Landco: Market response upbeat despite flood issue

The Philippine Star
By Ehda M. Dagooc
Monday, April 21, 2008

Despite the temporary revocation of the development permits of Monterrazas de Cebu, following a mudslide last week that affected twelve families in Barangay Guadalupe, the developer claims market interest has not been affected.

Monterrazas de Cebu, a joint venture project of Landco Pacific Corporation and the Villalon family of Cebu, is one of the largest integrated residential development projects currently undergoing in Cebu.

It is located in the huge 220-hectare prime hillside estates which covers several barangays in Cebu City such as Labangon, Sapang Daku, Guadalupe, and Buhisan.

The project recently hit a snag when heavy rains washed away mud and limestone affecting residents downhill.“Glitches happen when somebody is carving raw diamond into a gem. We are taking steps to help the city mitigate the [water] run-off,” said Alfred Xeres-Burgos Jr., president and chief executive officer (CEO) of Landco.

The cancellation of the project’s development permits will span until Landco can rehabilitate its detention ponds and until the City is satisfied with their preventive measures.

Thus, Landco is fast tracking the completion of its detention ponds to point out its commitment in helping Cebu’s problem in the drainage system, which caused flooding in some areas in the Metropolis.

Landco vowed to do its best to get away from being the “first to blame” whenever heavy flood will happen within the project’s neighborhood barangays.

Nevertheless, despite the revocation issue, Burgos said market interest for the project is not affected adding that “Cebu has a mature market.”

Before the end of this semester, Burgos said the project will complete its fifth detention pond to catch waters coming from the mountains. By the year end, Monterrazas will build a total of eight detention ponds.

In fact, at the height of the permit revocation issue, the company launched its Northridge enclave component, a portion within the development which offers lots for the middle-high residential market segment.

Burgos even expressed appreciation to the City government for its constant review of the project’s development.

“We are happy that the Mayor [Tomas Osmeña] is constantly reviewing our works,” he said.
The company is looking at making 20 to 30 ponds to catch waters coming from the mountains for the total development.

Landco developed its “Storm Water Management Concept,” which is consistent with the proposed Cebu City Drainage Master Plan.

This extensive storm contingency program will develop on-site storm water detention infrastructure which is determined to be 20 percent higher than the Cebu City Master Plan requirement.

The sprawling 220-hectare development will have a total of six ponds (or drainage basins) for Phase I that will absorb the heavy downfall of water from the mountains, especially in long-term rainy season.

Aside from ponds, other facilities that will be built to control the strong flow of water include man-made lakes, lagoons, infiltration areas, grass pavers, among others.

The project’s overall drainage basin will cover the entire drainage of the Linap Creek catchments with an estimated total area of 760 hectares.

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Eton launches new project

Philippine Daily Inquirer
First Posted 00:21:00 01/09/2008


Eton Properties Philippines Inc., the real estate arm of the tobacco tycoon Lucio Tan, launches this Wednesday the first 150-hectare residential “island lots” subdivision in its 1,000-hectare township project called “Eton City” in Santa Rosa, outside Manila.

The “South Lake Village” is the centerpiece of Eton City and will feature 18 residential islands surrounded by a 35-hectare man-made lake.

Each island, about one hectare in size, will have eight to 10 residential lots of about 1,000 square meters each, Eton president Danilo Ignacio said.

He said the lots would be sold at P10,000-P12,000 a square meter.
Ignacio said Eton might add a 19th island for social events, such as weddings.

Completion and turnover of South Lake Village is targeted for June 2009, he said.

The project broke ground last Dec. 8. Edited by INQUIRER.net

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Vista Land net profit more than doubles to P3.47B in 2007

By Zinnia B. Dela Peña
The Philippine Star
Thursday, April 3, 2008

Vista Land & Lifescapes Inc., the listed holding firm for most of the real estate assets of the family of Sen. Manuel Villar, said its net earnings more than doubled last year to P3.47 billion for P1.46 billion in 2006 on the back of higher sales from all its business units.

In a press briefing yesterday, Ricardo Tan Jr., Vista Land senior vice president for finance, said revenues from real estate sales grew 37 percent to P8.2 billion from P6 billion a year earlier. He said 60 percent of total sales came from overseas workers.

Gross profit reached P4.2 billion, up 35 percent from P3.1 billion.

As of end-2007, the company had total assets of P44.4 billion or an increase of 49 percent from the year earlier level of P29.7 billion. Stockholders equity likewise increased to P31.3 billion or more than three times the P8.3 billion recorded in 2006.

Tan said the company has also been able to reduce its bank loans to just P300 million from P400 million and its liabilities to P13.1 billion from P21.4 billion.

He said Vista Land remains bullish on the property despite a slowing US economy, given the country’s stable economy and inflation and low interest rates. In fact, the company is eyeing total sales take-up of P19 billion this year compared with only P16.6 billion in 2006.

For the first two months of the year, sales reached P3 billion or an increase of 14 percent from the previous level.

Vista Land has lined up 43 new projects this year with a combined estimated sales value of P53 billion, Tan said.

The company is allotting P12.6 billion for its capital expenditures this year to further strengthen its dominance in the housing sector. Funding will come from internally-generated cash.

“While we are constantly exploring opportunities for alternative revenue streams, we remain focused on housing with emphasis on mid-to-affordable segments,” Tan said.

Vista Land is seeking to increase the area coverage of its regional expansion to at least 20 cities and municipalities by end 2008.

As of end November last year, subsidiary Communities Philippines had 28 projects covering 405 hectares under development in 15 cities and municipalities outside Mega Manila. The company already has presence in Pangasinan, Pampanga, Bulacan, Batangas, Iloilo, Cebu, Leyte, Cagayan de Oro and Davao.

With the regional expansion of Communities Philippines, Vista Land has further strengthened its position as the property developer with the widest geographical reach with 84 projects in its portfolio covering 1,167 hectares under development in 33 cities and municipalities across the nation.

Tan said the company has a total landbank of 1,749 hectares, enough for development over a period of 10 years.

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The Luxury of Studio Living

The Philippine Star

When you’re faced with living in a studio unit, possibilities may seem few. However, PHILTOWN PROPERTIES, together with Ms. Pikka Zaraga, would like to share how studio living has inspired them to create a cozy home out of a 41 square meter unit in their Fort Bonifacio project FAIRWAYS TOWER with a little creativity and help from SM Our Home, Abenson appliances, and Carrier Air conditioners.

Step one: Pick a theme
Most homes nowadays have picked themes to represent the people that live in them. For this unit, an ASIAN theme was chosen. It’s easy to work with the Asian theme because it’s close to our hearts. Secondly, Asian interiors work to make a comfortable home with inevitable integrated class.

Asian colors shy away from pastel colors or silvers and blacks which numerous American homes have incorporated. Instead it works with a lot of homegrown dark wood, golds, reds, and numerous shades of green and yellow.

So, from linens to pillow cases, from tables and chairs, from couches to pillows… we made sure to visit the right place to get everything we need: SM Our Home.

Step two: Settle on the size of your bed
The size of your bed will dictate how much space you’ll have left for the rest of your home. Even if you live alone, everyone should sleep like a queen! So, for our unit, we have chosen a queen sized bed to ensure nights of heavenly sleep.

Of course, linens, sheets, and pillows are as important as the size of the actual bed. Choose materials that you know you won’t be allergic to and textures that you are comfortable with. Mix and match the designs of your covers and well as the colors of your pillows.

For our bed, we have chosen a mix of beiges and oranges which still carry an Asian flavor that perfectly complemented the painting we also got from SM Our Home, with darker accents to create a timeless balance of colors.

Step three: Go for a dining set that fits your lifestyle
Not everyone cooks at home nor does everyone eat out everyday. However, we do one more than the other. So, if you know you’ll be eating out after work more often than not, opt for a two-seater dining set.

For our unit, we picked out a two-seater dining set that matches the color of our bed. Since these two are the major pieces in any home, you have to match them to achieve one look that seems to come together naturally.

We picked chairs with red upholstery to go with the Asian theme. Red is a good color to go with the dark wood common in Asian homes.

To complete our dining set, we chose tableware that matched our bedroom linen. This way, a smooth flow is maintained. We gave this dining set gold accents as well as appropriately sized art works in the shade of red to match the upholstery of the chairs.

Step four: Decide on how many guests you can entertain
Though a studio unit seems to put a limit to entertaining, a well thought out plan and choice furniture can help change this perception.

Choosing single chairs can make your living area look standoffish. We opted for couches to set a more relaxed atmosphere. Luckily, we have found perfect-sized couches and still had enough space for a trendy, yet classic, design called the O-ring chair by Ital Design in SM Our Home.

Greens and reds were used to accentuate the living room area to set a harmony between the bedroom, dining and living area. We also placed a large sized golden mirror above the couch to create the illusion of a bigger space at while keeping with the Asian feel.

Your living area cannot be completed without that perfect coffee table. Choose a size appropriate for the space available yet enough to entertain for a night of wine and cheese.

Multi-purpose pieces are the secret to designing small spaces. A shelf can double as a bedroom and living area divider as well as a great piece to display your favorite books, ornaments and essential things for the home.

Step five: Make your mark
In dressing up this unit, we felt that if you can sleep in a bed fit for a queen, you also deserve to watch your favorite shows in 42 inch plasma TV. Besides, the best thing about flat screens is they are designed for function and practicality in providing an investment and space-saver.

First thing you have to do is lie down in your bed and decide on a comfortable position of your TV. After settling this, you’re left with enough space for a small cabinet or dresser, a practical yet timeless piece where you can store anything from files, jewelry, clothes, and even DVDs.

Next, add something more personal to your space. For our unit, we made space for a little alone time where you can catch up on some work or spend your Sunday nights reading a book. We matched this with a special reading light which can also add a soft light atmosphere at night.

Step six: Don’t forget you have a kitchen
A lot of people tend to forget about their kitchens whereas other people tag them as their favorite room in the home. Whether you cook or eat out a lot, every home needs a refrigerator and a stove.

When picking out your appliances, make sure you get something that fits your lifestyle and budget. Never get something too big for your kitchen or too small to fit the amount of food you eat at home. Always remember to pick brands that you know have been tried and tested and can go a long way.

We hope that these tips would help studio owners with some of the usual designing dilemmas. Remember that a small space does not equal limited possibilities but a challenge to create a unique and practical home for you.

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Real estate growth hits historic high

Malaya

The Philippine real estate industry grew by an average of 17 percent last year, a record high, brought about by the expansion of malls, new buildings for call centers and more detached houses built by overseas contract workers.

Data from the National Statistics Office showed that the Gross Value Added of 17 percent last year, the highest annual growth achieved since 1967. It outperformed the previous year’s 15.4 percent growth and even the 2004 boom year growth of 16 percent.

The NSO estimated that GVA at constant prices reached P14.3 billion in 2006, higher than P10.6 billion and P12.2 billion recorded in the years 2004 and 2005, respectively.

The robust annual performance in real estate industry was driven by increased renting and leasing operations as a result of the opening of upscale giant super malls and commercial and shopping centers.

The growth was further buoyed by the strong production and sales of residential developments in subdivisions and high-rise condominium projects fueled by the significant contributions of the remittances of Overseas Filipino Workers (OFWs) and Filipino immigrants.

Likewise, the growth of Business Process Outsourcing (BPO) sector continued to boost sales and occupancy of office spaces, especially in the leading commercial business districts in the country.

In the eighties, real estate industry was affected by the economic and political developments in the country. While it grew by 13.6 percent and 13.9 percent in 1980 and 1982, respectively, the sector plummeted by 25.3 percent in 1984, after the assassination of former senator Benigno Aquino, its worst performance in almost 40 years.

From 1991, the industry gradually increased, attaining a 10.7 percent growth in 1996 before slowing down in the next five years to a low of negative 10.7 percent in 2001, the second lowest annual growth rate since 1967.

The slowdown was largely attributed to the 1997 Asian financial crisis, which was felt not only by real estate players and consumers but also by the entire economy.
Starting 2002 however, the industry picked up and remarkably recovered until its boom in recent years including the all-time high of 17.1 percent in 2006.

The industry sustained last year’s growth during the first quarter of the year. Indicators such as expansion of existing malls and shopping centers, increased office space demands from the call center industry and business process outsourcing (BPO) sector, and stepped up priming activities of major real estate establishments likewise indicate that the growth could continue for the coming quarters.

GVA is made up of services produced in real estate buying, selling, subdividing, renting, leasing, operating of self-owned/leased apartment buildings, non-residential and dwellings, cemetery developments and real estate activities on a fee and contract basis.

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Condo developer acquires 5 new sites in heart of Binondo

Manila Bulletin

Condominium developer Anchor Land Holdings Inc. has acquired five parcels of land in the heart of Binondo, Manila where land sales are rare and always priced at a premium.

In a disclosure to the Philippine Stock Exchange (PSE) yesterday, the firm said it has acquired the outstanding capital stock of Gotamco Investment Realty Corporation for an undisclosed price.

Gotamco Realty owns five parcels of land as well as the rights and interest of the registered owners of another lot with an aggregate area of 3,065.70 square meters, all located at Ongpin Street, Binondo, Manila.

The PSE ordered a trading suspension of ALHI shares yesterday pending disclosure by the company of the complete terms and conditions of the said transaction.

Anchor Land has recently raised P774 million in fresh funds from its initial public offering which will partially finance its aggressive land acquisition and development program with a focus on properties in Binondo and nearby areas.

Late last year, the firm said it signed a memorandum of agreement to acquire a Spanish-owned real estate corporation to gain ownership of prime lots in Binondo, Manila.

ALHI vice chairman Steve Li said that their latest endeavor is in line with their plan to acquire more lands for high-rise residential condominium projects. "Acquiring a real estate company is one of the fastest ways of increasing our land bank," he said.

In the fourth quarter of 2007, Anchor Land launched its two-tower, 18-storey residential condominium project inside Aseana Park, an area near to the SM Mall of Asia.
The project, covering a 6,500-square meter area, boasts of state-of-the-art office and commercial spaces at the ground and podium levels.

Anchor Land is riding high on the success of its first venture three years ago, the 33-storey Lee Tower in Binondo, Manila, and the upcoming turnover of its 2nd high-rise condominium project, the 33-storey Mayfair Tower along United Nations Avenue, Ermita, Manila in the middle of 2008.

Li stressed that their ongoing projects and planned acquisitions are a testament to the commitment of Anchor Land to serve the needs of their niche market, the Filipino-Chinese families living in the Binondo area.

"We are eager to start another condominium project in Binondo because we know there is a huge demand for high-quality condominium units among the Filipino-Chinese community," Li said.

Since its incorporation four years ago, Anchor Land has been continuously building luxury condominium projects within Metro Manila, especially the Binondo area where it plans to redefine their niche market’s urban living.

Along Ongpin Street in Binondo, Anchor Land is developing Mandarin Square, a 39-storey condominium building projected to be completed by December 2009.

Seen to provide for the finest urban living among Filipino-Chinese families, Mandarin Square boasts of a-first-of-its-kind two-level loft units with private gardens and an easy access to the pool, gym and other recreational facilities.

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DMCI Homes eyes OFW market

Manila Bulletin

DMCI Homes, known for its essentially high-end yet affordable residential developments, is reaching out past national boundaries to help overseas Filipino workers (OFWs) achieve their dreams of owning a home.

The premier real estate firm said it has already posted several offices worldwide to directly apprise OFWs of a best-option package encouraging as well as guiding them to wisely invest their hardearned money in buying their dream house.

As the real estate business arm of construction giant D.M. Consunji, Inc. DMCI Homes has already developed 12 residential communities on prime land following distinct design concepts. As a result, it has an array of fully-developed, ready-foroccupancy residential units available now especially to OFWs.

"For most OFWs," said a DMCI Homes official, "retiring to their homeland and sharing the fruits of their hard work abroad with their families is always in the back of their minds. When the moment finally comes, the homecoming gets extra sweet and rewarding when they return to a house they can call their very own."

But should the new homeowner opt to continue working abroad and at the same time want to realize the full potentials of his property, he will still find DMCI Homes at his service, ready to give him sound advice in that direction.

The company said it has set up an Asset Management Team that will oversee the lease administration of the OFWs residential unit including maintenance and collection of rent on his behalf. "While still at work abroad, he gets additional income from leasing his property in the Philippines," the official added.

D.M. Consunji, Inc., being the construction affiliate of DMCI Homes, has been building local and international landmarks and residential communities all bearing exceptionally fine workmanship that can only come from its 50-year experience as a builder.

DMCI Homes existing urban housing communities are perfect examples of this. Each of these residential developments offers resort features and modern amenities such as landscaped gardens, a playground, clubhouse with game and function rooms, swimming pool, basketball court and jogging and walking paths.

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