December 13,2012 Invites

Real Estate in the Philippines doing Good- Colliers (Philippine Daily Inquirer)

All’s well in PH real estate, says Colliers

By Riza T. Olchondra
Philippine Daily Inquirer

1:07 am | Saturday, November 24th, 2012

 33 20

PROPERTY consultancy firm Colliers International Philippines said Friday the office and residential sectors in Metro Manila were expected to stay healthy amid a strong economy, robust remittance inflows, and stable inflation and mortgage lending rates.

The firm’s market study as of the third quarter said that office stock will likely exceed 7 million square meters in major central business districts (CBDs) in the next two years. Developers anticipate sustained demand, especially from the BPO industry.

Ownership rules limiting foreign participation in certain sectors are not seen to have a big impact on property development since foreign participation in this sector is “minimal” anyway, Colliers International managing director David Young said.

New supply is expected to be at more than 500,000 sq m in 2013, an increase of 28 percent year-on-year and a new record high.

In Makati CBD, total office stock increased to more than 2.75 million following the completion of Zuellig Building with 57,000 sq m.

In the residential sector, new supply of high-rise residential condominiums in the five sub-markets tracked reached almost 5,000 units in the first nine months of 2012.

The majority of these are located in Fort Bonifacio. In the Makati CBD, the stock is unchanged at 15,513 units since March this year, Colliers International said.

Other upcoming completions include Raffles Residences (237 units), Greenbelt Madison (276 units) and The Grand Midori Tower 1 (279 units).

Both the Makati CBD and Fort Bonifacio will have the strongest supply pipeline in the next two years.

As for retail, new retail supply reached more than 60,000 sq m in the first nine months of this year. Colliers International attributed this to Magnolia Town Center in Quezon City and the partial re-launch of Glorietta 1 and 2 in Ayala Center.

“In the long term, retail developments will consistently expand across the untapped geographic markets in Metro Manila, around BPO and commercial centers, and within the master-planned communities,” the report said.

McKinley West Audio Visual Presentation

Few Remaining Lots at Domaine Le Jardin Village at Tagaytay Twin Lakes

Philippine Daily Inquirer Article for Uptown Lifestyle-NOvember04,2012

Megaworld taps EEI to build mall, BPO offices in BGC by abs-cbnnews.com

Megaworld taps EEI to build mall, BPO offices in BGC

ABS-CBNnews.com

Posted at 11/19/2012 6:13 PM | Updated as of 11/19/2012 6:14 PM

MANILA, Philippines - Megaworld Corp. has tapped EEI Corp. as its general contractor for 3 upscale developments at its Uptown Bonifacio project in Bonifacio Global City, Taguig.
Under the deal, EEI will handle the construction of the three-level Uptown Mall and two office towers targeting companies in the business process outsourcing (BPO) industry.  Megaworld and EEI signed the contract of partnership last November 15.
Megaworld is developing the 15-hectare Uptown Bonifacio, located near the British, American and Japanese international schools in Bonifacio Global City.
"Megaworld's brand promise underscores quality... We put a lot of time into the planning of our projects.  In looking for contractors to partner with, we conduct detailed studies on the market and the industry.  This way, we're able to identify contractors that match our exacting standards," said Megaworld Senior Vice President for Operations Division Philipps Cando in a statement.
EEI President and CEO Roberto Castillo said,  "Megaworld defines quality.  The company will challenge us to meet and even exceed their expectations.  We aim to satisfy every demand to deliver impressive end-results."
Since 1994, Megaworld has launched more than 250 residential buildings, office towers, commercial centers and hotels.
Aside from the Uptown Bonifacio developments, EEI is also the general contractor of Megaworld's Eight Forbes Town Road residential project in BGC, and One Central, at the junction of Sen. Gil Puyat and Ayala avenues in Makati. 

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Topping Off 8 Forbestown Road Residence by Manila Standard Today

Megaworld and EEI Corporation top off Eight Forbes Town Road, Megaworld’s 53-story luxury residential project in Forbes Town Center, situated in Bonifacio Global City.  Megaworld SVP for Operations Division Philipps Cando and EEI VP for Field Operations Group Albert Saringo (4th and 5th from right) lead the  topping-off  ceremonies. With them are (from left) Casas Architects Associate Gaylord Bongalon and Partner Bernadette Tan, EEI AVP for Field Operations Group-Buildings Jessie Parada and Megaworld SAVP for Project Management Division Roemar Nograles, AVP for Architecture and Planning Hermelyn Cullano and Project Architect Triff Andres.

Mckinley Hill Fort Bonifacio: Magnificent and Majestic Venice Luxury Residences ...

Mckinley Hill Fort Bonifacio: Magnificent and Majestic Venice Luxury Residences ...: The Venice Luxury Residences, located inside the 50 hectare McKinley Hill Fort Bonifacio,Philippines. Tagged as the "Most Beautiful Urban...

Reserve Now Pay Next Year Promo, No Down Payment, No Lump Sum payment, No Interest 36 months to pay

Puttin’ on the Ritz

REFERENCE:
MANILA STANDARD TODAY
by Joba Botona (September 04,2012)
Puttin’ on the Ritz

When we use the word “luxury” to describe something, we mean that it is expensive and exquisite. Luxury also means comfort and value for money. Uptown Ritz at Bonifacio Global City, Megaworld Corp.’s latest condominium developments, attempts to redefine luxury.

“Uptown Ritz offers not only upscale units as well as premium amenities and facilities exclusive to tenants, but it also offers the ‘luxury of time.’ Living in townships like Bonifacio Global City gives you that privilege. In Uptown Ritz, you don’t need to go far because everything that you may need is just around the area,” shares Noli Hernandez, Megaworld’s senior vice president for sales and marketing.

The Ritz life

The 45-storey building’s striking glass and aluminium facade make it stand among other residential properties in BGC. But there’s more to it than an air of sophistication.

Uptown Ritz’ premium amenities housed on the first eight floors are designed to give comfort to condo owners while the 7th floor’s two decks has everything one may need to relax and enjoy in their abode—pools, outdoor recreation areas, function rooms and a fitness center. Families will also enjoy living in the three and four-bedroom suites on the penthouse floors located at the 40th to 45th levels of the building. The parking area, which occupies the 2nd to 6th floors are also expansive, giving occupants a hassle-free parking with its 330+ allocated slots.

“We want to make our tenants feel that they are a part of an exclusive community by simply living in Uptown Ritz, which offers an ‘uptown lifestyle’ that suits their wants and needs. It is the experience of living a luxurious life in a different sense, because we do not only offer the value of their money but also the value of time,” says Harold Geronimo, director for strategic marketing and communications.

New central business district

The 45-storey Uptown Ritz’ striking facade make it stand among other residential properties in BGC.

Uptown Ritz is part of Megaworld’s master planned township in BGC dubbed as Uptown Bonifacio, which is considered as the “brand-new central business district.” The sprawling 15-hectare community closely follows the company’s formula for townships as upscale hubs for home, business and leisure.

Another latest development of Megaworld is Uptown Place mall, a three-storey high-end dining and shopping hub for those who do not want to out of BGC district. The Uptown Place mall is a mere walking distance from the Uptown Ritz and complements its shopping boutiques at the ground level.

Uptown living, as Hernandez explains it, means that every family’s needs are addressed. The place boasts of its prime location conveniently tucked close to BGC’s key locations such as the Grand Hyatt Hotel, St. Luke’s Medical Center and S&R. Kids may also attend top institutions such as the International School Manila, Manila Japanese School and the British International School.

Uptown Ritz is also very accessible to major roads such as Edsa and C5, which enables working professionals and business people get to their destinations or business centers like Makati Central Business District, McKinley Hill and Eastwood City in less than 20 minutes.

“In Uptown Ritz, it’s an understatement to assume that its residents live in luxury. It’s more than that—it’s uptown luxury,” says Geronimo.

(Condominium units at Uptown Ritz are priced at P9.4M to P27M)

Reserve Now Pay Next Year Promo for Venice Luxury Residences

September 21,2012 Cocktails Night

Project Update As The Month of September 2012

We are pleased to inform you that as of August 15, 2012 8 Forbestown Road
overall project accomplishment is 38.69% complete. Concreting works is
already at 51st floor. Ongoing work includes rebar works, formworks,
fabrication of rebars, plastering works, spraycrete of wall partition,
application of waterproofing and installation of: CHB wall, Pre-cast wall
and drop walls. Installation of air duct for mechanical, pipe sleeving works
for sanitary and fire protection and electrical roughing-ins is also on
development.

The project is on progress with accordance to its schedule.

We are pleased to inform you that as of August 15, 2012, Morgan Executive
Residences Towers 1, 2 and 3 overall accomplishment is 92.00%, 61.00% and
48% respectively. Towers 1, flushing and functionality test of plumbing
fixtures, interior and exterior final painting works, waterproofing works,
meter center works and installation of: kitchen cabinet and closet, lavatory
and countertop is ongoing. Ceiling works at hallway lobby, preparation for
testing of AC units, exterior painting works, waterproofing works and
testing of fire pro piping is ongoing for Tower 2. For Tower 3, continuous
work includes installation of pipes, sanitary water line, copper piping and
riser, exterior painting works, waterproofing works and finishing of
transformer vault room.

The project is on progress with accordance to its schedule

We are pleased to inform you that as of August 15 2012, the overall project
accomplishment for Tuscany Private Estate Phase I, II and III is 95.00%,
79.00% and 42% respectively. For Phase I (Clusters 1,2 and 7) and Phase II
(Clusters 3 and 4), remaining works includes installation of refrigerant
pipes and plumbing fixtures, pressure test and wiring works. For Phase 3
(Clusters 5 and 6), installation of kitchen exhaust duct, branch line and
loop line, droppings and wiring works is ongoing.

We are pleased to inform you that as of August 15, 2012, The Bellagio Tower

III overall project accomplishment is 99.99% complete. Ongoing work includes

rectification of unit owners punchlist, painting works and testing and

commissioning of Passenger elevator. Testing and installation of remaining

electrical systems is substantially complete.

We are pleased to inform you that as of August 15, 2012, The Stamford
Executive Residences Towers I, II and III overall accomplishment is 99.95%,
99.71% and 97.50% respectively. For Tower 1, remaining works includes
testing of remaining blowers and including DPSC. Wiring and installation of
blowers and turbo fan is ongoing for Tower 2 while basement 1, roof deck
area and EE room is for turnover also. Interior painting works, interior
finishing works, finishing of EE rooms prior to turnover, piping system,
installation of fans and blowers and plumbing fixtures is on development for
Tower 3.

We are pleased to inform you that as of August 15, 2012 The Venice Luxury
Residences overall project accomplishment for Tower’s A and B is 34.75% and
32.70% respectively. For Tower A, concreting is already at 29th floor while
Tower B is already at 28th floor. Installation of mechanical duct, piping of
sanitary and plumbing lines, precast installation of façade, installation of
risers and cross main is ongoing for Tower A. For Tower B, precast
installation of façade, installation of mechanical duct and piping of
sanitary and plumbing lines is ongoing

The project is on progress with accordance to its schedule.

Monorail from NAIA to the fort... coming soon!?

Monorail from NAIA to The Fort

A monorail from NAIA to The Fort? That’s possible, says BCDA

By Kim Arveen Patria | Yahoo! Southeast Asia Newsroom – 9 hours ago

Metro Manila commuters may look forward to a monorail plying the Bonifacio Global City (BGC) and NAIA Terminal 3 area, a part of an initial study for the project recently received funding from Japan, a statement showed.

The pre-feasibility study for the monorail, which will connect the Metro Rail Transit-3 (MRT-3) to the new terminal of the Ninoy Aquino International Airport, will be funded by Japan’s Ministry of Economy, Transportation and Industry (METI), state-owned Bases Conversion and Development Authority (BCDA) said in a statement.

BCDA manages BGC, which has been developed from Fort Bonifacion, former United States military base.

“We  welcome  this development as good news and a step forward in realizing the  monorail  project  that  would  serve  millions  of commuters in Metro Manila,” BCDA President and Chief Executive Arnel Casanova said.

The proposed 12.56-kilometer railway will start from the MRT-3 Guadalupe Station, enter BGC through  its north gate and end at the NAIA 3 Terminal Building.

Project completion is seen by 2016.

Casanova said the monorail will provide “a fast, efficient and safe public transport service” by connecting BGC and other mixed-use districts such as McKinley Hill and Newport City, as well as the airport termnial.

BCDA Chairman Felicito Payumo concurred, noting that this will ease the everyday build-up of Metro Manila’s high “commuter traffic of 13 million.”

The pre-feasibility study is the first step of the project, which will be followed by a “full-blown” feasibility study, Eduardo Lena, BCDA program director for special projects, said. He added that consultants from Japan may likely be enlisted for the study.

The expected project cost is will also be determined in the initial study, BCDA said.

Article from The Philippine Star... Demand and Supply of Real Estate in the Philippines 1st Quarter of 2012

No bubble yet, but why risk it 

DEMAND AND SUPPLY By Boo Chanco (The Philippine Star) Updated August 31, 2012  (From Phil Star)

I guess BSP Gov. Amando “Say” Tetangco just got tired being asked all the time if there is a property bubble yet. Or maybe, he is starting to see danger signs and just wanted to be proactive. He is also very responsive to public sentiment and does what he can within the limits of the BSP Charter.

The recent BSP order for banks to change how they report their exposure to the property market made some people a little worried. They had been suspicious of a glut in the property market, particularly in the condominium segment, and the BSP order is being seen as a kind of admission that something is afoot.

But I want to believe that Gov. Say is just showing us why he is one of the world’s top central bank governors, rated to be even better than the US Fed’s Ben Bernanke. Our Gov. Say rated an “A”, same as the previous year, compared to Bernanke’s “B”, an improvement from the previous “C”.

Only five other governors rated an “A” out of 50 rated by Global Finance magazine. An “A” rating represents an “excellent performance” in areas of “inflation control, economic growth goals, currency stability and interest rate management,” the statement announcing the ratings explained.

“Every year, we assess the determination of central bankers to stand up to political interference and their efforts at influencing their government on such issues as spending and economic openness to foreign investment and financial services,” Global Finance publisher Joseph Giarraputo was quoted as saying in the same statement.

So I guess Gov. Say wants to be rated “A” again next year and he won’t let something like a property bubble frustrate that. The latest precautions will also give us an early warning system and make banks behave themselves when tempted to be liberal to a sector that caused untold miseries abroad.

The previous rule excludes loans issued to individuals for property acquisitions or home construction, as well as to developers of socialized- and low-cost housing projects.

Now, according to the BSP chief, “For purposes of determining a bank’s exposure under the new rules, real estate activities shall refer to the construction and development of real estate projects as well as other ancillary services like buying and selling, rental and management of real estate properties.”

Tetangco said the ceiling on real estate loans will remain at 20 percent, but served notice that the BSP will adjust this when necessary. He said the BSP will “review the ceiling after we get the reports from the banks to see if there is a need to adjust.”“The new guidelines provide a more comprehensive measure of a bank’s real estate exposure. It now includes loans as well as investments in debt and equity securities, the proceeds of which shall be used to finance real estate activities,” he said.

He also stressed the move was not taken because asset prices are heading to a bubble. “In terms of loans, it is comfortably below 20 percent. If I am not mistaken, it is more or less 14 percent the latest that I’ve seen,” he told Interaksyon, referring to banks’ exposure to the property market.

It is just as well that the BSP is being proactive. An Australian website, Global Property Guide, recently acknowledged a robust property market here. In a posting last week, it heralded a “Big property surge in the Philippines!”

It opened its report with the observation that “As always happens in countries enjoying economic growth and fundamental structural reform, house prices are rising sharply.” It then offered figures to back that this is happening here.

In the first quarter of 2012, Global Property Guide reports that “the average price of a luxury three-bedroom condominium in Makati CBD rose 4.8 percent to P114,000 ($2,727.53) per sq. m. (q-o-q), according to Colliers International, or by 10.68 percent during the year to Q1 2012 (7.34 percent when adjusted for inflation).”

It continued: “Average prices in other key areas of Metro Manila, namely Rockwell Center and Bonifacio Global City, rose by 11.4 percent during the year to P119,500 ($2,859.12) in Rockwell, and by 8.6 percent to P112,900 ($2,701.21) in Bonifacio Global City.

“High-end residential real estate prices are likely to rise by another 9.9 percent during the next 12 months, according to Colliers. Rockwell Center is predicted to have the highest growth with a 9.9 percent y-o-y increase. Makati CBD and Bonifacio Global City values are expected to rise by 8.2 percent and 5.9 percent, respectively.”

Global Property Guide also reported that “The highest rents are still in Rockwell Center, with condominium average rentals of P780 ($18.66) per sq. m. per month in Q1 2012, up 1.3 percent on the previous quarter. In Makati’s CBD, a 290-sq. m. unit rental averages P658 ($15.74) per sq. m. per month.”

The Guide reports: “Overseas Filipinos’ remittances are powering the low-end to mid-range residential property market. They are snapping up housing projects and mid-scale subdivisions in regions near Metro Manila such as Cavite, Batangas and Laguna Provinces, while the expansion of the upper residential market, including the luxury market, is due to increased housing demand from BPO employees and expatriates, according to the World Bank.”

Citing the Ayala experience, The Guide points out that OFWs account for around 17 percent to 18 percent of residential sales of Ayala Land. “In the next five years Ayala Land president Antonino Aquino expects to double this, by branching out to the affordable and low-end market segment.”

The Guide observes that “Ayala Land is a late entrant to this market, previously dominated by companies such as Vista Land and Lifescapes Inc. Around 55 percent of Vista Land’s reservation sales currently go to OFWs in Asia, Europe and Middle East, while US-based OFWs account for another five percent to 10 percent of sales.”

Ayala will have some catching up to do in the mid-market. When I last talked to Sen. Manny Villar, he told me of his plans to be, in his words, ‘the Jollibee of affordable property.” Apparently, his flagship Vista Land had been land banking in key regional capitals and around Mega Manila. It is a matter of time before they go full blast developing these for the middle income market.

As expected, Sen. Villar does not think there is a glut in the property sector just yet. The market, he said, is so large. But he warned, a developer must know what segment of the market to exploit. He sees more promise in the affordable property segment, specially in fast growing regional centers outside of Metro Manila.

I suppose Sen. Villar is “happy na rin” that P-Noy’s victory has caused a dramatic rise in business confidence so that he may quickly enhance his premier position in the property market. That must have made it easier for him to agree on a coalition of his Nationalista Party with P-Noy’s Liberals. The senator said he can’t wait to go back to running his business enterprises after his term expires next year.

So it is clear: no property bubble yet in the horizon but the BSP is just being cautious. Having said that, those intending to buy property must exercise due diligence. It is first of all still location, location, location.

Secondly, pick a good reputable developer. Anybody can put up a building. But not every development is a Rockwell or an Ayala Land development. The numbers speak for themselves. Appreciation of property prices are highest in the reputable developments… not in the also runs no matter how upscale their market positioning may be. The more hard sell the advertising, the more cautious you should be.

Rubber

Rodolfo de Villa sent this one.

Husband and wife are waiting at the bus stop with their nine children. A blind man joins them after a few minutes.

When the bus arrives, they find it overloaded and only the wife and the nine kids are able to fit onto the bus. So the husband and the blind man decide to walk. 

After a while, the husband gets irritated by the ticking of the stick of the blind man as he taps it on the sidewalk, and says to him, “Why don’t you put a piece of rubber at the end of your stick? That ticking sound is driving me crazy.”

The blind man replies, “If you had put a rubber at the end of YOUR stick, we’d be riding the bus, so shut the hell up.”

Boo Chanco’s e-mail address is bchanco@gmail.com. Follow him on Twitter @boochanco

An Aristocratic Welcome to a World of Wonder, The Venice Luxury Residences

AN ARISTOCRATIC WELCOME TO A WORLD OF WONDER

INTRODUCING:

THE FINAL PIECE IN McKINLEY HILL

CELEBRATE "LA DOLCE VITA" - The beautiful life

Venice. Floating like a mirage on sparkling lagoon, Italy's famed city overflows with the romance of bygone era. Everything bears the stamp of a rich artistic and cultural heritage. From this exquisite landscape, The Venice takes shape. An extraordinary address in McKinley Hill that captures the glory and grandeur of VENICE.

Your new address beckons with a smile and beguiles with its beauty. Embrace by lush greenery, the LAST of 7 towers of The Venice boast facades with subtle Venetian influences. And each resembles a fierro-a gondola's uniquely shaped iron head from above. As you step inside the Venetian-style lobby, indulge your passion for elegant design. Tall curtain glass complements the high ceiling, as plush interiors enfold you in a sense of luxury.

FROM THE VENICE to the rest of  THE METROPOLIS...in Minutes

As our flagship community in McKinley Hill township at Fort Bonifacio, The Venice enjoys a location of great advantage. Here, it's easy to go from your sheltered haven straight to key places in the township and Metro Manila.

Stroll to work at the McKinley Hill CyberPark, right outside your doorstep.  And arrive at nearby international schools (Chinese, Korean & Enderun),embassies (British, Korean, Qatar & UAE), and an events pavilion (The Blue Leaf and The Piazza) just as quickly.

The offices, learning centers and malls in Bonifacio Global City and Makati are easily reached through Upper McKinley Road. Even Ortigas is a stress-free drive away via the EDSA Kalayaan flyover or C-5 Road. If you have business trip, the international airport is accessible via Lawton Avenue. And the city's southern areas are minutes away using Sampaguita West Ramps 1 and 2.

A COLORFUL CANVAS OF VENETIAN LIFE.

The moment you leave the cocoon of your home to meet the world outside, your exuberant spirit is set free.  That's because at the sprawling retail plaza a few steps away, the very best of Venice unravels right before your eyes with man-made grand canal and gondolas similar to The Venetian Macau/Las Vegas and in Venice itself.

At the Piazza Grande, admire your community's very own St. Mark's tower, inspired by the iconic campanile at Piazza San Marco.  Recall eras past at the Doge's Palace, an architectural attraction designed after the Palazzo Ducale.

Plan your day around the lively carnevale of shops and dining places at the two-level commercial center. And at the promenade, dotted with pocket gardens and benches, have every opportunity to refresh old ties and spark new friendships.

A SOOTHING OASIS FOR THE SOUL

In Venice, there's a time without time, when everything slows down to a dreamy place.  Inspired by this leisurely way of life, The Venice brings you your own oasis at the third level. Letting you achieve an ideal balance of rest and recreation whenever you want.

See to your well-being in the swimming pool, fitness station, play area and tennis and badminton courts. Pamper yourself at the outdoor spa. Watch your children have fun in their own pool and playground. And for those who need a breather, relax at the palm court, or by the pond and fountains.

Just as inviting are the tranquil settings of the sculpture, rock and meditation gardens, all inspired by the romantic giardini (gardens) in Venice.

SURRENDER TO LA SERENISSIMA.

Everything in Venice is embraced by pure serenity. And it's this sense of peacefulness that greets you at home, whether in your executive studio, one-bedroom, two-bedroom or three-bedroom suite. Return to a rhythm of life untouched by worldly worries. Bond with your family in well-planned spaces, designed with all modern comforts you need.

Feast your senses on nature's bounty from wide windows and a balcony on all-units. And soak in the beauty of your surroundings even before you take your first step outside.

GOOD INVESTMENT. UNMATCHED PAYMENT TERMS.

Price appreciation escalates annually. High rental-income within the international community of McKinley Hill and Return of Investment/Equity at its peak.

EMBRACE THE MAJESTY. THE MAGNIFICENCE OF VENICE.

at FORT BONIFACIO with MEGAWORLD

NOW ACCEPTING PRIORITY RESERVATIONS.

To avail SPECIAL PROMO TERMS & MORE DISCOUNTS for the first 100 clients only. 

For more details, feel free to contact JOVY RAMOS at 0915-5666681.