Amberland is selling its rights for the second tower of Skyway. They just can't wait for Chika Go's side anymore.

What does that suppose to mean? :dunno:

What does that suppose to mean? :dunno:

sorry, I mean the rights to build Tycoon Tower 2.

my bad! :D

Phew....lol! So I guess no Tycoon Tower 2 now by Amberland, eh? Although would be nice if someone does finish building it. Those rebars at its podium are gonna be such an eyesore seen from my Millenia unit... :puke:

^^ yeah, they're looking for a developer who would be interested to finish the second tower. sounds like Amberland is giving up on it. :D

Actually for the fort. It's both condos and office buildings. e.g. Charlie jsut signed with Ascendas for a bunch of buildings, and he knows he's got to rush to beat the market. Most of the people who are building are all thinking the same thing, put up an office building, grade A but very fast to build (i.e. shorter), not much longer than a 2 year period, just in case there is a glut. Everyone I talk too is now abuzz with RE talk, which reminds me of Joe Kennedy's (Jacks Dad) who said he got out before the 1929 crash because his shoeshine boy was giving him stock tips. I don't think it's that bad yet but there really is a rash of projects coming up. Though I've not heard of any talls one, for commercial office it's mostly quick short.

on a side note...

MABUHAY WE'VE GOT ORTIGAS AS OUR SSC BANNER!
Whose pix is that, nice one . from the elevation my guess is that megaworld development near cherry foodarama. Or baka even further as the pix looks cropped from a huge wide angle. in any case congrats nice one.

You know the lady on the banner on St. Francis Square? I know her, she's probably in hiding everytime she sees her 200 foot self seen all over ortigas

Manila Jockey Club joining BPO raceBY LIZA REYES

Gaming and property firm The Manila Jockey Club is joining the booming business process outsourcing (BPO) business to derive revenues from some of its existing property assets, company chairman and chief executive Alfonso Reyno Jr. told ABS-CBN News in an interview.

The Manila Jockey Club -- Southeast Asia's oldest racing club which was founded in 1867 -- will lease its 3.5-hectare property in Sta.Cruz, Manila to a local consortium that will construct buildings for a BPO office.


Initially, it will construct two 20-storey buildings at a cost of P3-billion. Reyno said it will take 16 months to complete the BPO facility.

"We're currently set to close a deal with a consortium composed of a big local developer and two foreign financial institutions. We're just negotiating the rental rates but we can most likely conclude this within a month," Reyno said.

"We will be leasing the property because the shareholders through the board of directors have decided that we keep 3.5 hectare property at the old side of the race track for sentimental reasons. We located the race track there for almost a century and that will also ensure perpetual recurring income for the Manila Jockey Club, " Reyno said.

At the same time, Manila Jockey Club's prime Carmona property will also host a BPO office. Reyno said his firm was reserving 4 hectares of their 60-hectare Carmona, Cavite property for a BPO hub.

"The trend now is to locate BPO operations outside Metro Manila because (BPO offices) are running out of agents and workers. They go to Cebu, Negros, Dumaguete and Baguio," Reyno said.

"Carmona is a great choice because it is only 30 minutes away from Makati and is surrounded by industrial estates," he said.

Shares of The Manila Jockey Club were untraded on Monday. It closed at P3.70 when it last traded on the exchange, off its year high of P4 that was hit on January 25.

The horse racing operator is the latest to join the growing list of property developers that are leasing spaces to BPO offices. Some of these developers include Ayala Land Inc., Robinsons Land Corp. SM Development Corp., and Megaworld Corp.

In 2001, The Manila Jockey Club sold 4 hectares of its 16-hectare San Lazaro property to SM Prime Holdings, which built the SM San Lazaro mall on the property.

The Manila Jockey Club also entered into a joint venture agreement with Ayala Land, which developed the Avida housing community.

MABUHAY WE'VE GOT ORTIGAS AS OUR SSC BANNER!
Whose pix is that, nice one . from the elevation my guess is that megaworld development near cherry foodarama. Or baka even further as the pix looks cropped from a huge wide angle. in any case congrats nice one.

I think it's from the tallest tower of Megaworld's Wack-Wack Heights project.

You know the lady on the banner on St. Francis Square? I know her, she's probably in hiding everytime she sees her 200 foot self seen all over ortigas

I thought it's Bianca King. Or iniimagine ko lang? Well, i think that's something to be proud of. To have your face flashing on that tall structure. Which is an unfinished structure by the way. Who cares, basta andun mukha mo. :cheers:

^^ Ilang beses ko nang nakita yung billboard pero di ko naman napansing si Bianca King yung nandun.

meron na bang thread ito? :dunno:

http://img20.imageshack.us/img20/2262/dsc02063ho8.jpg

http://img504.imageshack.us/img504/9364/dsc02064xd3.jpg

http://img20.imageshack.us/img20/4084/dsc02066it7.jpg

http://img402.imageshack.us/img402/6282/dsc02067nq4.jpg

meron na bang thread ito? :dunno:

[IMAGE]

[IMAGE]

[IMAGE]

[IMAGE]My goodness....the color and architecture look ridiculously similar to Forbeswood Heights. So I'm pretty sure Megaworld is behind this?

^^ if i'm not mistaken.., yes.

extension pala to nung mga nasa harapan niya,. not to mention it has the same design with his short sisters across the street.

Yup Megaworld for sure, I think this posted here before though

I thought it's Bianca King. Or iniimagine ko lang? Well, i think that's something to be proud of. To have your face flashing on that tall structure. Which is an unfinished structure by the way. Who cares, basta andun mukha mo. :cheers:

Its not bianca king, just another model, she actually looks better, and sexier (hope she doesn't read this) in the billboard then sa personal, courtesy of photoshop and photogenic hehe. Thinks she got 500k for that

^^ Patay-patay kang bata ka pag nabasa nya 'to. :hilarious It can also be a blessing for you since that post can provoke her to dress and act sexier the next time you meet to prove you wrong. :D

^^ But the kicker is she will make it a point to flirt with other guys instead of him for saying such a thing in a public forum! Hehehe...:) :) :)

btw a credible birdie told me that Robinsons is studying and about to announce a Class A commercial office project for Ortigas Center. This is not like Cybergate but upspec. Don't know if it's going for very tall but it is a skyscraper. Perhaps nabili na nila ang Philcomcen, would make sense for them.

Also from Cocktales to be taken with a Ton of salt.

Lucio Tan joins Greenbelt race

February 21, 2007

TAIPAN Lucio Tan is moving right into the turf of the Ayalas, and is building a high-end residential condo right across the upscale Greenbelt mall while the real estate market is still on the upward trajectory.

Tan is demolishing the 10-storey, 1978-era Philippine Airlines building on Legaspi St. to give way to a high-rise condo to be named Eton Greenbelt Residences, Cocktales has confirmed.

And, as if to underline the class A-and-B image of his new baby, the frugal taipan has agreed to move next week’s launch/press conference from his decor-challenged Chinese restaurant in the Allied Bank building to the Shangri-La Edsa Plaza hotel.

Moreover, the media-allergic dollar billionaire will himself be present at the press conference and is even bringing along his younger brother Harry to take questions from nosy newsmen.

Unknown to the local public who are used to his low-cost image, Tan actually owns a couple of European style-boutique hotels in Hong Kong, also under the Eton brand.
In Shanghai, Tan has soft-opened the 462-room five-star Eton Hotel right in the heart of the Pudong financial district, targetting Western business travellers.

Going back to PAL, the relocation of airline personnel has actually started quietly, with the transfer of the backroom operations to the Ricogen building on Gamboa St., behind the Asian Institute of Management.

The administrative services staff, in the meantime, are being moved to the new NAIA Terminal 3, hopefully in time for next month’s opening of the much-delayed facility.

The ticketing and other front-line services will, however, still be maintained within the Ayala business district, most likely at the Allied Bank building which has a wide and pedestrian-accessible frontage not only along Ayala Avenue but beside a leafy walkway which it shares with PLDT.

wow. i know that place. it's very much near BSA Tower, if not right beside it. oh hopefully not.

so it's not bianca king? i thought it was her.

couldn't megaworld create something better??? looks really bad..

Lucio Tan joins Greenbelt race

February 21, 2007

TAIPAN Lucio Tan is moving right into the turf of the Ayalas, and is building a high-end residential condo right across the upscale Greenbelt mall while the real estate market is still on the upward trajectory.

Tan is demolishing the 10-storey, 1978-era Philippine Airlines building on Legaspi St. to give way to a high-rise condo to be named Eton Greenbelt Residences, Cocktales has confirmed.

And, as if to underline the class A-and-B image of his new baby, the frugal taipan has agreed to move next week’s launch/press conference from his decor-challenged Chinese restaurant in the Allied Bank building to the Shangri-La Edsa Plaza hotel.

Moreover, the media-allergic dollar billionaire will himself be present at the press conference and is even bringing along his younger brother Harry to take questions from nosy newsmen.

Unknown to the local public who are used to his low-cost image, Tan actually owns a couple of European style-boutique hotels in Hong Kong, also under the Eton brand.
In Shanghai, Tan has soft-opened the 462-room five-star Eton Hotel right in the heart of the Pudong financial district, targetting Western business travellers.

Going back to PAL, the relocation of airline personnel has actually started quietly, with the transfer of the backroom operations to the Ricogen building on Gamboa St., behind the Asian Institute of Management.

The administrative services staff, in the meantime, are being moved to the new NAIA Terminal 3, hopefully in time for next month’s opening of the much-delayed facility.

The ticketing and other front-line services will, however, still be maintained within the Ayala business district, most likely at the Allied Bank building which has a wide and pedestrian-accessible frontage not only along Ayala Avenue but beside a leafy walkway which it shares with PLDT.

I hope "Eton Greenbelt Residences" would also look like a Manhattan skyscraper like The Shang and Enterprise. Forget about BSA Tower! :lol:

btw a credible birdie told me that Robinsons is studying and about to announce a Class A commercial office project for Ortigas Center. This is not like Cybergate but upspec. Don't know if it's going for very tall but it is a skyscraper. Perhaps nabili na nila ang Philcomcen, would make sense for them.


Sounds good.:okay:

Guess there's much more fire behind the smoke.

Vol. XX, No. 148
Thursday, February 22, 2007 | MANILA, PHILIPPINES

Today’s Headlines

By JENNEE GRACE U. RUBRICO, Sub-Editor
Backdoor listing for Tan firm
Holding firm Balabac Resources now property developer Eton Properties

Taipan Lucio Tan has listed his newly established property development firm at the Philippine Stock Exchange - and he did so via the back door.

In a special meeting called yesterday by publicly listed Tan firm Balabac Resources and Holdings Co. Inc., stockholders approved a change in name to Eton Properties Philippines Inc. Stockholders also changed the firm’s primary function to property development from a holding company that had oil exploration interests.

During the meeting, all Balabac officials resigned and were replaced by Eton executives, led by Mr. Tan himself as chairman. The firm also moved its general stockholders meeting to April 10 from February 23.

By changing Balabac’s name and primary function, Eton Properties, a firm that BusinessWorld reported that Mr. Tan created to be his vehicle for property development, became a publicly-listed company without having to comply with stock exchange requirements for companies planning to go public.

The PSE’s listing guidelines state that firms seeking to stage an initial public offering should have a track record of profitable operations for three years, a market capitalization of P500 million, and a five-year operating history.

Other requirements include a cumulative consolidated pre-tax profit of at least P50 million, and a minimum pre-tax profit of P10 million for each of the three years immediately preceding the application for listing.

Asked if the move was indeed a backdoor listing, an Eton official told BusinessWorld, "That’s the beauty of it. Eton does not have to wait five years [to be listed]."

Eton, in a statement issued following the special stockholders’ meeting, said the move was "part of the company’s overall resutructuring to establish itself as one of the leading property developers in the country."

The company also said its first project will be to develop the building owned by Philippine Airlines Inc. - also a Lucio Tan firm - in Legaspi Village, Makati into a residential condominium project.

"We are already talking with PAL. The condominium project will be called Eton Greenbelt Residences," Eton Properties President Danilo Ignacio said.

Danilo A. Antonio, Asian Institute of Management property expert, said Mr. Tan was in a hurry to list at the bourse to give Eton Philippines legitimacy.

"Being listed assumes that a firm has financial discipline. This legitimizes Mr. Tan’s real estate presence, and shows that he is now serious in real estate," he said.

Being listed also provides the property firm easier access to funds and an exit mechanism, making the firm attractive to investors, he said.

Mr. Antonio also said a listed property developer is believed to have strong credibility, allowing it to sell projects easily.

"By having a listed presence for real estate, Mr. Tan is now a complete taipan, as he was for the longest time the only taipan without a presence in real estate," Mr. Antonio added.

Analysts, however, noted that volatility in Balabac’s share prices.

"The share price is quite volatile. Investors don’t really want to move in too much yet, the recent move from P3 to P2 is just too much," Jasper Jimenez, a broker from BDO Securities Corp., said.

Shares in Balabac reached as high as P3 on Tuesday before closing at P2.48. The shares closed yesterday at P2.20, down 11.29% or 28 centavos. The PSE had not indicated as of press time whether there was a need to suspend the trading of the new company’s shares.

"We have yet to find out the strategy of its management, but it’s a stock to watch out for. However, if you look at the track record of most of Lucio Tan’s companies, they’re usually not that liquid," said Astro del Castillo, managing director of First Grade Holdings, Inc.

Ron Rodrigo, head of research for Unicapital Securities, Inc., said Balabac’s shift in focus would help the company in the long term.

"It’s a good move, the property uptrend is not here for the short term. Property companies are earning well in both the business process outsourcing and residential segments, and this phenomenon might be here for quite some time."

Ed Bancod, head of research for brokerage ATR-Kim Eng Securities, Inc., said the entry of a new and active company could be a boon for the local bourse.

"From the investors’ standpoint, as long as you’re increasing the depth and breadth of the market, it’s good for the market. For the longest time, the dilemma of the stock exchange was that there weren’t enough companies listed. Now there are a lot of follow-on offerings, while small companies are turning into real investment possibilities."

He added that the company’s shift to a high-growth sector was likely a good move.

"We’re at the early stages of the upswing in the property sector, property is expected to grow at a rapid pace in the next five years."

He noted that listed companies could also benefit from tax incentives, as well as raise additional capital in the future.

The Securities and Exchange Commission (SEC) said Mr. Tan did not violate any rules in renaming Balabac and changing its purpose. Commission Secretary Gerard M. Lukban said changing the name of a listed company and its line of business is permitted as long as the company’s owners remain the same.

"If he (Mr. Tan) owns Balabac and he decides to change its name and purpose, it’s still the same company," he said.

But he added that the firm would have to apply for an amendment of its articles of incorporation at the SEC, unless its new purpose was listed as the original firm’s secondary purpose.

While Balabac’s primary purpose is as a holding firm, it lists real estate development as among its secondary purposes.

Claire Quiray, an analyst from Accord Capital Equities Corp., said the PSE was unlikely to significantly penalize the company.

"The PSE has always monitored companies that don’t disclose enough information. They can put brokers and listed companies under increased surveillance, but aside from that, it won’t be able to do much. The rules on backdoor listing are rather vague."

Eton Properties Philippines carries the name of Mr. Tan’s property firm in China, Eton Properties, but Mr. Ignacio said it is completely Filipino-owned. The firm is a start-up company, but will have access to the properties held by other companies owned by the taipan, including non-performing assets of Allied Banking Corp. and Philippine National Bank.

Allied Bank’s statements of condition show that the bank owned or acquired properties amounting to P5.6 billion as of December 2006, from P4.13 billion as of December 2006. PNB, for its part, owned or acquired P19.3 billion worth of properties as of December 2006, from P25.7 billion in December 2005.

The firm is not the first property company of Mr. Tan. The group has an existing real estate firm, Landcom Realty Corp., which acquires and manages property for Mr. Tan and his companies. Mr. Tan also owns Century Park Hotel in Pasay City and The Charter House in Makati. — with reports from Allan E. Lalisan and Bernardette S. Sto. Domingo

Charter house? or Chatam house? :) medyo guess lang.
so official na. there is 100% chance of this residential project to push thru. and Lolo Lucio is serious about it. and if it would look like Enterprise and Shang, it's indeed a good news. BSA used to be the tallest on that area. soon, only its spire will be visible. hehe...salamat po sa pagpopost sir bustero.

^^ upscale maybe but i seriously doubt Eton be in the league of Shang Grand or TRAG

I can't remember the name of their Hong Kong Developments but it's one of the best addresses on the Island. Perhaps they will make an effort to try compete. The location is extremely good, much better than shang grand, hopefully they put a fitting project landmark project there.

Yup Charterhouse is actually his. They have here and and HK.

What is interesting to me is the signal that perhaps Mr. Tan is ready to go legit. You can't be successfull in public markets if there is reputational risk which he carries. It would be very interesting for a group as big as his to be much more transparent and fair. It would be good for the country.

Exchange Regency is a project of Nobleland Ventures and is located in Ortigas Business District in Exchange Road opposite Benpres Bldg and this is just one of several lots they own in the area. This is their first project as Nobleland but according to their sales manager they were venture partner in Salcedo Park Condominium in Makati. Nobleland is owned by Linton Steels and I believe that they are well-known in the construction business. Exchange Regency will be 42 storeys tall and will have studio up to 3-Brs and also loft units. Their price range is from 1M to 4M. Do you guys think its a good project to invest in? Will there be many takers from this forum?

Exchange Regency design is by Architect Albert S. Yu of ASYA Design.

Exchange Regency is a project of Nobleland Ventures and is located in Ortigas Business District in Exchange Road opposite Benpres Bldg and this is just one of several lots they own in the area. This is their first project as Nobleland but according to their sales manager they were venture partner in Salcedo Park Condominium in Makati. Nobleland is owned by Linton Steels and I believe that they are well-known in the construction business. Exchange Regency will be 42 storeys tall and will have studio up to 3-Brs and also loft units. Their price range is from 1M to 4M. Do you guys think its a good project to invest in? Will there be many takers from this forum?

Wait wait wait....you mean to tell me the site of Exchange Regency not at the Ericsson Building vicinity? Did they move the location? And its not a condotel? And where exactly is this site? On the parking lot beside One Corporate?

looks like. has OCC developer foreseen this?

Exchange Regency is a project of Nobleland Ventures and is located in Ortigas Business District in Exchange Road opposite Benpres Bldg and this is just one of several lots they own in the area. This is their first project as Nobleland but according to their sales manager they were venture partner in Salcedo Park Condominium in Makati. Nobleland is owned by Linton Steels and I believe that they are well-known in the construction business. Exchange Regency will be 42 storeys tall and will have studio up to 3-Brs and also loft units. Their price range is from 1M to 4M. Do you guys think its a good project to invest in? Will there be many takers from this forum?

Exchange Regency design is by Architect Albert S. Yu of ASYA Design.


why not start a thread for this project and post layouts, floor plans, project description, price, units sizes etc... that way we can have a better picture of it :)

looks like. has OCC developer foreseen this?

Yeah, I think they have (judging by the way they designed the windows of the offices facing that lot) and it is pretty obvious given the size of the lot(s) beside OCC. But I think as long as Exchange Regency does not have any bare walls (unlike that dreaded Anson) and is a little bit farther away instead of it sticking, it should be fine. My question really is will there be a building site between OCC and Exchange Regency? Ah yes, we definitely need a thread for that.... :yes:

can anyone tell me about (shalom hotel)? is it a nice hotel to stay? the location is near roxas boulevard, close to robinsons mall.

Eton Properties is indeed big in the HK/China market and their projects are comparable if not better than Ayala Land. Eton Properties will surely be a threat to local developers.

Check out their projects.
http://www.theetonhotel.com
http:///www.etonsh.com.cn
http://www.etonhk.com

Eton Properties is indeed big in the HK/China market and their projects are comparable if not better than Ayala Land. Eton Properties will surely be a threat to local developers.


speaking of which, is there any truth to the rumors about the kapiTAN's health issues?

Exchange Regency design is by Architect Albert S. Yu of ASYA Design.

Is this the same ASYA of Seibu Tower??

Maybe they plan to do another Seibu type of marketing? :nuts:

^^ It's also ASYA who did Mayfair Tower and Mandarin Square of Anchor Land Holdings Inc.

I think 19 floors lang toh...

http://img152.imageshack.us/img152/7580/dsc02101kv2.jpg

http://img183.imageshack.us/img183/286/dsc02103tv5.jpg

http://img183.imageshack.us/img183/4761/dsc02105di1.jpg

http://img183.imageshack.us/img183/6678/dsc02107pz1.jpg

http://img340.imageshack.us/img340/3070/dsc02108st8.jpg

http://www.newsanjosebuilders.com/ > U/C palang yung website ng Victoria Station

Is this the same ASYA of Seibu Tower??

Maybe they plan to do another Seibu type of marketing? :nuts:

I believe so. But they have different developers/owners.

i have read in the news that Ayala is going to launch 27 residential projects this year! sana maraming high-rises!

^^ Use your charm and your "skills" :naughty: to dig deeper into Ayala for news and infos. :D

Ayala Land Premier will be launching several residential communities in the northern part of MM. and in Bulacan but everything is still hush-hush.

^^ Use your charm and your "skills" :naughty: to dig deeper into Ayala for news and infos. :D

hmmm, di ko masyadong close mga ayalas :D have to rub them other than my elbows :lol: :jk:

i'm really hoping that among the 27 will be The Columns III and Serendra 3.

I wish that they'd build new office towers. it's about time.

i think phase 3 of Serendra will be the high rise component of the Serendra complex in FBGC... only 2 buildings for One Serendra but they're not gonna be really tall... and they will be launched towards the end of this year... i've no info re Two Serendra but for sure there will be a high rise component as well if i'm not mistaken on the lot where the sales pavilion is right now, beside SoMa

Atienza: City should retake strategic areas

By Estrella Torres
Reporter
http://www.businessmirror.com.ph/02262007/economy06.html
A LOGICAL next step in Manila’s acclaimed urban redevelopment program is the city government’s takeover of several strategic properties originally titled to the city so it can manage them as part of a comprehensive blueprint and use the proceeds from their development for pursuing other initiatives.

Alternatively or complementarily, the city government should get at least a 20-percent income share of the multibillion-peso operations of the Philippine Ports Authority (PPA) to generate funds for the city as well as address the lingering problems in peace and order and housing in the area.

These are among the suggestions for the next city leaders laid down by Manila Mayor Lito Atienza, who has made the “Buhayin ang Maynila” program the centerpiece of his administration for three terms.

Atienza, who is ending this year the last of his three terms but is endorsing son Arnold or “Ali” to run for mayor, was the guest lecturer at the launching of the Quijano de Manila Symposium last Friday at Señor Alba restaurant in Cherry Blossoms Hotel in Manila.

Atienza said the redevelopment of major tourist areas like the Baywalk area had been continued the past few years through the Inner City Redevelopment program chaired by his son Ali.

“The sharing of income (from the port operations) would be a correction of the continuing injustice to the city of Manila,” said Atienza.

Besides the port area, Atienza also cited the need for the city government to take over again the administration of famous landmarks in Manila—Intramuros, Port of Manila and Luneta (or Rizal Park), which are known as Manila’s jewels.

He said operations of major ports in the world like in the US and the United Kingdom, are handled by local government authorities, which have been proven effective in implementing projects like infrastructure, improvements, peace and order, and health and education for the city constituents.

He noted that many of the city’s problems on peace and order and urban blight are seen in the communities in the port area.

“It’s about time the City of Manila gets to operate or gets its share from the income of the operations of the Port Area,” said Atienza.

He said the move, however, needs an act of legislation because under the law, the Port Area is under the supervision of the Philippine Ports Authority.

Atienza also encouraged the youth to be more actively engaged in politics, as martial law had stunted the development of good leaders. He has endorsed a predominantly young slate under the Liberal Party.

The symposium is a monthly “brunch” affair of the Quijano De Manila Foundation. The news forum seeks to gather select journalists, academics, public intellectuals, politicians, business leaders and government officials who are known as movers and shakers of a nation.

Quijano de Manila is the pen name of National Artist for Literature Nick Joaquin. The setting up of the foundation was envisioned by Ambassador Antonio Cabangon Chua, a long-time friend of Nick Joaquin.

May bagong call center building na itatayo at the back of Standard Chartered Building in Makati, yung dating parking lot. E-Services BUilding. Nadaan ko yesterday. Based on the rendering, the building might have 10-15 floors. Maganda itsura. Was not able to take pictures kasi di ko dala camera, malabo naman sa phone cam. Nakalagay na mga takip sa site. Baka nagstart na ang construction.

That's the new Ayala building, we have a thread on it. De la Rosa BPO building.

^^^ kala ko 24 -30 storeys to? Na downgrade ba?

No it's 24 stories (or at least over 20 from what i remember it's in the thread) but perhaps some of it is basement, they still count it as a storey/floor kasi

^^ THat must be one deep basement then.... :rant:

i have read in the news that Ayala is going to launch 27 residential projects this year! sana maraming high-rises!

i think yung ginagawa ng Ayala sa Pampanga sabi gagawin daw na mixed use development na!! then meron rin silang mga residential subdivisions na ginagawa rin sa pampanga...

Well theres chismis that ALI is also putting up an office building in Ayala

Center,at the back of rustans.

Quad is also being torn down and redeveloped there's supposed to be towers on the new Glorietta 4

10-15 yung tantya ko dun sa E-services Building. Di ko na mabilang kasi nagmamadali ako nun :)

Wala nang space sa back ng rustans kasi glorietta mall proper na yun, yung nasa side niya inayos na temporary parking.

Meron na towers sa bagong G4, Oakwood.

^:? yeah...Oakwood is on G4. Maybe he means on top of the redeveloped quad? This sounds like a major ALI project.

Lucio Tan firm bares 7 projects
By Zinnia B. Dela Peña
The Philippine Star 02/28/2007
http://philstar.com/philstar/news200702280701.htm

Balabac Resources & Holdings Co. Inc. — soon to become the Lucio Tan Group of Companies’ real estate development unit — has lined up seven projects this year, mostly in high-rise residential buildings and office space catering to the needs of business process outsourcing (BPO) firms.

Balabac, to be renamed Eton Properties Philippines Inc., unveiled yesterday its planned projects for the year as it seeks to take advantage of a resurgent property market, fueled by robust remittances from overseas Filipino workers and the low interest rate environment.

In a press briefing yesterday, Balabac president Danilo Ignacio said the company’s initial project would be a 39-story high-end residential condominium at the current site of the Philippine Airlines head office in Legaspi Village, Makati City. The PAL office will relocate to Nichols in Pasay City.

The proposed project, sitting on a 1,732 square-meter property across Greenbelt mall, will feature one-bedroom, two-bedroom and three-bedroom units, with prices starting at about P4 million. The entire project is estimated to cost over P1 billion.

Ignacio said Balabac will also develop other properties owned by the Tan Group of Companies which include four lots with an area of about 7,000 square meters located at the Ortigas central business district for middle-income high-rise residential condominium and BPO office building development, and approximately 36 hectares at Mactan Cebu (formerly Coral Reef Resort) for a hotel, residential, leisure and retirement development. All these properties are owned by the Tan-owned Philippine National Bank.

Other projects include a middle-income high-rise residential condominium in a choice lot at the corner of Roxas Boulevard and T.M. Kalaw in Manila, a mixed-use middle-income high-rise residential condominium, hotel, retail and/or BPO office building in a one hectare property located at Pasong Tamo corner Malugay, Makati; a township in a 1,000-hectare property in Sta. Rosa and Cabuyao, Laguna; and another mixed-use building in a 10-hectare property located at EDSA corner Quezon Avenue.

Ignacio said the company is conducting studies on the other properties owned by the group for possible development. The review, he said, could take six months to complete given the vast landbank of the group in the Makati and Ortigas central business districts, Manila/Pasay/Parañaque Bay Area, Mactan Beach, Cabuyao, Calatagan and other strategic locations in the Philippines.

He said the company could not divulge yet how much it is planning to invest in its planned projects pending completion of the review.

Balabac is a listed investment holding company owned by tobacco and liquor taipan Lucio Tan. Its goal is to become one of the leading property developers in the country.

Tan also has extensive property holdings in Hong Kong, China and other parts of Asia. Through Eton Properties (HK), Tan has developed a commercial building in Xiamen, China. Tan also owns Fortune Tobacco Corp., MacroAsia Corp., Asia Brewery Inc., Tanduay Holdings, Philippine National Bank and Allied Banking Corp.

I was at Makati Medical Center yesterday and saw that they have dug up their old parking area in front.... is MMC going to build a building annex there?

^^ yup! i think i've read that somewhere...


MPIC considers P500-M investment in Makati Medical Center
By Elizabeth L. Sanchez
Inquirer

Posted date: December 17, 2006

METRO PACIFIC INVESTMENTS Corp., a unit of the First Pacific Group of Hong Kong, is looking at investing P500 million in the Makati Medical Center by the first quarter of next year to spur much-needed facility improvements, MPIC officials said over the weekend.

"Part of the problem (before) was that there were no significant capex (capital expenditure) for the facilities, so that's a significant budget (item)," Makati Medical Center chairman Manuel Pangilinan said.

Pangilinan said Makati Med was likely to post a sharp growth in net income this year to P160 million, from P26 million in 2005 after the hospital successfully reined in costs.

Industry sources also said hospital room occupancy has risen to 75 percent from 60 percent last year.

To further boost revenues, MMC plans to expand its facilities and put up a building adjacent to the main building in Makati.

MMC expects to spend about P1 billion to put up the new building and refurbish the existing hospital.

To partly fund this expansion, MMC plans to raise fresh capital by issuing P500 million in convertible notes to shareholders and interested investors.


complete article at http://business.inquirer.net/money/topstories/view_article.php?article_id=38828

You're right it's the temporary parking between Rustans and 6750. Actually diff sources diff news. Can also be parking lot between Shangrila and Landmark.

Yes its G1 not G4 , sorry mistype. the old quad. They'll tear it down and build something similar to G4 with a high rise on top to use the air rights. Another hospitality project I understand.

So the PR building will be 39 stories , too bad I thought it would be like 60 stories since it's supposed to be landmark project.

Anyway they look like they're studying Ortigas as well, it must be the old AIC lots as it's four lots of 1500 sq.m. They have some nice properties too Roxas Corner Kalaw is a fantastic lot.

All such exciting news! I just hope that all these developments consider their design and impact on human and vehicular traffic since the roads of these said proposed projects are quite narrow and are already congested.

Actually all projects by law must conduct traffic studies as part of their development permit. MetroManilans have to rethink their paradigm of moving about in a car, we're really getting and will most probably head for a city that looks more like HK where people will need and use more Mass transit than the typical American city model with a core and automobile dependent suburb. That's why I'm an advocate of rezoning all villages around the CBD's, to give people easier access to City cores without need of an automobile.

Actually all projects by law must conduct traffic studies as part of their development permit.

In that case, why do they keep approving mall development in already congested areas such as the EDSA Ortigas Ave-Shaw-Guadalupe corridor? Traffic in that stretch is mainly caused by retail (made even worse by buses waiting for commuters and shoppers).

Otherwise, i agree with you that they really need to develop more infrastructure to make Metro Manilans less dependent on the car. however, more housing development is being built in periphery areas such as along SLEX and NLEX with almost no commuter transit to support them, therefore people have no choice but to depend on the car. The MRT 3 is not enough to support both our business districts (Makati and Ortigas) so we need more commuter rail to connect the suburbs to these areas.

^^ Actually, mall developments, as well as employment centres (offices, BPOs) and high density residential along EDSA Ortigas Ave-Shaw-Guadalupe corridor is a good thing because they are indeed accessible by public transit, which is the MRT3 and buses. MRT3 can support it in theory but its the management of the company and that stupid DOTC that made it sucky. If the government somehow buys it and turns it over to a better manager, say the LRTA, rehabilitate and increase its rolling stock and most importantly, physically connect it with LRT1, MRT3 will do so much wonders for the commuters and the economy. As far as those buses are concerned, all it takes is political will to enforce strict discipline rules so they will be more efficient. Its difficult but not impossible.

Mall developments such as the Mall of Asia is a joke! As mentioned in another thread, the whole development in and around Mall of Asia is so autocentric its not even funny! Its like being in a typical California auto-oriented hell hole of a strip mall. It must have taken a lot of money to reclaim all that land from Manila Bay just to waste on such inefficient land use. Makes you wonder why they bother reclaiming at the first place.

And don't get me started on Fort Boni. Now that IT Park is so autocentric by the time those little Net buildings and additional pricey condos are complete, its gonna be a traffic hell hole.

^^ Actually, mall developments, as well as employment centres (offices, BPOs) and high density residential along EDSA Ortigas Ave-Shaw-Guadalupe corridor is a good thing because they are indeed accessible by public transit, which is the MRT3 and buses.

True...but isnt about 8 commercial centers (including one of the biggest malls in the country, Mega Mall) [more than] enough for a 3km stretch of road? Furthermore, the MRT 3 can only take so much, not only does it have to support commuters during rush hour it also has to support this retail area. It is already congested as it is now. A management change for MRT will improve its efficiency, especially if they acquire more rolling stock but doing this will only be a temporary fix. Its either they develop more lines as I mentioned earlier or they stop building retail along this corridor of EDSA. I think they should do both.

Indeed, BGC needs transit connection. I'm hoping they consider building the underground line 5 (with connection to Northrail) ASAP.

^^ Well, you can make the MRT3 trainset longer to its maximum. That alone increases capacity by 25%. And with more rolling stock and a more efficient line (hence why physically connecting it with LRT1 is important), it can easily increase frequency which helps improve its already HUGE capacity (that MRT3 line alone carries more people than Vancouver's Skytrain, RAV and Evergreen Lines combined....and that is if Evergreen ever gets built). Plus don't they have MRT8 planned for the Shaw Boulevard corridor?

If there is any commercial development that should be stopped, it is on the Mall of Asia area. I am still traumatized by the ridiculous heavy traffic that one single Mall did for the ENTIRE metropolis just because of some fireworks event. :rant:

^^ Well, you can make the MRT3 trainset longer to its maximum. That alone increases capacity by 25%. And with more rolling stock and a more efficient line (hence why physically connecting it with LRT1 is important), it can easily increase frequency which helps improve its already HUGE capacity (that MRT3 line alone carries more people than Vancouver's Skytrain, RAV and Evergreen Lines combined....and that is if Evergreen ever gets built). Plus don't they have MRT8 planned for the Shaw Boulevard corridor?

If there is any commercial development that should be stopped, it is on the Mall of Asia area. I am still traumatized by the ridiculous heavy traffic that one single Mall did for the ENTIRE metropolis just because of some fireworks event. :rant:

The fireworks event is a once a year event, so i dont mind it. Traffic is expected for any event in that scale, whether its in Manila, New York or London. I also do not entirely blame Mall of Asia for all that traffic caused by the fireworks. Metro Manila relies on only several major arterial roads while the rest are narrow sidestreets, traffic congestion is inevitable. All i'm saying is there are too many malls and other commercial centers along EDSA, period. Actually, there too many malls in Metro Manila, period. And most of this mall development lack traffic feasibility studies (or if there is one, it is not followed accordingly)

Yes, they have MRT 8 planned and other lines that are planned too. But thats how far it goes, as of now. Just planning. Why not actually build it now? I think the govt. has the budget to do so. They had the budget to build both MRT 3 and MRT 2 during the crisis so how about some more transit lines now? I join the international economists in their position that the Philippine government is not spending enough on vital infrastructure esp. transport projects.

^^ Oh you would mind it if you were actually here. I could understand if it just affects routes going towards the MOA but the traffic was so ridiculous it clogged up routes going all over the metropolis since people are trying to find other routes but all leading to the MOA (and given the usual undisciplined, inconsiderate, "singitan" style of Philippine driving, it lead to a domino effect).

And as far as the malls, if the population can sustain it and demands it, why stop it? As long as they are built along transit lines, they should be fine.

Besides, building these lines don't take overnight but at least we don't have auto-centric transport ministers who purposely waste funds to build subways underneath wealthy sparsely populated areas while other areas of the region desperately needs rail transit too but have no funds left to build them. ;)

Thats the thing...the population can't sustain more malls. Sure, there are lots of people in the malls but the percentage that actually goes there to spend is small (compared to malls in let say, Vancouver). My family learned a lot about SM's operations when we put up our store in their mall. Apparently, lots of shops are subject to a lot of fees and costs; and with the number of malls in the metro, you dont get a concentration of customers into the malls. Customers are more spread out to the different malls so many shops are forced to pull out of the SM stores. You cannot expect small business to have a branch in all SM malls, unlike McDonalds which has the capital to do so. SM is a big winner because of the turn-over of the retail slots & the inflated fees they get. Shop owners are losers unless its a big retail chain like Bench or Jollibee.

Oh. I've been there. I still go to Manila every year, including Christmas three years ago...traffic sucks, but hey, its the christmas season. Manila isnt like Vancouver where you have a lot of arterial roads that you could use as an alternative. Here you have Granville, Oak, Cambie (not right now because of the RAV), Main, Fraser, Kingsway, etc...all leading to downtown & the broadway corridor. Manila only has EDSA, C-5, SLEX and some other minor roads to access the Makati CBD.

Metro Manila's Retail Area is 98% Saturated :eek2:

Thats the thing...the population can't sustain more malls. Sure, there are lots of people in the malls but the percentage that actually goes there to spend is small (compared to malls in let say, Vancouver). My family learned a lot about SM's operations when we put up our store in their mall. Apparently, lots of shops are subject to a lot of fees and costs; and with the number of malls in the metro, you dont get a concentration of customers into the malls. Customers are more spread out to the different malls so many shops are forced to pull out of the SM stores. You cannot expect small business to have a branch in all SM malls, unlike McDonalds which has the capital to do so. SM is a big winner because of the turn-over of the retail slots & the inflated fees they get. Shop owners are losers unless its a big retail chain like Bench or Jollibee.

Oh. I've been there. I still go to Manila every year, including Christmas three years ago...traffic sucks, but hey, its the christmas season. Manila isnt like Vancouver where you have a lot of arterial roads that you could use as an alternative. Here you have Granville, Oak, Cambie (not right now because of the RAV), Main, Fraser, Kingsway, etc...all leading to downtown & the broadway corridor. Manila only has EDSA, C-5, SLEX and some other minor roads to access the Makati CBD.

Actually, it has quite a few alterial roads but even I dunno what they are called. The drivers just somehow know about them and its a bit of a zig zag ride. The thing that happened during the fireworks were ALL routes, including alterial roads, were clogged up. It made the usual Christmas season traffic seem so heavenly (and trust me, living near SM Megamall, I know how bad it can be). Imagine taking an hour just to cross EDSA from Ayala Centre to the Forbes Park area when you are ALREADY about to enter the intersection! C-5 clogged up both ways! South Super Highway barely moving for three hours! I have never seen so much traffic like this since before EDSA MRT was built and its all because of Mall of Asia fireworks!

As far as malls are concerned, Filipinos love to shop with what little they earn (and if not shop, then eat) and the mall developers and tenants are aware of that. In the Philippines, one has to have a business to survive so as long as people keep venturing, there is always a demand for retail space. I have yet to see any of the major malls have empty stalls the same way the Henderson Mall is in Coquitlam. So obviously the demand is there.

^ Check out SM Southmall's food court. Lots of stalls are closed because of new SM malls the south catchment area (Bicutan, a couple in Cavite, etc). I'm not saying there is no demand, yes there is a lot of demand. All i'm saying is there are too many malls that are either existing, planned and underconstruction. And how do people get to these malls? cars, jeepneys, taxis that pollute and congest the city. You only get a handful of malls that are accessible via MRT or LRT

Wait for the LRT1 to get extended there. That place will develop and fill up like crazy so one can say SM Group has a bit of foresight in the area. Anyway, this thread is over 500 posts so....

:lock: :lock: :lock:

^Just in time too...since we were off topic. Good debate, though:)

Metro Manila Proposals and U/Cs I (http://www.skyscrapercity.com/showthread.php?t=214800)
Metro Manila Proposals and U/Cs II (http://www.skyscrapercity.com/showthread.php?t=214804)
Metro Manila Proposals and U/Cs III (http://www.skyscrapercity.com/showthread.php?t=275552)
Metro Manila Proposals and U/Cs IV (http://www.skyscrapercity.com/showthread.php?t=275550)
Metro Manila Proposals and U/Cs V (http://www.skyscrapercity.com/showthread.php?t=373862)
Metro Manila Proposals and U/Cs VI (http://www.skyscrapercity.com/showthread.php?t=373863)

----------------

could this be a part of this new project ?

http://i29.photobucket.com/albums/c277/patok/Lm2.jpg

http://i29.photobucket.com/albums/c277/patok/Lm1.jpg

You're right it's the temporary parking between Rustans and 6750. Actually diff sources diff news. Can also be parking lot between Shangrila and Landmark.

Yes its G1 not G4 , sorry mistype. the old quad. They'll tear it down and build something similar to G4 with a high rise on top to use the air rights. Another hospitality project I understand.

So the PR building will be 39 stories , too bad I thought it would be like 60 stories since it's supposed to be landmark project.

Anyway they look like they're studying Ortigas as well, it must be the old AIC lots as it's four lots of 1500 sq.m. They have some nice properties too Roxas Corner Kalaw is a fantastic lot.

Yes its G1 not G4 , sorry mistype. the old quad. They'll tear it down and build something similar to G4 with a high rise on top to use the air rights. Another hospitality project I understand.

The G1 redevelopment had been in the news last year as the first phase of the Ayala Center Redevelopment Project.

It was mentioned that it will also be connected to Dusit, but how could that happen when they don't have access to it because the Park Square is blocking their access to Dusit? Maybe PS will be also be demolished?

Lucio Tan property company readies initial Makati project

Eton Properties Philippines Inc., the newly formed property firm of airline and tobacco tycoon Lucio Tan, has lined up seven real estate projects as its initial salvo in the real estate industry.

Eton Properties president Danilo Ignacio told reporters that the company was preparing the blueprint of its first high-rise residential condominium project in the country, the Eton Greenbelt Residences.

The company, which will assume the assets of Balabac Resources and Holdings, declined to give the total cost of the Eton Greenbelt project but sources said it could cost over P1 billion.

The project will rise on a 1,700-square meter property of flag-carrier Philippine Airlines Inc., another Lucio Tan-owned company.

Eton Properties is in talks with PAL for the development of the property, where PAL head office is located, into a 39-story high-end residential condominium. The project will feature one-bedroom, two-bedroom, and tree-bedroom units. A one-bedroom unit will cost about P4 million.

Ignacio said the company would launch the project in the next one or two months.

Ignacio plans to prepare a master plan and feasibility studies for the Eton Greenbelt and initiate negotiations with six other properties, which are owned by the members of Lucio Tan group of companies.

The six other properties include the four lots within an area of about 7,000 sq. m. on Ortigas central business district for middle-income high-rise residential condominium and office building development; a choice lot at corner of Roxas Boulevard and T.M Kalaw for middle-income high-rise residential condominium; and a 1-ha project located along Pasong Tamo for possible residential condominium as well as hotel, retail and office building project.

Eton Properties also plans to develop a 10-ha property located along Edsa corner Quezon Avenue for a mixed use development consisting of mall, high-end residential condominium and BPO office buildings; a 10,000-ha property at Sta. Rosa and Cabuyao, Laguna for possible township projects, consisting of commercial, residential, institutional, leisure/retirement and hotel project, and a 36-hectare property at Mactan, Cebu for possible hotel, residential, leisure and retirement development.

^^ nice, malapit sa office, pero san side ng quezon ave? sa may golf course or sa may seedling?

Kaso ang dami na atang mall, sana condo na lang ilagay and parking lot na malaki sa tabi ng q. ave station para dun nalang ako magpapark pag pupuntang school/work (yun ay kung makagrad ako afer 4 yrs, haha:lol: )

sa driving range. lot ni lucio tan yun

It will be on the same triangle where the (mini) mall of SSS Corporate HQ will be built.

The G1 redevelopment had been in the news last year as the first phase of the Ayala Center Redevelopment Project.

It was mentioned that it will also be connected to Dusit, but how could that happen when they don't have access to it because the Park Square is blocking their access to Dusit? Maybe PS will be also be demolished?

Can they demolish one PS without disrupting parking availability? PS is prime lot so maybe they are considering making better use of the site, possibly a PS w/ hi rise?

is there a plan for updating landmark? it's really looking old.

Can they demolish one PS without disrupting parking availability? PS is prime lot so maybe they are considering making better use of the site, possibly a PS w/ hi rise?

They can start by letting people know about the availability of parking spaces underground of Glorietta, and the other alternative parking spaces (which they have a lot of, within the Ayala Center complex and adjacent areas). IMO, they're not that good in pointing people to their underground parking entrances.

BTW, there had been news of ALI selling Oakwood, right? I guess it could be because they're planning a new hospitality of their own, which is the G1 project.

BTW, there had been news of ALI selling Oakwood, right? I guess it could be because they're planning a new hospitality of their own, which is the G1 project.

I believe it was already sold. I read it somewhere before.

Yup Correct kayo. Oakwood has been sold to A singapore serviced apartment group Ascot (their mid level brand Sommerset is already here). And yes basically the new trend for Ayala Center is UP^^^ to take advantage of the existing infrastructure in place (mall, services, mrt) do not be surprised if after residences at GB another Residential property is developed in Ayala Center area. Even if they get rid of Park square, temporary lang naman iyon they'll probably make up for it elsewhere. I'm not sure when the Landmark lease is up as well, ALI does not own it you know, it's owned by the Chengs and Sy's.

Dvorak that parking lot could be right, it's one of the lots mentioned.

Sayang iyung kay kapitan na project 39 stories lang, akala ko pa naman really tall. Anyway I hope at least it will look really nice. And yes he own the driving range on the corner of EDSA/Quezon Ave (opposite mcdo) all the way to the next street along EDSA , it's a huge lot.

^^ Of all the giant Dept. Stores leasing in Ayala Center, Landmark is so left-out when it comes to renovating their place because Rustan's and SM Makati already had facelifts and expansions.

Maybe it will really be the Landmark parking lot and not the steel-parking lot between 6750 and Rustan's.

I have a feeling that they're saving that lot just in case Glorietta-3 gets redeveloped.
They can do a "Rustan's-Glorietta-4" type of development there, an anchor establishment on the steel-parking lot, with the redeveloped G3 (which could have hi-rises) seamlessly connected to it, just like the setup of Rustan's and Glorietta-4.

Can anyone list the rumored projects in MM? I believe bustero suggested there was a high rise condominium project in Makati in the last UC thread.

What happened to Raya Suites (or was it Raja?) that was meant to replace Gillarmo (sp?) next to Manila Peninsula? It was supposed to be the tallest residential tower in the country.

What happened to Raya Suites (or was it Raja?) that was meant to replace Gillarmo (sp?) next to Manila Peninsula? It was supposed to be the tallest residential tower in the country.


the Gilarmi?

Oh yes...Gilarmi pala.:D

I think Raya Suites exactly is pretty dead, but the redevelopment of the Gilarmi is very much alive. The Tiu's of Discovery are very interested to move this forward since the timing is quite right for a project like this. I don't know if it's as nice or supertall but definitely they are studying it. Hopefully they come to a decision soon (if they have not already come to one :grin:) and not only announce but build it.

Actually gentlemen we are in a phase where MM, Cebu and probably even Davao will have a big change in it's skyline.The market is still early in it's cycle (though already late for some types, like hi end condo's) and I think we shall see a lot more high rises in the traditional areas , which means very tall, as no one will build a condo that's less than 40 stories in these areas. The most dramatic skyline change will be in QC as the whole triangle area is now ready for development.

Good times for skyscraper watchers.

^^ Wow very exciting news indeed Peter. Will definitely look forward to these tall skyscrapers being built. :)

I think Raya Suites exactly is pretty dead, but the redevelopment of the Gilarmi is very much alive. The Tiu's of Discovery are very interested to move this forward since the timing is quite right for a project like this. I don't know if it's as nice or supertall but definitely they are studying it. Hopefully they come to a decision soon (if they have not already come to one :grin:) and not only announce but build it.

Actually gentlemen we are in a phase where MM, Cebu and probably even Davao will have a big change in it's skyline.The market is still early in it's cycle (though already late for some types, like hi end condo's) and I think we shall see a lot more high rises in the traditional areas , which means very tall, as no one will build a condo that's less than 40 stories in these areas. The most dramatic skyline change will be in QC as the whole triangle area is now ready for development.

Good times for skyscraper watchers.

Thanks for the exciting information:) Looking forward to not only development in MM but more so in other cities like Davao and Cebu to decentralize Metro Manila.

Discovery Center is a quality building...I'm confident they will develop something to look forward to on Gilarmi's site. What happened to Raya? what killed it?

Actually gentlemen we are in a phase where MM, Cebu and probably even Davao will have a big change in it's skyline.The market is still early in it's cycle (though already late for some types, like hi end condo's) and I think we shall see a lot more high rises in the traditional areas , which means very tall, as no one will build a condo that's less than 40 stories in these areas. The most dramatic skyline change will be in QC as the whole triangle area is now ready for development. Good times for skyscraper watchers.

Jobs growth not the only winner from BPO in The Philippines

The property sector in the Philippines is rising from the doldrums thanks to the booming business process outsourcing (BPO) industry. Aside from boosting the country's labor, another clear beneficiary of the boom in the BPO industry is the property sector.

BPO is an emerging industry in the Philippines. The industry itself was regarded as one of the fastest growing industry in the world. The phenomenal BPO boom is led by demand for offshore call centers. It is estimated that over 112,000 people were working in call centers in the Philippines in 2005, bringing in revenues of US$1.12 billion for the year. This is in sharp contrast to 2000 when Filipino call centers employed 2400 people and earned US$24 million.

This emerging industry is fueled by front office customer care and back office processes including finance/accounting, human resources, and information technology services. Though customer care contact centers form the largest part of the BPO boom locally, the Philippines' English language proficiency, information technology, human resources, and available finance/accounting professionals are significant contributing factors as well.

In fact the Philippines has the largest number of accredited accountants in Asia, with the number growing yearly. Filipino accountants are also renowned for their flexibility in working with multiple accounting standards.

The Philippines' Center for International Trade Expositions and Missions (CITEM) report for 2004 cited the Philippines as among the top 10 choices for offshore operations. Major companies that already operate in the Philippines include AIG, AOL, Barnes & Noble, Chevron, Citigroup, Dell, HP, IBM, Intel, JPMorgan Chase, Motorola, Procter & Gamble, and Trend Micro.

Land Values Rocket
While the 1997 Asian financial crisis may have caused the property sector to hit rock bottom, the services industry is breathing new life into once vacant assets. Land values in the major central business districts in Metro Manila have increased because of the demand for more office space. The main underlying demand is coming from BPO growth.

In 2005, research from property group Colliers International estimated that land values in the Manila central business districts should post a 15% year-on-year increase. Prices of prime sites in Makati are expected to hit US$4,192 per square meter, while development plots in Ortigas could reach up to around US$1,893, the consultancy firm said. Anything from warehouses, shopping malls to upscale office spaces are currently up for grabs as the BPO industry has seen demand outstripping supply.

Some of the countries top property developers are earmarking sites to cater to the BPO demand. Recently, Ayala Land, Inc, a large property developer, said it is setting up two BPO campuses in Metro Manila and Luzon. Ms. Victoria Añonuevo, Ayala corporate business group head, said these two projects are the company's answer to the exponential growth of the BPO business in the country. "In the last year, BPO buildings have gone from zero of our total office gross leasable area to about 34 percent of our overall office portfolio, Ms. Añonuevo was quoted as saying.

Ayala Land is offering a unique built-to-suit model targeted mainly to address the demand for office space. Last year, it transferred its first built-to-suit building to a major BPO player. Ayala Land's built-to-suit model involves a prospective tenant who submits its specific requirements to the property firm who in turn will build the property according to the tenant's specifications. This model assures Ayala Land has a guaranteed tenant for the property. Last year, Ayala Land said it had earmarked nearly 36,000 sqm of leasable office space for construction of BPO buildings.

Not to be outdone by realtors, shopping mall developer SM Prime Holdings last February opened its doors to Dell Inc. who established a call center in one of SM's biggest malls to date, the Mall of Asia. The services sector is also coming to the rescue of "traditional" sectors such as manufacturing. While the manufacturing sector is still recovering from weak output last year, the services sector is attempting to fill in the void. "Some firms are buying warehouses because of the lack of office space," Director-General Romulo Neri of the National Economic and Development Authority (NEDA) said.

Even prior to the use of warehouses for BPO, once vacant condominium units have been rented by many companies. One board member of a Makati condominium building said that the number of tenants increased from 60 percent to 90 percent because of BPO companies. The lack of viable supply has resulted in the emergence of alternative sites such as Filinvest Alabang, the Bay Area reclamation, the site of the Mall of Asia, Fort Bonifacio, McKinley Hill and Robinsons Pioneer area.

Incentives Widely Available
One of the major developments in the government's incentive-giving policy is the recognition that commercial spaces, no matter how small or big, can be entitled to incentives. Developers of these real estate properties apply for and get incentives from the Board of Investments and the Philippine Economic Zone Authority (PEZA). Once proclaimed by government that office sites are IT investment sites, the property developers and locators in the sites were entitled to incentives. Incentives range from tax holidays to duty-free importation of equipment. Prior to this recognition, only large industrial tracts of lands were entitled to incentives. These large tracts of lands are those suited for traditional businesses, such as manufacturing sites.

Cities Not The Only Beneficiaries
Metro cities outside the capital of Manila are also cashing in on the BPO boom. Among these metro cities, Metro Cebu in Visayas, is the next preferred site for IT investments, including back office services. In fact, Cebu City is positioning itself as an alternative ICT hub in southern Philippines. Cebu currently hosts 12 call centers.

Not to be outdone, the province of Davao has also opened its doors to BPO investors. Merly Cruz, the trade department's director for Region XI, said two BPO companies engaged in the outsourcing of architecture and graphical services have already set up operations.

Nakayama Technological Corp., one of the biggest BPOs in Mindanao, operates in Digos, Davao del Sur while Menogaya Co. runs it's daily services in Davao city. "The information communications technology has been added to the priority industry in Davao," Cruz said. The incentives offered to investors are a sales tax holiday for four years and free processing of local government taxes and fees such as building and mayor's permits.

To prove that companies in Luzon have taken serious note of the skills of the residents in Mindanao, G-Com Asia Pacific Phil., which is a branch of the Cyber City in Clark, had established call center operations in Davao. "It will also start its legal research outsourcing within the year," Cruz said. Cagayan de Oro, another city in Mindanao is home to Link2Support which recently reported that it would develop an additional 800 square meters. floor area for a total of 500 seats.


---Mio Cusi

Mio Cusi is a senior reporter for the Manila-based BusinessMirror. Currently assigned to cover the macroeconomic beat, he has written numerous articles on the comparative advantage of the Philippines among other Asian countries in relation to BPO services.

I guess for Makati a modern design would be decided for it.

@thomasian, do you or anyone in this forum have any news on the proposed Manila Tower on Ayala Avenue?

@thomasian, do you or anyone in this forum have any news on the proposed Manila Tower on Ayala Avenue?

I don't have any for the moment but bustero could have some as he's one of the SSC forumers who could get closest to the whatabouts of this project.

I don't have any for the moment but bustero could have some as he's one of the SSC forumers who could get closest to the whatabouts of this project.

Ok. Thanks and More Power!

I don't have any for the moment but bustero could have some as he's one of the SSC forumers who could get closest to the whatabouts of this project.

@thomasian, (here i go again), do you have any update on the Paseo de Magallanes redevelopment? Do we have a thread for it? Thanks and More Power!

^^ You mean the conversion of part of their commercial area into a residential one? We don't have a thread for it.

NOthing new on the project on the Sytengco lot (proposed Manila Tower). Seems to have lost it's traction, lets see maybe we'll get surprised.

Right behind it is some new scuttlebutt though, aparently the Dela rosa bpo building is so succesfull that it will have a twin. To be finished 2010. Anyway just some broker tsismis.

^^ On a somewhat related topic, I don't understand why Jaka can never get off the ground. Why can't someone just buy that thing, add a few floors, then cap it. Then we can have the Manila Tower...

^^Jaka is complicated because Enrile owns it, it really should have been foreclosed but since Enrile is a powerful man it did not happen. On the other hand they don't have any money to finish it but they are asking for an astronomical sum to sell the thing. People are also wary of dealing with it as there are a lot of complications. The best bet is for a group to come in and buy the whole thing as the market is heating up anyway.

yup.. people don't wanna mess up with Enrile.. baka hinihintay na lang sya matigok..

hehe natawa ako doon ah

Forgive my poor tagalog skills but what does "matigok" means? And I suppose the news from Emporis (which wasn't written by me) wherein the developers of Jaka was thinking of restarting it again was actually referring to Enrile?

^^ out of context, i believe it means "DEAD"

yup, colloquial term actually.

I thought you were the emporis guy :) nonetheless they may have better sources than we do here.

Anyway from the GA thread seems like someone else is going after tallest in the Philippines soon , if it is to be believed. A condo at that, that would make it among the worlds tallest condos!

yup, colloquial term actually.

I thought you were the emporis guy :) nonetheless they may have better sources than we do here.



Umm...I don't think so.

i dont think continuing Jaka is the best way... hasnt it been sitting like that for years, at least without maintanance of any kind? i dont really live there but it looks like it from the picture... this eyesore should just be demolished in my opinion.

Ipa facelift na lang natin kay Belo ang Jaka, kaya na siguro ng powers nya yun. :D

JAKA is not only an eye sore; it's also becoming dangerously hazardous to pedestrians and passersby. Beware of falling debris . . .

^^ Shocks, pag nalaglagan ka ng debris, magiging chaka din ang face mo. :D

some couintries do have laws on unfinished buildings either finished it or the government will tear it down, i wish we have like that in the philippines

^^ Well, I'm not sure about Metro Manila but I do know they have the exact opposite in Roxas city. Apparently if a building is "unfinished", you get a tax break or something. That is why you see a lot of buildings there, although occupied and in full use, have steel rods and columns sticking out of the roofs....

^^ Well, I'm not sure about Metro Manila but I do know they have the exact opposite in Roxas city. Apparently if a building is "unfinished", you get a tax break or something. That is why you see a lot of buildings there, although occupied and in full use, have steel rods and columns sticking out of the roofs....


ugh! imo that's quite an eyesore :ohno:

is enrile that powerful that jaka is so untouchable

Jaka is just so chaka that no one wants to touch it, eew!!! :D

the problem with our country is that we have rich lawmakers that block legislation that will hurt their interests

BPO boom fuels real estate rebound in the Philippines!
http://www.philippine-real-estate.info/philippine-real-estate-news/bpo-philippines-real-estate.html

Foreign business process outsourcing (BPO) companies have been attracted to set up shop in the Philippines due to the presence of a big pool of workers as well as competitive lease prices, according to the Center for International Trade Expositions and Missions (CITEM), the export promotion arm of the Department of Trade and Industry.

"BPO companies are not only on hiring binges, they are also in need of Grade A office spaces," said Trade assistant secretary Fe Agoncillo-Reyes, executive director of CITEM. "For our commercial real estate developers, this strong demand is welcome."

BPO providers and established names like GenPact, e-Telecare, Teletech, IBM Daksh, Dell, and Ericsson Communication contributed to the real estate boom experienced by the Philippines in 2006.

According to a CB Richard Ellis report, a combined total of 120,200 square meters of office spaces have been allocated to new BPO locators in the first semester of 2006 alone and an estimated 60,000 sqm of office spaces have been addded during the rest of the year.

Examples of the buildings that were leased to BPO firms in 2006 were Net Square and Bonifacio Global City developed by 19-1 Realty; EC IT Center in Mandaluyong by Greenfield ; Plaza A, Northgate Cyberzone developed by Filinvest; and Cybergate 1&2 at Mandaluyong developed by Robinsons Land.

A big part of the real estate demand, added Agoncillo-Reyes, is BPO firms who are expanding in Manila .

For 2007, the need for grade A office spaces is being answered by property developers doing "build-to-suit" deals and cyberzones for companies who came to Manila for BPO work.

The following is a list of developments that real estate firms are undertaking to take advantage of the BPO boom:

Ayala Land - UP Science and Tech Park in Quezon City ;
Robinsons Land - Cybergate Zone in Mandaluyong City and Cyberpark in Libis, Quezon City ;
Federal Land – Developments in Bay Area, Pasay City and in Bonifacio Global City;
Filinvest Land – Northgate Cyberzone in Alabang;
SM Investments Corporation – Call center facilities near SM Mall of Asia;
Megaworld – Projects in McKinley Hill and Newport City

My first time to hear about Federal Land's FBGC project. By the way, their Oriental Place project along Pasong Tamo is now fenced with all those ads around it.

^^ I actually had created a thread for this one, nung Feb 7 pa, pansinin nyo naman, isa pa lang ang reply, parang walang gusto mag-update at mag discuss. Wahhh... Maawa naman kayo. :cry:

North Bonifacio - The Federal Land and BCDA mixed-use township project rising soon...
http://www.skyscrapercity.com/showthread.php?t=439686

oh i see. hush now aaron. since we don't have the masterplan yet, wala nga tayo madidiscuss. :D sige pag me nalaman kami isshare namin. :)

Wala pa kasing good information for Metrobank.

Di bale Aaron, do not cry. Pag nagumpisa iyan I'm sure madaming marereport at mapupuno rin iyang thread mo!:lol:

Actually kulang pa iyang listahan na iyan kung BPO lang, sobrang dami talaga.

With the Supreme Court decision ordering the Manila City Government to enforce a City Ordinance for the closure of the Pandacan Terminals of the Big Three, the Office of the Mayor has requested for a copy of the blueprint of the Rockwell development. Manila is seeking to transform the area into a similar Rockwell area. However, it is easier said than done. The relocation of the Pandacan Terminal will surely encounter a lot of legal obstacles considering its effect on the oil supply of the entire Luzon area.

i think matatagalan pa to.. yung 2nd ordinance nang city of manila gave them 7 years to move..

With the Supreme Court decision ordering the Manila City Government to enforce a City Ordinance for the closure of the Pandacan Terminals of the Big Three, the Office of the Mayor has requested for a copy of the blueprint of the Rockwell development. Manila is seeking to transform the area into a similar Rockwell area. However, it is easier said than done. The relocation of the Pandacan Terminal will surely encounter a lot of legal obstacles considering its effect on the oil supply of the entire Luzon area.

With the Supreme Court decision ordering the Manila City Government to enforce a City Ordinance for the closure of the Pandacan Terminals of the Big Three, the Office of the Mayor has requested for a copy of the blueprint of the Rockwell development. Manila is seeking to transform the area into a similar Rockwell area. However, it is easier said than done. The relocation of the Pandacan Terminal will surely encounter a lot of legal obstacles considering its effect on the oil supply of the entire Luzon area.


are the big three on private or government land? imo, if it's private land, with regards to the re-development of the area, the city government can do nothing more than zoning the area and put FAR restrictions

^^ Yup that's correct. The old Ordinance was merely a SPOT ordinance meaning it was only concentrated in the Pandacan area. The new Ordinance passed last year was a Comprehensive Land Use Plan Zoning (CLUPZ) Ordinance encompassing the whole Manila area. The new ordinance gave them 7 years to relocate but as it is, the period is not yet running as the Big 3 were able to obtain Injuctions from the courts.

From Vic Agustin's Cocktales Column of today comes this interesting article:

Money-go-round

• The strategic Shell Maya station on Buendia is closing down on March 19 to give way to a residential condominium to be built on the property by the Fil-Estate Group.


Maybe our SkyscraperCity Philippine Forum Guru, Thomasian, can check this out, please?

Thank you and More Power!

Is that the Shell station near RCBC Plaza? I remember hearing it will be torn down for a condo several months if not a year ago.

yup.. that's shell maya.. along buendia in front of Zuellig

Is that the Shell station near RCBC Plaza? I remember hearing it will be torn down for a condo several months if not a year ago.

^^ Yeah, I also heard that almost 2-3 years ago that they will remove the Shell Maya station but it's the first time that I hear that Fil-estate is planning a residential condo in the area. Ayala's Columns will just be across the street.

this is also from cocktales..

Goodbye, Anson

The landmark Anson Arcade on Pasay Road is destined for the wrecking ball by yearend.

The appliance emporium will be demolished along with the neighboring Park Square car park to give way to the luxury Fairmont and Raffles hotel complex that Ayala Land is building in partnership with the Dubai emirate.

Friday’s announcement took the Anson’s staff, and apparently the management, by surprise, as the two-story arcade had just finished an extensive renovation.

According to the grapevine, Ayala Land is still trying to find where to temporarily relocate the adjoining bus and jeepney terminal, having run out of suitable open space in Makati’s central business district.

Top on the list is the open but much smaller open car park by the Anson Auto Service Center across the street, but there is resistance within the Ayala ranks since the strip row of restaurants across it had just been built.

Besides, building a bus and jeepney terminal right next to an ultra-luxe hotel chain does not make business or aesthetic sense.

Another option: the corner of Ayala Avenue and EDSA, where the transport terminal could connect with the light rail transit station, the crowd-drawing SM Shoemart, and the open carpark in front of the Intercon.

That option would mean that the carpark building and the boxy, 60s-era Hotel Intercontinental that occupy the busy corner would have to be demolished.

To help underwrite such a major re-development, an office tower block could be built on top of the planned terminal, similar to Hong Kong’s Admiralty station.

^^ it looks like in tandem with the fairmont project, ayala center will undergo some major overhauling

Another option: the corner of Ayala Avenue and EDSA, where the transport terminal could connect with the light rail transit station, the crowd-drawing SM Shoemart, and the open carpark in front of the Intercon.

That option would mean that the carpark building and the boxy, 60s-era Hotel Intercontinental that occupy the busy corner would have to be demolished.

To help underwrite such a major re-development, an office tower block could be built on top of the planned terminal, similar to Hong Kong’s Admiralty station.

I like this option:okay:

this is also from cocktales..
Another option: the corner of Ayala Avenue and EDSA, where the transport terminal could connect with the light rail transit station, the crowd-drawing SM Shoemart, and the open carpark in front of the Intercon.

That option would mean that the carpark building and the boxy, 60s-era Hotel Intercontinental that occupy the busy corner would have to be demolished.

To help underwrite such a major re-development, an office tower block could be built on top of the planned terminal, similar to Hong Kong’s Admiralty station.

^^ I am in favor of this proposal. At least, it will maximize the use of the space.

Is that the Shell station near RCBC Plaza? I remember hearing it will be torn down for a condo several months if not a year ago.

Actually Fil-Estate is selling the lot. I'm not sure they have the money and credibility right now for such a project. I know a friend in the VC business who said the Fil-Estate had approached them to finish their project at the back that big church along Quezon Ave (Dominican church ba iyon) anyway I think the project is Victoria Heights, basically in the BAnaue Araneta Area. That one is actually partially done but still many people are very wary of this group as a lot of magic came about during the Crisis, where their buyers and lenders got screwed but the owners were still travelling around in their choppers.

Actually Fil-Estate is selling the lot. I'm not sure they have the money and credibility right now for such a project. I know a friend in the VC business who said the Fil-Estate had approached them to finish their project at the back that big church along Quezon Ave (Dominican church ba iyon) anyway I think the project is Victoria Heights, basically in the BAnaue Araneta Area. That one is actually partially done but still many people are very wary of this group as a lot of magic came about during the Crisis, where their buyers and lenders got screwed but the owners were still travelling around in their choppers.

They have yet to finish their mammoth Capitol Tower behind the Q.C. City Hall, the Flatiron Tower lookalike which is Sun Plaza along Shaw Blvd. and some other projects they've not yet finished.

^^ Yeah, I also heard that almost 2-3 years ago that they will remove the Shell Maya station but it's the first time that I hear that Fil-estate is planning a residential condo in the area. Ayala's Columns will just be across the street.

That news 2-3 years ago included that Shell Maya will most likely be converted into a mixed-use complex by Fil-Estate as ALI had swapped their Shell Maya lot into Fil-Estates' share of the North Triangle Mall (Now TriNoma) development.

I'm also doubtful that they'll be able to do another project because of the fact that they can't put up their share for North Triangle Commercial Center (TriNoma now), together with all their unfinished bldgs.

From Vic Agustin's Cocktales Column of today comes this interesting article:

Money-go-round

• The strategic Shell Maya station on Buendia is closing down on March 19 to give way to a residential condominium to be built on the property by the Fil-Estate Group.


Maybe our SkyscraperCity Philippine Forum Guru, Thomasian, can check this out, please?

Thank you and More Power!

I've been checking out news on that since I first listed it on my proposal list ( http://www.skyscrapercity.com/showthread.php?t=275550 proposal#213 on post#3 dated 10.31.05 ) but to no avail. I guess we'll be seeing this move on when another company takes-over it. It won't be that hard selling such prime piece of land.

this is also from cocktales..
...Another option: the corner of Ayala Avenue and EDSA, where the transport terminal could connect with the light rail transit station, the crowd-drawing SM Shoemart, and the open carpark in front of the Intercon.

That option would mean that the carpark building and the boxy, 60s-era Hotel Intercontinental that occupy the busy corner would have to be demolished.

To help underwrite such a major re-development, an office tower block could be built on top of the planned terminal, similar to Hong Kong’s Admiralty station.

It's funny how ALI decided to build the new hotel on the Makati-Arnaiz Ave. lot when they were actually considering demolishing InterCon. InterCon's lot is much bigger than the current planned lot for the new hotel, not to mention it has an Ayala Avenue address. Well maybe ALI could be saving that lot for their own development, unlike the Fairmont which is a joint venture.

------------

P.S. Dami-daming quotes at dami-daming reply. Sumakit tuloy ulo ko. :( Na-overload yata sa dami ng iniisip. May iba pa sana akong iqu-quote, maya-maya naman muna.

^^ IMO, the Hotel Intercon area will be more useful for retail and residential buildings like condominiums to take advantage of the nearby mass transport system. I am ok with Arnaiz area since this is more suited for a hotel development.

Also, the design of Hotel Intercon is already quite outdated and it's about time that it be upgraded or totally replaced. Same goes with the Gilarmi building. Both buildings are sitting on prime locations and it's just a waste if Ayala can't take advantage by building high end structures.

Actually Fil-Estate is selling the lot. I'm not sure they have the money and credibility right now for such a project. I know a friend in the VC business who said the Fil-Estate had approached them to finish their project at the back that big church along Quezon Ave (Dominican church ba iyon) anyway I think the project is Victoria Heights, basically in the BAnaue Araneta Area. That one is actually partially done but still many people are very wary of this group as a lot of magic came about during the Crisis, where their buyers and lenders got screwed but the owners were still travelling around in their choppers.

Don't forget also the unfinished building at the back of Quezon City hall along Matalino St. If I am not mistaken, that's also a fil-estate project.

IMO, the Hotel Intercon area will be more useful for retail and residential buildings like condominiums to take advantage of the nearby mass transport system. I am ok with Arnaiz area since this is more suited for a hotel development.

Also, the design of Hotel Intercon is already quite outdated and it's about time that it be upgraded or totally replaced. Same goes with the Gilarmi building. Both buildings are sitting on prime locations and it's just a waste if Ayala can't take advantage by building high end structures.

Oo nga. I guess nasanay lang ako with a hotel on that area. Maybe I just find it hard to imagine the former terminal become a hotel.

Don't forget also the unfinished building at the back of Quezon City hall along Matalino St. If I am not mistaken, that's also a fil-estate project.

I already mentioned that on tmy post #63, the 33-storey Capitol Plaza Tower of Fil-Estate behind Q.C. City Hall.

^^ Yup, you already mentioned it. My bad. :)

If that happens, what will happen to InterCon? No more InterCon in MM and the Philippines?

^^ I don't know but they still have their Holiday Inn (Galleria, Q.C.), and Crowne Plaza (Galleria, Q.C.) brands here.

Intercon just extended their contract a few years more. Normally they would not put their name anymore on this building which is too old for them BUT they have done so in the hope that Ayala will redevelop the building into a totally new building for them.

^^hope that happens...that building is sooo old. Intercon needs a new building.

my cousin works in Intercon... and all I know is that they're refurbishing their rooms... to look more up-to-date... and so, I'm not sure why it will be demolished...

Dusit would be more applicable to be demolished and replaced.. hehehehe.. :D

^^it's not immediate. Hotels refurbish on a 5 10 25 year scale. Intercon passed it's 25 but ayala did not want to spend the money but alluded that they may be inclined to do a major renovation , which will probably include demolishing the old structure and putting in a taller one which would better use of it's FAR.

Manila Peninsula is also pretty old, but they managed to keep that hotel beautiful through its many renovations (including one right now).

Bustero, do you know the FAR of the lots along Ayala Avenue?

Depends where along Ayala. But in the main part where the office commercial buildings are it's 16, so you have to buy more form other built up lots to get more airspace.

Manila Pen is in a strange place kasi. It's not part of Apartment Ridge which allows high rises. From that Area till Paseo, if you notice all the buildings till Atrium are short , this is because of it's restrictions. Hence it's unlikely that Manila Pen will be redeveloped in the meantime.

Depends where along Ayala. But in the main part where the office commercial buildings are it's 16, so you have to buy more form other built up lots to get more airspace.


Thanks, and could you remind me what the FAR is in the commercial/mixed use core of BGC?

^^ I also would like to retain the villages for added dimension. What I want is for the development to spread to the Washington area along Buendia. Frankly speaking, except for the Urban Bank building, the area requires some big-ticket project. The Buendia stretch from PSBank to Chino Roces (Grepalife area) to Osmena Highway is begging for some high class high rises. If it does then it will stretch the beauty of the Makati skyline further.

^ I agree. I would rather they redevelop the Washington and Pio del Pilar area. This may sound elitist but they could redevelop the area instead of Urdaneta, Bel Air, etc and give current homeowners the priority for the priority for new homes should they redevelop it. I just thought of this because Washington and Pio del Pilar is quite run down and flood prone - and its close to the Makati CBD.

That reminds me, several years ago i heard that Ayala will redevelop Don Bosco and the Chino Roces corridor into a new "Ayala Center"-like development. Don Bosco would then relocate elsewhere. Any news if this is true? I cant say if i like this proposal.:dunno:

^ I agree. I would rather they redevelop the Washington and Pio del Pilar area. This may sound elitist but they could redevelop the area instead of Urdaneta, Bel Air, etc and give current homeowners the priority for the priority for new homes should they redevelop it. I just thought of this because Washington and Pio del Pilar is quite run down and flood prone - and its close to the Makati CBD.

That reminds me, several years ago i heard that Ayala will redevelop Don Bosco and the Chino Roces corridor into a new "Ayala Center"-like development. Don Bosco would then relocate elsewhere. Any news if this is true? I cant say if i like this proposal.:dunno:

For sentimental reasons, I'd rather that Don Bosco Technical Institute (SLV) stays in Makati.

I'd really like to see the redevelopment of Chino Roces Avenue from Kayaman Subdivision down to J.P. Rizal Avenue. But since Binay is the mayor of Makati, I don't think it will happen during his tenure - if you know what I mean. Makati needs a dynamic and focused-on-the-job mayor like Lito Atienza, Sonny Belmonte, or Mrs. Fenando of Marikina City. I've been praying for that (and for Binay and his ilks to get out of Makati - pronto!).

Whoah!!! What is this talk about demolishing the Intercon? God!!! That building is a classic! Who cares if its old??? Its still one of the most prestigious hotels in the country! I really dislike this mentality that if something is old, then it must be demolished. Some buildings like Madrigal, Insular Life, Manila Peninsula, as well as the Intercon must never be demolished because they are such wonderful heritage buildings that must be treasured and enjoyed by future generations! Geeze!!!!

I dont have the mentality of that if its old it must be demolished. I just dont like the old InterCon building, thats it.:D If Ayala tears it down, i wont mind.

Otherwise I'm for the restoration of the classic buildings. Manila Peninsula should never be torn down, its what everyone genuinely think of when they imagine the Ayala-Makati intersection.

^^ What is there not to like? I had a lot of good memories in that building.... :yes:

Depending on where in the fort, the City Center FAR is 12 to 15.

Ayala Ave actually has a defacto higher FAR. If you compute the big buildings like Pbcom. It's probably close to 40 FAR.

My insistence on redeveloping the villages around the CBD's goes way beyond aesthetics or the superficial. The inability of government to impose redevelopment through changes in the zoning in the long run prevents the greater good. And this is pretty clear, whose needs should be prioritized, the 2000 rich families in the 5 villages or millions of people who commute 2 hour each way to work in the CBD. In order to serve these people and make life better for them the government must spend more money on infrastructure in order to transport them. Most ironically these villages of the rich actually are walking distance to the cbd though they do not walk. Think of the Money saved, Time saved, Energy saved, and all that green areas that we don't have to convert cleaning the air retained, with proper Urban Planning. Now if these people want to maintain such luxuries then fine, let us tax them commensurate to the Social and Economic Development cost that this priviledge they wish to adhere costs the Republic and the Government. ON the other hand if we could build higher density housing in these villages, the extra million or so that could live within the city would ultimately cost all of us less. It's just more efficient, it's why current planning theory places a much higher density in central cores, whether there is one or several. The same pretty much goes for the Ortigas/Greenhills Area and QC.

well.. the Washington area does seem to need to be redeveloped.. but not to high-rises maybe... this community serves as the dormitory and apartment area for workers of offices and nearby factories in Makati.... I'd say just beautifying the surrounds would be enough...

I'm not in favor of demolishing the Inter-Con (if ever the Ayalas should decide to do so). Refitting and refurbishing it is fine with me. The Inter-Con is the acknowledged Grand Old Dame of all the buildings in the Makati CBD.

it will be demolished...the question is when?

well.. the Washington area does seem to need to be redeveloped.. but not to high-rises maybe... this community serves as the dormitory and apartment area for workers of offices and nearby factories in Makati.... I'd say just beautifying the surrounds would be enough...

Yeah thats what i had in mind. Or even low cost single family housing is good enough, as long as it is well organized.

I think its far from even considering demolishing the Intercon. They're undergoing a major refurbishment. About 20 mil or something.

They should never, ever demolish the intercon...Its too special to me!... in fact I was made there ( a fact ) hehe

Depending on where in the fort, the City Center FAR is 12 to 15.

Ayala Ave actually has a defacto higher FAR. If you compute the big buildings like Pbcom. It's probably close to 40 FAR.

My insistence on redeveloping the villages around the CBD's goes way beyond aesthetics or the superficial. The inability of government to impose redevelopment through changes in the zoning in the long run prevents the greater good. And this is pretty clear, whose needs should be prioritized, the 2000 rich families in the 5 villages or millions of people who commute 2 hour each way to work in the CBD. In order to serve these people and make life better for them the government must spend more money on infrastructure in order to transport them. Most ironically these villages of the rich actually are walking distance to the cbd though they do not walk. Think of the Money saved, Time saved, Energy saved, and all that green areas that we don't have to convert cleaning the air retained, with proper Urban Planning. Now if these people want to maintain such luxuries then fine, let us tax them commensurate to the Social and Economic Development cost that this priviledge they wish to adhere costs the Republic and the Government. ON the other hand if we could build higher density housing in these villages, the extra million or so that could live within the city would ultimately cost all of us less. It's just more efficient, it's why current planning theory places a much higher density in central cores, whether there is one or several. The same pretty much goes for the Ortigas/Greenhills Area and QC.

Although i like how makati looks like now (how the posh low-rises blends with the hi-rises).. I have to agree with you.. Look at how many millions of hours wasted on travelling time could be saved if mid to hi-rise residential developments cropped up in these 5 villages.

After all, these rich guys never walk anyway...

^^ The millions of hours wasted has nothing to do with the villages surrounding the CBDs and has EVERYTHING to do with the ridiculous bad driving habits of Filipinos, most especially those buses and taxis that behave like maniacs. As far as I can tell, Metro Manila has more than enough roads to sustain its ten million population. The reason why traffic is at a stand still is those undisciplined morons create bottle necks due to their selfishness and hypocrisy...

plus the incapacitated traffic police of the MMDA who are either too old, or does not have the equipment to catch foolish drivers..

^^ reminds me of all those FX, jeepney & taxi drivers that i feel like killing every single morning :lol: :lol:


back to the topic, imo we need to build CBDs in the countryside... that way people do not all have to come to metro manila to work

Hey guys, I had a dream last night that I was in FBGC and that there was a series of SOMA projects that would extend all the way to "SOMA 12 :lol: ." When I looked at the area, the project had reached up to "SOMA 7," which looked like a large tower much like one of the towers of The Icon, but taller and completely cladded in black glass.

Thought it would be a little entertaining to share this with you...

I think the intercon is a landmark by default because it's in a great location. In terms of architecture it's quite forgetable. That's why it's days are most probably numbered (aside from it's poor utilization of density)

Building more CBD's is not the answer. This will result in sprawl the worse kind of urban planning. It's very expensive in terms of infrastructure costs (you have to build way more roads and pipes and electrical lines which have system losses) and very wastefull (not only in terms of system losses but also you eat up more precious farm land, forests , natural habitat etc). There's a reason why the best planned cities are very high and dense, with a lot of greenery in between (e.g. singapore). What we have is high density low rise sprawl, so people live like mice, ave 4sq.m. per person for at least 4 million people.(tip of the iceberg) When our gdp/cap approaches the 2000$/pax level. They will not tolerate this and will require something approaching human levels not mice. So if we can not build near , this 4 million people will have to live even farther , so we will need to build more roads and pipes and electrical lines and lrts etc. If you could accomodate them in the stretch from South Super to North Diversion in midrise, hirise Corridor then you already have most of the infrastructure in place and a lot of the people could just walk to the closest cbd. The villages right now form a moat which prevents most people from getting to the inner parts which is the cbd. And if we make these people drive bad driving habits aside there is still not enough road as a proportion of cars in the city already. Then we'll need to discuss even more double, triple deck road infrastructure, which is even more expensive than opening up the villages.

Depending on where in the fort, the City Center FAR is 12 to 15.

Ayala Ave actually has a defacto higher FAR. If you compute the big buildings like Pbcom. It's probably close to 40 FAR.

My insistence on redeveloping the villages around the CBD's goes way beyond aesthetics or the superficial. The inability of government to impose redevelopment through changes in the zoning in the long run prevents the greater good. And this is pretty clear, whose needs should be prioritized, the 2000 rich families in the 5 villages or millions of people who commute 2 hour each way to work in the CBD. In order to serve these people and make life better for them the government must spend more money on infrastructure in order to transport them. Most ironically these villages of the rich actually are walking distance to the cbd though they do not walk. Think of the Money saved, Time saved, Energy saved, and all that green areas that we don't have to convert cleaning the air retained, with proper Urban Planning. Now if these people want to maintain such luxuries then fine, let us tax them commensurate to the Social and Economic Development cost that this priviledge they wish to adhere costs the Republic and the Government. ON the other hand if we could build higher density housing in these villages, the extra million or so that could live within the city would ultimately cost all of us less. It's just more efficient, it's why current planning theory places a much higher density in central cores, whether there is one or several. The same pretty much goes for the Ortigas/Greenhills Area and QC.

Since you put it that way, I concur with you. Redeveloping some of those villages into transportation linkages into the CBD is a great idea. The original plan of Metro Manila has major arterial roads going to the old downtown Manila and not into Makati (Radial with Circumferential roads). Therefore, i disagree with queetz on his comment that MM has enough roads to sustain the 12-15 million population of Metro Manila and its surroundings, it does not. There are not enough major arterial routes to get you from the north (QC) and the south (Alabang) to Makati. This is the reason why EDSA, C5 and SLEX is congested all the time. Bad driving habits and other destinations such as commercial retail along these routes and other CBDs (Ortigas) along these routes only contribute to the problem. Not that i want more roads, they just need to develop better linkages into downtown Makati through redevelopment of these subdivisions. As long as they keep the trees, i'm fine with that:D


Building more CBD's is not the answer. This will result in sprawl the worse kind of urban planning. It's very expensive in terms of infrastructure costs (you have to build way more roads and pipes and electrical lines which have system losses) and very wastefull (not only in terms of system losses but also you eat up more precious farm land, forests , natural habitat etc). There's a reason why the best planned cities are very high and dense, with a lot of greenery in between (e.g. singapore). What we have is high density low rise sprawl, so people live like mice, ave 4sq.m. per person for at least 4 million people.(tip of the iceberg) When our gdp/cap approaches the 2000$/pax level. They will not tolerate this and will require something approaching human levels not mice. So if we can not build near , this 4 million people will have to live even farther , so we will need to build more roads and pipes and electrical lines and lrts etc. If you could accomodate them in the stretch from South Super to North Diversion in midrise, hirise Corridor then you already have most of the infrastructure in place and a lot of the people could just walk to the closest cbd. The villages right now form a moat which prevents most people from getting to the inner parts which is the cbd. And if we make these people drive bad driving habits aside there is still not enough road as a proportion of cars in the city already. Then we'll need to discuss even more double, triple deck road infrastructure, which is even more expensive than opening up the villages.

Exactly:yes: Building CBDs in the periphery only makes the problem worse! You get increased sprawl, therefore higher cost for infrastructure and more congestion headaches in the long run.

The best solution is to encourage growth outside Metro Manila. Invest more in cities like Cebu, Davao, CDO, Iloilo, Bacolod, Zamboanga, etc. 10-15 million people in Metro Manila (or Mega Manila) is more than enough. Furthermore, it would be ideal if we decreased the population growth of the country, but that will take a lot of time.

Hey guys, I had a dream last night that I was in FBGC and that there was a series of SOMA projects that would extend all the way to "SOMA 12 :lol: ." When I looked at the area, the project had reached up to "SOMA 7," which looked like a large tower much like one of the towers of The Icon, but taller and completely cladded in black glass.

Thought it would be a little entertaining to share this with you...

^^ Well there will be a new set of SOMA twins (Tiower 3 & 4) in FBGC according to Century insiders. :)

Businesworld reports that Century has commited Php 5 billion to develop BPO office spaces to open up 2008 to 2009!

Ayala land will also build a hotel in the IT park in UP.

Businesworld reports that Century has commited Php 5 billion to develop BPO office spaces to open up 2008 to 2009!


if i'm not mistaken, they will be in century city

PSE, Ayala Land to build unified exchange in Ft. Boni

The Philippine Stock Exchange (PSE) said on Thursday that its board has authorized the management to enter into a memorandum of understanding with two property developers for a joint development of the bourse's headquarters in Fort Bonifacio in Taguig City.

In a disclosure, the PSE said it will enter into a preliminary agreement with the country's top developer Ayala Land Inc. and Fort Bonifacio Development Corp.

"The proposed contribution of PSE in the said project is the full market value of the lot owned by Crescent West Development Corp., whose shares of stock are being donated to PSE over several tranches," the PSE said.

The plan to move to a modern headquarters, which will feature a unified trading floor, has been delayed for almost a decade, due to politicking at the PSE board level.

The PSE currently operates two trading floors in the capital -- one in Makati City and another in Pasig.

PSE president Francis Lim earlier told ABS-CBN the management was studying the option of swapping the PSE property in favor of a better location on Fifth Street at the Fort.

"Our target is to have a unified exchange by 2010. I hope that will happen given this new development," Lim said

^^ YES! that's great news for BGC :banana:

[B]

The plan to move to a modern headquarters, which will feature a unified trading floor, has been delayed for almost a decade, due to politicking at the PSE board level.



Oh please! The only reason why we don't have a unified trading floor is because of Ayala!

I wonder if they will resurrect Capital Place? Otherwise, I won't get too excited simply because it will probably be just another short Fort Boni box....

PSE, Ayala Land to build unified exchange in Ft. Boni

The Philippine Stock Exchange (PSE) said on Thursday that its board has authorized the management to enter into a memorandum of understanding with two property developers for a joint development of the bourse's headquarters in Fort Bonifacio in Taguig City.

In a disclosure, the PSE said it will enter into a preliminary agreement with the country's top developer Ayala Land Inc. and Fort Bonifacio Development Corp.

"The proposed contribution of PSE in the said project is the full market value of the lot owned by Crescent West Development Corp., whose shares of stock are being donated to PSE over several tranches," the PSE said.

The plan to move to a modern headquarters, which will feature a unified trading floor, has been delayed for almost a decade, due to politicking at the PSE board level.

The PSE currently operates two trading floors in the capital -- one in Makati City and another in Pasig.

PSE president Francis Lim earlier told ABS-CBN the management was studying the option of swapping the PSE property in favor of a better location on Fifth Street at the Fort.

"Our target is to have a unified exchange by 2010. I hope that will happen given this new development," Lim said

YES! Oh please, build Capital Place!

Capital Place? Was that the sharp, glassy building? Was it supposed to contain the PSE? It would be nice to see that building see light.

Capital Place? Was that the sharp, glassy building? Was it supposed to contain the PSE? It would be nice to see that building see light.

Yes, sharp and glassy. It was supposed to house the PSE, Grand Hyatt Hotel and a 50 storey (or more) office tower.

Good news! I hope the Capital Place design is brought back, instead of designing a new building. I quite like that design, perhaps someone should post it up again! Hehe.

The move of PSE to the Fort will definitely make it a premier CBD and will bring more office developments around the city center. Can't wait to see more projects.

Great News indeed! Looks like the next stage in FBGC's evolution into a real premier CBD is finally in the works. Anybody knows if the alternative Unified Trading floor location on 5th Avenue is the same lot/location (Institutional Row) in Fort Boni along 5th Avenue that was originally reserved for them? :) :) :)

PSE, Ayala Land to build unified exchange in Ft. Boni
The Philippine Stock Exchange (PSE) said on Thursday that its board has authorized the management to enter into a memorandum of understanding with two property developers for a joint development of the bourse's headquarters in Fort Bonifacio in Taguig City.

In a disclosure, the PSE said it will enter into a preliminary agreement with the country's top developer Ayala Land Inc. and Fort Bonifacio Development Corp.

"The proposed contribution of PSE in the said project is the full market value of the lot owned by Crescent West Development Corp., whose shares of stock are being donated to PSE over several tranches," the PSE said.

The plan to move to a modern headquarters, which will feature a unified trading floor, has been delayed for almost a decade, due to politicking at the PSE board level.

The PSE currently operates two trading floors in the capital -- one in Makati City and another in Pasig.

PSE president Francis Lim earlier told ABS-CBN the management was studying the option of swapping the PSE property in favor of a better location on Fifth Street at the Fort.

"Our target is to have a unified exchange by 2010. I hope that will happen given this new development," Lim said

Good news! I hope the Capital Place design is brought back, instead of designing a new building. I quite like that design, perhaps someone should post it up again! Hehe.

The move of PSE to the Fort will definitely make it a premier CBD and will bring more office developments around the city center. Can't wait to see more projects.

Here you go:
http://edmundtanso.smugmug.com/photos/2703331-L.jpg
http://edmundtanso.smugmug.com/photos/2703332-L.jpg

In unrelated matters...I found this rendering of a SunLife Financial HQ in BGC. What ever happened to this proposal?
http://edmundtanso.smugmug.com/photos/2206279-L.jpg

Capitol Place is supposed to be on 26th I think. Closer to the area of Dencios. With the Ayala alignment in the Fort, it's now on the fringe hence not so prime. Interesting Development though if it pushes through , I hope they maintain the idea of a superskyscraper high status building.

Capitol Place is supposed to be on 26th I think. Closer to the area of Dencios. With the Ayala alignment in the Fort, it's now on the fringe hence not so prime. Interesting Development though if it pushes through , I hope they maintain the idea of a superskyscraper high status building.


Here you go:
http://edmundtanso.smugmug.com/photos/2703331-L.jpg
http://edmundtanso.smugmug.com/photos/2703332-L.jpg


i agree and hopefully something better than ^^

found a rendering of the new 7 story MMC building
http://i68.photobucket.com/albums/i37/llaurenversion3/mmc.jpg

and here's a rendering of St. Luke's Hospital, BGC which is said to open in 2009
http://i68.photobucket.com/albums/i37/llaurenversion3/stlukesbgc.jpg

^^
Oh my!!! Capitol Place - sweet

And about that MMC expansion... sobrang lalim ng hukay nila. I like the design of the new buildin, it kind of blends with the old one. Then again... I think, with this rendering, they're changing/renovating the facade of the original building???

[QUOTE=GreyX;12175476]Here you go:
http://edmundtanso.smugmug.com/photos/2703331-L.jpg
http://edmundtanso.smugmug.com/photos/2703332-L.jpg


I really like the buildings. It just makes you say "classy". But knowing that the Unified Stock Exchange will be a sort of milestone for PSE then rest assured that they will indeed try to erect a very high end structure/complex. They have to remember that TV business news, both locally and abroad, will feature that building/complex as a backdrop while reporting Philippine stocks/business. So if they really want to entice would-be local and foreign investors, the design of the structures should at the very minimum be in the caliber of Capital place.

uy ganda nang MMC ahh..

so hindi gigibain?? aayusin lang? kailan kaya mag start yan?

found a rendering of the new 7 story MMC building
http://i68.photobucket.com/albums/i37/llaurenversion3/mmc.jpg

uy ganda nang MMC ahh..

so hindi gigibain?? aayusin lang? kailan kaya mag start yan?

It says a new seven storey building...so my guess is that this is a rendering of the u/c building on the lot in front of RCBC. Its a modernized version of the existing building...i like it.

Makati Med has started. We've been talking about it. They're doing some digging and construction already. They're only expanding the existing facility and refurbishing and recladding it. Looks like the Island is becoming bigger as well.

Where'd you get the renders Lauren?

Makati Med has started. We've been talking about it. They're doing some digging and construction already. They're only expanding the existing facility and refurbishing and recladding it. Looks like the Island is becoming bigger as well.

Where'd you get the renders Lauren?



i got them from the special section of yesterday's businessworld

The future British Embassy to be located in McKinley Hills, Fort Bonifacio...
http://www.worldarchitecturenews.com/project/uploaded_files/516_385%20Denton%20Corker%20British%20Embassy%20Manila.jpg

International architects Denton Corker Marshall have been commissioned by The Foreign and Commonwealth Office (FCO) to design a new British Embassy for Manila in the Philippines. The purpose-built centrally-located building will provide new office and visa facilities. The new British Embassy is a low rise building in a garden setting designed to project an image of modern Britain. It will combine innovative architecture and environmentally sensitive design, with the modern-day needs of security. It is a composition of four elements: two juxtaposed burnished metal blocks - one canted against the other, a stone block, and a plane of greenery forming the entry canopy. The contrast between these simple, abstract forms and the rich generosity of enveloping landscape will give the building a welcoming but powerful presence.

Another one...

http://i138.photobucket.com/albums/q260/nestopix/Brit_emb_1.jpg

:eek: very nice! I like the greenery integrated into the security walls.

found a rendering of the new 7 story MMC building
http://i68.photobucket.com/albums/i37/llaurenversion3/mmc.jpg

Construction has already started. I was at Makati Med last March 14 and saw the renderings at the lobby.

http://i63.photobucket.com/albums/h141/oboi_1/makatimed.jpg
Taken last March 12


http://i63.photobucket.com/albums/h141/oboi_1/makatimed-1.jpg
Taken last March 04

^ Thanks for the update. Where did you take those pics from, Burgandy Corporate center?

when will makati med be finished ? that would be nice if they could make the addition taller. i think they also need to refurbish the inside though.

The future British Embassy to be located in McKinley Hills, Fort Bonifacio...

very cool design! i hope to see more of these desig from our local architects

i think they also need to refurbish the inside though.

I think they will do that with its planned (or has it started?) renovation.

wow with all these UC projects ,there really is a construction boom , at least in metro Manila. and the buildings keep getting better and better.

^ Thanks for the update. Where did you take those pics from, Burgandy Corporate center?

Nope, taken from West of Ayala. Sometimes I'm here but oftentimes I'm in Mandaluyong.

I hope they build a multi level basement parking on the new building of MMC... Parking there is terrible...

oh boi thanks for the actual photo of the u/c site and to Lauren for the rendering. now i can imagine how everything will look like!

by the way... Sun Life Financial will be moving to Lepanto Bldg.

It seems Ascott has taken over Oakwood. The Oakwood signage has been brought down and replaced by Ascott.

Yup, they started doing it almost 2 weeks ago...

really. haven't been to Ayala centre lately.

by the way, i read from biz section of Manila Bulletin yesterday that Waterfront Hotel has a 3000 m2 lot each at Fort Boni and Buendia, Makati which will be the site for luxury hotels. Anyone has more info about this?

hey, theres a Big lot right infront of RCBC. Big enough for something really tall...

really. haven't been to Ayala centre lately.

by the way, i read from biz section of Manila Bulletin yesterday that Waterfront Hotel has a 3000 m2 lot each at Fort Boni and Buendia, Makati which will be the site for luxury hotels. Anyone has more info about this?

There are several properties which may be worth watching along Buendia. One is the vacant lot near the One Roxas Triangle, Buendia cor Paseo. The other is a lot along Buendia on one side and Jupiter St on the other side. It is the lot vacated by the Auto Second Hand sale which transferred to the lot near the corner of EDSA and Buendia. The other lot is beside the proposed lot of Grand Soho Makati. The Washington area also has a lot of vacant lots but considering the area, I doubt if it will host a luxury hotel.

Manila Jockey Club to lease Sta Cruz and Carmona properties to BPO's



Gaming and property firm Manila Jockey Club, Inc. (MJCI) announced Tuesday a 10-percent cash payout worth P35.92 million for its shareholders.

In a disclosure to the Philippine Stock Exchange, Manila Jockey said it will pay P0.10 per share on May 3 to shareholders on record as of April 3.


The horse racing operator said it will hold its annual stockholders' meeting on June 29.

The Manila Jockey Club, which is Southeast Asia's oldest racing club founded in 1867, earlier said it was planning to spin off a business process outsourcing (BPO) business.

It said it will lease its 3.5-hectare property in Sta.Cruz, Manila to a local consortium that will construct buildings for a BPO office.

Its Carmona property will also host a BPO office. The company said it was reserving 4 hectares of their 60-hectare Carmona, Cavite property for a BPO hub.

In 2001, The Manila Jockey Club sold 4 hectares of its 16-hectare San Lazaro property to SM Prime Holdings, which built the SM San Lazaro mall on the property.

^^ My uncle has been bugging me to buy Manila Jockey shares but the liquidity is so bad I didn't bother. Plus when they finally traded today, share price actually went down. I've been to their Carmona complex and it is quite impressive in the outside. But their casino is kinda small and there aren't really that many people (food is great though). The area itself isn't so easily accessible either. Now they want to set up a BPO office? Either the area will boom or will suck, depending on how its implemented.

E-City Manila rises
BIZLINKS By Rey Gamboa
Publication Date: [Monday, March 19, 2007]


If the objective is to boost tourism and make the Philippines a major player in this competitive sector, there is no reason for the country to dilly-dally on plans that were hatched more than two years ago to transform some 300 hectares of prime property along Manila Bay into a premier entertainment and amusement center.

Even while Macau and Singapore are already forging ahead with their respective but similar plans to capture a sizeable chunk of the tourism and gaming markets of Europe and America, it is not yet too late for the Philippines to play catch-up.

As the astute Pagcor chairman, Efraim Genuino, often says with quiet confidence, the Philippines can easily rival its regional competitors because Filipinos are more hospitable and friendlier and with huge potential to offer much more to tourists.

If the fully-subscribed upcoming international conference and exposition on gaming and entertainment this week (21st to 23rd March) is going to be an indication of the chairman’s self-assurance, then we should expect some really big action within the next few months.

The big players in the gaming industry, not just in the Australia-Asian region but even Las Vegas and Russia, are going to be well-represented in the two-day exposition that starts on March 22 at World Trade Center. Signs of the times
Global gaming and tourism has never been so bullish. Even in Asia, all indicators clearly point to robust growth — not just from potential tourists from the northern hemisphere, but even from the Chinese who are experiencing double-digit growth in personal fortunes.

Tourism worldwide alone has the potential to grow by 4.5 percent in terms of arrivals, with the Asia Pacific region grabbing top share. Gaming and entertainment, on the other hand, is estimated to grow six percent annually in the next 20 years.

During the last five years, there has been a merging of the tourism and gaming industries that has resulted in healthier earnings — and a new outlook. This explains why Singapore, which formerly frowned on gaming, is now integrating casino operations in its latest tourism blueprint.

Traditional casino operators from Las Vegas to date rely on more than 75 percent of their income from entertainment- and tourism-related investments; this formula is being successfully introduced in Macau. No wonder then that the former monopoly of Stanley Ho in the former Portuguese protectorate is being whittled down by such American hotel-casino complexes as Sands, Wynn’s and MGM Mirage. Manila’s bid
Recognizing the synergies created by a strong combination of tourism, entertainment and gaming, Pagcor is actively involved in soliciting offers from potential foreign investors and locators in the planned P15-billion development complex on the 300-hectare Manila Bay property.

Initially, the proposed tourism investment zone will dwell on a tropical resort setting. It will be marketed as E-City Manila (E for Entertainment), and will be positioned as the hub of gaming, entertainment and tourism in Asia.

Chairman Genuino, I understand, had been in exploratory talks with several possible business interests as early as 2005. Genuino is confident that the impasse created by the issue of Pagcor’s expiring franchise is finally out of the way and that discussions are moving forward on firmer ground.

There should also be some substantial agreements during the 2nd meeting of the Euro-Asian Cooperation on Gaming on March 21 at the New Hyatt in Manila which would be attended by prominent gaming complex owners, operators and gaming suppliers based and/or operating in Asia and Europe. Forging alliances
Prior to the expo at the World Trade Center, the whole-day gaming and investment conference on March 21 at the New Hyatt in Manila would be featuring global gaming personalities.

Dr. Ambrose So of Shun Tak Holdings and Sociedad de Jogos de Macau, SA will talk about the evolution of gaming in Asia. Andrew Love, chairman and CEO of The Ritz London, and Paul Beottcher, chairman and CEO of Storm International (Russia), will both tackle the current state of the European gaming industry.

Dr. Henk Kivits, chairman of the board and CEO of Holland Casino, will elaborate on their various socially relevant programs aimed at curbing compulsive gambling.

Sebastian Salat, vice president and managing director of International WMS, will discuss the evolution of gaming machines. And finally, the legendary Steve Wynn, chairman of the board and CEO of Wynn Resorts in Las Vegas and Macau will provide some insights on building strategic alliances between the East and the West.

Sen. Juan Ponce Enrile has also been invited to give his insights on the state of Philippine gaming and tourism.

Other noteworthy parallel activities during the expo are a two-day card dealing competition open to casino employees worldwide, and a celebrity charity Texas Hold’em poker tournament. Both are open to the public. Additional details about Asia’s gaming expo in Manila are available on www.asiangemphil.com.

http://www.philstar.com/philstar/show_content.asp?article=307408

wow... I hope the Manila Bay City would soon boost up and get these gaming investors... it would definitely help in the tourism sector...

hey nice to see Jamaicus posting again. :D

@ Venntro, i haven't noticed the 2nd hand auto shop moving out of their original location. and yeah, that lot beside ORT is sizeable enough for a luxury hotel. That could be a very ideal location to give Mandarin a good competition.

And has not Bel-air side of Buendia upgraded its FAR recently? There are a lot of prime lots from EDSA to Columns.

E-City Manila rises
BIZLINKS By Rey Gamboa
Publication Date: [Monday, March 19, 2007]


If the objective is to boost tourism and make the Philippines a major player in this competitive sector, there is no reason for the country to dilly-dally on plans that were hatched more than two years ago to transform some 300 hectares of prime property along Manila Bay into a premier entertainment and amusement center.

Even while Macau and Singapore are already forging ahead with their respective but similar plans to capture a sizeable chunk of the tourism and gaming markets of Europe and America, it is not yet too late for the Philippines to play catch-up.

As the astute Pagcor chairman, Efraim Genuino, often says with quiet confidence, the Philippines can easily rival its regional competitors because Filipinos are more hospitable and friendlier and with huge potential to offer much more to tourists.

If the fully-subscribed upcoming international conference and exposition on gaming and entertainment this week (21st to 23rd March) is going to be an indication of the chairman’s self-assurance, then we should expect some really big action within the next few months.

The big players in the gaming industry, not just in the Australia-Asian region but even Las Vegas and Russia, are going to be well-represented in the two-day exposition that starts on March 22 at World Trade Center. Signs of the times
Global gaming and tourism has never been so bullish. Even in Asia, all indicators clearly point to robust growth — not just from potential tourists from the northern hemisphere, but even from the Chinese who are experiencing double-digit growth in personal fortunes.

Tourism worldwide alone has the potential to grow by 4.5 percent in terms of arrivals, with the Asia Pacific region grabbing top share. Gaming and entertainment, on the other hand, is estimated to grow six percent annually in the next 20 years.

During the last five years, there has been a merging of the tourism and gaming industries that has resulted in healthier earnings — and a new outlook. This explains why Singapore, which formerly frowned on gaming, is now integrating casino operations in its latest tourism blueprint.

Traditional casino operators from Las Vegas to date rely on more than 75 percent of their income from entertainment- and tourism-related investments; this formula is being successfully introduced in Macau. No wonder then that the former monopoly of Stanley Ho in the former Portuguese protectorate is being whittled down by such American hotel-casino complexes as Sands, Wynn’s and MGM Mirage. Manila’s bid
Recognizing the synergies created by a strong combination of tourism, entertainment and gaming, Pagcor is actively involved in soliciting offers from potential foreign investors and locators in the planned P15-billion development complex on the 300-hectare Manila Bay property.

Initially, the proposed tourism investment zone will dwell on a tropical resort setting. It will be marketed as E-City Manila (E for Entertainment), and will be positioned as the hub of gaming, entertainment and tourism in Asia.

Chairman Genuino, I understand, had been in exploratory talks with several possible business interests as early as 2005. Genuino is confident that the impasse created by the issue of Pagcor’s expiring franchise is finally out of the way and that discussions are moving forward on firmer ground.

There should also be some substantial agreements during the 2nd meeting of the Euro-Asian Cooperation on Gaming on March 21 at the New Hyatt in Manila which would be attended by prominent gaming complex owners, operators and gaming suppliers based and/or operating in Asia and Europe. Forging alliances
Prior to the expo at the World Trade Center, the whole-day gaming and investment conference on March 21 at the New Hyatt in Manila would be featuring global gaming personalities.

Dr. Ambrose So of Shun Tak Holdings and Sociedad de Jogos de Macau, SA will talk about the evolution of gaming in Asia. Andrew Love, chairman and CEO of The Ritz London, and Paul Beottcher, chairman and CEO of Storm International (Russia), will both tackle the current state of the European gaming industry.

Dr. Henk Kivits, chairman of the board and CEO of Holland Casino, will elaborate on their various socially relevant programs aimed at curbing compulsive gambling.

Sebastian Salat, vice president and managing director of International WMS, will discuss the evolution of gaming machines. And finally, the legendary Steve Wynn, chairman of the board and CEO of Wynn Resorts in Las Vegas and Macau will provide some insights on building strategic alliances between the East and the West.

Sen. Juan Ponce Enrile has also been invited to give his insights on the state of Philippine gaming and tourism.

Other noteworthy parallel activities during the expo are a two-day card dealing competition open to casino employees worldwide, and a celebrity charity Texas Hold’em poker tournament. Both are open to the public. Additional details about Asia’s gaming expo in Manila are available on www.asiangemphil.com.

http://www.philstar.com/philstar/show_content.asp?article=307408


I remember seeing a rendering of the E-City. Can anyone post the rendering here?

E-City Manila rises


Nice...
From what I remember of the render, this Entertainment City has a "tower" and has its own monorail ala Las Vegas.

I hope this pushes through asap. Kelangan madami agad ang investors, one time big time ika nga, para mabilis.

What happened to that science park proposal sa reclaimed land din?

hopefully, E-city will come into fruition as soon as possible. it would really boost tourism and the economy. sana steve wynn would develop a hotel or two in E-city. i'd love to see something like wynn or bellagio in manila.

Pagcor should really take advantage of the Philippines' hosting of the International Conference for Gaming this week. They should corner all these gaming big-wigs and enter into Memoranda of Agreement to jumpstart the already-delayed E-city. This will really complement other big ticket tourism projects in the area.

A foreign tourist will have a complete intenerary in Manila alone. From Intramuros to the Ocean Park to Luneta to Baywalk to the PICC/CCP complex to the SM MOA area to the proposed Science Park to E-City. What more can they ask? Oh, a pit stop along Ermita for the "adventurous" tourist. For the religious ones, Manila Cathedral inside Intramuros. All in just one long, very long stretch. And that is just one part of Manila. Don't get me started with the malls. So much variety! You have culture, history, science, animals, shopping, gaming, relaxation, entertainment and religion. What more can you ask for?

^^ i totally agree. maybe they can redevelop manila zoo as well.

^^^ good point sobrang dilapidated na zoo natin. Di ito nasama sa "buhayin ang maynila" project ni atienza

DMCI property unit to spend P3B for expansion projects

DMCI Homes, the property development unit of construction firm DMCI Holdings Inc., announced a P3-billion expansion of its residential portfolio involving five middle-income residential projects.

Alfredo Austria, managing director of DMCI Homes, said his company was expecting to generate revenue of P8 billion from the projects.

In Taguig City, DMCI Homes is building an 86-hectare property of mid-rise and high-rise condominiums called the Township Central, which is close to major business and commercial centers of Makati and Ortigas.

It will also build an 8,000-sqm, two-story commercial hub of retail and service shops for the community.

Within the land area are the three-tower high-rise condominiums Cypress Towers and the Neo-Asian residential homes, the Rosewood Pointe.

The Cypress Towers, which consist of 20 stories each, had a development cost of around P1 billion including construction and design. It will be completed and turned over to buyers by June next year.

Austria said Township Central will have its first batch of occupants by May.

DMCI also offers high-rise condominiums in Mandaluyong City, the Tivoli Gardens Residences, which cater to city dwellers seeking green tropical views.

It also developed Riverfront Residences in Pasig City, which is a mid-rise community with a 3,000-sqm manicured linear park in the Marikina riverside.

Austria said about 350 units in all five projects have been sold since March. He said the company is confident that all units will be sold upon completion.

He said that five projects usually take about two and a half years to build.

Austria said DMCI Homes continuously develops projects, whether or not there are buyers, to bring down construction costs.

^^ DMCI is the ultimate fish that got away for me. I had a chance to buy DMCI shares when they were below 6.00 php during the recent market corrections and I blew it! :wallbash:

Watch ANC ... it seems a M.O.A. has been made between a bunch of foreign casino operators and PAGCOR ready to build E-City; intial cost is 10 Billion...

^^ Just turned in ANC and they are talking about some survey about hunger. Is there a specific time?

^^ Just turned in ANC and they are talking about some survey about hunger. Is there a specific time?

Ahh sorry... they just finished; that was before the survey discussions...

^^ :banana: Whoa! That's really good news. But a MOA is really just a preparatory contract, merely exploratory. Feasibility studies will still be conducted etc.. Hope it gets fast tracked since Singapore and Macau are quite aggressive in promoting themselves as gaming hubs. I've seen the Singapore plan through Channel News Asia and the plan was quite ambitious to say the least. I'll be watching Business News Nightly tonight and perhaps get some other details.

Watch ANC ... it seems a M.O.A. has been made between a bunch of foreign casino operators and PAGCOR ready to build E-City; intial cost is 10 Billion...

astig... :) :)

i'll watch business nightly sa ANC nalang mamayang gabi.., sigurado babanggitin yan.. :)

Still hot off the press!!

Pagcor, Greece's Loutraki Casino in talks for a project

BY LIZA REYES


State-owned gaming operator Pagcor said on Wednesday it was in talks with Greece's Loutraki Casino which wants to bid for the right to develop the first phase of the government’s 800-hectare gaming project in the capital.


The Philippine Amusement and Gaming Corp. (Pagcor) hopes to bid out the contract this year for the $10-billion development of the first phase covering 42 hectares, company chairman Efraim Genuino said on the sidelines of an international gaming conference in Manila.

“Loutraki is the biggest gaming operator in Europe. It’s from Greece,” said Genuino, who expects development of the first phase to be completed in two to three years.

“We're just finalizing the technical requirements before we start bidding them out. They're (potential investors) still waiting for the technical requirements so that they can comply."

The Philippines, which has a total public sector debt of P5 trillion or 87.7 percent of GDP as of June 2006, is eager for investments and the tax revenues gambling provides. Its casino monopoly Pagcor, which currently operates 13 casinos nationwide, is its biggest source of state income after taxes.

Genuino is hoping to hit the jackpot with the massive gaming and leisure project which would be built on an 800-hectare site of reclaimed land in Manila.

He was also hoping to generate more investments under a looser Congressional franchise.

Under the new Pagcor Charter, which is pending at bicameral conference committee, the Philippine casino operator may now enter into joint ventures with private investors.

The project, called Bagong Nayon Pilipino Entertainment City, is envisioned to be a total entertainment complex, complete with casinos, resorts, restaurants and a theme park.

"This will be a total entertainment package. It’s not just gaming but an entertainment complex for the family," Genuino said. “To attract tourists, we the design and approach to the project must be new compared to other Asian casinos.”

^^ So the reporter in ANC was right, 10 Billion "dollars" ...

^^ And that $10 Billion is just the first phase.

^^Wow good news magdasal na tayo for our country. I hope the Church and antigambling mongers don't torpedo this great boost for tourism again.

For more on the PAGCOR project... check out this thread --->

http://www.skyscrapercity.com/showthread.php?t=454400&highlight=pagcor

Chinese mogul to invest up to $4B in RP
By Marvin Sy
The Philippine Star 03/22/2007

China’s second richest man has decided to invest between $2 billion to $4 billion in the Philippines, primarily to develop high-end hotels and residential properties.

Trade Secretary Peter Favila said an agreement between the Shimao Group of China and the Bases Conversion Development Authority (BCDA) would be signed today to pave the way for the multi-billion dollar investment.
Shimao Group chairman Xu Rongmao, who is listed by Forbes Magazine as the second richest man in China for 2006, personally met with President Arroyo last Tuesday night during which he announced his decision to invest in the country.

Favila revealed that the investment would go into the BCDA properties in Fort Bonifacio in Taguig, including the 35.5-hectare Jusmag property.

The group is also in the process of exploring sites in Palawan for an investment into the tourism sector.

He pointed out that a team of the Shimao Group came over to the country last February to look at the possibility of making an investment.

"We met with them. We suggested that now that they have seen what the country has to offer, maybe they should go around and ask the private sector for them to have a good feel of what is in store in the Philippines," Favila said.

During Tuesday’s night meeting, Xu informed the President and Favila that he sees a huge market in the Philippines in terms of hotels.

In the Association of Southeast Asian Nations where Chinese tourist arrivals registered at around 10 million, the Philippines hosted only 300,000 of the figure so Favila argued that there is still a huge potential to develop the market.

For Palawan, Mr. Xu said that he is looking at San Vicente where he intends to develop an airstrip.

Malacanang assured Mr. Xu that he has the go signal to develop whatever infrastructure he thinks is needed for his investment.

Under the agreement, the BCDA will be a lessor and according to Favila, the government is willing to provide the Shimao Group the longest term possible.

Mr. Xu also asked about the foreign ownership issue in the country to which Favila pointed out that it is one of the proposed amendments as far as the economic provisions in constitution are concerned.

The Shimao Group is one of the biggest real estate developers in China, whose stock is listed in Hongkong.

Favila noted that the Shimao Group owns three listed companies namely the Shimao Property Hongkong, Shimao Stock, Shanghai and the Shimao International Off-shore in Hongkong.

The firm is involved in the development of high-end residiental and commercial properties and five-star hotels.

It owns hotels in Australia, Russia, China and other countries in Southeast Asia.

Mr. Xu told Favila that the floor area of its development in the country would be around 10 million square meters.

Meanwhile, the RockCheck Steel Group Co. Ltd. of China has also expressed its intention to invest an initial $200-million for the construction of a ferro nickel plant in Eastern Samar.

The company’s chairman Zhang Xiangqing informed the President of his company’s plan to set up the modern nickel plant at the Hinatuan Mining Corporation (HMC) plant site in Manicani, Guiuan, Eastern Samar.

"I am determined to bring more investments here in the Philippines. Filipinos are very hardworking, kind and good. I am impressed with your very good government, with your great leadership, it’s very democratic and very hospitable," Zhang told the President during his courtesy call in Malacañang yesterday.

Rockcheck Steel Group, one of China’s top 100 corporations, has a combined steel production of 3.5 million tons with annual sales last year reaching more than 22 billion yuan or $300 billion.

The firm has a total property worth 5.5 billion yuan or $ 700 million and more than 7,000 employees.

Rockcheck Steel has signed an agreement with Fulim Mining and Export Corporation, the exclusive marketing arm of HMC in China, to set up the modern ferro nickel plant at the HMC mining site in Manicani.

Construction will commence on the third quarter of this year and when fully operational, the new plant will employ at least 5,000 local residents.

http://www.philstar.com/philstar/news200703220701.htm

Where is the Jusmag property? near BGC?

I just checked out their website (http://www.shimaogroup.com/english/main.asp) and they have a lot of top-notch properties. Including a Hyatt and Le Meridien in Shanghai. Very good news for the hotel industry of the Philippines:)

all great news! hope to see it to reality!

There are so many big ticket projects being launched nowadays. We are not only talking about single building developments but township/complex projects. I think three of these big ticket projects are as follows:

(a) PAGCOR's Bagong Nayon Pilipino Entertainment City;
(b) Ayala's Fairmont Kingdom Hotels development;
(c) Century City project.

These projects will be a fitting follow-up on the previous big ticket items which are presently being developed namely: FGBC and Rockwell.

Good times!

let me just add...
(d) the continuing development of BGC

Another report , this time from businessworld regarding the chinese development.

Vol. XX, No. 168
Thursday, March 22, 2007 | MANILA, PHILIPPINES
Today’s Headlines

BY JOSEFA L. CAGOCO, Reporter
China property giant to invest $2-$4 billion

Shanghai-based Shimao Property Holdings Ltd. plans to invest $2 billion-$4 billion in hotel, entertainment, as well as in mixed development buildings for office, residential and commercial use in the Philippines within the year under long-term leases, Trade Secretary Peter B. Favila told reporters yesterday.

Shimao Group chairman Hui Wing-Mau, named by Forbes as having one of the 10 biggest private fortunes in China in 2002, will sign today a memorandum of understanding (MoU) with Bases Conversion Development Authority (BCDA) Chairman Aloysius R. Santos and President/CEO Narciso L. Abaya, said Mr. Favila.

BCDA Vice-President Aileen Anunciacion R. Zosa told BusinessWorld in a separate interview that the MoU involves giving Shimao all the data it needs to conduct a feasibility study for projects in Bonifacio Global City. "The agreement will give the Shimao Group a foothold to a sizeable portion of land in Bonifacio Global City," she said, adding this will be Shimao’s first venture in the Philippines.

Mr. Favila told reporters both the government and Shimao hope a formal signing will be held during President Gloria Macapagal Arroyo’s visit to Shanghai late next month.

"I had dinner with him [Mr. Hui] last night and it was last night when he informed the president of his decision," Mr. Favila said. "Initially, they will invest $2 billion, but that could rise to close to $4 billion."

The envisioned long-term leases will allow the Chinese group to put up hotels in Fort Bonifacio on the outskirts of the Makati financial district and in Quezon City. Fort Bonifacio is one of the fastest-growing upscale districts in Manila, with high-rise apartment blocks and office towers coming up on the site of a former military camp. Mr. Favila said Shimao is also exploring sites to develop in northern Palawan. They are also interested in developing their own airstrip, he added.

According to its web site, Shimao Group is an international, all-round investing firm which has been around in China for two decades and has interests in real estate, tourism, hotel, general merchandise, and import and export trade.

Shimao Property raised $477 million at its initial public offering (IPO) in the Hong Kong Stock Exchange in July last year, and a $600 million in a dual tranche bond offer in November. Its legal adviser for its Hong Kong IPO, Freshfields Bruckhaus Deringer, said in its statement at the end of that offering that the property firm would use part of the funds raised to finance existing and new projects.

As of July last year, property development projects of Shimao — a large-scale developer specializing in high-end developments in prime locations — were concentrated in Shanghai, Beijing, Harbin, Wuhan, Nanjing, Fuzhou, Kunshan, Changshu, Shaoxing and Wuhu, all in China. The Chinese group has been increasing its landbank, with a purchase in Shenyang city in China’s Liaoning province in December increasing its total landbank to 17.2 million square meters.

"Their business is the development of high-end residential and commercial properties and high-end five-star hotels. They have huge hotels all over managed by the likes of Shangri-la. They have hotels in Australia, South East Asia, Russia and China," said Mr. Favila.

A team from Shimao Group came over in February to have a "look see," encouraged by the government’s previous business missions in China, he added. "Every time we go to China with the President, we always say that there are a lot of things happening in the Philippines. This will be an opportune time to take a look," he recalled.

Shimao Property is eyeing BCDA’s Fort Bonifacio property, particularly the 35.5-hectare JUSMAG (Joint United States Military Advisory Group) compound, said Mr. Favila. The Supreme Court allowed BCDA late last year to take possession of the property after it denied with finality the petition filed by Southside Homeowners Association Inc., a group military officers staying on the JUSMAG land and laying claim to the asset.

In a previous statement, the BCDA said that once developed, the property could command at least P50,000 per square meter of developed saleable land, while BCDA’s revenues could reach P4 billion to P5 billion.

Mr. Hui, recalled Mr. Favila, recognized the potential of the local tourism industry, which still has a lot to be developed in terms of total room capacity and occupancy rates. The Chinese investor particularly wants to bank on the huge Chinese tourist base in Southeast Asia. "Based upon the arrivals of Chinese nationals from Shanghai and Beijing, he saw the potential because Chinese tourists in [Southeast Asia are] about 10 million and we only hosted 300,000," said Mr. Favila.

Mr. Favila admitted that Mr. Hui expressed concern about foreign ownership limitations set by the Constitution.

Mr. Favila gave assurances that this was a priority economic amendment in the aborted moves to amend the charter.

"I told them the best way to address this [constraint] is through a long-term lease," and if Constitution is amended, they could have the option to purchase the land, said Mr. Favila. — with a report from Reuters

^^ Does anyone know where in FGBC and where in Quezon City will be the sites of the hotels of the Shimao group?

Chinese mogul to invest up to $4B in RP (http://www.abs-cbnnews.com/storypage.aspx?StoryID=70918)


By MARVIN SY

The Philippine Star

China’s second richest man has decided to invest between $2 billion to $4 billion in the Philippines, primarily to develop high-end hotels and residential properties.

Trade Secretary Peter Favila said an agreement between the Shimao Group of China and the Bases Conversion Development Authority (BCDA) would be signed Thursday to pave the way for the multi-billion dollar investment.

Shimao Group chairman Xu Rongmao, who is listed by Forbes Magazine as the second richest man in China for 2006, personally met with President Arroyo last Tuesday during which he announced his decision to invest in the country.

Favila revealed that the investment would go into the BCDA properties in Fort Bonifacio in Taguig, including the 35.5-hectare Jusmag property.
The group is also in the process of exploring sites in Palawan for an investment into the tourism sector.

He pointed out that a team of the Shimao Group came over to the country last February to look at the possibility of making an investment.

"We met with them. We suggested that now that they have seen what the country has to offer, maybe they should go around and ask the private sector for them to have a good feel of what is in store in the Philippines," Favila said.

During Tuesday’s meeting, Xu informed the President and Favila that he sees a huge market in the Philippines in terms of hotels.

In the Association of Southeast Asian Nations where Chinese tourist arrivals registered at around 10 million, the Philippines hosted only 300,000 of the figure so Favila argued that there is still a huge potential to develop the market.

For Palawan, Mr. Xu said that he is looking at San Vicente where he intends to develop an airstrip.

Malacañang assured Mr. Xu that he has the go signal to develop whatever infrastructure he thinks is needed for his investment.

Under the agreement, the BCDA will be a lessor and according to Favila, the government is willing to provide the Shimao Group the longest term possible.

Mr. Xu also asked about the foreign ownership issue in the country to which Favila pointed out that it is one of the proposed amendments as far as the economic provisions in constitution are concerned.

The Shimao Group is one of the biggest real estate developers in China, whose stock is listed in Hong Kong.

Favila noted that the Shimao Group owns three listed companies namely the Shimao Property Hong Kong, Shimao Stock, Shanghai and the Shimao International Off-shore in Hong Kong.

The firm is involved in the development of high-end residential and commercial properties and five-star hotels.

It owns hotels in Australia, Russia, China and other countries in Southeast Asia.

Mr. Xu told Favila that the floor area of its development in the country would be around 10 million square meters.

Meanwhile, the Rock Check Steel Group Co. Ltd. of China has also expressed its intention to invest an initial $200-million for the construction of a ferro nickel plant in Eastern Samar.

The company’s chairman Zhang Xiangqing informed the President of his company’s plan to set up the modern nickel plant at the Hinatuan Mining Corporation (HMC) plant site in Manicani, Guiuan, Eastern Samar.

"I am determined to bring more investments here in the Philippines. Filipinos are very hardworking, kind and good. I am impressed with your very good government, with your great leadership, it’s very democratic and very hospitable," Zhang told the President during his courtesy call in Malacañang Wednesday.

Rockcheck Steel Group, one of China’s top 100 corporations, has a combined steel production of 3.5 million tons with annual sales last year reaching more than 22 billion yuan or $300 billion.

The firm has a total property worth 5.5 billion yuan or $ 700 million and more than 7,000 employees.

Rockcheck Steel has signed an agreement with Fulim Mining and Export Corporation, the exclusive marketing arm of HMC in China, to set up the modern ferro nickel plant at the HMC mining site in Manicani.

Construction will commence on the third quarter of this year and when fully operational, the new plant will employ at least 5,000 local residents.
^^ Does anyone know where in FGBC and where in Quezon City will be the sites of the hotels of the Shimao group?
^^ I wonder if the BCDA/Ayala will also try to offer the Chinese that Northern portion of FBGC since it's quite a sizeable area which needs developing anyway. I do hope so to balance out the development in the area.

The Metro Manila Compilation thread (http://www.skyscrapercity.com/showthread.php?t=302340) in the World Development News Forum is already beyond 500 posts so we need a new one. But before someone starts a new thread, here are some guidelines to take note of as to the usage of the new World Development News Forums as has been discussed within the staff beforehand:

The new thread shall only be a compilation thread of all the projects and proposals in Metro Manila. No construction updates shall be posted (If you scan the previous pages of the compilation thread, you'd see that the construction updates for all sorts of buildings in Metro Manila are all mixed up). Once a building is under construction, a thread may be created in the relevant section and the link to such construction threads shall be posted in the compilation thread. It is the responsibility of the threadstarter to update the first post with the relevant information/links on the latest projects as necessary.

Relevant Sections:

Supertalls http://www.skyscrapercity.com/forumdisplay.php?f=902 (for projects beyond 300m)
Highrises http://www.skyscrapercity.com/forumdisplay.php?f=903 (for projects beyond 100m, but not a Supertall)
General Urban Developments http://www.skyscrapercity.com/forumdisplay.php?f=904 (for projects shorter than 100m)
City/Metro Compilations http://www.skyscrapercity.com/forumdisplay.php?f=905 (active highrise/urban developments occurring in your city )

Any questions? Please don't hesitate asking. Thanks :)

Rockwell listing to fund Lopez Center

Lopez-owned Rockwell Land Corp. is building its icon structure — the 65-floor Lopez Center — in the 15.5-hectare Rockwell Center within the year and is planning to go public to raise funds for the construction.

The firm is spending up to P5 billion for the project, which will sit on a 65,000 square meter lot behind the Power Plant Mall, Assistant Vice-President for Business Development Ninalyn S. Cordero told BusinessWorld.

"The Lopez Center has been in the master plan for so long. It’s going to be the highest building in the country and the plan is to consolidate all Lopez offices in that building," she said.

The building will take three to four years to construct. It is expected to fully operate by 2011.

Lopez Center is targeting the upper market particularly international firms. "It’s all office for now. We are categorizing it as a premier office building and envisioning it to house the main headquarters of multinational companies," Ms. Cordero said.

Outside Rockwell Center, the Lopez-owned property developer is also planning to put up a 20-storey office building on a 60,000 to 75,000 sqm. property in Pasig, which will cater to business-process-outsourcing companies.

The company is setting aside P3 billion for the project.

The company is also targeting residential and retail components outside its flagship project.

Ms. Cordero said proceeds from the planned initial public offering (IPO) would also be used for these expansion projects. "We are talking to various financial advisers for the IPO. The clamor is to do it this year because of the strong market. If we can do it by end of 2007, then we will do so."

The firm is aiming to raise $100 million, from the shares sale, she added.

The company is spending P2 to P3 billion for capital expenditures this year to partly fund various projects.

Rockwell on Wednesday inaugurated a new information center. It also broke ground for residential condominium complex One Rockwell.

In May 2002, it started construction of a condominium project, The Manansala, which had 98% market take-up as of December 2005 at around which time the project was completed.

In January 2004, Rockwell launched the Joya, a new residential tower on the east side of Rockwell Center.

The project broke ground on Aug. 27, 2004, with 82% market take-up as of end-2005. Total estimated cost to complete the project amounted to P4.6 billion. Joya topped off its South Tower five months ahead of schedule last Wednesday. Rockwell expects to complete the Joya by 2008.

Rockwell the property development arm of the Lopez group, has posted around P10 billion in revenues from selling out its Joya residential towers and increasing sales of its One Rockwell development in its recently concluded roadshow to the United States. — Bernardette S. Sto. Domingo

http://www.bworldonline.com/BW032307/content.php?id=041

^^ Ang ganda ng simula nitong taon na to! May construction fever to reach the sky. Hope lahat ng mga proposed projects may official height na para may maka gawa naman ng diagram. Excited na ako sa race to the tallest! :)

When is Rockwell planning on going public? This June, right? Maybe this project will see a groundbreaking in the second half of this year!

so skycity is the only one left. Is it even in the pipeline?

^ interesting. so what is this Skycity and where do they plan to build it?

Anyway, i'm very happy and excited to hear these supertall projects are finally being realized. Lopez Center, the Century City one, Pagcor City Tower.. Manila has improved dramatically in the past three years alone. It really pays to have a steady (long) uninterrupted administration. Props to GMA and her brilliant economic policies!

do a search there is a thread about it.
i agree with you, it also helps that bayani was appointed at mmda.

Outstanding news on the Rockwell Tower. Hope they bring out the render soon.

^^ Rockwell intends to build the tallest building in the country but there will be pressure on them with Century City's 73 story building nearby. Based on the number of floors, Century City may have the advantage but as we all know, the number of floors is not an accurate basis on the actual height of a building. Still, it's good that there's competition. Bring 'em on!

Many good news abound. :applause:

^^ Rockwell intends to build the tallest building in the country but there will be pressure on them with Century City's 73 story building nearby. Based on the number of floors, Century City may have the advantage but as we all know, the number of floors is not an accurate basis on the actual height of a building. Still, it's good that there's competition. Bring 'em on!

Century City's 73 storey building is no pressure for Rockwell Land at all and its no competition. Lopez Tower not only has 65 office floors, it also has some architectural features that increases its height. Plus Lopez Tower has been in the masterplan since inception. Its about time they build them because the market conditions are right. Frankly, the only competitor for Lopez Tower in terms of height is Skycity, but that is still held up in the courts with NO new news. They too plan an IPO to fund the project.

slowly but surely, more projects will be resurrected... how bout the SM-KL?

SM-KS;)

Anyways, I'm glad to hear all these good news. The property market in Metro Manila is shaping up again.:)

What about the proposed San Miguel HQ high rise? Any concrete plans on this tower? Since this is an office tower, there's not much marketing going on.