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)

Century Pursuit of Next ...

For Century, it’s not just about the pursuit of the next building; it’s about finding, developing and maintaining better
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.

 

SAMUEL O. LAO

CENTURY PROPERTIES GROUP INCORPORATED

 +63917.3236123 

 

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.