Professional Documents
Culture Documents
Philippines
May 13 - 19 | 2014
ECONOMY
FOR LEASE
6,000 square meter total of BPO space
Supported by 24/7 retail establishments and malls
surrounding the project SM Megamall, Shangri-La
Plaza and Starmall)
Located along Epifanio Delos Santos Avenue (EDSA)
Very accessible via various transport systems. MRT and
bus station just meters away from the building
With available spaces for recruitment for major tenants
RFO 3Q2014
INVESTMENT Robinsons Cyberscape
Capilion commits to invest P7B to develop Clark lot Beta
Philippine Daily Inquirer, 05.12.14
Ayala Land Inc. has teamed up with Bloomberry Resorts Corp. to open and
operate a shopping area within the $1.2-billion Solaire Resort & Casino com-
plex in Paraaque City. Bloomberry and Ayala Land said in a joint disclosure to
the stock exchange the latter would lease and market 5,000 square meters of
gross leasable area as a part of phase 1-a expansion of Solaire Resorts. The
retail component will have premium brands to complete the offering of Solaire
Resort & Casino, Bloomberry said. The expansion projects, which cost $500
million, will be completed by the fourth quarter of 2014. Solaire Resorts is the
first property to open in the Philippine Amusement Gaming Corp.-run Enter-
tainment City in the Philippines. It is expected to face competition once the City
of Dreams Manila, a casino and resort project of Melco Crown and Belle Corp.,
opens in the last the quarter of the year.
P. 2 | COLLIERS INTERNATIONAL
Robinsons Land beefs up portfolio
Malaya, 05.15.14
Robinsons Land Corp. is bullish of the prospects of the property market as it announced this week plans to launch P8 billion worth of project.
The company plans to expand its residential portfolio and will put up several more hotels, two of which would open within the next 18 months.
Frederick Go, Robinsons Land president, said the company expects to bring the number of its hotel rooms to 2,070 by the end of the year from
1,623 in 2013. At present, the company is constructing Go Hotel Davao and Go Hotel Butuan. Butuan will have 104 rooms and will open by
the end of the year. Davao will have 180 rooms and is set to open middle of 2015. Go said Robinsons Land is also evaluating opportunities in
putting up four new Summit Hotels. Go said the company is eyeing to develop another business center in Quezon City with the consolidation
of some 8-hectare lot along C5 road. The property is suitable for a business center given its proximity to the Ortigas business district. It can
accommodate up to 12 towers through multiple years of development. There will be BPO (business process outsourcing) spaces so were
also putting up a shopping center in the area so we can offer dining and mall services to them, said Go.
Vista Land & Lifescapes Inc., the countrys largest homebuilder, expects 2014 to be another banner year as demand for house and lot units
continue to grow, a top company executive said. Vista Land president and CEO Manuel Paolo Villar said the property firm will post double-digit
growth in income, revenues and reservation sales this year that will be supported by higher capital expenditures. We will have a record year
this year and also in 2015, Villar said. Profits of the company rose 15 percent to a record P5.06 billion last year from P4.38 billion in 2012 as
real estate sales climbed 23 percent to P20.02 billion. In the first quarter, this year, the real estate unit of the Villar family said its net income
improved 11 percent to P1.49 billion from P1.32 billion while reservation sales rose 10 percent to P12.94 billion and revenues climbed 12 per-
cent to P5.44 billion. 2014 promises to be another record year for Vista Land. We are pleased to have been able to sustain the double-digit
growth achieved over the past years and should have no problem achieving our full year targets, said Vista Land chairman Manuel B. Villar.
Robinsons Retail Holdings Inc. said core net earnings, which excludes equitized income from Robinsons Bank and interest income, rose 15.2
percent to P530 million in the first three months of the year. Net income, including equitized earnings of Robinsons Bank, rose 2.4 percent to
P643 million from a year ago. Consolidated net sales picked up 16.1 percent to P17.4 billion in the first quarter from P15 billion. Robinsons Re-
tail attributed the growth to sales contribution from new store openings at 12.6 percent, the respectable 2.4-percent same-store sales growth
and the balance from the sales contribution of the newly-acquired businesses. From April 2013 to March 2014, Robinsons Retail added 222
stores to reach 1,145 from 923 last year, translating to an 18.8-percent growth in gross floor area to around 800,000 square meters.
Higher interest income allowed upscale property developer Rockwell Land Corp. to post double-digit profit growth in the first quarter. The
Lopez familys property arm said its earnings jumped more than 17 percent to P254.2 million from P216 million in the same period last year.
Consolidated revenues inched up four percent to P1.42 billion from P1.36 billion. The residential development generated P1.17 billion, con-
tributing 82 percent of the total revenues for the period. Bulk of the revenues came from the sale of condominium units, including accretion
from interest income, Rockwell Land said. Sales of condominium units slipped six percent to P851 million from P906 million primarily due
to lower construction completion of Edades and 205 Santolan, which were substantially completed in 2013 and are already for handover in
2014, Rockwell Land said. Commercial leasing revenues rose three percent to P250.7 million from P244.3 million. Its retail operations include
retail leasing, interest income and other mall revenues.
Starmalls, Inc. saw profit drop by about a fifth last quarter after it sold its ownership interest in Vista Land & Lifescapes, Inc. Its latest quar-
terly financial report showed net income dropped 22.9% to P101.98 million last quarter from P132.28 million in the same three months last
year even as operating revenues grew 24.96% to P453.89 million from P363.23 million, driven by increases in mall occupancy and parking
fee revenues. The major reason for the decrease in net income was the disposal of the firms shares in Vista [Land] last May 2013, so there
is no more equity in the earnings of Vista [Land], Jo Ilihay, the firms information officer, explained.
P. 3 | COLLIERS INTERNATIONAL
RESIDENTIAL
Mass housing developer 8990 Holdings seeks to diversify its product offering with the launch by July this year of its first high-rise residential
project with units worth a maximum of P1.2 million each. 8990 Holdings chair Mariano Martinez said the company would unveil to the prop-
erty market this year a 40-story residential project on Edsa near the Victor R. Potenciano Medical Center in Mandaluyong City. This will be
followed by the launch of another 40-story residential project on Yakal Street in Makati City. Each of these two projects will add 2,000 units
to the property market. These units will likely be turned over to homebuyers three years from the start of construction. The launch of these
projects will mark the debut of the companys Urban Deca Towers brand promoting micro-living offering affordable residential space with
small cuts in strategic locations which could be an alternative to bed-spacing. Each unit covers 13 square meters complete with bathroom and
customized furnishing to maximize the limited space.
Italpinas Euroasian Design and Eco-Development Corporation (ITPI Corp.), which is building the Primavera Residences in Cagayan de Oro
is now looking at replicating its project in other urban areas of the country. For instance, to lower the buildings temperature during the hot
summer months, the building has brise soleil shades that protect the windows from direct sunlight. It also has an inner courtyard that allows
air and natural light to come into the building. The volume, shape and profiles of the buildings two towers let in air at the lower levels and
direct it upward through the courtyard, creating a funnel effect that naturally distributes air to apartments facing each other. Behind ITPI are
partners Arch. Romolo V. Nati and Atty. Jojo D. Leviste, CEO and president, respectively. They have one thing in common. They want to offer
something different to the Philippine real estate market. They designed properties that reduce impact on the environment.
Filinvest Development Corp. (FDC), the holding company of the Filinvest Group is briskly turning over units of their luxury residential project
The Beaufort in Bonifacio Global City (BGC). The Beaufort rises above a six-level banking podium and is located in what is perhaps the quietest
residential enclave of BGC. The Beaufort East and West towers designed by US architectural firm Arquitectonica in collaboration with local
Architectural consultant R. Villarosa & Architects offer commanding views of the Manila Golf Club. The entrance to the residential towers is
in one of the shortest streets in BGC, 23rd Street which terminates at the golf course. The entrance to the banking podium is on iconic Fifth
Avenue, a short stroll away from an ultra-deluxe hotel development, a super block project offering premium retail and dining options and the
future home of the Philippine Stock Exchange.
Robinsons Land Corp. of the Gokongwei group is breaking into the Greenhills property market by building a new 40-story residential and hotel
tower, which it envisions to be the benchmark for affordable affluence. Located on Annapolis Street in Greenhills, San Juan, RLCs Chimes
Greenhills tower will contain 372 residential units under the Robinsons Communities brand with an estimated sales value of P1.6 billion. The
units will be turned over to homebuyers by 2019, or around the same time that RLCs business hotel brand Summit Hotel will open around 100
hotel rooms in the same tower. The project will bring to the property market an additional 15,000 square meters of residential space, with the
average selling price starting at P108,000 per square meter lower than the going rate of around P150,000 per square meter (sqm) in the area
that serves as a gateway to the Greenhills commercial complex.
OFFICE
Once completed, the Five Ecom Center will be a major center for the business-process outsourcing (BPO) industry in the country since it is
expected to house BPO companies. Were very optimistic on this building because this building was primarily designed to capture the oppor-
tunities of the strong BPO market. We all know that the BPO market is one of the strongest drivers of Philippine economy, said David Rafael,
senior vice president for commercial properties group of SM Land Inc. in a recent interview with the Business Mirror during the topping-off
ceremony held at the Mall of Asia complex. Five Ecom is the third in a series of six iconic office buildings envisioned to comprise the premier
business hub of SM Prime in its flagship master-planned estate, the 67-hectare Mall of Asia Complex (MOAC) in Pasay City.
P. 4 | COLLIERS INTERNATIONAL
SM Prime expanding BPO portfolio in next wave cities
SM Prime Holdings Inc. is beefing up its office property portfolio by branching out into second- and third-tier cities to leverage on the groups
enlarged and geographically diverse landbank. The family of retail tycoon Henry Sy aims to create a broader national network as business
process outsourcing (BPO) firms move to next wave cities and other key urban areas to bring stability to their operations. In a prospectus, SM
Prime said it plans to expand its office space presence in Cebu, Davao, Pampanga and Iloilo areas where BPO firms are currently expanding
their operations due to favorable labor market conditions. The expansion is in line with efforts to capitalize on the robust BPO sector outlook
as well as increasing flight to quality developments. According to studies, the Philippine BPO industry total revenue is expected to reach $25
billion by 2016 from $13 billion in 2012.
IT/BPO
Full-service Business Process Outsourcing (BPO) company, SPi Global, recently bought China-based Bachieve International Inc. as part of its
expansion into new markets. The new entity, SPi Global (XiAn) Information Technology Limited will have 260 employees focused on business
process outsourcing, IT outsourcing, management consulting services, and call center solutions. Xian is the BPO capital of Western China.
This geographic expansion further strengthens the companys delivery operations in Asia and complements existing operational strengths in
India and the Philippines, says SPi Global President and CEO Maulik Parekh. The acquisition also affords the company access to a new market.
AyalaLand Hotels and Resorts (AHRC) wholly-owned hotel brand has opened Seda NUVALI in Sta. Rosa, Laguna. The fourth property under
the Seda brand offers 150 guestrooms, increasing its total inventory in the Philippines to 815 rooms in just 14 months since the launch of its
flagship property, Seda BGC, in Bonifacio Global City. According to Seda Group General Manager Andrea Mastellone, Like the other Seda
properties, Seda Nuvali offers the convenience and security of a strategic location, a quality product and service excellence following global
standards. Seda hotels are part of Ayala Land mixed-use developments that include offices and commercial and residential components.
Seda NUVALI is the first lifestyle hotel in the 200-hectare NUVALI eco-city development, foreseen to be the growth center of the Calabarzon
area. The NUVALI commercial hub includes the Technohub, home to BPO firms; a spectrum of dining and retail options at Solenad and The
Monochrome Events Place all easily accessible from the hotel.
Robinsons Land Corporation announced the reopening of the refurbished Go Hotels in Tacloban City. One of the establishments affected by
the storm surge last November was the newly opened Robinsons mall and its affiliate accommodations brand Go Hotels. The hotel started
operating in April of 2013 has enjoyed a steadily-rising patronage until the force majeure held everything in abeyance. RLC poured fresh
investments to continue what it has started in the first place. We came to Tacloban, stayed, never left, and never will. We are one with the
world in helping rebuild the city intimated Liz D. Gregorio, general manager of the Go Hotels chain. The new Go Hotels Tacloban sports a new
look after renovations have been completed.
INFRASTRUCTURE
Rappler.com, 05.14.14
Conglomerate San Miguel Corporation on Wednesday, May 14 presented to President Benigno Aquino III a proposal to build a $10-billion air-
port that will replace the congested and 3-decade-old Ninoy Aquino International Airport (NAIA). SMC president and chief operating officer
Ramon Ang confirmed in a text message that the plan was finally submitted to the Palace after a series of delays. Ang said SMC would build
a $10-billion airport with 4 runways on an 800-hectare property along the Manila-Cavite coastal road. The property is owned by Cyber Bay
Corporation, which is controlled by Ang. The airport will be double the 400 hectares being occupied by NAIA, which has a single runway.
A Nikkei report earlier said the project would be offered under a build-operate-transfer scheme and ownership would be turned over to the
government after 25 years.
P. 5 | COLLIERS INTERNATIONAL
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