ULI Philippines is hosting, in partnership with AON, A Dinner Series, an intimate and exclusive event for Full Members. The first of this dinners, focusing on various Risks faced in Southeast Asia, was held last October 12, 2017. Dan Bould, the Head of Crisis Management from AON, spearheaded the discussion on the growing threat and risk of terrorism especially for the real estate sector.
- With the emergence of IS, there comes the radicalization of local populations in Malaysia, the Philippines, Indonesia, even China. In 2017, we can expect to see a further increase in terrorist activity in Asia. This is associated with the rise of IS throughout Asia, and the number of Asian citizens who have returned from fighting in the Middle East, radicalized, to their home countries.
- Domestic and international risks are interdependent and complex. Efforts by nationalist and populist governments to raise the drawbridges are unlikely to represent a solution. Businesses should not be complacent about their risk exposures, and should take proactive measure to assess, manage and transfer risks.
- Significant geographical variations in the terrorism threat level are also likely to persist. While there are few positive signs of a peace deal with Communist insurgents who operate in areas countrywide in 2017, there are better prospects for progress towards a negotiated solution with southern Moro separatists. Beyond domestic security, it is extremely unlikely the country will resolve international territorial disputes in the South China Sea this year. the president continues to consolidate his hold on power in early 2017. Despite this, and his broad base of personal popularity, his authoritarian tendencies and his violent, controversial campaign against drugs point to the potential for sudden and destabilizing political crises to emerge.
- Real Estate developers can implement stricter risk assessments for their most coveted real estate project, usually the one that impacts their reputation the greatest. Simple solutions, like bollards, CCTV, better trained guards, and frequent risk audits, are possible.