Three more real estate developers announce their plans in increasing their portfolio, Government fails to auction off properties worth P1.7 billion, and more real estate stories
Be in the loop with the developments of the country’s real estate industry. We have handpicked five of the top real estate stories this week to keep you updated with the Philippines’ property sector.
This week JG Summit reports hitting a net income of P18.2 B by the end of 2014 with Robinsons Land Corp., posting a 5.4-percent growth to P17.43, while top real estate developers Vista Land, Ayala Land, and SM Prime announce more of their plans for expansion in residential and commercial real estate.
JG Summit reports net income of P18.2 B
Gokongwei family’s JG Summit Holdings Inc., reported profits rose by 75% in 2014 due to higher sales from its core real estate, food and beverage units, and investments in telecommunications and energy distribution. In particular, Robinsons Land Corp., posted a 5.4-percent growth to P17.43 billion due to a rise in rental revenues.
Inquirer; April 17, 2015
Camella launches 5 projects in Mega Manila
Vista Land and Lifescapes Inc.’s Camella will be spending P5.6 billion to increase its portfolio in Mega Manila with 5 new projects. The horizontal residential developments will be built in Valenzuela City, Daang Hari, Cavite, and Antipolo.
MyProperty; April 14, 2015
SM Prime to build mall expansions in Zamboanga and Butuan
SM Prime Holdings Inc. has announced that it has plans to expand its commercial real estate in Mindanao. SM Prime said that the island’s strong economic potential is a factor in the firm’s decision to increase its commercial portfolio in Mindanao. Two areas eyed by SM Prime are Zamboanga and Butuan.
ABS-CBN; April 16, 2015
Ayala eyes township projects in 25 cities
Ayala Land has targeted to 25 cities to build new township projects within the next three to five years. The plan is to offset a slump in condominium sales in Metro Manila and to capitalize in the widening economic growth in the country.
GMA News; April 14, 2015
Properties in Makati and Quezon City, failed to be auctioned off
The Privatization and Management Office (PMO) was not able to auction off five properties located in Makati and Quezon City. Alternative plans such as negotiated bids or government-to-government transactions, are now being considered to dispose of the five properties which amounts to almost P1.7 billion.
Inquirer; April 17, 2015