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Sunday, November 25, 2012

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


All’s well in PH real estate, says Colliers

By 
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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




Wednesday, November 21, 2012

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

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. 


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.

Sunday, November 11, 2012