BIZ BUZZ: Coming soon: New BSP deputy

MANILA, Philippines — The financial supervision unit of the Bangko Sentral ng Pilipinas (BSP) is about to witness a changing of the guard—and the buzz in the halls is impossible to ignore.

As Deputy Governor Chuchi Fonacier gears up for her much-deserved retirement after a distinguished career leading the central bank’s Financial Supervision Sector, industry watchers are already placing bets on her likely successor. And one name keeps coming up: Assistant Governor Lyn Javier.

READ: Another deputy governor set to exit BSP

Now heading the BSP’s Policy and Specialized Supervision Sub-Sector, Javier is a very strong candidate. She oversees a portfolio that spans everything from treasury and trust operations to money laundering controls, IT oversight and supervisory policy—a seriously powerful résumé that has people saying she’s more than ready to step up to the “DG” title.

And here’s a fun fact: save for a brief stint with media giant ABS-CBN, Javier is a BSP talent through and through.

She started her career at the central bank after leaving the University of the Philippines, where she earned her BS in Business Administration and Accountancy. Since then, she has climbed the ranks steadily, leveling up with MBA degree from the Ateneo Graduate School of Business along the way.

With her deep institutional knowledge and broad regulatory experience, it’s no wonder there’s chatter about her next big move. Watch this space. —Ian Nicolas P. Cigaral

More eyeballs, more buyers?

There seemed to have been some anxiety surrounding the local real estate market earlier this year, especially with brokers flashing warning signs about how it would take years to clear the inventory in Metro Manila.

But the fears appear to have died down—or ease for a bit, at least—by the end of the first quarter.

Both Colliers Philippines and Leechiu Property Consultants Inc. saw some improvement in terms of take-up and remaining inventory.

Of course, it should come as no surprise that DMCI Homes, one of the country’s property giants, benefited from this.

The company has said that more prospective buyers have visited its project sites in the first five months of the year.

READ: DMCI Homes slows down launches amid glut

DMCI Homes’ client site visits during the period surged by 70 percent to 6,741. And this usually means more potential buyers despite what is perceived to be a property slump.

“A lot of people are still eager to buy, but I think affordability issues are out there and also because of the reported oversupply in condo units,” DMCI Homes president Alfredo Austria said.

“What’s good is that there are a lot of RFO (ready-for-occupancy) units now and they can see for themselves the quality and value that each developer is offering,” he adds. “I think that is good because we’ve been focusing on improving quality and value for the customer.”

RFO units also accounted for 47 percent of DMCI Homes’ total condominium sales from January to May, a big jump from just 14 percent last year.

Is the local property market finally seeing the light? We hope so! —MEG J. ADONIS