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…
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…
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.…
Property giant SM Prime Holdings provided about P23 billion worth of rental concessions last year to help shopping mall tenants across the country stay afloat amid lockdown restrictions imposed by the government to curb the COVID-19 pandemic. “We are continuously assisting our business partners, most especially our mall tenants, who are badly affected by community…