PHILIPPINE REAL ESTATE and RELATED NEWS in and around the country . . .
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Clark hub design too big—Abaya

By Alena Mae S. Flores | Dec. 31, 2014 at 11:30pm [ BusinessWorld Online ]

The Transportation Department said it plans to construct the P7.2-billion Clark International Airport budget terminal in phases to accommodate the “too big” design of Aeroports De Paris of France.

“Aéroports de Paris designed a huge terminal that is beyond what we thought would be the actual demand. Our struggle, we don’t need it yet,” Transportation Secretary Joseph Emilio Abaya said.

Abaya said as the French firm refused to modify the design, the government would instead build the project in Pampanga province in several phases.

“We should do it in phases. At first, they don’t want to revise it. We think it is too big a design,” he said.

More than 1 million passengers currently use Clark International Airport annually, a figure that is expected to rise dramatically in the coming years as the government aims to decongest Ninoy Aquino International Airport in Metro Manila.

The department tapped Aeroports de Paris to conduct the feasibility study of the Clark budget terminal as part of the government’s move to decongest Naia.

Aeroports De Paris was tasked to conduct the feasibility study for the master plan as well as the design of the budget terminal building that would be set up at the 2,367-hectare Clark Civil Aviation Complex.

“The compromise is, we’ll still honor the design but we construct in phases as the demand comes in, we will build it. Next year [2015], we have funding for the first phase,” Abaya said.

The new budget terminal building is estimated to cost P7.2 billion, with a passenger capacity of 15 million annually.

The government decided to keep Naia as Luzon’s premier gateway, while expanding the capacity of Clark as the alternative hub.

Investors such as San Miguel Corp. offered to build another airport on reclaimed portions of Manila Bay, but the proposal was shelved after the conglomerate divested from flag carrier Philippine Airlines.

“We recognize that Naia and Clark both have significant impacts to the country’s economic growth, particularly in terms of tourism and logistics. In line with this, we are working to maximize the capacity of Naia and to further develop that of Clark,” Abaya said earlier.

Abaya said “the medium term plan is to operate both Naia and Clark to serve Luzon.”

“To further support this, a feasibility study is also being developed for the North-South commuter railway, which will make Clark more accessible from Metro Manila,” he said.
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Filinvest sets aggressive expansion

By Richmond S. Mercurio (The Philippine Star) | Updated December 28, 2014 - 12:00am

MANILA, Philippines - Filinvest Land Inc., the real estate arm of the Gotianun family, is preparing a more aggressive expansion of its residential offerings next year as it seeks to further cement its mark in the affordable and middle-income housing market segments.

With an estimated landbank of over 2,400 hectares, FLI president and chief executive officer Josephine Gotianun-Yap said the company has planned further expansions in Northern Luzon next year.

Specifically, FLI will ramp up residential offerings through project launches in Taguig, Pasig, Valenzuela, Paranaque, Cavite, Binondo, Manila, Mactan, Cebu, Dumaguete and Iloilo.

“FLI has one of the largest landbanks among the listed property companies. We have enough land to sustain projects for over 10 years,” Gotianun-Yap said.

She said the Filinvest Group’s housing portfolio is still the “bread and butter” of the company, even with its diversification into other real estate businesses such as hotel developments and investments in power generation, financial service, sugar farming and milling.

She said 70 percent of FLI’s income is still derived from development projects while 30 percent comes from rental or recurring income projects.

“Filinvest is one of the country’s top and largest nationwide developers in the affordable and middle-income market segments. We have a sustained focus on our core affordable market in 2015. The nationwide housing backlog would still drive the housing demand for our middle income and affordable brands,” Gotianun Yap said.

FLI said it would continue to address these markets through the continued roll-out of its Futura brand of affordable homes and the Oasis and Spatial medium rise buildings in urban centers.

“By focusing on medium rise buildings and traditional housing, Filinvest continues to develop projects with construction cycles of less than a year to meet the immediate needs of our end user market,” Gotianun-Yap said.

“We are particularly proud of our Oasis and Spatial products which provide family units in urban centers in the affordable P2 to P3 million range.  With over 60 percent of the land allocated for green spaces, amenities and open areas, we keep our medium rise building projects low density to ensure you have a sustainable and happy environment to raise your family,” she added.

FLI has presence in over 40 key areas nationwide following launches of more housing and medium rise building projects outside Metro Manila and in more regional centers in recent years.
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Filinvest Land to boost leasable space by 58%

Posted on December 28, 2014 09:57:00 PM [ BusinessWorld Online ]
FILINVEST LAND, Inc. said it plans to boost its gross leasable area by at least 58% next year through the expansion of its mall in Muntinlupa City and the launch of new shopping centers in Cebu, Laguna, Tagaytay and Cavite.

Filinvest Land, the property unit of Gotianun-led Filinvest Development Corp., now has leasable space of 134,090 square meters (sq.m.), it said in a statement.

The expansion of Festival Supermall in Alabang and the soft launch of four other projects will bring the real estate developer’s gross leasable area to 219,195 sq.m. next year.

The company had said in November it wants to increase its gross leasable area to around 995,000 sq.m. within five years.

Festival Supermall, the company’s flagship mall located in Alabang and managed by its wholly owned subsidiary Festival Supermalls, Inc., will add 46,705 sq.m. in 2015 to the current 134,090 sq.m. of leasable space, Filinvest Land Corporate Communications Manager Christine A. Gaylican said in a mobile phone reply on Sunday.

Meanwhile, the developer’s retail and commercial centers in Cebu and Laguna will be operational in 2015, according to Filinvest Land Senior Vice-President for Commercial Center and Retail Management Joy Polloso.

Construction is ongoing for Il Corso, the company’s lifestyle, retail and dining strips in Cebu. The project will have 11 connected buildings with a gross floor area of 55,000 sq.m. and a gross leasable area of 36,000 sq.m.

“The Central Piazza where the main entrance and amphitheater are located will be ready to welcome guests early next year,” Ms. Polloso said.

The company’s 4.4-hectare project in Laguna, The Village Front, is planned to be the commercial area for the Brentville International community in Biñan.

Fora, Filinvest Land’s mixed-use development at the Tagaytay Rotunda, will be complete by 2016 and will house 32,000 sq.m. of retail and mall space.

Also in 2016, the company will launch Center Square Community Mall in Molino, Cavite, which will add 20,000 sq.m. of retail space to its portfolio.

Filinvest Land Chief Executive Officer and President Josephine Gotianun-Yap earlier said the property developer will be making “significant investments” in its recurring income portfolio to provide “stability” to its revenue stream.

Filinvest Land’s net income rose 19% to P2.89 billion in the nine months ending September, buoyed by its leasing business. Revenues also climbed 27% to P11.82 billion.

Filinvest Land’s shares gained three centavos or 2.01% to close at P1.52 each on Tuesday. Philippine financial markets were closed from Dec. 23 for the holiday break and reopen today. -- Daphne J. Magturo            
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8990 to sell P5-b bonds

By Jenniffer B. Austria | Dec. 28, 2014 at 10:50pm [ manilastandardtoday.com ]

Mass housing developer 8990 Holdings Inc. plans to issue up to P5 billion worth of corporate bonds by the first half of 2015, as it prepares to roll out more residential units in 2015.

8990 Holdings president and chief executive Januario Jesus Atencio said the company would use proceeds from the fund-raising activity to fund capital spending next year.

This will be the company’s first fund-raising activity, after it generating P9 billion through a follow-on-offering in May.

Atencio said the company remained keen on raising fund through securitization.

8990 Holdings announced last year a plan to raise P1 billion from the sale of receivables arising from eligible contracts to sell.

It will be the first private sector-led securitization in the Philippine housing sector, following the success of the “Bahay Bonds” that were sold by government-owned National Home Mortgage Finance Corp.
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Filinvest sets aggressive expansion

By Richmond S. Mercurio (The Philippine Star) | Updated December 28, 2014 - 12:00am

MANILA, Philippines - Filinvest Land Inc., the real estate arm of the Gotianun family, is preparing a more aggressive expansion of its residential offerings next year as it seeks to further cement its mark in the affordable and middle-income housing market segments.

With an estimated landbank of over 2,400 hectares, FLI president and chief executive officer Josephine Gotianun-Yap said the company has planned further expansions in Northern Luzon next year.

Specifically, FLI will ramp up residential offerings through project launches in Taguig, Pasig, Valenzuela, Paranaque, Cavite, Binondo, Manila, Mactan, Cebu, Dumaguete and Iloilo.

“FLI has one of the largest landbanks among the listed property companies. We have enough land to sustain projects for over 10 years,” Gotianun-Yap said.

She said the Filinvest Group’s housing portfolio is still the “bread and butter” of the company, even with its diversification into other real estate businesses such as hotel developments and investments in power generation, financial service, sugar farming and milling.

She said 70 percent of FLI’s income is still derived from development projects while 30 percent comes from rental or recurring income projects.

“Filinvest is one of the country’s top and largest nationwide developers in the affordable and middle-income market segments. We have a sustained focus on our core affordable market in 2015. The nationwide housing backlog would still drive the housing demand for our middle income and affordable brands,” Gotianun Yap said.

FLI said it would continue to address these markets through the continued roll-out of its Futura brand of affordable homes and the Oasis and Spatial medium rise buildings in urban centers.

“By focusing on medium rise buildings and traditional housing, Filinvest continues to develop projects with construction cycles of less than a year to meet the immediate needs of our end user market,” Gotianun-Yap said.

“We are particularly proud of our Oasis and Spatial products which provide family units in urban centers in the affordable P2 to P3 million range.  With over 60 percent of the land allocated for green spaces, amenities and open areas, we keep our medium rise building projects low density to ensure you have a sustainable and happy environment to raise your family,” she added.

FLI has presence in over 40 key areas nationwide following launches of more housing and medium rise building projects outside Metro Manila and in more regional centers in recent years.
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