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Property Sector E-News Express v31-2017


Developer cited for high-value portfolio of projects
Manila Bulletin | July 24, 2017

With new hotel, retail and office developments set for completion from now up to 2021, Aseana Holdings Inc., a subsidiary of the DM Wenceslao group and developers of Aseana City, was recently cited by BCI Asia for its high value portfolio of hotel, retail and office developments in the pipeline. BCI Asia conferred on Aseana Holdings the Top 10 Developer Awards 2017 for having “made the greatest contribution to the built environment in the prior year,” according to the BCI Asia website. The BCI Asia awards are held in seven territories in Asia namely, the Philippines, Hong Kong, Indonesia, Malaysia, Singapore, Thailand and Vietnam. Read more

Ortigas & Company launches P10-billion project in Greenhills
Business Mirror | July 25, 2017

In a bid to regain its status as a premier business and entertainment center, Ortigas & Co. is making all the stops to ensure the P60-billion redevelopment plan of Greenhills Commercial Center is on the right track. The 86-year old company has recently launched a residential tower called Connor, the flagship project of the property developer seeking to revitalize Greenhills. From the P60-billion fund, P10 billion will be allotted for the development of Connor, the second residential development of the company following the Viridian. The 55-story Connor tower will rise on the intersection of Club Filipino Avenue and Eisenhower Street. It is envisioned to bring in a fresh take on the iconic estate, which is now being transformed into a complete shop-work-play-live destination. Read more

Developer builds 7th residential tower in Iloilo Business Park
Malaya Business Insight | July 27, 2017

Megaworld Corp. is building its seventh residential project in its mixed-use development Iloilo Business Park in Iloilo City. This follows the French-themed residential project Saint Honore launched in August last year. “The 10-storey Saint Dominique will be another Parisian-inspired residential development that will rise beside Saint Honore in the 72-hectare township in Mandurriao, Iloilo City,” Megaworld said. The tower will have 152 units on eight residential floors ranging from studio (up to 35 square meters) to one-bedroom with balcony (up to 50 sq.m.), two-bedroom (up to 79 sq.m.) and exclusive loft units (38.5 sq.m.) Jennifer Palmares-Fong, vice president for sales and marketing at Iloilo Business Park, said the company already sold out Saint Honore “in just four months” since its launch. Read more

Luxury real estate conquers BGC, Alabang
Malaya Business Insight | July 27, 2017

Luxury real estate brand Filigree makes its mark in two of the country’s prime locations, where it is set to redefine modern, upscale urban living with its high end residential developments. Filigree’s flagship project, The Beaufort, is located in Bonifacio Global City while its other exclusive project, Bristol at Parkway Place is in Alabang and is that area’s tallest residential residential building. Designed by architectural firms Miami-based Arquitectonica and local R. Villarosa Architects, The Beaufort is a 43-storey, two-tower high rise on the corner of 5th avenue and 23rd street in Bonifacio Global, offering a superb and unobstructed view of the city and Manila Golf. The Beaufort was built with only four units to a floor to provide owners generous living spaces and utmost privacy—two signature characteristics found in every Filigree development. The East Tower features a balanced mix of one- and three- bedrooms, while the West Tower features two- and three-bedroom units all with high-end finishes to suit the discriminating taste. Residents will find living in The Beaufort comparable to a five-star hotel. Read more

Going full circle in Cebu
Malaya Business Insight | July 27, 2017

Robinsons Land Corp. (RLC) comes full circle in Cebu City where John Gokongwei’s ever-growing conglomerate, JG Summit of which RLC is part of, had its beginnings. Three of RLC’s newest realty developments are set to fortify the company’s presence in the Queen City of the South. These are the Azalea Place, Galleria Cebu Residences, and AmiSa Private Residences. Finding the right place to live in entails a lot of factors to consider, especially in a highly-urbanized city like Cebu. RLC said of utmost consideration is the value the homeowner’s chosen location gives back to him: It must not only give a comfort zone but also the other essentials of dwelling in a metropolis. RLC said paramount to this is the travel time; ensuring a homeowner does not spend much time being trapped in clogged thoroughfares and always get home in the shortest time to bond with the rest of the family. The Azalea Place, located on Gorordo avenue in Lahug district, provides the residents ease of access to the city’s tech hub and centers of learning, as well as government agencies. Azalea Place affords urban dwellers modern serenity at the heart of the city. Read more

Decongesting cities
Cebu Daily News | July 28, 2017

Billions worth of infrastructure projects under the “build, build, build” thrust of the government is a welcome development in Cebu since these are expected to decongest Metro Cebu particularly, cities like Cebu and Mandaue. Roy Soledad, head of the Cebu Investment Promotions Office (CIPO), said that if all the activities are centralized in the metropolitan, real estate developers will grab the opportunity to offer more options that buyers in the area or within its vicinity can avail. “But if Cebu City is unclogged and the businesses, particularly IT-BPM (Information Technology-Business Process Management) in nature, are brought to the countryside, these structures are no longer necessary for locals,” Soledad said in an interview. This included the the construction of the P50-billion 74-kilometer Metro Cebu Expressway, an integrated seamless transport system that will decongest major thoroughfares in Cebu, which the Department of Public Works and Highways (DPWH) is set to undertake next year. Read more

Delays hound property market
Philippine Daily Inquirer | July 29, 2017

The Philippine office property market is poised to benefit from a sustained robust demand, but an “unhealthy” vacancy rate may hamper the possible expansion of existing and new businesses. Pronove Tai International Property Consultants even warned that the current 4 percent office vacancy rate in Metro Manila “does not bode well for the industry.” “Anything below 5 percent is unhealthy. Such low rate does not provide expansion space for existing and new businesses within the building or the district,” explained Pronove Tai CEO Monique Pronove. Low office vacancies Data from the consultancy firm showed that the vacancy level in Makati City—the largest office district in the country to date in terms of gross leasable area (GLA)—stood at 2 percent while in Taguig City and the Bay Area (which covers the cities of Pasay and Parañaque), a 3 percent vacancy was recorded. The vacancy in Ortigas Center meanwhile was the lowest at 1 percent, it claimed. Read more

Housing loans deconstructed
Philippine Daily Inquirer | July 29, 2017

Put together your shapes and sticks, and you have drawn a house. Save money you could have spent for your coffee, and you may actually own one. For instance, in an article entitled, “Pinoy Millennials Turn into Homebuyers” dated July 27, 2016, the Philippine Daily Inquirer (PDI) reported on 8890 Holdings Inc., a mass housing developer which offers condominium units and houses priced between P450,000 and P1. 4 million. “It’s like a brand new home for the price of a good secondhand car, or a monthly amortization equivalent to two cups of coffee everyday at Starbucks,” said 8890 Holdings, Inc. president Januario Jesus Atencio III. The PDI further reported that young adults may now avail themselves of a housing loan to purchase their own units for as low as P5,000 to P6,000 a month. With housing made accessible, it is not surprising that banks have deepened their exposure to the property sector. Read more

Designing to fight climate change
Philippine Daily Inquirer | July 29, 2017

Over the next 30 years, some 2.4 billion people are forecasted to live and work in the cities within the Pacific Rim economies, according to estimates by the Asia Pacific Economic Cooperation (Apec). But there is a clear downside to this massive urban migration should no clear plans on sustainable urban development be implemented across the region. For instance, the consequences of inefficient buildings may only grow in significance, raising energy costs for consumers and tripling building emissions by 2050. As it is, buildings already account for about a third of energy use and a fifth of energy-related carbon emissions globally. New action This has thus prompted new action in Apec to break ground on next generation building development, amid spiking environmental and economic costs of energy inefficient homes and offices, exacerbated by soaring temperatures and cooling needs. “The Asia-Pacific is leading the way when it comes to building construction but energy efficiency standards are not keeping pace,” explained Dr. Jyuung-Shiauu Chern, lead shepherd of the Apec Energy Working Group. “Overall, we’re most concerned about increasing demand for cooling linked to rising temperatures.” “We are taking new steps in Apec to help our member economies optimize local building codes needed to phase in more energy efficient projects. Improving these codes will ultimately reduce energy costs for residents and businesses. Read more

 

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