Property developer Sta Lucia Land Inc. (SLI) nearly doubled its net profit in the second quarter from the level a year-ago at the height of lockdown restrictions triggered by the coronavirus pandemic. SLI’s April to June net profit hit , up by 98.7 percent from P259.18 million last year, as earnings from residential development and…
DMCI Power Corp. (DPC) has earmarked P3.5 billion to expand a fleet of generators in Masbate and Palawan by a total of 27 megawatts. The Consunji-led off-grid power producer said of that investment kitty, about P2.7 billion would be used to build a coal-fired power plant in Narra, Palawan while P800 million would be spent…
Leading mass housing developer 8990 Holdings has secured enough land inventory to unlock P201 billion in potential real estate sales across the country in the next seven to 10 years. By next year, 8990 expects revenues and earnings to return to its prepandemic trajectory as the economy rebounds from the havoc created by the prolonged…
DMCI Mining Corp.’s profitability soared during the first semester of the year after recording about a 400-percent increase in its net income to in the same period last year. In a press release, the subsidiary of Consunji-led DMCI Holdings said it was able to ship 1.24 million wet metric tons of nickel ore between January…
Conglomerate Lopez Holdings reversed in the second quarter the net loss it incurred in the same period last year at the peak of pandemic-induced restrictions that choked businesses. Lopez delivered a second quarter net profit of , a turnaround from the net loss of P881 million seen last year. Compared to the first quarter’s net…
COVID-19 is directly impacting infrastructure services around the world. Demand for existing infrastructure has fallen sharply. Construction of new infrastructure has slowed, if not stalled, everywhere. The COVID-19 crisis is also unique in the suddenness and the severity of its impact on the economy and infrastructure usage. While some infrastructure sectors like health and ICT…
The Philippine chapter of the Paris-based International Real Estate Federation (FIABCI) remains upbeat on the property sector’s recovery from the market slump beginning in the fourth quarter this year despite the surge of the delta variant. Reghis Romero II, former chair and now president of FIABCI-Philippines, cited the country’s continued infrastructure buildup, low interest rate…
CEBU CITY—Not even the COVID-19 pandemic can stop this new “city” from rising at the South Road Properties, a 300-hectare reclaimed area in the southern part of Cebu City. The construction of the South Coast City is in full swing—while strictly complying with health protocols—to meet its target completion by the second quarter of 2022.…
A year after debuting on the local stock exchange, real estate investment trust (REIT) first-mover AREIT Inc. announced that it was on track to achieve carbon neutrality by the end of the year as it committed to attain net zero greenhouse gas emission by end-2022. From an initial public offering (IPO) price of P27 per…
The COVID-19 pandemic showcased the resilience, flexibility and adaptability of the Philippines’ property sector, putting it in a good position to emerge stronger from the health crisis. Although the “landscape” might, or would, change, panelists at a recent Inquirer Project Rebound webinar all expressed optimism that the industry would recover and, to use US President…