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Property Sector E-News Express v23-2017


Residential, hotel property demand remains steady
The Manila Times | May 29, 2017

Demand for residential and hotel/leisure property was steady in the first quarter of 2017, real estate consultancy Pinnacle Research said in a report. Unlike the office market, which Pinnacle described as being tight due to high demand and the limited availability of new office space for lease despite new building completions, demand and supply appear to be well-matched in the residential sector, suggesting growth will remain steady throughout the year. Pinnacle Research said that high-end developments remain the biggest segment of the local market. The real estate analysts explained that approximately 44 percent of condominium developments are high-end (priced over P7 million per unit); 37 percent are middle-market; and 19 percent are lower mid-market (priced less than P3 million per unit). Read more

The champions for growth: From ‘sari-sari’ to global innovator
Business Mirror | May 30, 2017

To elevate the Philippines and make it into a desirable hub for international businesses and foreign investors, a champion who is immersed, dedicated and proudly nationalistic is crucial—it just so happens that the man forging the path is a Dane. Lars Wittig, country manager of Regus Philippines, is a tall, dapper, Caucasian man with light eyes and an easy smile on the surface. Behind all of these, though, he is a true-blue Filipino at heart who isn’t afraid to get down and dirty and fully explore everything the country has to offer. After decades of moving in, out and around the Philippines, it was five years ago when Lars took over the helm of Regus that he finally settled down here for good. Read more

Cebu Landmasters to turn Davao golf course into business district
The Manila Times | May 31, 2017

Developer Cebu Landmasters Inc. has signed an agreement to develop an 18-hectare golf course in Davao into a new central business district, the company announced ahead of its initial public offering (IPO) on the Philippine Stock Exchange. The deal with Davao City’s Huang and Yuson families would develop the the 18-hectare Matina Golf Course in the southern part of the city into a central business district (CBD). “We formalized our agreement last week,” Cebu Landmasters President and Chief Executive Officer Jose R. Soberano III said. Soberano said the CBD project will include a shopping mall, hotels, residential condominiums, offices for business process outsourcing companies, and “probably” a civic center as well as educational and health institutions. Read more

Developer brings more quality homes in Bacolod
Manila Bulletin | May 31, 2017

Hardworking Filipinos here and abroad want to provide their families quality homes they can call their own. Developer Amaia Land helps fulfill their aspirations by making quality homes affordable for most. With this in mind, the developer is welcoming potential homeowners in the Visayas region to the second installment, the South building, of Amaia Steps Capitol Central. Fueled by the success of the condominium’s North building which is now fully sold, the project’s latest expansion will offer additional 276 residential units. “Apart from offering the Bacolodnon the opportunity to invest in homes that are built to last, the launch of Amaia Steps Capitol Central’s second building likewise indicates that the North building, which was placed earlier on the selling block, was a success,” Amaia Land executives pointed out. Located at San Juan Street, Brgy. 8, in Bacolod City, the South building will give residents a view of the city and the wide-open spaces surrounding it, as well as access to the lifestyle amenities found in the courtyard. Read more

Megaworld eyes P3-B sales from ultra-luxury project
Business World Online | June 1, 2017

Megaworld Corp. expects to generate P3 billion in sales from units at a low-rise, residential tower in the so-called “billionaire’s row” in McKinley West, Taguig City. In a statement released on Wednesday, the listed property developer said it will offer only 64 units at The Albany, a low-density tower located beside Forbes Park and McKinley West Village. Inspired by the ultra-luxury apartments in London’s Hyde Park, units will range from a P35-million two-bedroom suite (123 square meters) to a P96 million penthouse suite (up to 349 sqm). “This is Megaworld’s first residential development that exudes the superlative features of everything exclusive, private and sophisticated,” Vice-President for sales and marketing Rachelle I. Penaflorida was quoted as saying in a statement. The Albany’s three-level penthouse suites will have a private keycard-operated elevator that opens directly to the resident’s foyer, four bedrooms, maid’s room, five toilet and bathrooms, powder room, walk-in closet, dining area and a roof terrace with a private pool and grilling garden. Read more

Rockwell Land allots P14B for capital expenditure
Business World Online | June 1, 2017

Rockwell LAND Corp. is allocating P14 billion in capital expenditures this year, as it launches new projects that are expected to expand its recurring income base over the next two years. In a statement on Wednesday, the Lopez-led property developer said it increased capital expenditures to P14 billion, 2% higher than 2016’s actual spending of P12.7 billion. Of this amount, 30% will be allotted for office and retail projects that will add 70,000 square meters (sqm) of additional leasable space. Rockwell Land looks to end the year with a total gross leasable area of 220,000 sqm with the completion of Santolan Town Plaza in San Juan, Rockwell Business Center-Sheridan in Mandaluyong, and the expansion of the PowerPlant Mall in Makati City. “(The contribution of the office and retail) will be about 15 to 20% of revenues. On EBITDA (earnings before interest, tax, depreciation and amortization) last year we were at 36%, more or less the same for this year. Then it will go up to about 40% when we have full occupancy,” Rockwell Chief Finance Officer Ellen V. Almodiel said in a press briefing after the company’s annual stockholders’ meeting on Wednesday. Ms. Almodiel added the company expects to see the full effect of the additional leasing spaces by 2019. Read more

Century Properties forays into affordable housing
Business World Online | June 1, 2017

Century Properties Group, Inc. (CPG) has launched the first phase of its P4.5-billion residential project in Tanza, Cavite, as the developer known for high-end condominiums forays into the affordable market. Phirst Park Homes is the listed property developer’s first venture into the affordable segment, in partnership with Mitsubishi Corp. The first phase of the 26-hectare horizontal community is expected to generate P1.4 billion from the sale of 1,000 housing units. Targeted to be a first home for starting families, units are priced for as low as P1 million for a 40-square meter property with a monthly amortization of P9,000. “This maiden venture of Century into the first-home market seeks to raise the bar in the category, following its tradition and DNA of innovation. PHirst Park Homes is redefining affordable living by offering more value above industry standards, and we are doing so at very competitive prices,” Phirst Park Homes President Ricky Celis was quoted as saying in a statement. Read more

Is the Philippines still a safe bet after unrest, martial law?
Property Report | June 2, 2017

Apprehensions over the incursion of ISIS-linked rebels in the Philippines’ largest Muslim city should be ephemeral at best, analysts with Santos Knight Frank, formerly CBRE Philippines, reassured investors in a news briefing Thursday, GMA News Online reported. “Prospects for Mindanao for long-term are very strong,” said Rick Santos, Santos Knight chairman and CEO, referring to the country’s southernmost island group where martial law has been in effect since last Friday. “Because the government’s decision is expected to be short-term and immediately provide an effective solution to isolated incidents in Marawi.” President Rodrigo Duterte declared martial law over Mindanao as the Maute, restive radicals claimed by ISIS, pillaged Marawi, killing 129 and launching a massive exodus from the city. The emerging secondary cities of Davao and Zamboanga, also in Mindanao, show strong prospects in particular, Santos said. “We have high hopes in the fundamentals of Mindanao. In terms of demographics, the population is young and the continued demand among BPO (business process outsourcing) companies. So it will further drive office market demand.” Read more

Still bright prospects
The Philippine Star | June 4, 2017

There is no stopping the growth of the Philippine real estate industry. Thanks largely to the business process outsourcing (BPO) industry, demand for office space in particular continues to grow, despite anxiety over the protectionist policy of US President Donald Trump, according to the first quarter 2017 report of Pinnacle Real Estate Consulting Services. In the report entitled Go, Grow and Glow, Pinnacle also noted that the Philippine economy has been going from strength to strength, and will continue to grow. It said that business decision to outsource service may be more efficient as compared to outsourcing manufacturing that may face additional tax backlash from the US federal government, noting that the consensus is that when US companies outsource the service component, Philippines remains to be on top of their list. Pinnacle research and consulting director Jojo Salas said that demand for housing and residential products has not been adequately served due to the ever-increasing population. “Demand for commercial-retail and hotel has been underserved as well. Local and foreign manufacturers have been looking for suitable industrial spaces as well. Read more

 

 

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