Investing Stocks in Philippines: trion towers

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Sunday, February 17, 2008

Stock News 2008: Robinsons Land to sell P1.5-B receivables

Image by mheisel via FlickrRobinsons Land Corp. (RLC), the property arm of Gokongwei flagship JG Summit Holdings Inc., has entered into an agreement with Home Funding Inc. (HFI) for the sale of up to P1.5 billion worth of receivables.
HFI is a special purpose company formed pursuant to the Securitization Act of 2004.
In a disclosure to the Philippine Stock Exchange, RLC said the receivables, will come from certain contracts to sell with the company’s buyers for securitization.
The agreement effectively provides covered buyers with an additional option for long-term financing on their condominium purchase.
The assignment of receivables will be implemented in several tranches subject to certain conditions, including the approval by the Securities and Exchange Commission of the securitization plan, RLC said.
Securitization is a financial transaction in which assets are pooled and securities representing interests in the pool are issued. Assets that can be securitized include auto loans, student loans, mortgages, credit card receivables, lease payments, accounts receivables and corporate or sovereign debt.
In a typical arrangement, the owner or originator of assets sells those assets to a special purpose vehicle (SPV). This may be a corporation or some form of partnership established specifically to facilitate the securitization. It may hold the assets or collateral on its balance sheet or place them in a separate trust. In either case, it sells bonds to investors, the proceeds of which will be used to pay the originator for the assets.
RLC earlier forged a strategic alliance with JP Morgan Chase Bank NA to tap the cash management services of the New York-listed global financial services company.
According to RLC, the increased efficiency to be brought about by JP Morgan’s cash management services will expedite clearing periods for international checks, resulting in much-quicker turnaround time and convenience for the property firm’s growing number of buyers based in the US, Europe and Asia.
RLC has earmarked P10 billion for its capital expenditures this year which include the construction of six new malls, new office buildings and residential subdivisions.
Its latest project within Bonifacio Global City is Trion Towers, a three-tower, high-rise condominium project which would rise on a one-hectare property at the corner of McKinley Parkway and 8th Avenue. Each tower would have 49 stories and house 700 residential units.
Construction of the project will start this year and is expected to be completed in three years.
RLC would launch another high-rise residential project geared towards the upper income market in a one-hectare lot near Forbes Park.
Zinnia B. Dela Peña
February 17, 2008

http://www.robinsonsoffices.com/jan-mar2008.html

Monday, February 11, 2008

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

Image 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

Saturday, October 27, 2007

Stock News 2010: Robinsons Land Purchases 5-hectare Property in Cebu for Its First High-end Leisure Community

Image via WikipediaRobinsons Land Corporation expands its robust property portfolio across the country as it disclosed plans to develop the first master-planned condo-resort community in Mactan, Cebu.
The country’s second largest diversified real estate company recently acquired a prime 5-hectare property with a 170-meter beachfront in Punta Engaño district in Mactan, Cebu. It shall be designed to be the first leisure community development of Robinsons Land.
Tourism and business hub of the South
Cebu’s tourism potential and its being the investors’ preferred headquarters in Southern Philippines add to Robinsons Land’s high hopes for its new project and the region itself.
The historic province of Cebu, touted as the gateway to two-thirds of the country’s major islands, has been recording upbeat tourism figures lately. Total foreign arrivals and domestic travels in the first half of the year show substantial growth of 20%, as against last year’s records for the same period. The first six months of the year saw Koreans topping the island’s foreign guest list, followed by the Japanese and the Americans.
Similarly, the local government has recognized Cebu’s tourism potential and has been actively formulating marketing strategies to achieve targets for its 5-year tourism plan, such as tourism missions in Europe. It is also counting on the emerging markets of China, Russia, India, and fellow ASEAN countries to boost its foreign arrivals.
Cebu has also been regarded as a premier business destination in the South, having been part of the Philippine Cyber Corridor masterplan that runs through Baguio, Manila, and Davao. The said vision crafted by the national government aimed to boost telecommunications and technology, and included empowering regions to provide information technology (IT)-related services. Multinational information technology firms and contact centers have likewise found their new homes in Cebu in the recent years, thereby attracting talents also from its neighboring provinces. The development of Cebu’s business parks also serves as a testament to the business-friendly environment of Cebu.
Robinsons Land’s top executives are confident that the organization is ready to maximize the company’s expertise in developing mixed-use communities in promising areas outside Metro Manila. The abounding possibilities in Cebu affirm Robinsons Land’s move to explore opportunities in the Queen City of the South.
Homegrown business
Mixed-use communities, composed of hospitality and residential developments, have been Robinsons Land’s strength. President and Chief Operating Officer Frederick D. Go notes, “Robinsons Land Corporation has gained its formidable status and esteemed name with its strategically located residential condominiums, hotels, and commercial centers that are of world-class quality. Having accomplished this feat, we will now build a landmark five-star condo-resort project in Cebu.”
Go cites that Robinsons Land’s mother company, JG Summit Holdings Inc., traces its roots to Cebu, as founder John Gokongwei, Jr. began his post-war trading business in his hometown. The humble trading activity ventured into by the young Gokongwei in local sailboats over five decades ago has paved the way for the birth of J.G. Summit Holdings Inc., which is now among the Philippines’ largest conglomerates. It holds diverse interests in branded consumer foods, agro-industrial and commodity food products, textile, telecommunications, petrochemicals, air transportation and financial services. This same entrepreneurial spirit of Gokongwei has eventually led him to be one of the country’s only seven billionaires.
Today, Robinsons Land Corporation is among the most profitable businesses of J.G. Summit Holdings Inc., with its 18 malls, 23 residential subdivisions, 22 residential condominiums, 6 office buildings and 4 hotels. It has pioneered several developments in key cities, where it launched its other notable projects such as Galleria Regency, East of Galleria, The Trion Towers, Fifth Avenue Place, Adriatico Residences, and One Gateway Place. With the timely completion and delivery of its residential condominium projects, Robinsons Land Corporation remains today’s property developer of choice of investors and end-users, both local and foreign alike. On the other hand, its status as the top office landlord of business process outsourcers and multinational firms is credited to its development of centrally located office buildings across the metropolis.
Philippine Daily Inquirer
October 27, 2007
http://www.robinsonsoffices.com/Oct-dec2007.html