PHILIPPINE REAL ESTATE and RELATED NEWS in and around the country . . .

One-stop shop gov’t center rises at Equus City in Calamba

(The Philippine Star) | Updated January 31, 2015 - 12:00am
All for One, One for All: Calamba Mayor Justin Marc Chipeco (left) and Rep. Jun Joaquin Chipeco (2nd from left) join top executives of Greenfield Development Corp. led by Jeffrey Campos (center) in a show of support during the inauguration of the Calamba Regional Government Center. Others in photo are (from left)  John Michael Tan and Duane Santos. 

MANILA, Philippines - Equus City, a 25-hectare commercial hub in Calamba, Laguna being developed by Greenfield Development Corp., got off to a good start this year with the recent inauguration of a “one-stop shop” government center located in the area. Interior and Local Government Secretary Mar Roxas led the inauguration of the new building and personally witnessed the signing of a joint venture agreement between Greenfield and the Calamba City government represented by Mayor Justin Marc Chipeco together with his father, Rep. Joaquin “Jun” Chipeco.

Called the Calabarzon Regional Government Center (CRGC), the new building was built through a public-private partnership (PPP) program with the Calamba City government, AlloyMtd Philippines and Greenfield. It is envisioned to solve the issue of government agencies in Region IV-A being scattered in different locations thus making public service inconvenient, difficult and costly for those transacting business with the government. Upon completion, the CRGC will also enable different regional government branches in Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon) to be located in just one, easily accessible place.

Located at Barangay Mapagong, Calamba City in Laguna, the P2.5-billion facility is a first-of-its-kind development in the entire country, and was practically made possible with the help of Greenfield which donated a prime lot located near the South Luzon Expressway (SLEx) in Calamba City, Laguna.

Jeffrey D.Y. Campos, president and chairman of Greenfield, said his company is proud to have been a part of the development. “This development is the fulfillment of a life-long dream of our founder, Jose Y. Campos, who has always been supportive of government endeavors in Laguna in the past. His vision has always been to make life easier for people, especially those living in the southern part of Manila. The CRGC will enable government offices to service more Filipinos coming from Calabarzon (Region IV-A) area more efficiently, so we’re happy to be a part of this development.”

For his part, Roxas lauded the opening of the regional government hub saying: “Government agencies have been renting office buildings since time immemorial, and we want to change that (practice) with this new hub.  I’d like to thank Greenfield for their land donation. The new facility will serve as a symbol of the Philippines’ future – having a modern government facility is one of the best measures of success of a country.”

Inspired by Malaysia’s federal administrative center, Putrajaya, the six-story government center aims to house more than 20 regional government offices in one location. Although still lacking some fixtures and power and communication lines, at least two government agencies — the DILG and the National Economic and Development Authority (NEDA) — have already signed lease contracts to hold office in the facility. Space in the facility is being leased for P450 per square meter per month.

Aside from the DILG, other government offices are also expected to move in soon. These include those of the Department of Tourism, Bureau of Fisheries and Aquatic Resources, Pag-Ibig Fund and Land Bank of the Philippines.

Century Properties to issue P6.6-B dollar-denominated bonds in Feb.

Posted on January 30, 2015 09:58:00 PM [ BusinessWorld Online ]
By Daphne J. Magturo, Reporter

CENTURY PROPERTIES Group, Inc. (CPG) is raising up to $150 million (P6.6 billion) from a debt offering in February to fund spending for “general corporate purposes,” the luxury condominium developer said on Friday.
In a disclosure to the Philippine Stock Exchange, CPG said its board of directors approved the transaction in a special meeting on Friday.

“The Board has been informed that the Notes may only be offered to not more than nineteen (19) non-qualified buyers and to any number of qualified buyers as defined in the Philippine’s Securities Regulations Code,” the disclosure read.

The notes will be listed on the Singapore Stock Exchange (SGX) and will not be registered with the local Securities and Exchange Commission, the company said in the regulatory filing.

“The USD Bonds will be the direct, unconditional, unsubordinated and unsecured obligations of CPG. The Guarantees will be the direct, unconditional, unsubordinated and unsecured obligation of CPG’s operating subsidiaries,” the company said in an e-mailed statement.

The high-end developer said it has hired HSBC Holdings plc, Standard Chartered Bank, and UBS AG as underwriters for the dollar bond sale.

“There can be no assurance in respect of: (i) whether the Company would issue such debt securities at all; (ii) the size or timing of any individual issuance or the total issuance of such debt securities; or (iii) the specific terms and conditions of any such issuance,” CPG said.

CPG is the builder of Essensa East Forbes in Fort Bonifacio in Taguig, Pacific Place in Ortigas and the Gramercy Residences in Century City in Makati.

Shares of the company shed one centavo or 1.01% to close at P0.98 apiece on Friday.

8990 Holdings passes 2014 profit target

By Richmond S. Mercurio (The Philippine Star) | Updated January 30, 2015 - 12:00am

MANILA, Philippines - 8990 Holdings Inc. said it expects profits to continue growing double digits this year after it outperformed its 2014 profit guidance.

In a briefing yesterday, 8990 Holdings president and chief executive officer Januario Jesus Atencio said the company was able to surpass last year’s profit guidance of P3 billion as net income grew 52 percent year-on-year to P3.3 billion.

Atencio said the housing developer likewise met its sales guidance for 2014, with gross sales increasing 48 percent to P7.9 billion and net margin improving to 43 percent from the previous year’s 40 percent.

“These are still unaudited figures, but audited figures should not be far once it comes out,” he said.

Atencio attributed last year’s strong performance to the country’s strong economy supported by the increase in OFW remittances and growth in the BPO sector.

With last year’s impressive performance, Atencio said 8990 Holdings is now gearing up for an even more profitable year.
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The firm is targeting to further grow its net income between 15 percent to 21 percent this year to about P3.8 billion to P4 billion.

Revenue growth, meanwhile, is eyed at 22 percent to 27 percent at P9.6 billion to P10 billion.

This year, Atencio said the company is looking to bolster its presence in Luzon through more projects.

“Luzon is the new area for us. We are already strong in the Visayas and Mindanao region and we are already stable there. I want to have more presence in Luzon,” he said.

A total of 11,083 housing units is being planned to be built by the company this year, of which 44 percent will be in Luzon, 31 percent in the Visayas, and 25 percent in Mindanao.

As such, the company said 42 percent of the company’s projected 2015 revenues would come from Luzon, while 32 percent and 27 percent would come from Visayas and Mindanao projects, respectively.

8990 Holdings is hiking its spending program this year to P8 billion, of which P3 billion will be used for capital expenditures and another P5 billion for operating expenses.

Atencio said the mass housing builder is currently scouting for properties in Bacolod, Bulacan, Pampanga and Davao to expand its landbank.

Last year, nine new projects spread over 96.9 hectares consisting of 10,855 housing units were launched by 8990 Holdings.

Megaworld sees P2-b sales

By Jenniffer B. Austria | Jan. 29, 2015 at 10:25pm [ ]

Megaworld Corp. said it expects to generate P2 billion in sales this year from the company’s first residential project in the 11.2-hectare Davao Park District.

Megaworld said in a disclosure to the stock exchange wholly-owned unit Suntrust Properties Inc. nearly sold out the first tower at One Lakeshore Drive, prompting it to immediately launch a second tower in January.

“We are very happy with the overwhelming reception of Davaoeños to our first residential project in Davao Park District. Our experience is far beyond what we have expected,” Suntrust Properties president Harrison Paltongan said.

One Lakeshore Drive is a four-tower residential condominium cluster that will rise at the center of Davao District Park.

Suntrust also teamed up with PLDT Home, a leading multimedia solutions provider, to provide every resident with connectivity through Fibr, Telpad and DSL services.

Metro condo prices: Lowest in Las Piñas, highest in Makati

By Richmond S. Mercurio (The Philippine Star) | Updated January 29, 2015 - 12:00am

MANILA, Philippines - Buying a condominium in Metro Manila? Las Piñas offers the cheapest prices on the average, according to global online property platform Lamudi.

In its latest report, Lamudi Philippines said property seekers on the hunt for a reasonably-priced condominium should consider buying in Las Piñas as it emerged as the city with the lowest average condo prices in Metro Manila.

The report showed average price of condominiums in the city stands at P49,849 per square meter, cheaper than anywhere else in the metro.

Makati, on the other hand, has the most expensive condominiums, with units costing an average of P139,012 per square meter.

That would bring the selling price of an average 120-square meter condo in the country’s prime business district at about P16.68 million, Lamudi said.

Lamudi, however, said although Makati’s property market is quite pricey, the city has a wide array of condo properties available which ranges from a very expensive P388,888-per-square meter branded residence in Ayala Center, to an affordable P27,137-per-square meter medium-rise condo in San Antonio Village.

Taguig came as having the second most expensive condominiums with an average asking price of P126,129 per square meter.

The report revealed that condominiums in Taguig’s Bonifacio Global City (BGC) area command the highest prices, with the most pricy reaching about P333,333 per sqm.

The cheapest condo in Taguig is located in the outskirts of BGC, costing P23,333 per square meter, the report showed.

Lamudi said Pasay and Quezon City have almost identical average condo prices at P104,685 and P101,277 per square meter, respectively.

The Lamudi data showed that average condo prices in Manila, Mandaluyong, San Juan, and Pasig are at P95,134, P88,174, P87,294, and P80,329 per square meter, respectively.

The online property platform, however, said no data was generated for Marikina, Valenzuela, Pateros, Malabon, Caloocan, and Navotas due to lack of condo listings in these cities.

Lamudi is a global property portal focusing exclusively on emerging markets, generating about one million visitors per month. Its fast-growing platform is currently available in 28 countries in Asia, the Middle East, Africa and Latin America, with more than 600,000 real estate listings across its global network.

Jacqueline van den Ende, managing director of Lamudi Philippines, said the report was designed to inform Filipinos on property prices and to give a clear picture of how the real estate market was behaving.

“The Philippine real estate market is rapidly growing and what the market needs is hard data to inform Filipinos’ buying decisions,” Van den Ende said.
“In the future, our property price analysis will also include not only of condos but also prices of houses, commercial and office spaces, and industrial properties from across the Philippines,” she added.

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