| Daiichi Properties
Daiichi Properties
Team size: 15 people
What are the most significant cases or transactions that you have recently been involved in?
Our team has successfully acquired all the essential lots needed for the expansion of the main arterial roads in Tanauan, marking a significant step forward in our township development project. This achievement comes after overcoming significant challenges in legal due diligence, negotiations, and meticulous planning. Our success would not have been possible without the expertise and dedication of our technical engineering and architecture teams, as well as the outstanding collaboration with the local government. We are now poised to move forward with the next phase of our project, bringing our vision for Tanauan closer to reality. This collaborative effort underscores our commitment to enhancing infrastructure and driving growth in the Tanauan township.
Which recent political, economic or regulatory changes have impacted your work the most in recent years?
The recent changes in land classification by the city assessor’s office and the Bureau of Internal Revenue (BIR), which impose higher taxes on the general purpose of the land regardless of actual development, have significant implications for real estate developers and property owners across the country.
The increased cost of land ownership may influence investment decisions. Developers might become more selective about the locations and types of projects they pursue, potentially leading to a slowdown in new developments, especially in areas where the tax increase is substantial. Higher taxes could lead to delays or cancellations of planned developments as developers reassess the financial feasibility of their projects. This can affect the overall supply of real estate in the market, potentially leading to increased property prices due to reduced availability.
How do you motivate and manage your legal team well?
We motivate our team by making them feel valued, encouraging clear and frequent communication, fostering a positive working environment and culture, and open discussion on career progression. I make sure that our team understands the goals and objectives of their work. Clear, achievable goals provide direction and purpose, giving team members something to strive for. Break down larger goals into smaller, manageable tasks, and celebrate progress along the way. Recognising employees for their hard work, achievements, and contributions can boost morale and motivation.
Are the effects of AI on the legal world overplayed, or underplayed?
Currently, I must say it is being underplayed because of the early stages of AI presence in the Philippines and its effect on the legal practice. The full potential of AI will only be noticed once it is in full blown under Philippine set up profession especially as the technology evolves and becomes more integrated into existing systems and practices. I just hope that when that time comes, the legal profession will be able to capitalise on it pros rather than the cons. Lawyers must adapt and embrace these technological advancements to remain competitive in an increasingly digital world. AI should be managed and controlled by the people using it and not the other way around.