tag:blogger.com,1999:blog-80717987481312843372024-02-20T01:20:46.125-08:00DR. SAMUEL LAO BLOGSITEReal Estate Entrepreneur & Investor
<br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.comBlogger2602125tag:blogger.com,1999:blog-8071798748131284337.post-28441161101377033412016-09-03T07:00:00.000-07:002016-09-03T07:00:10.873-07:00Rent or Sell? What to Do When You Leave Your Home.<br />
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<img alt="Rent or Sell? What to Do When You Leave Your Home." height="179" itemprop="image" itemscope="" itemtype="https://schema.org/ImageObject" rel="share" src="https://assets.entrepreneur.com/content/16x9/822/20151106150639-josh-altman-million-dollar-listing.jpeg" style="background-color: white; border: 0px; box-sizing: border-box; color: #252525; font-family: Lato, arial, sans-serif; font-size: 16px; text-align: start; vertical-align: middle;" width="320" /></div>
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<span style="background-color: white; color: #252525; font-family: Merriweather, Times, sans-serif; font-size: 17px; line-height: 32px;">You've decided to move, but you have a home to consider. Do you sell or rent? While an investment property can generate a nice income over time, you have to figure out if keeping this home is part of your long-term financial plan and if you want that added responsibility.</span></div>
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“There are so many considerations if you’re looking at renting or selling your home,” says Allison Turk, realtor associate at EWM in Miami Beach, “and it comes back to the data.”</div>
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Having a tenant pay your mortgage is a great way to build equity, but home prices may not increase in years to come, which can be a problem once you do sell. Sometimes, depending on your financial goals and how long you plan to live in a new area, selling the home is a better choice.</div>
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What's important here is to take your emotions out of the decision. Instead, here’s what to think about as you go through the process:</div>
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<span style="box-sizing: border-box;">1. What are your goals?</span></h2>
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Owning an <a href="http://propertydepot.ph/" target="_blank">investment property</a> isn’t just about collecting an income -- you have to budget for maintenance, repair and carry costs. No matter how easy the home is to manage or how much income it generates, consider how this fits into your financial plan and whether you have the time to manage the property.</div>
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“You have to weigh the cost of future appreciation and the [rental] income you’re getting now, or if it’s better to get the money from your house [by selling] and put it in your bank account,” says Cara Ameer, broker associate and Realtor at Coldwell Banker Vanguard Realty, based in Ponte Vedra Beach, Fla. “In most cases, the money you’d get from a rental is more than [you'd get] if you put that money in a CD.”</div>
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<span style="box-sizing: border-box;">2. How’s the real estate market?</span></h2>
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Your home’s location is key, since this is what will attract buyers or renters, depending on what you decide, and how much people will pay for your home. Homes in areas with good schools, shopping and other amenities will likely attract strong tenants who will pay enough to cover your costs.</div>
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Research your market and how fast homes sell -- if you can break even or make a profit, you may want to sell. On the other hand, “If the selling conditions aren’t great, <a href="http://propertydepot.ph/" target="_blank">renting </a>could offset your expenses,” says Turk.</div>
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<span style="box-sizing: border-box;">3. Do you want to buy a new home?</span></h2>
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A mortgage on your old home is considered debt as part of a lender’s debt-to-income (DTI) calculation, but any rental income that you currently receive can offset this debt. Unless your income is high enough to afford both mortgages, selling your old home will wipe the slate clean when it comes to your mortgage debt.</div>
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Owning a <a href="http://propertydepot.ph/" target="_blank">rental property</a> also means other expenses, and your budget needs to be prepared for them. “Add into your emergency fund six months of mortgage payments for your second home in case the home is empty [because you can’t find a renter] or someone trashes your home and you have repairs,” says Kelley Long, certified public accountant in Chicago.</div>
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<span style="box-sizing: border-box;">4. Will you recoup your costs if you sell?</span></h2>
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Depending on how long you’ve lived in your home, if home prices haven’t appreciated enough, turning your home into an investment property may be a good idea for the short term. “How long you have to hold a home to [get to] break-even depends on how much you’ve put down and your purchase price,” says Ameer. In most markets, the break-even time period is seven to 10 years, but this time period could be shorter or longer, depending on how fast or slow prices appreciate in your market.</div>
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Even so, there’s risk that you may not break even no matter how long you wait to sell an investment property. “You can’t predict what the market will look like when you need to sell,” says Turk, “and you can’t think about money you may lose because the home hasn’t appreciated.”</div>
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<span style="box-sizing: border-box;">5. What do the numbers look like? </span></h2>
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If you decide not to sell your old home, you want to make sure that the rent you collect is sufficient to cover your expenses, which will include your mortgage, property taxes, any <a href="http://propertydepot.ph/" target="_blank">home ownership association</a> (HOA) fees, certain utilities and maintenance.</div>
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Investment property has different tax considerations from a primary residence too, and the accounting can be complicated. Your mortgage payment, property expenses and rent play into your cash flow and whether you have taxable income or a loss. “The math isn’t always that simple when you want to figure out how much income you’ll have to report for taxes with rental income,” says Long.</div>
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Keeping accurate records, then, is key to making sure you know what deductions you can take. Deductions include the depreciation, since you can write off a portion of what you paid for the home every year; mortgage interest; property taxes; any HOA fees; and other costs associated with maintaining the home.</div>
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<span style="box-sizing: border-box;">6. Who will rent your home?</span></h2>
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“You are taking a risk on somebody [when you rent your home],” says Ameer. “You have to worry about the financial stability of someone else. Just because they signed the lease doesn’t mean they’ll make good on their rent.”</div>
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Consider the profile of potential tenants -- you'll want to find someone who earns enough to afford the rent you’re planning to charge. You can enlist the help of a real estate agent to find and vet potential tenants and check their credit, verify their income and employment, conduct background checks for any criminal or civil arrest and check references. Or you can do this work yourself.</div>
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<span style="box-sizing: border-box;">7. Will you be able to sleep at night?</span></h2>
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Investment properties are great ways to build long-term wealth, but only if owning a home in another city won’t cause you stress because of the maintenance and repairs involved. It’s also a commitment, and you have to stick it out until the mortgage on the property is paid off and the home makes you money every month.</div>
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“Before you do anything, do a gut check,” says Long. “What price would make you happy if you sold your home today? See if you can get it. You may still decide to sell it at a lower price, too.”</div>
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source : https://www.entrepreneur.com/article/253612</div>
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<br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-73983077104540370462016-09-02T07:00:00.000-07:002016-09-02T07:00:05.713-07:006 Reasons You Should Promote Yourself From Landlord to Real Estate Investor<br />
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<span style="background-color: white; color: #252525; font-family: Merriweather, Times, sans-serif; font-size: 17px; line-height: 32px;">Investors in real estate are not quite the same as landlords. Investors take more business risks and often times get better results and profits. It’s the big leagues of property investments.</span><br />
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The good news is that anybody can join the big leagues. <a href="http://propertydepot.ph/" target="_blank"><span style="color: #2093d2;"><span style="box-sizing: border-box;">Real estate investment</span></span> </a>entails more risks than merely leasing and overseeing a house in the case of landlord ownership. But the risks are worth taking as the result of good investment far outweighs any risks.</div>
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A landlord is anyone who owns land - a house, apartment or what we generally call real estate. He or she generally rents those houses and apartments to tenants. Meanwhile, a real estate investor is much more - clearly you still own houses -- but you don’t have to wear all the hats that come with being a landlord.</div>
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I have highlighted six different reasons why it is wise and expedient to metamorphose from being just a landlord to a real estate investor.</div>
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1. Investors avoid the hassle of being a landlord.</h2>
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Marketing the property<span style="box-sizing: border-box; font-weight: 700;">, </span>vacancy showings<span style="box-sizing: border-box; font-weight: 700;">, </span>tenant screenings, lease negotiations<span style="box-sizing: border-box; font-weight: 700;">, </span>rent collection<span style="box-sizing: border-box; font-weight: 700;">, </span>tenant communication<span style="box-sizing: border-box; font-weight: 700;">, </span>repairs and emergencies<span style="box-sizing: border-box; font-weight: 700;">, </span>bookkeeping<span style="box-sizing: border-box; font-weight: 700;">, </span>coordinating insurance policies and more - these are the hats on a landlord’s head.</div>
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Investors exempt themselves from the daily grind and responsibilities and focus more on the business and profit making part. No need worrying how to make a plumber show up on Sunday afternoon. An investor would focus on constant research and smart decision-making.</div>
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To do this requires<a href="http://propertydepot.ph/" target="_blank"> hiring a property management company</a> (PMC) to advertise, negotiate with clients, maintain and generally oversee property and assets on her behalf. This in the short-term might seem like great expenses, but if only to rest from the hat wearing it is worth it, plus a few more advantages as you will see.</div>
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2. Investors have the benefit of focus.</h2>
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Imagine having all the responsibilities above and doing it long-term -- which is what many landlords do. It could get really exhausting, to avoid using a stronger word. Investors focus on one thing, and this increases their profit in the long-term and also in the short-term, depending on how quickly they can make a property more profitable.</div>
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3. Investors avoid indigent tenants.</h2>
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Almost every landlord has to face this at some point, especially in economies that are dwindling. Let’s face it, so many people all over the world are living below the poverty line. Most of these people find it extremely difficult to pay their rent when it is due. And many times these tenants would not vacate the premise, which means you can’t get a new tenant. This usually leads to the issuance of quit notice, or even as far as using a court injunction, to get them to leave.</div>
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An investor can’t be bothered by such challenges. The firm manages all of that and reports to her. And in the event that a property is not profitable, she can sell it, and move on to better investments.</div>
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4. Time, leisure and early retirement.</h2>
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Good investors acquire properties that have flexibility. This includes the cost of hiring a management firm in their cashflow assumptions so they can vet out any financial deal breakers.</div>
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Because of this early planning and wise decision making they can have more time to themselves. They can enjoy vacations and travel, and it won’t affect their jobs, because they limit themselves to about 20 percent of what they would have done as landlords.</div>
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Landlords might even be so restricted that they have to live in the same property with the tenants to keep an eye out. Investors on the other hand, keep charge of their time versus money balance.</div>
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5. The better end of asset appreciation.</h2>
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The valuation of property tends to increase over the years as the net operating income of the same property augments as a result of increase in rent and reduction in the maintenance cost. The latter is assured through effective property management work. Investors need only to find the best management firm they can.</div>
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6. Investors are in it for the money.</h2>
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Aren’t we all? Landlords and investors alike invest in property to make profit, but investment is a less tedious way of making money.</div>
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To be a real estate investor, you only need to have business at the forefront of your mind. You buy an asset with the intention to offload such property for good profit as soon as it is profitable. This canning ability is called <a href="http://propertydepot.ph/" target="_blank">flipping</a>, and it is achieved by smart real estate investors by buying undervalued assets ,or those that are not in huge demand marketwise.</div>
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Investors have no sentimental attachments to properties -- as <a href="http://propertydepot.ph/" target="_blank">selling</a> it doesn’t mean losing their home -- as is the case of many landlords.</div>
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Source : https://www.entrepreneur.com/article/279245</div>
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<br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-65444124516078729822016-09-01T07:00:00.000-07:002016-09-01T07:00:22.976-07:008 Ways Real Estate Is Your Smartest Investment<br />
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<img alt="8 Ways Real Estate Is Your Smartest Investment" height="224" itemprop="image" itemscope="" itemtype="https://schema.org/ImageObject" rel="share" src="https://assets.entrepreneur.com/content/16x9/822/1410458106-5-keys-negotiating-office-lease.jpg" style="background-color: white; border: 0px; box-sizing: border-box; color: #252525; font-family: Lato, arial, sans-serif; font-size: 16px; vertical-align: middle;" width="400" /></div>
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<span style="background-color: white; color: #252525; font-family: "merriweather" , "times" , sans-serif; font-size: 17px; line-height: 32px;">Inflation is defined as, “a general increase in prices and fall in the purchasing value of money.” Your money doesn’t go as far -- simple. The $30k you made at your job 10 years ago and lived comfortably with barely gets you by now. You can’t control inflation (the Federal Reserve does that) and the government has doubled their debt since 2008. It’s now at $18.3 trillion and grows every day.</span><br />
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The government cannot save you or your family, or ensure your financial freedom. Set your mind right about earning money. More cash = more freedom! Money itself won’t make you happy, but it will give you the ability to provide a better life for yourself and your loved ones. You must invest with income streams that give you positive cash flow, learn to leverage your debt, learn to handle inflation and take control of your physical assets.</div>
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Do you currently have commercial real estate assets in your<a href="http://propertydepot.ph/" target="_blank"> investment portfolio</a>? Are you scared to have your money in the stock market (like I am) but also fed up with almost no return on investment with your money at the bank? Do you instinctively like the idea of being invested in income producing real estate with results you can see?</div>
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Here are eight reasons why investing income producing real estate is an excellent choice for protecting and growing your wealth:</div>
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<span style="box-sizing: border-box;">1. Positive cash flow</span>.</h2>
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One of the biggest benefits to income producing <a href="http://propertydepot.ph/" target="_blank">real estate investments </a>is that leases generally secure the assets. This provides a regular income stream that is significantly higher than the typical stock dividend yields.</div>
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<span style="box-sizing: border-box;">2. Using leverage to multiply asset value.</span></h2>
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Another important characteristic of commercial real estate investing is the ability to place debt on the asset, which is several times the original equity. This allows you to buy more assets with less money and significantly multiply asset value and increase equity as the loans are paid down.</div>
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<span style="box-sizing: border-box;">3. Low-cost debt leveraged to multiply cash flow.</span></h2>
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Placing “positive leverage” on an asset allows for investors to effectively increase positive cash flow from operations by borrowing money at a lower cost than the property pays out. For example, if a property generating a 6 prcent cash-on-cash return were to have debt placed on it at 4 percent, the investors would be paid 6 percent on the equity portion and approximately 2 percent on the money borrowed, thereby leveraging debt.</div>
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<span style="box-sizing: border-box;">4. Hedge on inflation.</span></h2>
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For each dollar that is created, there is a corresponding liability. <a href="http://propertydepot.ph/" target="_blank">Real estate investments</a> have historically shown the highest correlation to inflation when compared to other asset classes, such as the S&P 500, 10-year Treasury notes and corporate bonds.</div>
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As countries around the world continue to print money to spur economic growth, it is important to recognize the benefits of owning income producing real estate as a hedge against inflation. Generally speaking, when inflation occurs, the price of real estate, particularly multi-tenant assets that have a high ratio of labor and replacement costs, will also rise.</div>
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<span style="box-sizing: border-box;">5. Capitalize on the physical assets.</span></h2>
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Income-producing real estate is one of the few investment classes that, as a hard asset, has meaningful value. The property’s land has value, as does the structure itself, and the income it produces has value to future investors. Income producing <a href="http://propertydepot.ph/" target="_blank">real estate investments</a> do not have red and green days, as does the stock market.</div>
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<span style="box-sizing: border-box;"> 6. Maximizing tax benefits.</span></h2>
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The US Tax Code benefits real estate owners in a number of ways, including unlimited mortgage interest deductions and depreciation accelerations that can shield a portion of the positive cash flow generated and paid out to investors. At the time of sale, IRS allows investors a 1031 provision, allowing investors to exchange into a like-kind instrument and defer all taxable gains into the future. (See your tax advisor for full explanation.)</div>
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<span style="box-sizing: border-box;">7. Asset value appreciation.</span></h2>
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Over time, more and more inflation has made it into the economy, drastically reducing purchasing power. However, income producing real estate investments have historically provided excellent appreciation in value that meet and exceed other investment types. Properties historically increase in value as the net operating income of the property improves through rent increases and more effective management of the asset.</div>
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<span style="box-sizing: border-box;">8. Feeling the pride of ownership.</span></h2>
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The right property in the right location with the right tenants and ownership mindset can produce a tremendous pride of ownership factor that is highest among all asset classes. Homeownership is out of reach for most people. Imagine owning thousands of multi-family housing units instead?</div>
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No one can ensure the future of rental of income properties’ values, but this asset class seems positioned to continue to benefit from many other socio-economic issues that I will save for another time.</div>
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Source : https://www.entrepreneur.com/article/250759</div>
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<br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-61120033424637151792016-08-31T04:22:00.002-07:002016-08-31T04:22:54.384-07:00The 7 Tips Entrepreneurs Need to Know Before Investing in Real Estate<br />
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<img alt="The 7 Tips Entrepreneurs Need to Know Before Investing in Real Estate" height="179" itemprop="image" itemscope="" itemtype="https://schema.org/ImageObject" rel="share" src="https://assets.entrepreneur.com/content/16x9/822/20150309214908-cars-office-for-lease-officespace-parking-street.jpeg" style="background-color: white; border: 0px; box-sizing: border-box; color: #252525; font-family: Lato, arial, sans-serif; font-size: 16px; vertical-align: middle;" width="320" /></div>
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Why should entrepreneurs invest in the first place? The answer is: to have enough money to live on when we no longer can or wish to work. To put that money aside, however, we have to accumulate enough to offset inflation and the taxes that erode our savings. And for that purpose, real estate is an excellent solution.</div>
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The great thing about real estate is that even in a bad economy, it will usually fare better than stocks. Land, after all, is a finite resource. People need a place to live, work, shop and play -- so real estate is really just a matter of supply and demand. </div>
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What's more, real estate will continue to appreciate despite occasional slow-downs in the economy. In fact, it's proven to be the best way to create wealth, and an investor need not be a genius or a millionaire to succeed. Here are some tips, then, for entrepreneurs on getting started and succeeding in real estate investing:</div>
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1. <em style="box-sizing: border-box;">Do</em> -- plan your financial goals.</h2>
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Before you buy that first property, or do your first analysis, determine what you expect from your investments. What are your financial goals? We often discuss the “time vs. money” concept: The more you have of one, the less you need of the other to reach your financial goals. This means that you shouldn’t shy away from taking the time to understand your goals and make sure each investment is a step toward achieving them. If you are unsure exactly how to create financial goals, meeting with a financial advisor is an excellent first step. </div>
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2. <em style="box-sizing: border-box;">Don't </em>-- spend a fortune on books, tapes and seminars, then just put all that information on a shelf. </h2>
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You absolutely do need to learn some basics before venturing into investing. So, be sure to do some studying, but don’t let “buying and collecting” information become your endgame. Again, having goals in mind will make the process much more straightforward. It’s easy to get so tied up in the “research” phase that you never actually take action. Instead, write down specific questions you want answered or goals you want to meet before delving into the latest book/seminar/etc. </div>
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3. <em style="box-sizing: border-box;">Do</em> -- look at plenty of properties. </h2>
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Don’t just grab the first property you look at. Too many investors buy properties because they “look nice,” or the investors don’t want to put the work in to look at what’s really out there. Remember, you won’t be living there, so don’t make your investment decision based on your personal preferences. While you shouldn’t fall into the trap of analysis paralysis, make sure you are thorough in looking through properties. Give yourself a wide range of options, then narrow them down based on the criteria (goals) you have set for yourself.</div>
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4. <em style="box-sizing: border-box;">Don't </em>-- postpone starting your investment program because you’re waiting for that perfect “unicorn” deal.</h2>
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That’s the flip side to number 3, of course. Plenty of beginning investors suffer from “a-better-deal-may-be-just-around-the-corner” syndrome. This can backfire in a big way, and you could potentially let a great deal slip just because you’re holding out for something better. Your task may feel difficult if this is your first property, but you must realize that the “perfect deal” rarely (if ever) exists. Better to execute on a deal that meets most of your criteria than wait for another that may never come. </div>
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5. <em style="box-sizing: border-box;">Do</em> -- a thorough financial analysis.</h2>
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Be realistic. Look at different alternatives to determine which makes the most financial sense. And never buy property at a higher price or on less attractive terms than your analysis says made sense. Be wary of sellers that try to over-estimate the value of the property through pro-forma (estimated) data. While you can certainly use a pro-forma to start the conversation, make sure you know the real numbers before closing. Look at previous years’ tax returns, property-tax bills, maintenance records, etc. to get a good idea of the real income and expenses.</div>
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The most important figures you should know are: </div>
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<li style="box-sizing: border-box; margin: 0px 0px 12px 19px; padding: 0px 0px 0px 6px; text-align: justify;">Net income (income/expenses) </li>
<li style="box-sizing: border-box; margin: 0px 0px 12px 19px; padding: 0px 0px 0px 6px; text-align: justify;">Cash flow (net income/debt financing payments) </li>
<li style="box-sizing: border-box; margin: 0px 0px 12px 19px; padding: 0px 0px 0px 6px; text-align: justify;">Return on investment (cash flow/investment)</li>
<li style="box-sizing: border-box; margin: 0px 0px 12px 19px; padding: 0px 0px 0px 6px; text-align: justify;">Cap rate (net income/property price)</li>
<li style="box-sizing: border-box; margin: 0px 0px 12px 19px; padding: 0px 0px 0px 6px; text-align: justify;">Cash-on-cash return (cash flow/investment)</li>
<li style="box-sizing: border-box; margin: 0px 0px 12px 19px; padding: 0px 0px 0px 6px; text-align: justify;">Total ROI (total return/investment)</li>
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In each case, “investment” refers to how much you invest in the property. "Debt financing" refers to any loans you may have to take out to buy the property. And "total return" refers to cash flow, equity accrual (i.e., equity gained from your tenants paying their rents), appreciation and taxes.</div>
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Once you have understood these figures, you should have enough information to determine whether or not acquiring the property fits with your financial goals.</div>
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6.<em style="box-sizing: border-box;"> Don't </em>-- try to buy property that the seller is not motivated to sell.</h2>
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If the seller is motivated to sell, you’re not likely to get the price best aligned with your financial goals. So, how do you know if a seller is motivated? Look at the asking price. For example, If the property has been on the market for a year for, say, $200,000, with little-to-no price reduction, the seller is clearly not very motivated to move the property. However, if that same property has been on the market for a year and has had its price moved down considerably, the seller most likely wants to do whatever it takes to get the property off his or her hands. Of course, this raises the question of how to find motivated sellers. There are many approaches, and not all of these will work for you, depending on what property you want. But a few trusted methods include: </div>
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<li style="box-sizing: border-box; margin: 0px 0px 12px 19px; padding: 0px 0px 0px 6px; text-align: justify;">Attending open houses </li>
<li style="box-sizing: border-box; margin: 0px 0px 12px 19px; padding: 0px 0px 0px 6px; text-align: justify;">Looking for vacant/unattractive properties that are for sale </li>
<li style="box-sizing: border-box; margin: 0px 0px 12px 19px; padding: 0px 0px 0px 6px; text-align: justify;">Spreading the word about yourself and what properties you are looking for -- truly </li>
<li style="box-sizing: border-box; margin: 0px 0px 12px 19px; padding: 0px 0px 0px 6px; text-align: justify;">Going the old-fashioned route and looking in the classifieds of your local paper </li>
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These are just a few ways to find sellers, but there are potentially dozens of other methods, depending on what type of property you’re looking for.</div>
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7. <em style="box-sizing: border-box;">Do --</em> know the difference between real estate investing and the business of real estate.</h2>
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As an entrepreneur, you already have a business, and real estate investing is best used to support that business, not replace it -- unless that’s your intention. In other words, don’t get so caught up in executing transactions that your core business falters. If that happens, you’ll be facing a bumpy road to get back to stability. Unless your business is itself real estate, or you’re looking to get into the business full-time, always remember that pursuing these deals is a means to an end, not an end unto itself. </div>
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So, if you’re interested in staying ahead of taxes and inflation while building security for the future, real estate investing may be for you. What are you waiting for?</div>
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Source : https://www.entrepreneur.com/article/248350 </div>
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BUY-SELL-RENT PROPERTIES visit <a href="http://www.propertydepot.ph/">www.PropertyDepot.PH</a></div>
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<br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-86743410347320872942016-01-30T08:04:00.000-08:002016-01-30T08:04:50.392-08:00Arnel Paciano Casanova: From a slum dweller to a city builder<br />
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Arnel Paciano Casanova: From a slum dweller to a city builder</h1>
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<figure style="margin: 0px;"><a class="td-modal-image" data-caption="In Photo: Lawyer Arnel Paciano Casanova, president and CEO of Bases Conversion and Development Authority, speaks before participants of an investment conference in 2014." href="http://www.businessmirror.com.ph/wp-content/uploads/2015/10/anniv04-100915.jpg" style="color: #dd3333; text-decoration: none !important;"><img alt="" class="entry-thumb" height="450" itemprop="image" src="http://www.businessmirror.com.ph/wp-content/uploads/2015/10/anniv04-100915.jpg" style="border: 0px; height: auto; margin-bottom: 0px; max-width: 100%; vertical-align: middle;" title="anniv04-100915" width="633" /></a><figcaption class="wp-caption-text" style="color: #444444; font-family: 'Open Sans', arial, sans-serif !important; font-size: 12px; font-style: italic; line-height: 20px; margin: 0px !important; padding: 5px 0px 23px;">In Photo: Lawyer Arnel Paciano Casanova, president and CEO of Bases Conversion and Development Authority, speaks before participants of an investment conference in 2014.</figcaption></figure></div>
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By Leony R. Garcia</div>
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<span class="s1">WHO</span><span class="s2"> would ever think that a slum dweller, a penniless student who migrated to the city to pursue the elusive dream of education, would one day become a city builder?</span></div>
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<span class="s3">This is the story of Arnel Paciano Casanova, currently the president and CEO of the Bases Conversion and Development Authority (BCDA), a government development corporation mandated to transform former military lands into alternative productive civilian enclaves. </span></div>
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<span class="s3">Casanova grew up in a poor family in Padre Garcia, Batangas province. His father, a farmer, and her mother, a seamstress, had a hard time raising him and his seven siblings. Thus, at a young age, there was this thirst for learning as a way out of hardship for the family and a way to be successful in life someday.</span></div>
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<span class="s4"><b>Thirst for learning</b></span></div>
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<span class="s3">“In my town, a college degree was literally an impossible dream. Yet, my thirst for learning was insatiable. Armed with P100 in my pocket, I went to Manila and took the University of the Philippines [UP] College Admission Test, and passed,” Casanova reminisced. </span></div>
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<span class="s1">So while studying in UP, the young Casanova lived with relatives, who were slum dwellers in Fort Bonifacio. He then became one of those unknown city migrants who had to scrounge for food, shelter and education while sleeping on the floor, enduring leaking roofs and flooded road. </span><span class="s3">“Yet, I found grace in humanity in the slums. Neighbors know each other. I never ran out of people to play street basketball with at any given time of the day or night. We shared food, no matter how meager it could be. I found my true friends in the midst of <span class="Apple-converted-space"> </span>squalor,” he continued.</span></div>
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<span class="s4"><b>Peace negotiator at 25</b></span></div>
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<span class="s3">Fast forward. Casanova was 25, just a year out of the UP Law School. He was a young lawyer working as part of the government peace panel.</span></div>
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<span class="s3">“Fortunately, we were able to successfully negotiate peace with former military rebels. For this, I was awarded the prestigious Philippine Legion of Honor Medal [1997], one of the youngest recipients of such award under the presidency of President Fidel Ramos,” he said.</span></div>
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<span class="s3">According to Casanova, other accomplishments of the peace panel then included the recovery of weapons, firearms, explosives and ammunitions of the army rebels—Reform the Armed Forces Movement, Soldiers of the Filipino People, Young Officers Union (RAM-SFP-YOU).</span></div>
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<span class="s3">As a lawyer, he also helped draft the General Peace Agreement between the Philippine government and the RAM-SFP-YOU and the Marcos loyalist forces and the Amnesty Proclamation. And in 2003, he testified on military corruption before the Feliciano Commission, a body created to investigate the Oakwood Mutiny. This resulted in the recovery of government property, valued at approximately $200 million, which was misappropriated by a group of retired and active generals of the military.</span></div>
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<span class="s4"><b>BCDA chief</b></span></div>
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<span class="s3">And now, 20 years after, Casanova finds himself approaching his fifth year as BCDA president and CEO.</span></div>
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<span class="s3">And his latest accomplishments: “Through sound partnerships forged with the private sector, prudent asset management and revenue collection, we were able to contribute over P27 billion for the account of the modernization of the Armed Forces. Among our projects which greatly benefited the nation are the Bonifacio Global City, the Subic-Clark-Tarlac Expressway and soon, the country’s first, smart, disaster-resilient metropolis, the Clark Green City.”</span></div>
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<span class="s4"><b>Other advocacies</b></span></div>
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<span class="s3">Currently, he is a faculty member of the Ateneo School of Government and UP College of Law teaching social entrepreneurship and law, while mentoring other social enterprises involved in health care, poverty alleviation, environment, housing and others.</span></div>
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<span class="s3"><br />He is also into microfinancing and is part of CARD Inc., the biggest microfinance institution in the Philippines. He has founded AvantChange, a social enterprise organized in Cambridge that aims to promote social entrepreneurship in Asia. Further, he supports the Tsinelas Leadership of the late Secretary Jesse Robredo, and is among the pioneers of Kaya Natin! (We Can!), a social movement for good governance and ethical leadership.</span></div>
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<span class="s3">A staunch supporter of the youth, Casanova believes in the promise and the vast possibilities that they can do. “For me they are equally good and hardworking. My story is not unique, and we have many youths who have moved mountains through hard work and selflessness. The only difference with today’s youth is the lack of reverence for the heroes of our country. Because we can learn a lot from our history, value those who passed before us,” he admonished.</span></div>
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<span class="s3">He also advised today’s Millennials to love the country and study hard, to value the opportunity to participate in good governance, and not holding back in dreaming and working hard to achieve those dreams.</span></div>
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<span class="s3">“From a slum dweller, I am now a city builder. And my education in UP and in Harvard has given me a different perspective—a perspective that has empowered me to pay it forward. In building Clark Green City, my colleagues in the BCDA are being able to offer Filipinos an opportunity to live a better quality of life—a life they deserve,” he said. </span></div>
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<span class="s3">“Clark Green City is a project for the benefit of the new generation. And we in the BCDA are committed to realize this for our country. We hope our countrymen will support this project, as it will behold proper urban planning that will yield growth that is inclusive—affordable quality of life that is world-class and responsive,” Casanova concluded.</span></div>
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<span class="s3">Source : http://www.businessmirror.com.ph/arnel-paciano-casanova-from-a-slum-dweller-to-a-city-builder/</span></div>
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<br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-5504143994441734762016-01-30T04:01:00.001-08:002016-01-30T04:01:15.816-08:00Lucio Tan at 25: Birth of an enterprise<br />
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Lucio Tan at 25: Birth of an enterprise</h1>
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<figure style="margin: 0px;"><a class="td-modal-image" data-caption="In Photo: Himmel, 1999" href="http://www.businessmirror.com.ph/wp-content/uploads/2015/10/anniv016-100915.jpg" style="color: #dd3333; text-decoration: none !important;"><img alt="" class="entry-thumb" height="450" itemprop="image" src="http://www.businessmirror.com.ph/wp-content/uploads/2015/10/anniv016-100915.jpg" style="border: 0px; height: auto; margin-bottom: 0px; max-width: 100%; vertical-align: middle;" title="anniv016-100915" width="630" /></a><figcaption class="wp-caption-text" style="color: #444444; font-family: 'Open Sans', arial, sans-serif !important; font-size: 12px; font-style: italic; line-height: 20px; margin: 0px !important; padding: 5px 0px 23px;">In Photo: Himmel, 1999</figcaption></figure></div>
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<span class="s1">By Joey de Guzman / </span><span class="s2"><i>Special to the </i>BusinessMirror</span></div>
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<span class="s3">AS</span><span class="s3"> a child, Lucio C. Tan was always fascinated by tec</span><span class="s4">hnology. With a sense of w</span><span class="s5">onder, he marveled at the speed and efficiency by which machines and high-tech devices of his time transformed the world. H</span><span class="s4">e believed then, as now, that techno</span><span class="s6">l</span><span class="s4">ogy and innovation play vital roles in the dev</span><span class="s3">elopment of any enterprise.</span></div>
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<span class="s1"><a href="http://www.businessmirror.com.ph/wp-content/uploads/2015/10/anniv016a-100915.jpg" style="color: #dd3333; text-decoration: none !important;"><img alt="anniv016a-100915" class="size-full wp-image-71314 alignleft" height="438" sizes="(max-width: 300px) 100vw, 300px" src="http://www.businessmirror.com.ph/wp-content/uploads/2015/10/anniv016a-100915.jpg" srcset="http://www.businessmirror.com.ph/wp-content/uploads/2015/10/anniv016a-100915-137x200.jpg 137w, http://www.businessmirror.com.ph/wp-content/uploads/2015/10/anniv016a-100915-274x400.jpg 274w, http://www.businessmirror.com.ph/wp-content/uploads/2015/10/anniv016a-100915.jpg 300w" style="border: 0px; display: block; float: left; height: auto; margin-bottom: 6px; margin-right: 23px; margin-top: 6px; max-width: 100%; vertical-align: middle;" width="300" /></a>At his tender age, he dreamt of becoming a scientist. Thus, after graduating from Chiang Kai Shek High School in 1955, he immediately set this dream to motion: He enrolled in a chemical engineering course at the Far Eastern University. Though he did not become a full-time scientist by profession, his almost obsessive fondness for science and technology is reflected in his daily life and throughout his business empire.</span></div>
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<span class="s1"><b>Business mind-set</b></span></div>
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<span class="s1">As a working student, the young Lucio Tan busied himself with mastering the craft of mixing chemicals and flavorings at the Bataan Cigar and Cigarette Factory. Through hard work and a frugal lifestyle, he slowly raised the seed of his envisioned enterprise. While still working for the cigarette firm, he became a partner in a cornstarch venture and, later, established an electronics shop producing transistor radios. Though both attempts at entrepreneurship didn’t take off, these setbacks only fueled his determination to pursue his dream.</span></div>
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<span class="s1"><b>Sowing the seeds of an empire</b></span></div>
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<span class="s1">At 25, he started laying the groundwork for a chemical manufacturing and trading firm. While others of similar age were busy establishing careers after college, Tan was already forming the foundations of what would become one of the most inspiring corporate success stories in the Philippines.</span></div>
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<span class="s1">Making the most of what he learned from his chemical engineering studies and his work of mixing chemicals at the Bataan Cigar and Cigarette Factory, he drew plans and purchased second-hand machines and reconditioned American trucks for his envisioned enterprise.</span></div>
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<span class="s1"><a href="http://www.businessmirror.com.ph/wp-content/uploads/2015/10/anniv016b-100915.jpg" style="color: #dd3333; text-decoration: none !important;"><img alt="anniv016b-100915" class="size-full wp-image-71315 alignright" height="432" sizes="(max-width: 300px) 100vw, 300px" src="http://www.businessmirror.com.ph/wp-content/uploads/2015/10/anniv016b-100915.jpg" srcset="http://www.businessmirror.com.ph/wp-content/uploads/2015/10/anniv016b-100915-139x200.jpg 139w, http://www.businessmirror.com.ph/wp-content/uploads/2015/10/anniv016b-100915-278x400.jpg 278w, http://www.businessmirror.com.ph/wp-content/uploads/2015/10/anniv016b-100915-248x357.jpg 248w, http://www.businessmirror.com.ph/wp-content/uploads/2015/10/anniv016b-100915.jpg 300w" style="border: 0px; display: block; float: right; height: auto; margin-bottom: 6px; margin-left: 23px; margin-top: 6px; max-width: 100%; vertical-align: middle;" width="300" /></a>On November 18, 1960, Himmel Industries Inc. was born. The company started small, venturing into the trading of chemicals, such as refined glycerin, sorbitol, industrial honey, menthol and flavoring compounds. While the company’s original target market was the burgeoning cigarette industry, it later expanded operations to supply major ingredients to the food, pharmaceutical, beer, paint, ink, textile, cosmetic, paper, glue, plastic, rubber, PVC and cement industries.</span></div>
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<span class="s1">Within the same year, Tan married Carmen Khao Tan. They have seven children.</span></div>
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<span class="s1"><b>Founders</b></span></div>
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<span class="s1">Located in Barrio Santolan, Pasig City—where it still stands today—Himmel was founded by Tan and several partners. Each took specific roles in managing plant operations, marketing and cash management. With this core group, Himmel provided high-quality products and professional services, thus earning the trust and loyalty of its clients and business partners.</span></div>
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<span class="s1"><b>Early years</b></span></div>
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<span class="s1">At the time of Himmel’s entry, there was great demand for refined glycerin—a chemical widely used in the cigarette, paint, pharmaceutical and cosmetics industries. However, few Philippine companies could meet the demand and the pharmaceutical grade required by most manufacturers. Seeing great opportunity, Tan flew to the United States and bought an old glycerin refinery, dismantled the same and rebuilt it piece by piece in the Philippines.</span></div>
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<span class="s1">The refurbished plant was a huge success. Himmel was able to process and produce high-grade glycerin, which it sold to local companies at costs much lower than its imported counterparts. Because of Tan’s foresight and keen business sense, many local companies benefited from his glycerin plant, which made Himmel a byword in Philippine industrial circles.</span></div>
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<span class="s1"><b>Trading and related businesses</b></span></div>
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<span class="s1">Years later, Himmel’s operations expanded to the trading of industrial chemicals. In 1977 it built a second glycerin plant. <span class="Apple-converted-space"> </span>With the foundation for long-term stability in place, Himmel diversified into the trading of fabricated steel drums, compound flavors, and fragrances and printing ink.</span></div>
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<span class="s1">With great demand for flavorings and fragrances, Himmel introduced the planting of peppermint grass in Mindoro; propagation of citronella plants in Laguna; and raising of honey bees. It was upon Tan’s initiative that honey production was pursued. Even today, the tycoon is an acknowledged beekeeping expert, a skill he acquired during his younger days as a chemist for the Bataan Cigar and Cigarette Factory.</span></div>
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<span class="s1">With natural competitive advantages as a supplier of raw materials, Himmel ventured into soap manufacturing. Through Manserve, an affiliate company, Himmel produces its own line of bath soap, like Nova, Success, Persona and Stiefel. The company is also a major subcontractor, producing different brands for various multinational corporations.</span></div>
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<span class="s1">In 1981 Himmel set its sights on the booming Calabarzon area. Using South Korean technology, it built a private pier in Pinamucan, Batangas, that could service huge vessels with average lifting capacities up to 17,000 dead weight tons. Later, Himmel acquired 14 shore tanks with a combined capacity of 11.5 million liters of liquid bulk cargo, including aviation fuel.</span></div>
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<span class="s1">On a par with international standards, Himmel’s liquid cargo terminal could store imported chemicals and solvents in bulk for later </span><span class="s2">delivery to different parts of the Philippines. Equipped with some of the best safety and firefighting equipment, the cargo terminal has attracted an impressive list of clients which includes giant multinational firms.</span></div>
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<span class="s2"><b>Himmel and the lt Group</b></span></div>
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<span class="s2">Through vision and hard work, Tan and his cofounders built Himmel from its small plant in Pasig City to its current status as one of the country’s biggest chemical traders. Its path to success was paved with calculated moves, carried out with methodical precision. Its operations were anchored in the belief that nothing can be gained from haphazard strategies.</span></div>
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<span class="s2">Indeed, after m</span><span class="s1">ore than five decades, Himmel has distinguished itself not only in the chemical manufacturing and trading sectors, but also as the seed from which sprouted a vast conglom</span><span class="s2">erate that now cuts across the length and breadth of Philippine commerce.</span></div>
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<span class="s1">It was from Himmel and, later, Fortune Tobacco Corp., that the Lucio Tan Group of Cos. (now publicly listed as LT Group Inc., or “LTG”) expanded into agribusiness; airlines and related services; banking, finance and securities; brewery; chemicals; distillery and alcohol; education; food; hotel; re</span><span class="s2">al estate; soap manufacturing; steel fabrication and construction; and tourism and travel services.</span></div>
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<span class="s2">S</span><span class="s1">ince Himmel was established, Tan set his sights on the pursuit of </span><span class="s2">quality and profitability that was to shape the vision of today’s LT Group Inc. With its achievements, it could be said that Himmel—more than a corpor</span><span class="s1">ate success—is one man’s vision which he dreamed and put into ac</span><span class="s2">tion at the young age of 25.</span></div>
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<span class="s2">Source : http://www.businessmirror.com.ph/lucio-tan-at-25-birth-of-an-enterprise/</span></div>
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<br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-821117982049264612016-01-30T03:46:00.000-08:002016-01-30T04:11:17.552-08:00Ambassador Antonio L. Cabangon Chua: No Dream Too Tall<br />
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Ambassador Antonio L. Cabangon Chua: No Dream Too Tall</h1>
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<figure style="margin: 0px;"><a class="td-modal-image" data-caption="In Photo: Portrait of the Cabangon Chua couple, who got married on the eve of Christmas, 1959 and Young businessman Tony, shown here with his third motorcycle, a Harley-Davidson speeder." href="http://www.businessmirror.com.ph/wp-content/uploads/2015/10/bm08-102915.jpg" style="color: #dd3333; text-decoration: none !important;"><img alt="" class="entry-thumb" src="http://www.businessmirror.com.ph/wp-content/uploads/2015/10/bm08-102915.jpg" height="450" itemprop="image" style="border: 0px; height: auto; margin-bottom: 0px; max-width: 100%; vertical-align: middle;" title="bm08-102915" width="550" /></a><figcaption class="wp-caption-text" style="color: #444444; font-family: 'Open Sans', arial, sans-serif !important; font-size: 12px; font-style: italic; line-height: 20px; margin: 0px !important; padding: 5px 0px 23px;">In Photo: Portrait of the Cabangon Chua couple, who got married on the eve of Christmas, 1959 and Young businessman Tony, shown here with his third motorcycle, a Harley-Davidson speeder.</figcaption></figure></div>
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By Joel Pablo Salud |Special to the BusinessMirror</div>
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It was half past the summer of 2009 when, as the new boy in the Philippines Graphic newsroom, I was introduced to the company’s chairman emeritus, Ambassador Antonio L. Cabangon Chua. I was then just recently hired as the magazine’s new managing editor.</div>
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<figure class="wp-caption alignleft" id="attachment_74328" style="background-color: white; float: left; margin: 6px 23px 0px 0px; max-width: 100% !important; text-align: center; width: 350px;"><a href="http://www.businessmirror.com.ph/wp-content/uploads/2015/10/bm08a-102915.jpg" style="color: #dd3333; text-decoration: none !important;"><img alt="Tony (in bow tie), then the youngest member of the Chamber of Pawnbrokers of the Philippines. Then Manila Mayor Antonio J. Villegas is in left foreground." class="size-full wp-image-74328" src="http://www.businessmirror.com.ph/wp-content/uploads/2015/10/bm08a-102915.jpg" height="189" sizes="(max-width: 350px) 100vw, 350px" srcset="http://www.businessmirror.com.ph/wp-content/uploads/2015/10/bm08a-102915-150x81.jpg 150w, http://www.businessmirror.com.ph/wp-content/uploads/2015/10/bm08a-102915-300x162.jpg 300w, http://www.businessmirror.com.ph/wp-content/uploads/2015/10/bm08a-102915.jpg 350w" style="border: 0px; display: block; height: auto; max-width: 100% !important; vertical-align: middle;" width="350" /></a><figcaption class="wp-caption-text" style="color: #444444; font-family: 'Open Sans', arial, sans-serif !important; font-size: 12px; font-style: italic; line-height: 20px; margin: 0px !important; padding: 5px 0px 23px; text-align: left;">Tony (in bow tie), then the youngest member of the Chamber of Pawnbrokers of the Philippines. Then Manila Mayor Antonio J. Villegas is in left foreground.</figcaption></figure><br />
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At the doorway to his office, I saw the ambassador standing all dapper and sporty in his dark blue jacket, sports shirt and beige pants, even as he sported a smile that made me feel doubly welcome.</div>
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I immediately sensed a humility to him that defied explanation. I had worked in numerous companies prior to working with the Aliw Media Group. I was no stranger to corporate top brass. The same level of modesty I sensed in my new boss came few and far between.</div>
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Very few had had the chance to meet the man, whom many fondly call Amba, up close. As we shook hands and settled in his office, I noticed a huge framed photograph of a lovely woman in Filipiniana attire hanging by his wall. I recall wondering who the woman was, until later in the day when I was told she was the ambassador’s mother, Dominga Lim Cabangon.</div>
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Past the routine civility of introducing myself as his new hired hand, Amba immediately set the pace of the conversation. No small talk, no further courtesies; just a gesture of trust I rarely see in other bosses I’ve worked with in the past.</div>
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“I want you to interview General Ermita for the magazine today,” the ambassador said, obviously eyeing me with a bit of curiosity. After about half a minute of silence, he waved at his secretary, who apparently knew what the gesture meant.</div>
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<figure class="wp-caption alignright" id="attachment_74330" style="background-color: white; float: right; margin: 6px 0px 0px 23px; max-width: 100% !important; text-align: center; width: 350px;"><a href="http://www.businessmirror.com.ph/wp-content/uploads/2015/10/bm08b-102915.jpg" style="color: #dd3333; text-decoration: none !important;"><img alt="The Filipinas Pawnshop, on the corner of Herran (now Pedro Gil) and General Luna in Paco, in a recent photo: Still in the same location after almost 50 years." class="size-full wp-image-74330" src="http://www.businessmirror.com.ph/wp-content/uploads/2015/10/bm08b-102915.jpg" height="268" sizes="(max-width: 350px) 100vw, 350px" srcset="http://www.businessmirror.com.ph/wp-content/uploads/2015/10/bm08b-102915-150x115.jpg 150w, http://www.businessmirror.com.ph/wp-content/uploads/2015/10/bm08b-102915-300x230.jpg 300w, http://www.businessmirror.com.ph/wp-content/uploads/2015/10/bm08b-102915.jpg 350w" style="border: 0px; display: block; height: auto; max-width: 100% !important; vertical-align: middle;" width="350" /></a><figcaption class="wp-caption-text" style="color: #444444; font-family: 'Open Sans', arial, sans-serif !important; font-size: 12px; font-style: italic; line-height: 20px; margin: 0px !important; padding: 5px 0px 23px; text-align: left;">The Filipinas Pawnshop, on the corner of Herran (now Pedro Gil) and General Luna in Paco, in a recent photo: Still in the same location after almost 50 years.</figcaption></figure><br />
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Turning to me, he then said, “My driver and my car are waiting for you downstairs. Hijo, I have worked with a lot of journalists and editors in my lifetime. All I ask is that you be fair.”</div>
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With no further instructions, he stood up and kindly saw me out the door. As I strolled past the secretary’s desk, he again called and asked me to draw near.</div>
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Thereafter, he leaned over and said, “I want you to think of the magazine as your own, and think of me as your own father. From this day on, I will treat you as one of my children. We’re your family, always remember that. If you need anything, anything at all, don’t have second thoughts of asking me.” He then patted me on the shoulders.</div>
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That alone said a lot about the sort of individual I was to respect as my boss. Little did I know then that there was more to this man than meets the eye.</div>
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Weeks into the job saw me scrounging for information about the ambassador—who he is, how he runs things. I have yet to hear anything adverse when, quite by accident, I stumbled on two books, one written by National Artist for Literature Nick Joaquin, <em>Antonio L. Cabangon Chua: A Saga of Success,</em> and its sequel penned by award-winning writer Jose F. Lacaba and Eric S. Caruncho.</div>
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While I was not the sort who read biographies, Joaquin and Lacaba were good enough reasons to flip the pages.</div>
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Tony Cabangon’s life as a child cared for by single parent—his mother Dominga—along the poorer side of Barrio Namayan in Mandaluyong was anything but a breeze.</div>
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During and immediately after World War II, the young Tony ran errands as a servant, rented out komiks, sold newspapers and magazines, and buffed the shoes of American GIs just to make ends meet. Later on, with a little help from a vocational course, the future ambassador to Laos worked as an automotive and diesel mechanic and a passenger jeepney driver.</div>
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His mother Dominga borrowed money from rich relatives in exchange for life’s modest needs.</div>
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Often ill-treated to the point of being humiliated, both mother and son soldiered on, Tony more than ever, who did everything humanly possible to ease the poverty of his mother.</div>
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It was a hard climb for both mother and son, but none too steep for Tony to reach. To ease the grip of poverty, the young Tony engaged in everything, from vending fish whenever he can to finally opening a humble sari-sari store in that pitiful riverside barrio they called home.</div>
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One defining moment in young Tony’s life came by way of an American GI. In the book The Continuing Saga of Success, written by award-winning poet Jose “Pete” Lacaba and Eric S. Caruncho, Tony himself reminisced about the incident.</div>
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Tony related that while he was shining the shoes of a GI, his eyes caught the pear the man was eating. Tony hardly had a bite to eat for hours. As if to taunt him, the GI asked if Tony wanted the pear.</div>
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“And this son-of-a-bitch American knew my mouth was watering for that pear he was eating. ‘You want this pear, boy?’ he grinned at me. I could only gape at him. The pear was only half-eaten and suddenly he hurled it away. ‘Go get it, boy!’ I didn’t move […] I refused to stir.”</div>
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It was then that the GI kicked the young boy “like a dog.” The sudden violence forced the young Tony to scamper under a six-by-six truck for safety, where he wept because of the pain.</div>
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“But at the time,” Tony said, “I felt something of my mother’s pride. I hadn’t run to pick up that thrown-away pear the GI wanted me to eat. I was very thin then, probably malnourished, certainly quite hungry. But I had not run after food like a dog. I had shown the American how even in misery, one can keep one’s pride.”</div>
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It served the young boy a lot of good to see to it that his mother was cared for by him all throughout her life, earning for himself some home-spun wisdom along the way. Coupled with being streetwise, the young Tony began his dream of a life even while in high school and college.</div>
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With more than ample resources from the sari-sari store, the young Tony ventured into being a driver of a passenger jeepney in his middle teens. It was, as he said, his first car. His job as driver and shopkeeper kept him busy all throughout the day, plying the Pandacan, Santa Ana and Paco routes. The hours he spent as college student of the University of the East he dedicated to studying until he made it into the Dean’s list.</div>
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No summer went by without seeing Tony on campus, between the pages of textbooks and inside classrooms. He was, at an early age, a man in a hurry. In three years, and at the age of 22, he was able to finish what was supposedly a four-year commerce course.</div>
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However, his attempt at being a certified public accountant proved disastrous for a time in Tony’s estimation. He had failed the first test. While on the verge of taking the second, his first business as a jeepney operator was already taking off.</div>
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But he had better things in mind than the meager return on investments he received from driving and operating a fleet of public-utility jeeps. Able to convince college friends to invest their money on a new venture—a pawnshop—Tony took on the reins of what would be a defining moment in his career as a businessman.</div>
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It cost him more than a hand and a limb: all of the P30,000 savings he garnered from operating a fleet of passenger jeepneys.</div>
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And so rose the Filipinas Pawnshop at the corner of Herran (currently Pedro Gil Street) and General Luna in Paco, Manila. It still stands today as an admirable tribute to the ingenious young man who knew how to turn his misfortunes into fortunes.</div>
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At the age of 26, Antonio L. Cabangon Chua was the youngest member of the Chamber of Pawnbrokers of the Philippines. He would decades later stand as the country’s diplomat to Laos and chairman emeritus of one of the country’s largest and most extensive business and media enterprises—the Antonio L. Cabangon Chua Group of Companies and the Aliw Media Group.</div>
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In honor of his mother’s memory, the ambassador shares his blessings through the Dominga L. Cabangon Memorial Foundation. With its goal of supporting needy children through education, the foundation has lent its hand in support of hundreds of scholars belonging to deserving children of his employees, also to priests seeking further education.</div>
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With this comes his homage to his good friend and first editor in chief of the Philippines Graphic, National Artist for Literature Nick Joaquin: the Quijano de Manila Foundation. The foundation’s aim is to offer financial assistance to the effort of developing young writers and children of journalists. The Philippines Graphic Nick Joaquin Literary Awards, now on its 25th year, seeks to enhance writers’ skills by empowering them with tools needed for the task.</div>
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“Whether you’re rich or poor, everyone has 24 hours in a day. It’s what you do with your 24 hours that counts. In life, you never give up.”</div>
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*Joel Pablo Salud is currently the editor in chief of the Philippines Graphic.</div>
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<br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-32441965353085887712016-01-29T19:16:00.000-08:002016-01-29T19:16:48.471-08:00John C. Maxwell: Are You Stretching toward Your Goals or Just Coasting?<img src="http://www.success.com/sites/default/files/styles/article_main/public/main/articles/Finish%20Strong_1.jpg?itok=C16M3Gnv" /><div>
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<span class="COLUMN-BIO_NAME" style="box-sizing: border-box;">Swimmer Michael </span><span class="COLUMN--INTRO-PARA" style="box-sizing: border-box;">Phelps</span> is arguably the greatest American Olympian and one of the greatest competitors of all time. In the 2008 Beijing summer games, Phelps won eight medals—all gold—to break the record for the most hardware ever captured in a single Olympiad and become the most decorated Olympian in history.</div>
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But it is the race that almost blew his winning streak that captivates me the most. It was his seventh contest, the 100-meter butterfly, and Phelps trailed for literally 99.9 meters of it. In the last fraction of a second, Phelps thrust his arms into one final, mighty stroke. Meanwhile, his Serbian competitor, Milorad ˇCavi´c, coasted the final few inches. Almost implausibly, Phelps tapped the wall first, beating ˇCavi´c by a mere one-hundredth of a second.</div>
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Most of us won’t experience such a heart-pounding, dramatic moment in our lifetimes, but we do make daily choices to either stretch or coast toward the finish lines we create for ourselves through personal goals. They’re often small decisions—routine things we don’t think about a lot—but they have the power to determine much of our success.</div>
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Reaching a finish line can be as simple as completing an “almost done” project or initiating a long-delayed and difficult conversation. Unfinished business can be disastrous. It drains your mental energy. It derails your goals. It impacts how you feel about yourself. And, critically, it can undermine your reliability in the minds of others.</div>
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Simply put: <a href="http://www.success.com/article/dont-procrastinate%E2%80%94talk-to-yourself" style="background-color: transparent; box-sizing: border-box; color: #337ab7; text-decoration: none;" target="_blank" title="Don't Procrastinate--Talk to Yourself | SUCCESS.com">Procrastination</a> is the enemy of progress.</div>
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Life is full of moments that require one more stretch to achieve success. If you don’t have the discipline to persevere, well, you’re going to end up like Phelps’ competitors—looking up at the winner from a lower podium (or worse). In the words of economist Thomas Sowell, “Doing 90 percent of what is required is one of the biggest wastes, because you have nothing to show for all your efforts.” Instead you must develop the habit of staying committed and finishing strong.</div>
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Here are some suggestions to help you do that:</div>
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Engage in brick-by-brick thinking.</h2>
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I confess: I have very little patience. I tend to want instant results. Still, I understand success requires daily progress. How do I solve this dilemma? With daily disciplines. I practice what might be called “brick-by-brick thinking.” My friend <a href="http://www.success.com/article/10-things-successful-people-never-do-again" style="background-color: transparent; box-sizing: border-box; color: #337ab7; text-decoration: none;" target="_blank" title="10 Things Successful People Never Do Again | SUCCESS.com">Henry Cloud, Ph.D.</a>, says, “All success is built and sustained just like a building is built, one brick at a time.” I practice regular disciplines every day, and these small, incremental actions turn into tangible steps toward success.</div>
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Amplify the reward.</h2>
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When you don’t feel like doing what you should, then focus on <em style="box-sizing: border-box;">why</em> finishing is important. The <em style="box-sizing: border-box;">why</em> can keep you motivated even when you lack desire. Motivation is fickle. You can’t depend on your emotions to keep you committed to your goals. So envision your end result and keep it in the forefront of your mind. How will you feel when you accomplish your goal? Why is it important to you? By focusing on the answers, you’ll stand a much better chance of reaching your goals.</div>
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Build structure and systems around your goals.</h2>
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Great intentions don’t get me very far. I need systems. They make it easier for me to stay disciplined. I have an insatiable hunger to learn, so I read every day. I want to stay fresh, so I file <a href="http://www.success.com/article/10-unforgettable-quotes-by-jim-rohn" style="background-color: transparent; box-sizing: border-box; color: #337ab7; text-decoration: none;" target="_blank" title="10 Unforgettable Quotes by Jim Rohn | SUCCESS.com">great quotes</a> and illustrations every day. I had a heart attack in my 50s, so I exercise by swimming every day. (Phelps’ Olympic records are safe, by the way.) My life is filled with systems that move me forward and push me to reach my wall.</div>
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Surround yourself with support.</h2>
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Over the years I have found that I am most successful when I tap into a network of people who support me and encourage me in my goals. When I need business advice, I talk to my brother Larry and my company’s key businesspeople. When I want to launch a new venture, I talk to my CEO, Mark Cole, and members of my inner circle. When I am ready to write a book, I meet with my creative team to brainstorm and vet ideas.</div>
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If you want to succeed, surround yourself with people who will help you, encourage you and, when necessary, hold your feet to the fire. Remember to choose wisely—your success largely depends on the company you keep.</div>
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Quitting isn’t an option.</h2>
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A great start is important, because all’s well that begins well. But it takes much more to reach your goals. I tend to think of it like farming: You can prepare the land immaculately and plant the seeds just right, but if you don’t water, fertilize and cultivate as you go, then you wasted your time by planting the crop. Remember the reward that awaits you—the fruit you will harvest—and it will help get you through the times of hard work in the “summer.”</div>
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When I was a kid, my father always told me, “When you made the choice to start, you made the choice to finish. It isn’t two choices… It’s one.” He taught me early that if you aren’t careful, quitting can become a habit. The good news is that finishing can also become a habit when you practice diligence in all that you do.</div>
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There’s an old saying, “The fortune is at the finish line.” It’s absolutely true. Why did Michael Phelps aggressively reach for the wall at that critical moment? Because he had practiced finishing strong every day of his life. And that made the difference between gold and silver.</div>
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Let’s learn from his lesson. And let’s remember that, oftentimes, the only thing separating us from success is a few inches. So don’t let up, and reach for the finish line!</div>
<em style="background-color: white; font-family: Helvetica, Arial, sans-serif; font-size: 14px; line-height: 27px;">Source: John C. Maxwell / http://www.success.com/article/john-c-maxwell-are-you-stretching-toward-your-goals-or-just-coasting</em><br /><br /></div>
<br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-48454199030285921632016-01-28T19:34:00.000-08:002016-01-28T19:34:55.646-08:00Battle over Cagayan de Oro airport: US base or new city center?<img alt="NEW CITY CENTER. Engineer Isidro Borja (left), Cagayan de Oro's top planning and development officer; and Eileen San Juan, the city's chief for Local Economics, Investment Promotion, discuss the planned Cagayan de Oro city expansion. Photo by Bobby Lagsa/Rappler. " src="http://assets.rappler.com/612F469A6EA84F6BAE882D2B94A4B421/img/FE11C9EA9EF24910B516C9DEF4FA34E6/lumbia-airport-bobby-lagsa_FE11C9EA9EF24910B516C9DEF4FA34E6.jpg" /><br />
<span style="background-color: white; color: #8b9293; font-family: Helvetica, Arial, sans-serif; font-size: 14px; line-height: 27px;">NEW CITY CENTER. Engineer Isidro Borja (left), Cagayan de Oro’s top planning and development officer; and Eileen San Juan, the city’s chief for Local Economics, Investment Promotion, discuss the planned Cagayan de Oro city expansion. Photo by Bobby Lagsa/Rappler.</span><br />
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CAGAYAN DE ORO CITY, Philippines – Is there a looming battle over the use of the old Lumbia airport?</div>
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The national government is not the only one eyeing the old airport, reportedly for use by the US military under the Enhanced Defense Cooperation Agreement (EDCA). The Cagayan de Oro city government has also expressed interest in developing 106 hectares of prime airport property in Barangay Lumbia.</div>
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The city’s top urban planners, with the help of the United Architects of the Philippines, created the Planned City Expansion (PCE) in Barangay Lumbia, an expansive uptown village deemed suitable for expansion as it is not prone to flooding and has potential as the new city center.</div>
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Cagayan de Oro Mayor Oscar Moreno said the PCE was conceptualized under the United Nation Habitat’s Achieving Sustainable Urban Development (ASUD) project with the assistance of Arcadis, a global design, engineering, and management consulting company.</div>
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The PCE covers 820 hectares of land including the Lumbia airport which is now under the control of the Philippine Air Force’s 10<span style="font-size: 10.5px; line-height: 0; position: relative; top: -0.5em; vertical-align: baseline;">th</span>Tactical Operations Group, though the land is owned by the Department of Transportation and Communications (DOTC).</div>
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<strong>New growth area</strong></div>
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Moreno said that the prime land, which is 180 meters above sea level, is a strategic area since future expansions under the Mindanao Logistics Infrastructure network (MLIN) pass through or near lumbia.</div>
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The MLIN is a long-term development plan for the road network in Mindanao. It includes new construction, and the upgrade and improvement of existing national roads and local roads.</div>
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All agencies, including the Department of Public Works and Highways, should use the MLIN plan as a guide for their own long and medium term development plans in the area covered by the plan.</div>
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<img alt="EXTENSION. The conceptual plan of the planned Cagayan de Oro city extension. Map courtesy of the CDO government " src="http://assets.rappler.com/612F469A6EA84F6BAE882D2B94A4B421/img/8EDEC88D0DF14991BAA334D176B99110/pce-map_8EDEC88D0DF14991BAA334D176B99110.jpg" /></div>
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<span style="color: #8b9293;">EXTENSION. The conceptual plan of the planned Cagayan de Oro city extension. Map courtesy of the CDO government</span></div>
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The MLIN is intended to be used as a reference for agencies involved in the development of the Mindanao transport network.</div>
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A new national road is being constructed that will connect Iligan City to Bukidnon.</div>
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Engineer Isidro Borja, chief of the City Planning and Development Office, said that the PCE will be the new growth area of the city with its cluster of areas for development.</div>
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“It is like a self-contained community where everything is there, without having to go to other places to work or study,” Borja said.</div>
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Last year, Christopher Rollo, ASUD country program manager for UN Human Settlement, said that if the expansion of the city is left unplanned and unchecked, it is likely to be driven by real estate market that favors development for the rich.</div>
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“In Lumbia, it is where everything can be put in place like public spaces can remain public, road network connected to other districts without being blocked by private ownership of lands,” Rollo said.</div>
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<strong>Mixed-use modern district</strong></div>
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Eileen San Juan, the city’s local economics and investment promotions chief said that she met with defense officials on January 11, 2016, to present the city’s PCE, which includes the Lumbia airport.</div>
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Moreno said the PCE was presented to President Benigno Aquino III and Cabinet officials as early as 2013 as part of the city government’s bid to promote the city.</div>
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San Juan said that the PCE is an exercise in urban planning which the city badly needed.</div>
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Under the PCE, there are 5 proposed clusters – Lumbia airport is under Prime Cluster A where local and national government offices are located.</div>
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“We will also replicate ‘Plaza Divisoria,’ which is a unique feature not found in any other city,” San Juan said.</div>
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Plaza Divisoria is a strip of 5 parks with statue of national hero Dr Jose Rizal, Andres Bonifacio, president Ramon Magsaysay, and mayor Justiniano Borja who first planned the city’s business district which Divisoria will be part of.</div>
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San Juan said the city wants a strategic and sustainable development node, a model for adaptive reuse, providing rural areas easy access to economic opportunities and social services.</div>
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“We want an institutional landmark with wide public parks and open space in harmony with medium to high density residential and commercial development which would showcase the city for livability and resilience,” San Juan said.</div>
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Borja said the PCE conforms with the approved Comprehensive Land Use Plan (CLUP).</div>
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“With the diverse housing market, low, medium, high end suitability for resettlement, this project will answer the housing shortage in the city,” Borja said.</div>
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<strong>Clusters</strong></div>
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San Juan said each cluster under the PCE is designed according to use.</div>
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<li style="line-height: 27px;">Cluster A: Institutional and mixed use</li>
<li style="line-height: 27px;">Cluster B: Farmstead/homestead villages</li>
<li style="line-height: 27px;">Cluster C: Medium-density residential with community facilities, health and education, low intensity commercial area with at least 20% social housing with connection to town center and public spaces</li>
<li style="line-height: 27px;">Cluster D: Residential villages in terraced fields, water retention ponds, soil erosion control and tourism activities with ecotourism (biking, trekking, adventure sports), mountain view resort with convention and meetings facilities</li>
<li style="line-height: 27px;">Cluster E: Agri-processing Complex with waste management facility, mixed use Low–medium end housing, commercial, community facilities, value chain-considered efficient access to raw materials and markets</li>
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<img alt="CLUSTERING. Cluster A is where local and national government offices would be located. Courtesy of the Cagayan de Oro city government " src="http://assets.rappler.com/612F469A6EA84F6BAE882D2B94A4B421/img/03148EE1C1DD4FF6B8F925EEBB213AC8/sample-cluster-of-lumbia-airport_03148EE1C1DD4FF6B8F925EEBB213AC8.jpg" /></div>
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CLUSTERING. Cluster A is where local and national government offices would be located. Courtesy of the Cagayan de Oro city government</div>
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Borja said the PCE was designed considering road traffic. “All major roads will be 30 meters wide, while other roads will be at least 10 meters wide, both with provisions for pedestrian and cycling lanes.”</div>
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“We wanted the PCE is to be as walkable as possible; we want it to be environmentally and people friendly,” Borja added.</div>
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<strong>Adjustments</strong></div>
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If EDCA enters into the picture and the airport is used by the US military, city officials said they would have to just adjust the design accordingly – but not without first exhausting efforts to convince the national government to favor the PCE.</div>
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Moreno said the long-term plan is for the common good.</div>
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“It is up to the national government if they’d allow the local government’s initial plan. We need them (national government) to cooperate because basically, the land belongs to to the Civil Aviation Authority and we cannot plan without them involved,” Moreno said.</div>
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Moreno added that the city government is taking steps to convince the national government on the expansion, as it is for the common good.</div>
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In its plan, residential areas will get 19.72% or 177.62 hectares; commercial area, 2.04% or 18.35 hectares; institutional 4.6% or 42.1 hectares; agro-industrial 2% or 17.87 hectares; mixed-used 15.8% or 142.9 hectares; commercial and transport facilities, 0.91% or 8.19 hectares; roads, 15.96% or 143.76 hectares; public spaces, 38.83% or 349.72 hectares.</div>
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“We will be expecting adjustments and needs to revisit the planning and resources needed to achieve our goal of the PCE,” San Juan said. <strong>–</strong> <strong>Rappler.com</strong></div>
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<i>Source: </i><em style="line-height: 20px;"><span lang="EN">Bobby Lagsa/ http://www.rappler.com/nation/120224-battle-lumbia-airport-us-base-cagayan-de-oro-city-center</span></em></div>
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<br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-55877824462238897102016-01-28T19:18:00.000-08:002016-01-28T19:18:34.477-08:00Affordable financing drives growth<span style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;">“Housing demand is always determined by housing finance,” said Januario Jesus Gregorio Atencio, III, 8990 Holdings,Inc. president, in defending developers’ need to have in-house financing for their projects. </span><br style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;" /><br style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;" /><span style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;"> Earlier, property consultant KMC-MAG expressed concern about the threat posed by developers’ focus on financing when their expertise is in construction. </span><br style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;" /><br style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;" /><span style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;">“When you build an econometric model for housing, on top of that is finance. The more accessible housing finance is, the more housing (projects) there will be,” said Atencio. </span><br style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;" /><br style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;" /><span style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;">“Finance is dictated by affordability. If housing finance is stopped, interest rates are high, entry requirements are high say at 20 percent down payment, then demand will be very small,” he added. </span><br style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;" /><br style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;" /><span style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;">Antton Nordberg, KMC MAG Group Inc.head of research, said apart from finance not being a core competency of developers, there is also no clear picture on the size of the in-house financing market which remains unregulated. </span><br style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;" /><br style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;" /><span style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;">“Overall, it’s been increasing quite fast,” he said, noting the Central Bank’s policy to scale back bank’s lending activity may have also contributed to the rise of in-house financing. </span><br style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;" /><br style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;" /><span style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;">“Why this is a problem (is because) developers’ core expertise is not necessarily in the financing of products but rather in the development. So there might be some serious underestimate(ion) in the credit worthiness of the home buyer since (this is) more of risk management than project development,” he added. </span><br style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;" /><br style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;" /><span style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;">Nordberg, however, was quick to point out that the risk is not an immediate threat. Still this could pose a problem should some external shocks arise. </span><br style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;" /><br style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;" /><span style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;">“It’s not really an issue right now but if there are some external shocks, it might cause some problem,” he said. </span><br style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;" /><br style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;" /><span style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;">Atencio said while developers should not be bankers, as KMC-MAG, they will undertake initiatives to move housing forward. </span><br style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;" /><br style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;" /><span style="background-color: white; font-family: HelveticaNeue, 'Helvetica Neue', Helvetica, Arial, 'Lucida Grande', sans-serif; font-size: 13.3333px;">Atencio said state-housing fund Pag-IBIG had been successful in lowering the cost of housing for buyers through lower interest rate and lower premiums, making housing more affordable,” </span><br />
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<span lang="EN-PH" style="font-size: 10pt;">By ALBERT CASTRO/January 28, 2016/</span><span lang="EN-PH" style="font-size: 10pt;"> </span><span lang="EN-PH" style="font-size: 10pt;">http://www.malaya.com.ph/<wbr></wbr>business-news/special-<wbr></wbr>features/affordable-financing-<wbr></wbr>drives-growth</span></div>
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<span lang="EN-PH" style="font-size: 10pt;">Affordable housing finance remains a key in propelling the growth of the housing sector. </span></div>
<br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-40473361257510351472016-01-28T19:12:00.000-08:002016-01-28T19:12:38.128-08:009 trending local cities this year<div class="MsoNormal" style="background-color: white; color: #222222; font-family: arial, sans-serif; font-size: 12.8px; margin-bottom: 0.0001pt;">
<span style="font-size: 10pt;">Property analysts and experts forecast that developers will continue to pursue township developments in and outside Metro Manila in 2016. Now, where could these, and other types of developments be? Here are the nine likeliest urban locations:</span></div>
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<span style="font-size: 10pt; line-height: 14.2667px;"><br />1 Cavite. Colliers International Philippines cites three reasons Cavite is on developers’ maps:</span></div>
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<li class="MsoNormal" style="margin: 0px 0px 0px 15px;"><span style="font-size: 10pt;">Cavite has been known as a suburban support area to Metro Manila. With its relatively cheaper housing costs, Cavite has drawn within its boundaries hundreds of thousands, who still commute daily to their workplaces within Metro Manila.</span></li>
<li class="MsoNormal" style="margin: 0px 0px 0px 15px;"><span style="font-size: 10pt;">Numerous infrastructure projects recently launched will allow Cavite to flourish. The LRT-1 extension project will end in Bacoor; the government has now started the bid for LRT-6 which will further extend the LRT line from Bacoor to Dasmariñas City. Furthermore, the 44-kilometer Cavite-Laguna Expressway (Calax) project will provide necessary access to growth areas in Cavite.</span></li>
<li class="MsoNormal" style="margin: 0px 0px 0px 15px;"><span style="font-size: 10pt;">With the completion of the Muntinlupa-Cavite Expressway (MCX), a toll road which connects the South Luzon Expressway (SLEx) to Daang Hari, property values in the area are foreseen to escalate rapidly. The new toll road will spur rapid development in emerging master-planned communities such as Vista Land’s Vista City and Ayala Land’s Vermosa Estate, which have the potential to establish themselves as full-blown central business districts (CBDs).</span></li>
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<span style="font-size: 10pt;">Property portal Lamudi Philippines, in its 2016 top cities list, shares eight more locations that will benefit from real estate investments.</span></div>
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<span style="font-size: 10pt;"><u>2 Quezon City</u>. The population of Metro Manila’s largest city is projected to grow to more than 3.5 million by 2020, with many looking into relocating there. Quezon City properties are relatively more affordable compared to Makati and Taguig, and offers plenty of options to homebuyers.</span></div>
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<span style="font-size: 10pt;"><u>3 Makati</u>. The country’s foremost financial and business district won’t be outdone, even if the average rental rate in its CBD is expected to decrease 3.39 percent year-on-year by the third quarter of 2016, vacancies to increase to 10.19 percent across all condo grades. Fringe areas, however, are starting to see an uptick in real estate activity, particularly Barangay San Antonio, near Ayala Avenue. “Worsening traffic conditions in Metro Manila are making these areas attractive to renters and homebuyers,” said Lamudi.</span></div>
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<span style="font-size: 10pt;"><u>4 Taguig</u>. “Taguig’s population is projected to reach almost one million by 2020, which will make it the National Capital Region’s fourth more populous (after Quezon City, Caloocan and Manila) and the country’s 9th. The city’s real estate sector has been on an upswing ever since Fort Bonifacio was privatized,” noted Lamudi. It added that several projects now are underway: Megaworld’s McKinley West and Ayala Land’s Arca South. Access to and from the airport (particularly Terminals 1 and 2) and to Coastal Road will also improve when the flyover connecting CP Garcia Avenue to the Moonwalk Access Road and West Service Road is finally completed.</span></div>
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<span style="font-size: 10pt;"><u>5 Pasay</u>. This city is gaining prominence because of: 1) Bay City—the reclamation area along Manila Bay housing the Mall of Asia Complex, Entertainment City—and Aseana City; 2) The SM group has already incorporated office and residential components in the MOA complex; 3) Federal Land is set to complete its Six Senses Residences in 2016 and its first tower in the Palm Beach project in 2017; 4) Improved infrastructure when the Naia Expressway connecting the Metro Manila Skyway to the Manila-Cavite Expressway and Entertainment City, is finally completed.</span></div>
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<span style="font-size: 10pt;"><u>6 Bacolod</u>. In mid-2015, Lamudi data showed that Bacolod had become among the most popular cities among online property hunters. In fact, real estate giant Megaworld announced in late 2015 that it was building two integrated townships in the city (the 50-hectare Northill Gateway and the 34-hectare The Upper East), while Ayala Land has sealed an agreement with the provincial government of Negros Occidental to build the mixed-use Capitol Central.</span></div>
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<span style="font-size: 10pt;">7 Davao. Davao remains southern Philippines’ economic and business center, and one of the most searched cities in the Lamudi website in 2015. Its population is projected to balloon to 1.83 million by 2020. Davao is also consistently among the most searched by online property hunters, and the sixth and third most searched city by property hunters based in the United States and Saudi Arabia, respectively, according to Lamudi data.</span></div>
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<span style="font-size: 10pt;"><u>8 Cebu</u>. Cebu City is one of Tholons’ top 10 outsourcing destinations in the world (and second in the Philippines behind Metro Manila). According to CB Richard Ellis Philippines, exciting expansions and new developments are coming in over the next few years. In 2015 alone, two new large malls opened in the city, SM Seaside City Cebu and Robinsons Galleria Cebu. SM Seaside alone has an area of 10-15 hectares devoted to commercial development, similar to the E-com office towers in the MOA complex, while Robinsons Galleria will have entire floors dedicated to BPO offices.</span></div>
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<span style="font-size: 10pt;"><u>9. Muntinlupa</u>. The south of Metro Manila, specifically Muntinlupa, is also projected to perform well this year, with the launch of several high-profile projects from the country’s biggest developers, one of which is Avida’s South Park District, a mixed-use development sitting on the former Nestlé plant in Alabang, in addition to the established Filinvest and Madrigal business districts. Further, in anticipation of infrastructure projects expected to ease travel to the south, property developers, including Rockwell subsidiary Rockwell Primaries, and Vista Land are now eyeing Muntinlupa as their next focus area.</span></div>
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<span style="color: windowtext; font-size: 10pt; font-weight: normal;"><i>Source: By: <span style="color: windowtext;">Tessa R. Salazar </span>/ <span style="color: windowtext;">http://business.inquirer.net/<wbr></wbr>206043/9-trending-local-<wbr></wbr>cities-this-year</span></i></span></h4>
<br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-31195293697821211492016-01-26T23:04:00.000-08:002016-01-26T23:04:08.939-08:00Elections to affect real estate activity; oversupply in vertical residential segment<div style="background-color: white; color: #8b9293; font-family: Helvetica, Arial, sans-serif; font-size: 14px; line-height: 27px; margin-bottom: 20px;">
AS THE PHILIPPINES “goes bananas” in an election year—in the year of the monkey at that—property experts see a number of challenges, and likely trends, flavoring and coloring the real estate industry in 2016. Here’s their fearless forecast:</div>
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<li style="line-height: 27px;">There will be an oversupply in the mid-market vertical residential segment.</li>
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“I expect 2016 to be the most challenging year for the residential property sector. A looming oversupply in the mid-market vertical residential segment in Metro Manila is developing, and developers should expect a slowdown by as much as 10 percent in the average annual take-up rate of 50,000 units. Several developers are already holding back sales of new projects until supply balances out in 2018,” said Enrique M. Soriano III, Ateneo program director for real estate and senior adviser for Wong+Bernstein Business, in an Inquirer Property interview.</div>
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Soriano said that with this oversupply scenario, “we will naturally anticipate vacancy rates to go up in 2016 to double digits in the Makati and Ortigas CBD (central business district) area.”</div>
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<li style="line-height: 27px;">The 2016 presidential elections will affect the market. Soriano said the presidential and national elections “is likewise expected to freeze any major real estate activity in the first two quarters of 2016. Naturally, investor sentiment will be on a wait-and-see attitude. This will not bode well for the property sector and the economy as a whole. Hopefully, after the elections, it will be followed by a possible uptick in transaction levels in the last two quarters of 2016,” said Soriano.</li>
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<li style="line-height: 27px;">Business process outsourcing (BPO) growth continues. BPO companies, according to property portal Lamudi Philippines, will continue to buoy Metro Manila’s commercial real estate.</li>
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“Experts do not foresee the supply of office space surpassing demand soon, meaning commercial properties (and offices in particular) remain a beneficial investment for 2016,” said Lamudi</div>
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Philippines in a statement.</div>
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Soriano said that in 2016, Grade-A office rents in prime areas is expected to increase 5 percent, given strong demand for office space and low vacancy rates. Meanwhile, rents in non-CBD areas may slightly drop by 5 percent due to available supply in Makati and Bonifacio Global City.</div>
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<li style="line-height: 27px;">Metro Manila land values will go up. Lamudi Philippines said that despite slower gross domestic product growth in 2015, land values still continue to appreciate, albeit at a slower pace.</li>
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Colliers International said that growth rates of land values in Metro Manila accelerated in the second quarter of 2015. In addition, land values in the Makati CBD, growing at only 0.85 percent during the first three months of the year, rebounded in the next three by growing at a rate of 2 percent. This raised the area’s average price to P452,704 per square meter. Values similarly rose in the business districts of Fort Bonifacio and Ortigas Center, increasing at 1.97 and 2.1 percent, respectively.</div>
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<li style="line-height: 27px;">Retail property market will face a slowdown. Soriano said “the challenging retail environment is likely to persist next year due to diminishing inbound tourist arrivals. We expect prime rents outside of the shopping centers to slide by 10 percent in 2016, while shopping mall spaces are expected to escalate.”</li>
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“We can also expect a decline in premium retail market rents due to the expected drop in tourist arrivals as a result of the national elections happening in the first half of 2016. The mass retail market is expected to remain resilient as domestic consumption continue to grow, fueled partly by election spending nationwide,” said Soriano.</div>
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<em>Source: by Tessa R. Salazar / http://business.inquirer.net/204872/elections-affect-real-estate-activity-oversupply-vertical-residential-segment</em></div>
<br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-59634101942900908362016-01-21T22:52:00.000-08:002016-01-21T22:52:00.373-08:00Construction in full swing: Commercial sector shows no signs of slowing down as developers off to a strong start this 2016<div style="background-color: white; color: #262626; font-family: 'Goudy Bookletter 1911'; font-size: 21px; line-height: 29px; margin-bottom: 23px;">
IF the latter part of 2015 and the first quarter of this year would be any indication of how busy and vibrant the entire 2016 will be for the Philippine real-estate sector, it would be safe to say that we’re likely bound to surpass the milestones of the past year.</div>
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While the residential sector has been reaping the fruits of continued investments over the past few years, players within the commercial development sector, most notably, are now starting to enjoy an increasing growth momentum as more and more developers venture outside of Metro Manila.</div>
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ArthaLand and Robinsons Land Corp. (RLC), for example, have both began strengthening their presence in Cebu, which has earned the reputation as the most vibrant investment destination in the Visayas. ArthaLand plans to promote its sustainable building culture by putting up an “energy-efficient and environmentally sustainable office building” also in Cebu City. The company recently acquired a property in Cebu via its subsidiary, Cebu Levana Land Corp., and plans to offer approximately 51,000 square meters of office space for the region’s offshoring and outsourcing sector (O&O) players.</div>
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Meanwhile, the latest Philippine Property Market Monitor from Jones Lang LaSalle reported that RLC is set to inaugurate an office building in Cebu City, which will take up about 30 percent of its 4.6-hectare property that also houses the recently opened Robinsons Galleria Cebu. This is deemed to be a welcome development for commercial locators in Cebu, particularly for those engaged in its O&O, as the facility will be offering a GFA of close to 9,500 sq m.</div>
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<strong>Booming growth beyond Metro Manila</strong></div>
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Back in Luzon, developers are also keen on building the next thriving investment districts outside of Metro Manila. In Clark at Northern Luzon, construction activities will likely hit a record high in the months to come following the recent announcement of two massive development projects: Global Gateway Development Corp.’s (GGDC) Aeropark Campus and the 35,000-hectare Clark Green City.</div>
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The $150-million Aeropark Campus, one of the more remarkable investments initiated by Kuwaiti investors GGDC, promises to be a major development that will help shift the focus of growing industries away from Metro Manila. The project, which will host more than 5.8 million sq m of premium office, logistics, retail, hotel and residential space, is expected to generate at least 10,000 jobs during the first few years of its operations. That number is seen to balloon to at least 300,000 jobs once the entire project is completed. Clark Green City (CGC), meanwhile, is seen to lure more foreign investors as state-owned Bases Conversion and Development Authority (BCDA) continues to facilitate development for the 9,450-hectare master-planned property inside the Clark Special Economic Zone. Once completed, the entire CGC has the potential to generate a gross output of at least P1.57 trillion annually, apart from facilitating the continued growth of more areas in Northern and Central Luzon.</div>
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<strong>Supply more than meets current demand</strong></div>
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The abundance of office spaces in other areas within Metro Manila continues to complement the increasing demand and confidence of local and foreign investors.</div>
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A recent insight shared by experts from Jones Lang LaSalle revealed that, as we speak, there’s a total of 1 million sq m of available office space spread out among areas like Makati City, Ortigas, Bonifacio Global City, reclaimed areas in Manila Bay, and Alabang in Muntinlupa. Of this grand total, at least 15 percent to 20 percent will be taken up by business-process outsourcing (BPO) companies, as established firms expand their operations and new players come in. All of these developments confirm the earlier analysis made by Lamudi Inc. Founder and Managing Director Jacqueline van den Ende, who was among the thought leaders I spoke to for one of my trend reports prior to the end of 2015. “Developers are looking to go provincial due to the increasing scarcity of available land.</div>
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A couple of very big projects are being launched, especially in Cebu and in other provinces.…The office market in Manila will continue to be very strong. We see a lot of strata-titled office developments launched this year, which I think will be huge in 2016. Metro Manila’s office market is tight with very few properties coming online.</div>
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This is especially true in non-BPO-type offices. This presents an opportunity for investors.” We’re definitely on the lookout for how all these exciting developments will shape up this year. Great times ahead, everyone!</div>
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<i style="color: #262626; font-family: 'Goudy Bookletter 1911'; font-size: 21px; line-height: 29px;">Source: </i><span style="background-color: transparent; font-size: 21px; line-height: 29px;"><span style="color: #262626; font-family: Goudy Bookletter 1911;"><i>http://www.businessmirror.com.ph/construction-in-full-swing-commercial-sector-shows-no-signs-of-slowing-down-as-developers-off-to-a-strong-start-this-2016/</i></span></span></div>
<br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-14282378598201786742016-01-21T19:54:00.002-08:002016-01-21T19:54:57.027-08:00LESSONS LEARNED IN 2015<span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">Property portal Lamudi said 2015 was a good year for Philippine real estate. </span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">In the first part, we gave a rundown of 12 of the 25 lessons in property development in 2015.</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">The remaining 13 are as follows:</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">13. Forbes Park is the most expensive subdivision in the Philippines</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">Average monthly rents in the very exclusive Forbes Park—home to business tycoons, foreign dignitaries, and boxing icons—stand at Php402,459, making the enclave the most expensive area to rent a</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">house anywhere in the Philippines.</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">15. Filipino-Americans prefer houses</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">Despite the condo boom happening in Metro Manila and other major cities across the Philippines, it seems that many Filipinos based in the United States still prefer to purchase houses, at least according to</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">January–June 2015 search data from Lamudi. More than half (57.83 percent) of all searches in the Lamudi website were for houses, followed by condos (16.58 percent). The most searched cities? Quezon</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">City, Makati, Manila, Tagaytay, and Baguio, in this particular order.</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">16. Cities affordable for first-time homebuyers</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">There are cities surrounding Metro Manila abound with affordable options for first-time homebuyers. These cities include San Jose Del Monte, Bulacan, where average home price stands at Php495,999; and followed by San Mateo, Rizal (Php549,259); Dasmariñas, Cavite (Php1.189 million); Imus, Cavite (Php1.858 million); Bacoor, Cavite (Php2.777 million); Antipolo, Rizal (Php3.668 million); Santa Rosa, Laguna (Php4.16 million).</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">17. Condos close to train stations are more expensive</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">An average condo located within 100 meters of an MRT station is at least Php16,645 more expensive per square meter than a similar, newly built condo situated more than 500 meters away, according to</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">listings data from Lamudi.</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">18. Ayala Center, Century City, and Rockwell Center lead most expensive list</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">Ayala Center—the commercial core of the Makati CBD—commands the most expensive condo rent per sqm than any area Metro Manila. Living in the area, which is within striking distance of Greenbelt, Glorietta, and most of Makati’s luxury hotels, can set a renter back Php1,144 per sqm per month, meaning a 100-sqm condo here can command monthly rent of more than Php110,000. Following Ayala Center are Century City and Rockwell Center in Makati’s Poblacion area, where condos command monthly rents </span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">of Php986 and Php973 per sqm, respectively.</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">19. Pricier condos are not necessarily bigger</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">On a per-square-meter basis, more expensive condos do not necessarily mean bigger space. Areas where condos are on average bigger are actually cheaper on a per-sqm basis. These areas include Ayala Triangle/Apartment Ridge, where condos average 275 sqm and where monthly rents average Php568 per sqm. This area is followed by Salcedo Village, where the average size of condos is 126 sqm and average monthly rent stands at Php652 per sqm. In contrast, in the Mall of Asia Complex and Newport City, the average sizes of condos are 34 and 50 sqm, but monthly rents average Php850 and Php785 per sqm, respectively.</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">20. Caloocan will be the second most populous city by 2020</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">The City of Manila will be overtaken by nearby Caloocan as the Philippines’ second most populous city by 2020. This is according to an analysis by Lamudi using the annual average population growth rate issued by the Philippine Statistics Authority in 2010. Caloocan’s projected 2020 population will be 1.88 million, compared to Manila’s 1.72 million.</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">21. Eleven PH cities will have populations of more than 1 million by 2025</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">Using the annual population growth rates recorded in 2010, 11 cities in the Philippines are projected to have populations of more than 1 million. These are Quezon City (3.95 million), Caloocan (2.115 million), Davao City (2.056 million), Manila (1.76 million), Dasmariñas (1.27 million), Antipolo (1.25 million), Zamboanga City (1.25 million), Cebu City (1.14 million), Taguig (1.12 million), Bacoor (1.11 million), and Pasig (1.022 million).</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">22. Can BPO workers afford condos?</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">With an average monthly salary of Php22,500, entry-level customer care representatives cannot afford to rent a condo in either of these “affordable” areas: Eastwood City, Pioneer-EDSA, Poblacion (Makati), and San Antonio (Makati), where average rents range from Php19,838 to Php22,563 per month. Using the 30 percent rule (spending not more than 30 percent of one’s monthly income on housing), only those working as managers, with an average compensation of Php75,000 per month, may only afford to rent a condo in these select areas.</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">23. How long Filipinos should work to buy a home</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">A salaried Filipino with more than 20 years of work experience and earning Php1.43 million per year may need 128 years’ worth of his salary in order to afford a house in Makati where average home price stands at Php184 million. In contrast, this same person needs 4.16 months’ worth of his annual salary in order to afford a home in San Jose Del Monte, Bulacan, where the average home price is Php495,999.</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">24. Are Filipinos buying or renting?</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">Based on its third quarter 2015 search data, Lamudi found that there is an almost equal proportion of renters and buyers among 18- to 24-year-old online property-hunters (50.2 percent for rent versus 49.8 percent for sale). Quite interestingly, there is a tendency for property-hunters to check out for-sale properties online as they get older. Among 25- to 34-year-old users, 57.3 percent are checking out for-sale properties. In the 35–44, 45–54, and 55–64 age groups, it is even higher; 70.8, 72.6, and 71.1 percent of the website’s users, respectively, are checking out for-sale properties.</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">25. Most sought-after locations for land</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">Quezon City, Tagaytay, and Baguio are the top three most popular locations among property-hunters looking for land online. These cities are followed by Davao and Antipolo. “Clearly there are cities preferred by people researching about land for sale online, and we hope these findings will give real estate developers insight into how to properly plan their next projects,” said Lamudi. In addition, the fact that only five Metro Manila cities were in the top 10 indicate that Filipinos are not too keen into buying residential land within the National Capital Region, either due to lack of supply, unaffordability, or both.</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br />
<i>Source: http://www.malaya.com.ph/business-news/special-features/lessons-learned-2015</i><br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-38580814260918088002016-01-21T19:14:00.000-08:002016-01-21T19:14:32.783-08:00PROPERTY SECTOR GROWTH SLOWDOWN SEEN<span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">Brokerage firm Colfinancial.com sees a slowdown in the property sector in 2016 after years of robust expansion.</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">The online brokerage firm noted this is particularly true in the residential market.</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">“Take-up sales of residential properties continue to grow annually. However, the pace of growth has been slowing down since 2014 given the high base effect,” it said. </span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">“This year, we expect growth to remain slow as take up sales in 2015 remain substantial. Aside from high-base effect, as risk to growth this year is the slowing growth of OFW remittances,” it added. </span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">Colfinancial.com noted that in the first 10 months of last year, remittances from overseas Filipinos increased by only 3.7 percent to $20.6 billion from an average of around 7 percent in the past five years.</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;"> This should a big consideration in the property market, according to the brokerage firm, given that the average contribution of OFW sales to take-up sales is around 31.5 percent. </span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">“Another possible, albeit small, risk to demand is higher interest rates. Local bond yields have increased following the rate hike by the Federal Reserve of the United States in December of 2015 and</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">expectations of more rate hikes,” Colfinancial.com said.</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;"> “However, according to our banking analyst, lending rates are not expected to mirror the increase in bond yields due to ample liquidity conditions and intense competition among banks. Moreover, the Federal</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">Reserve has repeatedly said that the rate hike cycle will be slow,” it added.</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;"> Colfinancial.com said any increase in lending rates will be very small and not enough to significantly dampen demand for real estate. </span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">The brokerage firm also assured that the risk of a glut is low.</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;"> “For the first nine months of 2015, takeup sales of leading property developers outpaced launches. This indicates that sales are not primarily driven by new launches and that there is enough demand to</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">absorb developers’ existing inventory. This also indicates that developers are disciplined enough to continuously monitor the demand- supply situation and are careful not to flood the market with supply,” it</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">said.</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;"> The office space segment meanwhile continues to benefit from the good prospects of the business process outsourcing sector. </span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">“The depreciation of the peso last year also gives international companies greater incentive to move backroom operations to the Philippines,” it added. </span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">Colfinancial.com said the growth in demand will be able to absorb incoming supply. </span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">“According to Colliers, office supply will grow at a CAGR (compounded annual growth rate) of 8 percent from 7 million sq uare meters in 2014 to 9.5 million sqm by 2018. Meanwhile, IBPAP (Information</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">Technology Business Processing Association of the Philippines) expects the BPO (business process outsourcing) sector to have 1.3 million full-time employees by 2016, up by a CAGR of 14 percent from 1 million in 2014,” it said.</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;"> “Even if growth rate of full-time employees drops to half in 2017 and 2018, we believe it will still be enough to fill the incoming supply,” it also said.</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;"> Colfinancial.com meanwhile said outlook for the commercial leasing segment remains positive as retailers continue to expand, creating demand for retail space. </span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">“The improvement in the economy is also resulting to an increase in the number of casual dining outlets. Economic growth and stability has led to the increase in the frequency of people dining out rather than</span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">eating at home, thus creating demand for more casual dining outlets. This serves as a big driver of demand for commercial space,” it said. </span><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><br style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px;" /><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">“With this in mind, we expect vacancy rates to remain low and same store/ mall sales to remain on an upward trajectory,” Colfinancial.com added.</span><br />
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<span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">Source: </span><span style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px;">By </span><span rel="sioc:has_creator" style="background-color: white; font-family: Arial; font-size: 12px; line-height: 18px; margin: 0px; padding: 0px; text-align: justify;"><span about="/users/albert-castro" class="username" datatype="" property="foaf:name" style="margin: 0px; padding: 0px;" typeof="sioc:UserAccount" xml:lang="">ALBERT CASTRO / http://www.malaya.com.ph/business-news/special-features/property-sector-growth-slowdown-seen</span></span><br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-80813875765752455662016-01-19T21:13:00.001-08:002016-01-19T21:13:45.921-08:00BPOs in smaller cities keep PHL competitive says A.T. Kearney<br />
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<span style="font-weight: normal;">HE PHILIPPINES remained the seventh most attractive country in the world for offshored jobs, as companies discover competitive labor supply in tier-3 cities, according to a report by consultancy A.T. Kearney.</span></h4>
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<span style="background-color: white; color: #555555; font-family: Verdana, helvetica, sans-serif, arial; font-size: 12px;">“India and the Philippines are still top of mind when it comes to offshoring, but the hunt for new talent is now taking companies beyond the capital and major cities to tier 3 locations such as... Bacolod and Iloilo City,” read the 2016 A.T. Kearney Global Services Location Index (GSLI).</span><br style="background-color: white; color: #555555; font-family: Verdana, sans-serif, helvetica, arial; font-size: 12px; margin: 0px; padding: 0px;" /><br style="background-color: white; color: #555555; font-family: Verdana, sans-serif, helvetica, arial; font-size: 12px; margin: 0px; padding: 0px;" /><span style="background-color: white; color: #555555; font-family: Verdana, helvetica, sans-serif, arial; font-size: 12px;">The Philippines can complement its traditional business process outsourcing (BPO) skills with the “requisite soft skills that machines cannot replace,” making it “clearly better positioned” than others.</span><br style="background-color: white; color: #555555; font-family: Verdana, sans-serif, helvetica, arial; font-size: 12px; margin: 0px; padding: 0px;" /><br style="background-color: white; color: #555555; font-family: Verdana, sans-serif, helvetica, arial; font-size: 12px; margin: 0px; padding: 0px;" /><span style="background-color: white; color: #555555; font-family: Verdana, helvetica, sans-serif, arial; font-size: 12px;">The country retained its 7th place after a total score of 5.88 out of 10. The 55 countries were assessed based on three major categories, with Manila scoring 3.17 on financial attractiveness, 1.43 on people skills and availability, and 1.29 on business environment.</span><br style="background-color: white; color: #555555; font-family: Verdana, sans-serif, helvetica, arial; font-size: 12px; margin: 0px; padding: 0px;" /><br style="background-color: white; color: #555555; font-family: Verdana, sans-serif, helvetica, arial; font-size: 12px; margin: 0px; padding: 0px;" /><span style="background-color: white; color: #555555; font-family: Verdana, helvetica, sans-serif, arial; font-size: 12px;">Manila placed behind India (6.96), China (6.49), Malaysia (6.05), Brazil (6), Indonesia (5.99) and Thailand (5.92).</span><br style="background-color: white; color: #555555; font-family: Verdana, sans-serif, helvetica, arial; font-size: 12px; margin: 0px; padding: 0px;" /><br style="background-color: white; color: #555555; font-family: Verdana, sans-serif, helvetica, arial; font-size: 12px; margin: 0px; padding: 0px;" /><span style="background-color: white; color: #555555; font-family: Verdana, helvetica, sans-serif, arial; font-size: 12px;">“The Philippines is second only to India as a player in the global outsourcing industry, where it began in contact centers and gradually climbed the value chain to now incorporate most functions in BPO and IT (information technology),” read the report.</span><br />
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<span style="background-color: white; color: #555555; font-family: Verdana, helvetica, sans-serif, arial; font-size: 12px;">Since 2014, the Philippines has improved in infrastructure, environment, and tax and regulatory costs.</span><br style="background-color: white; color: #555555; font-family: Verdana, sans-serif, helvetica, arial; font-size: 12px; margin: 0px; padding: 0px;" /><br style="background-color: white; color: #555555; font-family: Verdana, sans-serif, helvetica, arial; font-size: 12px; margin: 0px; padding: 0px;" /><span style="background-color: white; color: #555555; font-family: Verdana, helvetica, sans-serif, arial; font-size: 12px;">The report said “significant” recent offshoring activities include the opening of Accenture’s third delivery center in the country, located in Ilocos, to complement its Manila and Cebu operations.</span><br style="background-color: white; color: #555555; font-family: Verdana, sans-serif, helvetica, arial; font-size: 12px; margin: 0px; padding: 0px;" /><br style="background-color: white; color: #555555; font-family: Verdana, sans-serif, helvetica, arial; font-size: 12px; margin: 0px; padding: 0px;" /><span style="background-color: white; color: #555555; font-family: Verdana, helvetica, sans-serif, arial; font-size: 12px;">Convergys and Sutherland are also expanding their Davao contact centers to generate as many as 4,000 new jobs.</span><br style="background-color: white; color: #555555; font-family: Verdana, sans-serif, helvetica, arial; font-size: 12px; margin: 0px; padding: 0px;" /><br style="background-color: white; color: #555555; font-family: Verdana, sans-serif, helvetica, arial; font-size: 12px; margin: 0px; padding: 0px;" /><span style="background-color: white; color: #555555; font-family: Verdana, helvetica, sans-serif, arial; font-size: 12px;">The GSLI noted the advantages of tier-3 cities include affordable real estate and available labor with lower cost and attrition rates.</span><br style="background-color: white; color: #555555; font-family: Verdana, sans-serif, helvetica, arial; font-size: 12px; margin: 0px; padding: 0px;" /><br style="background-color: white; color: #555555; font-family: Verdana, sans-serif, helvetica, arial; font-size: 12px; margin: 0px; padding: 0px;" /><span style="background-color: white; color: #555555; font-family: Verdana, helvetica, sans-serif, arial; font-size: 12px;">“Many of these cities have a highly developed educational infrastructure, ensuring fresh crops of qualified graduates for the foreseeable future.”</span><br />
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<span style="background-color: white; color: #555555; font-family: Verdana, helvetica, sans-serif, arial; font-size: 12px;"><br /></span><span style="font-weight: normal;"><i><span style="background-color: white; color: #555555; font-family: Verdana, helvetica, sans-serif, arial; font-size: 12px;">Source: </span><span style="background-color: white; color: #004276; font-family: Verdana, sans-serif, helvetica, arial; font-size: 10px;">By </span><span style="background-color: white; color: #004276; font-family: Verdana, sans-serif, helvetica, arial; font-size: 10px; margin: 0px; padding: 0px;">Daphne J. Magturo</span><span style="background-color: white; color: #004276; font-family: Verdana, sans-serif, helvetica, arial; font-size: 10px;">, </span><span style="color: #004276; font-family: Verdana, sans-serif, helvetica, arial;"><span style="font-size: 10px;">http://www.bworldonline.com/content.php?section=Economy&title=bpos-in-smaller-cities-keep-phl-competitive----a.t.-kearney&id=121530</span></span></i></span></h4>
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<br /><br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-44471680644797219592016-01-19T21:05:00.000-08:002016-01-19T21:05:06.414-08:00Iloilo and Bacolod emerge as top Tier 3 sites for outsourcing firms<div style="background-color: white; color: #262626; font-family: 'Goudy Bookletter 1911'; font-size: 21px; line-height: 29px; margin-bottom: 23px;">
WHILE India and the Philippines remain the top countries for offshoring, an A.T. Kearney study revealed companies are looking to locating in Tier-3 sites outside these nations’ capitals.</div>
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“While India and the Philippines are still top of mind when it comes to offshoring, the hunt for new talent is now taking companies beyond these countries’ capitals and major cites to Tier-3 locations, such as Surat, Nagpur, and Lucknow in India; and Bacolod and Iloilo City in the Philippines,” A.T. Kearney’s New York partner Arjun Sethi was quoted in a news statement as saying.</div>
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Sethi based his statement on the recently released 2016 Global Services Location Index (GSLI) by the management consulting firm. The report shows India and the Philippines unchanged in the index from the 2014 ranking at No. 1 and No. 7, respectively.</div>
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A.T. Kearney ranks countries to arrive at its GSLI according to financial attractiveness (FA), people skills and availability (PS&A) and business environment (BE).</div>
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India’s FA score of 3.22, while lower than Indonesia—also unchanged at No. 5, is still higher than the Philippines’s 3.17 score. The Philippines’s PS&A score of 1.43, while higher than Malaysia’s 1.42 score, pales in comparison to India’s 2.55 PS&A score. Malaysia and China, to note, also remained unchanged from their 2014 ranking of No. 2 and No. 3, respectively.</div>
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But the Philippines’s BE score of 1.29 beats India’s 1.19. “Since the 2014 GSLI, the Philippines has registered gains in its scores in infrastructure, environment and tax and regulatory costs,” the report, titled “On the Eve of Disruption,” said.</div>
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The report added that companies are looking at Tier-3 cities in the Philippines as location for offshoring because of the advantages these sites offer. “One advantage of Tier- 3 cities is the relative affordability of real estate. Another advantage is the relative availability of labor, its lower cost and lower attrition rates,” the report said.</div>
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Now on its seventh edition since 2004, the 2016 GSLI “helps companies make key location decisions for offshoring and industry development projects with objective guidance,” A.T. Kearney said.</div>
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The 55 countries in the 2016 index—four new countries have been added this year—are selected based on corporate input, current remote services activity, and government initiatives to promote the sector, the consulting firm added.</div>
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<em>Source: By Daphne J. Magturo / http://www.bworldonline.com/content.php?section=Economy&title=bpos-in-smaller-cities-keep-phl-competitive—-a.t.-kearney&id=121530</em></h5>
<br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-6786134760251479892016-01-12T22:58:00.000-08:002016-01-12T23:02:36.560-08:00No real estate bubble – BSP<div style="background-color: white; font-family: Arimo, sans-serif; font-size: 13.1198px; line-height: 19.6796px; margin-bottom: 1.2em;">
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MANILA, Philippines - Initial results of stress tests conducted by banks validated the assessment made by the Bangko Sentral ng Pilipinas (BSP) that there are no risks from the real estate market.</div>
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BSP Deputy Governor Diwa Guinigundo said initial results of the real estate stress tests conducted by banks showed the capital adequacy ratio (CAR) of banks would remain above the central bank requirement even if 25 percent of their real estate loan portfolio turns sour.</div>
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“At this point we don’t see any signs of stress in the real estate sector,” Guinigundo said.</div>
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The central bank has asked banks to submit data on their real estate portfolio to include exposure in socialized housing as well as debt incurred through the issuance of bonds to finance real estate activities.</div>
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“We now have a more comprehensive definition of the exposure to real estate. It’s more dependable,” he said.</div>
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Based on the new definition of the exposure of banks to real estate, Guinigundo said stress tests conducted by big banks showed that their CAR would still be above the 10 percent requirement set by the BSP and the eight percent threshold set under the Bank for International Standards (BIS).</div>
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“Even if they factored in a 25 percent souring of the loans on real estate, they are still above the 10 percent regulatory capital that we imposed on the banks,” Guinigundo said.</div>
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Aside from the BIS methodology, he said the BSP also used the International Monetary Fund (IMF) identification of asset bubbles.</div>
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“Those two tests will show that we are far from the so-called danger level,” he added.</div>
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The CAR of big banks stood at 15.48 percent on a solo basis and 16.42 percent on a consolidated basis as of end-June last year reflecting their continuous efforts to maintain adequate capital buffer against unexpected losses that may arise during times of stress.</div>
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The BSP stepped up its watch over the real estate sector as early as 2012 by ordering banks to disclose more comprehensive reports on their exposures to property industry.</div>
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The pre-emptive macroprudential policy measure approved by the BSP required stress tests for banks to determine if their capital will be enough to absorb credit risk that may arise from their exposure to the property sector.</div>
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Banks’ exposure to real estate jumped 21.8 percent to P861.22 billion in end-November from P708.88 billion in end-September last year. The sector accounted for 17.5 percent of banks’ total loan portfolio of P4.91 trillion as of end-November.</div>
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The BSP has set the cap on real estate loans at 20 percent of the bank’s total loan portfolio.</div>
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Guinigundo added that real estate developers are now more prudent after learning their lessons during the Asian financial crisis in 1997.</div>
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“We can also say that we are in touch with various real estate developers, the bigger ones, and it is very comforting to know that our developers have become more prudent, more discreet with respect to their expansion plans,” he said.</div>
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<i style="font-family: Arimo, sans-serif; font-size: 13.1198px; line-height: 19.6796px;">Source: <span class="article-author-info" style="font-size: 12.25px; line-height: 18.375px;">By Lawrence Agcaoili</span><span style="font-size: 12.25px; line-height: 18.375px;"> </span><span class="article-entity-info" style="font-size: 12.25px; line-height: 18.375px;">(The Philippine Star) / </span></i><span style="font-family: Arimo, sans-serif;"><span style="font-size: 12.25px; line-height: 18.375px;"><i>http://www.philstar.com/business/2016/01/12/1541553/no-real-estate-bubble-bsp?nomobile=1</i></span></span></div>
<br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-45464452171136064962016-01-12T22:02:00.001-08:002016-01-12T22:02:52.926-08:00FAILURES Makes You Closer To Your Success by: Realtor Samuel Lao<span style="background-color: white;"><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;"><br /></span></span>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgfJy8kilDP8SLJKNBkLlTUCjAWzarB-Yz5TiBzw_bWN2xrWTGojuKeCML0aWzTlwIdRvNq-Njf5I0rnXGuFyJi51pz55G2ZVtxbwIZeMetOVsQHpGvdm_t2KKte0HGnPve6IQEtefhNAs/s1600/12516237_10154520320459972_927221374_n.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="239" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgfJy8kilDP8SLJKNBkLlTUCjAWzarB-Yz5TiBzw_bWN2xrWTGojuKeCML0aWzTlwIdRvNq-Njf5I0rnXGuFyJi51pz55G2ZVtxbwIZeMetOVsQHpGvdm_t2KKte0HGnPve6IQEtefhNAs/s320/12516237_10154520320459972_927221374_n.jpg" width="320" /></a></div>
<span style="background-color: white;"><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;"><br /></span></span>
<span style="background-color: white;"><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">Good Morning Everyone.</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">As saying said, experience is the Best Teacher. Don't be afraid to fail, it is part of the ingredients to SUCCESS.</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">Because if you don't Fail, you never try at all.</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">I know someone who fails several times, in fact he don't have real estate sales in two years. But this guy never surrender. He continue to move on, bounce back harder, and bring to him the two years of learning & experiences. On his 3rd year he made several million sales, and one of those is 17million worth house & lot.</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">Imagine if he quit, he never know Success is just there waiting for him.</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">YOU can be like him a slow start, but never stop, because your just closer now to the pot of gold.</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">What is important for every failure, there is a valuable lesson learn. Every experiences is unique, learn from it. And improve your approach.</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">Remember Thomas Edison, fails several time before he perfected the formula of the lightbulb.</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">But if people ask Mr Edison, he only said, I never failed, it just cause me several revision on my formula to make it perfect.</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">Again, FAILURES is just part of your steps, or ingredients for SUCCESS.</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">Just like practicing to ride a bicycle. It will take you several FAILURES until you will get it perfect your balance, timing, running the bicycles.</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">Again, in your first practice riding bike, you failed, and you quit. I'm sure until now you don't know how to ride a bicycle. </span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">Because you cemented your failure.</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">Again failure is a stepping stone to rise up and reach your SUCCESS.</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">Same thing with our real estate business. It is not a easy. I did not promise an easy task. But we are here to help you. We are working us a team.</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">We are just waiting for your call to ask HELP, call now SUCCESS hotline 09173236123.</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">Your SUCCESS is our SUCCESS.</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">We will guide you step by step, how you can use real estate business as your strategy or vehicle to make Money. And once you have money, you can now pursue your dream.</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">We all have dreams, what holding us to achieve it, is not having enough money to finance it.</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">Real Estate Business can HELP you. Trust me, we made it, we just want you to follow our proven and tested strategy.</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">RealtyOPTiONS,Inc is been in the real estate business for 8 years, we been helping several people improve their lives for good. And you will be the next real estate millionaire.</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">Call now SUCCESS hotline 09173236123, to join one of our Free Real Estate Orientation, who knows this is the answer of your financial problem.</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">To your SUCCESS and PROSPERITY. Make a change this year, consider real estate business.</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">Regards</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">Samuel Lao</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">RealtyOPTiONS,Inc</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><a href="http://propertydepot.ph/" style="cursor: pointer; font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" target="_blank">Http://propertydepot.ph</a><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">BUY-SELL-RENT Properties</span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">------------------ </span><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><br style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;" /><span style="font-family: 'Helvetica Neue', 'Segoe UI', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 17.92px; white-space: pre-wrap;">Dr. Samuel O Lao, is a Professional Real Estate Broker, President & CEO of RealtyOPTiONS Marketing & Consultancy Inc., Graduate in Real Estate Finance & Investment at National University of Ingapore (NUS), Past President of Cebu Real Estate Board Inc (CEREB), & National Director of Philippines Association of Real Estate Board Inc. (PAREB).</span></span><br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-7486304411312348102016-01-12T00:17:00.000-08:002016-01-12T00:17:06.158-08:00Philippine year in review 2015<h4 style="background-color: white; font-family: Lato, Helvetica, Arial, sans-serif; line-height: 20px; margin: 10px 0px; text-rendering: optimizeLegibility;">
Strong domestic demand and increased government spending helped sustain high levels of economic expansion in the Philippines throughout 2015, though a slight slowdown was observed late in the year as demand from the country’s main trading partners eased.</h4>
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While yearend data have yet to be released, estimates from the Asian Development Bank (ADB) in December project gross domestic product (GDP) growth of 5.9% — short of the 6.4% forecast earlier in the year — as a result of declining merchandise exports, which fell by 6.9% year on year in the first three quarters to $43.7 billion.<div style="line-height: 27px; margin-bottom: 20px;">
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Despite the modest slowdown, the Philippine government remains confident that end-of-year spending will help boost GDP growth to 6%-6.5% by the close of 2015.</div>
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The months ahead are expected to usher in strong economic expansion, with the ADB projecting growth of more than 6% in 2016 as the government continues to increase public spending. Higher demand from India and other Southeast Asian economies is expected to offset the effects of this year’s weaker exports.</div>
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<b>INFLATION SUBDUED, EMPLOYMENT UP</b><br />While still modest, inflation gained pace late in the year, rising to 1.1% in November, up from 0.4% in October. However, rates remain within the Central Bank of the Philippines’ target band of 0.4% to 1.2%, and well below the 3.7% registered in November 2014.</div>
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According to the National Economic and Development Authority, inflation is being driven by rising food and non-food prices stemming from higher local demand and the lingering effects of typhoon Lando, which struck the country’s shores in October.</div>
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Core inflation — which excludes energy and unprocessed food costs — edged up in the last quarter of 2015, reaching 1.8% in November, its highest level since July, but still below the 2% target set by monetary authorities.</div>
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In a research note issued in early December, Barclays predicted inflation would rise to 2.4% in 2016, due in part to a modest anticipated increase in fuel costs and the potential impact of the El Niño weather pattern on agricultural prices.</div>
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Nonetheless, the ongoing strength of the economy helped stem unemployment in 2015, with figures released by the Philippine Statistics Authority in early December reflecting a 5.6% unemployment rate as of October, down from 6.5% in July 2015.</div>
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<b>POSITIVE RATINGS OUTLOOK</b><br />The steady growth and stability of the economy prompted ratings agency Fitch to revise its outlook for the country from stable to positive in late September. The agency also affirmed the Philippines’ long-term foreign- and local-currency issuer default ratings at “BBB-” and “BBB”, respectively, maintaining the country’s investment-grade standing.</div>
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Moody’s was also optimistic about the Philippines’ economic prospects for 2016, reaffirming the country’s “Baa2” bond rating with a stable outlook in mid-October. According to the agency, the rating reflects the “resilience of [the Philippine] economy to the current headwinds buffeting neighboring countries” and expectations that the positive economic and fiscal trends will continue for the next one to two years.</div>
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<b>BUDGET DEFICIT WIDENS</b><br />The year’s economic expansion was fueled in part by higher levels of government spending, which led to a deeper budget deficit in the latter half of the year. On the back of more than P1.82 trillion of disbursements in the first 10 months of the year, the year-to-date budget shortfall rose to P52.6 billion in October, up 56% year on year.</div>
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While outlays were higher than anticipated, government revenues were also up, with receipts rising by 12% year on year to P1.77 trillion between January and October.</div>
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In past years the government had come under fire for the relatively slow pace of spending, which often fell short of expenditure targets and delayed investment and capital projects. The late-term acceleration in public spending could help clear some of the project backlog and further stimulate the economy.</div>
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Economic activity in the coming year is also set to be fueled by presidential elections in May 2016. A recent report by Standard Chartered Bank predicted the election campaign would spur an influx of investment in the manufacturing, government services, private services, transport, communications and storage sectors, in particular.</div>
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According to the bank, the ramp up in public spending, alongside higher household consumption levels, could add between 0.1 and 0.3 percentage points to GDP in 2016.</div>
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<em>Source: Oxford Business Group/ January 7, 2016/ http://www.bworldonline.com/content.php?section=Economy&title=philippine-year-in-review-2015&id=121092</em></div>
<br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-87386323255340536322016-01-12T00:15:00.000-08:002016-01-12T00:15:54.991-08:00Residential, office markets expected to continue stellar performance in ’16<div class="p1" style="background-color: white; font-family: Helvetica, Arial, sans-serif; line-height: 27px; margin-bottom: 20px;">
<span class="s1">W</span><span class="s1">HILE 2016 has just begun, preparations are now being made to hail the Year of the Fire Monkey with a bang, when the Chinese celebrate their lunar New Year on February 8.</span></div>
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The whole nation is thrilled on what lies ahead this year, particularly on the political front, since this will mark the denouement of the Aquino administration and a new leadership will take over Malacañang Palace for the next six years.</div>
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<span class="s1">With the national polls heating up, however, the economy and its growth-driving industries, especially real estate, are expected to weather the political noise.</span></div>
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<span class="s1">Philippine economic development is seen in the expanding property sector as housing projects, commercial centers, workplace buildings, hotel and gaming facilities, as well as economic zones are being built one after the other not only in Metro Manila area, but also in other parts of the country.</span></div>
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<span class="s1">This trend is seen to continue across all real-estate industry segments this year and beyond, most notably in the residential and office sectors.</span></div>
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<span class="s1"><b>Residential market</b></span></div>
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<span class="s1">THE perennial housing backlog keeps on pushing the residential market’s growth, as the National Economic and Development Authority estimated the need of Filipinos for a “decent roof” is pegged at around 800,000 units per annum.</span></div>
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<span class="s1">Since close to 400,000 households or almost half can still afford to buy dwelling units annually, this segment of the real estate remains the most competitive and profitable at present.</span></div>
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<span class="s1">The towering heights of opportunity for both the developers and buyers still abound in vertical projects or condominiums.</span></div>
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<span class="s1">In fact, the condo market accounts for the biggest share of all licenses to sell at 27 percent, according to the nine-year average of Housing and Land Use Regulatory Board (HLURB) data.</span></div>
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<span class="s1">Leading the pack of developers is the SM Group, which intends to sell an annual average of 20,000 units starting 2016.</span></div>
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<span class="s1">This initiative solidifies the Sy family’s market share in the condo space, said Pinnacle Real Estate Consulting Services Inc. Director for Research and Consulting Jojo Salas.</span></div>
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<span class="s1">In their recent Market Insight Report, he also noted DMCI Group’s announcement that it would launch nine projects this year, with 14,000 units and estimated sales value of P50 billion.</span></div>
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<span class="s1">The Consunjis also intend to generate recurring income when it launches its 36-story office project along Pasong Tamo in Makati City.</span></div>
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<span class="s1">This will offer more than 40,000 square meters (sq m) of leasable area, subject to approval of permits and licenses.</span></div>
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<span class="s1">Salas said the Ayala Land Group and Ortigas and Co. have packaged their housing projects with mixed-use and township developments.</span></div>
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<span class="s1">Other developers are also ramping up the kick-off and completion of their projects to meet the predicted demand.</span></div>
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<span class="s1">Lamudi Philippines reported that Century Property is on track to finish the construction of its luxury residential condo—the Trump Tower—by December.</span></div>
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<span class="s1">Once completed, this 56-story tower in Makati City, composed of over 250 units, is the first Trump-branded condo not only in the country, but in Southeast Asia.</span></div>
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<span class="s1">The property web site also revealed the scheduled opening this year of high-end 67-floor tower Shang Salcedo Place, which houses 749 units and top-class amenities.</span></div>
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<span class="s1">Apart from condominiums, other residential types also offer good business and investment potentials for both the players and end-users.</span></div>
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<span class="s1">Like vertical housing projects, economic housing comprises 27 percent of all licenses to sell, based on HLURB figures.</span></div>
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<span class="s1">Meanwhile, socialized dwellings, as well as open-market subdivisions and townhouses account for 24 percent and 22 percent, respectively.</span></div>
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<span class="s1">Pinnacle’s report shows the Ayala Group has focused on the economic housing by strengthening its projects under the Amaia brand.</span></div>
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<span class="s2">It’s timely given the recent hike of the loan limit for this type of residence from P1.25 million to P1.7 million, as approved by the Housing and Urban Development Coordinating Council.</span></div>
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<span class="s1">As for the socialized market, Bella Vista brand has been playing in this category, the study added.</span></div>
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<span class="s1"><b>Office segment</b></span></div>
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<span class="s1">AS the economy surges, there’s still more room for expansion in the office sector of the real-estate industry.</span></div>
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<span class="s1">Jones Lang Lasalle (JLL) Managing Director for Singapore and Southeast Asia Chris Fossick said new office supply is expected to be high in Manila in 2016 at 870,000 sq m, growing by 10 percent to 20 percent.</span></div>
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<span class="s1">He said that most of the new buildings are in the central business districts (CBDs) of Makati and Bonifacio Global City (BGC) in Taguig, where there has been a shortage.</span></div>
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<span class="s1">This year’s supply until 2018, however, is close to the five-year historical take-up from 2011 to 2015.</span></div>
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<span class="s1">With the projected spike in the office-space inventory, a moderate hike in rental rates is likewise projected—this time at 4 percent, as 18 percent of the new supply in 2016 has been already precommitted.</span></div>
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<span class="s1">This trend could still be attributed to the ever-expanding business-process outsourcing (BPO) industry, as some locators are moving up the value-chain and require more centrally located premises, Fossick said.</span></div>
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<span class="s1">Based on data from the Philippine Statistics Authority, the office segment accounts for 29.4 percent of the real-estate demand in the country, largely driven by BPO at 11.3 percent.</span></div>
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<span class="s1">Industry sources see the outsourcing sector to generate $25 billion in total revenues by end of the year.</span></div>
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<span class="s1">Given the top figure, the BPO industry is projected to soon overtake dollar remittances by overseas Filipino workers, most likely in two years, according to an HSBC economist in a recent briefing. Job-wise, it is targeted to hit 1.3 million full-time employees in 2016, which translates to 5.2-million-sq-m office requirement.</span></div>
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<span class="s1">Hence, the industry is now gearing up the “Next 10 Cities,” such as Baguio, Davao, Dumaguete, Iloilo, Lipa, Metro Bulacan (Baliuag, Calumpit, Malolos City, Marilao and Meycauayan City), Metro Cavite (Bacoor City, Dasmariñas City and Imus City), Metro Laguna (Calamba City, Los Baños and Sta. Rosa City), Metro Naga (Naga City and Pili), and Metro Rizal (Antipolo City, Cainta and Taytay).</span></div>
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<span class="s1"><b>Investment opportunities</b></span></div>
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<span class="s1">AT the start of the new year, many of those planning to move to a new home or considering buying a property must be wondering what 2016 could bring to them.</span></div>
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<span class="s1">In view of this, Lamudi Philippines takes a look at what are potentially good real-estate investment deals in the market today.</span></div>
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<span class="s1">For one, Strata-titled offices are a good take, according to the real-estate portal.</span></div>
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<span class="s1">Contrary to the BPO office towers constructed and rented out by property developers to outsourcing firms, they can be purchased by individual investors and buyers to lease to companies.</span></div>
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<span class="s1">For those who want to diversify their investment portfolios, this property type makes a good business sense since there is a lack of supply of office space in the metropolis, particularly in major CBDs, placing an upward pressure on rental fees.</span></div>
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What’s more, the decreasing land-bank options in Makati City, BGC and Ortigas Center are also raising capital values of office buildings, based on Colliers International’s third quarter 2015 report.</div>
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Some of the strata-titled developments now available in the market are Alveo Financial Center along Ayala Avenue, which has 363 units and sells on average P223,000 per sq m; The Stiles in Circuit Makati (also of Alveo Land), with 283 units for P198,000 per sq m; Century Spire in Century City (Century Properties), with 283 units for P203,000 per sq m; Capital House in BGC (Avida Land), with 222 units for P142,000 per sq m; One World Place in BGC (Dai-ichi Properties), with 283 units for P136,000 per sq m; and Parkway Corporate Center in Alabang (Filinvest Land), with 390 units for P168,000 per sq m.</div>
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Apartments and townhouses are also worth investing in as they are two of the most searched property types by Filipinos at present.</div>
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Location-wise, suburban areas like Quezon City, Parañaque and Las Piñas are a top choice among the would-be investors.</div>
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Such properties are very in demand among renters, most especially for starting families, since they provide bigger spaces than condos yet they are cheaper than standalone houses.</div>
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A three-bedroom door apartment in Parañaque, for instance, averagely costs P3.5 million to P4 million, or charges P18,000 to P25,000 as monthly rent.</div>
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Because land values in Metro Manila are costly and constantly rising, real-estate developers are setting their sights outside for their next big-ticket township projects.</div>
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Among these developments include the Azure North in San Fernando, Pampanga, where Century Properties plans to duplicate the success of the same project in Parañaque; and Ayala Land’s Alviera in Porac, Pampanga; and Vermosa in Laguna and Cavite.</div>
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These developers are banking on their previous success to push these projects forward and all look to perform well in 2016, according to Lamudi Philippines.</div>
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Residential lots in subdivisions are also highly sought after given their rapid value appreciation.</div>
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Property values in the 62-hectare township called Alabang West of Global-Estate Resorts Inc., to wit, increased from P47,000 per sq m to P56,000 per sq m, or 19 percent in the 11 months since its launch.</div>
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Around 80 percent of the 788 residential lots in this project have been already taken up.</div>
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While there is a bit slide in the mid-condo market due to massive supply, high-end vertical housing developments, especially larger ones, are projected to perform well both in capital appreciation and rental rates.</div>
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Colliers said that vacancy level is lowest for upscale condos in Makati City, which is expected at 5 percent to the third quarter of 2016.</div>
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This could be attributed to Metro Manila’s leasing market, driven primarily by expatriates and the BPO sector.</div>
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JLL reported that luxury condo rents in the metropolis keep on growing, though modestly, due to strong demand also from expatriate employees of multinational cor<span class="s1">porations.</span></div>
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<em>Source: <span class="td-block-author">by Roderick Abad – </span>January 4, 2016 http://www.businessmirror.com.ph/residential-office-markets-expected-to-continue-stellar-performance-in-16/</em></div>
<br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-1887097489848536312016-01-12T00:12:00.000-08:002016-01-12T00:12:37.238-08:00SM Prime plans to continue developing SM North Edsa<div class="p1" style="background-color: white; color: #262626; font-family: 'Goudy Bookletter 1911'; font-size: 21px; line-height: 29px; margin-bottom: 23px;">
<span class="s1">M</span><span class="s1">ALL operator SM Prime Inc. said it will continue to develop its first mall in the country—SM City North Edsa in Quezon City—as it continues to be its flagship mall despite building other bigger shopping malls in the country.</span></div>
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<span class="s1">SM Prime Holdings President Hans Sy said the retail landscape in the last 30 years “has become more global and competitive where technology has forever changed the way we live and do things.”</span></div>
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<span class="s1">“They said that SM City [North Edsa] would not succeed, but the mall was an instant success,” Sy said.</span></div>
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<span class="s2">From a footprint of only 125,000 square meters on opening in 1985, it has grown in size to almost 498,000 sq m. </span></div>
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<span class="s1">From its original shoe-box design, the mall now draws an average foot traffic of 420,000 shoppers a day.</span></div>
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<span class="s1">The company said its 30-year-old mall, which is also one of its biggest malls in terms of gross leasable area, will continue to grow “like a vibrant city as it adds more office spaces and a hospitality complex, a unique combination of high-end retail, dining and green spaces, highlighted by a series of five office towers connected by pedestrian sky bridges.”</span></div>
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<span class="s1">The mall has gone through several redevelopments which began with the Car Park Plaza in 1988, the SM Annex in 1989, the Block in 2006, The Annex and Interior Zone in 2008, the Sky Garden in 2009 and Northlink in 2010.</span></div>
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<span class="s1">In the past years, SM Prime also built new spaces for various concepts such as for business-process outsourcing (BPOs) companies and other private offices to further feed traffic into its malls, especially during weekdays. </span></div>
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<span class="s1">The North Link is a six-story building, while SM Cyber West Avenue is a 15-story building. Both buildings are meant for the BPOs, and are linked via bridge way to the mall.</span></div>
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<span class="s1">It also built Grass Residences, a five-tower residential condominium building which stands on a 5-hectare property within the SM City North Edsa Complex.</span></div>
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“We have changed the Filipino lifestyle forever. Our malls are indeed as they are called—cities, places where families and friends gather to shop, eat out, have fun, and even do their business transactions and hear Mass. We have become part of the lives of millions of Filipinos,” Sy said.</div>
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<i style="color: #262626; font-family: 'Goudy Bookletter 1911'; font-size: 21px; line-height: 29px;">Source: </i><i style="color: #262626; font-family: 'Goudy Bookletter 1911'; line-height: 29px;"><span style="color: #444444; font-family: Ubuntu, sans-serif; line-height: 19px;">by </span>BusinessMirror<span style="color: #444444; font-family: Ubuntu, sans-serif; line-height: 19px;"> / </span></i><span style="background-color: transparent; line-height: 19px;"><span style="color: #444444; font-family: Ubuntu, sans-serif;"><i>http://www.businessmirror.com.ph/sm-prime-plans-to-continue-developing-sm-north-edsa/</i></span></span></div>
<br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-65949311418940045292016-01-11T23:59:00.000-08:002016-01-11T23:59:11.257-08:00Gaisano to set up P2-B condotel in Albay<div style="background-color: white; color: #262626; font-family: 'Goudy Bookletter 1911'; font-size: 21px; line-height: 29px; margin-bottom: 23px;">
LEGAZPI CITY—A P2-billion investment for a condo hotel will be set up in Legazpi City by the Gaisano Group, as a P1.2-billion new mall owned by the Ayala Group is set to open here next week, Albay Gov. Joey Sarte Salceda said.</div>
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The Albay governor said the P2-billion condominium-hotel project is in answer to the pressing demand for more hotel rooms in the province.</div>
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Albay is targeting 5,000 more hotel rooms by the year 2020.</div>
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The new P1.2-billion mall right at the Legazpi business center is owned by the Ayala Group, in partnership with the local Liberty Commercial Center (LCC), Salceda said.</div>
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LCC is the Bicol mall-business pioneer since the early 1950s. It started as a grocery in Tabaco City, owned by the local Tan family. It is now operating the LCC Metro in Legazpi and LCC Metro in Naga City.</div>
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The site for the fresh Gaisano P2-billion investment, which would house between 600 rooms and 900 rooms, will be at the Gaisano-owned sprawling Landco Business Park right at the back of the Gaisano integrated shopping mall beside the Legazpi terminal.</div>
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Gaisano became the first and biggest mall in the Bicol region in 2002, next to the local and oldest LCC mall in the cities of Tabaco and Legazpi in Albay.</div>
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Legazpi is the regional center with the Bicol region’s lone five-star Mayon Imperial Hotel built during the early 1970s by the late Highways Minister Baltazar Aquino. It has been reaquired by at least three owners and was renamed the Mayon International hotel. It is now known as The Oriental Hotel operated by the Oriental Hotel Group.</div>
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Salceda said that, with the operation of the Bicol International Hotel in Albay, he’s hoping the province’s target of 5,000 more hotel rooms by 2020 from both local and international property developers would be realized. He said he has been in talks with three international investors to build the hotels.</div>
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Among the known local developers is the Sunwest Group of companies, owned by Rizaldy Co, who owns the Embarcadero Mall on the Legazpi bayside; the St. Ellis Hotel; and the Misibis Beach Resort and Spa in Bacacay town, one of the 10 outstanding resorts in the world, according to the Philippine Tourism Authority.</div>
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Salceda said the province needs more quality hotels and resorts to absorb the growing number of meetings, incentives, conventions and exhibitions.</div>
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The Albay governor narrated that during a recent convention held in the province, 5,000 local guests could not be accommodated in all Albay hotels. He then tapped participants from Albay to accommodate in their residence participants from outside the province.</div>
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Salceda said that by the end of 2015, Albay will reach close to 1.1 million tourist arrivals, a 14-percent increase from last year. Hopefully, he said, by 2016, the P4-billion Bicol International Airport will be operational. President Aquino envisioned this airport to operate 24/7 as direct flights would be available.</div>
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Eric Tan, Gaisano properties-development manager, said the P2-billion condo-hotel investment will feature a three-building condotel with 10 storys each. He said the condotel would have condominium units available to own.</div>
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<i style="color: #262626; font-family: 'Goudy Bookletter 1911'; font-size: 21px; line-height: 29px;">Source: </i><i style="color: #262626; font-family: 'Goudy Bookletter 1911'; line-height: 29px;"><span style="color: #444444; font-family: Ubuntu, sans-serif; line-height: 19px;">by </span>Manly Ugalde / </i><span style="background-color: transparent; line-height: 29px;"><span style="color: #262626; font-family: Goudy Bookletter 1911;"><i>http://www.businessmirror.com.ph/gaisano-to-set-up-p2-b-condotel-in-albay/</i></span></span></div>
<br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-87881748994745270082016-01-11T23:47:00.000-08:002016-01-11T23:47:13.394-08:00Debt-to-GDP ratio drops to 45.3% in September<div style="background-color: white; color: #262626; font-family: 'Goudy Bookletter 1911'; font-size: 21px; line-height: 29px; margin-bottom: 23px;">
The country’s debt-to-gross domestic product (GDP) ratio as of the end of September dropped to 45.3 percent, slightly lower than last year’s ratio of 46.4 percent.</div>
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Department of Finance (DOF) Undersecretary and chief economist Gil S. Beltran said the continuing drop in the debt-to-GDP ratio indicates the country’s stable financial situation to pay off its debts while funding economic and social projects.</div>
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Domestic debt-to-GDP ratio is at 29.6 percent, while external debt-to-GDP ratio is at 15.7 percent.</div>
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The debt-to-GDP ratio is an economic indicator which shows, among others, a country’s ability to pay off its debt from wealth generated by the economy itself, instead of merely borrowing more money to pay off maturing debts. The fiscal space generated by the government’s higher revenue collection has brought down the debt-to-GDP ratio. This year the budget deficit remained below the target of 2 percent of GDP.</div>
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“Compared with the target deficit equivalent to 2 percent of GDP, the end-September actual deficit of 0.27 percent shall enable the government to provide fiscal space to push economic growth to higher levels in the last quarter, even with the ongoing global financial volatilities and threats of El Niño phenomenon,” Beltran said in an economic bulletin.</div>
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The DOF said that, despite the lower budget deficit for this year, which amounted to P25.5 billion as of September, government expenditures continued to pick up, especially for projects that have economic and social impact, like infrastructure and social services.</div>
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This is expected to continue through 2016, with the government’s proposed budget, including provisions for infrastructure spending next year, equivalent to 5 percent of GDP, while budgets for social services going up by 471 percent from the budget allocated for such services in 2010.</div>
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From January to September, total expenditures amounted to P1.63 trillion, or 12 percent higher than comparable figures last year.</div>
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<i style="font-family: 'Goudy Bookletter 1911'; line-height: 29px;"><span style="color: #262626; font-size: 21px;">Source: </span><span style="font-family: Ubuntu, sans-serif; line-height: 19px;">by </span>David Cagahastian / </i><span style="background-color: transparent; line-height: 29px;"><span style="font-family: Goudy Bookletter 1911;"><i>http://www.businessmirror.com.ph/debt-to-gdp-ratio-drops-to-45-3-in-september/</i></span></span><i style="font-family: 'Goudy Bookletter 1911'; line-height: 29px;"><span style="font-family: Ubuntu, sans-serif; line-height: 19px;"> </span></i></div>
<br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0tag:blogger.com,1999:blog-8071798748131284337.post-65315377313097150962016-01-11T23:27:00.000-08:002016-01-11T23:27:29.008-08:00Insurer looking to fund more infrastructure projects<div style="background-color: white; color: #262626; font-family: 'Goudy Bookletter 1911'; font-size: 21px; line-height: 29px; margin-bottom: 23px;">
Sun Life Financial Philippines is looking to invest in more infrastructure projects as part of its investment portfolio because these investments involve long-term investments, which insurance companies are more able than banks to undertake.</div>
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Sun Life Financial Philippines President and CEO Riza Mantaring said at the sidelines of the Second annual Sinag Financial Literacy Journalism Awards on Thursday that Sun Life has around P170 billion in its general fund, a portion of which the company is keen on deploying in infrastructure projects.</div>
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The Sinag Financial Literacy Journalism Awards is Sun Life Philippines’s annual awards to honor journalists whose body of work helps promote financial literacy among Filipinos.</div>
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Mantaring said that, aside from its reported foray into the business of producing power, Sun Life Philippines is also looking at other infrastructure projects that it can either fund or have an equity in because infrastructure projects provide insurance companies with a steady cash flow over a long horizon.</div>
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She added that Sun Life Philippines is looking initially at an investment ceiling of P2 billion for each project that the insurer will fund, even as it also starts a due diligence audit.</div>
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Many of the projects are proposed to be passed on to Sun Life Philippines by banks because insurance companies are more able to handle longer-term investments than banks, which are in the business of lending money and are therefore required to be more liquid. Mantaring noted that the operations of Sun Life’s main branch in Canada is also into investments in infrastructure, such as toll roads, bridges, and even jail facilities, which Sun Life Philippines is looking to replicate here.</div>
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According to current regulations, insurance companies may use a portion of their investible assets on infrastructure assets, subject to approval from the Insurance Commission.</div>
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<i style="-webkit-text-stroke-width: 0px; font-family: 'Goudy Bookletter 1911'; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: 29px; text-transform: none; white-space: normal; word-spacing: 0px;"><span style="color: #262626; font-size: 21px;">Source: </span><span style="font-family: Ubuntu, sans-serif; line-height: 19px;">by </span>David Cagahastian / </i><span style="background-color: transparent; line-height: 29px;"><span style="font-family: Goudy Bookletter 1911;"><i>http://www.businessmirror.com.ph/insurer-looking-to-fund-more-infrastructure-projects/</i></span></span></div>
<br>http://www.blogger.com/profile/03317409459146928473noreply@blogger.com0