ALVEO LAND Corp., Ayala Land, Inc.’s middle-income market arm, aims to sell within this month half of units at the first tower of Solstice, Alveo Land’s first condominium development at Circuit Makati.

Source: F. J. G. de la Fuente of Businessworld Online

“The Group (Century Properties) budgeted between P7,200 million to P8,200 million for capex for 2013 primarily to fund the development of its four master-planned community project,” read the report.

The company was referring to its four ongoing master-planned projects:

• Century City, a 3.4-hectare mixed use project in Bel-Air, Makati City that will have eight condominiums, a shopping mall, and a medical outpatient facility when completed;

• Acqua Private Residences, a six-tower residential development in Mandaluyong City beside Pasig River;

• Azure Urban Resort Residences, a nine-building, six-hectare development in Parañaque City that will have a man-made beach and club designed by socialite Paris Hilton; and

• Canyon Ranch, a 25-hectare subdivision within the 77-hectare San Lazaro Leisure Park in Cavite City.

FUNDING SOURCES
In February last year, Century Properties earmarked as much as P8.3 billion for capex but actually spent P7.26 billion, according to the annual report.

Century Properties said it plans to bankroll spending this year through various sources.

“The Group expects to fund budgeted capital expenditures principally through existing cash and cash from operations, through borrowings and through its share offering,” the company added in its annual report.

Last March, Century Properties raised approximately P1.64 billion from an overnight, discounted sale of 800 million shares at P2.05 apiece to various institutional investors.

GROWING
Century Properties, a developer of high-end properties, debuted on the Philippine Stock Exchange via backdoor listing in September 2011, replacing dormant energy firm East Asia Power Resources Corp.

As of end-2012, the developer had already completed 5,560 residential units in 21 condominium buildings in Mandaluyong, Makati, Pasig, Quezon, and Taguig cities, all with a total gross floor area of 669,857 square meters (sq. m.), the annual report read.

It was also managing 51 residential and commercial properties by the end of last year.

Century Properties more than doubled its net income to P1.86 billion last year from P866 million in 2011 on the back of a surge in revenues from the firm’s property projects, which more than doubled to P9.60 billion from P4.70 billion.

The company aims to grow its net income to P3 billion, and its pre-sales to P30 billion by 2015 — the firm’s 30th year in real estate — on the back of more projects in key growth cities outside Metro Manila and the development of some 100,000 sq. m. of land for commercial projects.

Shares of Century Properties jumped by five centavos or 2.38% to close at P2.15 apiece on Friday last week from their Thursday finish of P2.10 each. –

Source: F. J. G. de la Fuente via Businessworld Online

“We just came around an agreement to talk and come around with the land values. There are studies we have to do prior to the actual due diligence work, and the due diligence would take about maybe 120 days or so. Four months to be able to complete the detailed due diligence,” Antonino T. Aquino, Ayala Land president and chief executive officer, told reporters in a chance interview at Globe Circuit Event Grounds in Makati City on Saturday.

Last April 26, Ayala Land inked an agreement, subject to further discussion, to acquire “certain landholding assets” of Boulevard Holdings, with Ayala Land’s upscale brand Ayala Land Premier expressing “preliminary interest” in some of Boulevard Holdings’ properties.

When asked which Boulevard Holdings’ assets were in Ayala Land’s radar as well as their size, Mr. Aquino said: “That’s also part of what has to be determined, but it’s in Ternate, Cavite. Probably one of the areas they have, because it’s a very large area,” he said.

Boulevard Holdings is a holding company established in 1994, with primary interests in hotel, resort, and tourism-related developments. Since 2011, Boulevard Holdings has been scouting for foreign and local partners to develop the firm’s 3,000-hectare Puerto Azul resort in Ternate.

“We have always been talking about leisure-type communities, exactly similar to what we have in Anvaya (Cove), and something like what we will be doing in the El Nido Resort area, so the concept is really to be able to come around with those type of leisure-oriented communities,” Mr. Aquino said when asked to elaborate on possible plans on Boulevard Holdings’ assets.

In Bataan, Ayala Land has developed in partnership with Subic Bay Development and Industrial Estate Corp. Anvaya Cove, a 320-hectare leisure complex while in El Nido, Palawan, Ayala Land has developed and currently operates an island resort complex consisting of the Lagen, Milinoc, Apulit and Pangulasian Island Resorts.

Ayala Land was organized in 1988 when parent Ayala Corp. decided to spin off its real estate division into an independent subsidiary to enhance management focus on real estate.

Ayala Land has earmarked P65.5 billion for capital expenditures this year — P46 billion for project completion and roughly P20 billion for land banking — to bankroll the construction of about 69 property projects valued collectively at P129 billion.

Source: Business World Online

ALI has agreed to take a 55-percent stake in the joint venture with the Vicsal group of Cebu to develop the property across from the plush Shangrila Hotel on Mactan Island.

“This joint venture opens up another opportunity to work with a strong partner, such as the Vicsal group, in expanding our presence and further creating value in the rapidly-growing and progressive market in Cebu,” ALI president Antonino Aquino said in a statement issued Friday night.

The property would be envisioned as an integrated mixed-use development with a leisure-oriented character, possibly with residential, retail and hotel components, ALI said.

The proposed development is seen offering a value proposition distinct from that of the other projects of Ayala Land in Cebu City. “Through this joint venture with the Vicsal group, Ayala Land hopes to further strengthen and expand its presence in the robust Cebu real estate market,” the statement said.

This is the third property deal announced in a single week by ALI, reflecting the property developer’s aggressive expansion of its landbank in key growth areas. Earlier last week, ALI signed a joint venture to pursue property development projects in Cebu with Aboitiz Land and also entered into a preliminary agreement to acquire some properties of the Panlilio-led Boulevard Holdings Inc., one of the biggest seaside landowners south of Metro Manila.

ALI is taking the lead in the project but apart from just contributing the land, Vicsal is expected to contribute funds for the mixed-use project.

The Vicsal group refers to a branch of the vast Gaisano clan rooted in Cebu. The group is run by siblings Margaret Gaisano-Ang, Jack, Edward and Frank Gaisano. Under Vicsal Development Corp. (named after their parents Victor and Sally), the Metro Gaisano group operates a chain of shopping malls and department stores.

The transaction also marks an expansion of Vicsal’s relationship with the Ayala group. Metro Gaisano, for one, is an anchor locator at Ayala Center in Cebu and is likewise present in Market! Market! in BGC as well as in ALI’s Alabang, Imus and Marquee mall developments.

By Doris C. Dumlao

“Megaworld’s Newest, Fully-Fitted Residential Development in Greenbelt Makati , and soon to be the Most Coveted Residence in the Metro.”

LEGASPI ST. LEGASPI VILLAGE MAKATI
A new life awaits you! In Tradition of building you truly the best of what life can offer, one of the premier property developers in Metropolitan Manila is proud to introduce Our Newest and Most awaited Residential Tower of the Year, The Greenbelt Hamilton!

Expectedly remarkable and surprisingly affordable, The Greenbelt Hamilton is an exquisite 31-storey Modern Contemporary Residential Tower of class and beauty, and is the epitome of the ” New York Style Living” – utmost convenience, pure indulgence, and great accessibility.

The Greenbelt Hamilton lies at the heart of Makati `s Central Business District, the most prestigious and most desired real estate in the city. Known as the Business and Entertainment Capital of the Philippines , Makati City is the hub of the future where close to 3,000 dining establishments, 6 Five-Star Hotels, the hottest nightspots and the country’s top shopping malls are located. While residents get full access of the exhilarating Makati Lifestyle, schools, churches, banks, embassies, hospitals ( Makati Medical Center ) and Greenbelt Shops and Restaurants are just never more than a few minutes away.

Discovery Primea is a 68-storey residential tower and one of the tallest buildings in the Philippines located in Makati along Ayala Avenue. It stands on the former Gilarmi Apartments, one of the earliest urban residential condominiums built in the CBD of Makati. JTKC, Inc. is the developer of the residential condominium and one of earliest developer of residential condominium units in the Philippines. The also owns the Discovery Suites, a condotel in the Ortigas business district in Mandaluyong City.

So could this already be the Tallest Building in the Philippines? If it were an office building they can put up a spire to make it way taller. Much excitement for the completion of this welcome addition to the Makati Skyline.

Century City in Kalayaan Avenue, Makati is a 3.4-hectare integrated community that will comprise an IT Park including the outpatient medical-IT center called Centuria Medical Makati; private luxury residences including The Gramercy Residences, The Knightsbridge Residences, The Milano Residences and Trump Tower Manila; and a retail center with high-end boutiques and concept stores.

Medical Plaza Makati, Medical Plaza Ortigas and the medical arts building of Asian Hospital in Alabang are the Philippines’ first series of medical arts buildings developed by Century Properties that house doctors’ clinics. The best testament of our services in the operations and management of medical facilities is in Makati Medical Center, which is under the care of Century Properties Management Inc.

In 2010, we partnered with GE Healthcare and launched the newest addition to this roster: Centuria Medical Makati. The first one-stop, outpatient medical centre in the Philippines, Centuria will feature modern equipment and operationally-efficient systems for the convenience of doctors and patients.

Essensa East Forbes, voted by Asiaweek Magazine as the Philippines’ best residential building remains to be one of the most highly-regarded residential properties in Metro Manila. Designed by the legendary Pritzker Prize-winning architect I.M. Pei and built with Italian Travertine stone, the same material used in the Colosseum in Rome, it is a Philippine landmark and standard of hyper-luxury living.

Soho Central, South of Market, Grand Soho Makati (with 3 interior design options), The Gramercy Residences at Century City (with 6 interior design options), and The Knightsbridge Residences at Century City (with 5 interior design options) are the Philippines’ first series of Fully-fitted and Fully-furnished condominium developments.

Soho Central is the Philippines’ first transportation-oriented development, designed with a direct link to the Metro Railway Transit.

The Philippines’ first Fully-furnished homes in Asia is The Casitas at Canyon Ranch, the Philippines’ fastest-selling community in the South, Canyon Ranch, and its third phase called The Moderno, all located within the San Lazaro Leisure Park in Carmona, Cavite.

Located within San Lazaro Leisure Park in Carmona, Cavite, the California Ranch-inspired Canyon Ranch is the Philippines’ fastest-selling community in the South that also features The Moderno, homes that pay homage to a minimalist and modern design philosophy.

The Azure Urban Resort Residences, a 6-hectare development with 9 proposed buildings located on SLEX West Service Road in Paranaque City, the first man-made beach residential resort development in the country also features the Paris Beach Club.

Acqua Private Residences is the country’s first residential Eden. The 2.4-hectare, 6-tower development’s concept is centered on bringing the beauty of the majestic tropical rainforest into the metropolis, and with such exciting features as the Riverwalk Promenade of boutiques and restaurants, and the Pebble Country Club.

Century Properties is the first Filipino real estate firm to develop in Manhattan, New York (on 5th Avenue and 56th Street) a luxury condominium called The Centurion, also designed by the legendary architect I.M. Pei and regarded as one of the newest and exciting developments in a premiere part of Manhattan.

Property giant Ayala Land Inc. announced on Wednesday the construction of four 14-story towers of the Avida Towers and nine seven-story buildings of the Avida Storeys condominium at the 5.5-hectare Atria, the residential component of the Atria Park District in Mandurriao, Iloilo City. Development cost of the residential community is estimated at P6 billion.

The Atria will be part of Ayala Land’s P15-billion venture to develop the 21-hectare Atria Park District, which, aside from Avida Land’s residential developments, will include parks and landscaped areas, commercial and office establishments, an Ayala-owned and -managed hotel and the University Physicians Medical Center-Iloilo.

The Atria will be a neighborhood center with an integrated retail strip, a promenade and a spacious landscaped plaza to further heighten its community experience. Aptly derived from the word atrium, Atria will serve as a respite from the bustling city life with approximately 53 percent of its area dedicated to amenities, open spaces and landscaped greeneries.

In a 10-year period, Ayala Land will be constructing a total of 2,500 units, through its housing arm Avida Land Corp. which targets the middle class. Avida Land is taking charge of the first phase construction of the mid-rise Towers Atria and low-rise Storeys Atria, which will have 509 units. The groundbreaking ceremony is scheduled on the third quarter of 2013, with turnover of units expected by the third quarter of 2016.

Among the amenities are adult and kiddie pools with a lounge, sitting nooks, outdoor gym, jogging path, a play area, landscaped areas, clubhouse and retail strip on the ground floor.

Atria will be accessible to the business process outsourcing offices of the Iloilo-Ayala Land TechnoHub, schools such the Ateneo de Iloilo and the University of the Philippines-Visayas, churches, hospitals, entertainment strips and hotels.

It will be Avida Land’s second project in Iloilo. The first was in 2010 when it completed the 24-hectare house and lot development called Avida Village Iloilo.

The development of the Atria and the Atria Park District is Ayala Land’s bid to expand further in Iloilo City. Avida Land president and CEO Chris Maglanoc said the Atria signifies their aspirations for a long-term presence in the area.

Maglanoc said: “We are here to expand Ayala Land’s footprint, which means we are bringing the Ayala lifestyle experience closer to the Ilonggos. [The] Atria is an exciting development that complements the holistic lifestyle envisioned for the entire Atria Park District.”

Chief architect and Innovations and Design group head Joel Luna, for his part, said the “Atria [will be] the symbolic heart of our development for Iloilo City.”

Expressing his agreement with Maglanoc, Ayala Land president and CEO Tony Aquino said: Ayala Land is proud to bring “a complete live-work-play experience for the Ilonggos in a sustainable community. It is continuing its tradition of building large-scale, integrated mixed-use communities in key growth areas across the Philippines.”

Aquino is hopeful that this major investment will help in the further development of Iloilo City.

By: Noli A. Ermitanio
Source: Inquirer

“Sky Ranch is targeted for opening by May 2013. It will be a leisure park that will offer the definitive Tagaytay experience to both local and foreign tourists, as well as provide a relaxing family retreat,” SM Land said in SMIC’s 2012 annual report released on Thursday last week.

According to SM Land, Sky Ranch sits on a five-hectare property beside Taal Vista Hotel — operated by SM Land’s sister firm SM Hotels and Conventions Corp. — along Aguinaldo Highway and will feature horseback riding facilities, an amusement park, gazebos, restaurants, and a 2,000-square-meter events tent.

The amusement park, which will include a 63-meter high Ferris wheel, will be operated by SM-controlled Family Entertainment Center, Inc., David L. Rafael, SM Land Commercial Properties Group senior vice-president, said in an interview following an SMIC briefing at SMX Convention Center, Pasay City last Thursday.

Upon completion, Sky Ranch will join SMIC’s three other developments in Tagaytay City: Wind Residences, a residential condominium under SM Development Corp.; Tagaytay Highlands, an upscale mountainside residential resort by affiliate Belle Corp.; and Taal Vista Hotel, formerly known as Taal Vista Lodge.

Tagaytay City, a 6,500-hectare, second-class city in the province of Cavite, according to its Web site, is known as the country’s so-called “Second Summer Capital” and is currently a significant tourist hot spot.

“Tagaytay City continues to be one of the major tourist destinations in the country. Apart from the view of Taal Volcano, Tagaytay (City) boasts of various attractions, such as historical landmarks, the Japanese Garden, the Tagaytay Highlands, People’s Park in the Sky, Picnic Grove and Livelihood Complex, and museums (Character Museum and Museo ng Tagaytay),” the city government said in its City Development Strategies report on its Web site.

MORE ON THE WAY
Mr. Rafael said that a sequel development to Sky Ranch could be introduced later this year.

“We are cooking up something. Let’s just say we’re going to do certain formats that the SM Group has not been known for — small developments, around only one hectare (each) — but we can’t disclose yet. We could possibly launch one more this year,” Mr. Rafael said, without elaborating.

SM Land, known as Shoemart, Inc. until late 2008, is into property management and construction, as well as commercial and office space leasing. It is the holding company for non-mall, property-related subsidiaries and projects of the SM Group.

SM Land is currently building ThreeE-com Center, a premier office hub in the Mall of Asia Complex in Pasay City, as well as SM Cyber West Avenue, an eight-storey business process outsourcing center at the corner of EDSA and West Avenue in Quezon City.

SMIC, SM Land’s parent, is the listed holding company of the SM Group with interests in shopping mall development, retail merchandising, financial services, real estate development and tourism, as well as hotels and conventions.

SMIC has allotted roughly P65 billion — a record figure — for capital spending this year, up from P56.80 billion in 2012, mostly for mall development arm SM Prime Holdings, Inc. and condominium developer SM Development Corp.

Shares of SMIC gained P2.00 or 0.18% to P1,141.00 apiece on Friday last week from P1,139.00 last Thursday

By: Franz Jonathan G. de la Fuente
Source: Business World Online

Speaking on the sidelines of the company’s stockholders’ meeting on Monday April 22, Armin Antonio Raquel-Santos, deputy head of Belle, said that they’ve asked the Philippine Amusement and Gaming Corp. (Pagcor) for additional 10 hectares of land to be used for another mixed-use casino resort.

Belle, one of 4 groups with licenses to operate in Entertainment City, is pouring $1 billion into its Belle Grande Manila Bay, a project it is now building with regional casino player Melco Crown Entertainment.

So far Belle said they have invested nearly $700 million in the ongoing development, which takes up 6.2 hectares of land.

“We still need more land. We’ve committed to reach the $1-billion mark in investment,” said Raquel-Santos.

Raquel-Santos said the additional land should be acquired in the next one to two years.

Belle Grande is scheduled to open in the third quarter of 2014. The opening was delayed due to Pagcor’s rule requiring investors to build a minimum of 800 hotel rooms before opening their casino resorts.

Manuel Gana, executive vice president and CFO of Belle, said their integrated resort would feature branded hotels, including some first entrants.

“Unlike the other resorts, we’ll be complete when we open. We will have all entertainment and thematic attractions. It won’t be a piecemeal approach,” he said.

Another licensee, Bloomberry Resorts Corp., led by Enrique Razon Jr., launched its Entertainment City casino project Solaire last March.

ANNUAL MEETING. Key officials of Belle Corp. tell stockholders on April 22, 2013 that the company’s first quarter performance was ‘fantastic.’ Photo by Aya Lowe

Financial results

According to Gana, Belle’s first-quarter 2013 financial results to be released Tuesday, April 23 have been “fantastic” and would “set the trend for the next year.”

In 2012, Belle’s net income almost tripled to P556 million from P200 million in 2011.

One of the main drivers of Belle’s income growth was a P540 million liquidating dividend gain from its investment in Belle Bay City Corp.

Source: Rappler.com