More Philippine real estate news are coming your way as we update you on what happened from March 27 to April 2. Last week, Vista Land announced how they will be allotting their 2016 capital expenditure of Php36 billion, Bicol tourism will be boosted by a Php7 billion project, the Bangko Sentral ng Pilipinas (BSP) revealed an increase in local banks’ exposure to the real estate sector, and more.
Vista Land announces Php36B capex for 2016
Manny Villar–led property brand Vista Land recently announced its plan to spend a record Php36.06 billion for project constructs and land procurement and development for 2016. From the said amount, which is 14.5 percent higher than last year’s actual spending of Php31.49 billion, Php26.7 billion will be allotted for construction, Php6.3 billion for lot developments, and Php3 billion for land acquisitions. The company also said it expects its newly acquired shopping mall unit, Starmalls Inc., to expand its leasable area to 850,000 sqm. The expansion, Vista Land explained, will lead to Starmall accounting for 25 percent of the developer’s net income for the next two years.
Manila Standard; March 27, 2016
Php7B luxury hideaway to rise in Bicol
Bicol will soon be the site of a luxury getaway with the construction of Ūgen, a Php7 billion project by world-class real estate developer Blue Development Inc. Envisioned as an exclusive hideaway in the Bicol province, Ūgen will provide guests with access various tourist attraction, such as a marine sanctuary located in Sorsogon, the whale sharks of Donsol, and the lagoon of Mount Bulusan. Accroding to development director and Blue Development Inc. concurrent CEO Andrew Sparrow, Ūgen will be in the same league as Amanpulo in Palawan, and will benchmark its standard to world-class resorts like the Mystic in the Caribbean and Kiri in Thailand. Already in the works are 20 resort villas priced between Php42 million to Php160 million each. Ūgen will also feature a beach club with a boardwalk, a restaurant, and a café.
Business Mirror; March 29, 2016
Arca South Estate primed as next premier lifestyle and business hub with terminal project
Ayala Land recently signed a 35-year concession agreement with the Department of Transportation and Communication to build and operate the South Integrated Transport System (ITS). To be constructed on a five-hectare lot next to the developer’s 74-hectare business and lifestyle district Arca South, the ITS will facilitate organized daily transfers of around 4,000 buses and 160,000 passengers. According to Arca South, people who will use the ITS will also have access to Arca’s amenities, which include an Ayala Mall lifestyle complex, a corporate center, a Seda Hotel, and a Qualimed Hospital. Construction will begin later this year and will be completed by 2018.
The Manila Times; March 29, 2016
Bank loans for real estate up 25% in2015
Data released by the Bangko Sentral ng Pilipinas (BSP) revealed that universal, commercial, and thrift banks in the country showed growth in their combined exposure to the property industry, with real estate loans increasing from Php1.221 trillion in 2014 to Php1.516 trillion last year. The 25 percent increase, said BSP, was largely driven by an increase in real estate loans from Php1.043 trillion a year ago to Php1.306 trillion. Property developers increased their debt from Php643.41 billion to Php860.493 billion, while home-buyers’ loans showed an 11.5-percent increase to Php446.121 billion last year.
Business World; March 30, 2016
Fil-Taiwanese firm inks Php350M deal to expand in Clark
MSK Group Work Clark Inc., a Filipino-Taiwanese construction company, has signed a lease agreement with Clark Development Corp. (CDC) to invest Php350 million to grow its business within the Clark Freeport Zone. MSK Group, which has been a registered locator in Clark since 2012, will be developing a 3.19-hectare property in the Freeport for structures to be subleased to manufacturing companies as warehouses and factories. A likely client to lease a space from MSK is Coronation Premium Manufacturing Inc., one of the biggest manufacturers of top brand shoes in the world. MSK currently has 150 employees, and CPMI has 1,000 workers and is looking to double its manpower in the next five years.
The Daily Tribune; March 31, 2016