Be updated with the current events in the real estate industry. MyProperty.ph has selected five of the top real estate stories this week to keep you in the loop of the property sector’s developments.
This week the government is reported to have released an almost P300 million budget for the relocation of informal settlers to give way to the development of North Triangle in Quezon City. The BCDA continues to roll out bids for the development of Clark Green City. Its latest project: a railway that connects the city all the way to Metro Manila. And Pinnacle Real Estate, a property consulting firm, reports on the expansion and diversification of real estate offerings in the industry as the ASEAN economic integration nears.
Megaworld leisure’s profit jumps by 151% in 2014
The tourism estate developer subsidiary of Megaworld, Global-Estate Resorts Inc. disclosed a huge jump in profit for the year 2014. GERI reported that the 151% increase from P341 million in 2013 to P857 million in the previous year is due to robust residential sales and a one-time gain.
Philstar; April 10, 2015
Expansions and preparations for the AEC abound
According to Pinnacle Real Estate, many of the country’s top real estate developers are expanding and diversifying their investments in preparation for the expected influx of Association of the Southeast Asian Nation (ASEAN) tourists and investors due to the ASEAN economic integration.
MyProperty.ph; April 10, 2015
BCDA to bid out railway project for Clark Green City
Bases Conversion and Development Authority (BCDA) is planning to bid out contracts for the construction of the Clark Rail Transit System, which will run from Manila to Clark Green City. The package is expected to be prepared by June of this year.
Inquirer; April 10, 2015
Government to spend P286.7M for relocation project
The National Housing Authority (NHA) has received P286.7 million from the Department of Budget and Management for the relocation of informal settlers in North Triangle, Quezon City, which is pegged to be one of Metro Manila’s newest central business districts. The informal settler families will be relocated, tentatively, to Bagumbong, Caloocan City.
Rappler; April 9, 2015
Experts are not expecting overspill in the office sector
Industry experts and consultants report that there is no reason to expect a glut in the office sector of the country with the business process outsourcing (BPO) industry remaining to be a huge driver of demand.
Inquirer; April 8, 2015