Pages

Showing posts with label fort bonifacio. Show all posts
Showing posts with label fort bonifacio. Show all posts

Thursday, May 16, 2013

Stock News 2013: SM inaugurates SM Aura at Global City

English: SM Supermalls logo
English: SM Supermalls logo (Photo credit: Wikipedia)

Tycoon Henry’s Sy’s SM Prime Holdings has debuted in Bonifacio Global City with the launch of SM Aura, a state-of-the-art civic center with office and retail space that was built as a partnership with the City of Taguig.

SM Aura, which has a gross floor area of 234,892 square meters, is an integrated development that incorporates office towers, a chapel, a convention center, and a mini-coliseum, supported by a retail podium with an upscale look and feel.

“We are glad to be given this opportunity to work with the city of Taguig in building a state-of-the-art civic center which will redefine the city’s landscape. We support Taguig’s bid to be a world-class city as SM Aura is an innovative concept with its fashion, dining, entertainment, business and lifestyle selections and ground-breaking architecture and first-rate design that will appeal to other cities that want to showcase their best for the world to see,” SM Prime president Hans Sy said in a press statement on Thursday, during the blessing of the new structure.

With this new complex, the SM group said it aimed to transform Taguig’s town center into a “landmark and prestigious address, showcasing the best in building design and environmental sustainability, with superior engineering, cutting-edge technology and modern facilities for conventions, exhibits and other community events.”

SM Aura also aims to be one of the first civic centers in the country to be certified Gold under the US Green Building Council Leadership in Energy and Environmental Design (LEED) program, an internationally recognized green building program established in 135 countries.

Designed by the Miami-based architectural firm Arquitectonica, the design of this building forms three curvilinear ribbons evocative of a tree extending its roots. Each ribbon is subdivided to form large staggered windows at the northern end. At the southern end, the three ribbons turn vertically to form the office towers, with each ribbon being slightly angled and finishing at different levels.

A dome-shaped, state-of-the-art, 1,000-seat event hall to be named “Samsung Hall” will serve as a  venue for concerts, stage performances, plays, and product launches. A modern arched structure forms the roof of The Chapel of San Pedro Calungsod, which can seat 250 people.

For anchor tenants, the civic center has SM Department Store and SM Supermarket, as well as the Trade Hall, Foodcourt, two regular Cinemas, two Director’s Clubs and an IMAX Theater. It will also house a convention center that has three main function rooms and eight meeting rooms.

NBA Café is also making its first entry into the Philippines in this structure. SM Aura will also have Trattoria Chef Chris of the famed My Kitchen By Chef Chris at Paco Park, as well as well-known restaurant brands like Lugang Café and Yabu.

In cooperation with Manila Hotel, SM Aura also plans to bring in the Champagne Room at the terrace of SM Aura’s Sky Park, a favorite venue for elegant gatherings and celebrations.

Aside from the NBA Café, Boulangerie Paul, and Todd English Food Hall will be making their debut at SM Aura. To enhance the shopping experience, SM Aura will also provide a host of global brands opening in the Philippines for the first time such as Suiteblanco, Stefanel, Minelli, TM Lewin, J. Lindberg, B.B. Dakota and River Island for fashion.

“SM Prime, through SM Aura, has a remarkable opportunity to lead the shift to sustainability in buildings. SM Aura has set a higher standard with high performance technologies that use less energy, consume less water, and leave a smaller footprint on the city’s resources,” Sy said.



Enhanced by Zemanta

Wednesday, January 16, 2013

Stock News 2013: SC stops BCDA from bidding Boni lot

A part of Malacañang Palace viewable through w...
A part of Malacañang Palace viewable through windows at the west side of Saint Jude Catholic School. (Photo credit: Wikipedia)

The Supreme Court has stopped the Bases Conversion Development Authority (BCDA) from bidding out the Bonifacio South Pointe project, giving weight to the petition of SM Land Inc., which has a pending unsolicited proposal to acquire and develop the property.

A BCDA official, speaking on condition of anonymity, confirmed the issuance of an injunction by the high tribunal, adding that the temporary restraining order was issued last Thursday.

“It did not specify how long the TRO would be in effect, so it’s indefinite,” the official said.

SM Land—the property development arm of the SM group of tycoon Henry Sy Sr.—gave an unsolicited proposal for the 33.1-hectare parcel of land on the southern edge of the former Fort Bonifacio military camp as early as 2009.

Under the law, an unsolicited proposal would be subjected to a so-called Swiss challenge where other interested firms would be asked to submit other bids, which the original proponent (in this case, SM Land) would have the right to match and consequently win the bid.

The government invited other parties to better SM Land’s bid of P36,900 a square meter in August 2010, but the entire process was put on hold after Malacañang decided to reject the unsolicited proposal and go for an open bidding. At the time SM made the bid, the property’s value was assessed at P9,000 per square meter.

According to Inquirer sources, the case was filed “reluctantly” by SM Land before the Supreme Court but that the firm felt that its interests had to be protected.

“I understand the company was hesitant to sue because it wants to help the government as much as possible,” said an industry official familiar with the issue. “But I guess SM had to serve notice—including to other potential bidders—that there is a pending [unsolicited proposal] process.”

The Inquirer tried to contact BCDA president Arnel Casanova but he has not replied as of press time. SM officials declined to comment on the issue.

BCDA earlier said, however, that SM Land would be invited to participate in the planned fresh bidding despite its unsolicited proposal having been rejected.

Under the BCDA’s original plan, a pre-bid conference would be conducted on Jan. 17 and the final bidding in mid-February. The government has set a base price of P13.26 billion for the property, which currently houses the Army Support Command, the Army’s Special Services Unit, and the Bonifacio Naval Station shared by the Philippine Navy and the Philippine Marines.

The original SM bid would have pegged the entire property’s value at P12.2 billion.

http://business.inquirer.net/102313/sc-stops-bcda-from-bidding-boni-lot

Enhanced by Zemanta

Thursday, November 8, 2012

Stock News 2012: ALI earnings rise 27%

English: Venus Raj at "The GOOD Run"...
English: Venus Raj at "The GOOD Run" event in Bonifacio Global City, Taguig, Metro Manila, Philippines. (Photo credit: Wikipedia)

Property giant Ayala Land Inc. (ALI) maintained its robust earnings growth, recording close to a 30-percent uptick in January to September profits on the back of strong performance of all its business segments.

In a disclosure, to the stock exchange, ALI said its earnings in the nine-month period hit P6.62 billion, up 27 percent from P5.23 billion a year ago “on the back of the strong performance and margin improvement achieved by all of the company’s major business lines.”

Consolidated revenues jumped 20 percent to P39.01 billion from P32.63 billion last year.

Specifically, revenues from real estate and hotels, which accounted for the bulk of total revenues, climbed a fifth to P36.89 billion.

ALI said its net income margin also improved, rising to 20 percent from 18 percent year-on-year.

“We are midway into our 5-10-15 plan and we continue to progress very well, and this is reflected in our results over the first nine months of the year,” said ALI chief finance officer Jaime Ysmael.

“Average monthly sales take-up remains very robust and margin improvement is steady for all business lines,” Ysmael said.

ALI is in the thick of its so-called 5-10-15 plan, which targets P10 billion after-tax income and a return on equity of 15 percent in five years ending 2014.

Ysmael said the property firm has spent 94 percent its full-year programmed capital expenditures, with a number of projects still to be launched late this year.

ALI has earmarked P37 billion for its capital spending this year – its highest capital expenditures ever – mostly to go to residential projects, followed by shopping centers and hotels.

The property development segment, composed of the sale of residential units and industrial lots, grew its revenues 27 percent to P23.91 billion in the nine-month period from P18.8 billion a year ago.

Revenues from the residential segment reached P22.32 billion, up 27 percent from last year, driven by strong sales and continued construction of projects across all residential brands.

ALI said sales take-up in the nine-month period hit P57.85 billion, equivalent to an average monthly sales take-up of P6.43 billion, surging by half from P4.31 billion last year.

So far, ALI’s four residential brands launched a total of 13,057 units.

Revenues from the sale of commercial and industrial lots rose 26 percent to P1.59 billion in the nine-month period due to the sale commercial lots in Nuvali in Laguna and Bonifacio Global City in Taguig.

For commercial leasing, ALI said its revenues climbed19 percent to P6.34 billion from P5.33 billion recorded in same period last year.


Enhanced by Zemanta

Friday, July 6, 2012

Stock News 2012: ALI to spend P65 B on new QC hub

Skyline of Quezon CitySkyline of Quezon City (Photo credit: Wikipedia)
Taking an even more aggressive posture, property giant Ayala Land Inc. (ALI) is coughing up P65 billion over a 10-year period to develop Vertis North, a new urban, transit-oriented, mixed-use community within the North Triangle property in Quezon City, which is envisioned to be the country’s next premier central business district.

In a briefing yesterday, ALI president Antonino Aquino said the 29-hectare Vertis North will be the group’s biggest and most modern development in Quezon City seen to attract top locators in the area.

Vertis North, a joint venture between ALI and the state-run National Housing Authority, will have 45 towers, comprising a broad range of offices, residential and retail spaces and a hotel when completed.

Aquino said the group’s track record and strong branding will ensure that the development will achieve its highest potential value.

Encompassing 220,000 square meters of space, the first phase of Vertis North will require an investment of P12 billion over a three-year timeframe to construct office buldings catering to business process outsourcing (BPO) companies, a Kukun hotel, and a retail strip patterned after Bonifacio High Street within a seven-hectare lot.

“The aim is to create a new and dynamic urban area with a high quality of life. This is envisioned to be the gateway to the North given its connection to the commuter rail lines and major road arteries. We feel QC, being the largest city in area and population, deserves to have its own CBD,” Aquino said.

“Vertis North will be no different from what ALI has developed in the past. It would be like Makati - a large-scale mixed use development that is now the country’s central business district,” he added.

Vertis North is the culmination of a public bidding process initiated by the government on Oct. 3, 2008. The joint venture aims to benefit NHA in achieving its mandate of providing housing for informal settlers and transforming a non-performing asset into a model for urban renewal.

NHA, which contributed the land, expects to gain around P11 to P12 billion worth of housing investments through its partnership with ALI, partly helping them curb the huge housing backlog.

NHA general manager Chito Cruz said that of the 10,000 families squatting in the area, the number has been reduced to around 3,500. He is hopeful he can relocate the remaining informal settlers by September this year.

Aquino said ALI, which pioneered the establishment of integrated business hubs like the Makati central business district and Bonifacio Global City, wants to put up an intermodal transport terminal facility at Vertis North to further stimulate growth in the area.


Enhanced by Zemanta

Thursday, July 5, 2012

Stock News 2012: Puregold finalizes S&R deal

Front of Puregold Dau taken from an angle.Front of Puregold Dau taken from an angle. (Photo credit: Wikipedia)Puregold Price Club Inc. has completed the acquisition of 100 percent of S&R Membership Shopping club through a P16.5-billion share swap, effectively making the upscale retailer a wholly-owned Puregold subsidiary.

In a disclosure to the Philippine Stock Exchange, Puregold said Kareila Management Inc., the operator of S&R, has already issued the stock certificates in the name of Puregold.

Under the deal, Puregold acquired 1.7 million shares of Kareilla in exchange for 766.4 million shares of Puregold. Both firms are controlled by Chinese-Filipino businessman Lucio Co.

The Co family now owns 77 percent of Puregold’s outstanding shares.

The acquisition has allowed Co to consolidate his retailing businesses into a publicly-listed vehicle targeting all market segments and further strengthened the group’s leading position in the industry.

Puregold caters to the lower-income segment with a market share of 16 percent. On the other hand, S&R, which caters to the middle and upper class consumers, has a market share of 3.3 percent.

S&R has a total membership base of over 214,700 across the country. It operates six stores located in Bonifacio Global City, Congressional Ave. in Quezon City; Alabang, Muntinlupa; Aseana business park in Baclaran; San Fernando in Pampanga; and Mandaue City in Cebu.

Established in 2000 in partnership with Price Smart of the US, S&R was eventually acquired by the Co family in 2006.

To capitalize on the growing consumer needs of the mass market, Puregold recently acquired the Parco supermarket chain in a deal valued at around P760 million. The deal involved the purchse of 100 percent of the Gant Group of Companies, the holding company of the Ong family for the six subsidiaries operating the 19 branches of Parco supermarkets.

Of Parco’s total store network, 12 are located in Metro Manila, three in Bulacan and four in Rizal.

The purchase was in line with the Co family’s goal to double the number of its stores by 2015 as it expands into the untapped markets Metro Manila as well as in Visayas and Mindanao.

Puregold, which is now the country’s second biggest retailer next to the SM Group, intends to open 25 stores in 2012 and 2013.


Enhanced by Zemanta

Friday, June 29, 2012

Stock News 2012: ALI launches P30-B One Bonifacio High St

English: Fort Bonifacio in Taguig CityEnglish: Fort Bonifacio in Taguig City (Photo credit: Wikipedia)
Ayala Land Inc. (ALI) is aggressively building up its presence in Bonifacio Global City with the launch of a P30-billion premium mixed-use block called One Bonifacio High Street – its biggest investment in one single area to date.

In a briefing yesterday, ALI president Antonino Aquino said they are rigorously expanding in Bonifacio Global City to further strengthen the company’s leadership in developing large-scale, mixed-use urban hubs in the country.

“The aggressiveness is a result of the economy. We have never seen the economy to look this bullish and we want to be in step,” Aquino said.

He said One Bonifacio High Street will soon be home to the new headquarters of the Philippine Stock Exchange and will banner an all suite-residential tower, a high-end lifestyle center as well as a five-star Shangri-La Hotel.

Aquino said half of the estimated development cost for One Bonifacio High Street will be equally divided among ALI and its partners Evergreen Holdings of the Campos family and Fort Bonifacio Development Corp. The other half will be shouldered by the Shangri-La Group, which is building a 577-room Shangri-La Hotel as well as 97 serviced apartments and 99 luxurious residential condominium units.

The investment will be made over a four-year period, he said.

Around P3 billion to P5 billion has been earmarked for the development of the unified stock exchange which is targeted for completion by late 2016 to early 2017. Another P2 billion to P3 billion will be spent for the retail shops.

For the residential component, ALI, through subsidiary Ayala Land Premier, is pouring in P9.9 billion for the 63-story iconic tower, The Suites, which will be the first and only all-suite residential development in the block and is probably the group’s most expensive project in the area, selling at P180,000 per square meter.

Jose Juan Jugo, Group head for ALP, said sales of The Suites have been spectacular with only three units left within 96 hours or since it was launched last June 24. Turnover of the units is slated to begin in the fourth quarter of 2018.

The Suites will house 298 residential suites and limited edition sky villas with sizes ranging from 136 sqm to 430 sqm.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=821972

Enhanced by Zemanta

Sunday, June 17, 2012

Stock News 2012: Shang Properties eyes more acquisitions

Shangri-la Plaza Mall logoShangri-la Plaza Mall logo (Photo credit: Wikipedia)
Entering its third decade as a premier real estate developer, Shang Properties Inc. of Malaysia’s Kuok Group is on the lookout for potential sites it can add to its portfolio as a sign of growing confidence in the Philippine economy.

“Shang Properties is confident about the Philippine’s economic environment and is expanding our land bank for future investments. We remain well-positioned to actively participate in the property development sector,” said company chairman Edward Kuok in his report to shareholders.

Kuok said the company remains committed to be the leading developer and manager of prime properties in the country through product innovation and excellent service.

Milen Treichler, Shang Properties marketing manager, said the company is looking to further expand its presence in Makati, Fort Bonifacio and Ortigas as it aims to capitalize on a resilient, domestic-driven economy and the government’s aggressive pump-priming activities.

The government is boosting spending to a record this year as it seeks to spur the $200 billion economy’s growth rate to as fast as eight percent from about five percent last year.

It also aims to take advantage of historically low interest rates available today, which is seen to further prop up consumer spending.

Shang Properties is constructing three large-scale projects simultaneously —One Shangri-La Place in Ortigas Center, Shangri-La Hotel at the Fort, and the Shang Salcedo Place in Makati — with a combined development cost of P37.3 billion. The amount includes the P1.8 billion earmarked for renovations of the existing Shangri-La mall, its park building and estate.

Bulk of the P37.3 billion or P18 billion will be spent on the Shangri-La Hotel at the Fort, in which the group has a 40 percent stake. The project, in partnership with Hong Kong listed affiliate Shangri-La Asia Ltd. and Alphaland Development Inc., will feature a 577-room Shangri-La Hotel, 97 serviced apartments, and 99 luxurious residential condominium units.

Construction of the two-tower One Shangri-La Place, the group’s largest development to date commenced in October 2009 and has now reached the 10th level. Both towers which will be 64-storys high, offer a total of 1,304 residential units, of which 60 percent have already been sold to date, generating sales revenues of P6.6 billion. The residences are targeted for completion in 2014.

Development cost for the project, which will rise above the six-level Shangri-La Plaza mall expansion, was pegged at P12.5 billion. Slated for opening in 2013, the new mall will be home to over 150 shops and restaurants and two levels of basement parking.

The upscale residences are slated for completion in 2014.

The company has earmarked around P5 billion for the 64-story Shang Salcedo Place, which will rise on 3,045 square meter lot in Salcedo Village.   The project will make available a total of 778 units with a total gross floor area of 60,900 square meters. Pre-selling commenced in May 2012.

In the first quarter this year, Shang Properties reported a 48.8 percent growth in net income to P298 million on the back of a 30.6 percent rise in sales.

Condominium sales amounted to P205.3 million, mainly driven by One Shang Place sales.  

http://www.philstar.com/Article.aspx?articleId=818232&publicationSubCategoryId=66

Enhanced by Zemanta

Wednesday, May 2, 2012

Stock News 2012: BCDA awaits Palace okay on sale of prime properties

Fort Bonifacio 7Fort Bonifacio 7 (Photo credit: Wikipedia)State-run Bases Conversion Development Authority (BCDA) said it is awaiting Malacañang’s approval of its plan to dispose prime properties.

The sale of idle state assets in the sprawling Fort Bonifacio complex in Taguig will generate as much as P40 billion in revenues for the government, its top executive said.

“We are still waiting for the approval of the President on our disposition plans,” BCDA president and chief executive Arnel Paciano D. Casanova said.

“We have met with the Executive Secretary already and with the Department of Finance representative so we expect the asset disposition plan to be approved within the month,” he added.

BCDA plans to sell the 33.1-hectare military lot in South Bonifacio and another 25-hectare lot also in Taguig.

Casanova said the proposal sent to Malacañang lists all the properties the agency wants to develop or sell.

“For Fort Bonifacio, we are hoping to dispose the property. We could expect about P35 billion to P40 billion,” Casanova said.

In 2010, SM Land Inc., which handles the SM Group’s commercial property development, submitted a P47.9-billion unsolicited offer to develop the 33.1-hectare military lot.

But the potential Swiss challenge did not push through as the offer underwent reviews by the new administration.

“We have submitted our recommendation to the President and it is one of those issues we submitted to him,” Casanova said, refusing to give more details on the asset sale.

But he said the goal is for the government to receive the best value for the land.

“The general policy really is competitive bidding because the assumption is the interplay of market forces would create the best value for the property,” he said.

The South Bonifacio property consists of lands partly occupied by the Army Support Command and Special Services Unit of the Philippine Army, and the Bonifacio Naval Station and Philippine Marine Corps of the Philippine Navy.

Casanova said they are also looking at some strategic landbanking, which involves prime lots being offered for leasing.

Meanwhile, he said idle assets also in economic zones like in Clark Field in Pampanga are not for sale but are open for lease and development deals.

Other assets of BCDA include the Clark Ecozone, Poro Point, John Hay Special Economic Zone and the Bataan Technopark.

The approval of the asset disposal plan will allow BCDA to top its performance last year.

Casanova said the agency was not able to sell any land last year.

Last year, BCDA signed a deal allowing the Metro Pacific-led Manila North Tollways Corp. to manage and operate the Subic Clark Tarlac Expressway for 33 years.

“Now we want to dispose major properties in the area to capitalize on the confidence of the market,” Casanova said.

Following the financial crisis, property developers have been launching projects at a brisk pace to take advantage of robust demand from the residential, office and retail sectors.

Casanova said higher investor confidence will benefit the property sector, particularly the office segment, as businesses expand in the country.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=802925
Enhanced by Zemanta

Wednesday, February 8, 2012

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

Seal of Makati City, PhilippinesSeal 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

Enhanced by Zemanta

Tuesday, October 11, 2011

Stock News 2011: BCDA to sell small lots

Fort Bonifacio in TaguigImage via Wikipedia
The Bases Conversion Development Authority is set to issue the terms of reference for the sale of the remaining small parcels of lots in Fort Bonifacio before end this year.

BCDA vice-president for Business Development and Operations Dean J. Santiago said there are two parcels in Fort Bonifacio one is located in the Eastgate parking and another in the Sampaguita ramp. A third property is a one-hectare parcel located in the Villamor Driving Range. These lots could fetch about P500 million for BCDA.

“We are going to issue the terms of reference for the bidding of these small parcels,” he said.

Notice of publication has been set for October 10 this year to pave the way for bidding before end this year.

Awarding of contract of sale is estimated to be early January 2012.

Santiago said the disposition mode for these assets would be outright sale because these are smaller lots. The Villamor lot is ideal for the establishment of institutional projects like schools while the Sampaguita ramp could be ideal for a small commercial development. The EastGate lot would be suited for parking.

http://mb.com.ph/articles/337347/bcda-sell-small-lots


Enhanced by Zemanta

Tuesday, July 5, 2011

Stock News 2011: 7-Eleven chain sees P10-B revenues

7-eleven shopfrontImage via Wikipedia
Philippine Seven Corp., operator of the country’s largest convenience store chain 7-Eleven, expects sales to hit P10 billion this year from P9 billion last year as the company is lording it over competition with 750 total stores by end of this year.

Victor Paterno, president and CEO Philippine Seven Corp., told reporters at the press launch for the Franchise Asia Conference 2011 to be held here in September this year, they are going to open its 600th store on Wednesday in McKinley Hill, Fort Bonifacio .

They have targeted to open 150 new stores this year of which 60 had been opened already. There were only 500 7-Eleven stores last year with 50 percent located in Metro Manila.

With the aggressive store openings, the company has allocated between P600 million to P700 million capital expenditures this year.

Its closest competitor is Mini-Stop but is way below in terms of the number of stores. 7-Eleven accounts for 50 percent of the total convenience store sector.

7-Eleven has also saturated most call center buildings in the metropolis with an estimated 100 stores.

http://mb.com.ph/node/325441/7eleven-chain-


Enhanced by Zemanta

Sunday, December 5, 2010

Stock News 2010: Bayan Business 'Arrives' at Fort Bonifacio Global City

Fort Bonifacio in Taguig CityImage via Wikipedia
Bayan Business, the corporate and business solutions arm of Bayan Telecommunications Inc., recently held a promotional event to showcase its wide array of services and solution offerings that are available for business enterprises at the thriving Fort Bonifacio Global City in Taguig.

Bayan in cooperation with inContact, presented at the launch the different product and services that prospective customers located in the area can subscribe to and avail of in order to sustain and help grow their businesses.

Representatives from 25 companies attended the product presentation last November 11 held at Murray’s New Orleans. Among those present were executives from B&M Global Services Manila, Dev’t Finance International, Inc., Cormant Technologies, Ericsson, Digital Media Exchange, Fujitsu, FPD Asia, Sony Phils., Inc., GN Solutions, Wrigley Philippines, Deutsche Knowledge Services, Jones Lang LaSalle and the Call Center Association of the Philippines (CCAP).

The program, which started off with a hearty lunch, was followed by a presentation on Bayan Business’ data transport, IP and managed service offerings.

Jon Arayata, Bayan Business Head, said Bayan is committed to providing the most reliable data services and connectivity for businesses and potential locators in Fort Bonifacio.

“High availability and reliability is our commitment to the quality of service from Bayan that our customers need and expect for their business grade services requirements,” Arayata said.

During the last two quarters of 2010, Bayan has installed three new POP (point-of-presence) builds in the Fort Bonifacio Global City in order to expand Bayan’s serviceable areas.

In the coming months (4th quarter 2010 and 1st quarter 2011), more POP builds will ready for service in the same area.

http://www.mb.com.ph/node/291122/bayan-bu


Enhanced by Zemanta

Thursday, September 9, 2010

Stock News 2010: SMDC eyes P5 billion from rights offer

Fort Bonifacio in Taguig CityImage via Wikipedia
MANILA, Philippines - SM Development Corp. (SMDC), the residential property arm of retail tycoon Henry Sy’s listed holding firm SM Investments Corp., will undertake a stock rights offering to shareholders to raise at least P5 billion.

In a disclosure to the Philippine Stock Exchange, SMDC said its board approved the issuance of 1.83 billion new shares to beef up its landbank and fund its projects. 

Shareholders can avail of one right for every three shares held as of a record date yet to be set by the company.

SMDC stocks closed at P7.26 each yesterday, slightly lower from Tuesday’s close of P7.30.

SMDC is planning to acquire properties in Cebu and Davao to tap a wider clientele base, particularly overseas Filipino workers (OFWs).

Its affiliate, SM Land, has offered nearly P48 billion to develop a 33.1-hectare lot south of Fort Bonifacio in Taguig City into a mixed-use complex. Under the government’s joint venture rules for such Swiss challenges, SMLI will bag the contract if it can match the highest counter-offer.

The property is composed of lands presently occupied in part by the Army Support Command (ASCom) and Special Services Unit (SSU) and in part by the Bonifacio Naval Station and Philippine Marine Corps of the Philippine Navy.

Under the Bonifacio South master plan for the lot, the area would be developed into a medium- to high-density residential and mixed use complex with a strong institutional component, and has a maximum allowable gross floor area of 1.355 million square meters.

Last May, SMDC raised P10 billion from the issuance of corporate notes, which was more than three times oversubscribed by domestic institutional investors.

In the first half of the year, SMDC said its net earnings rose 24 percent to P1.3 billion on higher sales from its condominium projects. Revenues jumped 77 percent to P4.1 billion while net recurring income from real estate operations grew 47 percent to P1.1 billion.

SMDC raised P12.4 billion from pre-selling activities during the period, mainly coming from the Princeton, Light, Jazz, Sun and Wind projects under the SM Residences brand.

As of end-June this year, SMDC had 13 residential projects in the market. The company launched its affordable housing brand, My Place, with its pilot project in South Triangle on Panay Avenue in Quezon City.

The new project, My Place South Triangle, involves four condominium towers offering a total of 3,000 units with sizes ranging from 20 sqm to 40 sqm. Slated for completion in the first half of 2013, the project is estimated to cost around P2 billion.

Donnabelle L. Gatdula
September 9, 2010


Enhanced by Zemanta

Thursday, August 19, 2010

Stock News 2010: EEI income up 6% in 1st half

SAN FRANCISCO - DECEMBER 22:  San Francisco De...Image by Getty Images via @daylifeMANILA, Philippines - Construction giant EEI Corp. said its net income went up six percent in the first half this year largely due to cost-containment measures and the significant decrease in interest expense.
In a financial report submitted to securities regulators, EEI said its net earnings rose to P308.56 million even as consolidated revenues fell six percent to P3.12 billion. Revenues from services also dropped 53 percent from P1.19 billion to P560 million.
Equity in earnings of associate and joint venture likewise plunged 61 percent to P120.62 million, contributing to the decline in revenues.
However, the lower contribution was tempered by the increase in revenue from construction contracts, rising 19 percent to P2.35 billion. Merchandise sales improved 13 percent to P143.06 million while real estate sales more than doubled to P71.9 million.
Interest income amounted to P30.7 million, down 16 percent from P36.42 million, owing to lower interest rate on dollar money market placements.
The company was able to contain its expenses, declining 12 percent to P2.94 billion. However, costs related to construction contracts increased nine percent to P1.89 billion.
During the period under review, EEI won a manpower supply contract for the Singapore Parallel Train Olefins Recovery Project for Shaw Stone & Webster Asia Inc., additional contract for NAIA Expressway and its related road project, package 4C Phase I for Department of Public Works and Highways (DPWH), the construction of the RCBC Savings Bank and Corporate Center in Fort Bonifacio, the construction of the Sun Residences of SM Development Corp. in Quezon City, the construction of the Phoenix semiconductor plant in Clark, Pampanga, and the atmospheric storage facilities for Petron Corp.
In addition, under a joint venture with Korea’s Hanjin Heavy Industries & Construction Co. Ltd., EEI is currently undertaking the P2.84-billion construction of Berth 6 of the Manila International Container Terminal for global port operator International Container Terminal Services Inc. EEI has a 30 percent stake in the joint venture.
Among the company’s overseas projects are the Inco Goro nickel mining project in New Caledonia, involving the commissioning and additional works for the nickel mining plant, and the $12-million pipe erection works of the inlet facilities covering electro-mechanical works for utilities, offsite and off-plot areas for the Qatargas 3 and 4 Onshore project for GAMA Qatar Co. WLL under the Chiyoda-Technip joint venture. These are expected to be completed towards the end of the current year.
Meanwhile, orders backlog from projects represents the value of workable production from ongoing contracts. As of end-June this year, EEI’s total domestic backlog had a net selling price of P6.42 billion, including the backlog of subsidiaries worth P412.42 million.
The backlog provided by the company’s overseas joint venture company, Al Rushaid Construction Co. (ARCC), as of the end of the first semester stood at P12.54 billion.
EEI had total consolidated assets of P8.95 billion as of June 30, 2010, registering a nine-percent growth from the end-2009 level of P8.18 billion.
The company remains optimistic about its prospects for the rest of the year as it continues to pursue new prospects for both local and foreign-based projects.
Zinnia B. Dela Peña
August 19, 2010 12:00AM
http://www.philstar.com/Article.aspx?articleId=603943&publicationSubCategoryId=66
Enhanced by Zemanta

Wednesday, August 18, 2010

Stock News 2010: EEI posts P136-million profit

LSD S-CurveImage by mindfrieze via FlickrLISTED construction firm EEI Corp. has posted relatively flat profit in the second quarter as a decline in service revenues tempered the double-digit growth of its main construction business.
In a filing, the Yuchengco-led firm said net income grew 1.3 percent to P136.32 million. The company said first-half net income grew 5.8 percent to P308.56 million.
Based on its financial statement, EEI’s revenues grew at a slower pace to P1.64 billion, from 1.69 billion the second quarter of 2009. First-half revenues likewise declined 5.71 percent to P3.12 billion from its year-ago level as the service income fell almost 53 percent.
Construction contracts, which accounted for 75 percent of revenues during the first semester, rose 19 percent to P2.35 billion. Costs were also contained as service revenues dropped EEI said.
EEI said it remains “confident” on its year-end targets. “The company continues to pursue new prospects for both local and foreign-based projects as there appears to be renewed opportunities in mining, power, and other industrial construction,” EEI said. The company expects growth will continue to come from projects in the Middle East.  
During the first semester, the company won contracts for an additional  project in Naia Expressway and its related road project, package 4C Phase I for Department of Public Works and Highways and the construction of the RCBC Savings Bank and Corporate Center in Fort Bonifacio.
It was also awarded the contract to build the Sun Residences of SM Development Corp. in Quezon City, the construction of the Phoenix Semiconductor Plant in Clark, Pampanga, and the atmospheric storage facilities for Petron Corp.
Miguel R. Camus
August 18, 2010 19:36
Enhanced by Zemanta

Monday, February 11, 2008

Stock News 2008: Property firm to launch new condominium project in Bonifacio Global City

Fort Bonifacio 5Image via WikipediaLISTED PROPERTY developer Robinsons Land Corp. is set to launch its fifth high-rise condominium project in the upscale Bonifacio Global City in Taguig within the next three months.
Mybelle V. Aragon-Gobio, Robinsons Land vice-president for business development, said the company is scheduled to unveil a twin-tower residential project by the second quarter of this year.
Frederick D. Go, Robinsons Land president and chief operating officer, told BusinessWorld in an interview Thursday night that the company envisions a "luxury" project, with units costing a minimum of P5 million each.
"It will be called St. Regis, a name synonymous to luxury and timeless elegance," Mr. Go said.
Last property with a view
He said St. Regis will be located at the vacant 9,118-square-meter lot located along the Millionaire’s row at the corner of McKinley Drive and Fifth Avenue, in Bonifacio Global City.
"It [the property] is seen as the last remaining premier lots that has superior vantage point in the whole Global City complex with a spectacular viewpoint of Manila Golf and Manila Polo Club," Mr. Go said.
Planned as the "lifestyle gateway" to Global City, Robinsons Land said the lot is composed of two mega-block lots — the first measuring 5,747 square meters, and the second block measuring 3,371 square meters.
Mr. Go however declined to say how much has the company allotted for the construction of St. Regis.
Robinsons Land, the real estate development arm of the family of taipan John Gokongwei, currently has three sold-out projects in Bonifacio Global City.
These are the 38-storey Fifth Avenue Place, the 43-storey Mckinley Park Residences and the 43-storey Fort Residences.
Since the projects are already sold-out, Ms. Aragon-Gobio said Robinsons Land has decided to begin preselling its forth project in Fort Bonifacio, the 49-storey The Trion Towers.
Tri-axial
Located in a 9,819-square-meter lot at 8th Avenue and McKinley Parkway, The Trion Towers is the first three-tower residential complex in Fort Bonifacio.
"This new icon of the city skyline boasts of an ingenious tri-axial design which allows all of the units to enjoy privacy, good quality daylight, natural ventilation and multiple views of the city," Ms. Aragon-Gobio said in an interview.
"The groundbreaking design, the buildings’ height, and the triangular formation of the towers all contribute to uniqueness and grandness that The Trion Towers embody, setting it apart from other residential developments," she added.
Ms. Aragon-Gobio said The Trion Towers features 2,146 condominium units with a selection of one-, two-, or three-bedroom units ranging from 37 square meters up to 118 square meters. The minimum unit cost is P3 million.
She said construction of the project is scheduled to be completed by 2011.
"One major design aspect is the introduction of buildings in a triangle formation, where each tower is linked by a bridgeway via a podium-like activity theme park — all buildings will be designed to fittingly embrace the ’central park’, fully maximizing the residential wellness, green-livability and value of the property," she said.
Robinsons Land is the real estate arm of JG Summit Holdings, Inc., one of the country’s largest conglomerates with interests in branded consumers foods, agro-industrial and commodity food products, textile, telecommunications, petrochemicals, air transportation and financial services.
Shares of Robinsons Land were unchanged at P14 each after last Friday’s trading.
Jeffrey O. Valisno
February 11, 2008
http://www.robinsonsoffices.com/jan-mar2008.html
Enhanced by Zemanta