SMIC reached a net worth of P28.4 B in 2014, Philippine real estate tycoons make it to Forbes' 2015 billionaires list, and more
Be updated with the news of the real estate industry. MyProperty.ph has chosen the top 5 stories of the industry this week to get you up to speed with the current events of the real estate sector.
This week Philippine real estate giants made it to Forbes’ Billionaires list of 2015, with Henry Sy topping the list. Relating to that, his SMIC reported a net income of P28.4 billion in 2014 due to the strong performance of its core units. Meanwhile, Filinvest and Ayala’s Alveo announced new residential offerings in 2015. Alveo will also be offering office units this year.
Filinvest to construct a midrise condo project in 2015
Filinvest Land Inc. is aiming to start the construction of a new midrise condominium in Davao City this year. According to Tristan Las Marias, Filinvest first vice president for Visayas and Mindanao, the midrise condo will be under the Oasis brand and will have resort type amenities and open spaces.
Sunstar; March 4, 2015
Ayala will be offering residential and office units valued a total of P40 B
Ayala’s Alveo Land will be bringing residential and office units worth a total of P40 billion this year due to resilient prospects for the real estate sector. According to Alveo Land president Robert Lao, the large demand they’ve observed would sustain growth of at least 20% for the company this year.
Inquirer; March 4, 2015
SM Investments Corporation nets P28.4B in 2014
Henry Sy’s SM Investments Corporation reported a net income of P28.4 billion last year. The posted figure was due to the strong performance of their banking, real estate, and retail units. In 2013, SMIC had a net income of P27.4 billion.
Rappler; March 5, 2015
2014 residential projects in Central Visayas worth P17 B
The total project cost of all residential developments in Central Visayas reportedly reached close to P17 billion in 2014. According to the Housing and Land Use Regulatory Board 7, the data was based on the 80 projects that were issued License to Sell by the HLURB in the same year. Most of the projects are located in the region of Cebu.
Sunstar; March 5, 2015
Real estate giants make it to Forbes’ Billionaires list in 2015
Most of the Philippine-based world billionaires are real estate tycoons. 8 out of 11 Philippine Billionaires have stakes in real estate. Retail and real estate magnate Henry Sy tops the Philippine list and is also part of the top 100 richest men in the world.
MyProperty.ph; March 6, 2015