Stock News 2012: ALI pushes P20-B entertainment complex

Makati Skyline, Philippines (Photo credit: ibarra_svd)

Property giant Ayala Land Inc. is going full throttle to transform Makati City into the nation’s premiere financial and entertainment district with the development of the Philippine Racing Club Inc.’s former race track in Sta. Ana into a P20-billion entertainment complex.

The project forms part of ALI’s P60-billion investment plan for six major districts in Makati for the next 10 years.

The property, said to be the last big piece of property in Makati, will be converted into a township with recreational, entertainment, commercial, retail, office, residential and even hotel facilities.

“We will be launching this in two weeks and will be able to give budget details then,” said Antonino T. Aquino, president of ALI.

PRCI will contribute to the joint venture its entire 21-hectare property, which used to be the site of its horse-racing operations until 2008. The property is located along the inner portion of Pasong Tamo in Makati City.

ALI, on the other hand, will undertake the development of the large-scale project, which could take 10 years to complete.

PRCI and ALI will share in the revenues to be generated from the project, which will sell residential units as well as lease out office and commercial space.

Six years ago, ALI also partnered with with Manila Jockey Club to develop the latter’s former San Lazaro racetrack area in Sta. Cruz, Manila.

ALI has been aggressively expanding its property investments, having launched several projects this year.

In Makati alone, the company has committed to invest around P60 billion in six distinct and complementary districts – Makati North (young and creative), Makati central business district (business), Ayala Triangle Gardens (urban oasis), Makati South (transport hub), and Sta.Ana (Makati’s entertainment district) covering a total of 70 hectares.    

In Quezon City, ALI will build a P65-billion new central business district hub in the North Triangle area over a 10-year period. Dubbed Ventris North, the project will include office and residential towers, commercial buildings and recreational facilities.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=866820

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Stock News 2012: Century Properties forges jv for 142-ha Batangas

Seal of Makati City, Philippines (Photo credit: Wikipedia)
In a disclosure to the stock exchange yesterday, Century Properties said its wholly-owned unit Century Communities Corp. has signed an agreement with Group Developers Inc., Caylaway Development Corp. and Batulao Bio-loop Farms Inc. to develop a tourism-oriented project catering to both the local and foreign markets.

Century Properties did not disclose other details but nevertheless committed to report any relevant and material information on developments regarding the joint venture.

The project marks Century Properties’ entry into the tourism-related business, seen as the next big thing in the Philippines, especially with the government putting great effort in promoting the industry.

Bullish on the property sector, Century Properties has earmarked up to P8.3 billion for its capital expenditures this year, more than twice the P2.6 billion spent in 2011.

Century Properties is accelerating the development of new and existing projects within its four master-planned developments, namely Century City in Makati City, Canyon Ranch in Cavite, Azure Urban Residences in Parañaque City and Acqua Residences in Mandaluyong City.

These new developments, when completed, will make available 23 condominium buildings with 15,703 condominium and office units and 955 single-detached homes, with a gross floor area of 1.18 million square meters.

Century Properties, through subsidiary Century Limitless Inc., is also developing a P4.8- billion mid-rise condominium, located on a 4.4-hectare lot along Commonwealth Ave. The project will comprise a total of 2,000 affordable housing units.

The group had pre-sold P18.8 billion worth of residential units last year, more than double the P8 billion recorded in 2010. On a unit basis, it pre-sold 5,367 units in 2011, more than twice the 2,325 units sold a year earlier.

Century Properties is the developer of the posh Essensa East Forbes in Fort Bonifacio and the Pacific Star building.   Its portfolio also includes the country’s first fully-fitted and fully-furnished condominium South of Market (SOMA) in Fort Bonifacio, SOHO Central in the Greenfield district of Mandaluyong City, Pacific Place in Ortigas, and a collection of French-inspired condominiums in Makati City called Le Triomphe, Le Domaine and Le Metropole.

http://www.philstar.com/Article.aspx?articleId=775284&publicationSubCategoryId=66

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Stock News 2011: ALI developing former PRC racetrack

Image by GianCayetano via FlickrImage via Wikipedia
Property giant Ayala Land Inc. is planning to develop the 21-hectare former racetrack of Philippine Racing Club Inc. into the entertainment district of Makati City.

In an interview, ALI Strategic Landbank Management Group vice president Anna Bautista-Dy said ALI will take advantage of the property’s being near a river and should be launching projects by next year.

“We’d like more live performances, spaces for gathering around, more river-facing projects, perhaps a boardwalk along the river,” she said adding that it will be “more of an outdoor oriented retail, entertaining component.”

ALI and subsidiary Alveo Land Corporation have signed a deal with PRCI earlier this year for the mixed-use development of PRCI’s property in Bgy. Carmona, Makati City.

PRCI corporate secretary Jesulito Manalo disclosed to the Philippine Stock Exchange that, under the agreement, PRCI will contribute its 21 hectare lot for its joint development into a mixed-use real estate project.

ALI chief finance office Jaime Ysmael said the project will form part of ALI’s ongoing developments in the City of Makati but specific details are not yet available and will be disclosed later.

http://mb.com.ph/articles/335825/ali-developing-former-prc-racetrack

Stock News 2011: Megawide targets P5-B contracts, infrastructure

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High-rise builder Megawide Construction Corporation is priming for more growth with negotiations for P5 billion worth of contracts in the second half while looking to bid for infrastructure projects worth P1 billion to P5 billion each.

In an interview after the firm’s annual stockholders’ meeting, Megawide president Edgar Saavedra said they are talking to two major developers and two smaller property firms with the hope of bagging new contracts.

He said they expect to complete negotiations for at least one of the five targeted projects and make an announcement in about two weeks.

Megawide chairman Michael Cosiquien disclosed that these projects are in Makati, Quezon City and Manila adding that these projects are for the mid to high end segments of the market.

http://mb.com.ph/node/325586/megawide-target

Stock News 2011: Vista Land sees strong growth in 2011

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Vista Land and Lifescapes expects to post strong growth in 2011 on back of its diversifying into sectors such as the vertical residences segment where it was able to launch projects worth P12.5 billion in its maiden year.

“We are very pleased that Vista Land’s diversification efforts are on track, based on our performance in the past year,” said Vista Land President Benjamarie N. Serrano adding that the firm will focus more on the middle-rise segment in 2011.

Leveraging its leadership in affordable housing, Serrano said Vista Land is building its successful implementation of its diversification strategy last year, foremost among which is the firm’s carving out a major role in the vertical residences segment.

Vista Land started 2010 with the introduction of its newest business unit, Vista Residences, which consolidated all its condominium projects for greater operational and sales efficiencies, along with a unified brand presence in the market.

Vista Residences now has 22 developments in its portfolio, with 15 of them completed and turned over to buyers very recently.

The completed developments are Madison, Symphony Tower 1, and Pinecrest Tower 1 in Quezon City; Mosaic and Trevi Tower 1 in Makati; Crown Tower U-Belt in Manila; Marfori, Michelangelo, Rembrandt, Monet, and Bellini in Sucat; Grand Quartier 1 and Grand Quartier 2 in Tagaytay; Pacific Residences Tower 1 in Taguig; and Northpoint Tower 1 in Davao.

The business unit’s seven ongoing condominium developments are flagship project WIL Tower 1 and Pinecrest 2 in Quezon City; KL Mosaic, Trevi Tower 2, and Trevi Tower 3 in Makati; and Avant and Pacific Residences 2 in Taguig.

http://www.mb.com.ph/node/297766/vi

Stock News 2010: Eton's First Homes unit launches second condo project in Makati City

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MANILA, Philippines — First Homes, Inc., the affordable condominium subsidiary of Eton Properties Philippines Inc., has launched a new project in Makati City after being encouraged by the strong sales take up of its Aurora Heights Residences in Quezon City.

First Homes Makati is a 34-storey residential condominium situated at the corner of Chino Roces Avenue (formerly Pasong Tamo) and Malugay Streets, just a few steps away from Ayala Avenue.

“We are helping first time home buyers, hardworking employees and young couples achieve their dreams of owning a home through First Homes,” said Eton president Danilo Ignacio.

Located near the Makati Central Business District, major shopping complexes such as Glorietta, The Landmark and SM Department Stores are all within easy reach. Schools such as the Centro Escolar University, Mapua Institute of Technology and the Far Eastern University are also nearby.

Aimed at first time homebuyers, young employees, working students and newly-wed couples, the project features fully-furnished and move-in ready 2-bedroom and 3-bedroom residential units.

Amortization starts at an affordable P10,000 a month for the 2-bedroom unit and P17,000 a month for the 3-bedroom unit.

“Investors looking to rent out condo units will likewise enjoy rewarding leasing opportunities,” said Ignacio.

http://www.mb.com.ph/node/292224/eton

Stock News 2010: Geo-Estate gains ground with The Beacon Makati

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 MANILA, Philippines – Geo-Estate Development Corp.’s maiden venture, The Beacon Makati, is now taking shape amidst more than 10,000 sqm of prime land on the corner of Chino Roces (formerly Pasong Tamo) and Arnaiz (formerly Pasay Road) Avenue. Recently, Geo-Estate president and COO Miriam O. Katigbak expressed confidence that the project will emerge as the only condo development of its kind in the area with a distinguishable and unparalleled “residential resort” theme.

This pronouncement is related to the impending turnover of the first building, Roces Tower, by the middle to the third quarter of 2011. Now in its finishing stages, construction is deemed right on track.

“We started construction of Roces Tower in the middle of 2008 and this 42-story structure is now set for completion soon. For the second phase which is Arnaiz Tower, we started construction in August this year and it is scheduled for turnover in 2013. Amorsolo or Tower 3 is presently in its planning stages and will be launched soon,” Katigbak said.

With sales averaging well across the market segments, Katigbak said that the industry has started to take notice of Geo-Estate as a formidable developer even if it is a young company.

http://www.mb.com.ph/articles/290367/geoestate-gains-ground-with-the-beacon-makati

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