Property News

PLDT unveils P180-B spending plan

Industry giant PLDT Inc. is flexing its massive financial muscle, revealing for the first time a multi-year capital spending plan as the Duterte administration hopes to select a new telco challenger in the next few months. PLDT, in a statement over the weekend, announced an unprecedented three-year spending budget of P180 billion from 2018 to […]

Pernia: Infrastructure program to go ahead even with planned federalism shift
Ernesto Pernia

The Duterte administration’s ambitious infrastructure program will go full speed ahead and not even the planned shift to federalism would be a roadblock, the country’s chief economist said Wednesday. Asked if he sees any impact on the rollout of big-ticket infrastructure projects spanning across provinces and regions, which may be broken down into autonomous states […]

Lost perks under TRAIN force regional HQs to shelve Philippine entry

MANILA, Philippines — About five multinational companies are shelving plans to set up regional headquarters in the country due to concerns on the removal of their special tax rate. The Philippine Association of Multinational Companies Regional Headquarters Inc. (PAMURI) said four to five regional operating headquarters (ROHQs) have “refused to enter the Philippine market due […]

Lucio Tan’s Eton ventures into hotels
Eton Properties

MANILA, Philippines — Taipan Lucio Tan’s Eton Properties Philippines Inc. will venture into the hotel business. In a recent interview, Eton Properties chief operating officer Josefino Lucas said the company would launch two hotel projects. One will be in Pasay City near the Entertainment City, while the other will be in Quezon City within the […]

Gov’t gives 3rd telco wannabes some wiggle room
Now Corporation

The Duterte administration will extend its March 2018 target to name a new telco industry player as potential bidders balked at the tight deadline during the first of a series of public consultations on Wednesday. Private sector bidders, including listed NOW Corp. and privately-held satellite broadband operator G. Telecoms Inc., expressed worries about the timing, […]

Ayala Land nets P17.8B in Jan-Sep
Ayala Land

AYALA Land, Inc. (ALI) said net income for the first nine months of the year jumped 18 percent to P17.8 billion backed by the strong performance of its business units. Consolidated revenues amounted to P98.9 billion, an increase of 16 percent from last year, driven mostly by brisk real estate sales. Exceeding target levels, real […]

2 SSS execs in stock trading scandal resign
Amado Valdez

MANILA, Philippines — Two top executives of the Social Security System (SSS) have resigned while under investigation for their alleged involvement in a stock trading controversy. In an interview with the ABS-CBN News Channel, Social Security Commission (SSC) chairman Amado Valdez said equities investment division chief Reginald Candelaria and chief actuary George Ongkeko Jr. have tendered […]

Office locators prove Makati as enduring business district
Brighthall Realty & Development Corporation

Makati is widely regarded as the country’sfinancial district and Metro Manila’s primary central business district. In fact, its land values soar up to P1 million per sqm. going by the latest transactions. Its rents are also almost twice that of other business centers. “Makati will remain a prime business area for many years to come,” […]

SMDC eyes P6b in sales from Las Piñas project

SM Development Corp., the residential unit of property developer SM Prime Holdings Inc., said Thursday it expects to generate P6 billion in sales from the four-tower residential condominium project along Alabang-Zapote Road in Las Piñas City. SMDC assistant vice president for project development Therese Sonsing-Fernando said in a news briefing the four-tower residential project called […]

Ayala expands coworking space network, opens BGC unit
BGC Clock In

A new coworking space under Ayala Land Inc.’s “Clock In” brand has opened in Bonifacio High Street, offering flexible office address to freelancers, start-up entrepreneurs and corporate teams who do not want to be tied to long-term leasing contracts. This is the third of Clock In coworking space to rise while three more are expected […]