing company, Roy says it also created a clash of

opinions, work standards and ideas. “We’ve come a long way

since then, and we’ve learned to function as a cohesive and

supportive team,” he explains. “We jumped right into the

deep end with our first 38-storey project, compared with »

EURO TOWERS COO MARICAR ENCARNACION AND DIRECTOR OF

CONSTRUCTION AND DEVELOPMENT GROUP ROY ESTANISLAO SHARE THEIR

VIEWS ON THE GROWTH AND PROSPERITY OF THE BOOMING BUSINESS.

WORDS HOLLY JOHNSON � IMAGES JASPER SALCEDA

REINVENTING

REAL ESTATE

VIVALDI RESIDENCES DAVAO

Set to become Davao’s tallest building, the 37-storey

Vivaldi Residences Davao is also designed to be the

city’s safest. It will feature a record-breaking bored

pile foundation depth of 59 metres (the deepest

in Mindanao), which is equivalent to the height of

a 15-storey building. Euro Towers promises that an

investment in one of these units is as stable as the

building itself, with more than PHP120 million

being spent on the foundation alone.

Interview | INSPIRE