Investment News

Megaworld Corporation allots P17B for 2010 capital expenditures

Property developer Megaworld Corporation, in a disclosure to the Philippine Stock Exchange, announced that it has P17 billion for its capital expenditures this 2010.

In the same disclosure, the real estate firm also reported that its group of companies has P15 billion worth of real estate projects under the Megaworld, Empire East and Suntrust brands in the first five months of 2010.

Megaworld Corporation also generated P11.4 billion during the five-month period from strong sales of residential projects in its Eastwood City, McKinley Hill and Newport City townships, along with Manhattan Garden City.

While sister companies, Empire East and Suntrust, posted combined sales of P3.6 billion during the same period for their ongoing housing projects.

Megaworld is a pioneering developer of integrated live-work-play-learn communities in the country.

To date, it has six township developments under way in the most strategic locations in Metro Manila, in addition to several luxury residential condominium projects in the heart of the Makati central business district. Read more…

Home Affordability Program Really Delivers

There appears to become severe doubts within the minds of numerous persons whether the home affordability will really be able to provide what it guarantees. They are not incorrect in considering so, simply because there are plenty of loose ends lying around that are very tough to tie up. Let’s consider a appear and understand a few of the major problems.

Essentially the house affordability plan was produced with an aim to permit the consumer to function directly using the companies that experienced supplied them the mortgage in order to obtain into an alteration of their existing mortgage check.The intention from the program was to create the alteration in this kind of a manner so that the customer could make obligations that were affordable to them.

The amount of the check how the consumer needs to spend is based upon the GEC ( common economic principle) that the quantity of mortgage check is 1/3rd of the earnings from the homeowner. This really is proving to become a huge stumbling block simply because the principle quantity owned by the homeowners to the mortgage company is way as well big to be decreased to 1/3rd from the homeowner’s income. Apart from this the remaining 2/3rd is proving to become too little for the homeowner important expenditures. If this is not enough, the assurances given by the mortgage organization is a lot more often than not, not true. Read more…

New Development Of Condominiums In Canada Is Good For Values

The international economic crisis has impacted the market in condominium construction more strongly than any other part of the real estate market in Canada. While there have been an increasing number of house starts in rural regions, and a strong, continuous increase in the construction of single family homes, there has been a marked reduction in the number of starts of condominiums and apartments in cities all over Canada like  downtown Toronto condos. 

This decline in construction of multiple occupancy buildings has negatively affected the overall average for house starts in March, translating in a decline of 1.5% in all kinds of house starts, across the country. This was the first reduction in house starts in 2010. There was a growth of 7.5 percent during January and 6 percent over February. March saw 197,300 house starts, compared with January’s 189,000 and February’s 200,400. 

It is in urban areas that the decline in house starts has been most severe. Starts have increased in a few rural areas of Canada, despite the overall drop in housing starts across the nation as a whole. There was a slide of 4.2 percent in urban starts in March, while rural starts climbed from February’s 17,600 to a total of 22,100 in March. This reflects the adjustment in starts of multiple family dwellings, which are usually built within a city or on its outskirts. Single family homes are the preference in rural regions.  Read more…

The Prospects for Houses for Sale in Charlotte North Carolina Can be Astonishingly Ongoing

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Highland Prime Inc. Philippines reports real estate sales of P1.1B for 2009

Highland Prime, Inc. (HPI), in its disclosure to the Philippine Stock Exchange, announced that it has netted P1.1 billion in real estate sales for 2009, or 32 percent higher than the figures posted in 2008.

The company attributed its strong growth to the completion of Hillside and Woodridge Place, units of which are 88 percent and 96 percent sold respectively, as of end 2009.

Pueblo Real, which is 28 percent sold and 67 percent complete also contributed to revenues.

Gross profit of P251.2 million is 24 percent lower than that of last year as cost of sales rose by 68 percent to P846.7 million considering that HPI has been selling more condominium units than houses and lots.

Net income after tax amounted to P24.0 million, lower than the previous year’s P183.7 million resulting mainly from the adjustment to cost of land in its Tagaytay property and one-time expenses related to the acquisition of its Canlubang property. Read more…

Vista Land & Lifescapes, Inc reports core net income of P2.6B for 2009

Property developer Vista Land & Lifescapes, Inc., in its disclosure to the Philippine Stock Exchange, reported that its audited financial core net income for 2009 amounted to P2.6 billion.

It also reported that its recorded revenue from real estate sales of P9.6 billion in 2009.

“2009, as expected, was a tough year, but in spite of a very challenging market environment, we were able to achieve our financial targets. The company’s strategy was to continue to focus on the affordable and low-end market segments, resulting in particularly strong growth from Camella Homes and Communities Philippines,” Vista Land senior vice president for finance Ricardo B. Tan, Jr. said.

Vista Land is the holding company of five business units, Brittany, Crown Asia, Camella Homes, Communities Philippines and Vista Residences. Read more…