RP's first Fair Trade shop opens in Cebu

By Ehda M. Dagooc Updated July 31, 2009 12:00 AM

CEBU, Philippines - The Advocate of Philippine Fair Trade, Inc (APFTI) together with Southern Partners Fair Trade Corporation (SPFTC) announced the opening of the country’s first “The Fair Trade Shop” in Cebu, in its bid to jumpstart in promoting the support of socially and environmental conscious shopping culture in the Philippines.

The Cebu outlet, which will be opened on August 8, 2009, is the first of the seven similar stores that will be established by these organizations in the Philippines, in the next two years.

“This is a historic moment for all supporters of Philippine fair trade and responsible business. I am proud that our culture is being preserved through stylish and high quality products that make a difference to our fellow Filipinos and our environment,” said APFTI executive director Vicente Roaring.

Roaring believes that by opening the Fair Trade Shop, “we can further improve living standards and conditions for farmers, workers and producers, and create a sustainable supply of high quality products for conscious consumers to enjoy.”

Globally, there are more than 4,000 specialized Fair Trade stores or “Worldshops” and more than 100,000 points of sale that distribute Fair Trade products.

These shops are generally found in developed countries in the North. The move to open The Fair Trade Shops in the Philippines allows Filipino consumers to be on equal footing as conscious consumers across the globe, Roaring said.

According to Gabby Lopez, APFTI chairman of the board, by opening The Fair Trade Shop, consumers will be empower, and will realize that they can have a direct and meaningful impact on their fellow countrymen, by simply making conscious, responsible choices about what to buy and how to spend.

“This exciting launch of The Fair Trade Shop brings much needed positive change for producers who need Fair Trade now more than ever. The public has increasingly been telling us they want to lead a sustainable lifestyle and this is a big step along the path towards health and wellness, and eco-living,” said Geraldine Labradores, SPFTC general manager.

The launch of the premier The Fair Trade Shop in Cebu is part of APFTI’s three-year “MaDe for Fair Trade Project” otherwise known as “Domestic Market Development for Fair Trade”, jointly supported by Dutch funders ICCO and Cordaid.

As part of this project, APFTI plans to roll out The Fair Trade Shop to six other strategic locations across the country; and will push for fair trade products to be made available in leading supermarkets.

Later this year a Fair Trade Caravan will begin its journey across the country in a bid to raise awareness about responsible and fair trade consumerism to sophisticated buyers demanding more value for their money.

The Advocate of Philippine Fair Trade, Inc envisions an empowered community of entrepreneurs fighting poverty and contributing to sustainable development through Fair Trade. APFTI provides business and product development services, advocacy and market access assistance to small and medium community enterprises.

The Cebu Fair Trade Shop is located at Jose R. Martinez Bldg. Osmeña Boulevard.

Fair trade is a global movement, with estimated sales of approximately US$5 billion in 2008, average growth of 42 percent in the last two years. It is proactive poverty alleviation through innovative and high quality Philippine food and handicraft products.

It also provides opportunities to disadvantaged Philippine producers, and offers fair and equitable working conditions and helps address climate change, while generating profits.

Dive tourists in RP up by 62.8% in Q1

By Ehda M. Dagooc Updated July 31, 2009 12:00 AM

CEBU, Philippines - As the Department of Tourism (DOT) aggressively pushes “Dive Tourism” in some areas in the Philippines, the number of dive tourists in the Philippines grew by 62.8 percent in the first quarter of 2009.

A record from the DOT planning and promotion office revealed that Cebu, Bohol, Palawan, Mindoro Oriental and Batangas are the identified favorite diving destinations especially for foreign tourists.

German dive enthusiasts visiting these diving destinations posted 131 percent increase while the Korean dive tourists went up by 104 percent, American 37 percent, Japanese 34 percent and Chinese 31 percent.

Over-all gross receipts from dive tourism in these destinations posted an upsurge of 52.8 percent to P31 million compared to P20.2 it generated in the first quarter of 2008.

The record showed that substantial growth of 82 percent was recorded during the first quarter of 2009. Revenue generated by dive operations in Bohol went up by 195 percent, while those in Cebu increased by 69 percent.

During 17th Marine Diving Fair in Tokyo, the Philippine DOT Pavilion attracted more than 20,000 visitors and garnered awards for Best Diving Area, Most Desirable Destination, Best Dive Resort and Favorite Dive Operators for the country and participating dive operators.

The DOT also continued to draw dive tourists in its annual participation in the Golden Dolphin Fair in Moscow which attracted over 23,000 visitors from all the regions of Russia and overseas.

Earlier, DOT secretary Joseph Ace Durano urged the local government units (LGUs), as well as diving shops operators in the Philippines, to put premium rates on diving fees, as this kind of potential tourist-drawer product has been under-valued.

Durano said that as far as Scuba Diving is concerned the Philippines ranks high among interest of Scuba diving enthusiasts all over the world, thus there is a need for LGUs to put premium on pricing in charging scuba diving activities in their localities.

“We can afford to put premium on pricing,” Durano said emphasizing that in his visits in the top diving spots in the country, he has been urging LGUs, as well as Scuba Diving operators to charge high in fees, so that LGU can sustain the maintenance and protection of the marine resources.

In Malapascua Islet alone in Cebu, which is one of the top 10 best diving spots in the Philippines, is only charging P100 per dive, P30 of this will go to barangay Logon the lone barangay on the Islet, and the P70 will go to the government of Bantayan Island.

Not only in Malapascua, but also in other eco-tourism destinations in the Philippines, wherein charging fees for eco-tourism activities aside from Scuba Diving, such as snorkling, whale shark interaction like in Donsol, Sorsogon, among others are also charging very cheap rates.

Durano mentioned that in Australia, in order for people to see a whale-shark or any marine life contained in a aquarium is charging at least $40 per person, which is around P1,800 in Philippine peso (P46 base exchange).

For Scuba Diving, which is one of the most expensive hobbies, Durano said people from all over the world are willing to spend, just to have the best experience under water.

LGUs that are host of a diving spot destination, should formulate a good price points, in order to get good revenue in this kind of activity to operate a sustainable coastal and marine protection program.

Central Visayas region there are four top diving spots known in the world, these are the Malapascua Islet, Moalboal, Balicasag Island (Bohol), and Apo Island (Negros).

Since Scuba Diving is a hobby which is mostly indulged in by well-to-do market, Durano said this is one of the few tourism products in the country that is considered as “recession proof”.

Economic rebound seen in second half of 2009

Updated July 15, 2009 12:00 AM

CEBU, Philippines - Some government agencies and business groups in Cebu believe that the country, especially Region 7, will recover from the effects of the global financial crisis in the second half of 2009.

During the 888 news forum yesterday, the Department of Trade and Industry, National Economic Development Agency, Department of Labor and Employment and its labor relations arm - the National Conciliation and Mediation Board, as well as the Cebu Chamber of Commerce and Industry and the Cebu Business Club shared the optimism that the country will perform better economically in the next six months.

While acknowledging the massive effects of the crisis, NEDA Regional Director Efren Carreon said there is hope for more jobs in the next six months, as the government already managed to provide 117,800 jobs through the Comprehensive Livelihood and Emergency Employment Services. CLEEP initially targeted 203,278 jobs.

Based on its economic situational report, Carreon said effects of the crisis started to escalate in the latter part of 2008 where most of the “regions’ economic drivers started to lose their growth momentum.”

The export industry suffered the major blow with a 16 percent downtrend compared to last year. The tourism industry is also being affected with domestic arrivals going down to 5.4 percent from last year’s 7.7 percent and foreign arrivals going down to 5.4 percent this year compared to the 12.3 percent growth rate in 2008.

Even information technology business process outsourcing felt the chilling effect of the crisis.

The NEDA also showed that some of the sectors had slower demands for their services and some investors have cancelled plans to set up facilities. Still, several companies made it through like Wipro Philippines and Convergys who reportedly remain positive of their future recovery.

Different government agencies like the Department of Public Work and Highways and the Department of Transportation and Communication already disbursed 36 percent and 12 percent of their frontloading infrastructure budget, which is aimed to make most of their projects in the first quarter of the year so that more could avail of jobs opportunities that come along with the projects.

Meanwhile, the Department of Agriculture and the Department of Education also disbursed 67 percent and 30 percent of their obliged frontloading project budget.

Dondi Joseph, president of the Cebu Business Club said they accept that there is a problem and the only thing to do is face it and find solutions.

Joseph said the Cebuanos’ unique way of handling business would also help since people in the region “know their way around problems like these and would know how to come out of it.”

For his part, CCCI Vice President Ted Locson said they are looking at the whole picture and how it will affect the country and Cebu, in particular, especially since Cebu has always “acted differently from the other provinces and proved to be rich in ways to ease away from business struggles.” – AJ A. de la Torre/JMO (THE FREEMAN)

RLC allots P10 billion for current, future projects

By Zinnia B. Dela Peña Updated July 27, 2009 12:00 AM

MANILA, Philippines - Robinsons Land Corp., the property development arm of Gokongwei flagship firm JG Summit Holdings Inc., is spending a combined P10 billion in 2010 and 2011 to complete the construction of ongoing and future high-rise residential projects.

In a filing with the Securities and Exchange Commission (SEC), RLC said its residential buildings division would need approximately P5 billion per year to fund the development of the first tower of its joint venture with Security Land located on Ayala Ave., the second tower of Sonata Private Residences in Ortigas Center, the second tower of Trion towers in Bonifacio Global City, an additional building in Woodsville and the first tower of the Magnolia Residences.

“RLC believes that the potential for growth is in the affordable mid-to high-rise condominium developments and in the middle to high-end horizontal residential segments of the market and the company intends to take advantage of these opportunities,” the company said.

Magnolia Residences is envisioned to be a self-contained community located in a five-hectare property in New Manila.

For fiscal year 2009, RLC has allotted P8.7 billion for its total capital expenditures, with 38 percent going to residential buildings, 37.7 percent for commercial centers, 14.4 percent for office buildings, six percent for housing and land development, and 3.9 percent for hotels.

The capex will be funded from existing cash, cash generated from operations, pre-selling and additional borrowings.

RLC is building three more new malls located in Davao, Tacloban, and General Santos, which will increase net leasable area by 71,000 square meters or 10 percent from previous year.

RLC’s shopping mall network will increase to 26 by the end of September this year from 21 the previous year.

For next year, the company intends to complete another three malls located in Cebu, Dumaguete and Laoag which will provide an additional net leasable area by another seven percent.

As for its housing and land division, RLC plans to begin development of at least three new and expansion projects per year with a focus on affordable subdivision lots with housing options in seven regional capitals and select low-rise projects in highly urbanized centers.

To be launched this year include The Wellington Courtyard — phase 2 in Tagaytay City, the 15-hectare project in Capas, Tarlac; re-launching of the Vimana Private Villas in Pasig.

By September this year, RLC’s shopping mall network will increase to 26 from only 21 the previous year.

Aside from this, RLC will continue to take advantage of the resilient demand for office space by allotting leasable area for BPOs as needed in its malls. It started construction of Robinsons Cybergate Plaza, which will have 20,000 square meters of net leasable office area.

To cater to a wider section of potential clients, RLC launched a new concept in the hospitality business with its budget Go Hotels, offering affordable and value-for money accommodation. These hotels will rise in RLC’s malls and 24-hour convenience stores.

The first site of the Go Hotel is in Robinsons Pioneer Cybergate complex, which is expected to be completed in the next fiscal year. RLC is also looking at three other sites in key cities in the provinces.

CV economic slump felt in last quarter of 2008, says NEDA

Updated July 27, 2009 12:00 AM

CEBU, Philippines - Major industries in Central Visayas such as the construction, retail, transportation and agriculture started to lose their growth momentum in the last quarter of 2008, said a Regional Economic Situationer of the National Economic Development Authority 7.

NEDA 7 Assistant Director Efren Carreon presented the economic situationer during the Regional Development Council full council meeting at the Bohol Tropics Resort in Tagbilaran City last Friday.

The report said preliminary indicators suggested that Central Visayas was not at all spared from the adverse impact brought about by the global economic crisis.

For example, the construction industry, a major contributor of economic growth in Central Visayas in 2007, suffered losses after investors decided to scale down or even postpone implementation of projects until the economy would recover.

In real estate, only big developers with enough capital to support their projects proceeded with construction activities. Smaller ones had to rely on their initial investments from property buyers, down-scaled or even postponed their projects, NEDA said.

Meanwhile, records from the Home Development and Mutual Fund show that fewer members availed of housing loans in the fourth quarter of 2008.

HDMF financed only 1,020 housing units or a short of about 534 housing units during this period and the bulk of housing loans had a maximum of only P750,000. Big ticket projects costing more than P2 million also slowed down.

The retail industry in the region also suffered a slump after it failed to surpass its performance in the fourth quarter of 2007, despite the strong performance of the tourism industry.

The same was experienced by the transportation industry owing to the lower demand for cargo shipping services due to declining exports. The aviation industry was no better, as it did not improve since the third quarter of 2008.

In the third quarter of 2008, Cebu Pacific already cancelled direct flights to Bangkok, Taipei and Macao because of limited number of passengers. The volume of domestic and foreign cargos carried via air also dropped by 6.5 percent and 23.1 percent, respectively.

The shipping sector also rendered a “poor performance” in the last quarter of 2008 with the suspension in the operations of Sulpicio Lines vessels aggravating the “already weak shipping industry.”

On the brighter side, NEDA said the agriculture and power sectors displayed a “better performance” in the last quarter of 2008. All agricultural sub-sectors, excluding poultry, yielded aggregate volume of agricultural productions compared to the previous years. Production during this period reportedly exceeded that of the fourth quarter of 2007 by 6.9 percent.

The stable prices of fuel also helped improve consumer spending and was used by consumers as “determinant” of the general economic situation. — Garry B. Lao/JMO (THE FREEMAN)

Mactan Rock inks 50-year deal with resort developer

Updated July 25, 2009 12:00 AM

CEBU, Philippines - Cebu-based Mactan Rock Industries Inc., (MRII) has inked a partnership deal with resort developer 7,107 Development Corporation, to provide water technology solutions to all the latter’s upcoming projects.

MRII consultant James Cook said that the company will develop water solutions facilities for resort projects of 7,107 Development Corporation in the next few years, initially covering developments in the islands of Buswaga, Coron in Palawan, and small islet called Carabao Island in Boracay.

“This is to start our focus on providing water technology solutions to tourism related projects, especially those that are located on an island, where water supply is scare,” Cook said.

MRII already started installing a water technology facility that would provide improved water supply using the Reserve Osmosis (RO), desalination, and others to its partners’ current resort project in Coron, Palawan.

According to Cook, 7,107 Development Corporation led by Steve Tajanlangit is set to develop and put up Resort facilities in 18 to 22 Islands around the Philippines, these are major and high-end Resort projects.

MRII and 7,107 Development Corporation has signed a 50-year contract for this joint venture, as the later plans to put up more resort facilities in different Islands and Islets all over the country.

Obviously, Cook said one of the major problems in developing a Resort on an Island of instance is the availability of ample water supply.

Cook said MRII will be using environment-friendly solutions, such as zero waste-water discharge, to use recycled water for the Resorts’ irrigation and other secondary purposes like toilet flushing, among others.

Already, MRII together with its another partner Pilipinas Water Resources Inc., have started similar joint venture projects, only that these two companies focused on local government units (LGU) partnerships to provide water supply for residents in a particular Island.

This time, Cook said MRII will focus on installing water technology system to privately owned companies, like those developments that will be developed by the 7,107 Development Corporation.

Mactan Rock is providing water technology solutions to over 350 industries around the country. It is the first company in Asia that introduced the desalination process, which will purify seawater turning it as potable water.

MRII, is strengthening its nationwide expansion plan, by introducing its water technology solutions to support the development growth of tourism-related projects.

Now, that the Philippines is becoming a well-known destination for eco-tourism, and adventure tourism that will push investors to put up resort and hotel projects on different Islands, and remote mountain areas, water availability is one of the most important necessities, Cook stressed.—Ehda M. Dagooc

Waterfront to meet econ rebound with expansion

By Ehda M. Dagooc Updated July 24, 2009 12:00 AM

CEBU, Philippines - The tough competition among City hotels in Cebu, and the introduction of newer facilities have prompted Waterfront Cebu City Hotel and Casino to embark on a multi-million-peso renovation program by the third quarter of this year.

“We already got the go signal to finalize our third wave renovation program,” said Waterfront Hotels general manager for Visayas and Mindanao Marco Protacio in a press conference.

The renovation program will reinforce the hotel’s leadership in attracting the Meetings, Incentives, Conventions/Conferences and Exhibitions (MICE) market in Cebu, which is now affected by the global recession.

According to Protacio the hotel, which is owned and managed by the Gatchalian-controlled Waterfront Philippines Inc. (WPI), will improve the facilities of the hotels with the renovation of the lobby, standard rooms, and establishments of more support facilities such as Urban Spa, Call Center, more function rooms, gym, among others.

Protacio admitted that the MICE market for Cebu has declined in the last few months while companies have streamlined or postponed their conferences and events because of the crisis.

Although the MICE market in Cebu is still in “pretty much” stable level, but he said Cebu is “missing some big conventions.”

“Because of economic reasons, the budget of big companies for conventions and conferences are put on hold, even big firms’ parties. People are holding on to their money now,” Protacio said.

Nevertheless, Protacio said Waterfront Cebu City Hotel and Casino is preparing for the rebound of MICE market especially in next year’s national election and expecting to grow as much as 40 percent for its MICE bookings and occupancy.

Hopefully, he said Cebu will have good MICE bookings these coming peak months from September-October and November, while the economy is showing recovery.

He said Waterfront has decided to renovate, after the last renovation during the ASEAN Summit in 2006, while more new hotels have come up and Waterfront will also have to keep up with the competition.

For City Hotels, Protacio said Cebu is no longer suffering from room shortage saying “we have more than enough rooms.” That is why the industry has to put their hands together and strengthen the strength of Cebu as MICE destination.

The 561-room flagship hotel of WPI, is now running at an average of 67 percent occupancy rate, a little percentage decrease from last year’s the same period.

However, Protacio said Waterfront is still performing above the average industry rate which is at 60 percent to 65 percent.

The additional 500 City hotel rooms that opened in Cebu City this year, has also pose a challenge for the industry players to improve the marketing of Cebu as MICE destination.

In 2007, Waterfront Cebu City Hotel and Casino, its flagship property contributed a p732.4 million revenue to the WPI, a 39 percent share from the company’s total revenue income for that year.

CREBA, DLS-SPaCE diplomas to real estate grads

Updated August 29, 2008 12:00 AM

The Chamber of Real Estate and Builders’ Associations Inc. (CREBA) and the De La Salle – College of Saint Benilde School of Professional and Continuing Education (SPaCE) will award diplomas to successful graduates of its real estate management program at commencement exercises on Saturday, August 30 at 2 p.m. at the CSB Hotel on Estrada Street, Malate, Manila.

This was announced by CREBA national president Reghis M. Romero II and Prof. Roque Magno, overall program director, professorial lecturer at the UP School of urban and regional planning, and former planning commissioner of the Housing and Land Use Regulatory Board (HULRB).

The diploma program in real estate management is open to present and would-be practitioners in the real estate profession and business. It is composed of six industry-responsive modules covering brokerage and marketing; laws and regulations; environmental planning; appraisal, consultancy and property management; technical planning, construction and development; and real estate financing, taxation, and investments.

CREBA and DLS-CSB consorcium started six years ago. Its has issued diplomas to 120 graduates and certificates of attendance to more than 1,000 participants.. The first of its kind in real estate education and practice in the Philippines, the program has been extended to institutions and agencies such as the Manila International Airport Authority (MIAA), Church of Jesus Christ of the Latter-Day Saints, and the provinces through CREBA’s network of chapters nationwide. Lecturers are well-known industry practitioners, government and academic luminaries, and various experts in specialized fields.

Classes are held from 1 to 7:30 p.m. on the 9th floor of CSB School of Design and Arts on Pablo Ocampo St., Malate, Manila for six consecutive Saturdays. Interested parties may call CREBA at 373-2270 to 73; email creba_inc@yahoo.com. or SPaCE at 400-7405.

How to's of realty brokerage

Updated March 13, 2009 12:00 AM

MANILA, Philippines - Many prospective realty investors and developers, fearing that they will lack the complete knowledge and experience becomes too cautious and sometimes hesitant in immediately going to business. In cases like this, it would be advisable for them to first set up a real estate brokerage and marketing company. In this way, for a smaller capital, the investor will be able to acquire more knowledge and experience and would also give him the opportunity to associate and to learn from veteran realty practitioners. This can serve as the stepping stone towards the bigger business fields of real estate such as property management, leasing, financing, build-and-sell and development. At the same time that it provides experience, real estate brokerage can be a very financially-rewarding profession that could build up more capital.

To learn more on real estate as a professional and be properly guided in managing a realty successful brokerage company, Urban Institute of Real Estate will conduct a seminar on “How To Start And Manage A Successful Realty Office” on March 25, 1:30 to 6 p.m. at the Maximo Function Room, Max’s Restaurant, 2^nd Level, Gateway Mall, Araneta Center, Cubao, Quezon City.

Topics included are sources and how to secure properties for sell; needed documents such as authority to sell; requirements to be entitled to commission; how to safeguard your commission; how to start and close a transaction; sales organizational structures; sales personnel recruitment techniques; training programs; advancement and career path programs; commission structures, awards and other incentives; how to do real estate networking; real estate associations; franchising; business operations; real estate brokerage, terminologies, definition of real estate professionals, qualifications and licensing requirements, subjects covered in the licensing examination; penalties for illegal practice, duties of a professional to his clients, and other relevant topics.

For other details or advance registration; Urban Institute may be reached at 948-8191 or 796-8019, or CP# 0916-426-9174/ 0921-683-9431 or by email at urbanet@pacific.net.ph or urbanet.ph@gmail.com. Details may also be viewed at www.urban-institute.blogspot.com.

Five qualities of a smart condo investment

Updated August 22, 2008 12:00 AM

Now is the best time to invest in real estate. News on rising fuel and commodity prices and a sluggish US economy may indicate otherwise, but Century Properties managing director Marco R. Antonio asserts that investing in property may be your best option to safeguard your liquid financial resources or savings.

“A real estate investment is a good hedge against inflation and a tangible investment unlike other investment,” he said.

Antonio recommends investing in residential real estate, such as high-rise condos located in prime city centers where property values continue to appreciate. “Buyers have the luxury at this moment to choose from a wide range of residential properties, and to avail of very competitive pricing,” he adds.

For those who are looking for a stylish and yet practical property investment in Makati, the country’s undisputed premiere financial, social and commercial district, Century Properties’ The Knightsbridge Residences may be the smart choice. “It is the product of our extensive research into the features and amenities that the market has been clamoring for,” he said. In the list below, Antonio sums up what makes up a smart condo investment.

1. Central location. Choose a condo that is situated in a premiere city center with continuously appreciating property values, such as Makati.

The Knightsbridge Residences will be in the smartest location of the metropolis—on Kalayaan Avenue in the heart of Modern Makati, and within the fully-integrated development called Century City, where dining, entertainment and leisure facilities will be a short walk away, and where you will be minutes away from Makati’s foremost establishments, corporate centers, five-star hotels, banks, schools and malls.

2. Developed by a reputable firm. Choose a developer with a proven track record and experience, and a premiere roster of completed projects.

With 22 years in real estate development, marketing and management, Century Properties has built a solid reputation in delivering prime residential and office projects. Included in its roster of premiere high-rise developments is the award-winning Essensa East Forbes; South of Market at the Fort, the country’s first Fully-Fitted, Fully-Furnished residential high-rise; Grand Soho Makati, the only Fully-Fitted, Fully-Furnished condo that offers residents three exceptional design options; Soho Central, the country’s first ever transportation-oriented residential development, and The Gramercy Residences, the first Fully-serviced, Hyper-amenitized luxury condo in the Philippines.

3. Fully-fitted, Fully-furnished units. Pioneered by Century Properties, this concept aims to eliminate all the move-in stresses from homebuyers, from getting additional interior designers or contractors, shopping for furniture or appliances to assembling complicated cabinetry. The Knightsbridge Residences carries this highly-acclaimed feature, plus 5 exceptional interior design options.

4. Hypersized amenities. Look for a condo that will expand your living experience beyond the four walls of your unit. At The Knightsbridge Residences, sprawling convergence areas called Hypersized Amenities will amplify your enjoyment of home. These amenities include an expansive designer Lobby, Library and Living Room, Recreational Room, Gym, Pool, Spa, Playroom, Dining Room and the Observatory.

5. Stylish and affordable. Choose a condo with a sleek but classic building design that will boost your pride of ownership. The Knightsbridge Residences will be a sight to behold with its towering curvilinear architecture and huge “Lanterns,” or levels of units with dramatic floor-to-ceiling windows that will stand to impress as iconic glass boxes that glimmer at night.

With the project’s high-design and high-style qualities, plus an affordable average price of below P2.5 million for a 27-sq. m. unit, no other offer will stand out as ideal for the smart investor.

For more information, visit www.knightsbridge.com.ph or call 818-9025 or 0915-7002000.

How to make the most of your real estate investment

Updated October 31, 2008 12:00 AM

While the global economic slowdown is seen to have less direct impact on the Philippine financial system, these times still call for prudence in making high-risk investments.

Filipino Expatriates who especially want to hedge their savings and do not want to invest in the volatile markets overseas may find an answer in hard quality assets, such as Philippine real estate.

According to Dr. Krassimir Petrov of Financial Sense: “Real assets hedge better than paper assets. By definition, real assets have a value of their own. Inflation does not erode their value.”

Meanwhile, Marco Antonio, managing director of Century Properties, points out that while real estate may have an intrinsic value, investors must still choose wisely, using these tried and tested cardinal rules:

Choose a well-located property so you are assured of value appreciation. A property located in central business districts or city centers will maintain high marketability. If you choose not to use it, you can always sell it, rent it out, or have it leased. Century’s The Knightsbridge Residences, for instance, offers the smartest location of the metropolis – in Kalayaan Avenue in the heart of Modern Makati, and within the fully-integrated development Century City.

Choose a reliable developer that has a proven track record of completing its projects on time. Look for a developer that has gained valuable experience and built successful projects even throughout different real estate cycles.

Visit The Knightsbridge Experience on the 2nd floor, high-rise tower of The Pacific Star Building, on the corner of Makati Avenue and Sen. Gil Puyat Avenue, Makati City. For more information, visit www.knightsbridge.com.ph or call 818-9025, 0915-700-2000, +63917-5555-274 (CPI) or +

Lantana Lane: A wise 'direct cost' real estate investment

Updated April 17, 2009 12:00 AM

Lantana Lane is designed by eminent architect Francisco ‘Bobby’ Manosa known for his ‘Contemporary Filipino Tropical Architecture.’

MANILA, Philippines - Jose Mari Cuervo, CEO of Cuervo Appraisers Inc., one of the country’s most respected property valuers says those looking to buy real estate for personal use or as an investment, should look into real estate syndication to get the most value for their money.

The Syndicator charges a “professional fee” for its services—usually about 10 to 15 percent of project cost. It does not make any profit over and above the project cost like a Developer would normally make.

The traditional developers’ profits range anywhere from 30% and higher. In a syndication, this margin goes directly to the investor in the form of savings. This is why syndications are usually 40% lower in cost than developer-led projects in the same vicinity with similar specifications.

“The syndication concept though first used in the country for residential high-rise condominiums can also work with other projects,” according to Cuervo. Mañosa Properties, Inc., sister company of Mañosa & Co. has thrown their hat in the ring by offering boutique residential townhomes along Lantana St. in New Manila, Quezon City.

Lantana Lane (www.manosa-properties.com, 497-7302 or 0927-3837442) is a development that has been truly designed for the Owner-Occupier. The sprawling 3,230 sqm lot will only have 16 units, making this boutique residential project unlike any other townhouse development in the area. Each 380 sqm unit comes with 4 full bedrooms, dining and living areas, a family room, maids’ and drivers’ quarters and a penthouse roof deck.

Each unit at Lantana Lane costs about P39,000 per sqm, or approximately P15.5 million for a 380 sqm townhouse. The project will also use Banco de Oro as its escrow bank for investors, making sure that all funds are used solely for this development.

Economic principles of real estate

MANILA, Philippines - Many individual investors were lured into buying real estate investments during the booming days of real estate, even without a complete understanding of the ABC’s of real estate investing. But now, with the looming economic slowdown and difficulties, there is a need to go back to basics and learn more, specially the very important economic principles of real estate, which were often neglected by real estate investors.

In this regard, Urban Institute of Real Estate will conduct a lecture on “The Important Economic Principles of Real Estate” on Wednesday, March 11, 1:30 to 6 p.m. at the Maximo F unction Room, Max’s Restaurant, 2^nd Level, Gateway Mall, Araneta Center, Cubao, Quezon City.

This lecture will include a review of the basic principles of capitalism such as the factors of production, what determines prices and output, the law of demand and the law of supply; the economic features of real estate; the how’s and why’s of government interventions in the economy, a discussion of the perfect market compared to the real estate market, the business cycles compared to the real estate cycles; the relationship of money, credit and real estate, effect of inflation and other economic conditions to real estate such as the unexplained economic situation of rising prices during periods of recession; applied real estate economics which includes effect of changes to real estate, forecasting, doing a sensitivity analysis and decision making in real estate; and lastly how to anticipate changes in real estate such as land use controls, shortage of land supply, improving consumer awareness and activism, the need for specialized knowledge, changes in population, living standards, system of transportation, technology and energy supply.

For other topics or details or advance registration, Urban Institute may be reached at 948-8191 or 796-8019, or CP# 0916-426-9174 or 0921-683-9431 or by email at urbanet@pacific.net.ph or urbanet/ph@gmail.com or by visiting www.urban-institute.Blogspot.com

An ace investment

Updated April 03, 2009 12:00 AM

8 Forbes Town Road Golf View Residen-ces, the last prime piece of property in Bonifacio Global City bordering Manila Golf & Country Club, is selling as fast as a player’s swing.

MANILA, Philippines - In making the choice of a golf course, it makes sense to confine the travel within the golf course, instead of spending a good part of your day traveling towards the golf course. That’s why Metro Manila’s golf courses prove to be a popular destination, especially those laden with tradition. Imagine playing in one of Manila’s most fabled golf courses, then after all that walking and hitting, you simply waltz into your home while your companions brace themselves for the long drive ahead.

If what drives you is the pure pleasure of golf, 8 Forbes Town Road Golf View Residences is definitely the choice for you.

It’s relatively easy to brag about your golf membership, but how many people can actually say they live next to the course (and in the heart of the metro at that)? The opportunity offered by the last prime property in Forbes Town Center, Bonifacio Global City is too good to resist. Each unit comes with an ace: a stunning, unobstructed view of the famed Manila Golf & Country Club. So if circumstances prevent you from playing golf right now, you have the enviable luxury of watching others from a distance from your 1-, 2- or 3-bedroom enclave.

If the sway of golf hasn’t convinced you yet, the aesthetics of the development will surely hook you. The well-appointed lobby offers a stunning view of the golf course nearby, so all you’ll need to convince yourself to drop everything to play is the smell of grass and the shouts of “Fore!”

To be a winner in golf and in life at the same time by residing at 8 Forbes Town Road, please call 815-1888 or visit the Forbes Town Center showroom along Rizal Drive cor. 26th Street at Bonifacio Global City. Or check out www.megaworldcorp.com.

How to analyze realty investment

Updated April 24, 2009 12:00 AM

MANILA, Philippines - To keep up with competition or avoid investment failures, real estate developers, investors and professionals must cope with new financial and management concepts that continuously evolve due to radical changes in the financial market and other factors. Although real estate finance is not an exact science especially when subjective analysis, experience and creativity sometimes works, still its basic fundamentals should be learned first by prospective investors, borrowers, lenders and newcomers before venturing into real estate investments.

Urban Institute of Real Estate will conduct a lecture on Fundamentals of Real Estate Finance and Investment Analysis on Wednesday, May 4, 1:30 to 6 p.m. at the Maximo Function Room, Max’s Restaurant, 2^nd Level, Gateway Mall, Araneta Center, Cubao, Quezon City.

For other topics or details or advance registration, Urban Institute may be reached at 948-8191 or 796-8019, or CP# 0916-426-9174 or 0921-683-9431 or by email at urbanet@pacific.net.ph or urbanet.ph@gmail.com or visit www.urban-institute.blogspot.com.

Where luxury living is an investment

Updated July 10, 2009 12:00 AM

MANILA, Philippines - The word “luxury” seems to turn into a pariah during a financial crunch. But what if your comfortable, classy and private abode also give you the chance to make some money on the side?

Sta. Lucia Land Inc. brings into fruition its first condominium project in Metro Manila. The La Breza Tower (The Breeze) right along Mother Ignacia St. Quezon City is a luxurious development just off EDSA, the main circumferential artery connecting the north and south ends of Metro Manila. La Breza is a classy, quiet and luxurious aerie that is cooled by delicate breezes that easily flow through the gently rolling terrain and wide open spaces of suburban Quezon City.

At the same time, La Breza (which is conveniently at walking distance from both Edsa and Quezon Avenue) is at the hub of powerful media conglomerates ABS-CBN and GMA-7, allowing it to bask in the glimmer of the worlds of television and cinema, with the enticing sparkle of celebrity. Furthermore, La Breza is close to the Ayala Trinoma Mall, and the Quezon Avenue MRT station; as well as being just a stone’s throw away from the strip along Tomas Morato Avenue, with its fine dining restaurants, night spots and quiet little watering holes. Several hospitals, including the Heart and Lung Centers of the Philippines, are a short drive away.

Being close to the hub of media glamour and bustling commercial activity, it makes sense that La Breza combines commercial space (ground and second floors), condotel functions (third to seventh floors) and residential units at the 8th to the 22nd floors. At the ground and second floors are restaurants, specialty shops and the hotel lobby.

For inquiries on La Breza Tower, please contact Royale Homes Marketing Corporation, its exclusive marketing network at telephone numbers (+632) 726.4288/ 726.4317 or log on to www.royalehomes.ph.

Buying real estate for investment purposes

Updated June 19, 2009 12:00 AM

MANILA, Philippines - People usually buy real estate for residential purposes but there are those who wisely purchase a condominium unit, which can be rented out or sold in the future, as investment.

Buying a piece of real estate means that several factors have to be considered before even writing your first check. The first factor to be considered is location, so that transportation and communication do not pose problems. Secondly, it is best to choose a property that is easily accessible and near commercial and business districts, schools and hospitals.

Escalades at the 20th, a 1.4 hectare mid-rise housing development is located in the heart of Cubao, Quezon City, is a few minutes away from the Metro Railway Transit, Light Railway Transit 2 and EDSA. It is also very near Araneta Center, which houses Gateway Mall, Araneta Coliseum and many restaurants and shops and less than 20 minutes from schools and universities like the University of the Philippines, Ateneo de Manila University, Miriam College, among others.

“Property values in Quezon City, especially Cubao, are very resilient with potential for growth. Buying a unit at Escalades is definitely a good investment for the future,” says Marilu Alferez, Robinsons Land Corp. senior vice president and general manager.

“When buying real estate, always inspect the finished product to make sure that it is well made and constructed. Check if the condominium unit and building can withstand the elements and test of time,” she says.

Alferez adds: “Living at Escalades offers would-be buyers a chance to own a piece of property that’s unique in that it is like living in the suburbs in terms of open spaces and safety and security without being too far from the center of things.

A more relaxed lifestyle is attained with the family-friendly amenities available in Escalades at the 20th Avenue. These include over 70 percent of open spaces with a playground for children, a jogging path, a swimming pool for adults and kids, gym, a multi-purpose function room, picnic area with barbeque pits, Gazebo Luna, and an exterior circumferential road.

Escalades is designed by Robinsons Land with its professional design partners, following a method called green architecture where buildings are made to be energy-efficient, allowing more natural sunlight into each unit and hallway, and providing greater air ventilation. The studio units, which are well-constructed, offer 22 square meters of space, the 1-bedroom unit 32 sq m and the 2-bedroom unit 50 sq m

Each unit is hooked up to basic amenities like individual electric and water meter, cable TV line, provision for telephone line, opening for owner-supplied window-type air conditioner, sprinkler system and provision for washing machine connections.

Building facilities include a reception/security counter for every building, standby power generator for common areas and selected outlets in the residential units, automatic smoke detectors and fire alarm, drying cages on every roof deck, individual mailboxes and central garbage room.

In addition, waste water from the residential units passes through a Sewage Treatment Plant (STP) which filters the water and will be used to irrigate the vast open space of the development.

You can own a unit at Escalades at the 20th Avenue for as low as P6,000 monthly. For more information, contact 397-1888, 397-0101 and 09228380888, or go to www.robinsonsproperties.com.ph

A worthy investment

Updated July 17, 2009 12:00 AM

MANILA, Philippines - Want to know how you can make your P20,000 into a P4 million worth of real estate investment?

Or do you want a condo unit or a vacation place located at the heart of a busy Quezon City that almost pays for the entire monthly mortgage for you? Or a condo unit that can serve as your retirement income?

Or simply, how would you want to be a hotel-part owner?

Got you interested?

Then proceed this Saturday, July 25, from 8 am onwards, to the Bayo Condotel Suite’s site office along Sct. Bayoran and Sct. Tuazon, South Triangle, Quezon City to learn more of what this is all about.

PhilProperties International Corp.’s Manny Florendo said this is a good opportunity for people to get acquainted to this unique selling proposition fit for today’s lifestyle.

“After a long day of work, we deserve to be treated as king or queens. At Bayo Condotel, you have a place to rest comfortably right at the heart of a busy city, near work, near play, and you can eat at the best dining and fine dining along Tomas Morato and Timog,” he said, adding that the usual real estate for sale or condo or house and lot for sale just went up a notch higher.

Strategically located along Scout Bayoran corner Tuason St., Quezon City, near both Kapamilya ABS-CBN, Kapuso GMA Networks and Camelot Hotel, Florendo said the facility boasts of being tagged as the “Most Affordable Condotel at the heart of Quezon City.”

How to get there? It is easily accessible to all major roads and transportation such as Edsa and Quezon Avenue and the Metro Rail Transit.

For students, the condotel is also close to popular educational institutions such as: St. Mary’s College; Paref Northfield; STI; Miriam College; Ateneo De Manila University; University of the Philippines-Diliman.

For those who are health conscious or emergency cases, it is also near hospitals such as: St. Luke’s Medical Center; Capitol Medical Center; Philippine Heart Center; East Avenue Medical Center; Veteran’s Memorial Medical Center.

For more information, please contact: PhilProperties at phone number 667-3757 and 914-4927, or cellphone number 0917-930-7742, or email at info@philippineproperties.ph

You may also visit their websites at: http://www.philippineproperties.ph, http://www.philproperties.ph.

RP property sector to pick up soon - expert

By Jonas O. Maniquis Updated July 17, 2009 12:00 AM

Licuanan and Katigbak

MANILA, Philippines - The local real estate market has experienced some softening as a result of the recent global economic crisis, but the sector is now at a stage where it should start picking up.

Philippine real estate icon Francisco Licuanan also said that now is the time to buy property while there are more products in the market and the interest rates on loans are low. “There is also an expectation of a price appreciation,” he said.

Licuanan, chairman and CEO of Geo Estate Development Corp., noted that the middle income group, which is the company’s market for its maiden project, is less volatile than the higher income group because the former is less driven by speculation.

And it is in this middle income market that Geo Estate intends to focus in the near future. “Being a smaller organization, we want to focus on the largest market where we can make a difference,” Licuanan, who led Ayala Land for nearly two decades since its inception in 1988, added.

The president of Geo Estate is Miriam Katigbak, who for nearly 20 years, served as the head of the Ayala Malls group and more recently, as head of Ayala Land’s signature projects.

This early, Geo Estate is already looking forward to launching its next project, a residential subdivision in Cavite.

Geo Estate embarked on its maiden project in 2007 via a huge parcel of land in Makati sold by the property’s owner RCBC. Geo Estate designed The Beacon, an P8-billion project, to be a superior value real estate product for the modern urban dweller. It is being constructed at a one-hectare property at the corner of Don Chino Roces and Arnaiz Avenue.

The Beacon is a three-tower residential condominium development infused with luxurious amenities and a resort ambience. Once all the three phases of its development are complete, company officials said it will redefine condominium living by offering its residents an exclusive residential resort lifestyle in Makati City,

In planning The Beacon, Geo Estate said it kept the needs and wants of condominium owners in mind and incorporated unique facilities and services into its design. A resort-style pool with lap lanes, expansive gardens, a well-equipped gym, massage rooms, a mini-theater and a Sky Lounge serve to melt away the tensions of city life.

Structural works on the 44-storey Roces Tower has now reached the 42nd floor. Phase 2 of the project, which includes Arnaiz Tower, has already began selling.

Robinsons Land's P10-billion bond issue gets highest rating

By Zinnia B. Dela Peña Updated July 23, 2009 12:00 AM

MANILA, Philippines - Philippine Rating Services Corp. (PhilRatings) has maintained its highest rating of PRS Aaa for Robinsons Land Corp.’s proposed P10-billion bond issue.

“Obligations rated PRS Aaa are of the highest quality with minimal credit risk. The obligor’s capacity to meet its financial commitment on the obligations is extremely strong,” said PhilRatings, the sole domestic credit rating agency accredited by the Bangko Sentral ng Pilipinas.

The amount includes RLC’s initial issuance of P5 billion in July and a proposed second issuance of an additional P3 billion, with an oversubscription option of P2 billion. Proceeds from the issue will be used to fund the real estate firm’s capital expenditures.

In retaining its rating, PhilRatings reviewed RLC’s revised projections in relation to the increase in issue size. Based on its reevaluation, the business and financial profiles of RLC continue to be extremely strong, with minimal credit risk.

“While some financial ratios have slightly changed with the higher amount of the planned issue, measures of profitability, liquidity and leverage remain generally strong and sound,” PhilRatings said.

PhilRatings noted that RLC’s net and operating margins for the first half of fiscal year 2009 were higher compared with similar ratios the previous year-period as almost flat revenues were offset by lower expenses. RLC posted a net profit of P1.6 billion on revenues of P5.1 billion.

The company’s company’s initial P5- billion bond issue was more than four times oversubscribed. The bonds carried a yield of 8.5 percent per annum and a term of five years and one day.

HSBC and SB Capital Investment Corp. were the joint issue managers while BDO Capital & Investment Corp., BPI Capital Corp. HSBC and SB Capital were the joint underwriters.

RLC, a member of Gokongwei-owned conglomerate JG Summit Holdings Inc., is one of the country’s leading real estate developers in terms of revenues, number of projects and total project size.

It is engaged in the development and operation of shopping malls and hotels, the development of mixed-use properties, office and residential buildings, as well as land and residential housing developments, including socialized housing projects located in key cities and other urban areas nationwide.

RP likely to avoid recession - NEDA

By Marvin Sy Updated July 23, 2009 12:00 AM

MANILA, Philippines - With recent forecasts of major world economies moving out of recession and the revised outlook on the US economy, the Philippine government has become even more confident the country would avoid a recession this year.

National Economic and Development Authority deputy director general Rolando Tungpalan, in his presentation before the Cabinet as part of the regular global recession impact monitoring news reporting, noted that the International Monetary Fund has indicated that the global economy is now moving out of recession.

The United States Federal Reserve has also upgraded its outlook on the US economy from a contraction of 1.3-2 percent to a slimmer negative growth of 1-1.5 percent.

Tungpalan also cited a report released by a US-based independent research firm Global Source, which indicated that the Philippines will not go into recession.

The latest data on overseas Filipino workers remittances coming from the Bangko Sentral ng Pilipinas also showed continued growth in this sector.

OFW remittances in May this year grew 3.7 percent, contrary to predictions made by several analysts that this would suffer from a contraction this year.

Tungpalan noted that the BSP expected a flat growth for OFW remittances this year in spite of the global economic slowdown. In contrast, the World Bank and IMF both forecast a four-percent contraction.

“So this clear evidence of positive developments do point out that recession is out of the question,” Tungpalan said.

Tungpalan cited Several other external factors to back up the government’s optimism on attaining its 0.8-1.8 percent growth target for this year.

He noted that China’s impressive 7.9-percent growth in the second quarter provides a huge opportunity for the Philippine economy in terms of expanding trade and investments.

China is among the major trading partners of the Philippines and with relations between the two countries continuing to be very strong, the country hopes to ride on the strength of China to move the economy forward.

“China continues to post strong growth. We reiterate the importance of engaging China for more trade, investment and tourism,” Tungpalan said.

In the domestic front, Tungpalan cited the positive outlook on retail trade, specifically the growth of car loans by the banks and the expansion of the major malls in the country.

Tungpalan said auto loans grew 48 percent in May, up from a negative 6.6 percent growth last year.

The SM Group of Companies also continues to expand its operations in the country with its plan to open four new malls this year.

“We expect positive growth. We will not adjust our own expectations until we see the second quarter GDP performance which will be released on Aug. 27,” Tungapalan said.

Palace announces holidays for 2010

Updated July 23, 2009 12:00 AM

MANILA, Philippines - In response to calls from the business sector for an early announcement of the schedule of holidays, President Arroyo has released presidential proclamation declaring all the holidays for 2010.

Executive Secretary Eduardo Ermita said the business sector has long complained of the last minute declarations of special non-working holidays, which have affected their operations.

“I only gathered from the Department of Labor and Employment that a big company will lose up to P8 million a day every time non-working holidays are declared,” Ermita said.

Proclamation 1841, signed by Mrs. Arroyo last Tuesday, lists all the regular, special non-working and special holidays (for all schools) for 2010 as required by Republic Act 9492 or the law rationalizing the country’s holidays.

The law provides that holidays, except those which are religious in nature, be moved to the nearest Monday unless otherwise mentioned by law, order or proclamation.

The list of regular holidays for 2010 is as follows:

Jan. 1, New Year’s Day; April 1, Maundy Thursday; April 9, Araw ng Kagitingan; May 1, Labor Day; June 14, Independence Day; Aug. 30, National Heroes Day; Nov. 29, Bonifacio Day; Dec. 25, Christmas Day; and Dec. 27, Rizal Day.

The special non-working holidays are Aug. 23, Ninoy Aquino Day; Nov. 1, All Saints’ Day; and Dec. 31, the last day of the year.

The President, “in order to foster closer family ties and enable our countrymen to observe Christmas more meaningfully,” added Dec. 24 as a special non-working day.

“This will also serve to strengthen family relationships by providing a longer weekend and renewing ties for a longer period of time as well as promote domestic tourism,” the proclamation stated.

A special holiday, which applies only to schools, was also included in the proclamation, namely Feb. 22 for the celebration of the EDSA People Power Revolution.

“The EDSA People Power Revolution, which restored and ushered political, social and economic reforms in the country, serves as an inspiration to Filipinos everywhere as a nation and as a people,” the proclamation stated.

In the case of the Islamic holidays Eid’l Fitr and Eid’l Adha, separate proclamations would be issued once the approximate dates have been determined in accordance with the Islamic calendar (Hijra), the lunar calendar or upon Islamic calculations.

These holidays would be celebrated as regional holidays in the Autonomous Region in Muslim Mindanao. – Marvin Sy

Cebu landowner to host first eco-center in Southeast Asia

By Ehda M. Dagooc Updated July 22, 2009 12:00 AM

CEBU, Philippines - The Tri-Globe Capitals of Canada has entered into a partnership with a Cebuano landowner to establish a P600 million first Eco-Center in Southeast Asia to be situated at a 3.5 hectare property on barangay Sabang, Olango Island, Lapu-Lapu City.

The Tri-Globe Capitals and Canton family led by Macaraig Canton Jr.,formed the Cebu Eco-Center Inc. (CEC) that will manage and operate a 50-room, 100-bed resort facility along with classrooms, a scuba diving center, electronic library, observation tower (for the bird sanctuary), restaurant bar, mangrove walkways, spa and wellness center, first-aid clinic, and a dock to receive small craft from other islands.

In a press conference, CEC president and chief executive officer (CEO) Marc Canton said that the phase one of the project which will build the resort facility and support services is expected to finish in one year’s time after the company will break ground this coming October. This first phase will incur the company at least P160 million.

The company is looking at acquiring adjacent properties within the development to pursue a total of 6.5 hectare long term development.

Canton said phase 2, which is set to get started after the completion of Resort structure, will involve a larger cooperation from the local government unit (LGU) as it will set up the needed infrastructure support such as waste water and solid waste management system, development of renewable energy using the sea-pressure turbine, as well as solar and wind energy, establishment of water supply technology using Reverse Osmosis and desalination, among others.

This project is the first accommodation facility to be set on the popular Olango Island, which is the sanctuary of migratory birds from all over the world. The property is located in the Southeast corner of Olango Island, right next to the bird sanctuary.

Since the development is going to involve largely environmental responsibility and sensitivity so as not to disrupt the eco-system of the bird sanctuary and marine reserves in the area, Canton said the company has partnered with environmental experts like the Scripps Institute of Oceanography—University of California in San Diego and the University of San Carlos (USC), and also deployed environmental experts to study area.

“CEC is designed to be a center of excellence for coastal management ecosystem, marine biology and ornithology,” Canton said.

Although, the Tri-Globe Capital has committed to even fund more projects up to $1 billion (Canadian dollar) here, Canton said CEC has also gotten a financial back up to 70 percent of the total project cost from the Development Bank of the Philippines (DBP).

The group of investors from Canada, through the Tri-Globe Capitals were convinced to put in money in this kind of development in the Philippines, following the country’s Eco-tourism Destination award given a Nature publication in France.

The Canadian investors are also impressed of the government through Department of Tourism (DOT) strong advocacy in promoting eco-tourism.

Although the eco-center’s accommodation will be designed as world-class, Canton said room rates will be pegged in a very affordable range.

It will provide a European-sea-class-hotel level with rates seen to hover within $40 to $50 (Canadian dollar) per night.

Based on International Ecotourism Society (IES) statistics, about 15 percent of the total tourists around the world are eco-tourism enthusiasts, and this number is growing as “green” interest has becoming more popular all across segments.

Canton added that although 15 percent are hardcore ecotourism travelers, about 90 percent of the worldwide tourists prefer a place that is “green.”

Aside from providing economical boost to 5,600-resident barangay on the Island, Canton said the facility will also hire local residents to man the facility. A free medical clinic for the residents will also be installed, Canton concluded.

Cedfit initiates training program for BPO mid-management pool

Updated July 22, 2009 12:00 AM

CEBU, Philippines - In its bid to address the shortage of mid-management supply in Cebu, the Cebu Educational Development Foundation for Information Technology (Cedfit) partners with John Clements Consultancy Inc., and Harvard Business Publishing to introduce the “New Manager Program” in Cebu.

According to Cedfit managing director and chief executive officer Bonifacio Belen, the program is expected to provide 3000 middle management manpower in Cebu in the next two years.

The program aims at equipping new managers with management and leadership skills, develop critical thinking and decision making skills, and transforms managers into a team player for an individual contributor—thus enhancing their skills for practical, day-to-day applications.

Belen said this program is meant to aid Cebu’s weakness in providing middle-management skill, while industry players, especially in the Business Process Outsourcing (BPO), and IT businesses are complaining for the lack of supply for middle-management skill here.

The “New Manager Program” will initially train 20 people once a week and will run for eight weeks. However, due to the strong demand for mid-management skills, Belen said Cedfit is looking at introducing a daily training in different batches to immediately produce a certain number of qualified managers in the next one or two years.

Each batch will only accommodate 20 people. If this will be done in a daily basis instead of once a week, Belen said Cedfit and its partners can easily produce at least 100 graduates in eight weeks’ time. In this way, Cebu can easily produce at least three thousand skilled managers in a maximum of two years.

This distinctive course for middle managers is specifically directed to mid-to-executive level leaders belonging to the IT, IT-enabled and other services, and manufacturing industry.

Some BPO multinationals have already expressed some of their concerns in the local level, like the scarcity of mid-management manpower supply that will need a strong support from the local academe sector, and other support industries.

This problem, among others will be easily solved, if BPO firms will have its own Business Support Organization (BSO) that will work closely with concerned government agencies in the local level, as well as other business groups and multi-sectoral organizations.

Australian BPO firm Tech Growth Solutions Cebu Inc., chairman and director for finance Michael Burdette said that one of the issues that will need an immediate intervention in order for Cebu to take off as a preferred BPO destination in the world, is to provide ample supply of mid-management manpower.

Likewise, Wipro BPO Philippines Ltd. Inc., country head Romit Gupta echoed Burdette’s sentiment, saying Wipro is having difficulties in hiring managers, senior managers and supervisors, although hiring entry-level employees is much easier because of ample supply. —Ehda M. Dagooc

Lapu sees P10B revenues from reclamation project

By Ehda M. Dagooc Updated July 23, 2009 12:00 AM

CEBU, Philippines – The Lapu-Lapu City government expects to earn P5 billion to P10 billion in revenues in the next few years, as the 400-hectare Mactan North Reclamation and Development Project (MNRDP) kicks off operations.

This early, the City government led by Mayor Arturo Radaza is working to get its Environment Compliance Certificate (ECC) from the Department of Environment and Natural Resources (DENR), and notice to proceed from the Philippine Reclamation Authority (PRA).

In an interview with MNRDP project manager Michael Dignos, he said that the project is running on schedule and full development of the area will start immediately after the elections in 2010.

The project, which will cover four barangays of the city, namely; Ibo, Mactan, Buaya, and Punta Engaño is seen to bolster the economic strength of the city, as it will be positioned as the next financial district in the Philippines, second to Makati City.

As soon as the project will be implemented, Lapu-Lapu City will have its own International Port, Information Technology and tourism zones, retirement village, golf courses, among others.

Based on a feasibility study, Dignos said the reclamation project will contribute multi-billion-peso revenues estimated at P5 billion to P10 billion every year, depending on the contracts entered into by locators and developers of the property.

The MNRDP got the approval of the Office of the President in 2004, and was reiterated by the PRA last year.

“We are running on schedule,” Dignos said adding that full implementation of the project may start immediately after the election in May of 2010.

For its first year, MNRDP is expected to rake in a revenue contribution of P2 billion to P3 billion. The full utilization of the property however, will bring revenues to as much as P10 billion annually.

According to Dignos, there are already a lot of prospective and interested investors that expressed interest to locate at the area, but the government can not negotiate yet, as documentary processes are still on works.

For one, he said the Mactan Economic Zone (MEZ-1) has already expressed interest to put its expansion site at the area, among other investors like resorts, hotels, retirement village, golf courses, and other businesses.

The need for reclamation project in Lapu-Lapu is needed in order to sustain investors’ appetite to locate in the area, as it is considered as the tourism center of Cebu province.

Dignos said as soon as all documents will be completed the government will soon implement to start the project.

Attracting locators is not a problem, he said as even this early a lot of investors are already waiting and have proposed their plans of developments in the area.

Last Tuesday, the City government of Lapu-Lapu awarded its top 20 taxpayers in 2008, that include mostly multinational companies operating on the island such as Shangri-La’s Mactan Island Resort and Spa, Lear Automotive Services (Netherlands), Corporation, Hilton Cebu Resort & Spa, Mactan Electric Co., Inc. (MECO), Plantation Bay Holdings Corporation, among others.

Lapu-Lapu City gained new investments of P4.7 billion in 2008. More new investments are expected to pour in on the island especially as soon as the MNRDP is already operational.

Citylights units 70% sold out prior to launch

By Rhia de Pablo Updated June 18, 2009 12:00 AM

CEBU, Philippines - Condominium developer Syntech Properties Inc. continues to see good prospects in Cebu after the tower three and four of its latest project, Citylights Gardens is now 70 percent sold out before it could actually launch this month.

Citylights Gardens sales and marketing manager Anita G. Blanco said that the newest towers of City Lights are already 70 percent taken before its launch date slated in June 25.

She said this development is laudable considering today’s soft economy, wherein selling properties have become so difficult since buyers are now very cautious about the quality of investments that they make.

Blanco said they started selling the units of towers three and four when the construction of the project started in 2005.

“We encountered hard times in selling because of the economic crisis which hit at the second half of last year but we never got zero sales every month,” said Blanco.

She said that they have felt the slowdown because their sales have declined by 50 percent on a monthly basis and from eight units they usually sell only four units per month when the crisis hit the country.

But she stressed that their company remains optimistic because with the completion and grand opening of the new towers, they are also seeing an increase of their sales as buyers are expected to gain more confidence in their investments.

“Now, our sales are up again because buyers have gained confidence in buying our units because it is all done and completed. If they buy a unit now, it will be income generating already because they can rent it out and use the monthly rental to pay for its amortization. Expats and foreign executives prefer living at Citylights Gardens because of its location and there are already a lot of them who have bought and rented out our units,” said Blanco.

Citylights Gardens is an upscale condominium development project in Nivel Hills that is composed of four towers; the first two towers are composed of 14 levels and collectively consist of 144 units.

The newest towers three and four on the other hand which stands at 20 stories high are collectively composed of 216 prime residential units, said Blanco.

Backed by its Singapore-based holding company, Who Hup Group, Syntech invested P2.6 billion in the development of the Citylights Gardens project and the construction of the last two towers was supported by the Development Bank of the Philippines which provided P300 million loan facility for the said project.

Blanco said that despite the height of the global economic crisis, Syntech was still able to complete the towers three and four right on schedule in the second half of last year.

She said that Citylights Gardens has become a major landmark in Cebu’s skyline and with its resort-style condominium facilities, it can be considered as the only residential condominium development “unrivalled” by any of its kind in Cebu.

Blanco said that the new towers offer more value for money amenities and features to buyers as it comes with only six units per floor offering unit owners exclusivity and security within a gated community.

The units come with a choice of two to three bedroom units which comes fully finished and fitted with sanitary fittings and fixtures, kitchen cabinets, storage cabinets, floor to ceiling height wardrobes or closets, smoke detectors, cable TV, telephone and internet connectivity.

The price range for the two bedroom unit range from P7.5 million to P8.8 million while the three bedroom units range form P9.3 million to P10.8 million.

Realty developer enjoys upbeat property take-up

By Rhia de Pablo Updated June 19, 2009 12:00 AM

CEBU, Philippines – Maria Luisa Properties noted a positive development with the surprising upward trend in take-ups and rentals of their high-end projects.

In an interview with Maria Luisa Properties sales and marketing manager Jovy A. Beltran, he said that it has been a “surprising” observation that amidst the negative prospects of the economy due to the global crisis, clients from the high-end segment of the market are now starting to invest again in real estate.

He said that indication of this positive development in the market is the fast movement of their high-end projects such as the Maria Luisa Estate, Park Mahogany Place and the 8 Maria Luisa properties.

Beltran said that their clients who have bought lots in their properties are now starting to build their houses as if unabated by the threats of the global economic crisis.

“People are not getting much from banks because they are given minimal interests for their savings so most consumers are now investing in properties and real estate products to grow their hard earned money,” said Beltran.

He said that they have started to notice this positive movement in the market just a month ago and they were surprised because normally investors would tend to hold on to their money during times of economic difficulties.

Beltran also noted that at these times, a lot of foreign companies have come to the Philippines specifically to Cebu to expand their businesses in the area after having realized its huge potential as a growth area.

He said that this influx of both local and foreign investors in Cebu has been helping the real estate sector stay afloat at these tougher times because these companies have taken and rented several units in their properties for the use of their executives.

“Investors are coming in to Cebu and a lot of our houses and lots are moving fast even rentals in the high-end segment. We have noted there has been an influx of housing construction going on in our properties as well,” said Beltran.

He said that in the previous months, the take outs of their properties were not as fast as it is now and there has even been a decrease of sales and inquiries.

Beltran said that this influx of investors and the positive development in the high end market segment could reflect the first stages of the recovery period for real estate because during the height of the crisis, the high-end segment were the first ones affected because of exposures in the collapsed financial sector.

“Real estate is starting to move upwards and is starting to show signs of recovery that is why we are very positive considering the influx of investors which has gradually increased compared to the past months,” said Beltran.

He said that although the middle-end market is still slowly moving at this point, they are still pushing their latest middle-end development project Red Stone Village in Talamban as well as their socialized housing project Dancing Sun Subdivision in Carcar because they continue to see a demand in these segments.

Beltran said that with Maria Luisa Properties’ continued optimism in Cebu’s real estate market, they will soon be having a new project in Jagobiao in Mandaue that will be started in the last quarter of this year.

“There is still a lot of optimism on our part because we are getting good indicators that the market is slowly moving up and is on its way to the first stages of recovery,” he added.