Imagine a green oasis rising from the sandy environment of Porac, Pampanga. Robinsons Land sets its sights on developing this 216-hectare property into a sustainable development called the Montclair Destination Estate. Montclair, a mere 5-minute car ride from the Clark Freeport Zone, is the Gokongwei-led Robinsons Land’s biggest development yet in terms of…
To say that the past 2 years changed the way we work is an understatement. The pandemic has pushed businesses and corporations to create new and better strategies to stay afloat in their respective industries. Considering people have not been able to travel for the past 2 years, there is an anticipation that the tourism…
In previous columns, I highlighted how the pandemic affected the Philippine property sector. At the height of this crisis, we saw negative office take up, correction of condominium rents and prices, and decline in mall space rents due to substantial drop in consumer traffic. In the past quarter however, property developers and investors are aggressively…
Yuchengco-led construction firm EEI Corp. has returned to the local stock market for the first time in 14 years, raising P6 billion from a warmly received offering of preferred shares. EEI’s offering of series A and series B preferred shares, which ended on Dec. 15, had been oversubscribed by 4.85 times the base offer of…
A sharp earnings rebound awaits Philippine property firms in the next 12 to 24 months, driven by the recovery of mall rental revenues as well as the resumption of residential construction and selling activities, said First Metro Securities Brokerage Corp. First Metro Sec’s top picks in this favored sector are: “Our selection process is based…
The Philippine office property segment is seen to end this year on a strong note, with demand for additional office space from the level in 2020 when the pandemic disrupted most businesses, thanks to the resilient business process outsourcing (BPO) industry. This is according to property consulting firm Leechiu Property Consultants (LPC), which estimated full-year…
Property giant SM Prime Holdings (SMPH) booked P15.6 billion in net profit at end-September, up 9 percent year-on-year, as the company kept a tighter lid on expenses, while other income made up for the decline in shopping mall and residential development revenues. For the third quarter alone, , flat from the P3.94-billion bottom line seen…
The Securities and Exchange Commission (SEC) has approved a re-initial public offering (re-IPO) of as much as n planned by electricity superhighway operator Synergy Grid & Development Phils. as well as a re-IPO of up to P7.5 billion sought by liquor, wine and specialty beverage retailer The Keepers Holdings Inc. The SEC likewise approved the…
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…
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…