Robinsons Land to start 3 Cebu projects this year

Robinson’s Land Corp. will break ground on at least three new projects in Cebu this year.

These include the integrated project in downtown Cebu City, a residential condominium project in Mactan and Lahug, and the   introduction of the firm’s hotel brand.

Frederick D. Go, president and chief executive officer of Robinson’s Land Corp., said last week that the firm set 2011 as the year to start its long-planned integrated project in General Maxilom Avenue in Cebu City.

Robinsons Land bought the lot from the Cebu City government.

“The plan is already finished and it will have a hotel, a shopping mall and residential condominium component to the five-hectare property,” Go said.

He said the firm would also introduce its essential services hotel brand – Go Hotel — in the project.

“We call it essential services because we only provide what’s essential and needed by our guests, it’s like Cebu Pacific, the earlier you book the cheaper the rate is,” he said.

In Mactan, Go also cited the planned breaking ground of the hotel component of Robinsons Land’s Amisa Property, which would carry the firm’s other brand Summit Hotels.

“Our Amisa property in Mactan has six condominium buildings and a hotel component to it. The Hotel will be named Summit Resorts which is a full service hotel for the upscale resort hotel,” he said.

Go said in line with the firm’s thrust to introduce its new hotel brands, it’s also in the process of reintroducing Cebu Midtown Hotel with a new name and newly renovated rooms and amenities.

“The name is now Summit Circle Hotel which is under our Summit City Hotels brand which is our brand of full service business hotel. We have already finished renovating one-third of about more than 200 rooms in the hotel and expects everything to be finished by year end,” he said.

Go said that this is the second hotel under their Summit Hotel Brands in the country with the first one opened in Tagaytay called Summit Ridge with 108 rooms now.

The firm plans to construct this year another condominium project in Lahug, Cebu City near the University of the Philippines Visayas Cebu campus, which they plan to call Azalea Place.

Go said that the plans and projects for Cebu would show the firm’s strong confidence in the Cebu market.

“I think the demand remains very strong especially for well located and well designed projects developed by refutable companies like Robinsons Land Corp.,” Go said.

Go declined to give specific investment amount for all their projects saying they have not yet fully discussed on the investments yet.

“We have the plans already and we’ll break ground this year and some like the Maxilom development is a five-year development plans so it’s really hard to tell right now,” Go said.

At present, Robinsons Land Corp. has four ongoing projects in Cebu which includes Aspen Heights in Liloan, Cebu, Amisa and Blue Coast Residences in Mactan, and Robinson’s Cybergate and Cebu Midtown Hotel.

By Aileen Garcia-Yap
Cebu Daily News

====

AmiSa

Everyday is a Holiday

Beach Resort Condominium at Punta Engano Mactan

Units Available include RFO and Preselling

Azalea Place

Life's Simple Joys are Always Within Reach

Convenient Business and Leisure Living at the Heart of Cebu

Currently Preselling!

Quality Projects of One of the Pioneering Developers in the Country

Robinsons Land Corporation

Flexible payment terms available!

For inquiries please call 09065549505 or 09229452718 and look for Ray.

You can also email at raymund.baroy@yahoo.com

=========================

Best Regards, 

Raymund B. Baroy

Account Manager

Robinsons Land Corp. - Cebu Sales Force

Visit Us here: Robinsons Land Premier Properties 

Call/SMS:

Local: 09065549505 / 09229452718

International :  +639065549505 / +639229452718      

Email : raymund.baroy@yahoo.com

AmiSa: AmiSa Private Residences

Azalea Place: Azalea Place

Property boom transforming Philippine skylines

Positive outlook on the Philippine economy has seen a tremendous rise on vertical development. Major developers are keen on placing residential and office buildings not only in Manila, but also in key provinces. 

*****

MANILA, Philippines—As a Philippine property boom gathers pace, even Paris Hilton, Donald Trump and high-fashion house Versace are getting a piece of the action.

The good times are into their fourth year, fueled by steady economic growth, Western firms offshoring jobs to the Philippines, the buying power of millions of Filipinos working abroad and low interest rates.

In Manila, formerly sleepy pockets such as the Fort army base and the rundown Eastwood industrial zone have become chic, new business districts, catering mainly for the fast-growing outsourcing sector.

Across the country, more than 850,000 square meters (9.1 million square feet) of office space and 14,000 residential units will enter the market this year, property consultants CBRE Philippines said in a report.

It said many of the residential units catered for a growing middle class on the fringes of Manila and other urban centers.

The building boom has also spread to hotels, shopping malls and casinos, triggering hopes of a long-anticipated take-off of the underdeveloped tourism industry.

Three of the world’s biggest gaming industry leaders are building a $4-billion, 100-hectare (247-acre) Entertainment City complex of casinos on Manila Bay. The first of the casinos are set to open early next year.

The economy grew 6.4 percent in the first quarter, the stock market has surged 20 percent this year to hit all-time highs, and the country’s credit rating has been bumped up to just a step below investment grade.

The central bank’s benchmark interest rates are also at historic lows – 4.0 percent for the benchmark borrowing rate – ensuring large piles of cheap cash for property development.

Aside from the macro-economic picture, real estate analysts point to the outsourcing phenomenon as one of the key drivers of the property boom.

From virtually nothing a decade ago, outsourcing now employs more than 600,000 people and is worth $11 billion annually, according to the main industry association which is forecasting 15 percent growth in the years ahead.

Many of the skyscrapers are being built to cater for the outsourcing workforce, which performs a myriad of tasks from call center duties to designing architectural plans for foreign firms.

Meanwhile, roughly nine million Filipinos who work overseas are sending large chunks of the $22 billion they earn – equal to 10 percent of the nation’s gross domestic product – back home, often investing in real estate.

The frenetic building pace has some quarters anxious over a potential property bubble, with the global economic woes adding to concerns.

But Rick Santos, CBRE Philippines chief executive, remains bullish, in large part because of the expected continued growth in the outsourcing sector.

“As economies in the West tighten, global companies will see it in their interest to outsource their non-core functions to save on costs,” Santos told an industry briefing recently.

FULL READ ON PHIL DAILY INQUIRER

====

AmiSa

Everyday is a Holiday

Beach Resort Condominium at Punta Engano Mactan

Units Available include RFO and Preselling

Azalea Place

Life's Simple Joys are Always Within Reach

Convenient Business and Leisure Living at the Heart of Cebu

Currently Preselling!

Quality Projects of One of the Pioneering Developers in the Country

Robinsons Land Corporation

Flexible payment terms available!

For inquiries please call 09065549505 or 09229452718 and look for Ray.

You can also email at raymund.baroy@yahoo.com

=========================

Best Regards, 

Raymund B. Baroy

Account Manager

Robinsons Land Corp. - Cebu Sales Force

Visit Us here: Robinsons Land Premier Properties 

Call/SMS:

Local: 09065549505 / 09229452718

International :  +639065549505 / +639229452718      

Email : raymund.baroy@yahoo.com

AmiSa: AmiSa Private Residences

Azalea Place: Azalea Place

Property boom transforming Philippine skylines

Positive outlook on the Philippine economy has seen a tremendous rise on vertical development. Major developers are keen on placing residential and office buildings not only in Manila, but also in key provinces. 

*****

MANILA, Philippines—As a Philippine property boom gathers pace, even Paris Hilton, Donald Trump and high-fashion house Versace are getting a piece of the action.

The good times are into their fourth year, fueled by steady economic growth, Western firms offshoring jobs to the Philippines, the buying power of millions of Filipinos working abroad and low interest rates.

In Manila, formerly sleepy pockets such as the Fort army base and the rundown Eastwood industrial zone have become chic, new business districts, catering mainly for the fast-growing outsourcing sector.

Across the country, more than 850,000 square meters (9.1 million square feet) of office space and 14,000 residential units will enter the market this year, property consultants CBRE Philippines said in a report.

It said many of the residential units catered for a growing middle class on the fringes of Manila and other urban centers.

The building boom has also spread to hotels, shopping malls and casinos, triggering hopes of a long-anticipated take-off of the underdeveloped tourism industry.

Three of the world’s biggest gaming industry leaders are building a $4-billion, 100-hectare (247-acre) Entertainment City complex of casinos on Manila Bay. The first of the casinos are set to open early next year.

The economy grew 6.4 percent in the first quarter, the stock market has surged 20 percent this year to hit all-time highs, and the country’s credit rating has been bumped up to just a step below investment grade.

The central bank’s benchmark interest rates are also at historic lows – 4.0 percent for the benchmark borrowing rate – ensuring large piles of cheap cash for property development.

Aside from the macro-economic picture, real estate analysts point to the outsourcing phenomenon as one of the key drivers of the property boom.

From virtually nothing a decade ago, outsourcing now employs more than 600,000 people and is worth $11 billion annually, according to the main industry association which is forecasting 15 percent growth in the years ahead.

Many of the skyscrapers are being built to cater for the outsourcing workforce, which performs a myriad of tasks from call center duties to designing architectural plans for foreign firms.

Meanwhile, roughly nine million Filipinos who work overseas are sending large chunks of the $22 billion they earn – equal to 10 percent of the nation’s gross domestic product – back home, often investing in real estate.

The frenetic building pace has some quarters anxious over a potential property bubble, with the global economic woes adding to concerns.

But Rick Santos, CBRE Philippines chief executive, remains bullish, in large part because of the expected continued growth in the outsourcing sector.

“As economies in the West tighten, global companies will see it in their interest to outsource their non-core functions to save on costs,” Santos told an industry briefing recently.

FULL READ ON PHIL DAILY INQUIRER

====

AmiSa

Everyday is a Holiday

Beach Resort Condominium at Punta Engano Mactan

Units Available include RFO and Preselling

Azalea Place

Life's Simple Joys are Always Within Reach

Convenient Business and Leisure Living at the Heart of Cebu

Currently Preselling!

Quality Projects of One of the Pioneering Developers in the Country

Robinsons Land Corporation

Flexible payment terms available!

For inquiries please call 09065549505 or 09229452718 and look for Ray.

You can also email at raymund.baroy@yahoo.com

=========================

Best Regards, 

Raymund B. Baroy

Account Manager

Robinsons Land Corp. - Cebu Sales Force

Visit Us here: Robinsons Land Premier Properties 

Call/SMS:

Local: 09065549505 / 09229452718

International :  +639065549505 / +639229452718      

Email : raymund.baroy@yahoo.com

AmiSa: AmiSa Private Residences

Azalea Place: Azalea Place

Property expert urges public to keep watch on interest rates

Real estate market analyst says that the Philippine real estate is in a healthy state and that a bubble is not imminent. Due to healthy competition, low interest rates, affordable housing packages, the industry continues to resemble a stable balance of law and supply. Still, the experts expect both buyers and developers alike to look into the 1997 Asian financial crisis and learn from the lessons it has offered. 

*****

Analysts may be one in declaring that the Philippines is safe from a real estate bubble just yet. One expert, however, did urge the public to keep a close eye on reliable indicators. Enrique Soriano, Ateneo program director for real estate and senior adviser for Wong+Bernstein Business Advisory, advised that the country shouldn’t let its guard down.

Victor Asuncion, CBRE executive director for global research and consultancy, assured that there would be no asset price bubble in the Philippine real estate industry, as most projects being built in Metro Manila and other urban centers cater to end-users and not speculating buyers, at least in the office and residential sector.

Nevertheless, Julius Guevara, associate director, valuation and advisory services and head of consultancy and research of Colliers International told Inquirer Property that because of its cyclical nature and the long construction period before units could be delivered to their purchasers, the real estate market would still be susceptible to bubble effects.

Prospect of a bubble

Guevara said: “Hence, the prospect of a bubble is always present. Bubbles typically emerge due to irrational price increases caused by speculative investment. They can also occur when supply cannot address a sudden spurt in demand, and since construction can take years, the supply may be introduced at a time when the demand has already been addressed. Currently, we are not experiencing a price bubble, since demand for real estate has been driven mostly by end users and developer competition has kept pricing relatively stable.”

According to him, Colliers’ International’s observations during the first quarter of 2012 showed that reservation sales grew healthily compared to the same period last year.

“So, we see no signs of decline in demand as of yet. Moreover, our developer clients have learned greatly from the lessons of the 1997 Asian crisis, and they continuously monitor the state of the market, assessing whether it is time to step off the gas and slow down.”

Dark cloud

Guevara, however, warned: “One dark cloud that we see in the horizon is the eventuality of an increase in interest rates. Currently, sales are being driven by local demand supported by easily affordable in-house payment schemes being offered by developers as well as low-interest housing loans from banks. They are able to provide low amortization packages because of a low interest rate environment.

“Benchmarks such as US Treasury rates and the Libor rate are at historically low levels, and Philippine lending rates have also followed suit. Given that they are at historical lows, it should be expected that they will one day go up; the question is when. Once the global economy improves and inflation needs to be checked, these rates definitely will rise, thereby affecting the ability of these developers and banks to offer affordable payment options,” he added.

Rate adjustments

Soriano agreed, but said: “Rate adjustments are not necessarily dark clouds. As a matter of fact, it can be favorable in harmonizing the sector. Increases in rates are actually a good remedy to balance the demand and supply.”

He added that an adjustment in interest and mortgage rates is inevitable. Interest rate has an enormous effect on property values because of the direct correlation on the price of borrowing money.

Interest rates may not necessarily dampen demand for real estate purchases, said Claro dG. Cordero Jr., Jones Lang LaSalle Leechiu’s head of research, consulting and valuation in the Philippines.

Competition among developers

“The decline in interest rates has certainly helped the demand for housing to increase but while this is true, an increase in interest rates in the near future may not necessarily dampen the demand for real estate purchases. One of the reasons interest rates went down (aside from structural changes initiated by the Bangko Sentral ng Pilipinas) is the competition among the developers. The sheer volume of new residential projects scheduled to be completed in the next five years is likely to influence interest rates to continue to trade at low levels.”

Cordero added that “when interest rates eventually increase, we can expect real estate prices to go down (or get corrected). Hence, while interest rates may eventually increase (and we can expect the payment schemes being offered by banks to tighten), the additional incentive for buyers is the relatively lower housing prices.”

CBRE Philippines said: “While interest rates, indeed, reached considerably low levels, the strong peso as well as continued positive developments in the market contribute highly in stabilizing the prevailing rates. Government spending is aptly covered by local and foreign credit, while confidence levels from the business sector remained high, thus mitigating risk considerations. Money supply is sufficient vis-à-vis the requirements for current developments and impending projects, hence increase at this point is not likely to happen within the immediate future.”

By: Tessa R. Salazar, Philippine Daily Inquirer

====

AmiSa

Everyday is a Holiday

Beach Resort Condominium at Punta Engano Mactan

Units Available include RFO and Preselling

Azalea Place

Life's Simple Joys are Always Within Reach

Convenient Business and Leisure Living at the Heart of Cebu

Currently Preselling!

Quality Projects of One of the Pioneering Developers in the Country

Robinsons Land Corporation

Flexible payment terms available!

For inquiries please call 09065549505 or 09229452718 and look for Ray.

You can also email at raymund.baroy@yahoo.com

=========================

Best Regards, 

Raymund B. Baroy

Account Manager

Robinsons Land Corp. - Cebu Sales Force

Visit Us here: Robinsons Land Premier Properties 

Call/SMS:

Local: 09065549505 / 09229452718

International :  +639065549505 / +639229452718      

Email : raymund.baroy@yahoo.com

AmiSa: AmiSa Private Residences

Azalea Place: Azalea Place