here’s some select articles about Philippine Real Estate and our economy from various newspaper correspondents that matters for your reference.
from Philippine Daily Inquirer’s correspondent, Doris Dumlao-Abadilla :
Ayala Land acquires 51% of Tutuban Center owner
ALI’s entry in Popi is seen to provide the financial muscle to redevelop Tutuban Center and double its retail space to ride on robust consumer spending in the country.
Based on last year’s estimates, Popi earns about P400 million annually in rental income from Tutuban Center, which has about 60,000 square meters in gross leasable area, offering various concepts from wholesale and bargain stalls to regular retail and food outlets.
Popi expects to unlock more recurring earnings from the doubling of the retail space in the shopping complex. At the same time, it sees room to grow Tutuban Center given that it has so far built only on an eight-hectare portion of the 20-hectare property.
In March last year, the Philippine National Railways (PNR) turned over to Popi’s indirect subsidiary Tutuban Properties Inc. (TPI) about three hectares of leased property along Tayuman St. in June last year, PNR also turned over 5.8 hectares along Dagupan St. The project is expected to be integrated with the North-South railway project of the Department of Transportation and Communications (DOTC) and PNR.
Aside from the Divisoria property, Popi has a beachfront in San Vicente, Palawan. Popi likewise has a 10-percent stake in Cyber Bay Corp., claimant to reimbursement expenses from the government in relation to the aborted 750-hectare development project along Manila Bay.
Formerly known as Guoco Holdings (Philippines) Inc., Popi has interests in real estate and property development, nonlife insurance and other allied services. The company has a market capitalization of about P5.2 billion, less than what ALI has agreed to pay for a 51-percent stake in the company.
from Business World online correspondent, Melissa Luz T. Lopez :
PHL economy still in ‘good shape’
THE PHILIPPINES remains in an economic “upswing” that can spur further growth on the back of sustained investor confidence, with room to push locally driven expansion still seen, a recent report by the Asianomics Group Ltd. said
Supreme Court rules with finality BCDA takes possession of NOVAI property
MANILA, Philippines – The Bases Conversion Development Authority (BCDA) said the Supreme Court has denied with finality a motion for reconsideration filed by the Navy Officers’ Village Association Inc. (NOVAI) for the ownership of a 47-hectare property in Fort Bonifacio.
BCDA president and CEO Arnel Paciano Casanova lauded the SC for the favorable ruling which he said would benefit the Armed Forces of the Philippines (AFP) and the national government.
In a two-page notice, BCDA said the SC Second Division denied a motion for reconsideration by NOVAI of an earlier ruling decision allowing BCDA to take possession of the property.
“With the Supreme Court ruling, the BCDA can now proceed with the disposal of the 47-hectare property and generate billions of pesos to fund the AFP modernization program and bankroll government programs and projects,” Casanova said.
According to Casanova, the 475,009 square-meter NOVAI property is now estimated to be worth more than P47 billion based on the current selling price of approximately P100,000 per square-meter.
The NOVAI is a group of retired military officers which claimed ownership of the disputed property located inside the former Fort Andres Bonifacio Military Reservation.
“Rampant land grabbing where officers are involved affects the morale of our soldiers, and eventually weakens our Armed Forces,” Casanova said.
“As early as 2004 and as general counsel then, I made a commitment to the Feliciano Commission that I will do my best to pursue the cases against Southside Homeowners Association (SHAI) and NOVAI in spite of some generals who kept on dissuading us from doing so,” Casanova added, referring to the commission’s report that recommended legal action for the recovery of the JUSMAG and NOVAI properties.
The Feliciano Commission was a fact-finding commission created to address the concerns of soldiers involved in the July 2003 Oakwood mutiny.
The BCDA eventually won in September 2006 in its petition-in-intervention with the SC over a case against military officers occupying quarters at the SHAI area inside JUSMAG in Fort Bonifacio.
The former JUSMAG area has since been developed and is now known as McKinley West.
Casanova said winning both the NOVAI and SHAI cases put closure to more than a decade of legal battles to protect the rights and interest of the Filipino soldier against a few retired generals and their spouses who tried to get government land worth billions of pesos and claim it as their own.
BCDA remittances are used to help fund the national government’s development projects including the modernization of the AFP to improve the country’s internal security and external defense.
From 1993 to 2015, the BCDA has raised a total of P28.5 billion for the AFP from the disposition of former Metro Manila military camps through sale, lease and joint-venture developments.
from Manila Bulletin :
Promoting Professionalism in the Philippine Real Estate Industry
Filipinos have been used to buying real estate the traditional way, relying on referrals and word-of-mouth. But there is another way and that is the right way.
The current boom in the Philippine real estate market has brought fears of a property bubble.
In the second quarter of 2015, the real estate sector in the Philippines posted a growth of 11 percent. Global data also shows robust growth. This means the potential for sales is immense.
But according to international property services company Colliers, total unsold condominium units in Metro Manila has averaged 75,000 over the last three years. This is twice the normal supply level of 35,000 to 40,000.
Because of this and other potential issues, there is a need to professionalize buying and selling. A real estate company with an excellent reputation and global track record is the answer. RE/MAX assists buyers and sellers in their real estate transactions in the best way possible, eliminating the fears and apprehensions of fraud.
The company goes beyond just buying and selling because its agents understand the market and how it works. They perform their job honestly, fairly and with accountability. The agents will also give buyers access to its global listings of residential, commercial and luxury properties.
The RE/MAX name gives the franchisee a brand with credibility. It is a Denver-based company founded by Dave and Gail Liniger in 1973 and is the top global real estate franchise in the world. It is also the top real estate franchise in Entrepreneur Magazine’s Franchise 500 and the leading real estate franchise on Franchise Times’ Top 200. Last year, Entrepreneur Magazine named it the #12 Global Franchise.
When you get a franchise, you already have a winning formula that has succeeded in the United States and other countries. The brand is known for agents who produce outstanding results. It gives franchisees all the tools to convey to customers what it has to offer.
If you are a franchisee, you will be able to attract agents who can successfully convert leads to sales. The affiliation also provides instant recognition.
“What we offer realty agents in the world is the best training possible, advertising support and branding the RE/MAX way. We offer technical tools to be able to serve the customer as best they can and give exceptional service to the clients. It is the best marketplace to list your properties,” said RE/MAX Philippines president Leonard Campos.
In the normal business model, brokers buy and sell real estate. The business model fosters relationships because franchisees and agents are trained to understand the needs of their clients. It also gets the best agents through the Power of Recruitment Tools and Support, an approach that targets and attracts winning professionals.
The company encourages franchisees and sales associates to go beyond dreaming of big sales and commissions and be entrepreneurs with limitless potential for progress. “Everybody wins” is something the company always tells its franchisees.
Nobody in the world sells more real estate than RE/MAX, thanks in part to the Power of Marketing Support which has a global reach that includes millions of buyers and potential agents worldwide. Franchisees also get first-rate marketing support from RE/MAX’s Power to Launch.
The Power of Business Development helps franchisees and sales associates with referrals with more than 100,000 agents in nearly 100 countries with over 7,000 offices The global Multiple Listing System also enables franchisees to network and promote their listings globally and do business with other associates worldwide.
The company’s developer partners in the Philippines include Federal Land, Grand Hyatt, Rockwell Land, Vista Land, Horizon Land, Megaworld, Filinvest Land and SMDC. Property portal partners include Property 24, Persquare, and Property Asia.
from Business World Online correpondent, Carmencita A. Carillo :
Duterte vetoes use plan
DAVAO CITY — Mayor Rodrigo R. Duterte has vetoed an ordinance removing the 10% green space requirement in horizontal residential projects inIn a Veto Message dated Feb. 19 and released yesterday, Mr. Duterte said the council’s amendment of the Comprehensive Land Use Plan was “vague and ambiguous, prejudicial to public interest, and an exercise of legislative power in ultra vires.”
Visit www.robertgsarmiento.org for blogs, news, case studies and property listings which you may find informative.
Subscribe to my daily postings by filling in your email address at the SUBSCRIBE section located at the mid right hand portion of the webpage of www.robertgsarmiento.org
Robert G. Sarmiento Properties
Professional Affiliation :
Real Estate Broker’s Association of the Philippines
President, Greenhills Chapter 2008, 2009
Philippine Association of Real Estate Brokers
San Juan Mandaluyong Chapter 1998, 1999
PRC # 6569
AIPO # 000897
02 5148481 ( direct line )
+ 632 5536051 ( trunkline )
+ 632 4781316 ( telefax )
+ 632 8561365 ( line 3 )
+ 632 8041701 ( line 4 )
+ 63 917 5364829 ( globe )
Email : [email protected]
Website : www.robertgsarmiento.org