Developers tap TV show to search for properties
“For the first time ever, we will be producing a season with a theme. The Final Pitch Season 5: Real Estate and Livable Cities Edition will be the first season focused on real estate projects, urban solutions and property technologies that contribute to the livability and sustainability of our cities,” said John Aguilar, a serial entrepreneur and the creator and host of the show. Aguilar is also the CEO of Dragon’s Nest, a startup venture that aims to build the ASEAN region’s next exponential startups. The show’s fifth season will start filming this November and will begin airing early 2020. The Final Pitch Season 5 will feature landowners and entrepreneurs who will pitch their properties and businesses to a panel of investor-judges who are looking to own a piece of their properties or companies. Previous seasons of the show focused on various technology startups and small and medium enterprises pitching their businesses to investor judges for funding. This time, real estate-related deals and solutions for the property sector will be at the forefront. “With the jitters created by the possible volatility of the demand from the POGO [Philippine offshore gaming operation] sector impacting the entire industry, there is now an even more urgent need to prepare for an eventual down-cycle of the property sector and future-proof the business interests of developers and construction industry stakeholders,” Aguilar said. “This can be done by either consolidating landholdings for the future, or even totally shifting business models to prepare for the seismic shifts that technological disruption will bring to the real estate sector,” he said. Pitching for property A property owner or owner’s representative or broker can pitch a property to the show’s investors. “Whether for sale or joint venture, we are looking for properties across the Philippines ranging from raw land, buildings, islands, even prime properties in the Metro,” Aguilar said. “Our foremost criteria for accepting these properties for consideration will be that the title is clean. We will not engage in a broker or broker’s representative who does not have exclusive rights to market or sell the properties they are proposing,” he said. He said that properties or projects with an existing prospectus or highest and best land-use study are preferred, but not required. If the property is for sale, the selling price must be at least 20 percent below market value. The properties must be free from any liens and encumbrances and must be fully owned by the party pitching the property. These properties will be pitched to the investors with the intention of selling the properties to them or engaging in a possible joint venture project together.