Wednesday, November 30, 2011

SM owner ‘interested’ in Cebu airport land

Thursday, December 1, 2011

CEBU CITY – The proposal to transfer the Mactan-Cebu International Airport (MCIA) to the Municipality of Cordova became more feasible with the entry of an investor who wants to help implement the project.

Representative Tomas Osmeña (Cebu City, south district) showed Wednesday to reporters the proposal letter of SM Prime Holdings Inc., which is willing to buy the 300-hectare property where the airport stands.

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SM’s payment may then be used to fund the construction of a “larger and more modern” international airport in Cordova.

“We are pleased to inform your good office of SM Prime Holdings Inc.’s intent to participate in MCIA’s fund-raising efforts in relation to the project (building a new international airport). We heard that among the options being considered by the MCIAA (Mactan-Cebu International Airport Authority) is the possible privatization/sale of MCIA’s current location. In this regard, we are willing to discuss the terms of our possible participation in the disposition of the subject property,” said Hans Sy, the president of SM.

“We believe that SM’s proposal will help the MCIAA raise the necessary funding for the said project,” he added.

Sy’s letter dated November 3 was addressed to MCIA General Manager Nigel Paul Villarete, and was coursed through Osmeña.

If plans push through, Sy said SM will develop a world-class and modern commercial and mixed-use complex on the MCIA property.

Needs study

“This stands to create significant economic activity, not to mention thousands of employment opportunities within the region,” he said.

In a phone interview Wednesday, Villarete said he already presented SM’s proposal to the MCIAA Board during their meeting last Monday, and was referred to the committee on strategic planning and development for study.

Villarete said SM’s proposal will still have to be “carefully studied” by the board.

“It’s something very complicated and very intricate and a very large scale undertaking so we need to look at it very carefully,” he said.

When asked for the value of the 300-hectare airport and if it will be enough to cover the cost of building a new international airport, Villarete declined giving any figures for now.

In a news conference he called at his house in Barangay Guadalupe Wednesday, Osmeña endorsed the proposal of SM. He said selling the property to SM and constructing a new one is better than rehabilitating the existing airport.

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Opportunity

If the MCIA will be rehabilitated, Osmeña said he was told that it will cost the airport management some P5 billion, and funds will have to be borrowed from the World Bank.

To pay off the loan, Osmeña said the airport might even increase the present terminal fee from P200 to P400, at the expense of the airline passengers.

“The clearest advantage of this (SM’s proposal) is that you don’t have to spend money. There’s a little window of opportunity now unless people want to pay a P400 terminal fee,” he said.

Osmeña believes SM’s proposal will “enhance the attractiveness of Cebu and will make Cebu globally competitive.”

He said it will make the Cordova Reclamation Area and the Lapu-Lapu City Reclamation Area more attractive to investors.

Highway

The congressman also proposed that once the MCIA property is sold, the runway could be converted into a highway, which can be extended from the Lapu-Lapu City Reclamation Area to the Cordova Reclamation Area.

He said this will ease traffic in Lapu-Lapu City’s main thoroughfares and Cordova’s roads, among others. He said the runway may also be closed once a year and used as a Formula 1 racing circuit.

Lapu-Lapu City officials were already informed about SM’s proposal, he said, and City Hall was sent a copy of the letter.

“You know, this is not an easy project. But let it be debated on, let it be discussed,” he said.

Osmeña, who has long pushed to annex Cordova and Cebu City, has been vocal about his support for the transfer of MCIA to Cordova.

Meanwhile, Villarete welcomed the House committees’ approval of the recommendation of Representative Arturo Radaza (Cebu, 6th district) to allow Lapu-Lapu City Mayor Paz Radaza to sit in the MCIAA Board.

“I believe that as far as the airport is concerned, it will be to our best interest and to the best interest of Lapu-Lapu City. Allowing the local chief executive to sit in the board will help in a lot of matters, more specifically on coordination and in mutual assistance,” he said.

Recommendation

The House committees on transportation and government enterprise also reportedly approved another amendment proposed by Congressman Radaza that the three private sector representatives in the MCIAA Board be no longer recommended by the governor of Cebu.

He proposed that this be done instead by a governance committee, as mandated by a law governing government-owned and controlled corporations (GOCC).

Lawyer Michael Dignos, acting Lapu-Lapu City legal officer and the city’s chief liaison to Congress, said the two house committees approved Radaza’s proposal last November 23.

Lawyer Rory Jon Sepulveda, the Capitol’s consultant on information and revenue generation, said they welcomed the inclusion of the Lapu-Lapu City mayor in the MCIAA Board.

He added that the committees’ recommendation to remove the governor’s recommending powers for the selection of private sector representatives is already “water under the bridge.”

While the old MCIAA charter specified that the governor has such recommending powers, this proviso became moot and academic when Republic Act 10149, governing GOCCs, was passed into law.

Dignos said the two House committees also approved proposed amendments on allowing some parts of the airport, except for its runway and taxiway, to be taxed. (PDF/JKV of Sun.Star Cebu)

Published in the Sun.Star Cebu newspaper on December 01, 2011.

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Tuesday, November 29, 2011

Rising demand to prevent glut in Cebu’s condos, says realtor

By Mia A. Aznar

Tuesday, November 29, 2011

REAL estate brokers do not see a slowing down of condominium developments in the next five years, even with the sudden growth of such projects in Cebu.

Richard Azares, incoming president of the Philippine Association of Realtors Board (Pareb)-Cebu Realtors Board (Cereb), said they remain bullish on the market for condominium units.

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Azares noted that the bulk of the buyers are investors and overseas Filipino workers (OFWs), who make up 50 percent of the buyers of condominium units.

However, they also cater to starter families, retirees who don’t want the hassle of maintaining a big house, and those working in business process outsourcing companies.

Though majority of the projects are between the P1-million and P3-million range, Azares noted that there is a niche for the high-end condominium units, those that are over P5 million.

“You would be surprised,” Azares told Sun.Star, saying the more expensive condominium units are also selling fast.

While some still consider it as an investment, there are many who opt to live in condominium units.

The optimism for the condominium development comes from the fact that many of these units are already sold at the pre-selling stage, which is not happening in other countries.

Investors, on the other hand, feel real estate is the safest investment these days. “Some of them buy one unit in each development.”

Though most of these investors are Cebuanos, Azares noted business owners from Mindanao are among their buyers, particularly those who want to send their children to school here and buy condominiums for them to stay in.

He acknowledged that some are apprehensive about the sudden rise in condominium development but he allayed fears that too many are being built at the same time that there could be market saturation.

“For now, we don’t see that happening,” he said.

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House and lot units are also climbing steadily, although the growth is not as fast as with condominium projects.

Azares said that for Filipinos, they can never go wrong if they invest in real estate. Instead of just keeping money in the bank, which gives low interest rates, leasing or reselling property gives them more for their money.

He cited the case of Consolacion, which once sold lots for P1,000 per square meter.

With the opening of the Cansaga Bridge and the development of a new SM mall, Azares said lots in the town now fetch prices of not less than P5,000.

However, he still believes the development is heading south, with the South Coastal Road and South Road Properties paving the way.

Published in the Sun.Star Cebu newspaper on November 30, 2011.

ALI plans to integrate business, IT parks

By Katlene O. Cacho

Tuesday, November 29, 2011

AYALA Land Inc. (ALI) recently launched Cebu Park District, a new brand that aims to promote further its two major developments here, the Cebu Business Park and Cebu I.T. Park (formerly Asiatown I.T. Park).

ALI president and chairman of Cebu Holdings Inc. Antonino Aquino last week said the new brand is meant to uplift the image of Cebu’s twin business districts as a “complete destination in itself yet complementing each other to create the premier
district of business, leisure and living in the region.”

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He said the new branding would help them reinforce the firm’s footing in the real estate industry in the Southern Philippines.

Aquino compared Makati and Bonifacio Global City with CBP and Cebu I.T. Park, which have similar integrated developments. “We want to replicate the success of our developments in Manila here in Cebu,” Aquino said.

“Cebu Park District is a testimony to the company’s proven track record of building integrated cities that offer diversity, vibrancy, and dynamism. Already recognized as the city’s leading destination for shopping, dining, and recreation, on top of being a thriving business hub, efforts are now underway to integrate CBP with Cebu I.T. Park,” ALI said.

Aquino said the Cebu Park District will be a home of an integrated urban community.

“Our intent is to continue to build toward this vision: to introduce people to a mixed-use and integrated living concept where the live-work-play equity comes to life.”

More to come

ALI and Cebu Holdings Inc. have invested over P10 billion in the last 22 years. Aquino said the company will be investing over P10 billion more for new developments in Cebu over the next five years.

Six buildings are under construction and two more developments are expected to begin within the year at CBP. Cebu I.T. Park, on the other hand, continues to see rapid development with seven buildings under construction.

According to ALI, CBP and Cebu I.T. Park today compose the biggest twin master-planned developments in Southern Philippines and are both certified as business and I.T. economic zones by the Philippine Economic Zone Authority.

ALI believes with the accelerated build-up, Cebu Park District will be able to provide more opportunities for employment and entrepreneurship. CBP and Cebu I.T. Park have over 35,000 workers, a figure that’s expected to grow by 20 percent next year.

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Aside from building communities, office and retail establishments, ALI has also invested in infrastructure improvements to improve pedestrian and traffic management within the parks, as well as landscaping and streetscapes to maintain the “park experience”.

Published in the Sun.Star Cebu newspaper on November 30, 2011.

Sunday, November 27, 2011

PAL pledges to prioritize Cebu in international promotions

Sunday, November 27, 2011

PHILIPPINE Airlines (PAL) said Cebu remains on top of its list of local destinations that the flag carrier is prioritizing in its international roadshows to boost tourist arrivals in the country.

In a press briefing, PAL spokesperson Cielo Villaluna said the airline is “100-percent committed” to sell Cebu in its 26 international destinations, including selected points in its domestic network.

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To jumpstart its intensified tourist promotion campaign, PAL flew in eight candidates of the Miss Earth Pageant to visit and document some of Cebu’s best tourist attractions. The group’s photos and videos will be featured in PAL’s promo materials for distribution abroad, particularly the United States, Canada and Asia.

PAL flies eight times daily between Manila and Cebu using mostly wide-body jets like the Boeing 777ER, B747-400 and the Airbus A330. The flag carrier also flies directly from Cebu to Narita, Japan six times weekly and thrice a week to Incheon, South Korea.

Effective Dec. 2, flights to Incheon will double to six times weekly.

“Cebu continues to enjoy positive load factors despite the recent tsunami in Japan and other natural calamities. In fact, even during the height of PAL’s spin off/outsourcing program, flights to Cebu were largely unaffected with load factors of more than 80 percent,” said Glenn Vallecera, PAL AVP-Visayas Sales.

In coordination with the Department of Tourism, PAL’s intensified tourism promotion campaign comes on the heels of PAL’s restoration of flights and frequencies to pre-outsourcing levels.

Starting Nov. 24, all PAL flights depart from and arrive at its exclusive hub at the Ninoy Aquino International Airport Terminal 2. Prior to Oct. 1, the effectivity date of PAL’s outsourcing program, some flights were temporarily housed at NAIA Terminal 3 to decongest the Centennial Terminal.

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PAL also resumed full in-flight meal service after a brief interruption caused by the transition to third party service providers and the protest camp of former PAL workers at the airline’s Inflight Center in Pasay City. (PR)

Published in the Sun.Star Cebu newspaper on November 28, 2011.

Saturday, November 26, 2011

Solar power ‘best for Cebu’

By Mia A. Aznar

Thursday, November 24, 2011

WITH the right kind of technology, experts in the field of solar power believe this is the best way to meet the power demands of a growing city like Cebu.

Organizers of the Philippine-German Solar Energy Forum said yesterday that solar power is a more feasible alternative to traditional energy sources.

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Seven German companies in different sectors of solar power were in Cebu to meet with local energy stakeholders, hoping to introduce new ways to make solar power available at a lower cost.

Cebu Chamber of Commerce and Industry vice president for finance Prudencio Gesta, who opened the forum, said solar power is considered a viable source of energy for a sunny country like the Philippines.

Dependent

Despite Cebu being an “economic powerhouse” in Central Visayas, Gesta lamented that it is too dependent on its neighbors when it comes to energy sources and that the energy mix is not diverse enough.

He admitted though that administrative and legal issues have to be threshed out before solar power can be provided.

Volker Steigerwald, German Development Cooperation (Giz) manager for private sector promotion, said climate change is not the only reason he is convinced it is “time to go green.”

“It also makes business sense and many in the Philippines are starting to realize this,” he said.

Steigerwald told those present that as a renewable energy source, solar power promotes sustainable development. While some feel developing solar energy is expensive, Steigerwald pointed out that majority of those in Germany’s solar industry are small and medium enterprises.

The forum hoped to introduce local energy stakeholders with German companies that completed the value chain in solar power.

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Challenges

Jan Knaack of the German Solar Industry Association (BSW-Solar), admitted that when Germany first started to develop solar power as a viable source of energy, they faced challenges such as getting the understanding and support of society, political leaders and economic decision makers.

He also assured that with the right technology and expertise, developing solar energy can be inexpensive, showing that most photovoltaic (PV) systems have been installed in rooftops.

The BSW-Solar found that 120,000 jobs were created in Germany at the end of 2010 and that most of these were not directly in the power sector but related to installation.

Suppliers of different technology needed in producing solar energy made different presentations about their products, which included PV technology to catch solar power, PV inverters to transform solar power for on-grid, off-grid and back-up applications, and batteries for storing solar power.

German companies that visited Cebu were Hoppecke, IBC Solar, Inutec Solarzenirom, Schott Solar, SMA and SonnenWerft.

They showed how residential areas, far flung orphan schools and villages and small communities can benefit from solar power.

Knaack added that German technology boasts of top quality materials and that their technology and expertise in the field will be a big help to those who may want to start distributing solar power locally. (With Ruthyl Marie Gadugdug, Naval State University intern)

Published in the Sun.Star Cebu newspaper on November 25, 2011.

Use infra to decongest city centers

By Mia A. Aznar

Friday, November 25, 2011

IF there is anything Rep. Tomas Osmeña (Cebu City, south district) can say about Philippine urban planning, it is that the way things are done here is “flawed”.

Speaking before members of the Philippine Association of Realtors Board-Cebu Realtors Board (Pareb-Cereb) during their general membership meeting and induction of newly elected officers Thursday night, Osmeña said the key to urban planning was not to rely on textbooks printed in other countries but in understanding a city.

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Osmeña noted that the country’s planners are reactive when it comes to designing infrastructure. “That is a mistake.”

He believes the country should start building roads leading away from the city and going to places that lack these infrastructure or else existing city centers will become congested.

He lamented that 80 percent of the national funds are concentrated on projects for Manila while the countryside remains neglected.

He explained that when he first suggested putting up a road in the south, he was told it was not necessary because “nobody goes to the south.”

But today, with a big road leading to the south, Osmeña pointed out that more people are moving to the south.

“My model of urban design is not reactive,” he told the realtors. “When you plan a city, you can’t get a textbook printed in Canada or the United Kingdom and implement it here. You have to understand the nuances of the local population, and that is not in the textbook.”

He also defended the plan to put up flyovers, saying it eases the flow of traffic because vehicles do not have to stop for crossing pedestrians or stopping public utility vehicles.

Osmeña added that the bridge in the first part of the South Coastal Road is actually a flyover, except that it is on water.

“Imagine if you just widen the road to Talisay instead of that flyover in the sea. I guarantee, you will not reach Talisay in 10 to 15 minutes,” he said.

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He also cited the widening project of Escario St. from the corner of Gorordo Ave. to the Archbishop Reyes Ave., saying it has taken the government so many years to complete a small stretch of road.

“Even if you have billions of pesos, it takes forever,” he said.

Aside from speaking at the event, Osmeña also swore in the incoming officers and directors, who will begin their terms next year.

The new officers include incoming president Richard Azares, first vice president Ma. Corazon dela Fuente, second vice president Ma. Lucylyn Whysall, secretary Eva Miñoza, treasurer Fiona Leona Charisma King, auditor Ramil Granada and PRO Charles Florante Lee. The organization’s new directors are Ricky Apdan, Jocelyn Jamero, Richard Ray King, Samuel Lao, Regidor Manaloto, Christine Sarmiento, Arnita Ruiz and Leticia Tauto-an.

Published in the Sun.Star Cebu newspaper on November 26, 2011.

Solinea - City Resort Living


How would you like to live in a Resort Living?
Yes, a Resort Living at the Heart of Ayala Business Park, Cebu City.

Property developer Ayala Land Inc. (ALI) launch Solinea, the first multi-tower development soon to rise at the Cebu Business Park (CBP) under the Alveo Brand.

ALI and CHI will be investing over P10 billion in new developments in Cebu over the next five years. This is in addition to the over P10 billion it already invested in the last 22 years, Aquino said.

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According to Alveo Land, Solinea is the firm’s first multi-tower development in Cebu City, master-planned and envisioned to offer city resort living—“a balanced lifestyle merging the vibrant pace of the city and the relaxing ambience of a resort-inspired environment.”

Jennylle Tupaz, project development head for Alveo Land, said Solinea is initially planned to be a five-tower development on a 2.6-hectare property at CBP.

The first phase of the development is a 29-storey tower with 591 units.

Tupaz said total investment cost for Tower 1 is estimated at P1.8 billion, while its estimated sales value is at P2.4 billion.

The Tower 1 will offer studio units (25-31 square meters) at P2.5 million; one-bedroom units (34-39 sq.m.) at P4.2 million; and two-bedroom units (50-63 sq.m.) at P5.3 million. Solinea will also offer two special units: garden flats and urban flats.

Solinea - City Resort Living, click here

Tower 1 will also have five levels dedicated for podium parking.

Tupaz said construction of the project will begin early next year. Alveo hopes to turn over Tower 1 by the fourth quarter of 2016. For more information about the Project, contact 0917.3236123 | 09228236123.



ALI launches multi-tower Solinea


By Katlene O. Cacho

Friday, November 25, 2011

PROPERTY developer Ayala Land Inc. (ALI) on Thursday officially launched Solinea, the first multi-tower development soon to rise at the Cebu Business Park (CBP) under the Alveo brand.

ALI president and chairman of Cebu Holdings Inc. (CHI) Antonino Aquino said the project is expected to introduce a new landmark in Cebu, in addition to a couple more residential and commercial developments at CBP today.

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Aquino said Solinea is another testament to ALI’s confidence in Cebu’s thriving local economy. The company expects the demand for residential projects in Cebu to continue to surge, given the booming tourism and business process outsourcing markets.

He also pointed out that the local property market is poised to strengthen further due to the low-interest environment. Low interest rates offered by banks have driven investors to develop residential projects since end-users can more likely acquire the units.

ALI and CHI will be investing over P10 billion in new developments in Cebu over the next five years. This is in addition to the over P10 billion it already invested in the last 22 years, Aquino said.

According to Alveo Land, Solinea is the firm’s first multi-tower development in Cebu City, master-planned and envisioned to offer city resort living—“a balanced lifestyle merging the vibrant pace of the city and the relaxing ambience of a resort-inspired environment.”

Alveo Land is the middle-income unit of ALI and is the developer of Two Serendra at the Bonifacio Global City in Taguig.

Jennylle Tupaz, project development head for Alveo Land, said Solinea is initially planned to be a five-tower development on a 2.6-hectare property at CBP.

The first phase of the development is a 29-storey tower with 591 units.

Tupaz said total investment cost for Tower 1 is estimated at P1.8 billion, while its estimated sales value is at P2.4 billion.

The Tower 1 will offer studio units (25-31 square meters) at P2.5 million; one-bedroom units (34-39 sq.m.) at P4.2 million; and two-bedroom units (50-63 sq.m.) at P5.3 million. Solinea will also offer two special units: garden flats and urban flats.

Tower 1 will also have five levels dedicated for podium parking.

Learn what's new in CEBU NOW, click here

Tupaz said construction of the project will begin early next year. Alveo hopes to turn over Tower 1 by the fourth quarter of 2016.

Tupaz described Solinea as a resort-residential lifestyle set in a thriving urban enclave. The development will have lush landscapes, and manicured pocket garden and open spaces.

Among its exclusive amenities are a swimming pool, central clubhouse with a gym, function and game rooms, and retail and dining areas.

The Solinea project is a joint venture of Alveo Land and CHI.

Alveo’s first entry in the Visayas-Mindanao market is its flagship project Sedona Parc, a 21-storey residential condominium project with 114 units, also located at the CBP. Sedona Parc is already 70 percent sold out. For more information, contact us at 0917.3236123 | 0918.8236123.

Published in the Sun.Star Cebu newspaper on November 26, 2011.


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