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Property Buyers Told: Deal with Licensed Real Estate Practitioners

AMID the booming Cebu property sector in the country and the increasing purchasing power of the public, prospective buyers are encouraged to only transact with licensed real estate practitioners.

This as the practice of unlicensed real estate agents are still rampant not only in Cebu, but in the rest of the Philippines where more than half of real estate transactions are said to be controlled by this sector.

“It is still very rampant because of the huge opportunity to make money in this industry,” Samuel Lao, national director and vice president for the Visayas at the Philippine Association of Real Estate Boards (Pareb), said in a press conference for the 7th Real Estate Expo in SM City Cebu on Tuesday.

Bannering the theme “Showcasing the Finest in the Industry,” the event gathers the best real estate developers and brokers under one roof from Sept. 12 to 18.

As buyers flock to the expo to check out great real estate deals, Lao reminded the public to only deal with professionals.

He said many buyers, especially in the countryside, are still unaware of the ramifications of transacting with unlicensed real estate practitioners who are considered “colorum.”

Lao added that Pareb is currently undertaking an aggressive campaign to educate buyers about this issue.

“If they want to buy property, please deal with licensed practitioners. They can check if they are licensed. If not, don’t deal,” he said.

He explained that licensed and unlicensed real estate practitioners are the same, except that the latter kind do not have accountability.

Lao said licensed real estate practitioners would never compromise transactions with their clients as these can easily be traced through their accreditation with the Professional Regulatory Commission (PRC) or Housing and Land Use Regulatory Board (HLURB).

To check whether a broker is licensed or not, clients can simply ask them for a PRC ID card or HLURB registration.

Under Republic Act 9646 or the Real Estate Service Act of 2009, real estate brokers, appraisers and consultants should be licensed.

Violators of the law, if they are licensed real estate practitioners who are proven to have committed infraction, can be penalized with P100,000 and two years imprisonment. For unlicensed practitioners, these penalties can possibly be doubled.

Lawyer Nelson Chua, vice president for external affairs at Pareb-Cebu South Real Estate Boards (Cesoreb), said they earlier formed an “anti-colorum” task force to go after unlicensed practitioners.

“But Pareb is more on the educational approach. While we go after them and have them penalized, we also encourage them to come to the fold of real estate organizations to be accredited,” he said.

Pareb covers 68 boards all over the country, translating to at least 5,000 members nationwide.

Pareb-Cebu Real Estate Board (Cereb), according to its website, has over 400 members.


By: Victor Anthony V. Silva | Cebu Daily News | September 13, 2017

#Licensed-Cebu-Real-Estate-Agent #Licensed-Cebu-Real-Estate-Broker #Philippine-Real-Estate
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Mid-Town Penthouse Unit For Sale

Mid-Town Penthouse Unit For Sale | Properties |
26 Story Residential Condo Located on the 5th to 26th Floor Designed with Contemporary Architecture to Maximize the Best View of Midtown Cebu 1,800 Sqm Amenity Area on the 5th Floor Podium Offers Various Facilities Units are Smartly Designed for Flexible Interior Configuration Podium Parking

Baseline Cebu Features and Amenities

Lobby High Speed Passenger Elevators Power Back-up System Lighted Hallway Garbage Room Property Management Services Mailbox 24/7 Security Swimming Pool Multi-Function Room Sky Garden Gym Area Deck

Location – Baseline Cebu is walking distance to:

Malls: Robinson’s Mall Cybergate Mall Mango Square Mall One Mango Mall Hospitals: Cebu Doctors’ Hospital Chong Hua Hospital Schools: St. Theresa’s College Velez College Cebu Institute of Medicine Sacred Heart School for Girls
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IT Park Condo For Sale

Designed to Perfection

Units are meticulously designed and angled for the best panoramic view of Cebu.

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38 residential floors 3 levels of amenity at the 26th to the 28th floor 2 main lobbies (East & West) 8 high speed elevators 3 Levels basement parking A grand atrium at the center of the tower Ultra-exclusive VIP Units

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24 hour security CCTV System Property Management Services 100% Back-up Power MRF (Materials Recovery Facility) FDAS (Fire Detection Alarm System) Automatic Sprinkler System Domestic Water Tank

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Of Property Bubbles and Cebu’s Builders

A local economist and educator called for diversification in the Cebu real estate industry after a London-based economic research company cautioned the Philippines to watch out for a possible property bubble.

Fernando Fajardo, economist and professor at the University of San Carlos, said developers only respond to the perceived current demand and accordingly to invest in new projects (house and lot for sale in Cebu), especially with the low interest rates prevailing now.

“But things could go wrong when there are too many of them doing the same thing, and when the perceived future demands at the time the projects are ready do not materialize,” Fajardo said.

According to a report by Colliers International, the demand for residential units in Cebu during the third quarter of 2016 grew by a quarter on the back of a strong take-up in the economic units.

More than half of the total take-up then were from the mid-income category, followed by economic, and the affordable segments.

On the supply side, some 1,900 condominium units were launched during the period covered, driven by the low-cost category.

Overall vacancy jumped 25 percent from 20 percent a year before due to the completion of a significant number of new condominium units.

Colliers said the favorable overall demand from locals is mainly attributed to increasing household incomes driven by OFW remittances.

Other factors that have affected stronger take-up during the period are low interest rates; flexible and affordable payment schemes offered by banks and developers; improved accessibility to residential projects, especially those inside township projects; and a generally robust macroeconomic environment.

In a recent Inquirer report, London-based economic research firm Capital Economics was quoted as saying that the rapid credit growth in the Philippine financial system was not something to worry about yet, but it expected the Bangko Sentral ng Pilipinas (BSP) to temper real estate lending amid signs of overheating.

Capital Economics economist Alex Holmes said in a June 16 report that while there was no need to panic, the high credit growth rate in the real estate sector, as evidenced by accelerating property prices, should be watched carefully.

According to the BSP’s latest residential real estate price index, housing prices nationwide rose by an average of 0.3 percent year-on-year during the fourth quarter of 2016, although slower than the 2.2-percent increase a quarter prior and 5.2 percent from a year ago.

However, Holmes said real estate lending only accounted for a fifth of the country’s total loan portfolio.

Investopedia defines a property bubble or housing bubble as a “run-up in housing prices fueled by demand, speculation, and exuberance.”

Housing bubbles, it adds, usually start with an increase in demand, in the face of limited supply which takes a relatively long period of time to replenish and increase.

“Speculators enter the market, further driving the demand. At some point, demand decreases or stagnates at the same time supply increases, resulting in a sharp drop in prices – and the bubble bursts,” the definition reads.

Asked whether this could happen in Cebu amid the rapid growth of its real estate sector, Fajardo said “anything is possible.”

“On matter of policy, I leave it to the BSP to determine if current expansion in credit that finances real estate growth is growing beyond normal and to put a brake on it when necessary,” he said.

Fajardo said it was hard to say when it could happen, but most often the bubble will burst when no one or very few expect it, similar to what happened during the collapse of the US housing market not long ago.

Fajardo was referring to the US housing bubble affecting over half of that country, where housing prices peak in early 2006, started to decline in late 2006 and 2007, and reached new lows in 2012.

“Nobody also predicted the Great Depression in the 1930s, which started with the sudden plummeting of US stock prices in late 1929,” said Fajardo.

The economist said what developers should do is to always factor the possibility of a real estate bubble and have contingency plans ready once it bursts.

Fiona King, founder of RFK Holdings, said bubbles happen when there is a huge gap between supply and demand.

“It is the market’s way of correcting itself,” she said.

One of RFK’s projects is BLOQ Residences, an affordable housing project that targets millennials.

But while real estate development in Cebu has seen robust growth in recent years, King said it would be prudent to view the industry not as “one big pie,” but “several pies of different flavors.”

“When specific movements happen to the markets, it will have an effect on the appetite for specific pies, and not on all,” King said.

She said the government has recognized the affordable housing backlog in the Philippines and has also made important moves to address this.

The developer said she believes these coming years will be interesting for the segment as the support of the government will serve as a driver of its growth.


Victor Anthony V. Silva  |  Cebu Daily News  |  July 8, 2017

#Philippine-Property-Bubble #Philippine-Real-Estate-Bubble
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Town House in Labangon For Rent

Town House in Labangon For Rent | Properties |
Aproximately: 60 Sqm 3 Bedrooms / 2 Toilet and Bath Service Area Maid’s Quarters NO Parking Available Php 20,000 / Month
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Rockwell Land Eyes more Commercial Developments to Counter Condo Revenue Cycle

Rockwell Land, the property arm of the Lopez family, is looking to increase its presence in Philippine commercial leasing in a bid to counter the cyclical nature of selling residential properties.

Though lucrative, one major drawback of Philippine residential properties is that once a new condominium is completed and fully turned over, the developer makes little to no more revenue from it. This means that a developer has to constantly build more to generate revenue.

Philippine Residential properties are also more vulnerable to market dips than Philippine commercial properties.

“We want to bring up our commercial developments because we want to increase our recurring revenues. It’s a good strategy to counter the cyclical nature of the residential business,” said Rockwell Land chief financial officer Ellen Almodiel following the firm’s stockholders’ meeting on Wednesday, May 31.

Rockwell Land has just come through such a cycle, as its president Nestor Padilla pointed out to stockholders during the meeting.

“While the market slowed down in 2012, we continued our sales momentum through to 2014 but this dropped in 2015. Last year, reservation sales also dropped by 37%,” he said.

This year, 3 of the 5 Rockwell Land projects up for completion focus on commercial leasing.

These include the Sheridan Business Center in Mandaluyong, its second business center, which is set to add 48,000 square meters (sqm) of leasable space to its existing office space portfolio of around 100,000 sqm.

There’s also the Santolan Town Plaza, with 5 floors of office space and 2 floors of retail space that will add 20,000 sqm of leasing space.

Finally, the developer is set to complete the expansion of its flagship Power Plant Mall by Christmas, which wlll add another 5,000 sqm of leasable space.

Rockwell Land also expects to complete the construction of its first Aruga hotel in Rockwell Center, featuring 200 rooms, in 2019.

Beyond the horizon, it plans to build its first resort in Punta Engano in Mactan, Cebu, with construction to start next year and completion expected by 2021.

Almodiel said recurring revenue was up 17% last year, accounting for P1.2 billion or roughly 36% of the firm’s total P3.4 billion in earnings before interest, tax, depreciation, and amortization (EBITDA).

“We will increase it to about 40% of EBITDA once 3 commercial developments in progress are completed and then once we’ve gotten stable occupancies and once the hotel [revenue] kicks in,” she added.

Luxury sector heating up

The shift in strategy toward more recurring revenues also comes as more and more players are entering the high-end residential property market, Rockwell Land’s forte.

For instance, SM Development Corporation, which has long dominated the mid-range segment, announced plans earlier this year to venture into luxury developments.

Ayala Land, meanwhile, is already an established player in the field and its luxury brand Ayala Land Premier booked P8.1 billion in sales in the 1st quarter of 2017 alone.

Closer to home, Century Properties’ Century City sits just a kilometer away from the Rockwell Center and it is building high-end developments just across the river from Rockwell Land’s current major residential condominium project, Proscenium, in Makati City.

The good news for Rockwell Land is that market indications show there is still plenty to go around for now.

“We’ve been anticipating more competition but so far we haven’t been feeling a slowdown. In fact even until this month, the interest in [Rockwell Land] projects is still very high,” Almodiel said.

“The luxury residential market has grown compared to the same period last year. For this year alone, Proscenium sales grew 137% compared to Q1 of 2016 and we’re seeing record prices also in terms of price per sqm. We’re already selling at P280,000 per sqm and some units have gone to as much as P300,000 per sqm,” she added.

Strong sales of Proscenium units, which are projected to be turned over to residents beginning 2018, as well as The Grove in Pasig City have pushed reservation sales up 56% to P2.4 billion in the 1st quarter of 2017.

This in turn has fueled a net income for the 1st quarter of 2017 that is up by 51% to P516 million, compared to the P342 million booked in the first 3 months of last year.

For this year, Rockwell Land expects residential sales to hit P22.5 billion.

Beyond Proscenium, the firm also plans to launch a 3-tower high-rise development called The Arton this July in Quezon City. The property will cover 1.9 hectares of land and feature 80% open space.

To facilitate this development as well as the commercial projects in the pipeline, Rockwell Land upped its capital expenditure this year to P14 billion.

By Chris Schnabel | Rappler | Jun 1, 2017

#Commercial-Property-For-Sale-In-Cebu #Industrial-Property-For-Sale-In-Cebu #Philippine-Commercial-Properties
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'Dutertenomics to Unlock Real Estate Value' in Metro Manila, Nearby Regions

'Dutertenomics to Unlock Real Estate Value' in Metro Manila, Nearby Regions | Properties |

The infrastructure push of “Dutertenomics” will unlock the potential of the property sector in the Philippines, according to a real estate company official.

“The infrastructure build-up will unlock more value for real estate. Not just within Metro Manila, but also in the surrounding regions,” said Arthaland treasurer and executive vice president Leonardo Po.

 Po, who is also Century Pacific Group of Companies executive director, told ABS-CBN News Channel that the government’s comprehensive tax reform package will also be a big boost for companies.

He said the lowering of personal income taxes will boost purchasing power and benefit their food business, Century Pacific Foods Inc., a canned food manufacturer.

He believes consumer demand will remain strong despite inflationary pressures, which are a key concern brought by the strengthening of the US dollar versus the peso.

Po also confirmed the company has raised the retail prices of some of its brands.

Meanwhile, Arthaland’s Century Pacific Tower in BGC is on track for completion this year.

Po said that the Cebu Exchange, Arthaland’s first foray in a growth city outside Luzon, will cater to the business process outsourcing (BPO) industry.

“There’s a continued interest among BPO businesses locating in the Philippines in spite of Trump’s America-first policy,” he said.


ABS-CBN News | May 13 2017

#Philippine-Real-Estate #Real-Estate-Phiippines
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Philippine Banking Sector to Grow in Double-Digit Terms – S&P

Philippine banks are expected to grow “rapidly” in the next two years on the back of “strong” macroeconomic fundamentals, Standard and Poor’s Global Ratings (S&P) said in a new report.

The banking sector will grow by 15 to 17 percent this year and the next, according to the “Philippine Banks To Continue To Ride Robust Economic Growth” published on Wednesday.

“We believe that the credit cycle in the Philippines has further to run,” S&P Credit Analyst Ivan Tan said in the report.

“Most of the factors that drive credit cycles – corporate profits, low interest rates, and abundant liquidity – still look very much in place,” he added.

In a policy meeting earlier this month, the Bangko Sentral ng Pilipinas (BSP) decided to retain the overnight lending rate at 3.5 percent, the overnight borrowing rate at 3.0 percent, and the overnight deposit rate at 2.5 percent.

Domestic liquidity grew by 13.2 percent year-on-year to P9.9 trillion in June, recent data from the central bank showed.

S&P noted, however, that among the downside risks to growth are the high costs to achieving financial inclusion.

“S&P Global Ratings believe Philippines’ consumer loans segment has considerable potential for growth. However, the high branching costs to reach customers in this large archipelago is a hindrance,” it said.

BSP Governor Nestor A. Espenilla Jr. earlier said his focus would be on financial inclusion.

S&P retained its “stable” outlook on the Philippine banking industry.

“The outlook for banks in the Philippines is stable over the next 12 months, reflecting supportive economic conditions and sound financial fundamentals,” it said.

“We believe the combination of sound capital and funding profiles is an enduring strength of the Philippine banking system and will continue to underpin ratings on the country’s banks in 2017,” said Tan.

August 23, 2017 | Jon Viktor Cabuenas | GMA News

#Philippine-Banking #Philippine-Banks #Philippine-Economy #Philippine-Economy-Forecast #SP-Philippines
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Cebu Landmasters Planning to Boost Landbank in Key Provinces in Visayas

CEBU LANDMASTERS, Inc. (CLI) is in talks to acquire more land in Cebu, Iloilo, Negros Occidental, Cagayan de Oro and Bohol, as the listed property developer looks to expand its footprint in the region.

 “Demand for housing, offices, and commercial spaces continues to soar in the Vis-Min (Visayas-Mindanao) area and CLI wants to be at the center as it happens,” CLI President and Chief Executive Officer Jose R. Soberano III said in a statement issued over the weekend.

The company said it is in talks with property owners in Cebu, Iloilo, Negros Occidental, Cagayan de Oro and Bohol “to prop up (the) existing landbank.”

In recent weeks, CLI has been buying several properties, using the proceeds of its P2.9-billion initial public offering conducted last June. Its most recent acquisitions include the 4.6-hectare property in Bogo City, Northern Cebu as well as a five-hectare land in Jaro, Iloilo City.

The Bogo property will feature the second of its Villa Casita socialized housing series, and will offer 700 housing units. The development will also have sizeable green spaces suited for parks and community facilities.

“Villa Casita provides families a home with simplified living spaces, where they can enjoy the basic necessities of life while surrounded by nature’s elemental beauty,” Mr. Soberano said.

On the other hand, the Jaro property will provide 500 economic housing units which will still have facilities similar to those found in high-end communities.

Aside from acquisitions, CLI has also earmarked project launches for the rest of the year.

Set to be launched in the third quarter is a housing development on a six-hectare coastal property in Sibulan, Negros Oriental. The project is located near the airport, and is 15 minutes away from the city center of Dumaguete. The company is targeting overseas Filipino workers and Dumaguete-based families as potential customers for the project.

Meanwhile, a one-hectare mixed-use development in Bacolod City, Negros Occidental will also be launched by the second half of the year.

“It will be the latest edition of CLI’s fast-selling ‘garden series,’ currently being offered in Cebu City, Davao City, and Cagayan de Oro city,” the company said.

CLI generated P2.87 billion in reservation sales during the first half of 2017, almost enough to breach its 2016 full-year figure of P2.94 billion.

The company’s three flagship projects, namely 38 Park Avenue in Cebu, MesaTierra Garden Residences in Davao City, and Casa Mira South in Naga City, boosted its positive performance for the period. —

Arra B. Francia | July 31, 2017 | Business World Online

#38-Park-Ave #38-Park-Avenue #38-Park-Avenue-Cebu #38-Park-Avenue-In-Cebu #Cebu-38-Park-Avenue
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Cebu Land Masters and Borromeo Tie Up for Hybrid Cebu Office Building

Latitude, a 24-storey corporate center designed for SMEs and large-scale businesses, is a hybrid office building with designated spaces for BPO offices (8th-12th floors), Enterprise offices (14th-16th floors) and Executive offices (17th-24th floors) that range from 60-2,000 square meters.

The versatile office building has a total of 83 units with eight elevators, 246 parking slots, and spaces for retail stores on the ground and second floor.

Latitude will also be the tallest building to be situated in Cebu Business Park. Its architectural design is created by AIDEA Philippines, Inc. with Lee Chui Consultants as the building’s leasing agent.

Latitude is also registered with the Building for Ecologically Responsive Design Excellence (BERDE), a green building rating system which is a Philippine amendment of the Leadership in Energy & Environmental Design (LEED). The center also incorporates eco-friendly features including LED lighting, materials recovery facility, stub-outs for fresh air provision, 20% green spaces, rainwater collection system and 60% glass ratio for natural lighting.

By: Caryll Arcayan | Cebu Daily News | July 25, 2017

#Cebu-Latitude #Cebu-Latitude-Center #Cebu-Office-Building #Cebu-Office-Spaces #Latitude-Cebu-Business-Park #Latitude-Corporate-Center
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How Safe are Cebu’s Buildings if an Earthquake Strikes?

While there was no reported damage on structures in Cebu when the recent 6.5-magnitude earthquake rocked the Visayas, one still can’t help but ask the question: Just how safe are the buildings here, particularly condominiums, from tremors in the future?

People may have become wary of living in multi-level buildings following the 7.2-magnitude temblor that struck Cebu and Bohol in 2013 as well as the Leyte quake last July 6, fearing that these edifices could not withstand strong seismic activities.

Despite this perception, major developers in Cebu assured the public that their properties are safe.

“CLI had been very compliant and has always worked with qualified architectural and engineering designers,” Franco Soberano, chief operating officer of publicly-listed Cebu Landmasters Inc. (CLI) developer of 38 Park Avenue Cebu, said in a text message.

Building, fire codes

Soberano said the best way to disaster-proof developments is by strictly adhering to the building and fire codes of the Philippines.

The developer said the codes are there to protect the users of a building as these take into consideration the local natural environment and climate.

Located within the Pacific Ring of Fire, the Philippine archipelago is home to many volcanoes and fault lines; and, thus, is prone to earthquakes every now and then.

The country also experiences more than 20 typhoons each year, which is also one factor engineers consider when planning for buildings, residential or otherwise.

“Another very important requirement is to do regular and routine checking of all integral parts of the building, including structural, electrical, mechanical, plumbing and fire protection systems,” Soberano said.

CLI has more than 30 projects in the metropolitan as well as beyond Cebu with existing and planned projects in Cagayan de Oro, Davao, Iloilo, Dumaguete, and Bacolod, cutting across the economic segment to the high-end segment of the market.

The same assurance was given by Cebu Holdings, Inc. (CHI), a subsidiary of Ayala Land and is the company behind Cebu Business Park in uptown Cebu City.

“Developments built by Ayala Land and Cebu Holdings, particularly buildings and facilities that are intended to be occupied or contain vital support functions, are not built on top and do not straddle a known fault line,” CHI said.

Technical due diligence

As part of the company’s technical due diligence, geotechnical studies and the required EGGA or Engineering Geological and Geo-hazard Assessments are conducted.

Furthermore, all projects begin after careful assessment and clearances from applicable government agencies and in-house experts.

CHI also continues to explore new technologies in design and construction that advance its communities’ aptitude for disaster resilience.

Cebu Property Ventures and Development Corp. (CPVDC), the firm behind Cebu IT Park, is a joint venture between CHI and the Cebu provincial government.

CHI said that in Cebu Business Park and Cebu IT Park, they make sure that building constructions follow all requirements not less than those required by the National Building Code.

“We do not allow construction to begin unless plans are reviewed and are issued the required construction permit by the Office of the Building Official,” the company said.

National Building Code

Engineer Josefa Ylanan, chief of Cebu City’s Office of the Building Official (OBO), said no permitted residential structure within the city was compromised by the tremors last week.

“If they have secured a (building) permit, that would mean their engineers complied with the requirements as per the National Building Code,” she said in a phone interview.

The National Structural Code of the Philippines, most recently revised in 2010, is based on the National Building Code of the Philippines enacted by Congress in 1972 following the 7.3-magnitude earthquake in Casiguran, Aurora in 1968.

Prior to the 2010 revision, critical changes in the code were also made when on July 16, 1990, a 7.8-magnitude earthquake that hit Baguio led to the collapse of 28 buildings.

The code enumerates a set of requirements that developers and construction companies should adhere to if they intend to keep their buildings from sustaining major structural damage.

Primarily designed to protect homeowners and building occupants, among the guidelines included in the code are choosing safe locations as well as the use of high-quality materials for construction.

“I would say that structures that are permitted have passed National Building Code requirements. We can be confident that these buildings can withstand earthquakes as strong or even stronger than the last one,” Ylanan said.

Magnitude 9 temblors

Ylanan pointed out that before the revisions in the code, buildings could withstand only up to magnitude 7 earthquakes, but can now survive up to magnitude 9 temblors.

Following the Cebu-Bohol earthquake in 2013, Ylanan said contractors revisited their areas to see whether their buildings no longer meet current standards.

“If this is the case, they may recommend retrofitting,” the OBO chief said.
She said no building owner would refuse this as retrofitting a structure would cost less than if something unfortunate happens to the building.


By: Victor Anthony Silva | Cebu Daily News | July 14, 2017


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Aboitiz Units Move to Strengthen Brand Positioning in Cebu

ABOITIZ Equity Ventures, Inc. (AEV), the publicly listed holding company of the Aboitiz Group, announced on Thursday the plans and projects that its business units will undertake to strengthen the group’s brand positioning in Metro Cebu.

The Aboitiz Group moved its corporate headquarters to Manila in 2013 but Cebu—where the company has its roots—continued to be home for some of its businesses such as power, construction, land, and banking and financial services.

“For 2017, the expected boost in the grid’s power supply and improvements in the market will require us to gear up our services and programs to attract more potential customers in our franchise areas,” said Jim Aboitiz, AboitizPower Corp. executive vice president and chief operating officer, Distribution Business Group.

Initiatives of AboitizPower’s wholly owned subsidiary in distribution, Visayan Electric Co. Inc. (Veco), include the creation of satellite offices in large communities for easier handling of customer requirements, the certification of its operations under ISO (International Standardization Organization) 9001 QMS (Quality Management System), the rollout of prepaid metering to allow for better budgeting and monitoring of electric bills, and the launch of a mobile application for easy access to service requests and billing inquiries.

Its underground distribution project from Osmeña Boulevard to P. Del Rosario Street will also continue in 2017.

Veco, the second largest distribution utility in the Philippines, serves the cities of Cebu, Mandaue, Talisay, Naga and four municipalities of the greater part of Metro Cebu.

Aboitiz Construction—under privately-held Aboitiz & Co., Inc.—also sees a busy year coming from its recent rebranding, a strategic move to leverage on the Aboitiz brand and to position the business as a full-service engineering and construction company. Until February this year, the company was known as Aboitiz Construction Group, Inc. (Metaphil).

In 2017, Aboitiz Construction will pursue new revenue sources by expanding its client base for maintenance work projects outside of the traditional mining and shipping industries.

Synergies with sister companies AboitizLand, Pilmico, and Republic Cement will also be strengthened.

AboitizLand expects to maintain its foothold in Cebu alongside its ongoing national expansion plan and the impending transfer of its headquarters from Cebu City to Taguig City. AboitizLand will be building the Foressa Mountain Town residential development in Balamban, as well as mixed-use Gatewalk Central (a joint-venture with Ayala Land) in Mandaue City and another mixed-use project in Liloan.

In banking, CitySavings is expected to sustain year-on-year growth of about 20 to 30 percent this year via maximized partnerships with outsourced financial services provider PETNET, focus on its Mindanao business areas and microfinance business plans, and further development of other products such as its Pensionado Loans.

Parallel to its parent UnionBank’s transformation toward digitization and superior customer experience, CitySavings will also carry out digital transformation initiatives to its online assets, such as enhancing its corporate website and further improvement of its “loan ranger” technology and LoansHub 2.0 system.

BY ABERON VOLTAIRE PALAÑA | The Manila Times | JUNE 10, 2017
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CebuCon Shows Appetite for Cebu’s Property Sector

THE recently concluded Construction Show Cebu (CebuCon) saw another showcase of product solutions, innovations, and expertise that meet the current and future demands of the industry in the region.

Themed “25 Years of Building Business Networks in the Construction Industry in the Southern Philippines,” this year’s CebuCon ran from June 2 to 5 at its new venue, SM Seaside City Cebu.

Over a hundred exhibitors participated in the event which was held in two areas of the mall, the Sky Hall and the Mountain Wing Atrium.

One of the new exhibitors is Carron Group of Companies, which expertise covers project design, planning, operations, manufacturing, supply and installation of facilities and equipment in water parks and entertainment centers, as well as turnkey projects.

Since 1996, it has provided amusement park rides to clients here and abroad including Italy, Saudi Arabia, Qatar, Dubai, New Zealand, Nigeria, Australia, and China.

An active participant of international expos, Carron uses European and American technology with both imported and local parts and components.

In the Philippines, among its clientele are Star City, Sky Ranch Tagaytay, SM Prime Holdings Inc., Star Mall Group, and Hidden Valley Wave Pool Resort in Pinamungajan.

Through the CebuCon, Carron aims to tap the growing number of property developers who see the great business potential in these tourism establishments.

Based on the 2016 report of London-based Timetric’s Construction Intelligence Center (CIC) titled “Construction in the Philippines—Key Trends and Opportunities to 2020,” the Philippines construction industry is expected to continuously grow in the next three years, bolstered by the residential and infrastructure markets.

Meanwhile, BMI Research’s Philippine Infrastructure Report last January predicts that it will grow from P1.09 trillion this year to P1.73 trillion in 2021.

These open new opportunities for L.A. Ducut and Company Inc., in cooperation with Hardwares Consolidated Inc., to make CebuCon even more responsive to the needs of the local construction industry and aligned with the vision of what Cebu has become and is becoming as a major gateway of trade and tourism.

June 07, 2017 | CASSANDRA C. POCULAN | Sun Star Cebu

#Cebu-Construction #Cebu-Property-Boom
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AppleOne Eyes Affordable Housing Projects

MULTI-AWARDED condominium developer AppleOne Properties Inc. (API) is looking at expanding its real estate portfolio to include affordable housing project in the Visayas.

The project will be undertaken by its subsidiary that will specialize in pocket developments within Cebu and neighboring urban centers in the region.

“Having successfully offered products for mid-range and high-end segments, we make it a point to make our corporate social responsibility initiatives more responsive to the housing needs of people who need affordable homes,” said API President Ray Manigsaca.

 The company has not disclosed the name of its subsidiary and the investment allocated for the project, but Manigsaca said the “affordable homes will be managed by our affiliate companies under a more focused brand.”

This announcement came after the recent recognition of API as the winner in the Best Condo Development (Cebu) category for AppleOne Banawa Heights and the Highly Commended recognition in the Best Boutique Developer category in the 2017 Philippines Property Awards.

Manigsaca said the recognition establishes Cebu as a destination for real estate investments, widely acclaimed to be at part with its counterparts in Manila.

He said Cebu continuously attracts real estate investments from Manila-based companies as evidenced by various developments in the city.

Under its wing, AppleOne Equicom Tower, Diamond Suites and Residences, Boardwalk City Residences and AppleOne Banawa Heights are the condominium developments of the company.

“We take our developments close to our hearts from architectural design, material selection and careful execution. (Our developments) are winning pieces of art and the award is just an affirmation of our commitment to deliver the best projects which Cebu can be truly proud of,” said Manigsaca.

Manigsaca said the company’s approach for future developments will continue to look after customers’ needs for location, convenience, sophistication and functionality with careful attention on the uniqueness of design and sense of pride among unit owners.

Manigsaca said the story of the Cebu real estate sector is a narrative whose plot continues to unfold.

“The Cebu Real estate industry will continue to grow at a more reasonable pacing that will gradually define its property inclinations toward tourism and hospitality facilities, commercial spaces and residential enclaves,” he said.

By: Cris Evert Lato-Ruffolo | Cebu Daily News | June 2, 2017

#Apple-One-Banawa #Apple-One-Cebu #AppleOne-Banawa #AppleOne-Cebu #Cebu-Real-Estate
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BDO: Move in to Your New Home Soon

AS YOU can imagine, there’s nothing quite like purchasing your own home in the Philippines—from finding the perfect location, planning the design and structure, choosing all the fixtures and finishes and finally, moving in. It’s an exciting, life-changing adventure all its own.

While most people aspire for owning a home, the prospect of buying one can still seem daunting for some—whether first-time or second home buyers. For one, you need to get your finances in order, know all the facts and figures even the possible hidden costs and be prepared to take on the series of responsibilities that come with buying/owning a home.

Costs of Owning A Home

When buying real estate property in the Philippines, it is important to remember, that it’s not just the upfront costs (reservation fee, downpayment, etc.) you should prepare for. There are also the costs and charges that you must settle after you’ve finally purchased your new home. By being aware of these expenses, you can fully prepare your finances.

Here are the most common closing costs and other fees involved in buying a home.

Real Estate Tax or Amilyar

This is a government tax that real estate owners are required to pay every year in order to retain ownership and title of the property.

Tip: When you pay your Real Estate Tax early, you can enjoy tax discounts of as much as 20%, depending on your city.

Condominium fees

For condominium owners, in order to enjoy the shared facilities, one must become a member of the condominium homeowners’ association. Thus, a membership fee and monthly association dues are required. Other condominium-related expenses include utility connection and deposit. This payment is needed to get electricity and water connection up and running since not all developers take care of these utilities before turnover.

Miscellaneous fees

These are extra fees incurred after you have successfully purchased your new home such as home insurance, moving services, maintenance fees, etc.

The costs might seem overwhelming, but the thing is, you don’t need to have a large income in order to own a home. Just a good savings plan, the right financial partner and the commitment to make it possible.

A home within reach

With BDO Home Loan, you can move in to your desired home much sooner!

BDO partners with the biggest and most trusted names in the real estate industry, giving you a wide array of options ranging from single detached homes to mid and high-rise residential complexes perfect for independent bachelors and bachelorettes or for your growing family.

Sun Star Cebu | May 31, 2017

#Owning-A-House-In-Cebu #Owning-Property-In-Cebu
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