SAN FERNANDO CITY–It’s boom time for the real estate industry in Region 1, particularly in Pangasinan.

The real estate industry in the Ilocos Region posted an average annual growth of 14% for the past seven years, more than double the 5.5% rate during the preceding period, based on a report by the Housing and Land Use Regulatory Board (HLURB).

The increase is reflected in terms of   licensed real estate projects that were built from 2000 to2007 in the provinces of Pangasinan, La Union, Ilocos Sur and Ilocos Norte, said HLURB Regional Director Teresita Valdez Galacgac.

Galacgac reported that Region I has now 322 licensed real estate projects, of which 86% are residential subdivisions, 12% are memorial parks, and the rest are condominiums.

These developments are spread region-wide with 54% found in Pangasinan, 26% in La Union, 10% in Dagupan City, 7% in Ilocos Norte and 4% in Ilocos Sur.

Addressing real estate developers who attended the HLURB-Real Estate Developers Conference at Hotel Mikka here last week, Galacgac said this was based on the number of subdivision projects, condominiums and memorial parks licensed by her office.

She also acknowledged the presence and support of not only the leading local developers but also major national developers like Robinsons Land Corporation, Jamaica Realty Corporation, Crown Asia, and South Rock Realty, among others.

The Housing and Urban Development Coordinating Council recently ordered the creation of a one-stop shop for filing of applications for License to Sell, with HLURB as the issuance center.

The operating guidelines for the new directives are currently being finalized.

After the conference, Galacgac organized the Association of Real Estate Developers (ARED), a homogenous group of owners and developers of subdivision projects, memorial parks and condominium projects in Region I.

Elected interim Board of  Directors and Executive Officers of the ARED are  Atty. Reynaldo Dulay, developer of Eastwood Homes, West Coast Beach Subdivision and West Coast Suite Condominium in Bauang La Union as President; Engr. Vic Sison of Greenville

Realty in Urdaneta, Pangasinan as Executive Vice President; Rogelio Lazo of Monte Vista-Bantay, Ilocos Sur, Vice President for Internal Affairs; Engr. Rolando Ferrer of RTF Construction and owner of Grand Royale Subdivision-Bugallon, Pangasinan as Vice President for External Affairs; Rey Nisce of Eso-Nice Realty, developer of  Eufrosina Heights in San Fernando  City, La Union as Treasurer; Rodrigo Tadifa, regional manager of Jamaica Realty Development Corporation as Auditor; and Engr. Rainier Fuster of Fuster Garden-Binalonan, Pangasinan, Public Relations Officer.—LM

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