DOT rebids Mactan-Cebu airport consultancy contract

By Lawrence Agcaoili (The Philippine Star) | Updated September 28, 2014 

MANILA, Philippines - The Department of Transportation and Communications (DOTC) is set to rebid the contract for independent consultancy services for the P17.5-billion Mactan - Cebu international airport expansion project.

The DOTC said it is tapping an independent consultant for the Public Private Partnership (PPP) project that was awarded to the tandem of Megawide Construction Corp. and Bangalore-based GMR Group after a failed bidding a few months ago.

However, the approved budget for the contract is now P115.1 million compared to the earlier budget of P122.6 million under the first bidding.

 “The DOTC is in need of the services of an independent consultant to review the design, construction, commissioning, operation, and maintenance deliverables of the concessionaire under the Public Private Partnership concession agreement,” the agency said.

The DOTC is giving interested bidders until Oct. 8 to submit their eligibility documents, after which the agency’s Bids and Awards Committee would draw up the shortlist of consultants based on a non-discretionary pass or fail criteria.

Criteria for the shortlisting of five bidders include 45 percent for applicable experience, 45 percent for the qualification of key personnel, and 10 percent for current workload.

Michael Arthur Sagcal, DOTC spokesperson, earlier said an independent consultant is essential in all government infrastructure projects.

“It will act as government’s engineer and representative in monitoring the project’s progress and ensuring compliance by the concessionaire with its obligations,” Sagcal said in a text message.

The DOTC issued a Notice of Award to the GMR-Megawide tandem last April 4. The joint venture aims to transform the country’s second busiest airport into the world’s first resort airport.

The DOTC and the Mactan Cebu International Airport Authority (MCIAA) awarded the project to the GMR-Megawide tandem after denying the issues raised by second highest bidder, the Filinvest Group of taipan Andrew Gotianun.

The Megawide-GMR Group submitted the highest bid of P14.404 billion for the project followed by the Filinvest – CAI consortium with P13.999 billion, and Premier Airport Group of the SM Group of retail magnate Henry Sy with P12.5 billion.

Other groups that submitted bids include the MPIC-JGS Airport consortium of  MPIC and JG Summit Holdings (P11.23 billion); AAA Airport Partners led by the Ayala Group and Cebu-based Aboitiz Land (P11.088 billion); the San Miguel Corp.-Incheon Airport consortium (P9.05 billion); and the Lopez Group’s First Philippine Airports (P4.7 billion).

The PPP project intends to modernize the country’s second-largest aviation hub with the construction of a new world-class international passenger terminal building with an annual capacity of eight million passengers and at the same time expand the existing terminal building with a capacity of 4.5 million and has been operating at over-capacity with 6.7 million passengers since 2012.

Crimson Resort and Spa set to open in Boracay

Crimson Resort and Spa Mactan in Cebu

Manila-based real estate firm Filinvest recently announced the development of its latest Crimson Hotel-branded resort property in one of the most preferred beach locations in the world, Boracay.

The project will be the third Crimson property in the Philippines, after the success of Crimson Resort and Spa Mactan, which opened in Cebu in 2010, and Crimson Hotel Filinvest City in Metro Manila, which started operations in 2012.

“Crimson Resort and Spa Boracay will be giving local and international tourists a new expression of laid back luxury in Boracay,” the developers told Philippines Property Awards media partner ABS-CBN.

At the groundbreaking ceremony held early this month, developers revealed that the new property will feature an undisclosed “iconic” restaurant and four other dining options, four main swimming pools, 23 villa pools, a children’s club, and sports and health facilities.

The 192-unit five-star resort property, located in Baranggay Yapak, Boracay, is scheduled to open in late 2017.

Image credit: ABS-CBN and Crimson Hotels and Resorts

- See more at: http://www.property-report.com/crimson-resort-and-spa-set-to-open-in-boracay-34467#sthash.aunWSXYF.dpuf

Megaworld pushes new integrated resort developments

Boracay Newcoast

One of the Philippines’ largest master developers, Megaworld Corp, has unveiled its foray in the tourism sector via its integrated resort developments across the country.

The firm, which is celebrating its silver anniversary in real estate, is expanding its portfolio through its newly acquired, majority-owned subsidiary Global-Estate Resorts Inc (GERI), owner of some 3,000 hectares of prime land properties in the archipelago.

“Megaworld’s acquisition of GERI signals our official entry to the country’s tourism industry. We will be bringing the 25-year expertise of Megaworld in mixed-use developments which we call ‘townships’ to the projects of GERI,” Megaworld chairman and CEO Dr. Andrew L. Tan told local media.

To date, Tan’s property empire—comprising GERI, mid- to high-end range developer Empire East Land Holdings Inc, and low-cost developer Suntrust Properties Inc—has about 5.4 million sqm of residential, office and hotel developments underway, business publication PH Stocks reported.

Among the company’s upcoming projects include the European-inspired Twin Lakes, a 1,149-hectare township in Tagaytay overlooking Taal Lake. It comprises themed residences, luxury condominiums, hotels, a retirement community, schools, commercial and retail hubs, and recreational facilities.

GERI is also developing the 150-hectare Boracay Newcoast project, which will feature four international hotels, a commercial district similar to Ibiza and a residential village comprising luxury condos and villas. Newcoast is adjacent to the 18-hole Fairways & Bluewater, Boracay’s first and only golf complex designed by Graham Marsh.

According to estimates reported by the Philippine Star, the integrated community is set to attract 350,000 Boracay tourists annually. It will benefit from the ongoing expansion project of the Caticlan Airport in Kalibo.

The firm is also building the 561-hectare Southwoods City in southern Luzon, featuring residential, retail and commercial components surrounded by a golf course. The new township is being positioned to become the region’s premier central business district, catering to the provinces of Cavite and Laguna.

“Megaworld will take an active role in the masterplanning and conceptualisation of these townships. Just as what we have done for Megaworld projects, we will also incorporate our pioneering LIVE-WORK-PLAY-LEARN concepts and international inspirations into these developments with special focus on tourism,” said Jericho P. Go, senior vice president at Megaworld.

Tan, who heads Megaworld’s parent company Alliance Global Group, was recently chosen by the editors of Property Report as Real Estate Personality of the Year at the upcoming Philippines Property Awards 2014. For Project Inquiry, contact +63917-3236123.

Image credit: Philippine Star

- See more at: http://www.property-report.com/megaworld-pushes-new-integrated-resort-developments-35312#sthash.FWXWgdx6.dpuf

Philippines’ Real Estate Personality of the Year 2014 announced

Filipino-Chinese tycoon Andrew L. Tan, the third richest man in the Philippines and head of the Alliance Global Group, has been selected by the editors of Property Report as winner of the prestigious Real Estate Personality of the Year award at the second annual Philippines Property Awards.

A self-made billionaire, the 61-year-old Tan has an estimated personal fortune of USD5 billion, with various business interests in retail investment and in real estate.

His flagship urban development firm Megaworld Corporation, where he is chairman and chief executive officer, was consolidated earlier this year to own more than 3,900 hectares of prime land properties in the Philippines and is now celebrating its milestone 25 years in the real estate industry with the announcement of a five-year expansion plan valued at PHP230 billion (USD5.23 billion).

“Even in Asia’s fastest growing property market, Megaworld’s expansion in the last year has stood out and been particularly impressive,” says Terry Blackburn, CEO of Ensign Media and publisher of Property Report. “The driving force behind this is Dr. Tan and he has proven himself time and time again to be one of South East Asia’s most astute and forward thinking businessmen who has created a property empire to stand alongside his other business interests and make himself one of the dominant figures in the Philippines business community.”

Tan’s property empire comprises residential, office, commercial, retail and hotel projects, including the country’s premier township Eastwood City Cyberpark in Metro Manila, the upcoming Mactan Newtown project in Lapu-Lapu City, Cebu, and the Davao Park District project in Lanang, Davao City, his group’s first township in Mindanao that is being positioned to become the city’s premier central business district. For our Project Inquiry, contact +63917-3236123.

The presentation of his award will take place at the Philippines Property Awards 2014 exclusive gala dinner at the Raffles & Fairmont Makati on 29 July 2014.

- See more at: http://www.property-report.com/philippines-real-estate-personality-of-the-year-2014-announced-35280#sthash.are1vDjS.dpuf

All play

BY BECKY ELLIS 

Condos and serviced residences are making fun a priority

 

It used to be that you sent the kids outside to play, ambling from house to house with other kids from the neighbourhood or romping about the yard. These days, with more and more extensive recreation options being integrated into condo developments—or residences to being attached to existing recreation areas—you can send them to the water park or the amusement park or the bird sanctuary and butterfly garden. And the kids can send the parents to the golf course.

With a steady wave of new condos vying for buyers’ attention, some items that used to be considered premium amenities have become de rigueur. Fitness centres and swimming pools are now expected, and property developers are upping the ante.

On course

Residences attached to golf courses aren’t new, but they’re becoming more popular in Asia as more people in the region take up the sport.

“The game as a whole is experiencing a significant upswing in popularity, allied with the region’s economic boom and the rise of the middle classes,” said Giles Morgan, HSBC’s group head of sponsorship and events, in the 2012 publication Golf’s 2020 Vision: The HSBC Report.

Sime Darby has taken note, and in 2012 it launched East Residence, a collection of landed courtyard homes within the award-winning Kuala Lumpur Golf & Country Club (KLGCC) in Bukit Kiara. Homes in the gated community overlook the 12th fairway, and include KLGCC membership (normally billed at MYR250,000, or USD76,652). A few minutes’ walk away is the Bukit Kiara Equestrian & Country Resort as well as Juara Stadium.

Back to nature

Land & General Berhard took a different approach with Damansara Foresta. Instead of focusing on sports or amusements, it’s creating a 21-acre nature playground, including a bird sanctuary, butterfly garden, botanical garden, herb and fruit orchard and tree houses. Located in Bandar Sri Damansara next to the Bukit Lanjan forest reserve, the first block of 130 to 148 sqm condominiums and 279 sqm penthouses was launched in January 2012, with phase two launching in 2014. Campsites, jungle trekking and a hammock garden are also in the offing.

L&G’s plan is to give residents the opportunity to live in the middle of nature without giving up modern conveniences and luxuries..

Some were initially concerned about the location of the project, which sits on a highland 180 m above sea level, but managing director Low Gay Teck says the company has taken abundant precautions, including putting in slope protection measures.

City within a city

In an 800-acre “city within a city” in Petaling Jaya, the Sunway Resort Hotel & Spa has more than 1,200 hotel rooms, villas and serviced residences—including 12 long-stay serviced townhouses. But more than offering both short- and long-term residents places to lay their heads, the Sunway Resort Hotel & Spa is attached to Sunway Lagoon, with its five themed parks (Water Park, Amusement Park, Extreme Park, Wildlife Park and Scream Park); a manmade surf beach, dance club and spa; and medical centre, schools and businesses.

Unlike many other serviced residences, however, investors buy into the property through the Sunway REIT, or real estate investment trust, which allows them to purchase shares in a portfolio of properties. This is more akin to owning shares in mutual fund than owning property outright.

Kuala Lumpur isn’t the only city in Malaysia where developers are building creative amenities into residential communities. Across the country, new condo developments are coming with increasingly elaborate recreational facilities, and many involve water. Here are just a few.

Paragon Residences, Johor Bahru

This two-tower freehold development is located in Iskandar’s Flagship Zone A, and residences have between two and five bedrooms. In addition to facilities like a putting green, tennis courts, maze garden, health garden, karaoke room and yoga pavilion, Paragon Residences incorporates an adventure water park. The project is

a joint venture between Singapore ACG Group of Companies and Malaysia’s Joland Group, and will be completed in 2015.

Desa Idaman Residences, Puchong

Desa Idaman Residences in Puchong is a gated community of 540 freehold apartments—all three- bedroom units—spread over 11 blocks. This family- friendly community comes with its own resident-only waterpark, which includes a five-metre lookout tower, adult swimming pool, Jacuzzis, water reflexology path, double-loop water slide, river float ride and a water play area with shower umbrellas and life-sized animal sculptures with watersports.

Andaman at Quayside, Penang

In Penang, E&O’s Andaman at Quayside has a four-and- a-half acre waterpark filled with waterfalls, waterslides, whirlpools, sandy beaches, areas devoted to watersports, plus plunge pools and even water caves. (Andaman at Quayside is also one of our Best resort residences of 2014. See page 67.)

- See more at: http://www.property-report.com/all-play-35717#sthash.6gfEdBzO.dpuf

Exclusive interview: Drive, ace, Trump

The real estate icon’s grand slam approach to winning.

BY RICHARD ALLAN AQUINO

It takes a special brand of determination, intelligence and instinct to carve out a reputation in business that is as successful, prestigious and coveted as Donald Trump. His name does not need any explanation; it outshines even its reputation.

Best known for his triumphs in the real estate world, Trump’s multifaceted interests have over the last four decades taken his empire from casino floors to fairways and branded penthouses to beauty pageants.

The 68-year-old Trump claims that passion for work fuels his drive and since taking over the family business in 1971, he’s not once slacked off. “I don’t take formal vacations. I don’t find them relaxing.”

Indeed, Trump is keen to regularly reassure the world that he does not believe in wasting energy or opportunities. “I love my work, so I am energised by that and it’s very rewarding. I’m not one for sitting around.”

Initially headquartered in a studio apartment in Brooklyn, New York City in the early 1970s, The Trump Organization, formerly called Elizabeth Trump & Son, experienced mixed fortunes in its early years. By the early 1990s, Trump—whose private life by this point was regularly publicised in the press—was on the brink of personal bankruptcy, and divorce with his first wife quickly followed.

But nowadays, his Manhattan-based conglomerate is an instantly recognised fixture in almost every corner of the globe, including Asia, where he has a number of high-profile projects underway.

Highly anticipated projects in Asia that bear the Trump brand include the mixed-use Trump Tower Century City in Manila, Trump Towers Pune in India, and the ultra luxury residential development Trump Estates in Dubai. This recent commitment to Asian markets has enabled him to work with a handful of leading local firms.

“[My team and I] very much enjoy collaborating with local firms,” he admits. “It’s a big help when developing in a different culture, and we’ve developed good partners along the way as well. It’s a win-win situation.”

His venture in the Philippines is a collaboration with one of the country’s top luxury developers, Century Properties Group, while his Dubai branded residences are co-developed by DAMAC, which is one of the biggest master developers in the Middle East.

An association with the Trump name is golden. “I think the Trump brand connotes the gold standard and people know what to expect,” Trump proudly states. “They expect the best, and that’s what they will get—the name doesn’t need an explanation or a ratings chart.”  

The “Trump effect” is definitely one of the selling points of his well-honed brand, and probably what makes every Trump project iconic, even if he is no longer largely associated with it. One such example is Trump Entertainment Resorts, formerly Trump Hotels & Casino Resorts, a company that he founded in 1995 and subsequently lost majority control due to major financial difficulties—he still owns a minority share but has since left the board.

Trump’s brazen, straightforward approach may be disliked by detractors, but he contends that his profession requires him to be frank, outspoken and extremely self-critical.

“I am my own best and worst customer—I am hard to please and pleased when I am. That’s a great yardstick. I am demanding but it pays off—[my] employees are proud and the visitors [in my properties] are happy.”

Trump continues to hone his skills, one of which, he contends, is knowing when to trust a gut feeling. Upon hiring world-renowned golf course architect Gil Hanse—who was named Golf Magazine’s Golf Course Architect of the Year in 2009—to design the USD250 million restoration and expansion project of the five-course Trump National Golf Club in Doral, Florida, he says his instincts confirmed that his appointed designer would not end up like an unsuccessful contestant on his popular reality television show The Apprentice.

“A lot of the time it is instinct. I know the style of each of the architects and something in the course will indicate a certain technique required to make it superlative. I work with the best architects and the results have been terrific,” he says. Just recently, he announced that he is working again with another highly respected golf architect, Martin Ebert of the firm Mackenzie & Ebert, to renovate his latest luxury golf resort and hotel property, Trump Turnberry in Scotland.

An avid golfer with a low single-figure handicap, Trump discovered his love for the sport early in life. “It began when I was young, and I visited the Doral in Florida with my family. I’ve always loved that resort. I played other courses, and the game intrigued me. I knew it was a brain game, for one thing. The beauty of the course was another factor.”

“I remember my first course, Trump International in Palm Beach,” he continues. “It was a tremendous undertaking and I was involved in all the details, from the gopher tortoises on up.”

Today, Trump’s golf portfolio comprises 17 award-winning courses around the world, all of which, he states, are equally important to his business. But he refuses to be drawn on his favourite property.

“It is very difficult to pick a favourite—each one is truly special,” he admits. “But right now my latest acquisitions in Ireland and Scotland have my utmost attention.”

Being part Scottish, it was very significant for The Donald—as he is affectionately known—to establish Trump golf courses in Scotland, where his mother Mary Anne (née MacLeod) was born. His Scottish heritage definitely is a huge part of him, so he’s made sure that his course in Aberdeen would reflect his devotion to the location and his responsibility to its surroundings.

“We are very sensitive about this issue,” he says, referring to environmental concerns that plague many golf resorts worldwide. “We had geomorphologists working for us at Trump International Golf Links, Scotland in Aberdeen to make sure the sand dunes would be protected and undisturbed, We had three artificial holts for otters created and a badger protection plan. We erected nest boxes and bat boxes, had biodiversity target actions to maintain and enhance a variety of birds such as the Palmate Newt, Black-Headed Gulls and wading birds. The list goes on. We are very thorough which each course in this respect.”

He is now optimistic that the vision for a ‘Trump Triangle’ golf circuit across Scotland and Ireland can finally be realised after the recent acquisition of the historic Turnberry course and the Doonbeg property in Clare, Ireland. “I can see how real golf aficionados would love to play Aberdeen, Turnberry and Doonbeg—that’s a dream ticket right there. So we’ll see.”

One might think that owning a slew of high-profile properties would allow him to slow down, take a day off and listen to the music of one of his favourite musicians, Neil Young, but he simply prefers to work during his personal time.

“I love to golf, and since I now have 17 courses, that’s a lot of opportunity for golfing. I can also refine the courses as I go along, so it’s never lost time. That’s one way I relax,” he says.

Though he’s witnessed spectacular success in his life, Trump has also experienced some very public obstacles and setbacks along the way, including dealing with detractors and financial troubles. But those challenges only strengthened his spirit to bounce back because, as he puts it, “Winners see problems as just another way to prove themselves.”

His advice to aspiring entrepreneurs who are having a difficult time making it in the business?

“If you haven’t got any problems then you must not be running your own business. Problems and challenges come with the territory, so be prepared for them. They are the norm, not the exception,” Trump says.

–

Trump on the definition of a luxury property… “A true luxury property must delight from A to Z. There can be no gaps or missteps in any part of the service or property. We aim for perfection in as much as that is possible.”

Trump on the real estate industry… “Nothing is easy. If you are in the property business, just make sure you know everything you can about what you’re doing.”

Trump on his organisation’s formula for victory… “We are open minded and enthusiastic—the best ingredients for success.”

- See more at: http://www.property-report.com/exclusive-interview-drive-ace-trump-35894#sthash.BfRiPFkB.dpuf

Andrew Tan’s firm announces 2018 opening of Manila Bay casino resort

Pagcor’s Entertainment City

Resorts World Bayshore, a joint project of billionaire Andrew Tan’s Alliance Global Group Inc (AGI) and Malaysian-owned Genting Hong Kong Ltd, announced that it would formally open in 2018, after a two-year delay.

Phase 1 of the USD1.1 billion complex, which is being developed by Resorts World Bayshore City Inc, a unit of Travellers International Hotel Group, the AGI-Genting joint venture that also developed the successful Resorts World Manila, was initially slated for a 2016 opening.

Kingson Sian, AGI president, told local media that the 31-hectare property inside the state-owned Philippine Amusement and Gaming Corporation (PAGCOR)’s Entertainment City at Manila Bay was only recently turned over to the developers, causing the setback.

The urban lifestyle resort, which will comprise three luxury hotels with gaming facilities, a retail complex, a theatre, and a casino, will begin construction in Q4 2014, local news agency Rappler.com reported.

Bayshore will be competing with three other mega-casino developments in Entertainment City: Bloomberry Resort’s 16-hectare Solaire Resorts and Casino, which opened in 2013; Melco Crown Philippines’ City of Dream Manila, opening at the end of 2014; and the Japanese-owned Manila Bay Resorts, set to open in 2015. For our Project Inquiry, call +63917-3236123.

AGI chairman Tan, who was recently named the Philippines’ Real Estate Personality of the Year, also reportedly signed a partnership via his Empire East Land Holdings unit with Japanese property tycoon Kazuo Okada to build a 12.95-hectare luxury residential complex within PAGCOR’s Entertainment City grounds.

- See more at: http://www.property-report.com/andrew-tans-firm-announces-2018-opening-of-manila-bay-casino-resort-36367#sthash.91OlztSx.dpuf

A home in one

BY LIAM ARAN BARNES

Golf communities are back in vogue as the sport takes Asia by storm.

Anvaya Cove Sea Breeze Verandas

More than most sports, golf is considered a lifestyle choice and many aficionados, given the chance, would tee off on a daily basis. When Southeast Asia-based expatriate Paul Temple decided last year to go into semi-retirement, he chose to do just that.

“I’m an avid golfer so I wanted to find a property in a place where I could play all day and also spend more time relaxing and writing,” explains the 58-year-old Canadian.

After viewing properties in China, Indonesia, Thailand and Malaysia, Temple eventually opted to purchase a PHP15 million (USD343,000) condominium unit at Anvaya Cove, a mixed-use golf and leisure community located near the Philippines’ Subic Bay.

Developed by Ayala Land Premier, the luxury residential wing of the country’s largest property developer, the 470-hectare project comprises a Golfplan-designed 18-hole golf course, as well as residential components divided into nine “neighbourhoods”, with some plots overlooking the course. According to Jose Juan Jugo, head of Ayala Land Premier, Anvaya Cove, which launched a decade ago, has started to attract foreign buyers since the course opened last year.

“The golf club has really put the icing on the cake,” he says. “We anticipate further interest in this sort of investment from what we see as a global market.” Jugo adds that investment opportunities are available to foreigners and the club also runs a condominium leasing programme that allows owners to make, on average, PHP3,500 (USD80) per night.

The growing popularity of residential golf course communities is not new to the region, although talk of investment schemes and timeshares does bring back memories of the niche market’s murky past in Southeast Asia. Certain projects, especially in Thailand, which has long been the region’s premier golf destination, became renowned for their shady investment schemes, ownership issues and the occasional bankruptcy.

A famous case is the rise and demise—and possible rise again—of Phuket’s Blue Canyon Country Club. Once one of Asia’s most celebrated courses—it twice hosted tournament and gained praise from golf legends such as Tiger Woods and Greg Norman—the club has spent the past decade stumbling from one calamity to the next. The owner, Murex, went bust in 2004, lawsuits were filed and court cases have rumbled on for the past nine years. After a recent acquisition by local firm Ocean Group, however, things may be looking up.

“Compared to mature markets, like the US, where multi-million-dollar golf properties are the norm and speciality markets are established, buyers haven’t embraced golf enough to live in these often secluded estates,” says asset management and hospitality consultant Bill Barnett. “In Southeast Asia, the golf property market has been something of a basket case.”

He adds, however, that many of the less-desirable courses fell to the wayside after the ’97 Asian financial crisis and the new breed of golf communities, developed by property heavyweights, are banking on brand loyalty and additional luxuries.

Black Mountain

Indeed, in an effort to drive investment from the wider market, many in the latest wave of courses and clubhouses, like Anvaya Cove, are being integrated into larger master-planned communities and offer residents lifestyle amenities including beach clubs, adventure facilities and retail outlets. Some of the region’s leading high-end developers are also teaming up with global brands, namely Indochina Land’s collaboration with Colin Montgomerie on Danang-based property Montgomerie Links Vietnam and the DAMAC partnership with Trump Golf. The Middle East’s largest developer’s latest master development, AKOYA by DAMAC, set to comprise 7,000 residential units, will feature the first Trump-branded golf course in Asia.

Whilst Trump International Golf Course, Dubai is the company’s initial foray into Asia’s golf market, Donald Trump, president of The Trump Organization, is confident that the brand will expand its presence as the sport continues to take off around the region.

“There is tremendous potential in Asia. It’s amazing, in fact,” he says. “I think it helps to see the world as an emerging market—there are so many locations that are terrific and for many reasons I’m optimistic when it comes to expanding because we’ve experienced tremendous success.”

But a big-name collaboration is not the only recipe for success. Some smaller, yet highly reputable courses with residential components have also benefitted front the resurgent demand for golf real estate. The Thai coastal resort of Hua Hin and surrounding area is home to more than 20 courses, including the golf communities of Black Mountain and Palm Hills, both of which recently witnessed a surge in investment.

A British investor and founder of a Hua Hin-based boutique developer, who doesn’t wish to be named, purchased his first property at Palm Hills in 2002. He has since bought an additional 12 plots within the community on which he’s built three- and four-bedroom villas. During the 12-year period, the Hua Hin resident of 30 years claims land prices have significantly  increased.

“Hua Hin, which has grown into one of the country’s leading golfing destinations, is an extremely active market and golf properties are selling each and every week,” he says. “When I started buying plots and developing properties, I was paying about THB3 million (USD924,000) for 1.5 rai (2,400 sqm). Nowadays the same plots are going for more than THB7 million (USD215,650).”

The investor adds that overseas buyers, many of whom use the properties as holiday homes, have had a positive impact on the local market. Furthermore, the International Association of Golf Tour Operators notes that golf tourists spend an estimated 120 percent more than average tourists and regularly purchase second homes in favoured destinations.

Montgomerie Links Vietnam

Luxury residential real estate agent Sotheby’s, which for some time has focused on global golf property, last year launched a dedicated branch to handle the specialised market. The agent oversees some of the region’s top golf course communities, including Montgomerie Links Vietnam and Blue Canyon Country Club.

Sotheby’s Vietnam-based associate director Christopher Piro agrees that whilst tourism has played a major role in the market’s renaissance, the most significant factor is the increasing affluence of regional investors from the countries such as Hong Kong, Singapore and Australia.

“Rising salaries amongst Asia’s middle-classes has had a pretty significant impact on the market and they are looking especially for property priced around the USD500,000 mark,” he explains. “This price level attracts, for example, directors from banks and other financial institutions, who are maybe making their second or third overseas investment and see golf property as an attractive alternative to more expensive real estate, with the added bonus of lifestyle amenities.”

Golf and leisure communities, both boutique and branded, will undoubtedly continue to emerge around the region to cater not only to the changing tastes of the region’ rapidly increasing middle class and the influx of  international golf tourists, but to accommodate the future hub of the sport.

As HSBC’s recent report Golf’s 2020 Vision notes: “It seems only a matter of time before the centre of gravity in the game moves to Asia. Just as the popularity of cricket in India means that the sub-continent has become the economic and political centre of the sport, so we expect to see the centre of the professional golf game move towards Asia.”

ON-COURSE INVESTMENTS

VIETNAM
Montgomerie Links by Indochina Land

Rank:

No. 2 in Vietnam

The course:

Designed by golf legend Colin Montgomerie, the 18-hole par-72 course opened in 2009 and has since held a number of major tournaments such as the Asia Pacific Senior Amateur Golf Championship, APGC Senior Golf Championship and a number of corporate tournaments by the likes of BMW and Johnnie Walker. In its short history it has also picked up awards including ‘Best Golf Course in Vietnam’ at the Asia Pacific Property Awards 2010 and was voted ‘One of Asia’s Top Ten Elite Courses’ by Forbes Travel in 2012.

The residences:

Construction of The Estates at Montgomerie Links, which is located in the heart of the course, is due to be completed within the next two years. The 66 pool villas range in size from 240 sqm two-storey properties to 486 sqm three-storey homes that feature a lap pool, hot tub and two master bedrooms. Prices start from USD500,000.

The benefits:

Montgomerie Links is the only golf community in the country that offers a rental programme to overseas investors. The scheme allows owners to use the property for 90 days and lease it out for the remainder of the year through the community’s in-house operations team. Returns during the initial phase are estimated to be between one to two percent and all property owners receive a complementary Family Golf Membership.

“This is an exciting area, Vietnam, especially this particular region, Central Coast, the historical nature of it and what we can do here… To find a course site like this these days is very rare.” —Collin Montgomerie, eight-time winner of the European Tour Order of Merit and course designer.

MALAYSIA
Kuala Lumpur Golf & Country Club by Sime Darby

Rank:

No. 1 in Malaysia

The course:

The club features two 18-hole courses—the international championship par 72 and wetlands-themed par 71 East Course—both of which have hosted established local tournaments, namely the Maybank Malaysian Open and Sime Darby LPGA. The club has also received several awards including Asian Golf Monthly’s ‘Best Golf Course in Asia Pacific’ for two consecutive years and was rated the fifth best course in the world by European Tour’s green-keeping consultant Eddie Addams.

The residences:

Located close to the fairway on the East Course, KLCC’s East Residence comprises a total of 118 units set across four- and five-storey condo buildings. Each property been designed with a staggered courtyard and open plan interior to capitalise on the views of the course. Prices start from about USD2,863 per sqm.

The benefits:

Certain packages offer investors free Legal Fee for Sale & Purchase Agreement and free stamp duty on memorandum of transfer and loan documents. Ownership also comes with a complimentary golf membership and access to KLCC’s other sports and recreation amenities, as well as facilities at the Residents’ Club.

“Kuala Lumpur Golf & Country Club continues to be the standard bear and a great advertisement for Malaysian golf. The design, construction and maintenance of both the West and East Courses are absolutely world-class.” —Jonathan Ponniah, managing editor of ParGolf Magazine.

THAILAND
Black Mountain Hua Hin

Rank: 

No. 3 in Thailand

The course:

Since its launch in 2007, the 18-hole par-72 championship course has twice hosted Asian PGA events, in addition to the 2014 King’s Cup. It is consistently voted the best course in Thailand and has picked up awards including ‘Best Course in Asia Pacific’ and made it onto Golf Digest’s 2013 list of ‘Best 100 Courses Outside the United States’. Designed bychallenging nine-hole par-3 course.

The residences:

Situated at the foothills of the surrounding valleys in front of the par-3 course, the residential component includes 15 course-side villas, 70 condominium units and 10 pool villas, with more currently under construction near the ninth hole. The pool villas range in size from three-bedroom 136 sqm units to 155 sqm sqm two-bedroom properties, whilst the condos vary from 142 sqm to the 182 sqm penthouses. Land plots are also available for purchase. Prices start from THB6.9 million (USD213,000) for the condo units, while the course- side villas can fetch up to THB39 million (USD1.2 million).

The benefits:

Each investment option, as well as the land plots that are available for purchase, come with a lifetime membership to the club. Other amenities at Black Mountain include a water and wakeboard park, tennis courts, spa and gym, and a fine dining restaurant. Although investors, under Thai law, cannot strategy allows buyers to become shareholders in the holding company Black Mountain Hua Hin Co.

“Black Mountain is one of my favourite courses. This gold course is simply incredible, presented immaculately all year round and is truly a great test of golf.” —Thongchai Jaidee, professional Thai golfer and world number 37

PHILIPPINES
Anvaya Cove by Ayala Land Premier

Rank:

To be determined

The course:

Designed by Golfplan’s world-renowned course architect Kevin Ramsey, the 18-hole par-72 course launched last year and is the centrepiece of the 470-hectare leisure community. It garnered a great deal of interest from local and international players and is expected to start hosting major regional tournaments within the next 18 months.

The residences:

Anvaya Cove opened more than a decade ago and, upon completion, will feature nine neighbourhoods with a total of 830 units. To date, properties at two neighbourhoods are available: The Seascape Ridge, which is spread out across 4.6 hectares, includes 56 two-storey villas, whilst the 300 units at the recently-completed low-rise condo project Sea Breeze Verandas range from the one-bedroom 63 sqm apartments to three-bedroom 189 sqm penthouses. Prices for units at the Sea Breeze Verandas start from PHP7.59 million (USD173,000), and PHP14.95 million (USD340,780) for the The Seascape Ridge properties.

The benefits:

Investors can take advantage of the leasing programme, known as Golf Shares, that provides an estimated PHP7,000 (US160) rental return per night, although this is split 50-50 with the in-house management team. Besides the Golf and Sports Club, investors will get a membership to the Anvaya Cove Beach and Nature Club.

“Through its diversity the site gave us an opportunity to create a unique golf journey for golfers as well as non-golfers, and although this is a residential project, it does not feel that way as the homes are nestled in to the existing landscape and rarely noticeable.” —Kevin Ramsey, principal at Golfplan and course architect. 

Latest worldwide course rankings by Golf Digest.

- See more at: http://www.property-report.com/a-home-in-one-36137#sthash.Of3KCONH.dpuf

Natural genius

BY RICHARD ALLAN AQUINO

Acclaimed Filipino industrial designer Kenneth Cobonpue’s sanctuary in Cebu is an architectural backdrop for his artistry.

The 45-year-old artist, who was dubbed “rattan’s first virtuoso” in 2007 by TIME because of his ability to create brilliant pieces from natural fibres and materials such as rattan, bamboo and abaca, rose to global fame in the late 1990s with his signature furniture designs and now counts many international celebrities as his clients, including Lucy Liu, Angelina Jolie and Brad Pitt. He regularly travels, but these days he prefers to be based in his hometown.

“I purposely choose to not to own other homes,” he reveals. “It gives me the freedom to explore various boutique hotels, enjoy newly designed spaces, and meet people around the world.”

Designed by Manila-based firm Budji Layug + Royal Pineda Design Architects, his 1,000-sqm, nature-inspired abode in Cebu City in central Philippines serves as an architectural backdrop for his genius craftsmanship and pays tribute to artworks created by other Filipino artists.

This September, Kenneth Cobonpue’s own works are featured in a lifestyle exhibition in Paris organised by French trade show specialists Maison et Objet, the same group that recognised him with the first-ever Asian Designer of the Year award six months ago.

The award-winning Cebuano designer and manufacturer welcomes us into his colourful home to share his beginnings at his mother’s design shop and what inspires him to create his innovative works.

Your home in Cebu is very spacious and soothingly bright. Did you design the interiors?

I designed all the interiors. One of my pieces called the ‘Tilt’ inspired the design style. This is reflected in the tilted roofs, open spaces, sharp corners, and geometrical surfaces. I wanted to make the house as simple as possible in order to bring out the great warmth in the exterior greenery and various furniture pieces, lighting, and accessories. Thus the house serves as an architectural backdrop for [my work].

It is four-and-a-half storeys tall, yet has seven different and alternating levels as a result of both the sloping terrain and the architectural concepts involved. There are six bathrooms, two kitchens, five bedrooms, two living rooms and a garage, which was converted into a music and playroom. The house also has a mini movie theatre, a swimming pool, and a gym to keep my family and household staff busy.

Are you a morning person or a night person?

I’m mostly a day person and I love the colours and vividness of the day. I prefer seeing my Cebu house in the daylight because I can see the view all around it.

My property is located in a hilly, exclusive residential village. The land where the current house stands was originally a sloping and unused empty lot, filled with vegetation. There were three large, overgrown trees spread out across the property, which were integrated into the construction of the house.

What is your favourite area at home?

My favourite part is the poolside, which is the epitome of all the concepts used in the design. It is full of open spaces, comfort and warmth.

Do you enjoy entertaining guests? Do you cook for them?

I enjoy entertaining guests although I only have guests over once a month. I’m always working so I usually don’t cook for my guests. Instead I have someone to cater or my wife Susanne to cook for them.

What inspired you to become an industrial designer?

I’ve always been interested in design since childhood. My mother had a small furniture workshop at the back of her house, which meant craftsmen and creative people always surrounded me. They taught me how to build things with my own hands. My childhood was fun and filled with memories of people who appreciated what I built. My profession today is an extension of my childhood.

Is there a mini-design studio in your house?

It is purely a residential house, although I do use the open spaces and beautiful interiors to draw some of my thoughts and designs.

Where do you get your design ideas and inspirations?

I believe that inspiration does not come to anyone in sudden jolts; instead one has to seek it. What I do is I set aside time to allow inspiration to slowly unravel as I dig into my treasures of memories, old sketches, books and photographs. Through this constant search for inspiration, the mind becomes seasoned to imagine and create, which then gives rise to new ideas.

Most of your designs utilise cutting-edge technology. What is your opinion on the increasingly popular ‘smart homes’?

I think that it’s very exciting to know that technology can help homes become more energy efficient and make people’s life easier.

How do you define a ‘luxury residence’?

A luxury residence is a piece of art. It isn’t something you need but its something you want to indulge in and enjoy.

- See more at: http://www.property-report.com/natural-genius-36217#sthash.kwDtn16b.dpuf

Ayala Land unveils master-planned community in northern Palawan

Real estate conglomerate Ayala Land Inc. has announced that it would be investing PHP6 billion (USD138 million) to establish a mixed-use, integrated, beachfront community in Lio in world-famous El Nido, Palawan.

According to Ayala Land president Bernard Vincent Dy, who held a press briefing last Friday, the new Lio Resort Town will comprise residential, mid-range and luxury hotels, resorts and commercial developments, which will be operated by its Ten Knots Development Corporation unit.

Only a third of the 325-hectare property—which also boasts of a four-kilometre beach stretch—will be developed to maintain the “pristine” nature of the area, Ten Knots president Laurent Lamasuta told the Philippine Daily Inquirer.

Ayala Land entered the El Nido market four years ago via the acquisition of the Ten Knots’ parent company, which had been operating the Lagen and Miniloc island resorts in 2010.  Today, the company offers a total of 192 hotel rooms in El Nido, where they also own the Apulit and the newly built Pangulisan resorts.

“The [El Nido] town is kind of exploding,” added Lamasuta, who noted that there had been a 28 percent in El Nido’s visitor arrivals in the past year.

The new Lio development will include its own airport terminal, jetty and lounge. Ayala Land announced at the media briefing that it would also make sure that the property will be pedestrian-friendly.

Named this year’s Best Developer at the recently concluded second annual Philippines Property Awards 2014, Ayala Land will develop first phase of the prime property over the course of the next five years. The project broke ground in March of this year.

Lio is one of Ayala Land’s current mixed-use community projects outside Manila. In May, the Ayala family-owned firm announced that it would be building a 1,125-hectare township called Alviera in the Pampanga province, featuring high-end to low-cost housing, which aims to replicate the success of its Nuvali development in Santa Rosa, Laguna, a 60-minute drive from Manila.

Property prices are expected to grow by 8 percent this year in the Philippine capital, raising concerns of a potential real estate bubble, according to United Kingdom-based think tank Centre for Economics and Business Research (CEBR), which cited the rising housing costs, low inflation rate and rapid market growth as possible early signs of an overheating market.

“It appears the Central Bank may be struggling to keep up with the situation, having only just constructed an index to measure the level of property prices,” the CEBR report stated, adding that “economies with already high consumption rates, such as the Philippines, take care to avoid artificially raising the standard of living.”

El Nido image credit: John Seaton Callahan / Getty Images

- See more at: http://www.property-report.com/ayala-land-unveils-master-planned-community-in-northern-palawan-36165#sthash.mkiNcgpQ.dpuf