Stock News 2012: SMDC profit rises 5.7%

English: One e-CommCenter, SM Mall of Asia Complex Picture taken by Exec8 December 4, 2007 (Photo credit: Wikipedia)

SM Development Corp. (SMDC) said its earnings in the nine months to September rose 5.7 percent to P3.3 billion from a year ago.

The property arm of mall and banking tycoon Henry Sy recorded a 42.7-percent uptick in revenues from real estate sales at P16.1 billion, from P11.3 billion in the same period last year.

“SMDC’s projects have been very well received by the market because of their quality, affordability, location,” the company said in a statement.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) in the nine-month period was at P3.7 billion, resulting in an EBITDA margin of 23 percent.

Return on equity was maintained at 12 percent, SMDC said.

Majority of the units sold were from Shell Residences in the Mall of Asia Complex, Green Residences along Taft Ave. Jazz Residences in Makati, Light Residences along EDSA, Sun Residences near the Welcome Rotonda in Quezon City, and Wind Residences in Tagaytay, SMDC said.

The company scheduled the launch of five projects in the second half, equivalent to around 73,000 new residential units.

It represents a sharp increase from the 9,000 units developed in 2011. The company stands to generate about P37 billion from the sale of these units.

SMDC has set a capital spending of P20.7 billion this year, significantly higher than the P13 billion spent in 2011. Bulk of the programmed capital budget will go to the construction of ongoing and new projects while about P4 billion has been earmarked for land banking.

http://www.philstar.com/Article.aspx?articleId=867827&publicationSubCategoryId=66

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Stock News 2011: SMDC tops NCR's condominium sales

Image via WikipediaSM Development Corporation (SMDC) has again garnered the top spot in National Capital Region or Metro Manila’s competitive residential condominium market.

According to a recent Colliers International Philippines report, SMDC sold the most number of Metro Manila residential condominium units and attained the highest amount in terms of sales value during the first half of 2011.

This continues the trend of SMDC topping the list for the past two years as cited by similar Colliers studies.

Based on the Colliers report, SMDC sold 4,117 residential condominium units from January to June 2011 worth P9.0 billion. This translates to a 22 percent market share in terms of number of units sold in an industry with more than 90 players.

SMDC currently has in its portfolio 15 residential projects, 14 of which are in Metro Manila and one in Tagaytay City. Six projects namely Berkeley Residences, Chateau Elysee, Mezza Residences, Field Residences, Grass Residences, and Sea Residences are ready for occupancy.

This year, the company launched two of its latest projects, Mezza II Residences, which is located at the corner of Aurora Boulevard and Guirayan Street in Quezon City and is very near SM City Sta. Mesa, and M Place @ Ortigas, located along Meralco Avenue in the heart of the Ortigas Commerical Business District in Pasig City.

http://mb.com.ph/articles/336234/smdc-tops-ncrs-condominium-sales

Stock News 2011: Robinsons Land to build 200-room Mactan hotel

Image via Wikipedia
Robinsons Land Corp. is set to build a 200-room deluxe seafront hotel in Mactan, Cebu, raising its stake in tourism in the country’s biggest commercial hub outside Metro Manila.

During Friday’s listing on the Philippine Stock Exchange of P13.65 billion worth of shares recently sold through a stock rights offering, RLC president Frederick Go told reporters that the new hotel would be called “Summit Shores” and would cater to both leisure and convention tourism.

The new hotel is in the planning stage and construction can start this year. It will occupy two hectares out of RLC’s five-hectare leisure estate development Amisa in Mactan along the same row as the plush Shangri-La and Movenpick Resort & Spa (formerly Hilton).

The upcoming hotel would be finished in two years, Go said. It would offer hotel rooms for $100 to $120 a night and would be more of a sprawling type of hotel-resort with a large convention facility than a high-rise development, Go said.

The Mactan hotel will be the fifth among RLC’s portfolio of deluxe hotels and the second in Cebu after an earlier hotel in Cebu City formerly called Cebu City Midtown Hotel. The group also owns the Galleria and Crown Plaza hotel properties in the Ortigas central business district and Summit Ridge in Tagaytay.

http://business.inquirer.net/2102/robinsons-land-to-build-200-room-mactan-hotel

Stock News 2011: ALI unit Alveo aims to double sales to P13 B

Image via Wikipedia
Alveo Land, the upper-middle income segment residential developer of property giant Ayala Land Inc. (ALI), is aiming to double its sales this year to almost P13 billion from the P6.4 billion registered in 2010.

In a press briefing, Alveo project development manager Antonio Sanchez III said the strong growth will be supported by the introduction of more inventories this year from ongoing projects as well as new launches.

He said Alveo intends to launch 12 new projects nationwide, up from just five new projects last year. This is in addition to the firm’s 16 ongoing developments that still have inventories to sell.

Sanchez said the new launches will mark Alveo’s expansion to the provinces with one project each to be launched in Davao, Cebu, Pampanga, Tagaytay and Baguio this year. Alveo will also launch seven new projects in Metro Manila in 2011.

Alveo is now the leading residential developer in South Luzon highlighted by three signature developments in its Southside, the dynamic and upscale communities of Verdana Homes Mamplasan, Treveia and Venare.

Taking its cue from the rapid development of various business and commercial establishments in Laguna, the Alveo Southside District has so far shown remarkable sales performance.

It continues to dominate the South Luzon market with a 58.5 percent total market share in 2010 as compared to the 41.5 percent showing of other developers in the area.

http://www.mb.com.ph/node/307387/ali-unit-alveo-aim