Members of the executive boards from the two organizations held a closed-door meeting in Nusa Dua, Bali, on Wednesday to work on some of the progress made in New York earlier this year on the possibility of an alliance or a merger.

“It’s basically to make one and one can actually be three.” Fiabci world president Lisa Kurrass told The Jakarta Post.

Kurrass said board members were trying to define how the two organizations could complement each other as Fiabci mostly catered to individual members whereas Icrea provided services to real estate associations.

“And so, we will be working on those two areas, which are complementary, to build the greatest, world’s largest organization in the world,” she said.

Previous meetings between Fiabci and Icrea had defined several areas where the two could work and cooperate. Icrea chairman Peter Bolton King said the areas included technology, advocacy and administration.

“I think certainly both organizations are very, very clear that there are areas, which are almost no brainers that we should be working and cooperating on. What we have to decide is how far can that go,” he told the Post.

Technology was one example where the two organizations could cooperate as they tend to produce similar applications to support the business operations of their members. “What is the point in both of us spending money on sometimes identical things,” King said.

Fiabci secretary-general Terrance Barkan said there was already an overlap between the two organizations as about 30 percent of Fiabci members were also Icrea members.

“We think it is in the best interests of our members, we think it is in the best interests of the industry to have one body that has brought a representation,” he said.

Barkan said results from the meetings with Icrea would be discussed in Fiabci’s annual general assembly on Friday as part of the latter’s 61st world congress, which would officially be opened by Indonesian Vice President Boediono on Thursday.

“Before any actual merger can take place, it would need full support in vote from the members of both organizations. So the boards at this point are exploring what the implications could be, what the potential benefits could be,” he said, adding that the process would take at least six months.

So far, the overall consensus among members of both organizations has been very positive, Barkan said.

However, they are adamant that both Fiabci and Icrea retain their cultural identity, traditions and benefits. “One plus one equals three, that’s the objective here,” he said.

Popular

Cambodia and Thailand agree to ASEAN observers to ensure ceasefire holds

'Kebaya': Living history, modern elegance

Two Chinese nationals die in Bali boat accident