Stock News 2013: Century Properties exceeded P20B sales

English: New housing development, Sylvan Drive At the time of Geograph submission, the developer claims 80% of properties are sold, but the estate does not yet appear on the 1:50,000 OS sheet (Photo credit: Wikipedia)

Property developer and publicly listed firm Century Properties Group Inc. (CPG) exceeded its P20-billion pre-sales target for 2012, hitting P21.4 billion.

Century’s pre-sales figure in 2012 was up 16.6 percent from the P18.4 billion recorded the previous year.

The 26-year-old real estate firm said it attained strong growth in sales due to the robust demand for housing and commercial properties from its market base of local end-users, foreigners and Filipinos working overseas.

Century also expanded its portfolio in 2012, becoming an active player in the luxury, middle-income and affordable segments.

“The demand for real estate remains very strong as proven by our robust sales, and the market recognizes that the timing and conditions are indeed ripe for buying good property. The expanding middle class, more job and income opportunities that lead to an increase in purchasing power, low interest rates, and robust remittances—these and more factors contributed to the growth of Philippine real estate this year, and to the growth of Century as a prime developer,” Century Properties chief operating officer Jose Carlo R. Antonio said.

http://business.inquirer.net/104241/century-properties-exceeded-p20b-sales-target-for-2012

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Stock News 2012: Robinsons in talks with Okada

A row of "Wheel of Fortune" slot machines in a casino in Las Vegas. This specific slot machine is themed to the TV game show Wheel of Fortune. (Photo credit: Wikipedia)Robinsons Land Corp. (RLC), the real estate development arm of Gokongwei flagship firm JG Summit Holdings Inc., remains in discussions with Japanese billionaire Kazuo Okada for his $2 billion casino project in Philippine Amusement and Gaming Corp. (Pagcor)’s Entertainment City in Manila.

“We’re still in talks. It’s really gonna be a long discussion,” said RLC president Frederick D. Go when asked for an update on a possible collaboration with the Japanese tycoon.

The company earlier said it was looking at a number of opportunities which include running the retail, hotel and gaming operations for Okada’s project.

Okada, who made his riches in a game that mixes slot machine style gambling with pinball, holds one of four licenses to operate integrated casino resorts worth at least $1 billion each in the 110-hectare Entertainment City.

After hogging headlines a few months ago with his feud with erstwhile business partner Steve Wynn, Okada faces another setback with the Pagcor’s decision to withhold the casino license of Tiger Resorts Leisure and Entertainment Inc. until it complies with the country’s 40-percent foreign ownership limit.

Tiger Entertainment is the local unit of Okada’s Japan-based gaming device maker Universal Entertainment Corp.

Pagcor chairman Cristino Naguiat earlier said the state-run gaming agency has yet to issue a permanent license to Okada which will allow him to commence operations when his casino complex is completed next year.

Okada has reportedly invited several local property firms to join him in the project to meet the constitutional provision limiting foreign ownership of Philippine companies to 40 percent.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=835031

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Stock News 2012: Top property developers remain keen on FTI

Official seal of City of Taguig (Photo credit: Wikipedia)
Top property developers Robinsons Land Corp., Empire East Land & Holdings Inc. and Century Properties Group remain interested in bidding for the 103-hectare Food Terminal Inc. property in Taguig City, which is among the big-ticket items that will be privatized by the Aquino administration this year.

In separate text messages, RLC, Century Properties and Empire East confirmed their interest in vying for one of the biggest industrial complexes in Metro Manila.

“Yes, definitely. We have always expressed our interest in it since the beginning,” said RLC president Frederick D. Go.

Century Properties chairman and founder Jose E.B. Antonio said: We earlier gave an unsolicited proposal. We’ll revisit it once we see the terms of reference.”

Empire East president Anthony Charlemagne C. Yu said the company remains open to bidding for the property, which is suitable for mixed-use development. “We’re waiting for guidelines and terms of reference to be released,” he said.

The Aquino government has put the FTI property back on the auction block after three failed biddings and three years of delay.

The government will release this week the invitation to bid which will include the parameters of sale such as the minimum target selling price and pre-qualified requirements. The transaction would be in cash payment.

Other major property developers like Ayala Land, SM Group and Filinvest Land have expessed interest in the FTI land, which is home to more than 300 companies.

The FTI property provides industrial and commercial lots for medium-to-long-term leases and industrial buildings with standard-sized stalls for office, warehouse or small scale processing operations.

http://www.philstar.com/Article.aspx?articleId=823383&publicationSubCategoryId=66

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Stock News 2012: CDC Holdings allots P3.3 B for condo projects

Real estate developer CDC Holdings Inc. is alloting P3.3 billion over the next three years for the development of three condominium complexes, one of which is ready for turnover in the last quarter of this year.

CDC Holdings founder Elsie Chua said the company would continue to develop properties for the middle class market which is composed of overseas Filipino workers and young professionals , young entrepeneurs, and local businessmen.

She said that despite the current boom of real estate development and the steady inflow of OFW remittances, the end-user segment is safe from the formation of a property bubble for the next five years at least.

“I don’t see a bubble so long as you are in the end-user market and not in the investor market in the next five years,” said Chua.

She said the market for real estate developments for the middle class continues to be robust because of the large population and the strong inflow of OFW remittances, which at the moment is at $24 billion annually.

CDC Holdings is also one of the top three developers availing of financing form the Home Development Mutual Fund (Pag-IBIG). In fact, 90 percent of their buyers avail of Pag-IBIG financing.

“My competitors are bankers. We are not competing with them. So we are a developer which is tapping the Pag-IBIG program for the end-user market,” said Chua.

To rise in the last quarter of this year is the Giraffe Tower, the commercial complex of the existing Lions Park Residences in Paranaque. The complex will stand on 1.5 hectares of land and will contain spaces for grocery and meat stores.

“This is where we will encourage OFWs to put up their business,” Chua said. Rivergreen Residences, in Manila is expected to rise in four years.

The mixed residential and development consists of two towers and 580 units and total lease area of 4,000 square meters.

Chua said a “big” supermarket chain has committed to operate the hypermarket in the community. The commercial area expects to earn P24 million annually.

Total gross sales is expected to reach P1.1 billion.

Sentrale, which will rise in 2015, is a condominium-hotel development in Makati. The development, which consists of 380 units, is expected to fetch P850 million in sales.

Next year, CDC Holdings is also opening new offices in Dubai, Israel and Germany where OFWs “ earn higher than average.” Marketing efforts in these countries will solely be taken by the company and not through partnerships with foreign firms.

This year, the company targets to reap in P2 billion in sales, P500 million of which is expected to be generated overseas and P1.5 billion domestically. Chua said the company currently enjoys a unit turnover of 80 percent.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=806335

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Stock News 2012: DMCI eyes 20% sales growth

Map of Quezon City's legislative districts. (Photo credit: Wikipedia)
DMCI Homes, the property development unit of Consunji-led firm DMCI Holdings Inc., is eyeing a 20 percent growth in sales and reservations this year, according to a top company official.

DMCI president Isidro A. Consunji said the company is accelerating product launches this year to take advantage of the flourishing property sector, supported by low interest rates.

“Sales and reservations are forecast to rise 20 percent this year from P17 billion in 2011,” Consunji said.

DMCI Homes has earmarked P13 billion this year for the launch of seven new residential projects equivalent to 5,800 units.

The new projects will be a mix of mid-to high-rise vertical community developments, located in key strategic areas within Metro Manila.

Among these new projects include One Castilla Place in Valencia, Quezon City, Zinnia Towers (located along North Edsa, Quezon City), a high-rise development in another prime Quezon City location along A. Bonifacio Street; Verawood Residences in Acacia Estates, Taguig; Torre de Manila a high-rise development in Taft Avenue in Ermita, Manila and Serissa Residences, a medium-rise community along Alabang-Zapote Road in Las Piñas.

The housing segment contributed P1.245 billion to DMCI Holdings’ total net income in the nine months ending September 2011, up 23 percent from P1.01 billion the previous level.

DMCI Homes registered a 25 percent rise in revenues to P5 billion with sales coming from existing projects - East Raya, Magnolia Place, Mahogany Place 3, Ohana Residences and Rosewood Pointe.

http://www.philstar.com/Article.aspx?articleId=781505&publicationSubCategoryId=66

Stock News 2012: DMCI bares 7 condominium projects

DMCI Homes, the property development unit of DMCI Holdings, announced Tuesday at least seven new residential condominium projects that will be unveiled in 2012, investing up to P18 billion or around 6,088 units of fresh inventory in the burgeoning local mid-income property market.

These new projects – located in key, strategic areas within Metro Manila – are in line with the developer's unique proposition of providing top-quality condominium homes to young families. Such developments continue to live up to the company's reputation for pioneering genuine resort-inspired residential condominium communities.

Additionally, compared to entry-level studio units mostly comprising the mid-income segment, DMCI Homes offers more spacious options such as two-bedroom units, which are considered its standard or most popular offering among buyers.

The projects will be a mix of mid- to high-rise vertical community developments. These include: Zinnia Towers, located along a prime property along North EDSA, Quezon City; One Castilla Place in Valencia, Quezon City; a high-rise development in another prime Quezon City location along A. Bonifacio Street; Verawood Residences in Acacia Estates, Taguig; Torre de Manila a high-rise development in Taft Avenue in Ermita, Manila and Serissa Residences, a medium-rise community along Alabang-Zapote Road in Las Piñas.

DMCI Homes is a company of innovative builders and engineering experts that develop modern-day living solutions for urban families. Each of its developments is built with world-standard craftsmanship borne from D.M. Consunji Inc.'s almost 60 years of experience in the construction and development industry.

http://mb.com.ph/articles/347664/dmci-bares-7-condominium-projects

Stock News 2010: Eton to put up another BPO building in QC

Image via Wikipedia

MANILA, Philippines - Eton Properties Philippines Inc. will start the construction of another office building in Quezon City in October to cater to strong market demand.

Danilo Ignacio, president and chief operating officer of the Lucio Tan-led property developer, said the 12-storey project within Eton Centris will have 18,000 square meters of leasable space. It will be completed by the fourth quarter of 2011.

"We have a very strong BPO (business process outsourcing) market this year," said Ignacio.

"Our existing tenants have expressed interest to expand in the new building," he added.

Eton currently has two office buildings, one in Eton Centris and another in Eton Cyberpod Corinthian in Ortigas, which are already leased out.

http://www.abs-cbnnews.com/business/09/22/10/eton-put-another-bpo-building-qc

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Stock News 2010: Vista Land to Roll Out P7.5-B New Condo Dev’t Projects

Image via Wikipedia

Vista Land and Lifescapes is planning to roll out P7.5 billion worth of new vertical development projects in the next coming months to raise the total value to P12.5 billion by 2011.

According to Vista Land president Benjamarie N. Serrano, this is to capitalize on its successful offering of 17 low-rise and mid-rise buildings to different market segments valued at P5.03 billion this year.

Serrano said the company aims to corner a bigger share of the vertical home segment next year by adding new low-rise and mid-rise with residential condominiums and attract the growing number of buyers who prefer the features of this distinctive type of property development.

“We have opened a total of 17 low-rise and mid-rise buildings spread across different projects. We are tapping into our existing master-planned communities where we will incorporate more of these types of developments,” Serrano said.

She noted that “we have done these in our various projects in other areas and the demand has been encouraging.”

Serrano explained that building for the low-rise and mid-rise residential niche is a logical step for Vista Land, with the demand driven by end-users in the metropolis who want to enjoy the advantages of a low-rise or mid-rise development.

She disclosed that Vista Land will initially tap its existing properties, the biggest of which is Vista Lakefront, a sprawling, 60-hectare master-planned community in Sucat, Muntinlupa City.

The group has six of seven planned low-rise and mid-rise developments already completed in the vertical, resort themed Presidio enclave of Vista Lakefront.

http://www.mb.com.ph/articles/277063/vista-land-roll-out-p75b-new-condo-dev-t-projects

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