Expansion of resorts signals return of confidence in market

By Katlene O. Cacho

ASIDE from the overseas investments, the continued expansions of local stakeholders in the tourism industry have also become engines of growth despite the slowdown of international markets, Tourism Secretary Ace Durano said Tuesday.

“The sum of the tourism traffic and the increase of tourism investments define the growth of an area as a tourism destination. Bohol perhaps, is an upcoming tourist destination with the continued growth of the investments being poured in here,” he said during the groundbreaking of the Panglao Bluewater Beach Resort in Bohol, which will be developed by Almont Hotels and Resorts Corp. (AHRC) this year.

The reinvestment and the expansion of local beach resort chains in the country, Durano said, signal confidence in the economy.

“These investments speak more of the health of the industry not only in Bohol but in the entire country,” he said.

However, support infrastructure such as roads, water supply and direct flights should be addressed so that the country can take advantage of its position as one of the premier tourist destinations in Asia.

“There is still a need to improve flights to consolidate our presence in the international market,” he said.

Durano reported that the country’s participation in the Shanghai World Expo this year, for instance, provides the Philippines with an avenue to attract more tourists to come here.

The Shanghai World Expo is touted to be the world’s largest international fair and will be in May to October this year.

The event aims to encourage a harmonious blend of diverse cultures, economic prosperity, innovation and technology, sustainable communities, and healthy interaction between urban and rural areas.

The Philippines will be among the 42 participating Asian countries.

“We will make use of this opportunity to get a good share of international visitors,” he said. Organizers of the expo targets 70 million guests from around the world.

To further attract tourists, the Department of Tourism (DOT) is tapping new markets such as Turkey, Russia and India. “We are also seeing Middle East as a strong market for us,” he said.

DOT last month conducted a tourism road show in the Middle East covering the countries of Qatar, Bahrain, Kuwait, Abu Dhabi and Dubai.

Published in the Sun.Star Cebu newspaper on April 23, 2010.

Eco-friendly condominium set to rise in Asiatown: Innoland

By Rinnah B. Flores

THE first green hybrid condominium in Cebu located across The Walk in Asiatown IT Park had its groundbreaking ceremony last Thursday.

The Calyx Center is a flagship project of Innoland Development Corp., which offers an eco-friendly environment to its residents and retailers by incorporating living with nature through the use of rainwater, wind by its open channels in the building, and land by the provision of trees and greenery in the location.

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Chief operating officer Charles Ong said: “Calyx is a part of the flower that holds the entire flower. It has a significance because our condominium is focused on green living. We want our residents and the whole community to have an improvement in the quality of life by being conscious of the environment.”

With an estimated cost of over P1 billion, Calyx Center will have 26 floors with spaces for shops and offices on the ground floor to the ninth floor. The 10th floor would house amenities for the residents, like a gym, a garden, lounge, lap and wading pool. The residential units will start on the 11th floor.

The center is designed by architectural firm Aidea Philippines and aims to become one of the landmarks of Cebu through its green design.

“We are committed to providing the market with essentials without compromising the quality, location and values that are very important for investors and buyers,” said Ong.

The center targets young entrepreneurs, young professionals and expatriates with Cebuano values. With Asiatown home to business process outsourcing firms, there is already a ready market, making the flagship project of Innoland strategically located.

The project will be launched soon. Innoland’s corporate office and showroom is on the 15th floor of TGU Tower in Asiatown.

Published in the Sun.Star Cebu newspaper on April 24, 2010.

Former DJ comes home, segues into real estate development

By Rinnah B. Flores

AFTER years abroad, Arniel Armamento returned to his native Cebu to put up his own company. His first project? A “dream community” in his own municipality, Sogod.

“Where life is so good in Sogod,” quipped Kevin Cormack, a corporate consultant of the JC Armamento Development (JCAD) Inc., during its groundbreaking ceremony last May 2.

Sicily, the first subdivision development in the northern Cebu town, is a mixture of three communities in one address. The P400-million project will be the flagship of JCAD, which officially opened last November 2009.

With its three phases—the Sogod Bay Residences, Sogod Campo Grande and Teachers’ Village—Sicily hopes to attract foreigners, overseas Filipino workers (OFWs) and local workers.

Sogod Bay Residences will consist of 15 high-end houses for affluent foreigners married to Filipinos who want to make the Philippines their second home. It is located at the beachfront.

Sogod Campo Grande, with 121 residential units, will be marketed to OFWs, while the Teachers’ Village will provide 184 affordable homes for local workers.
The subdivision draws its name from the observation that its beachfront and greenery appear similar to Italy’s Sicilain coast.

The project will start pre-selling after three to six months, Armamento said.

Before working in Dubai, Armamento was a disc jockey in Cebu, known as DJ Josh, eight years ago. When he went to Dubai, he managed to save capital, and now owns different businesses there, including The Filipino Expats Magazine.

He was on a career high when the economic downturn hit hard.

Armamento, however, said he observed during trips to Thailand, Hong Kong and other destinations that, in contrast, Filipinos continued to go to malls and restaurants, and the housing sector continued its steady gains.

“When the First World market slowed down, we looked for new emerging markets. The Southeast Asia became an enticing market and, for sure, the Philippines is in an upward trend,” said Armamento.

After convincing his business partners there’s always a good opportunity lurking around the corner, he was able to start JCAD.

Located in Labogon, Mandaue City, JCAD is in partnership with Majestic LLC Group of Dubai, which is in the hospitality and finance business and headed by its managing partner, Omar Al Mazrooqi.

JCAD’s future projects include Easterville Subdivision in Lapu-lapu City, a seaside community in Cordova and another one in Talisay.

“I represent the other OFWs who work hard abroad and come back to help their community through the skills they gained outside,” said Armamento. “My vision is for OFWs to come home and help their country through their talents. For sure, the Philippines will become better.”

Published in the Sun.Star Cebu newspaper on May 5, 2010.

Ayala to pour in P2B in Cebu

By Katlene O. Cacho

THE Ayala Group of Companies is allocating P2 billion for capital expenditures (capex) for Cebu starting this year.

The capex is meant to fund the major developments of the company in its residential, office and retail businesses in Cebu.

“The firm will redouble its efforts to take advantage of the opportunities brought by the country’s recovering economy,” said Francis Monera, president of Cebu Holding, Inc. (CHI), during the firm’s annual stockholders meeting yesterday.

CHI is a publicly listed company engaged in real property ownership, development, marketing and management. It is an affiliate company of Ayala Land Inc.

Monera said the company will launch this year three residential units, a business process outsourcing project and a mall re-development project.

He said they are finalizing plans to add leasable space with an expansion project that will complete the full circle design of Ayala Center Cebu.

The re-development, he said, will provide more leasable spaces for local and international brands to the mall’s merchandise mix.

Ayala Center Cebu generated a total revenue of P696.77 million, or 19 percent higher than it did in 2008.

Monares attributed this to higher rental rates and sales per square meter and the full operation of The Terraces.

He said the firm will also forge partnerships with other strategic business units of Ayala Land to maximize industry expertise within the group as they set up new projects and explore markets this year.

“We have started, through Cebu Property Ventures and Development Corporation (CPVDC), to partner with the Ayala Land Businesscapes to create the eBloc Tower which was fully-leased out last year. A partnership with Avida is also underway for another development of affordable residential condominiums in Asiatown I.T. Park intended to fully complement the other amenities in the park,” Monares said.

CPVDC is a subsidiary of CHI. It is the owner and developer of Asiatown IT Park.

The firm, Monares said, will also invest in two residential condominium projects within Cebu Business Park,

“One will be here at the City Sports Club Cebu. This will allow us to unlock the value of the land as well as boost the value of ownership at the club. The other residential condominium will be at the Park Tower area, an addition to the two other towers in the enclave which have already been sold out,” he said.

Each residential project will have 500 units.

The remaining undeveloped land within Asiatown I.T Park will also be developed into offices to cater to IT and IT-enabled locators.

CHI chairman Antonino Aquino said the firm will accelerate the development of the projects in line with Cebu’s growing economy, resurgence of tourism, excellent talent pool and vibrant business climate.

Last year, CHI registered a consolidated revenue of P1.29 billion and a net income after tax of P302.19 million, lower than the previous year levels.

The after tax margin was at 23 percent compared to the previous year’s 27 percent.

“However, factoring out the effect of the 1.7 hectare one–time Cebu Business Park transaction in 2008, CHI exhibits an actual growth of nine percent in revenues and 18 percent in net income,” Monares said.

Its total assets stood at P5.77 billion at yearend with a two percent increase of P114.63 million. Of the total consolidated assets, P1.84 billion is classified as current, representing an increase of 17 percent from the previous year’s level.

Published in the Sun.Star Cebu newspaper on April 30, 2010.

Capitalize on eco-tourism potential of Mactan: Pelaez

MACTAN Island has long been left behind by similarly endowed islands in neighbouring Southeast Asian countries where development is fast.

Mayoralty candidate and Mactan Island Chamber of Commerce and Industry former president Efrain Pelaez Jr. said the potential of the island is wasted because of the lack of infrastructure and a deteriorating environment.

The presence of world-class resorts and hotels in Mactan Island is not complemented with infrastructure like coastal boulevards that could attract more tourists to the area. Pelaez said the island does not even have smooth sidewalks for guests who want to explore the island.

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He said Lapu-Lapu also lacks well-constructed roads.

Pelaez also said that while economic development should be a priority, protection of marine life and proper garbage management should not be forgotten.

He also said coordination with the Department of Environment and Natural Resources is necessary to improve the tourism infrastructure in the island while maintaining ecological balance.

Pelaez said Mactan Island has a large potential for eco-tourism and the government should capitalize on this. He also said goat farming and shell craft cooperatives can also help uplift the lives of city residents.

Pelaez said he is running for the city’s top post to develop healthcare, housing, education, the environment and end corruption. He said he wants to let everyone know that “Mactan is open for business.” (Lareina Devi Rajah, UP Mass Com Intern)