We’re keeping you updated on the latest in the property industry as we bring you more Philippine real estate news. Last week, Sta. Lucia Land Inc. announced their plans to ramp up development of provincial tourism properties; SM Prime readies for a new president as Hans Sy retires; Robinsons is expanding the lot area of their Ilocos mall; Anchor Land will increase their spending this year by 30%; and Megaworld subsidiary Global-Estate Resorts, Inc. (GERI) is boosting its hotel portfolio with new properties in Boracay and Tagaytay.
Sta. Lucia to increase tourism offerings
In an effort to take advantage of the robust tourism industry, property developer Sta. Lucia Land announced recently plans to develop more golf courses, country clubs, and hotels all over the country. According to the developer, expansion plans will concentrate on locations outside Metro Manila, including Dagupan, the CALABARZON Region, Iloilo, Cebu, Palawan, General Santos City, and Davao. Aside from having 84 developments that occupy a total of 1,924 hectares, Sta. Lucia’s current projects include the acquisition of 36 properties in locations such as Batangas, Laguna, Palawan, and Zamboanga City, as well as joint venture agreements in various provinces.
Manila Standard Today; July 4, 2016
Hans Sy retires as SM Prime president
Business tycoon Hans Sy recently annunced his retirement as long-time SM Prime Holdings Inc. (SMPH) president, declaring current executive vice president Jeffrey Lim as his successor. According to SM Investments Corp. (SMIC) head of investor relations Cora Guidote, Sy’s “semi-retirement” is part of “succession planning” in the Sy family, and that Sy hopes to spend more time with his family and will be reducing his daily responsibilities. After serving as president for over 10 years, Sy will remain a director at SMPH and will continue to provide counsel to the management.
Philippine Daily Inquirer; July 5, 2016
Robinsons expands Ilocos mall
Robinsons Place Ilocos is expanding to include a lifestyle wing and business process outsourcing (BPO) offices, according to Gokongwei-led Robinsons Land Corp. (RLC). With the addition of a total land area of 53,600 sqm, the mall’s gross leasable area will increase by 95%. According to RLC president Frederick Go, the expansion will not only allow them to cater to more shoppers, but will also lead to the “’premiumization’ of consumers in the province.” To be called South Wing, the four-level additional building will reportedly offer more fashion shops, restaurants, and entertainment options at the first two floors, while the third and fourth floor will contain the BPO offices.
The Philippine Star; July 5, 2016
Anchor Land boosts 2016 capital to Php6.5B
In keeping with plans to build more residential projects and acquire properties, luxury developer Anchor Land Holdings, Inc. (ALHI) has increased its capital spending for 2016 to Php6.5 billion. According to the property developer, part of the 30% capital increase will be used to begin construction of Anchor Grandsuites and T. Alonzo Project Residential & Hotel Development in Binondo, Manila, and ALHI Corporate Center in Parañaque City. A portion of the capital will also be used to acquire properties what will be transformed into leasable residential buildings and other future projects. The construction of other residential projects and recurring income developments will also continue, AHLI said.
Business World; July 6, 2016
GERI to complete 5 hotels in Boracay, Tagaytay by 2019
Andrew Tan-led Megaworld Corporation’s tourism and leisure township development arm Global-Estate Resorts, Inc. (GERI) plans to complete five hotels located in Boracay and Tagaytay by 2019, increasing their hotel portfolio by 1,850 rooms in the next three years. In the 150-hectare township Boracay Newcoast, Fairways and Bluewater is already fully operational, while the Savoy Hotel Boracay, Belmont Hotel Boracay, and Chancellor Hotel Boracay will be finished in 2016, 2018, and 2019, respectively. In the 1,200-hectare Twin Lakes Tagaytay, the Twin Lakes Hotel will be completed next year. GERI will be allocating Php10 billion to complete said projects.
MyProperty.ph; July 8, 2016