Property News

MPIC hikes offer to P20 B to take over MRT-3

MANILA, Philippines — Metro Pacific Investments Corp. (MPIC) has increased its proposed amount of investment to rehabilitate as well as take over the operations and maintenance of the Metro Rail Transit Line 3 (MRT-3), from an initial P12 billion to P20 billion. “The details of the proposal have changed. The required amount of investment is […]

PH retail scene remains upb
SM Mall of Asia

The apparent shift in the global retail landscape may, after all, work out in the country’s favor. While many retail stores in the United States and elsewhere in the world had been shuttered over the last few years, rendered obsolete by the consumer’s growing preference for online shopping among other factors, the Philippines meanwhile has […]

Ongpin unveils luxury Benguet real estate development
Ongpin Benget

MANILA, Philippines — Roberto V. Ongpin, the tycoon behind some of the country’s most luxurious playgrounds such as the members only Balesin Island Club and City Club, has just unveiled his latest project, the Alphaland Baguio Mountain Lodges, and is already enjoying brisk demand from some of the country’s elites and well-heeled crowd. Alphaland, his […]

Dominguez wants REIT investments to be used solely in PH
Carlos Dominguez

MANILA – Finance Secretary Carlos Dominguez III is amenable to any amendment of the Real Estate Investment Trust (REIT) if there is an assurance that money allocated for this purpose will be used for domestic activities. The REIT Act lapsed into law in 2009 but has not really moved forward on issues like minimum public […]

Megaworld set to open 14th mall
Southwoods Mall

Megaworld on Thursday said Southwoods Mall, located inside its integrated township Southwoods City in Biñan, Laguna and Carmona, Cavite, will open its doors in October. The property giant’s 14th mall offers 58,000 square meters (sq.m.) of retail, dining and entertainment facilities. “As a trademark, we also want to infuse a bit of nightlife in the mall, […]

DoubleDragon to spend over P4 billion for industrial hubs, hotels

MANILA, Philippines – DoubleDragon Properties Corporation plans to spend P4.8 billion to develop 100,000 square meters (sqm) of industrial leasing hubs and 5,000 hotel rooms across the Philippines by 2020. DoubleDragon president Edgar “Injap” Sia II said on the sidelines of the company’s annual stockholders’ meeting that funding for these ventures will primarily come from the planned […]

Filinvest’s STUDIO 7 celebrates first concrete pouring
Filinvest Studio 7

Filinvest celebrates another milestone with the first concrete pouring of its latest vertical, integrated, and mixed-use development, Studio 7. With its young and social vibe, Studio 7 is poised to be every independent and urban-dwelling millennial’s ideal abode. This mixed-use development is envisioned to typify the live-work-play lifestyle by seamlessly integrating office spaces, residential towers […]

Lucio Tan, Henry Sy’s hometown in China eye more investments in PH
Investments in PH

FUZHOU, China – The Chinese province that is the hometown of some 1.68 million Filipino-Chinese eyes more investments to the Philippines amid improvement of bilateral ties between the two countries. The Fujian provincial government said its historical ties and geographic proximity to the Philippines makes it an attractive market for Chinese investments in agriculture, mining, […]

Rockwell, Mitsui Fudosan team up for QC project
Rockwell and Mitsui Fudosan

In a statement released over the weekend, the Lopez-led property developer said it signed a joint venture agreement with Mitsui Fudosan for residential portion of The Arton by Rockwell. The deal would give the Japanese company a 20% equity stake in the three-tower high-end residential development that will rise along Katipunan Avenue in Quezon City. […]

Low interest loans for socialized housing
Housing Loans

The country’s largest organization of real estate and housing industry players has urged anew for the passage of a bill that will allow all income-earning Filipinos to be entitled to low-interest, long-term housing loans. More specifically, the Chamber of Real Estate and Builders’ Associations Inc. (Creba) wanted to amend Republic Act No. 7835, also known […]