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

PRC Baguio Mobile Outreach March and April 2018 Schedule

The Professional Regulation Commission Baguio Regional Office will conduct a series of Mobile Outreach Services in different Northern and Central Luzon provinces starting March 3, 2018 to April 14, 2018.

Below is the Schedule and the Services available through PRC Baguio Mobile Outreach:
March 03
CB Mall Techno Lounge (Second Floor)
9:00 AM – 4:00 PM

·       Application for licensure examinations with Online Application Form generated and printed at;
·       Initial Registration for Licensure Examination passers with Online Initial Registration Form generated and printed at;
·       Renewal of Professional ID card with Online ID Renewal Form generated and printed at;
·       Release of Professional ID Card and Certificate of Registration (per prior request by the professional and subject to availability);
·       Issuance of Certificate of Good Standing (upon request); and
·       Issuance of Certificates of Passing and Ratings for NLE, LET and Criminologists only.
March 08
Candon City Hall
10:00 AM – 4:00 PM

March 10
My Metro Town Mall
10:00 AM – 4:00 PM

April 02
Municipal Hall
8:00 AM – 4:00 PM

April 07
CB Mall Techno Lounge (Second Floor)
9:00 AM – 4:00 PM

April 12
Candon City Hall
10:00 AM – 4:00 PM

April 14
My Metro Town Mall
10:00 AM – 4:00 PM

Professionals who wish to claim their Professional ID Card and/or Board Certificate on the above schedules, may e-mail us at or or text 0946-083-8240 and/or 0927-788-0145 at least 3 or 4 working days before the scheduled date with the following information:
1. Venue where to claim : (Example: Urdaneta City)
2. Complete Name:
3. Profession:
4. Registration Number:
5. Date Filed: 


Remittances hit all-time high $31.3 B in 2017

Lawrence Agcaoili (The Philippine Star) - February 16, 2018 - 12:00am 
MANILA, Philippines — Remittances sent by Filipinos abroad exceeded the growth target set by the Bangko Sentral ng Pilipinas (BSP) last year to hit a record high $31.29 billion, providing support to the country’s economy as a major driver of domestic demand.

BSP Governor Nestor Espenilla Jr. said personal remittances rose 5.3 percent to a record $31.29 billion last year from $29.71 billion in 2017.

He said the sustained growth in personal remittances was due to higher contributions from land-based workers with work contracts of one year or more that increased by 4.1 percent, while that of sea-based and land-based workers with work contracts of less than one year went up by 5.3 percent.
He said personal remittances accounted for 10 percent of gross domestic product (GDP) and 8.3 percent of gross national income (GNI) last year.

For the month of December alone, personal remittances increased 7.9 percent to $3.05 billion from $2.82 billion in the same month in 2016.

Personal remittances represent the sum of net compensation of employees, personal transfers and capital transfers between households. It measures cash and non-cash items that flow through both formal or via electronic wire and informal channels such as money or goods carried across borders.

Likewise, Espenilla said cash remittances coursed through banks grew 4.3 percent to an all-time high of $28.06 billion last year from $26.9 billion in 2016.

“Notwithstanding pockets of political uncertainties across the globe, cash remittances in 2017 remained resilient,” the BSP chief said.

The BSP has set a four percent growth target for both personal and cash remittances for 2017. 

Espenilla said the higher cash remittances in 2017 were supported by the increase in transfers from both land-based and sea-based workers by four percent and 5.4 percent, respectively.
By country source, the bulk or 80 percent of total cash remittances came from the US, United Arab Emirates, Saudi Arabia, Singapore, Japan, United Kingdom, Qatar, Kuwait, Germany and Hong Kong.
Remittances from the Middle East inched up 3.4 percent, driven by growth in remittances from the UAE, Qatar and Bahrain, while the amount of money sent home from Asia rose 7.3 percent, boosted by transfers originating from Singapore, Japan and Taiwan.
For the Americas, which increased by 5.8 percent, the major contributor was the 5.5 percent growth in remittances from the US.

Despite the decrease in remittances coming from the United Kingdom partly due to the depreciation of the pound sterling vis-a-vis the US dollar, data showed remittances from Europe still increased 1.5 percent.

For the month of December alone, cash remittances went up 7.1 percent to an all-time high of $2.74 billion from $2.56 billion in the same month in 2016.

The Philippines booked 76 quarters of uninterrupted growth with the GDP expanding 6.6 percent in the fourth quarter from the revised seven percent in the third quarter.

BSP Deputy Governor Diwa Guinigundo earlier said the amount of money sent home by Filipinos abroad would continue to grow this year despite the setbacks arising from the deployment ban to Kuwait as well as the imposition of higher fees on remittances.

Guinigundo said the decision of Malacanang to impose a ban on the deployment of Filipino workers to Kuwait would have a minimal impact on remittances.

He pointed out cash remittances from Kuwait account for only about three percent of total remittances.

 “On the ban on deployment of OFWs to Kuwait, the impact may not be significant. Prospective workers may still be deployed to other countries with demand for Filipino workers,” he added.

Likewise, he clarified that Filipinos working abroad are exempted from the payment of documentary stamp tax (DST) on remittances that was doubled to 60 centavos for every P200 from the previous 30 centavos under Republic Act 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) law signed by President Duterte last Dec. 19.

ALI boosts capex to P111B in 2018

The park and garden portion of Ayala Land Inc's Greenbelt shopping and dining complex is seen at the heart of a business district in Makati city, metro Manila March 11, 2016. -- REUTERS
By Arra B. Francia, Reporter

AYALA LAND, Inc. (ALI) is ramping up spending for 2018, as the property giant sees solid demand for residential projects.

ALI Chief Finance Officer Augusto Cesar D. Bengzon said this year’s P110.8-billion capital expenditure budget is higher than the annual average of P80 billion it spent from 2013 to 2017.

“I think this year, 2018, will be a landmark year. It’s a transition for the company given that we see good prospects for the market and at the same time, we recognize that we have that platform that we can unlock,” Mr. Bengzon said in a press briefing in Makati City on Wednesday.

The 2018 capital spending is 21% higher than the P91.4 billion ALI spent in 2017. The company has originally set its 2017 capex at P88 billion, but said that they were prompted to spend more given the strength of demand from the property sector.

Residential projects will account for 43% or P47.4 billion of this year’s capex, while 17% or P18.7 billion will be poured into mall projects. Around 12% or P14 billion will be allocated for land acquisitions.

Meanwhile, P8.5 billion will be used for office projects, and P8.8 billion will be for the development of existing estates. ALI also continues to develop its hotels and resorts business, with an allocation of P7 billion for the year.

The remaining P6.4 billion will be spent for services and other investments.

ALI also plans to launch P125 billion worth of projects this year. This is 25% higher than the company’s goal of launching up to P100 billion worth of projects last year.

Mr. Bengzon, however, noted ALI was not able to reach its target project launches last year, unveiling 28 projects worth only P88 billion.

Majority of the projects in the pipeline are residential and offices for sale, which will account for P100 billion of projects to be launched this year. The residential projects will be under its AyalaLand Premier, Alveo, Avida, Amaia, and BellaVita brands.

ALI said it will launch two estates in 2018, one located in the Visayas-Mindanao area and another in Quezon City, noting the latter will be a pocket development covering 11 to 12 hectares. 

The company currently has 25 mixed-use estates, and a developable land bank of 10,285 hectares.

The remaining P25 billion will be used to develop leasable properties such as malls and offices.

This year, ALI will open two new shopping malls, the first being One Bonifacio High Street in Bonifacio Global City, Taguig. Scheduled to open in March, the mall has a gross leasable area (GLA) of 23,000 square meters.

Set to open in June is Circuit Mall, located in the company’s mixed-use estate in Makati City. The mall will have a GLA of 54,000 sq.m. This will bring ALI’s GLA from malls to 2.57 million sq.m., after ending 2017 with 1.8 million sq.m.

For its office segment, ALI will be opening Ayala North Exchange HQ in Quezon City with a GLA of 20,000 sq.m. in June, and Vertis North BPO 3 with a GLA of 38,000 sq.m. The additional spaces will supplement the company’s 1.02 million sq.m. of leasable space as of end-2017.

“We now have a very broad leasing base, firmly the second largest mall operator in the country… and the largest office landlord in the Philippines today,” Mr. Bengzon said.

To fund this year’s capex, ALI is looking to tap the bond market after other issuers, specifically San Miguel Corp. and SM Prime Holdings, Inc., have conducted their bond offerings.

“You should expect us to be going out very soon, for a combination of bonds and we will also do some bilaterals because there are banks that continue to offer us very good rates,” Mr. Bengzon said. 

“The capex roughly will require us to raise about P20 billion, so we’re looking at half from the retail bond segment, and the half from bilaterals owing to banks,” he added.

ALI’s attributable profit grew 21% to P25.3 billion in 2017, as revenues penciled in a 14% increase to P142.3 billion during the period.

Shares in ALI were down by 50 centavos or 1.11% to close at P44.60 apiece at the stock exchange on Thursday.

PRC Exercises Maximum Flexibility in the Implementation of the CPD

Manila, Philippines - Since the implementation of the Continuing Professional Development in July 2017, no professional who applied for the renewal of his/her professional ID has ever been denied by PRC due to incomplete or lacking CPD units. The PRC exercises maximum flexibility in the implementation of the CPD and has made available for the professionals the Undertaking embedded in the Professional Identification Card (PIC) renewal form, thereby allowing the professional to complete and submit only the CPD units in the next renewal period three years after his/her first renewal under CPD Law. 

The PRC directed all CPD Councils of the 43 regulated professions to review and if necessary, make amendments to their respective CPD Operational Guidelines to address the clamor of the professionals. Some CPD Councils have revised their respective operational guidelines to further make CPD more accessible and affordable. 

PRC appeals on all professionals who care about public safety and welfare, those who wish to deliver the best services to their clients, patients and students to stand up, adhere and support this effort of the government in ensuring that our professionals are not left behind in information, skills, knowledge for the good and well-being of our countrymen. 

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