RLC to build Robinsons Galleria Cebu, its biggest outside Metro Manila

(The Philippine Star) Updated July 27, 2012 12:00 AM

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Manila, Philippines -  Robinsons Land Corporation is breaking ground this July 26 on the site of what will be its 38th and biggest mall outside of Metro Manila in the North Reclamation area of Cebu City, where the Gokongwei business empire first took root and flourished.
Robinsons Land Corporation (RLC) is ramping up investments in Cebu, which is experiencing robust economic growth, a vibrant retail industry and a booming tourism sector”, said RLC president Frederick D. Go.
Robinsons Galleria Cebu will be a mixed-use development which will include the first Cebu branch of gohotel.ph as well as office spaces for business process outsourcing firms.
The seven story commercial building will rise on a 4.6 hectare lot along General Maxilom Avenue, Cebu City and will have a gross floor area of about 156,000 square meters (sqm).
The hotel will have 153 rooms, the BPO offices will occupy three floors with over 9,000 sqm of leasable space, while the mall will have a gross leasable area of 56,000 sqm spread on four levels.
Robinsons   Galleria Cebu’s anchor tenants will include Robinsons Department Store, Robinsons Supermarket, True Value, Robinsons Appliances, Saizen, and Toys R’ Us. It will also have six cinemas, including two 3D theaters, with a total seating capacity of 1,800. The mall will have about 300 tenants offering a mix of international brands and popular local brands. Tenants will also include homegrown Cebuano retail shops, restaurants, amusement centers and new entertainment attractions.
Robinsons Galleria Cebu is seen to attract shoppers and tourists from nearby   government   offices,   consulates,   churches, hotels, shipping terminals, schools including the University of San Carlos and University of Visayas, and popular tourist destinations such as Magellan’ Cross and three museums.
The mall is slated for completion and opening in 2014. It will come after RLC opens five Robinsons Place malls in Butuan, Roxas City, Malolos, Malabon and Santiago, Isabela.
Go said the masterplan for the Gen. Maxilom property also includes the construction of high-rise residential condominiums which will benefit from the proximity of the mall and BPO offices.
Robinsons Land also owns and operates various properties in Cebu which cuts across RLC’s various business units.
Robinsons Galleria-Cebu will be RLC’s third mall in Cebu after Robinsons Fuente, and Robinsons Cybergate Cebu, which is a mixed use mall and office development also in the Fuente Osmeña area.
 Robinsons Land currently operates the newly renovated and improved Summit Circle Hotel in Fuente Osmeña Circle. The Group will soon have three hotels in Cebu, including the Summit Shores Resort hotel which will be part of the upscale Amisa residential development on Mactan Island. 
The firm is also building the Azalea Residences, a residential development in Gorordo Avenue. Other RLC residential properties are Blue Coast and Aspen Heights which are under the Robinsons Communities and Robinsons Homes brands, respectively.

Robinsons Galleria breaks ground in Cebu

By Ehda Dagooc (The Freeman) Updated July 27, 2012 12:00 AM 

 CEBU, Philippines - Gokongwei-led conglomerate JG Summit Group's real estate arm Robinsons Land Corporation officially started its P5 billion integrated development at the 4.6-hectare property at the north reclamation area.
The company held its ceremonial ground breaking event yesterday attended by RLB president Frederick Go and other company officials.
"RLC is ramping up investments in Cebu, which is experiencing robust economic growth, a vibrant retail industry and a booming tourism sector" Go said.
The seven-story commercial building is slated to be finished by 2014.
The building, of which four-story will be occupied by the shopping mall operation will have a gross floor area of about 156,000 square-meters.
Robinsons Galleria Cebu will be a mixed-used development which will include the first Cebu branch of Gohotel.ph, as well as office spaces for business process outsourcing firms.
The hotel will have 153 rooms, the BPO offices will occupy three floors with over 9,000 square meters of leasable space, which the mall will have a gross leasable area of 5,000 square meters spread on four levels.
Robinsons Galleria Cebu's anchor tenants will include Robinsons Department Store, Robinsons Supermarket, True Value, Robinsons Appliances, Suizen, and Toys R' Us.
It will also have six cinemas, including two 3D theaters, with a total capacity of 8,800. The mall will have about 300 tenants offering international brands and popular local brands. Tenants will also include homegrown Cebuano retail shops, restaurants, amusement centers and new entertainment attractions.
The Robinsons Galleria Cebu opening on 2014  will come after RLC opens five Robinsons Place malls in Butuan, Roxas City, Malabon and Santiago, Isabela.
Go said the master plan for the General Maxilom property also includes the construction of high rise residential condominium units which will be benefit from the proximity of the mall and BPO offices.
Robinsons Galleria Cebu will be RLC's third mall in Cebu, which is mixed use mall and office development in the Fuente Osmeña area.  (FREEMAN)

CV is second fastest growing region in Phl

By Grace Melanie I. Lacamiento (The Freeman) Updated July 28, 2012 12:00 AM

 CEBU, Philippines - Central Visayas ranked second to Caraga Administrative Region as both had been included in the top five list of fastest growing regions in the Philippines for year 2011 based on the recent statistical data of the National Statistical Coordination Board.
In a press statement posted on the agency’s website last July 26, Region 7 posted a 7.9% growth among the country’s seventeen regions following Caraga’s economy that recorded the fastest growth at 9.6 percent last year.
“This is a very good development for Central Visayas. Our Gross Regional Domestic Product level has reached P620 billion at current prices, the fourth biggest after National Capital Region, CALABARZON and Central Luzon,” National Economic Development Authority Assistant Regional Director Efren Carreon told The Freeman.
Aside from Region XIII and Region VII, other areas which were included in the 2011 list of top five fastest growing were Central Luzon with 7.5%, Western Visayas with 5.5% and Cagayan Valley with 5.4%. The economy of the Autonomous Region in Muslim Mindanao (ARMM), however, declined by 1% in 2011 from a 2.3% growth in 2010.
On the other hand, the national statistical agency cited that the economies of the three island groups reported slower growths last year from their strong performances in 2010.
“Luzon’s economy (excluding NCR) slowed down to 3.9% in 2011 from a robust performance of 8.9% in 2010; Visayas decelerated to 5.9% from 7.3% and Mindanao’s economy turned in a lackluster performance of 3.2% from 4.7%,” NSCB stated.
With the same share compared to the previous year, Luzon island with seven regions excluding NCR contributed 37.5% of the country’s total domestic output that is considered to be the largest among the island groups. Mindanao island which is comprised of six regions accounted for 14.1% of the country’s economy and Visayas island group, composed of three regions, posted a share of 12.8% in 2011 which is 0.3 percentage point higher than its 12.5% share in 2010.
In terms of the 3.9% national GDP growth in 2011, NCR also contributed at 1.3 percentage points considered as the largest, Central Luzon with 0.7 percentage point and Central Visayas and CALABARZON which contributed 0.5 percentage point each.
NSCB was created under Executive Order No. 121 issued on January 30, 1987 as the policy-making and coordinating agency on statistical matters in the Philippines.
It further aims to develop an orderly Philippine Statistical System capable of providing time, accurate, relevant, and useful data for the government and the public for planning and decision-making.  (FREEMAN)

Megaworld aims to finish Mactan project in 5 years

By Ehda M. Dagooc, Staff Member (The Freeman) Updated June 20, 2012 12:00 AM Comments (0)

CEBU, Philippines - The country’s largest township developer, Megaworld Inc., targets to complete its P10 billion project in Mactan Island called “The Mactan Newtown” in the next five years.
The development, which is likened to Manila’s Eastwood City in Libis, is a 16-hectare development that will host several residential, commercial, retail, wellness, hotel, food, entertainment and leisure facilities, and is expected to be the next destination to watch for in Cebu, said Megaworld Corporation first vice president for sales and marketing Noli D. Hernandez in a press conference held recently at the Radisson Blu Hotel.
Its first cluster of towers, which are currently under construction are already sold out to young Japanese retirees. It has a total of 716 condominium units.
 Meanwhile, the company is set to construct its second cluster called “The Newtown Boulevard” which consists of four towers, the two towers are already contracted by another group of Japanese buyers, while the other tower will be offered to the local market. One tower of the second cluster will be built for the growing demand from the Business Process Outsourcing (BPO) tenants.
Hernandez said in the next five years, the Mactan Newtown will be able to help in improving the local economy by building enough space to be able to accommodate 25,000 office and BPO seats. This is estimated to generate around 40,000 jobs.
Megaworld Corporation bought the 17-hectare property in Mactan in 1997. The company started to develop the property only recently, as the company sees the right timing while demand is considerably improving.
In November, the Lapu-Lapu City Government signed a memorandum of agreement with Megaworld Corp. for the joint venture project.
The firm is also getting accreditation from the Philippine Economic Zone Authority (Peza) to have the project declared an economic zone.
The One World Center, a five-level office building designed to serve the needs of top firms in the BPO and IT industries.
Some potential locators include Quantum Leap, Accenture, Hewlett Packard, Dell and IBM.
Megaworld Corp. is the developer of the 18-hectare Eastwood City, the firm’s pioneering “live-work-play township.”
The company is also forging a partnership with the Cebu Doctors Group, to establish a Wellness Center or Therapeutic Center to complete its “live, work and play” concept of the township development.
If Cebu has destinations like downtown, uptown districts, in the next few years, Cebu will have a third district destination—“The Mactan Newtown.”
This new development is adjacent to Shangri-La Mactan and Portofino along the Hilutungan Channel near Magellan Bay, making the beach resort lifestyle even more accessible.
This year, the company allocates P25 billion capital expenditure (capex) to complete the ongoing projects as well as develop new ones.
Megaworld is currently developing over 40 residential and BPO office projects in Metro Manila alone.
Last year, Megaworld posted a net income of P8.15 billion up 60 percent from a year earlier on strong real estate sales, higher income leasing incThailand, Malaysia, Indonesia and Vietnam.
Founded in 1908, it currently has 16 production facilities and 43 sales companies operating in 44 countries in different regions. — (FREEMAN)

Megaworld attracts big retiree market

8 Newtown Blvd in Cebu

December 22, 2011, 1:02am

MANILA, Philippines — After successfully opening the market for residential condominiums to mid-income families and launching the business process outsourcing (BPO) office space segment in the industry, Megaworld Corporation blazes on another new trail, as it has started to capture a chunk of the huge market for retirees.
With the soft launch of its 8 Newtown Blvd development in its 16-hectare The Mactan Newtown project in Cebu, “Megaworld hopes to attract foreign retirees and Filipinos who have spent decades working abroad to consider staying in the Philippines for their golden years. With the sensible design of our units and amenities that carefully take into consideration the needs of retirees, the company has come up with the benchmark for retirement communities in the country, after which all future developments will be compared,” said VP for marketing and project head Clifford Legaspi.
Modern and minimalist are what best describe the architectural aesthetic of the project and its overall feel. The four 15-story buildings sport clean lines and a white façade. The four-floor podium level will host commercial spaces on the ground floor and BPO offices, while residential units will start on the fifth floor to the 15th level.
Retirees can choose between executive studio units at approximately 40 sqm and one-bedroom units at about 50 sqm.
All units come with balconies so that residents can enjoy the fresh sea breeze. Units can also be combined to two or three bedrooms for bigger living spaces.
All units will be delivered pre-furnished with premium items such as LCD TV, split-type air conditioning, dining set and bed frame with mattress “to make it extremely convenient for our foreign and Filipino retirees to move in and feel at home in the Philippines,” according to Legaspi.
Once they move in, residents will enjoy spending quality time at the fifth-level play deck. Watch the sun rise while swimming at the horizon-edge pool. Have a hot bath at the onsen room. Exercise their green thumbs at the Japanese garden. Meditate at the rock garden. Share stories at the tea room and do their flower arrangements at the ikebana room.
And since this is a top retirement community, 8 Newtown Blvd will also host a Wellness Center that will address the residents’ medical and health requirements.
The location of the project in The Mactan Newtown gives residents easy access to the beach, as the development is just beside Shangri-La Mactan and adjacent to Portofino Beach Resort. The Mactan International Airport is also just 10 minutes away, where they can catch flights to Hong Kong, Macau, Osaka or even Dubai.
Other landmarks that are nearby, on the main Cebu island, that may be of interest to retirees are commercial establishments at Ayala Center and golf courses including Cebu Country Club and Alta Vista.
“The new project offers everything that a retiree considers in a future home,” according to Legaspi.
He also announced that Megaworld recently inked a partnership with the Philippine Retirement Authority to facilitate Special Resident Retiree’s Visa (SSRV) applications of qualified foreign clients through their investment at 8 Newtown Blvd.

Lapu, Megaworld sign deal

Friday, November 11, 2011
THE Lapu-Lapu City Government, through a joint venture with a real estate giant, plans to put up the city’s answer to Cebu City’s Asiatown IT Park.
Lapu-Lapu City Mayor Paz Radaza announced in a press conference yesterday that the City Government and Megaworld Corp. plan to construct the Mactan Town Center in Barangay Mactan.

Megaworld Corp. signed a memorandum of agreement with the City yesterday morning. The holding firm’s projects include mixed-use communities and office spaces for business process outsourcing (BPO) companies. A source privy to the Mactan project said the
development cost is projected to reach P2.5 billion.
Jericho Go, Megaworld first vice-president, told reporters the 16.8-hectare Mactan Town Center will be different from its counterpart in Cebu City, as it will not only cater to industrial and BPO companies, but also to commercial, leisure and even retirement services.
The town center will be overlooking the coast, Go said.
“All the successful ingredients to launch our project are in Lapu-Lapu City,” he said.
Go said they are also seeking accreditation with the Philippine Economic Zone Authority (PEZA) in order to declare their project as an economic zone.
Once the project starts operation, about 2,500 jobs will be created, particularly for those living in Lapu-Lapu City, Go said.
For now, some potential locators include Quantum Leap, Accenture, Hewlett Packard, Dell and IBM.
Go said they will develop the property in such a way that expansion will be easily facilitated.
As of now, a building is being constructed, and utilities like water, electricity and drainage are already in place, he said.
To meet electricity needs in the surrounding areas, Go said they have given a commitment to the Mactan Electric Company (Meco) to allow them to construct a power station within their project area.
The Metropolitan Cebu Water District (MCWD) has also committed to provide water supply in the project area and to provide a water truck in the event that a shortage occurs.
Radaza, for her part, said the project will be beneficial to the city government as it will not only create more jobs for her constituents but will also generate revenues for the City.

Published in the Sun.Star Cebu newspaper on November 12, 2011.

Gokongweis launch Galleria

 

Thursday, July 26, 2012
GOKONGWEI-led Robinsons Land Corp. (RLC) is spending over P5 billion for the construction of Robinsons Galleria Cebu, a mixed-use integrated complex that is soon to rise in a 4.6-hectare property along General Maxilom Ext.
According to RLC president Frederick Go, they are “ramping up” investments in Cebu because of its robust economic growth as shown by its vibrant retail and tourism sectors.

“There are still a lot opportunities that can be found here,” Go said during the groundbreaking ceremony of the Robinsons Galleria Cebu yesterday.
Robinsons Galleria is the company’s 38th mall and biggest outside Metro Manila. It is a seven-storey commercial building that will have a gross floor area of about 156,000 square meters (sq. m.).
It will house RLC’s first Cebu branch of Go Hotel, shopping mall, and office spaces for the business process outsourcing (BPO) firms.
Condominiums, too
In addition, Go announced the second phase of the development is the construction of four high-rise residential condominiums at the back of the commercial building.
The Robinsons Galleria Cebu will have a 153-room Go hotel. The BPO offices, meanwhile, will occupy three floors with over 9,000 sq. m. of leasable space and the four-storey shopping mall will have a gross leasable area of 56,000 sq. m.
The mall will house 300 tenants offering a mix of international, local and homegrown brands.
Its anchor tenants will include Robinsons Department Store, Robinsons Supermarket, True Value, Robinsons Appliances, Saizen, and Toys R’ Us. The mall will also have six cinemas, including two 3D theaters with a total seating capacity of 1,800.
Target: 2014
Go said the mall is expected to be completed by 2014. The first tower of the residential condominium is targeted to be launched next year.
Robinsons Galleria Cebu is RLC’s third mall in Cebu after Robinsons Place Fuente and Robinsons Cybergate Cebu.
The firm’s other ongoing projects include the upscale Amisa residential development in Mactan; Azalea Residences, a residential development on Gorordo Ave.; and Blue Coast and Aspen Heights, which are under Robinsons Communities and Robinsons Home brands, respectively.
Next year, the company is set to open five more Robinsons Place malls in Butuan, Roxas City, Malolos, Malabon and Santiago, Isabela.
RLC’s net income for the first quarter of its fiscal year 2012 rose by 13 percent to P1.15 billion. The company’s shopping malls alone generated P1.8 billion in the first quarter. RLC’s first quarter fiscal year 2012 covers October to December 2011, for more information of Robninsons Land Projects, contact 09173236123.

Published in the Sun.Star Cebu newspaper on July 27, 2012.

Newtown qualifies for Peza incentives

By Katlene O. Cacho

Friday, July 27, 2012
MEGAWORLD Corp.’s, biggest project in Cebu so far, The Mactan Newtown, is now a special economic zone registered under the Philippine Economic Zone Authority (Peza).
In a press statement, Megaworld said the 16-hectare township development will enjoy privileges granted by the national government under Republic Act 7916, the Special Economic Zone Act of 1995.

These include special tax incentives and holidays to business establishments and permanent resident status for foreigners who have a certain amount of investments in the eco-zone.
Megaworld said the government’s declaration of The Mactan Newtown as a special economic zone highlights “the development’s use for tourism, information technology and retirement.”
The P10-billion project will house residential condominium buildings, business process outsourcing (BPO) buildings, retail and entertainment strips, and an upscale boutique hotel. This is the company’s first development in Metro Cebu that is expected to boost the economic landscape of Mactan.
“Megaworld sees the opportunities of growth of the BPO industry in Cebu. With this, we expect new BPO companies coming in as we offer the most modern BPO offices in this side of the country,” says Jericho Go, first vice-president, Business Development and Leasing Division, Megaworld Corp.
The company has completed construction of the five-storey One World Center, which will offer upper floors for office spaces and the ground floor for retail shops. The company is working on another BPO-ready building, Two World Center, and 8 Newtown Boulevard, a residential condominium that will also allocate three floors of office spaces.
Megaworld Corp. was named the country’s top residential condominium developer, cornering a 16 percent share of the property market in a study by CB Richard Ellis. A study conducted by Colliers International, meanwhile, recognized the company as the top provider of BPO offices in the last 10 years. For Project inquiry, contact us at 0917.3236123.

Published in the Sun.Star Cebu newspaper on July 28, 2012.

Rivalry in Cebu property market heats up

Thursday, 26 July 2012 19:41 Miguel R. Camus / Reporter

THE Gokongwei family’s property arm is turning its attention back to Cebu City, where the clan’s business empire traces its roots, amid tougher competition from rival business families like Henry Sy’s SM Group, which is also aggressively expanding in that city.

Robinsons Land Corp. (RLC) said it started work on Robinsons Galleria Cebu, a seven-story mixed-use building in the North Reclamation area, which it claims is its largest commercial development outside Metro Manila.

Analysts said the move underscores Cebu’s growing importance as a tourism and outsourcing destination—a fact not lost on the country’s top builders seeking to take a bigger slice of the province’s booming growth. 

The island has recently diversified its economy to become a business process outsourcing (BPO) hub “second only to Metro Manila”with tax incentives and advanced telecommunications facilities helping to lure investments, said Claro Cordero Jr., head of research and valuation for Jones Lang LaSalle Leechiu, a property consultancy and brokerage firm.  

“This phenomenon has helped improve the general purchasing power of [Cebu’s ] local economy,” Cordero said in an emailed response on Thursday. “The general outlook is that the O&O [off-shoring and outsourcing ] companies are still likely to operate and expand in Cebu in the medium- to long-term.” 

Robinsons Galleria Cebu will include a 56,000 square meter (sqm) shopping mall, a 153-room gohotel.ph budget hotel, and business process outsourcing offices.  Slated for completion by 2014, it will have a gross floor area (GFA) of 156,000 sqm, but the master plan for the 4.6-hectare lot also includes residential condominiums, RLC president Frederick Go said in the statement.

The new project comes as RLC’s  closest competitors are building even larger shopping facilities. Sy-led SM Prime Holdings Inc. opened last month its second shopping mall in Cebu, called SM City Consolacion, with a GFA of  106,857 sqm. 

In 2014, its opens SM Seaside City Cebu, its biggest shopping center there, with a GFA of 241,600 sqm. SM Prime is also reportedly in talks to acquire a fourth site in Cebu.

Apart from the Sys, Gotianun-led Filinvest Land Inc., which is already developing residential condominiums in Cebu, said it will build a business process outsourcing complex in the reclaimed South Road Properties area.  Ayala Land Inc. also operates a shopping center in Cebu apart from residential projects. 

Cordero said the growing trend of property developers expanding in Cebu is unlikely to see a reversal anytime soon.

“Coming from a low base in terms of high-rise residential projects of highly dense projects, the highly improving purchasing power of the consumers is seen to sustain these developments and saturation of the market is still far from the horizon,” Cordero said. 

The integrated approach of these builders, he said, attracts both end-users and investors, but not without opening up its own set of risks. “This type of demand [buying for investment purposes] is highly-susceptible to market externalities such as the weak global economic recovery,” he said.

Yield of seven-year T-bonds slightly down

Tuesday, 17 July 2012 19:44 VG Cabuag / Reporter

YIELD of the seven-year Treasury bonds slightly went down during Tuesday’s auction as a result of investors’ huge interest to snatch government debt.

The fresh offering seven-year paper fetched a coupon rate of 4.75 percent, or 25 basis points lower than the 5 percent rate when the last time the said paper was auctioned off on April 24.

Tenders reached P20.95 billion, or more than two times oversubscribed compared with the government’s offer of P9 billion. The auction committee made a full award.

Finance Undersecretary Gil Beltran, who chaired the auction, said investors were elated with the string of good news in the economic and fiscal front.

“Our finances are so stable. Our deficit is lower than programmed and the debt ratio is going down. Our economy is going up, while inflation is going down plus we got an upgrade,” Beltran said after the auction.

“Those positive factors contributed to very stable interest rates,” he said.

The awarded rate was also 2.5 basis points lower than the secondary market rate of the same tenor of 4.724 percent.

The government earlier said it posted a budget deficit of P22.78 billion for the first five months of the year, far lower than the P82.7-billion deficit program for the said period.

Meanwhile, the Philippine economy as measured by the gross domestic product (GDP) grew by 6.4 percent in the first quarter of the year while the inflation rate in June eased to 2.8 percent from 2.9 percent in May.

Also, Standard and Poor’s Ratings Agency raised the country’s credit rating early this month to a notch below investment grade.

Beltran, however, said that the underspending problem of the government agencies still persists.

“If you look at the figures, without looking at the targets, it looks fine because your spending is 13 percent increase, that’s a good performance,” he said. “But we’re still below the spending program. I hope we can implement the (infrastructure) projects so we can use the money. The government has so much cash.”

According to the Department of Budget and Management (DBM), the government spent P668.4 billion during January to May, or 13 percent higher than the P591 billion expenditures for the same period last year. The target expenditures for the first half, however, was placed at P885.28 billion.

Refinement redefined at Park Point Cebu

Tuesday, 17 July 2012 19:03 Blake Cassey Blumenthal

LIVE, work and play are Ayala’s main motivations for the new residential building Park Point Cebu. Ayala Land Inc. (Ali), through its signature brand Ayala Land Premier (ALP), will be launching a new tower in the center of the thriving city of Cebu.

Business hubs across the globe will no longer be solidified into one area as Ayala bridges the gap by creating multi-use hubs for working and living combining clusters of leisure and residential developments.

The Cebu Park District will mirror that of Bonifacio High Street as well as Makati as Cebu grows into an industrial and much sought-after living destination. “Five to ten years ago, high end property developers like Ayala thought that Cebu wasn’t ready. (Today,) Cebu has changed dramatically to an economic and prosperous district that is now ready to carry the brand that Ayala offers,” said Jose Juan Jugo, head of Ayala Land Premier. “We needed to catch up with Cebu because she was running to fast,” he added.

Ali and Cebu Holdings Inc. (CHI) continue to have a major redevelopment project that involves the twinning of its existing business squares—Cebu I.T. Park and Cebu Business Park. Through this, they hope to solidify the character of the city as a burgeoning global hub for business, pleasure, leisure and living.

Ali and CHI will be investing a total of P12.5 billion in the development of Cebu Park District which includes the revitalization of Cebu Park District’s overall master plan. Cebu Park District will create a destination that allows urbanites to enjoy a space that flourishes and espouses both convince and recreation. As well as the comfort of knowing all of your wants and desires are an elevator ride away.

“We want the residences to have access to the supermarkets at the mall and be able to take the elevator when they please (in order) to pick up olive oil to finish cooking. We want to give them accessibility and luxury,” said Jugo.

“This distinctive lifestyle destination is regionally recognized for housing different premier shopping and dining options to serve the gustatory desires of both locals and tourists. Given its function, it basically completes and balances the urban experience in Cebu’s urban hub,” shared Antonino Aquino, president of Ayala Land and chairman of Cebu Holdings, Inc. “However, the expansion that involves investment share of Ayala Land Premier, will broaden the basic intent of its master plan.”

The 38-storey residential tower is the first of its kind in ALP’s residential portfolio in the region. ALP will be introducing a new living concept that will mark the beginning of sophisticatedly modern and integrated living within the premier shopping, dining and entertainment destination itself. Ali through ALP expands its footprint in the Cebu region broadening the spectrum of Cebu Park District which will be at the center of the thriving city complex.

“Given its location, future residents will experience sophistication and convenience at the same time, as Park Point Residences will offer private access to the soon-to-rise destinations in Ayala Center Cebu. While the idea of living a sophisticated lifestyle is not new to Cebuanos, the newest residential development will further the experience through replicating globally designed lifestyles In major cities worldwide, as Park Point Residences will be set right at the heart of an exciting urban enclave,” shared Jugo.

Each unit will be furnished to offer soothing and refreshing spaces above the din of bustling metropolis. With a total of 255, which consist of one- to three-bedroom units the iconic residential tower will offer a vast view of Cebu’s vibrant cityscape which is at the center of everything.

“Most of the thriving cities across the globe demonstrate of envision offering a lifestyle that is defined by expediency and refinement, coupled with options that allow urbanites to breathe and relax despite the fast-paced setting. That is basically what the expansion of Ayala Center Cebu and the rise of Park Point Residences will replicate in the coming years—a pensively master-planned urban center and residential enclave that will reinforce the innate sophistication and urban convenience of Cebu,” Jugo intimated. And for more inquiry contact +63917.3236123.

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In Photo: Architect ’s perspective of Park Point Residences. (Ayala Land Inc.)

Grand Towers offers the best living space for families

Tuesday, 17 July 2012 19:05

HIGH-RISE development has evolved from being an immediate solution to counter city traffic and the hassles that go with it, to a viable option for a sustainable family home in the city and a prime investment.  At the forefront of this evolution is Moldex Realty Inc.

Since its launch, The Grand Towers Manila easily became one of Manila’s more recognizable skyline staples. This highly coveted residence has been home to many young professionals, entrepreneurs, students and families.

Strategically located along Pablo Ocampo Sr. Street (formerly Vito Cruz), The Grand Towers’ close proximity to educational, commercial, retail, cultural, recreational and dining establishments has strengthened its stance as the premier hub of modern living where there are no gaps between where you live, work and play.

Condo living has now become the most popular and convenient housing option, notably for families.  “It has now become a regular phenomenon coupled with a lot of wonderful benefits—practicality, luxury, satisfaction, convenience.  For a dwelling place, it’s complete. Condo living is not only a matter of personal choice, it should be perceived as a lifetime achievement and reward for success,” stated Thelda Cayetano, VP for vertical sales of Moldex Realty Marketing Inc., the marketing arm of Moldex Realty Inc.

With its two-bedroom units now ready for occupancy, The Grand Towers’ doors are ready to welcome you to experience the wonderful view of the city. Cayetano cites, “It is spacious, has high ceilings and well-crafted layouts to enable the unit owner to put in some smart configuration of his own design to transform it into a more luxurious living space.”

“Your loved ones will experience the fruit of your accomplishment,” according to Cayetano.  “With the two-bedroom units now move-in ready, residents are assured of a living space that is not cramped. Most real-estate developers have learned to profit with smaller spaces. Condominiums these days have gotten smaller and smaller—not with The Grand Towers Manila.” 

Moldex Realty Inc. understands the need for solace after a hard day’s work, and at the same time, avenues where families can bond and spend quality time with each other.  Not only is The Grand Towers Manila a viable home in the city but an excellent choice for the whole family.

Owning a two-bedroom unit at The Grand Towers comes with its perks.  This building is designed with a modern lifestyle in mind with the benefits of community living as evident in its wide array of amenities conveniently laid out in a 3,000-sq-m grand podium deck.  What sets it apart from the multitude of city-based condominiums is its family-friendly appeal.  Only at The Grand Towers can families get to enjoy the lap and kiddie pools, outdoor shower areas, kid’s outdoor play area and sandbox, gazebo, and a Wi-Fi-enabled study area, tangible proofs that city living need not limit a kid’s childhood.

For the more active residents, there is also a well-equipped gym and fitness center, a jogging path, an outdoor swimming pool, and a jacuzzi. Function rooms and a social hall are also available for events.

“The Grand Towers is definitely a good find. It is an excellent investment,” said Cayetano.  “When you purchase a condominium unit at The Grand Towers, there’s a guarantee of quality and you know that you will enjoy living here.  Factors that buyers must consider when purchasing a condominium unit, such as convenience, security and comfort—they’re all here.”

Likewise, she says that condominiums nowadays have become a niche business opportunity for people to invest, and while The Grand Towers offers ultimate living and pleasure, it has also started to serve as a source of lucrative income.  Since its launch, The Grand Towers’ unit owners were given profit opportunities to tap the rental market in the university area.  With its two-bedroom units now available and ready for occupancy, prospective owners can earn more. “Reselling and rental opportunities are giving our unit owners the chance to generate cash flow to pay their amortization. This is just a manifestation of its investment potential,” noted Cayetano.

Being one of the leading Real Estate Developers in the country, as manifested in its portfolio of over 30 strategically located and quality projects from Heritage Residences to Metrogate Communities to Golden Empire Tower, The Grand Towers Manila serves as a testament to Moldex Realty Inc.’s vision to meet and exceed the customer’s expectation, and its commitment to continuous excellence through first-rate property management and service.

www.moldex.com.ph/realty

Phl targets $8 billion for geothermal projects

By Neil Jerome C. Morales (The Philippine Star) Updated July 19, 2012 12:00 AM Comments (0)

MANILA, Philippines - The Philippines targets an additional 1,500-2,000 megawatts (MW) of generation capacity from geothermal projects worth as much as $8 billion, making the country the top geothermal producer in the world in two decades.
New Zealand geothermal industry leaders, in a forum yesterday, said they are ready to share their technologies and expertise to local firms.
“Certainly our target is to be the number one producer. With that additional capacity we are looking at, we hope we can surpass the US in terms of geothermal production,” said Energy Undersecretary Jose Layug Jr.
Energy Secretary Jose Rene Almendras and Layug said the Philippines aims to increase its geothermal capacity by 1,500-2,000 MW in 2020-2030.
To date, installed geothermal production capacity in the country is 1,972 MW, the second highest in the world next to the US.
“In terms of potential, there is still that additional capacity that we can tap into,” Layug said.
“It is a matter of making sure that these projects will be developed more cost efficiently because they are smaller in scale and therefore we anticipate the higher cost,” Layug said.
Benchmark investment for geothermal projects is $2 million to $4 million for every MW, said Mike Allen, steering committee chair of industry group Geothermal New Zealand. Hence, an additional 1,500-2,000 MW capacity will require $3-8 billion.
The Philippine government wants to work with New Zealand, which is an expert in geothermal energy.
“We will work with them for the resource assessment with existing geothermal resources,” Layug said.
“New Zealand [firms] have expressed interest in the Philippines. We have come into agreements on how we will encourage private sectors from both sides to come and do this together,” Almendras said.
Almendras added that New Zealand-based companies can apply for a service contract while technology suppliers and experts can work with local firms.
Specifically, firms from New Zealand can assist in training and retrofitting existing geothermal power plants.
Allen said firms in New Zealand can also bring to the Philippines technologies for small scale geothermal power production like 10-15 MW.
The companies can also help in locating and assessing resources, hence decreasing project risks, Allen said.
To date, New Zealand has an installed generation capacity of 750 MW from geothermal projects, which is expected to rise to 1,000 MW next year. It has a long-term geothermal potential os 3,000-4,000 MW, Allen said.

Ayala Land launches Park Point Residences

(The Freeman) Updated July 18, 2012 12:00 AM Comments (0)

CEBU, Philippines - Ayala Land Premier (ALP), the high-end brand of Ayala Land Inc. works in tandem with Cebu Holdings Inc. (CHI) for the 38-storey Park Point Residences that will rise on top of Ayala Center Cebu’s soon-to-be-developed wing, which will house a new Rustan’s department store and the expanded Rustan’s Supermarket.The newest addition to ALP’s collection of high-end residences, Park Point Residences is the first of a series of residential towers thoughtfully integrated into the Ayala Center Cebu (ACC) redevelopment. This distinctive landmark redefines the skyline of Cebu’s premier district for business, leisure and living – Cebu Park District (CPD).
Cebu Park District residents enjoy effortless living offered by Park Point Residences’ exclusive direct address to Ayala Center Cebu, which is currently evolving into an integrated mixed-use development and will be offering a wide variety of retail and dining outlets, as well as entertainment and business facilities.
Developed in the tradition of Makati’s The Residences at Greenbelt (TRAG) and Park Terraces (PT), Park Point Residences capitalizes on its high value appreciation potential and the convenience of being right at the heart of Cebu Park District.
“Given its location, future residents will experience sophistication and convenience at the same time, as Park Point Residences will offer private access to the soon-to-rise destinations in Ayala Center Cebu. While the idea of living a sophisticated lifestyle is not new to Cebuanos, the newest residential development will further the experience through replicating globally designed lifestyles in major cities worldwide, as Park Point Residences will be set right at the heart of an exciting urban enclave,” says Jose Juan Jugo, head of Ayala Land Premier.
Park Point Residences caters to affluent buyers who fully appreciate the value of a personal refuge within a dynamic city life. Their mobile lifestyle warrants the need to be close to life’s essentials, a sense of security and a lock-up-and-go convenience. They are citizens of the world, well-traveled, well-read, with discerning and refined tastes. They are exposed, socially responsible, and passionate about their diverse social, political, economic and environmental endeavors. They are accomplished individuals in their chosen fields, possibly belonging to the similarly accomplished families. They are accustomed to a life of luxury and appreciate having lifestyle options that nurture privacy, as well as those enriching social interaction.
Park Point Residences (PPR) is the second pioneering living concept introduced by ALP in Cebu after it launched the 1016 Residences in 2010. The said residential tower, which is set to be turned over third quarter of 2014, aims to bring a country-club living expereince to its future residents, as it will offer direct access to City Sports Club Cebu. For more information on Park Point Residences, contact +639173236123.  (FREEMAN)

Robinsons Galleria Cebu set to break ground on July 25

By Ehda M. Dagooc (The Freeman) Updated July 19, 2012 12:00 AM 

CEBU, Philippines - Gokongwei-led Robinsons Land Corporation (RLC) is going to start the construction of its second shopping mall project in Cebu called the “Robinsons Galleria-Cebu,” located at the General Maxilom Street at the North Reclamation Area (NRA).The ground breaking ceremony, which will formally start the project, will be on July 25, 2012.
Recognizing Cebu’s fast growing economy and booming retail industry, the company is pouring in a significant investment to the province aside from its aggressive movement in the real estate industry through Robinsons Land Inc. (RLI).
In an earlier interview, RLI president and chief executive officer (CEO) Frederick D. Go said that aside from the establishment of the “Robinsons Galleria-Cebu,” the company plans to develop a mixed-used development at the five-hectare property at the NRA, that will include building of a hotel, commercial complex and high-rise condominiums.
Go said the company will first build the shopping mall component, after which will be introducing the Go Hotel brand to Cebu through the construction of a 150-200 room hotel.
The Go Hotel brand is deemed as an essential service hotel of the Gokongwei Group.
In the next couple of years, RLI will have three hotels in Cebu, including the one it will build at its AmiSa development on Mactan Island.
Go said the hotel component at AmiSa will carry the brand Summit Shores Resort, an upscale resort component of the residential beachfront project Amisa.
The construction of the Summit Shores Resort on Mactan will also start this year, Go said.
The company recently renamed its first hotel facility in Cebu, the Cebu Midtown Hotel, into Summit Circle Hotel.
This move, he said is in line with the company’s thrust to boost its tourism-related projects in the country.         
Already, RLI has maintained three hotel brands in the country, including Summit Ridge Hotel in Tagaytay, Go Hotel, and its existing partnership with international chain such as Crown Plaza, among others.
RLC is one of the few well-known developers which have invested multi-million pesos or billion pesos to further develop some idle areas in Mactan Island.
Today, RLC is among the most profitable business of JG Summit Holdings Inc., with its 18 malls, 23 residential subdivisions, 22 residential condominiums, six office buildings and three hotels.
In Cebu, the Gokongwei Group operates the Robinsons shopping mall in Fuente Osmeña, Summit Circle Hotel, and the Blue Coast subdivision in Mactan, and its newest sea-side residential project in Mactan Island called AmiSa. For more information about RLC Cebu Project, contact +639173236123.  (FREEMAN)

South Road Properties Council bans sale and negotiations

By Rene U. Borromeo (The Freeman) Updated July 19, 2012 12:00 AM

CEBU, Philippines - Selling or negotiating for the sale of lots at the South Road Properties (SRP) is now prohibited via a city ordinance.
This as the Cebu City Council approved yesterday an ordinance prohibiting anyone — including the mayor — from selling or even negotiating for the sale of lots at the SRP without prior approval from the legislative body.
Councilor Noel Eleuterio Wenceslao, a member of the Bando Osmeña Pundok Kauswagan (BOPK), is the author of the ordinance.
Wenceslao explained that since the ordinance does not prescribe fines or penalties, there is no need for it to be submitted to a public hearing.

Mayor to veto

Rama, in a separate interview, said he will not approve the ordinance because it is already a redundant to the provision of the Local Government Code, which provides that no contracts may be entered into by the local chief executives on behalf of the local government units without prior authorization from the Sanggunian or the council.
Wenceslao explained that his ordinance is not a duplication of what is provided for in Republic Act 7160, because this also prohibits even the mere negotiation for the sale of the SRP lots.
Rama earlier suggested that the city sell at least 10 parcels of SRP lots, which could earn it P1 billion.

‘At the right time’

According to Wenceslao the city will dispose the SRP lots only when the development projects undertaken by the Filinvest Land Incorporated (FLI) and SM Prime Holdings Corporation will be completed because such will help the prices of the land to appreciate.
Aside from the two major investors, the City of Cebu, during the term of then mayor and now Cebu City South District Rep. Tomas R. Osmeña, also entered a 25-year lease contract with Bigfoot Entertainment, for a movie production facility.
Osmeña said if the city will sell the SRP lots now, there might be so many buyers, but they may not use the properties immediately as what happened to the lots in North Reclamation Area.
He explained that the buyers today would be mostly speculators, who would just wait for the prices of the property to appreciate before also disposing them.

Income from SRP

Wenceslao said the city has already generated income out of the installment payments and lease of SRP lots and expects that the revenue will continue to for as long as the City of Cebu protects its investments in the SRP.
Aside from the 40-hectare property that is under a joint venture contract between the city and Filinvest Land Inc., the city also sold 10.6 hectares to FLI at P1.5 billion.
In that joint-venture contract, the city will get a 10 percent share out of the total gross revenue of all infrastructure projects to be undertaken inside the 40-hectare property.
The city also receives quarterly installment payment from SM Prime Holdings Corporation for the 34 hectares that the mall giant bought for P2.7 billion.
If the mayor will make true his pronouncement not to sign the ordinance, the law provides that the city council has the power to override his veto power by at least two-third votes of its members.
Unlike during the administration of Osmeña that the draft agreement of the sale of SRP lots was just ratified by the city council, this time even the negotiation for the sale of lots needs prior approval from the legislative body.
“For the avoidance of doubt, prior authorization and not mere ratification from the city council is a condition for the validity and legality of transactions involving the conveyance in one form or another of properties in the South Road Properties,” said Wenceslao.
But he explained that while the city council approved the ordinance, the city is still open to receiving, studying and evaluating unsolicited proposals for undertakings within and the development of SRP, subject to the approval of the council and the mayor.

— /NLQ (FREEMAN)

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communities where lives can find pleasure and fulfillment.

 

 

            

 

 

Team Century rose from a time when any ordinary day held the promise of history. Defined by such, we aspire to become the Brand of Choice
 for residential, business, and leisure spaces.Through brand relationships, design ethos, location ideals and value sensibilities,
we intend to elevate the experience for each and every one of our clients.
Join us as we deliver on these Great Expectations.

 

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Residential developer says there is still unserved demand

By Katlene O. Cacho

Wednesday, July 18, 2012
A LOCAL residential developer is confident it could still grab a good market share despite the entry of national players building homes for the growing Cebuano market.
Prime Homes Development Corp. admin and office head Harold See said there is still a “huge” unserved demand for housing in Cebu.

See identified the booming industries of tourism and business process outsourcing (BPO) as well as continued inflow of remittances as among the factors that contributed to the growing demand in the housing sector.
See said they are building a residential project called Virtacci, a pocket-subdivision in partnership with the Gungob Industries Inc. in Lamac, Consolacion.
See said Prime Homes took over the project that was originally developed by Gungob Industries. The company is set to build 29 units composed of 2-storey duplexes and townhouses for an estimated investment of P100 million. Gungob already built 11 house units.
Virtacci is positioned as a mid- to high-end residential development with unit prices ranging from P1.7 million to P2.4 million.
According to Prime Homes general manager Rey Aguilar, they are targeting to finish 10 house units to be completed by December. The remaining 19 house units will be completed in July 2013.
Aguilar said their latest project is ideal for start-up families, young professionals and overseas Filipino workers.
Prime Homes is a new player in Cebu’s real estate industry. The booming housing sector prompted the company to invest in low-cost horizontal projects in 2009.
The company’s flagship project is Henaville, which is composed of 300 house units with half-a-billion investment in Estaca, Compostela. Following Henaville is the Alicia project in Barangay Tamiao in Compostela, which is projected to have 700 low-cost units.
The project, however, was temporarily suspended but the company hopes to revive the operation this year. The project cost for Alicia is estimated at P700 million to P800 million. For inquiry please contact us at +639173236123.

Published in the Sun.Star Cebu newspaper on July 19, 2012.