Inquirer - The real estate arm of Philippine conglomerate Ayala Corp. said
Tuesday it planned to create another major business district in Manila
after casting the highest bid for a government property.
Ayala Land offered P24.33 billion ($579 million), more than two other
real estate firms, for the Food Terminal industrial estate, the company
and government officials said.
The 74-hectare (183-acre) property is located near major government
highways and will become “the southern gateway” to Manila, Ayala Land
said.
The company will develop the area in a manner similar to the upscale
housing, office, hotel and shopping mall projects it has set up in other
parts of the capital and across the country, Ayala Land spokesman Jorge
Marco said.
“It’s going to be another business district and it will have all our
product lines: residential, retail, office and hotels,” he said.
Ayala Land’s bid exceeded the floor price of P10.2 billion for the
property, said Melinda Cortez, marketing chief of the government’s
privatization office.
She described it as the biggest government privatization effort in years.
However, the government’s economic ministers must still study the bid
for 60 days to see if it meets all financial and legal qualifications
before declaring Ayala Land the winner, Cortez added.
The estate, formerly a major government food processing facility, is
now an industrial estate where warehouses, offices and stores are
already operating.
The Philippine government tried to sell off the facility in 2009 but failed to attract enough bidders.
For latest update on real estate
development and its RA 9646, the Real Estate Service Act of 2009, visit
www.ra9646.com.
Thursday, August 23, 2012
Wednesday, August 15, 2012
Ayala wins FTI auction
BUSINESSWORLD - AYALA LAND, INC. (ALI) was named the highest
bidder as a Food Terminal, Inc. (FTI) auction finally pushed through
yesterday, with the developer’s P24.331-billion tender surpassing offers
made by two other leading property firms.
With prior attempts since the ’90s having failed, the Privatization and Management Office (PMO) claimed the sale, which it described as a success, had been helped by a rosy investment climate and optimism in the government.
The ALI bid was more than double the government’s P10.248-billion base price for 74 hectares of the 103-hectare industrial complex.
Gokongwei-led Robinsons Land Corp. had the second-highest offer of P14.667 billion, while Andrew L. Tan-controlled Empire East Land Holdings had the lowest bid of P11.248 billion.
Four other real estate giants -- Gotianun-led Filinvest Land, Inc., Sy-led SM Land, Inc., as well as Rockwell Land Corp. and Century Properties Group, Inc. -- that had prequalified for the auction did not submit tenders.
FTI is one of the largest industrial lots in Metro Manila and it lies in a prime location in Taguig City, near the South Luzon Expressway and the end of the C-5 highway. Given its proximity to major thoroughfares, ALI hopes to develop the sprawling property into another central business district (CBD). The firm already holds a portfolio of CBDs in the cities of Makati, Taguig, Quezon and Cebu.
"The property will be the southern gateway into Metro Manila, similar to our Vertis North, our northern gateway development," ALI Chief Finance Officer Jaime E. Ysmael yesterday said in a statement.
"With these two developments, we are now well positioned to capitalize on the development opportunities of these two growth centers, supplemented by the government’s planned intermodal transport system," he added.
"Just as we envision Vertis North to be the first transit-oriented CBD in the north, FTI will serve the same purpose for the south."
Despite the whopping P24-billion bid, he claimed that FTI was acquired at a "significant discount," especially given land values in nearby Makati and Bonifacio Global City.
Privatization officials were visibly relieved at the success of yesterday’s auction. The last sale attempt in 2009 failed after the deadline for the submission of offers lapsed without any bids. Sale plans were likewise scrapped in 2010 due to unfavorable market conditions arising from the global financial crisis.
"The investment climate today is positive, with our resilience from the global economic downturn and the dip in borrowing costs for corporations," PMO Chief Privatization Officer Karen G. Singson told reporters.
The private sector is also optimistic given the government’s dedication to transparent bid procedures, she claimed. The auction took roughly six hours as the PMO checked all bid documents in front of the prospective investors.
"We are very happy not just with the ALI bid, but more importantly, with its payment stream," Ms. Singson said.
ALI pledged an upfront payment of P19.465 billion by the closing of the auction. The remainder will be paid a year after.
"This is the upside we wanted for the government: immediate development in that area. We hope to see increased employment, access and transportation once Ayala begins its work," Ms. Singson said.
The government should also expect a kick in its revenues this year because of the privatization, Ms. Singson said. At least half of the sale proceeds will go to the National Treasury, particularly the funds for the Agriculture and Agrarian Reform departments. The other half will go to FTI for the payment of its liabilities.
Tax collections should also benefit with the taxes due on ALI’s upfront payment, which will be pegged on zonal values.
Julius M. Guevara, associate director of property consultancy firm Colliers International Philippines, lauded the FTI sale and called it a win-win situation both for ALI and the government.
"The FTI acquisition is a significant win for Ayala Land since it further bolsters their land bank. The substantial spread above the minimum bid is also strategic, since it allows them to secure the property and also deprives their competitors of the opportunity to develop one of the last parcels of land of this size close to Manila’s CBDs," Mr. Guevara said in an e-mail.
"This is also a huge success for the government, which after lowering their minimum bid probably did not expect to receive a bid as high as they did today," he continued.
The government had considered a P13-billion price tag last year.
FTI is the first major government asset to be privatized under the Aquino administration. The PMO will now conduct one final review of ALI’s bid documents and requirements before it endorses the offer to the Privatization Council.
This post-qualification process should be concluded in five business days, Ms. Singson said. The notice of award should also be issued to the firm in the next 15 business days. Formal turnover will come no later than Dec. 31 this year.
For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com.
With prior attempts since the ’90s having failed, the Privatization and Management Office (PMO) claimed the sale, which it described as a success, had been helped by a rosy investment climate and optimism in the government.
The ALI bid was more than double the government’s P10.248-billion base price for 74 hectares of the 103-hectare industrial complex.
Gokongwei-led Robinsons Land Corp. had the second-highest offer of P14.667 billion, while Andrew L. Tan-controlled Empire East Land Holdings had the lowest bid of P11.248 billion.
Four other real estate giants -- Gotianun-led Filinvest Land, Inc., Sy-led SM Land, Inc., as well as Rockwell Land Corp. and Century Properties Group, Inc. -- that had prequalified for the auction did not submit tenders.
FTI is one of the largest industrial lots in Metro Manila and it lies in a prime location in Taguig City, near the South Luzon Expressway and the end of the C-5 highway. Given its proximity to major thoroughfares, ALI hopes to develop the sprawling property into another central business district (CBD). The firm already holds a portfolio of CBDs in the cities of Makati, Taguig, Quezon and Cebu.
"The property will be the southern gateway into Metro Manila, similar to our Vertis North, our northern gateway development," ALI Chief Finance Officer Jaime E. Ysmael yesterday said in a statement.
"With these two developments, we are now well positioned to capitalize on the development opportunities of these two growth centers, supplemented by the government’s planned intermodal transport system," he added.
"Just as we envision Vertis North to be the first transit-oriented CBD in the north, FTI will serve the same purpose for the south."
Despite the whopping P24-billion bid, he claimed that FTI was acquired at a "significant discount," especially given land values in nearby Makati and Bonifacio Global City.
Privatization officials were visibly relieved at the success of yesterday’s auction. The last sale attempt in 2009 failed after the deadline for the submission of offers lapsed without any bids. Sale plans were likewise scrapped in 2010 due to unfavorable market conditions arising from the global financial crisis.
"The investment climate today is positive, with our resilience from the global economic downturn and the dip in borrowing costs for corporations," PMO Chief Privatization Officer Karen G. Singson told reporters.
The private sector is also optimistic given the government’s dedication to transparent bid procedures, she claimed. The auction took roughly six hours as the PMO checked all bid documents in front of the prospective investors.
"We are very happy not just with the ALI bid, but more importantly, with its payment stream," Ms. Singson said.
ALI pledged an upfront payment of P19.465 billion by the closing of the auction. The remainder will be paid a year after.
"This is the upside we wanted for the government: immediate development in that area. We hope to see increased employment, access and transportation once Ayala begins its work," Ms. Singson said.
The government should also expect a kick in its revenues this year because of the privatization, Ms. Singson said. At least half of the sale proceeds will go to the National Treasury, particularly the funds for the Agriculture and Agrarian Reform departments. The other half will go to FTI for the payment of its liabilities.
Tax collections should also benefit with the taxes due on ALI’s upfront payment, which will be pegged on zonal values.
Julius M. Guevara, associate director of property consultancy firm Colliers International Philippines, lauded the FTI sale and called it a win-win situation both for ALI and the government.
"The FTI acquisition is a significant win for Ayala Land since it further bolsters their land bank. The substantial spread above the minimum bid is also strategic, since it allows them to secure the property and also deprives their competitors of the opportunity to develop one of the last parcels of land of this size close to Manila’s CBDs," Mr. Guevara said in an e-mail.
"This is also a huge success for the government, which after lowering their minimum bid probably did not expect to receive a bid as high as they did today," he continued.
The government had considered a P13-billion price tag last year.
FTI is the first major government asset to be privatized under the Aquino administration. The PMO will now conduct one final review of ALI’s bid documents and requirements before it endorses the offer to the Privatization Council.
This post-qualification process should be concluded in five business days, Ms. Singson said. The notice of award should also be issued to the firm in the next 15 business days. Formal turnover will come no later than Dec. 31 this year.
For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com.
Avida takes flight to better preserve heritage, habitat
Avida is soaring to great heights to save its own kind.
Literally, that is, as the Philippine Eagle Foundation named a 12-year-old eagle under its care “Avida” after forging an agreement with high-quality property developer Avida Land Corp.
Under this memorandum of agreement signed between the two parties, Avida Land has formalized its commitment to support the foundation’s efforts to help save the Philippine eagle and its habitat.
If all goes well, “Avida” is expected to mature and be able to bear eagles of her own to help continue the line of Philippine eagle species.
While the Ayala Land subsidiary is in the business of providing quality homes to the hardworking Filipinos, Avida Land is also very much aware of the need to help provide all inhabitants of this planet a sustainable home—and that means not only the people, but all other forms of life as well.
Corporate sponsor
As such, Avida Land deemed that it was only right for the company to enter into such an agreement and serve as one of the corporate sponsors of the Philippine Eagle Foundation in a concentrated bid to protect this critically endangered species.
The Philippine eagle, according to Avida Land, is considered to date as one of the largest and most powerful eagles in the world.
The company explained: “It is also one of the rarest of all eagle species, found only in the forests of Luzon, Samar, Leyte and Mindanao. Unfortunately, the destruction of forests threatens these raptors’ existence. The Philippine eagle is critically endangered and there are only about 500 pairs left in the wild.”
Under the said agreement, Avida Land has specifically committed to support the foundation for the next three years to help breed Philippine eagles at the PEF sanctuary. The said sponsorship will also include efforts to educate the public on the importance of the Philippine eagle to Davao’s ecosystem and to the country’s national heritage.
“Avida Land’s contribution will be spent on the care, maintenance and monitoring of nests of eagle chicks in the wild, including their daily feeding and veterinary care. Part of it will also go to other support programs of the PEF,” the company said.
“Avida’s partnership with the PEF is part of our overall commitment for sustainable development wherever there is an Avida property,” it added.
Sustainability practice by its parent company, Ayala Land, means building communities that meet the needs of customers; create benefits that last through generations; and, offer environment-friendly products and design that uplift the lives of people in and around them.
For Ayala Land, the ultimate end of sustainability is nation-building. As such, the company ensures that sustainability is integrated into everything it does: from the choice and acquisition of land, to how it master plans communities and townships; to the design and construction of its properties.
Similarly, Avida Land claims that all its developments are also master planned to ensure that these structures are sustainable, energy-efficient and environmentally sound.
Commitment
And as Avida Land expands its reach in the Visayas and Mindanao, it has committed to continue its pursuit of sustainability for all its property developments. Avida has already sold out its Avida Towers Cebu while Avida Towers Riala, also in Cebu, was recently launched.
Currently, Avida is developing the Centrio Tower in Cagayan de Oro; house and lot projects in Iloilo and Bacolod; and it will soon begin its first property project in Davao.
As of the first half of 2012, Avida Land has a total of 46 projects in 22 unique locations. Avida homes are all beautifully and practically designed, can be acquired through flexible payment terms, and built to provide reliable performance over time. Avida means affordable living at its best.
For more than 20 years, Avida has focused on enriching the lives of the hardworking Filipino middle-class by offering their families a home to be proud of. These are homes that thrive in a peaceful and safe community and are accessible to public transportation.
For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com.ph.
Literally, that is, as the Philippine Eagle Foundation named a 12-year-old eagle under its care “Avida” after forging an agreement with high-quality property developer Avida Land Corp.
Under this memorandum of agreement signed between the two parties, Avida Land has formalized its commitment to support the foundation’s efforts to help save the Philippine eagle and its habitat.
If all goes well, “Avida” is expected to mature and be able to bear eagles of her own to help continue the line of Philippine eagle species.
While the Ayala Land subsidiary is in the business of providing quality homes to the hardworking Filipinos, Avida Land is also very much aware of the need to help provide all inhabitants of this planet a sustainable home—and that means not only the people, but all other forms of life as well.
Corporate sponsor
As such, Avida Land deemed that it was only right for the company to enter into such an agreement and serve as one of the corporate sponsors of the Philippine Eagle Foundation in a concentrated bid to protect this critically endangered species.
The Philippine eagle, according to Avida Land, is considered to date as one of the largest and most powerful eagles in the world.
The company explained: “It is also one of the rarest of all eagle species, found only in the forests of Luzon, Samar, Leyte and Mindanao. Unfortunately, the destruction of forests threatens these raptors’ existence. The Philippine eagle is critically endangered and there are only about 500 pairs left in the wild.”
Under the said agreement, Avida Land has specifically committed to support the foundation for the next three years to help breed Philippine eagles at the PEF sanctuary. The said sponsorship will also include efforts to educate the public on the importance of the Philippine eagle to Davao’s ecosystem and to the country’s national heritage.
“Avida Land’s contribution will be spent on the care, maintenance and monitoring of nests of eagle chicks in the wild, including their daily feeding and veterinary care. Part of it will also go to other support programs of the PEF,” the company said.
“Avida’s partnership with the PEF is part of our overall commitment for sustainable development wherever there is an Avida property,” it added.
Sustainability practice by its parent company, Ayala Land, means building communities that meet the needs of customers; create benefits that last through generations; and, offer environment-friendly products and design that uplift the lives of people in and around them.
For Ayala Land, the ultimate end of sustainability is nation-building. As such, the company ensures that sustainability is integrated into everything it does: from the choice and acquisition of land, to how it master plans communities and townships; to the design and construction of its properties.
Similarly, Avida Land claims that all its developments are also master planned to ensure that these structures are sustainable, energy-efficient and environmentally sound.
Commitment
And as Avida Land expands its reach in the Visayas and Mindanao, it has committed to continue its pursuit of sustainability for all its property developments. Avida has already sold out its Avida Towers Cebu while Avida Towers Riala, also in Cebu, was recently launched.
Currently, Avida is developing the Centrio Tower in Cagayan de Oro; house and lot projects in Iloilo and Bacolod; and it will soon begin its first property project in Davao.
As of the first half of 2012, Avida Land has a total of 46 projects in 22 unique locations. Avida homes are all beautifully and practically designed, can be acquired through flexible payment terms, and built to provide reliable performance over time. Avida means affordable living at its best.
For more than 20 years, Avida has focused on enriching the lives of the hardworking Filipino middle-class by offering their families a home to be proud of. These are homes that thrive in a peaceful and safe community and are accessible to public transportation.
For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com.ph.
Philippines' Ayala to build new business district
AFP - The real estate arm of Philippine conglomerate Ayala Corp. said Tuesday
it planned to create another major business district in Manila after
casting the highest bid for a government property.
Ayala Land offered 24.33 billion pesos ($579 million), more than two other real estate firms, for the Food Terminal industrial estate, the company and government officials said.
The 74-hectare (183-acre) property is located near major government highways and will become "the southern gateway" to Manila, Ayala Land said.
The company will develop the area in a manner similar to the upscale housing, office, hotel and shopping mall projects it has set up in other parts of the capital and across the country, Ayala Land spokesman Jorge Marco said.
"It's going to be another business district and it will have all our product lines: residential, retail, office and hotels," he said.
Ayala Land's bid exceeded the floor price of 10.2 billion pesos for the property, said Melinda Cortez, marketing chief of the government's privatisation office.
She described it as the biggest government privatisation effort in years.
However the government's economic ministers must still study the bid for 60 days to see if it meets all financial and legal qualifications before declaring Ayala Land the winner, Cortez added.
The estate, formerly a major government food processing facility, is now an industrial estate where warehouses, offices and stores are already operating.
The Philippine government tried to sell off the facility in 2009 but failed to attract enough bidders.
Ayala Land offered 24.33 billion pesos ($579 million), more than two other real estate firms, for the Food Terminal industrial estate, the company and government officials said.
The 74-hectare (183-acre) property is located near major government highways and will become "the southern gateway" to Manila, Ayala Land said.
The company will develop the area in a manner similar to the upscale housing, office, hotel and shopping mall projects it has set up in other parts of the capital and across the country, Ayala Land spokesman Jorge Marco said.
"It's going to be another business district and it will have all our product lines: residential, retail, office and hotels," he said.
Ayala Land's bid exceeded the floor price of 10.2 billion pesos for the property, said Melinda Cortez, marketing chief of the government's privatisation office.
She described it as the biggest government privatisation effort in years.
However the government's economic ministers must still study the bid for 60 days to see if it meets all financial and legal qualifications before declaring Ayala Land the winner, Cortez added.
The estate, formerly a major government food processing facility, is now an industrial estate where warehouses, offices and stores are already operating.
The Philippine government tried to sell off the facility in 2009 but failed to attract enough bidders.
For more details on Ayala Land's projects, you may e-mail reby_ramirez@yahoo.com or contact her at 0922.883.9308
/ 0916.4044.555 / 0919.699.3572 / 4044-534.
For latest update on real estate
development and its RA 9646, the Real Estate Service Act of 2009, visit
www.ra9646.com.
Wednesday, August 8, 2012
ALI raises 2012 budget by P10 billion
The Philippine Star - Property giant Ayala Land Inc.
(ALI) is setting aside an additional P10 billion on top of the original
2012 budget of P37 billion, according to a top company official.
ALI president Antonino Aquino said the additional P10 billion, which
will be funded by proceeds from its recent P13.6-billion top-up equity
placement and P15-billion bond issue, will largely go to the company’s
aggressive landbanking activities.
The company has set aside P36 billion over next two to three years to beef up its landbank to ensure continued growth. The company wants to double its landbank in the next five years from the current 4,000 hectares.
The additional amount also includes ALI’s projected investment this year for its strategic alliance with the Ortigas Group led by Ignacio R. Ortigas.
This ramps up ALI’s total capital spending to a record P47 billion this year as it aims to sustain its high growth trajectory in the long term.
ALI, through its five residential brands, aims to have significant presence in each key city in Metro Manila and replicate the success of its huge master-planned projects in all parts of the country.
ALI serves the high end market through Ayala Land Premier while it also serves the middle-income, affordable and economic housing segments through Alveo Land and Avida Land, respectively. Last year, it branched out into the socialized housing segment via BellaVita.
For this year, ALI is launching 67 new projects with an unprecedented potential sales value of around P90 billion.
Bulk of the new developments will comprise 50 residential projects, equivalent to about 25,000 units across its five brands, to cater to the different segments of the local economic pyramid or 25 percent more than the 20,000 units rolled out in 2010.
ALI plans to penetrate new areas like Cavite, Bulacan, Rizal, Pampanga and major cities in Visayas and Mindanao.
In its commercial leasing business, the group intends to duplicate this strategy of geographic expansion, product diversification and market broadening as it aims to double its gross leasable area by 2014.
It will open three malls this year, including the first phase of the Ayala Center redevelopment, Harbourpoint in Subic and the Centrio mall in Davao.
ALI launched a total of 141,000 sqm of shopping center gross leasable area (GLA) last year, including the expansion of Ayala Center Cebu, renovation of San Antonio PlazaArcade in Makati, the retail component of Ayala Northpoint Technohub in Negros Occidental , Fairview Terraces in Quezon City and The District along Daang Hari in Cavite – which are expected to come on stream in the next couple of years.
It also has in the pipeline some 365,000 sqm of commercial leasing GLA for both office and shopping centers and two more Kukun hotels.
The company has set aside P36 billion over next two to three years to beef up its landbank to ensure continued growth. The company wants to double its landbank in the next five years from the current 4,000 hectares.
The additional amount also includes ALI’s projected investment this year for its strategic alliance with the Ortigas Group led by Ignacio R. Ortigas.
This ramps up ALI’s total capital spending to a record P47 billion this year as it aims to sustain its high growth trajectory in the long term.
ALI, through its five residential brands, aims to have significant presence in each key city in Metro Manila and replicate the success of its huge master-planned projects in all parts of the country.
ALI serves the high end market through Ayala Land Premier while it also serves the middle-income, affordable and economic housing segments through Alveo Land and Avida Land, respectively. Last year, it branched out into the socialized housing segment via BellaVita.
For this year, ALI is launching 67 new projects with an unprecedented potential sales value of around P90 billion.
Bulk of the new developments will comprise 50 residential projects, equivalent to about 25,000 units across its five brands, to cater to the different segments of the local economic pyramid or 25 percent more than the 20,000 units rolled out in 2010.
ALI plans to penetrate new areas like Cavite, Bulacan, Rizal, Pampanga and major cities in Visayas and Mindanao.
In its commercial leasing business, the group intends to duplicate this strategy of geographic expansion, product diversification and market broadening as it aims to double its gross leasable area by 2014.
It will open three malls this year, including the first phase of the Ayala Center redevelopment, Harbourpoint in Subic and the Centrio mall in Davao.
ALI launched a total of 141,000 sqm of shopping center gross leasable area (GLA) last year, including the expansion of Ayala Center Cebu, renovation of San Antonio PlazaArcade in Makati, the retail component of Ayala Northpoint Technohub in Negros Occidental , Fairview Terraces in Quezon City and The District along Daang Hari in Cavite – which are expected to come on stream in the next couple of years.
It also has in the pipeline some 365,000 sqm of commercial leasing GLA for both office and shopping centers and two more Kukun hotels.
For latest update on real estate
development and its RA 9646, the Real Estate Service Act of 2009, visit
www.ra9646.com.
Monday, August 6, 2012
Ayala Land to hike capex by P10 billion
Businessworld - LISTED DEVELOPER Ayala Land, Inc. plans to add
P10 billion to its capital expenditure for 2012, which was earlier
pegged at P37 billion as it looks to buy more lots and bankroll a
“strategic” partnership with the Ortigas family.
“The company expects to spend an additional P10 billion on unbudgeted property acquisitions until yearend, which will ensure the pipeline of value-accretive projects beyond the current five-year plan,” Ayala Land said in its latest financial statement.
For 2012, the developer had allotted a record P37 billion capex to fund around 67 new projects with an estimated sales value of P90 billion, as well as for the acquisition of new properties moving forward, earlier reports stated.
Ayala Land then went on to raise P13.6 billion in paid-up capital via the placement of 680 million common shares priced at P20 apiece, and the issuance of an equal number of similarly-priced new shares.
“The P13.6-billion overnight equity top-up placement we just did is intended to finance this additional unbudgeted capex, which is primarily earmarked for additional land banking,” Jaime E. Ysmael, Ayala Land chief finance officer, told BusinessWorld in a text message Saturday.
Further, the additional budget allocation may also be used to bankroll Ayala Land’s proposed tie-up with the Ortigas family’s holding company, which in turn holds vast tracts of land in Metro Manila.
“Part of this capex has been allocated for the Ortigas alliance,” Mr. Ysmael added.
Shares of Ayala Land rose by 1.34% to close at P22.70 each yesterday.
“The company expects to spend an additional P10 billion on unbudgeted property acquisitions until yearend, which will ensure the pipeline of value-accretive projects beyond the current five-year plan,” Ayala Land said in its latest financial statement.
For 2012, the developer had allotted a record P37 billion capex to fund around 67 new projects with an estimated sales value of P90 billion, as well as for the acquisition of new properties moving forward, earlier reports stated.
Ayala Land then went on to raise P13.6 billion in paid-up capital via the placement of 680 million common shares priced at P20 apiece, and the issuance of an equal number of similarly-priced new shares.
“The P13.6-billion overnight equity top-up placement we just did is intended to finance this additional unbudgeted capex, which is primarily earmarked for additional land banking,” Jaime E. Ysmael, Ayala Land chief finance officer, told BusinessWorld in a text message Saturday.
Further, the additional budget allocation may also be used to bankroll Ayala Land’s proposed tie-up with the Ortigas family’s holding company, which in turn holds vast tracts of land in Metro Manila.
“Part of this capex has been allocated for the Ortigas alliance,” Mr. Ysmael added.
Shares of Ayala Land rose by 1.34% to close at P22.70 each yesterday.
For latest update on real estate
development and its RA 9646, the Real Estate Service Act of 2009, visit
www.ra9646.com.
Friday, August 3, 2012
Modern housing: Condominiums
Philippine Daily Inquirer - What is the best type of residential real estate in the Philippines, particularly in today’s modern trends? According to many Filipinos, some of the most popular types of modern housing in today’s modern and fast-pace lifestyles are condominiums.
Part of what made condominiums a very popular types of housing in the Philippines is because of its benefits which clearly conforms in the many necessities in which Filipinos are looking for. One apparent reason for that is its location.
Modern housing: Condominiums
Accessibility
One of the many benefits in which Filipinos loved with condominiums is with its accessibility to key locations of the city. This is because condominiums are mostly found in business and commercial districts, such as in business and commercial districts.
Because of its location, residents are given the luxury of living within mass transit distance or even walking distance to their workplaces, a kind of necessity in which many Filipinos are looking for in today’s modern and fast-paced lifestyles.
Although found in the busiest districts of the Philippines, these type of Philippine real estate can still offer the privacy, peace, and relaxing environment in which many Filipinos are looking for. According to many of its residents, the view of the city from their windows is also breath-taking.
However, other than its location, condominiums are also known for other important necessities. One is its maintainability and the other is its security.
Maintainability
Condominiums normally hire their own maintenance personnel who are tasked to maintain all facilities found in the condominium from hallways to elevators and cooling systems. This makes their living spaces more luxurious compared to other types of Philippine real estate in terms of maintainability.
Security
Because most residents are of high-stature, such as company executives, all types of condominiums found in those areas are known for its security personnel who assure the safety of all their residents.
Family-oriented
However, other than these types of condominiums, a number of new condominiums were also introduced in the Philippines which offer a home for the modern Filipino family. These new types of condominiums are known as condominium complexes.
Part of what made condominium complexes a family-oriented type of Philippine real estate is because of its location, which are mostly found outside the city, mostly in the outskirts or even in provinces such as in Tagaytay. Because of the environment it offers, condominium complexes quickly became a popular type of modern housing for the modern Filipino family.
Amenities
In addition to its family-oriented environment, condominium complexes are also known for its amenities including swimming pools, gyms, recreational parks, and playgrounds in which residents can freely and exclusively enjoy.
Disadvantages
There are, however, a number of disadvantages in living in a condominium. For condominiums in the city, these types of housing are normally unsuitable for a growing Filipino family particularly for growing children, while living in a condominium complex may not be suitable for Filipinos working around the clock. This is because living in the outskirts or in provinces makes it harder to get back to work, particularly because of rush hour.
Other than its separate disadvantages, all types of condominiums are also known for its condo fees, which can be a disadvantage for many Filipinos. Other than its apparent expensiveness, residents are also obligated to pay a sum of fees to the condominium which is used for the maintenance of all facilities found in the condominium as well as wages for its maintenance and security personnel.
For details on Ayala condos, please contact Reby Ramirez @ +63 916.4044.555 / +63 922.883.9308 / +63 919.699.3572 or e-mail her at reby_ramirez@yahoo.com.
Source: Malaya, 05 September 2010
For details on the Real Estate Service Act visit www.ra9646.com
Part of what made condominiums a very popular types of housing in the Philippines is because of its benefits which clearly conforms in the many necessities in which Filipinos are looking for. One apparent reason for that is its location.
Modern housing: Condominiums
Accessibility
One of the many benefits in which Filipinos loved with condominiums is with its accessibility to key locations of the city. This is because condominiums are mostly found in business and commercial districts, such as in business and commercial districts.
Because of its location, residents are given the luxury of living within mass transit distance or even walking distance to their workplaces, a kind of necessity in which many Filipinos are looking for in today’s modern and fast-paced lifestyles.
Although found in the busiest districts of the Philippines, these type of Philippine real estate can still offer the privacy, peace, and relaxing environment in which many Filipinos are looking for. According to many of its residents, the view of the city from their windows is also breath-taking.
However, other than its location, condominiums are also known for other important necessities. One is its maintainability and the other is its security.
Maintainability
Condominiums normally hire their own maintenance personnel who are tasked to maintain all facilities found in the condominium from hallways to elevators and cooling systems. This makes their living spaces more luxurious compared to other types of Philippine real estate in terms of maintainability.
Security
Because most residents are of high-stature, such as company executives, all types of condominiums found in those areas are known for its security personnel who assure the safety of all their residents.
Family-oriented
However, other than these types of condominiums, a number of new condominiums were also introduced in the Philippines which offer a home for the modern Filipino family. These new types of condominiums are known as condominium complexes.
Part of what made condominium complexes a family-oriented type of Philippine real estate is because of its location, which are mostly found outside the city, mostly in the outskirts or even in provinces such as in Tagaytay. Because of the environment it offers, condominium complexes quickly became a popular type of modern housing for the modern Filipino family.
Amenities
In addition to its family-oriented environment, condominium complexes are also known for its amenities including swimming pools, gyms, recreational parks, and playgrounds in which residents can freely and exclusively enjoy.
Disadvantages
There are, however, a number of disadvantages in living in a condominium. For condominiums in the city, these types of housing are normally unsuitable for a growing Filipino family particularly for growing children, while living in a condominium complex may not be suitable for Filipinos working around the clock. This is because living in the outskirts or in provinces makes it harder to get back to work, particularly because of rush hour.
Other than its separate disadvantages, all types of condominiums are also known for its condo fees, which can be a disadvantage for many Filipinos. Other than its apparent expensiveness, residents are also obligated to pay a sum of fees to the condominium which is used for the maintenance of all facilities found in the condominium as well as wages for its maintenance and security personnel.
For details on Ayala condos, please contact Reby Ramirez @ +63 916.4044.555 / +63 922.883.9308 / +63 919.699.3572 or e-mail her at reby_ramirez@yahoo.com.
Source: Malaya, 05 September 2010
For details on the Real Estate Service Act visit www.ra9646.com
Madera Grove Estates: High-quality home developer conquers ‘First Republic’
THE CENTRALIZED amenity area can be used for social gatherings and recreational activities.
Few towns in the Philippines can perhaps compare to the rich, significant historical milestones that the City of Malolos in Bulacan has been known for.
Malolos in 1898 played host to the constitutional convention that allowed Filipinos to establish the First Philippine Republic, reportedly also the first to be put up in Asia. And for a year, Malolos rightfully served as the capital of what history books would dub as the “short-lived republic.”
Fast forward to today, the now bustling City of Malolos has again paved the way for another first—this time, for property giant Ayala Land Inc.
First residential project
Through Avida Land Corp., Ayala Land has recently launched its first residential project in Bulacan in a bid to bring its brand of high-quality living in this part of the country.
Strategically located in Barangay Dakila in Malolos City, Avida’s 12-hectare development known as Madera Grove Estates will provide future residents the luxury of enjoying large cut lots and elegantly designed homes that are the first of their kind in Bulacan.
“It was no easy feat for us to finally get and acquire the perfect site for the first Avida Land development in Bulacan,” Avida Land president Christopher B. Maglanoc shared in a recent interview.
According to Maglanoc, it took them five years to find the perfect site, stressing that the company wanted to ensure that their first project in Bulacan will be ideally located, abide by the five pillars that Avida Land is looking for and will coincide with their vision to provide every hardworking Filipino affordable, quality home that he/she deserves. These five pillars, or the so-called “five must-haves,” would be accessible location, design, quality, buying experience and living experience.
Right conditions
MADERA Grove will offer large cut lots and elegantly designed homes.
A master-planned, modern community, Madera Grove Estates offers future residents the chance to taste the kind of lifestyle that thrives on exclusivity coupled with sensible amenities and high living standards.
For one, Madera Grove Estates is directly accessible from the MacArthur Highway and is near schools, churches, the Malolos City Hall, and commercial and business establishments. Its ideal location makes it far enough from the pollution and stressful routines of highly urbanized areas, yet still close enough for easy access to Metro Manila.
Future residents of Madera Grove Estates will also find a place for privacy amid green open spaces and trees that will be protected by 24-hour roving security and perimeter fence—allowing Bulakenyos to have a taste of the exclusive lifestyle without having to leave one’s hometown.
Residents are further assured of a worry-free stay as Madera Grove Estates is said to be flood-free and has ample supply of clean water at any given time of the day.
Meanwhile, its centralized amenity area which can be used for social gatherings and recreational activities is seen to foster a sense of community.
Avida Land also stays true to the reputation of all Ayala Land properties in its development of the Madera Grove Estates, which will offer well-constructed and durable homes that will have an attractive, contemporary design.
Available units
There are 366 units available for purchase, including lots only and house and lot units. Future residents may choose from four house types—the Alder, Birch, Cedar and Dane. Beauty and reliability are integrated in these masterful house designs, with floor area ranging from 69 to 117 square meters. Lot size ranges from 122 to 371 square meters.
Each unit is also entitled to a one-year workmanship warranty.
Madera Grove Estates will be managed by the renowned Ayala Property Management Corp. to ensure residents’ standard of living.
Best value for money
Avida claims that the Madera Grove Estates can provide the best value for money and is perfect for long-time Bulacan residents wishing to upgrade their lifestyle.
Professionals working in Northern Metro Manila will also find it ideal to take up residence at Madera Grove Estates, which is envisioned to become a spacious and peaceful community.
As with all Avida properties, Madera Grove Estates is indeed a good choice for those seeking to make a wise, sound investment.
For more details on Madera Grove Estates, you may e-mail reby_ramirez@yahoo.com or contact her at 0922.883.9308
/ 0916.4044.555 / 0919.699.3572 / 4044-534.
For latest update on real estate
development and its RA 9646, the Real Estate Service Act of 2009, visit
www.ra9646.com.
ALI combines greens in cityscapes
Malaya - Ayala Land Inc. (ALI) is one of those city developers worldwide that are starting to find innovative ways to subtly include greens in cityscapes.
ALI is fervent in making a huge difference when it comes to urban master-planning that seamlessly integrates lush breathing spaces in cityscapes.
However, Antonino Aquino, president of Ayala Land and chairman of Cebu Holdings, Inc., said integrating parks in an urban masterplan can somehow become a challenge in the Philippine setting since the country’s landscape isn’t as expansive as the environs of the cities abroad.
“However, with ALI’s proven track record and unrivaled leadership in bringing large scale, mixed-use districts, some of the urban hubs in the Philippines may eventually become at par with the known city centers across the globe,” Aquino said. “The company has remarkably gone beyond the usual city facets like concrete and towering structures, and one of the solid testaments to this effort is our latest project with Cebu Holdings Inc.-the Cebu Park District.”
ALI takes into account the importance of priming Cebu Park District (CPD). This includes its regional potential, as well as how it would function, sustain, and balance live-work-play aspects for the coming years.
To date, CPD is the unifying address that mirrors the synergy of Cebu’s most prominent business squares-Cebu Business Park and Cebu I.T. Park.
Beyond being known as a home to the growing number of BPO conglomerates in Cebu and the iconic leisure and lifestyle destination Ayala Center Cebu, these areas also reflect ALI and CHI’s aggressive endeavors in the region. These places are also known for housing some of the company’s major residential projects. Recently, Ayala Land Premier launched the Park Point Residences-the first residential tower that will rise within Ayala Center. Meanwhile, Alveo Land is also bringing its residential innovations to the district by introducing Solinea and Sedona Park. Avida, also one of ALI’s notable residential arms, just introduced its multi-tower development within CPD.
Given that CPD is emerging as a major business, leisure, and residential district in Cebu, Aquino notes that its overall masterplan is balanced by the verdant parks that dot its 50-hectare showcase.
“People intuitively know the importance of nature and green spaces as these help one achieve peace of mind,” Aquino said. “Hence, Cebu Park District is littered with parks, where people can experience a relaxing space of lush greens right outside their offices or residences. So, while other urban dwellers must put up with the mental fatigue caused by work, traffic congestion or pollution, people who live, work, and thrive within this district enjoy places where they can refresh their minds and bodies every once in a while.”
For more details on Ayala Land
projects, you may e-mail reby_ramirez@yahoo.com or contact her at 0922.883.9308
/ 0916.4044.555 / 0919.699.3572 / 4044-534.
For latest update on real estate
development and its RA 9646, the Real Estate Service Act of 2009, visit
www.ra9646.com.
Ayala Land 2Q Net Profit up 25% at PHP2.19 Billion
Fox Business - Ayala Land Inc.'s (ALI.PH) second-quarter net profit rose 25% from the
year-earlier period as earnings at the Philippines' largest property
developer by sales and market capitalization continued to be boosted by
the buoyant real-estate market, it said Friday.
Ayala Land's net profit in the April-June quarter increased to 2.19 billion pesos ($52.4 million) from PHP1.76 billion. Second-quarter revenue rose 18% to PHP12.63 billion mainly on double-digit growth in real-estate sales.
First-half net profit rose 28% to PHP4.33 billion from PHP3.38 billion compared with the same period of 2011 and revenue increased to PHP25.02 billion from PHP21.25 billion.
The company said revenue from residential projects was up 24% in the first six months to PHP13.95 billion while sales of commercial and industrial lots gained 29% to PHP1.35 billion.
Ayala Land's net profit in the April-June quarter increased to 2.19 billion pesos ($52.4 million) from PHP1.76 billion. Second-quarter revenue rose 18% to PHP12.63 billion mainly on double-digit growth in real-estate sales.
First-half net profit rose 28% to PHP4.33 billion from PHP3.38 billion compared with the same period of 2011 and revenue increased to PHP25.02 billion from PHP21.25 billion.
The company said revenue from residential projects was up 24% in the first six months to PHP13.95 billion while sales of commercial and industrial lots gained 29% to PHP1.35 billion.
For more details on Ayala projects, you may e-mail reby_ramirez@yahoo.com or contact her at 0922.883.9308
/ 0916.4044.555 / 0919.699.3572 / 4044-534.
For latest update on real estate
development and its RA 9646, the Real Estate Service Act of 2009, visit
www.ra9646.com
Sunday, July 22, 2012
ALI Raises P13.6B For Expansion
Manila Bulletin – Real estate giant Ayala Land, Inc. (ALI) has
raised P13.6 billion, through the placement new ALI common shares, to
fund its expansion program including land banking and the planned
acquisition of a stake in the Ortigas family’s OCLP Holdings Inc.
The placement was conducted via an overnight bookbuilt offering structured as a top-up placement. This landmark transaction represents the largest overnight placement by a real estate company in Southeast Asia since 2005, as well as the largest ever overnight placement in the Philippines.
To implement the placement, parent company Ayala Corporation sold 680 million of its existing ALI common shares to qualified buyers and institutional investors at P20 per share, and ALI concurrently issued 680 million new primary shares to AC at the same price.
Following this transaction, Ayala’s stake in the voting stock of ALI will be marginally reduced from 73.07 percent to 71.22 percent and its ownership in ALI’s common stock will be reduced from 53.06 percent to 50.43 percent.
The transaction was initially launched as a top-up placement of 530 million shares at an indicative price range of P19.80 to P20.20 per share.
Due to strong demand and the fact that the offer was several times oversubscribed, the company decided to increase the offer size to 680 million shares.
“We are delighted with the investor community’s continued strong support of Ayala Land. This capital raise builds on the Company’s recent performance and positions us well to capture the attractive real estate growth opportunities we see throughout our country,” said ALI chairman Fernando Zobel de Ayala.
ALI will use the proceeds of the share placement primarily to fund its next phase of expansion, enabling it to sustain its high-growth trajectory.
In addition to its P37-billion capital expenditure program for 2012, ALI has identified significant land banking opportunities amounting to about P36 billion over the next two to three years.
About P20 billion of this may be deployed in Makati City and other parts of Metro Manila and the balance in growth centers in Nuvali and other parts of Luzon and in the Visayas and Mindanao.
A portion of the proceeds is also expected to partially fund ALI’s potential strategic alliance with a group led by Ignacio R. Ortigas and resulting participation in OCLP Holdings, Inc., the parent company of Ortigas and Company Limited Partnership.
ALI has budgeted an initial investment of P15 billion for this alliance which is expected to provide ALI with access to about 55 hectares of prime properties in Metro Manila.
“We are on track toward achieving our ‘5-10-15’ plan by 2014. This equity raise provides Ayala Land with expanded permanent capital to support our long term growth plans,” said ALI president Antonino T. Aquino.
Goldman Sachs (Singapore) Pte., J.P. Morgan and UBS Investment Bank acted as Joint Bookrunners and Placement Agents in connection with the Placement. BPI Capital Corporation acted as Sole Domestic Coordinator and Bookrunner, and CLSA Limited Acted as Co-Manager.
The placement was conducted via an overnight bookbuilt offering structured as a top-up placement. This landmark transaction represents the largest overnight placement by a real estate company in Southeast Asia since 2005, as well as the largest ever overnight placement in the Philippines.
To implement the placement, parent company Ayala Corporation sold 680 million of its existing ALI common shares to qualified buyers and institutional investors at P20 per share, and ALI concurrently issued 680 million new primary shares to AC at the same price.
Following this transaction, Ayala’s stake in the voting stock of ALI will be marginally reduced from 73.07 percent to 71.22 percent and its ownership in ALI’s common stock will be reduced from 53.06 percent to 50.43 percent.
The transaction was initially launched as a top-up placement of 530 million shares at an indicative price range of P19.80 to P20.20 per share.
Due to strong demand and the fact that the offer was several times oversubscribed, the company decided to increase the offer size to 680 million shares.
“We are delighted with the investor community’s continued strong support of Ayala Land. This capital raise builds on the Company’s recent performance and positions us well to capture the attractive real estate growth opportunities we see throughout our country,” said ALI chairman Fernando Zobel de Ayala.
ALI will use the proceeds of the share placement primarily to fund its next phase of expansion, enabling it to sustain its high-growth trajectory.
In addition to its P37-billion capital expenditure program for 2012, ALI has identified significant land banking opportunities amounting to about P36 billion over the next two to three years.
About P20 billion of this may be deployed in Makati City and other parts of Metro Manila and the balance in growth centers in Nuvali and other parts of Luzon and in the Visayas and Mindanao.
A portion of the proceeds is also expected to partially fund ALI’s potential strategic alliance with a group led by Ignacio R. Ortigas and resulting participation in OCLP Holdings, Inc., the parent company of Ortigas and Company Limited Partnership.
ALI has budgeted an initial investment of P15 billion for this alliance which is expected to provide ALI with access to about 55 hectares of prime properties in Metro Manila.
“We are on track toward achieving our ‘5-10-15’ plan by 2014. This equity raise provides Ayala Land with expanded permanent capital to support our long term growth plans,” said ALI president Antonino T. Aquino.
Goldman Sachs (Singapore) Pte., J.P. Morgan and UBS Investment Bank acted as Joint Bookrunners and Placement Agents in connection with the Placement. BPI Capital Corporation acted as Sole Domestic Coordinator and Bookrunner, and CLSA Limited Acted as Co-Manager.
Property boom transforming Philippine skylines
AFP - As a
Philippine property boom gathers pace, even Paris Hilton, Donald Trump
and high-fashion house Versace are getting a piece of the action.
The good times are into their fourth year, fuelled by steady economic growth, Western firms offshoring jobs to the Philippines, the buying power of millions of Filipinos working abroad and low interest rates.
"It just so happens that today the stars are aligned... we have never seen the economy this bullish," said Antonino Aquino, president of Ayala Land, one of the country's biggest property developers.
Ayala Land is one of the main players in what industry figures describe as an unprecedented construction boom that is transforming the skyline of the nation's capital, as well as many provincial cities.
In Manila, formerly sleepy pockets such as the Fort army base and the rundown Eastwood industrial zone have become chic, new business districts, catering mainly for the fast-growing outsourcing sector.
At the Fort, Ayala Land this year broke ground on its US$714-million One Bonifacio High Street project, which when completed in 2017 will host the Philippine Stock Exchange, a Shangri-La hotel, and retail outlets.
The project also has a 63-storey residential tower, with 298 suites ranging from US$500,000 to US$1.9 million that sold out last month in 96 hours, according to the company.
Across the country, more than 850,000 square metres (9.1 million square feet) of office space and 14,000 residential units will enter the market this year, property consultants CBRE Philippines said in a report.
It said many of the residential units catered for a growing middle-class on the fringes of Manila and other urban centres.
The building boom has also spread to hotels, shopping malls and casinos, triggering hopes of a long-anticipated take-off of the underdeveloped tourism industry.
Three of the world's biggest gaming industry leaders are building a US$4-billion, 100-hectare (247-acre) Entertainment City complex of casinos on Manila Bay. The first of the casinos are set to open early next year.
Meanwhile, Trump, the New York mogul, has put his name to a US$150-million, 56-storey, curtain-glass-walled Trump Tower that broke ground in the financial district this year.
"High-end buyers look for key differentiated features," said Robbie Antonio, managing director of Century Properties that is behind the Trump Tower development.
He said 70 percent of the 220 residential units, which are worth up to US$1.86 million each, have been sold.
The firm is putting up a nearby tower designed by the Versace fashion house -- the first of its kind in Asia -- featuring individual wading pools as well as its iconic Medusa-head brand imprinted on lamp shades and cutlery.
Century also flew in socialite and hotel heiress Hilton to Manila last year to help design and promote a suburban Manila residential project that features a man-made beach.
Industry players say the property boom reflects the overall status of the nation's economy as it picks up steam after decades of underperforming compared with many of its Asian neighbours.
The economy grew 6.4 percent in the first quarter, the stock market has surged 20 percent this year to hit all-time highs, and the country's credit rating has been bumped up to just a step below investment grade.
The central bank's benchmark interest rates are also at historic lows -- 4.0 percent for the benchmark borrowing rate -- ensuring large piles of cheap cash for property development.
Aside from the macro economic picture, real estate analysts point to the outsourcing phenomenon as one of the key drivers of the property boom.
From virtually nothing a decade ago, outsourcing now employs more than 600,000 people and is worth US$11 billion annually, according to the main industry association which is forecasting 15 percent growth in the years ahead.
Many of the skyscrapers are being built to cater for the outsourcing workforce, which performs a myriad of tasks from call centre duties to designing architectural plans for foreign firms.
Meanwhile, roughly nine million Filipinos who work overseas are sending large chunks of the US$22 billion they earn -- equal to 10 percent of the nation's gross domestic product -- back home, often investing in real estate.
The frenetic building pace has some quarters anxious over a potential property bubble, with the global economic woes adding to concerns.
But Rick Santos, CBRE Philippines chief executive, remains bullish, in large part because of the expected continued growth in the outsourcing sector.
"As economies in the West tighten, global companies will see it in their interest to outsource their non-core functions to save on costs, " Santos told an industry briefing recently.
Ayala Land's Aquino also said local market had not seen the price bubbles that preceded crashes in other countries, where property values suddenly doubled or tripled.
"The price increases have been very close to or a little more than the inflation rate," Aquino said.
Trump Tower developer Antonio added: "We are confident that there's still a demand that has to be met."
The good times are into their fourth year, fuelled by steady economic growth, Western firms offshoring jobs to the Philippines, the buying power of millions of Filipinos working abroad and low interest rates.
"It just so happens that today the stars are aligned... we have never seen the economy this bullish," said Antonino Aquino, president of Ayala Land, one of the country's biggest property developers.
Ayala Land is one of the main players in what industry figures describe as an unprecedented construction boom that is transforming the skyline of the nation's capital, as well as many provincial cities.
In Manila, formerly sleepy pockets such as the Fort army base and the rundown Eastwood industrial zone have become chic, new business districts, catering mainly for the fast-growing outsourcing sector.
At the Fort, Ayala Land this year broke ground on its US$714-million One Bonifacio High Street project, which when completed in 2017 will host the Philippine Stock Exchange, a Shangri-La hotel, and retail outlets.
The project also has a 63-storey residential tower, with 298 suites ranging from US$500,000 to US$1.9 million that sold out last month in 96 hours, according to the company.
Across the country, more than 850,000 square metres (9.1 million square feet) of office space and 14,000 residential units will enter the market this year, property consultants CBRE Philippines said in a report.
It said many of the residential units catered for a growing middle-class on the fringes of Manila and other urban centres.
The building boom has also spread to hotels, shopping malls and casinos, triggering hopes of a long-anticipated take-off of the underdeveloped tourism industry.
Three of the world's biggest gaming industry leaders are building a US$4-billion, 100-hectare (247-acre) Entertainment City complex of casinos on Manila Bay. The first of the casinos are set to open early next year.
Meanwhile, Trump, the New York mogul, has put his name to a US$150-million, 56-storey, curtain-glass-walled Trump Tower that broke ground in the financial district this year.
"High-end buyers look for key differentiated features," said Robbie Antonio, managing director of Century Properties that is behind the Trump Tower development.
He said 70 percent of the 220 residential units, which are worth up to US$1.86 million each, have been sold.
The firm is putting up a nearby tower designed by the Versace fashion house -- the first of its kind in Asia -- featuring individual wading pools as well as its iconic Medusa-head brand imprinted on lamp shades and cutlery.
Century also flew in socialite and hotel heiress Hilton to Manila last year to help design and promote a suburban Manila residential project that features a man-made beach.
Industry players say the property boom reflects the overall status of the nation's economy as it picks up steam after decades of underperforming compared with many of its Asian neighbours.
The economy grew 6.4 percent in the first quarter, the stock market has surged 20 percent this year to hit all-time highs, and the country's credit rating has been bumped up to just a step below investment grade.
The central bank's benchmark interest rates are also at historic lows -- 4.0 percent for the benchmark borrowing rate -- ensuring large piles of cheap cash for property development.
Aside from the macro economic picture, real estate analysts point to the outsourcing phenomenon as one of the key drivers of the property boom.
From virtually nothing a decade ago, outsourcing now employs more than 600,000 people and is worth US$11 billion annually, according to the main industry association which is forecasting 15 percent growth in the years ahead.
Many of the skyscrapers are being built to cater for the outsourcing workforce, which performs a myriad of tasks from call centre duties to designing architectural plans for foreign firms.
Meanwhile, roughly nine million Filipinos who work overseas are sending large chunks of the US$22 billion they earn -- equal to 10 percent of the nation's gross domestic product -- back home, often investing in real estate.
The frenetic building pace has some quarters anxious over a potential property bubble, with the global economic woes adding to concerns.
But Rick Santos, CBRE Philippines chief executive, remains bullish, in large part because of the expected continued growth in the outsourcing sector.
"As economies in the West tighten, global companies will see it in their interest to outsource their non-core functions to save on costs, " Santos told an industry briefing recently.
Ayala Land's Aquino also said local market had not seen the price bubbles that preceded crashes in other countries, where property values suddenly doubled or tripled.
"The price increases have been very close to or a little more than the inflation rate," Aquino said.
Trump Tower developer Antonio added: "We are confident that there's still a demand that has to be met."
For latest update on real estate
development and its RA 9646, the Real Estate Service Act of 2009, visit
www.ra9646.com.
Monday, July 9, 2012
Philippines' Ayala in $1.5 bln property project in QC
AFP - Philippine property giant Ayala Land Inc. said Thursday it will spend 64
billion pesos ($1.5 billion) over the next 15 years to develop a former
squatter colony in a suburb of the capital.
The 29-hectare (72-acre) lot in the largely-residential Quezon City area will be a joint venture with the government's National Housing Authority which owns the property, company spokesman Jorge Marco said.
Ayala, known for its upscale housing, office and shopping mall projects, will develop the area while the housing authority will retain the real estate, he added.
"It will house both residential, office, retail and hotel units," he told AFP.
The first phase, spanning about four years, will involve setting up three buildings for business process outsourcing operations, along with a business hotel and a mall in a seven-hectare section, he said.
This first stage will cost about 12 billion pesos.
Much of the area was once a gigantic squatter area where some 6,000 families lived in squalor.
Hundreds of these squatters rioted in 2010 to oppose their relocation, forcing President Benigno Aquino to postpone the demolition of their shanties.
The area covered by the first phase of the project has already been cleared of squatters who have been relocated by the government, Marco said.
Ayala Land, the flagship of the diversified Ayala Corp. conglomerate, posted a 31 percent growth in its net profit last year, hitting 7.14 billion pesos.
For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com.
The 29-hectare (72-acre) lot in the largely-residential Quezon City area will be a joint venture with the government's National Housing Authority which owns the property, company spokesman Jorge Marco said.
Ayala, known for its upscale housing, office and shopping mall projects, will develop the area while the housing authority will retain the real estate, he added.
"It will house both residential, office, retail and hotel units," he told AFP.
The first phase, spanning about four years, will involve setting up three buildings for business process outsourcing operations, along with a business hotel and a mall in a seven-hectare section, he said.
This first stage will cost about 12 billion pesos.
Much of the area was once a gigantic squatter area where some 6,000 families lived in squalor.
Hundreds of these squatters rioted in 2010 to oppose their relocation, forcing President Benigno Aquino to postpone the demolition of their shanties.
The area covered by the first phase of the project has already been cleared of squatters who have been relocated by the government, Marco said.
Ayala Land, the flagship of the diversified Ayala Corp. conglomerate, posted a 31 percent growth in its net profit last year, hitting 7.14 billion pesos.
For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com.
Friday, June 29, 2012
Ayala unveils 'biggest investment' in one area
ed 06/28/2012 6:10 PM
SUPER
BLOCK. The site may be relatively bare now but Ayala Land CEO Antonino
T. Aquino says, "We called it the super block. It really connotes that
this is going to be the center piece of High Street." Photo by Katherine
Visconti.
RAPPLER - The Ayala group and its partners are pouring P30 billion over 4 years into the development of a prime real estate block in Bonifacio Global City in Taguig.
At a press launch on Thursday, June 28, Ayala Land CEO Antonino T. Aquino referred to this block as "the biggest investment in one single area."
Situated between 3rd Avenue and 30th Street is One Bonifacio High Street, a name apt to show its "importance" as "the principal address" in Bonifacio Global, explained Aquino.
ONE BONIFACIO HIGH STREET. The new mixed use block will be bound by 28th Street, 3rd and 5th Avenues.
Aquino said half of the costs would be taken on by the Shangri-La Group, which will erect a 5 star hotel. "This is going to be the best Shangri-La put up in this country," he added.
He said the remaining P15 billion of the investment will be shared by Ayala Land (via unit Ayala Land Premier), Campos-Ayala venture Evergreen Holdings, and Fort Bonifacio Development.
Of this amount, the following real estate projects will be built;
PREMIUM
RETAIL. A 4-level premium lifestyle hug will feature premium stores,
luxury stopes, refined leisure activities, and fine dining options.
Photo courtesy of Ayala Land.
GRAND
SUITE IN 3 BEDROOM APT. Ayala Land says residences in The Suites will
be characterized by larger-than-usual unit areas and soaring ceilings.
Living spaces range from 136 square-meters to 430 square-meters. Photo
courtesy of Ayala Land.
NEW
HOME. The new corporate headquarters of the Philippine Stock Exchange
will be on the eastern side of the 'super block,' the high-end
Shangri-La hotel on the northern side, and a mall and a residential
building on the southern side. Photo courtesy of Ayala Land.
Below is the location of the future PSE tower within the premier block:
'The Suites'
The market has been receptive for the high-end real estate products. Buyers for the suites is "a very discerning affluent" one, said Aquino.
After priority selling for the 298-unit residential suites started on June 24, 99% were reserved within 96 hours, leaving only 3 units of 298 left as of June 28.
SKY VILLAS. The 63-storey single tower will feature limited edition sky villas. Photo courtesy of Ayala Land.
He said Fort Bonifacio is the neighborhood to be in and that One Bonifacio High Street will "cut at the heart of the district."
"The defining element that we will always set in any Ayala Land Premier project is location," said Aquino.
Beyond Wall Street
"If we consider Makati to be the Wall Street of the Philippines, Ayala Avenue is effectively [that] Wall Street.
In Bonifacio, we did something better… the center is called Bonifacio High Street, the longest pedestrian mall in the country -- one kilometer long," said Aquino.
"This (One Bonifacio High Street) is where we are going to offer nothing but the best in terms of living in the suites, working, living… and a lot of entertainment and dining," said Aquino.
SUPER
BLOCK. The site may be relatively bare now but Ayala Land CEO Antonino
T. Aquino says, "We called it the super block. It really connotes that
this is going to be the center piece of High Street." Photo by Katherine
Visconti.RAPPLER - The Ayala group and its partners are pouring P30 billion over 4 years into the development of a prime real estate block in Bonifacio Global City in Taguig.
At a press launch on Thursday, June 28, Ayala Land CEO Antonino T. Aquino referred to this block as "the biggest investment in one single area."
Situated between 3rd Avenue and 30th Street is One Bonifacio High Street, a name apt to show its "importance" as "the principal address" in Bonifacio Global, explained Aquino.
ONE BONIFACIO HIGH STREET. The new mixed use block will be bound by 28th Street, 3rd and 5th Avenues.Aquino said half of the costs would be taken on by the Shangri-La Group, which will erect a 5 star hotel. "This is going to be the best Shangri-La put up in this country," he added.
He said the remaining P15 billion of the investment will be shared by Ayala Land (via unit Ayala Land Premier), Campos-Ayala venture Evergreen Holdings, and Fort Bonifacio Development.
Of this amount, the following real estate projects will be built;
- P2 billion to P3 billion for a retail component featuring 63 stores
PREMIUM
RETAIL. A 4-level premium lifestyle hug will feature premium stores,
luxury stopes, refined leisure activities, and fine dining options.
Photo courtesy of Ayala Land.- P9.9 billion for The Suites, a premier residential project
GRAND
SUITE IN 3 BEDROOM APT. Ayala Land says residences in The Suites will
be characterized by larger-than-usual unit areas and soaring ceilings.
Living spaces range from 136 square-meters to 430 square-meters. Photo
courtesy of Ayala Land.- P3.5 billion for the new Philippine Stock Exchange (PSE) tower
NEW
HOME. The new corporate headquarters of the Philippine Stock Exchange
will be on the eastern side of the 'super block,' the high-end
Shangri-La hotel on the northern side, and a mall and a residential
building on the southern side. Photo courtesy of Ayala Land.'The Suites'
The market has been receptive for the high-end real estate products. Buyers for the suites is "a very discerning affluent" one, said Aquino.
After priority selling for the 298-unit residential suites started on June 24, 99% were reserved within 96 hours, leaving only 3 units of 298 left as of June 28.
SKY VILLAS. The 63-storey single tower will feature limited edition sky villas. Photo courtesy of Ayala Land.He said Fort Bonifacio is the neighborhood to be in and that One Bonifacio High Street will "cut at the heart of the district."
"The defining element that we will always set in any Ayala Land Premier project is location," said Aquino.
Beyond Wall Street
"If we consider Makati to be the Wall Street of the Philippines, Ayala Avenue is effectively [that] Wall Street.
In Bonifacio, we did something better… the center is called Bonifacio High Street, the longest pedestrian mall in the country -- one kilometer long," said Aquino.
"This (One Bonifacio High Street) is where we are going to offer nothing but the best in terms of living in the suites, working, living… and a lot of entertainment and dining," said Aquino.
For more details on Ayala Land
projects, you may e-mail reby_ramirez@yahoo.com or contact her at 0922.883.9308
/ 0916.4044.555 / 0919.699.3572.
For latest update on real estate
development and its RA 9646, the Real Estate Service Act of 2009, visit
www.ra9646.com.
Saturday, June 16, 2012
Bicol revs up economic engine
INQUIRER, 25 January 2012 - In this Year of the Water Dragon, Bicol is poised to take off. The
optimism stems from the region’s economic growth in previous years as
most of its provinces turned to tourism and services to boost their
standings. Some, however, were hobbled by challenges brought about by
high power costs.
The economic landscape, Salceda says, “looks different, and the momentum of growth it had taken had been decisive.”
In Albay, the official says he needs to focus on addressing high power costs, which he describes as “the biggest single stumbling block to faster, more sustained and more inclusive economic growth.”
Rising power costs have emerged as the biggest disincentive to more domestic and foreign investments, he adds.
“While provinces like Albay have been providing Luzon with cheap geothermal energy of almost 464 (megawatts) while getting virtually nothing, under Epira (Electric Power Industry Reform Act), (Albay) is now compelled to purchase the same power at WESM (Wholesale Electricity Spot Market) for P7.8 per kilowatt-hour (kWh),” he says.
Salceda says the RDC would endorse flagship infrastructure developments, particularly on multimodal transportation infrastructure and the Bicol River Basin Project which are both under way, and the P3.4-billion Southern Luzon International Airport (SLIA) in Daraga town.
“The SLIA is seen to uplift the economy and position of Bicol on the global tourism map,” he says.
CamSur-driven
Provincial administrator Fermin Mabulo, who spoke in behalf of Gov. Luis “LRay” Villafuerte, says that aside from tourism, the financial standing of the largest province of Bicol was fed by a boom in the housing industry.
The entry of real estate giant Ayala Land in the property adjacent to the Capitol complex would be complemented by the improvement of the facilities of the capitol, including the Camarines Sur Watersports Complex (CWC), he says.
“The improvement of the CWC is included in the overall development of 9,000 square meters of provincial land near the capitol, which would be turned into a convention area as Camarines Sur poises to market itself as the convention hub of the country,” says Mabulo.
While CamSur would be harshly affected by the cut in the internal revenue allotment from the national government this year, he says it would remain an affluent province—even if the proposed Nueva Camarines province materializes. He says the partition could hurt growth plans, but he remains hopeful it would not push through.
In Naga, planning and development coordinator Wilfredo Prilles says the city’s economy did very well amid continuing challenges, mainly coming from a slowdown in the property sector.
Last year, the total number of registered firms grew by 33 percent in terms of new business and renewals, says Prilles. “For 2012, we expect this trend to continue,” he adds.
“We see more businesses opening at the same pace, especially with the PNR (Philippine National Railways) services to Bicol now restored. Tourism will continue to be a sunshine industry, with at least two hotels expecting to operate next year,” he says.
In Iriga, tourism is expected to provide an “additional shot in the arm in the short term” as Iriga stages the second “Gayon Bikol” Festival in February, says city information officer Francisco Peñones Jr.
Maj. Angelo Guzman, spokesperson of the Army’s 9th Infantry Division based in Camp Elias Angeles in Pili, Camarines Sur, sees “improving peace situation” as the government’s anti-insurgency program that was implemented starting last year “was slowly harvesting its fruits.”
He claims that more communist rebels will go back to the fold of the law because of dwindling mass support.
Sick man no more
The “newcomers,” Sarion says, includes Philippine Long Distance Telephone Co., which has started installing facilities.
Daet is also undergoing an urban renewal program, including the construction of an integrated terminal, a well-lit plaza, and a renovated government center.
Evelyn de Leon, chair of the small and medium enterprises council of the province, says the entry of McDonald’s, 7-Eleven, Liberty Commercial complex and other investors augurs well for Camarines Norte.
The influx of tourists in the Calaguas group of islands is another boost, along with the growing popularity of the province as a water sports destination.
But De Leon says a slowdown is expected in the mining industry because of the nonissuance of permits to small-scale miners by the provincial government.
Looking bright
In Sorsogon, Gov. Raul Lee expects an improved situation, pinning the fortune of the province mainly on tourism.
“On the peace and order side, we are relatively peaceful. On the economic side, business in the province is relatively slow.” Lee says.
He says he is hoping that 2012 will be a year of less crime and improved economy for the province famous for the butanding or whale sharks that feed off its shores.
In Masbate, Placer Mayor Joshur Judd Lanete, son of Gov. Rizalina Seachon-Lanete, sees a rosy future despite the province being put in bad light due to political violence and criminality.
“The economy and peace and order situations are looking bright. With the help of the Armed Forces of the Philippines and the Philippine National Police, it seems that the people feel safer already. It bodes well for the tourism industry in the province,” he says.
Prospects are up in Catanduanes despite a significant drop in the buying prices of abaca fiber and a steep rise in power rates beginning this month, according to Ireneo Panti, Jr., provincial director of the Department of Trade and Industry. The island produces 20 percent of the country’s annual production.
Panti says the plunge in the price of abaca fiber has kept businessmen worried even as the trade in abaca bacbac (dried leaf sheaths) continues to expand.
Over 20,000 farmers and their families depend on the abaca industry for subsistence.
Catanduanes is also burdened by the unreliable and expensive cost of power, with the Energy Regulatory Commission recently approving six petitions to increase power rates filed by National Power Corp. to recover losses in fuel costs and foreign exchange fluctuations.
The increases, which will bring the cost of residential power to over P12 per kWh, will be implemented over the next four years.
Bishop Manolo delos Santos and Provincial Micro, Small and Medium Enterprise Development Council chair Rene Abella have appealed to Malacañang to defer the power-rate increases. They suggested that these be stretched over six years to cushion their impact on consumers.
The economic landscape, Salceda says, “looks different, and the momentum of growth it had taken had been decisive.”
In Albay, the official says he needs to focus on addressing high power costs, which he describes as “the biggest single stumbling block to faster, more sustained and more inclusive economic growth.”
Rising power costs have emerged as the biggest disincentive to more domestic and foreign investments, he adds.
“While provinces like Albay have been providing Luzon with cheap geothermal energy of almost 464 (megawatts) while getting virtually nothing, under Epira (Electric Power Industry Reform Act), (Albay) is now compelled to purchase the same power at WESM (Wholesale Electricity Spot Market) for P7.8 per kilowatt-hour (kWh),” he says.
Salceda says the RDC would endorse flagship infrastructure developments, particularly on multimodal transportation infrastructure and the Bicol River Basin Project which are both under way, and the P3.4-billion Southern Luzon International Airport (SLIA) in Daraga town.
“The SLIA is seen to uplift the economy and position of Bicol on the global tourism map,” he says.
CamSur-driven
Provincial administrator Fermin Mabulo, who spoke in behalf of Gov. Luis “LRay” Villafuerte, says that aside from tourism, the financial standing of the largest province of Bicol was fed by a boom in the housing industry.
The entry of real estate giant Ayala Land in the property adjacent to the Capitol complex would be complemented by the improvement of the facilities of the capitol, including the Camarines Sur Watersports Complex (CWC), he says.
“The improvement of the CWC is included in the overall development of 9,000 square meters of provincial land near the capitol, which would be turned into a convention area as Camarines Sur poises to market itself as the convention hub of the country,” says Mabulo.
While CamSur would be harshly affected by the cut in the internal revenue allotment from the national government this year, he says it would remain an affluent province—even if the proposed Nueva Camarines province materializes. He says the partition could hurt growth plans, but he remains hopeful it would not push through.
In Naga, planning and development coordinator Wilfredo Prilles says the city’s economy did very well amid continuing challenges, mainly coming from a slowdown in the property sector.
Last year, the total number of registered firms grew by 33 percent in terms of new business and renewals, says Prilles. “For 2012, we expect this trend to continue,” he adds.
“We see more businesses opening at the same pace, especially with the PNR (Philippine National Railways) services to Bicol now restored. Tourism will continue to be a sunshine industry, with at least two hotels expecting to operate next year,” he says.
In Iriga, tourism is expected to provide an “additional shot in the arm in the short term” as Iriga stages the second “Gayon Bikol” Festival in February, says city information officer Francisco Peñones Jr.
Maj. Angelo Guzman, spokesperson of the Army’s 9th Infantry Division based in Camp Elias Angeles in Pili, Camarines Sur, sees “improving peace situation” as the government’s anti-insurgency program that was implemented starting last year “was slowly harvesting its fruits.”
He claims that more communist rebels will go back to the fold of the law because of dwindling mass support.
Sick man no more
The “newcomers,” Sarion says, includes Philippine Long Distance Telephone Co., which has started installing facilities.
Daet is also undergoing an urban renewal program, including the construction of an integrated terminal, a well-lit plaza, and a renovated government center.
Evelyn de Leon, chair of the small and medium enterprises council of the province, says the entry of McDonald’s, 7-Eleven, Liberty Commercial complex and other investors augurs well for Camarines Norte.
The influx of tourists in the Calaguas group of islands is another boost, along with the growing popularity of the province as a water sports destination.
But De Leon says a slowdown is expected in the mining industry because of the nonissuance of permits to small-scale miners by the provincial government.
Looking bright
In Sorsogon, Gov. Raul Lee expects an improved situation, pinning the fortune of the province mainly on tourism.
“On the peace and order side, we are relatively peaceful. On the economic side, business in the province is relatively slow.” Lee says.
He says he is hoping that 2012 will be a year of less crime and improved economy for the province famous for the butanding or whale sharks that feed off its shores.
In Masbate, Placer Mayor Joshur Judd Lanete, son of Gov. Rizalina Seachon-Lanete, sees a rosy future despite the province being put in bad light due to political violence and criminality.
“The economy and peace and order situations are looking bright. With the help of the Armed Forces of the Philippines and the Philippine National Police, it seems that the people feel safer already. It bodes well for the tourism industry in the province,” he says.
Prospects are up in Catanduanes despite a significant drop in the buying prices of abaca fiber and a steep rise in power rates beginning this month, according to Ireneo Panti, Jr., provincial director of the Department of Trade and Industry. The island produces 20 percent of the country’s annual production.
Panti says the plunge in the price of abaca fiber has kept businessmen worried even as the trade in abaca bacbac (dried leaf sheaths) continues to expand.
Over 20,000 farmers and their families depend on the abaca industry for subsistence.
Catanduanes is also burdened by the unreliable and expensive cost of power, with the Energy Regulatory Commission recently approving six petitions to increase power rates filed by National Power Corp. to recover losses in fuel costs and foreign exchange fluctuations.
The increases, which will bring the cost of residential power to over P12 per kWh, will be implemented over the next four years.
Bishop Manolo delos Santos and Provincial Micro, Small and Medium Enterprise Development Council chair Rene Abella have appealed to Malacañang to defer the power-rate increases. They suggested that these be stretched over six years to cushion their impact on consumers.
For latest update on real estate
development and its RA 9646, the Real Estate Service Act of 2009, visit
www.ra9646.com.
For more details on Ayala
Homes, you may e-mail reby_ramirez@yahoo.com or contact her at 0922.883.9308
/ 0916.4044.555 / 0919.699.3572 / 4044-534.
Subscribe to:
Posts (Atom)
