Philippine Real Estate

Philippine Tourism – Real Estate link cited to propel economy

A synergy between the tourism and the real estate industries will secure the country’s status as Southeast Asia’s retirement haven and create new jobs for the Filipinos, according to Vice President Jejomar Binay.

“These two tightly linked industries offer immense opportunities in terms of investments and jobs,” Binay said in his message to participants of the 20th Chamber of Real Estate and Builders Associations (CREBA) National Convention at the Marriott Hotel in Pasay City.

He said efforts should be made to bolster infrastructure capacity, accessibility, transportation, quality of facilities and the availability of support services for safety and security to secure the country’s status as the “Retirement Haven of Southeast Asia.”

He also said that the merging of tourism and real estate development would mean more permanent jobs for Filipino workers. Read more…

SMDC tops Metro Manila Real Estate developers

SMDC was recently cited as the largest residential developer in Metro Manila in terms of number of units sold and value of sales in the first half of 2011. From Metro Manila Supermalls to Hotels and now SM Group is now dominating the Real Estate business in the country.

Among the 90 Real Estate developers in Metro Manila, SMDC emerged as the top real estate firm. SMDC was also recognized by the property research specialist Colliers International Philippines as the leading real estate developer in the last two years.

The SM real estate arm got 22 percent market share and sold 4,117 residential units worth P9 billion during the six-month period.

Condominium sales also increased exceeding the over 10,000 units sold last year making SMDC the real estate developer in the country to beat.

Sta. Lucia’s South Pacific Golf and Leisure Estates abloom in Davao City

A wave of development may come upon the quiet shores of an unspoiled land like Davao, but natural beauty does not need to be compromised for the sake of progress.

This is being done by top real estate firm Sta. Lucia in the South Pacific Golf and Leisure Estates —- the company’s sprawling development in Davao City.

Touted to be one of the future cities in Asia, South Pacific is a picturesque community which is a marriage between two formidable parties — Sta. Lucia and a premier city in Mindanao.

“South Pacific echoes the very beauty of Davao City,” said Liezel Tuason-Magpoc, vice president for sales and marketing of Sta. Lucia’s marketing arm, Orchard Property Marketing Corporation (OPMC.)

“It features the most enticing qualities of the area coupled with the modern amenities and conveniences Sta. Lucia has been known to provide,” she added. Read more…

The Point Residences : Poro Point Real Estate

THE POINT RESIDENCES is an exclusive residential, leisure and wellness community within Thunderbird Resorts’ gated premises in Poro Point, Freeport Zone, San Fernando, La Union.

Following the resort’s Santorini-inspired design and architecture, THE POINT offers amenities that will help residents achieve a holistic lifestyle whether it is for personal leisurely space or recreational family living.

The purchase of lots in THE POINT comes with free membership shares to The Cliffs Golf Course and Beach Club subject to activation fees, while giving access to Thunderbird Resorts Poro Point’s world-class leisure facilities – plus privileges and discounts at the Hotel and F&B outlets.

Serving as an activity hub as well for residents, THE POINT will include facilities and amenities such as: a salon and spa, fitness center, commercial center, clubhouse, kid’s pavilion, basketball and tennis courts, jogging path, and swimming pools. Read more…

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…

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…