Philippine Real Estate

Vista Land and Lifescapes Inc. to invest P9.5B in Northern Mindanao

Economic boom continues to spur in Northern Mindanao frontier city of Cagayan de Oro and other areas in the region as a housing firm is set to construct P9.5-billion housing units.

Vista Land and Lifescapes Inc. (VALI) is also planning to establish real estate and other housing units at various areas in Northern Mindanao, particularly in the key cities of the region.

VALI’s investment in the region is expected to bring more tax revenues, income and employment generation to this already progressing region, especially in this region’s capital city. Read more…

CenterPoint Properties Signs a Build-to-Suit for Lease With Stepan Company

CenterPoint Properties announced today that Stepan Company has signed a build-to-suit lease for a 217,712 square foot building on a 16.48-acre site in Joliet, IL. The building will be developed by CenterPoint Properties.

Stepan Company is a leading producer of specialty and intermediate chemicals used in household, industrial, personal care, agricultural, food and insulation related products. Headquartered in Northfield, Illinois, Stepan currently has over 1500 employees globally and utilizes a network of modern production facilities located in North and South America, Europe, China and the Philippines. Stepan is a publicly traded company with common and convertible preferred stocks traded on the New York and Chicago Stock Exchanges under the symbols SCL and SCLPR. For more information, visit Stepan’s website at http://www.stepan.com.

“We are pleased that the Stepan Company chose to locate within CIC-Joliet and work with CenterPoint Properties. The transportation savings and flexibility realized through the intermodal location will benefit Stepan and their global supply chain now and in the future,” said Michael Murphy, CenterPoint Properties.

“The transportation advantages of the development and the flexibility of CenterPoint on the structuring of the transaction made this work for both parties,” said Dan Leahy, NAI Hiffman.

Lancaster Cebu Airport Transit Condo Hotel rates announced

Available immediately, Lancaster Cebu Condotel is offering accommodation on a minimum stay of four hours at the rate of Pesos: 799.00 [USD 16.00] or six hours at the rate of Pesos: 1,080.00 [USD 22.00] An additional hour will be charged at Pesos: 200.00 [USD 4.00] per hour up to a maximum of eight hours per stay. Check-in and shuttle bus to the hotel is available 24 hours a day.

Beth Collingz, overseas sales director PLC International and lead marketing partners for the Lancaster brand of Condo Hotels in the Philippines said “We are constantly looking for ways to improve our products and services to provide more options for our guests. We realize how tiring and stressful travelling can be, especially with long transit hours.

The hotel is now ready to escalate our service beyond any regular mid-scale hotel and exhibit what an airport hotel really is. Our guests can be assured that they will continue to receive the same level of services regardless of the length of their stay”

Lancaster Cebu Condo Hotel, located a mere 3 minutes from Mactan-Cebu International Airport, services domestic flights from most major cities within the Philippines including Philippine Airlines, PAL Express, Cebu Pacific, Zest Air and Air Philippines to and from Manila, Clark-Angeles City, Legaspi City, Bacolod, Iloilo, Roxas City, Tacloban, Siargao, Kalibo, Cagayan D’Oro City, Surigao, Butuan, Cotobato, Davao City, General Santos, Ozamis City, Zamboanga City and Philippine Airlines, Cathay Pacific, Asiana Airlines, Malaysian Airlines, Singapore Airlines, Korean Airlines, Qatar Airlines and Silkair international flights to and from Amsterdam, Frankfurt, Bangkok, Macau, Singapore, Jakarta, Hong Kong, Tokyo, Kota Kinabalu, Seoul, Pusan and Doha, Qatar. Philippine Airlines will soon commence direct San Francisco – Cebu flights. There are also chartered flights from Inchon, Taipei, Kansai, Nagoya and Kaohsiung that arrive on a regular basis. Read more…

Philippine Property Show in Abu Dhabi features prime Philippine Real Estate Properties

Philippine Property Show currently showcases Philippines best Real Estate Properties, The Real Estate Show will run from October 2-3 at the Abu Dhabi Chamber of Commerce and Industry conference hall.

The real estate show showcases various condominiums and house and lot projects by top property developers in the Philippines, including Megaworld, SM Development Corporation, AboitizLand, AyalaLand, Alveo, Avida and Hamilo Coast.

Fully Furnished residential condominiums are also being showcased like the Grass Residence at SM North Edsa, Sea Residence at the Mall of Asia Complex, Morgan Suites and Venice at Mckinley Hilll Village in Bonifacio Global City (Fort Bonifacio) and Suntrust Parkview in Central Manila.

Last years real estate show was held in Dubai in September last year along with a series of informative seminars which was conducted by Philippine property experts and representatives of major real estate developers.

Philippine Real estate loans up 23% in first half of 2009

Local banks in the Philippines reports that real estate loans grew by 23% for the first half of 2009.

Real Estate Loans

According to report the increase was boosted by loans extended in the period despite the tightening of lending standards for residential and commercial borrowers, central bank data showed.

Philippines’ Central Bank showed that total exposure of universal, commercial and trift banks to the real estate sector was P377.8 billion at the end of June.

This was a 2.8% expansion from the P367.6 billion recorded at the end of March, and a 23.3% growth over the P306.3 billion in June of last year.

Loans recorded by banks was composed of loans for commercial and residential purposes and investment in securities that are sold and issued by local real estate firms.

Typhoon Ondoy damaged real estate to dampen property market

The damage to real estates caused by Typhoon Ondoy in Metro Manila and nearby areas has a dampening effect to some extent on investors in the property market in the affected areas.

Jaime Ysmael, senior vice-president and chief finance officer of Ayala Land Inc. (ALI), made this assessment on the impact of the flooding in those areas on the local property market.

“It will dampen the interest of investors which is a natural reaction but we cannot be sure it is a permanent thing because people forget,” Ysmael said. Read more…