Eric Rey de Castro, Country Manager for Peru property consultant Colliers International, is our guest as Professional of the month in the current issue of building management.
By Santiago Jaramillo Hincapie
Our Professional of the month is an entrepreneur with deep knowledge of the real estate business and a clear vision of the industry and its trends. Eric Rey de Castro, our guest, is Country Manager for Peru property consultant Colliers International, is known for being a knowledgeable and meticulous analyst of the fundamentals of real estate industry.
It is also to highlight its experience in commercial real estate, in addition to skills in strategic planning, placement locations and negotiation. It has over 20 years of professional experience and 15 as CEO of the sector.
Also excels in its curriculum for being Chairman of Investment Real Estate Larrain Vial - Colliers (FIBER), President of the Peruvian Chapter of the Green Building Council (Peru GBC), Delegate of the Peruvian Chapter of the Urban Land Institute (ULI), local Delegate RICS (Royal Institution of Chartered Surveyors) and Board Member of Colliers Latin America, Penta Realty Group, Park Golf and several other companies in the sector.
Eric counts among his studies with a degree in Business Administration from the University of the Pacific (Lima, Peru), and is also a systems engineer at IBM Corporation. He has participated in courses Real Estate McDonalds's University, ULI and Colliers University. He is also a member of the Peruvian Association of Realtors: ASPAI.
He currently heads a team of almost 400 professionals, leading the entire range of the company, such as: Consulting, Valuation, Facility & Property Management, Investments, Brokerage, among others, paras office markets, retail, industrial and land. It is also responsible for strategic planning and business development and financial results of the company.
Eric Rey de Castro is positive against the behavior of the market it serves, nevertheless he believes that "the real estate is an industry that requires long term to be successful and that the important thing is that the country no longer show signs of confidence and stability . The office market, for example, approaches the stage of oversupply and demand is not accompanying the expectations of developers. In this sense, there are other variables which invigorate this market, for example the arrival of more investments, "says our guest.
Looking to the provinces would be one of those alternatives that saturates our guest as a good choice, as he emphasizes, that having room to grow, many companies (including directing) develop their business projects there.
However, Rey de Castro argues that to grow inside the land price should not be so decisive: "Sometimes the permissions are complex or the idiosyncrasies of the place is not suitable for planned. I've seen projects that lack of control have lost what in matter of principle go provinces- thought win. "
According to our Professional of the Month, "which has differentiated the Peruvian market are two things. The first and most important it is that for the real estate business to flourish there must be long term and only in recent years has taken this vision for stability, growth and clear rules, which are the foundation for Peru with this future . With this situation trade credit (cards) and mortgages, which is in the first case the engine develops commercial developments, and in the second the dynamic of the residential sector. You can not make a draft mall if you do not have a structure long-financing. You can not buy an apartment if you have a mortgage, which in turn has to be for an extended period. Those are the two engines of real estate development and are related to stability and long-term vision of the country ", he ponders.
On the other hand, our guest says that in his country, the main factor that has hurt small estate, especially in what has to do with the residential sector has been the decrease in the rate of placement. "Before it was sold in presale near 84% of households now only manages to place the 65% at this stage.
As for what the expectations for the sector, our Professional of the month emphasizes that "To continue growing. If things continue well into the economy in the coming years property values will increase to par. Do not forget that real estate investments should be part of the investment portfolio of any company or serious investor and this I do not say, but the "Wealth Report" Capgemini analyzing the wealth in the world and gives real estate one 20 25% to investment portfolios in ".
The mark representing
Colliers International, which is a benchmark in Peru, was born in 1997 when R Properties SAC, one of the real estate companies leading the country, founded by our guest Eric Rey de Castro and providing brokerage services property from 1955 he became its representative office. In parallel, the Consulting area was developed, which was his main objective, in order to build the basis of more complete data Peru of the various markets that make up the real estate industry and on that basis to offer consulting services for projects investment studies optimal placement of commercial premises, market reports, representing users, valuations, studies Highest Best Use / HBU, among others.
They created the Corporate Services area, which professionalized the traditional brokerage and introduced new services such as contract renegotiation, representing owners, investment contests on land, etc.
After the success in the early years, Colliers International Property Consultants partner becomes shareholder in R Properties SAC in the year 2001, committed to develop professional services in a market with great potential such as Peru. After its consolidation in Lima and to the development of the main cities of the country, they advanced work of identifying potential areas of commercial and residential development based on detailed field studies with successful results for clients who have seen provinces new poles developmental.
Besides from its headquarters in Lima attend any request to be present in the markets of Ecuador and Bolivia.
Our guest noted that at the end of 2011 joined the MG Corporation to provide integrated real estate services and complete the value chain and include service Property management (Real Estate Management Service), which today is a plus and benchmark the country.