Stock News 2012: Robinsons The Sapphire Bloc

Sjsu swimming pool (Photo credit: Wikipedia)

Investments made on gemstones are often considered a wise and promising venture. The same highly regarded quality is mirrored in the latest condominium development of Robinsons Land Corp., the Sapphire Bloc.

Strategically located in the center of Ortigas District, the four-tower residential and commercial development, sits on a 8,421-sqm property bounded by Sapphire, Garnet and Onyx Roads. It is envisioned to become the newest stand-out leisure destination in the area, as the new project will be offering a comfortable and convenient lifestyle through its well-designed residential towers and a unique commercial lifestyle bloc component on its ground floor.

“Robinsons Land Corporation aims to set the new standard in residential developments in its home, the Ortigas CBD. With this in mind, The Sapphire Bloc will be Ortigas’ biggest lifestyle bloc,” said Mybelle Aragon-GoBio, VP for Business Development and Financing.

The end goal, simply put, is to satisfy the discerning needs and wants of the active and career-oriented individuals, whose lifestyles demand the convenience of owning an abode at the heart of the city.

“Being located within a pedestrian-friendly Ortigas CBD, we are promoting the ‘walkable lifestyle’. The Sapphire Bloc will be a walkable destination where one can find gourmet restaurants, dessert bars and coffee shops. It will also offer services and shops that will provide a holistic approach to wellness to its customers. Its Lifestyle Bloc will showcase a one-of-a-kind retail mix that will make it a premium investment,” Ms. Aragon-GoBio said.

“Through the art-deco inspired project, Robinsons Land Corporation gives value to your money by giving you efficient-designed living spaces and various amenity offerings the feel of the authentic lifestyle offered by its retail component,” she added.

Among these top-notch amenities that will guarantee comfort are function rooms, private theater, game room, fitness/gym, adult swimming pool, kiddie pool, pool deck, massage/sauna rooms, lawn, children’s playground, gazebo, viewing deck and landscaped areas.

Rising 38 stories high, The Sapphire Bloc will have a total of 414 units with cuts ranging from 30 sqm to 37.3 sqm for a one-bedroom unit (priced between P3 million and P4.08 million); 45.5 sqm to 60 sqm for a two-bedroom unit (P4.9 million to P6.6 million); and 97 sqm for a three-bedroom unit (P10.42 million to P10.6 million).

http://www.mb.com.ph/articles/382179/robinsons-presents-the-sapphire-bloc#.UMJMHeSmj3w

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Stock News 2012: Ortigas family nixes SM offer, partners with Ayala

English: Picture of the Greenhills Shopping Center (Photo credit: Wikipedia)
The Ortigas family has exercised its right of first refusal over British banking giant HSBC’s 34-percent stake in Ortigas Holdings Inc., dealing a major blow to the Sy family’s plan to take over the firm that owns the 16-hectare Greenhills shopping complex.

Ayala Land Inc. (ALI) announced yesterday a strategic alliance with the group led by Ignacio R. Ortigas, allowing it to participate in the development of various properties owned by the Ortigas group.

The Ortigas family has matched the SM Group’s offer to acquire HSBC’s stake, reportedly amounting to P11 billion.

SM Investments Corp. confirmed the transaction.

“We were informed that the existing shareholders of Ortigas Holdings, which consist mainly of the Ortigas family, exercised their right of first refusal on the shares owned by HSBC,” SMIC said.

The SM Group was initially hoping to finalize a deal to take over the property holding firm of the Ortigas family in the first half this year.

In April, SMIC said it was getting nearer to its bid to acquire a controlling stake in Ortigas Holdings, pointing out financing was ready and that it was just waiting for final instructions.

The deal would have allowed the SM Group to corner the lion’s share of the retail market in the burgeoning Ortigas-Pasig-Mandaluyong area.

ALI said it would allocate an initial amount of P15 billion for this purpose. The development project will include plans for residential, office, retail, and hotel components.

ALI said the partnership in line with the group’s strategy, which includes expanding its operations in key growth centers in Metro Manila. ALI intends to contribute its expertise in building large scale, mixed-use developments to this partnership.

The strategic alliance is expected to generate significant synergies with the other ALI integrated mixed-use communities in key business districts such as Makati, Bonifacio Global City and Quezon City.

“We are privileged to be a part of this strategic alliance. We welcome the opportunity to participate in the development of these key areas in Metro Manila,” said ALI president Antonino T. Aquino. “Many of our successful developments such as the Ayala Alabang, Cebu Park District, Bonifacio Global City, Trinoma, Nuvali, Abreeza Davao, and Centrio Cagayan de Oro were built on strong partnerships with various groups.”

Ortigas & Co. currently owns strategic land bank areas in the Ortigas Business District, Greenhills Shopping Center, Tiendesitas in Frontera Verde, Circulo Verde and Capitol Commons.

The Ortigas district, which encompasses at least 100 hectares, is home to many shopping malls like Robinsons Galleria, Shangrila, Megamall, Podium and St. Francis Square.

Megamall, developed and operated by shopping mall giant SM Prime Holdings Inc., sits on 18 hectares of prime land with a total floor area of about 348,000 square meters. It is currently undergoing renovation and expansion with the three- hectare parking lot in front of EDSA being converted into a commercial and office space for business process outsourcing companies.

The expansion will give Megamall an additional 100,000 sqm of gross leasable area and will make it the largest shopping mall in the country, topping SM City North Edsa.

The Ortigases, whose historic roots date back to the 300-year Spanish colonial rule, are among the largest landowners in the country. They developed upscale residential subdivisions Valle Verde and Wack-Wack as well as the 77-unit Luntala townhouse project within Valle Verde 6.

Aside from the Greenhills Shopping Center, the group’s retail portfolio also includes the 18-hectare Tiendesitas in Pasig.

Ongoing projects by the Ortigas group include Circulo Verde, a 15-tower residential development located on a 12-hectare property in Calle Industria in Bagumbayan in Quezon City and the P25 billion Capitol Commons, which will rise on a 10-hectare property, which was previously occupied by the Rizal Provincial Capitol.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=822337

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