Real Estate Investment

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…

Water crisis could affect real estate industry in Iloilo City

Outgoing city mayor Jerry Treñas admitted that the water crisis in Iloilo City could discourage national players in the real estate industry to invest here.

Mayor Treñas said that water service is one of the primary concerns of real estate developers. The investors could not afford to put up large housing communities in Iloilo City if there is not enough source of potable water, he said.

The mayor stressed that aside from the power, water is a major factor that real estate developers consider before investing in an area. Even if they could construct affordable housing units the main concern of the buyers is water accessibility.

Treñas said that he will work on this major problem of the city as one of his priority projects in congress. Treñas is set to take oath as congressman of Iloilo City on June 29.

Earlier, Iloilo Business Club (IBC) executive director Leah Lara said that there has been a surge of real estate investors in the region.

She added that land developers would find the city ideal since it has great tax incentives and the local government reaches out to the private sectors.

She also stressed that the local business community enjoys taxation incentives from the city government which real estate developers find very attractive.

But she said that a city with not enough water for its residents could dispel investors confidence in our economic capability.

Currently national real estate players and developers in Iloilo City includes the Avida Land Corp. of Ayala Land, HCBC Land Development Corp., EON Realty & Development Corp. and Philippine Diversified Developers Corp., among others.

Glen Rose Real Estate For Sale – Trying To Find The Perfect Residence Available For You

Obtaining Glen Rose property might be a demanding monetary and emotional issue. By nature, the actual method is not painless or just short-lived. In the first dwelling searching to closing the transaction, be positive you understand precisely what you are in for might help you hold your own sanity. But what can you know wherever to begin? To create positive you get the perfect house available for you, here are three concerns to continue to keep in mind when dwelling searching.

one. Write a spending budget. Above all, stay with it. The benefits of owning your first household can immediately turn irritating and worrisome in case your mortgage turns out to become a lot more than you are able to in fact manage. Bear in mind that home purchases are similar to a ladder, not necessarily everybody may find the money for their dream house the very first time close to. You might have to do the job as much as it with each and every pay for. Becoming” property poor” is no approach to are living your own life, therefore comprehend your own budget limits and stay within them.

a couple of. Pick your neighborhood. In the event the sky’s your limit, you are prone to appear at hundreds of residences without choosing one that in reality works with everything that you’re trying to find. By just restricting your search to just one or two specific locations, your research won’t be required to take as lengthy and it is easy to create a choice speedily. In case your objective is to obtain a house, there’s no sense in endlessly searching and agonizing over many hundreds of alternatives. 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…

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…

Why Investors Should Take Advantage Of A Strong Real Estate Outlook

In 2010, the Canadian real estate market sales rose noticeably. Investors recognized the 10 percent surge in Canadian housing sales as a indication of recovery in the market. Expert research indicates modest growth across the country. Vancouver and Toronto showed a significant climb in home sales with an surge of 20 percent.Since the recession, the housing

Canadians surging contribution in the home buying process during 2009. The earlier part of 2010 also displayed growth because of low mortgage rates and affordable prices. Expect increases in mortgage rates as home sales increase and the sector levels out in the coming months. Increases in mortgage rates will moderate growth.

In the first quarter, Canada displayed an 11 percent hike in the bungalow style house; however, Toronto saw a 13 percent hike. Vancouver recorded close to a 22 percent hike in bungalow sales. According to Royal LePage Real Estate Services, Canada, Toronto, and Vancouver saw average bungalow property prices of $329,000, $460,000, and $906,000 respectively. Also noting a rise in property prices is Durham Region real estate that is made up of a few different towns. Read more…