Property News

Ayala Land to spend P16B to build new malls in 3 years
Ayala Center Cebu

MANILA — Real estate giant Ayala Land Inc. (ALI) plans to spend P16 billion to build new malls over the next three years as it continues to build up its recurring income business, riding the country’s robust economic growth. “We are expanding aggressively… We will be tripling our size in three years. By 2020, we […]

Bloomberry Exec. says Philippines may surpass Singapore in casino gaming
Bloomberry Resorts Corporation

An improvement in tourism numbers as well as infrastructure within the Philippines may give the country an opportunity to see their casino sector outperform Singapore in the near future. Speaking with CNBC late last week, Bloomberry Resorts Corp. Enrique Razon was positive in his comments about the Philippines and how he feels the country may […]

RLC eyes more franchising deals for Go Hotels
Go Hotels Roxaco-Vanguard Hotel Corp

THE PARTNERSHIP of Roxaco Land Corp. and Singapore’s Vanguard Hotels Pte. Ltd. has opened its second budget hotel under a homegrown brand of Robinsons Land Corp., which looks at signing more franchising agreements to further expand its presence. Robinsons Land owns and operates the country’s first value hotel with the launch of Gohotels.ph. Roxaco-Vanguard Hotel […]

PHL, Israel eye more agriculture cooperation, larger investments in BPO sector
BPO

Israel has vowed its continuing support for the development of the country’s farm sector, and proposed to expand its current exchange program for Filipino agricultural students who want to learn from Tel Aviv’s expertise and advanced technologies in agriculture. In a recent meeting with Finance Secretary Carlos G. Dominguez III, Israel Ambassador to Manila Ephraim […]

China keen on putting up industrial park in PH
China Industrial Park

China is considering building an industrial park in the Philippines, promising to boost the local manufacturing sector and create more jobs as bilateral ties improve, according to Chinese Ambassador to the Philippines Zhao Jianhua. “In the Asean, we have already built eight Industrial parks but we haven’t built any in the Philippines yet,” the ambassador […]

BPO Firms Remain Philippines’ Top Employer
BPO IT Sector

The business process outsourcing (BPO) sector remains the top-employment sector in the Philippines, accounting for 38% of the country’s total workforce, according to data released by JobStreet.com. The study further revealed that the high salary in the country’s IT sector will continue to encourage and create a stronger industry workforce. Professionals in the IT sector […]

Phl to survive external shocks – IMF
International Monetary Fund

MANILA, Philippines –  Multilateral lender International Monetary Fund (IMF) is confident the Philippine economy will continue to perform strongly as the country is expected to remain resilient despite external shocks this year. An IMF mission led by Luis Breuer, which visited Manila from Feb. 20 to 24, said the country’s gross domestic product (GDP) growth […]

The BPO sector moving forward
BPO Sector Donald Trump

The election of Donald Trump as US president last November brought mixed reaction in terms of its impact on the Philippine economy and the business sector. Some analysts and businessmen feared that with his protectionist “America first” statements during the campaign, a Trump presidency would slow down, or even cause a withdrawal of investments from […]

Filinvest withdraws SRP lot contract with Cebu City govt
Cebu City Mayor Tomas Osmeña with Filinvest senior vice president for VisMin Tristan Las Marias

Filinvest Land, Inc. (FLI) announced on Monday morning their withdrawal from purchasing the 19.2 hectare lot at the South Road Properties (SRP). FLI senior vice president for VisMin Tristan Las Marias made the announcement together with Cebu City Mayor Tomas Osmeña during a press conference at the Mayor’s Office. According to Las Marias, the city […]

Middle-income condo launches to slow this year – Prime PH
Condominium

A slowdown in middle-income condo launches is happening this year, lessening the risk of a property bubble, real estate services firm Prime Philippines said. In an email to The Manila Times, Prime Philippines Managing Director Jet Yu noted condominium development projects in Metro Manila will decelerate this year. “There’s no danger of property bubble bursting,” […]