Property News

By Ian Laqui | The Philippine Star May 15, 2024 MANILA, Philippines — Personal remittances from overseas Filipino workers (OFWs) grew by 2.6%, amounting to $3.05 billion (P175,609,850,000.00) in March 2024 from $2.97 billion (P171,003,690,000.00) in the same month...

By Justine Irish D. Tabile | BusinessWorld May 12, 2024 THE Bases Conversion and Development Authority (BCDA) said the Market! Market! site in Bonifacio Global City (BGC) is set for disposal and redevelopment once its lease ends in 2027. “The Market! Market! land will...

By Keisha Ta-Asan | The Philippine Star May 17, 2024 MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) hit the pause button for the fifth straight policy meeting as it kept the benchmark interest rates steady yesterday, but it may start cutting borrowing...

By Malaya Business Insight May 17, 2024 San Miguel Corp. recorded profit of P8.89 billion in the first quarter, down 49.89 percent from P17.74 billion in the same period last year. Revenues grew 13 percent to P392.71 billion from P346.72 billion, with operations in...

By Ian Nicolas P. Cigaral | Philippine Daily Inquirer May 17, 2024 MANILA, Philippines — Committed foreign direct investments (FDI) in the country posted a sharp decline in the first quarter, which an analyst said raised concerns about the health of the investment...

By Vivienne Angeles | Daily Tribune May 17, 2024 Leading property company DoubleDragon Properties Corporation (DD) will soon leave more footprints in the Philippines, when it opens its 50th CityMall in Antique province in the Western Visayas region. The opening of the...

By Filane Mikee Cervantes | Philippine News Agency May 17, 2024 MANILA – President Ferdinand R. Marcos Jr. on Friday said major infrastructure projects in the Ilocos Region are underway not only to boost tourism, but also promote countryside development. During the...

By Herbie Gomez | Rappler May 16, 2024 CAGAYAN DE ORO, Philippines – President Ferdinand Marcos Jr. announced on Thursday, May 16, plans to upgrade five airports in Northern Mindanao as part of the government’s efforts to establish the region as the leading...

By Beatriz Marie D. Cruz | BusinessWorld May 16, 2024 THE JAPAN International Cooperation Agency (JICA) is looking to fund more railway infrastructure and social development initiatives in the Philippines this year. “For this year, actually we have many, many pipeline...

By Elijah Felice Rosales | The Philippine Star May 14, 2024 MANILA, Philippines — The government plans to invest as much as P10 billion to put up a second runway for the Clark International Airport to entice airlines, both passenger and cargo, to locate in the...

By Meg J. Adonis | Philippine Daily Inquirer May 16, 2024 MANILA, Philippines — The local bourse slipped below 6,600 on Wednesday as investors anxiously awaited the latest interest rate decision of the Bangko Sentral ng Pilipinas’ (BSP), which is expected to mirror...

By Ashley Erika O. Jose, Reporter A REAL ESTATE investment trust (REIT) listing for the data center arm of PLDT Inc. is expected to draw interest from investors, according to analysts. PLDT is in talks to sell up to 49% of its data center business to Japan’s Nippon...

MAYNILAD Water Services, Inc. said the Securities and Exchange Commission (SEC) has approved its proposed blue bond issuance. The SEC confirmed Maynilad’s proposal to issue Series A Blue Bonds due 2029 and Series B Blue Bonds due 2034, the company said in a statement...

By Anna Leah Gonzales | Philippine News Agency May 15, 2024 MANILA – Local shares declined on Wednesday ahead of the Bangko Sentral ng Pilipinas' (BSP) Monetary Board meeting, while the peso closed slightly higher against the dollar. The Philippine Stock Exchange...

LISTED conglomerate GT Capital Holdings, Inc. saw its first-quarter (q1) attributable net income grow by 7.1% to P7.11 billion, led by its banking, automotive, and insurance businesses. “This was driven by the record performance of Metropolitan Bank & Trust Co....

MANILA Water Co., Inc. announced on Thursday its subsidiary’s divestment from Bulakan Water Co., Inc. (BWCI) and Obando Water Co., Inc. (OWCI) for a total of P1.02 billion to fund other initiatives. Filipinas Water Holdings Corp. (FWHC) has signed a share purchase...

By A.M.C. Sy with Reuters | BusinessWorld May 15, 2024 THE GOVERNMENT made a partial award of the Treasury bonds (T-bonds) it offered on Tuesday as rates rose on expectations that inflation in the world’s largest economy remained sticky, which could push back the US...

THE National Grid Corp. of the Philippines (NGCP) said the completion of the Tuy-Dasmariñas 230/500-kilovolt (kV) transmission line and substation project may be delayed after a regional court ordered relocation of two tower sites. “The tower parts for the current...

By Myla Iglesias | Malaya Business Insight May 16, 2024 Philippine Airlines (PAL) renewed its partnership with OpenAirlines, the leading provider of fuel management solutions, to further increase fuel savings. Under the partnership, PAL becomes the first Asian airline...

By Richmond Mercurio | The Philippine Star May 15, 2024 MANILA, Philippines — Citicore Renewable Energy Corp. (CREC) is pushing through with its planned P8-billion initial public offering (IPO) this quarter. Based on its latest preliminary prospectus, CREC targets to...

By James A. Loyola | Manila Bulletin May 14, 2024 SP New Energy Corporation (SPNEC), a member of the Meralco Group of companies, has turned profitable in the first quarter of 2024 with a net income of P156 million and an attributable net income of P47.5 million from a...

By Niña Myka Pauline Arceo | The Manila Times May 16, 2024 OVERSEAS Filipino worker (OFW) remittances rebounded to $3.05 trillion in March from nine-month low, Bangko Sentral ng Pilipinas (BSP) data showed on Wednesday. Overall, or personal, remittances were 2.6...

By Alden M. Monzon | Philippine Daily Inquirer May 14, 2024 MANILA, Philippines — German companies operating in the Philippines have turned less optimistic about their prospects in the country, citing frequent policy changes and high energy prices as among the risk...

By Niña Myka Pauline Arceo | The Manila Times May 13, 2024 NET foreign direct investments (FDI) surged in February compared to a year earlier, the Bangko Sentral ng Pilipinas (BSP) reported late Friday. At $1.4 billion, the net inflow was 29.3 percent higher than the...

By Jenniffer B. Austria | Manila Standard May 13, 2024 Property developer Megaworld Corp. said Monday it plans to expand its leasing portfolio to 3 million square meters (sq. m.) of gross leasable area (GLA) for both office buildings and malls by 2030. This is 52...

By Richmond Mercurio | The Philippine Star May 16, 2024 MANILA, Philippines — AyalaLand Logistics Holdings Corp. (ALLHC), the industrial parks and real estate logistics arm of Ayala Land Inc., has set its sights on becoming a formidable player in the cold storage...

By Aubrey Rose A. Inosante | BusinessWorld May 13, 2024 FEDERAL LAND NRE Global, Inc. (FNG) said Sora Tower, the first residential tower of The Observatory township in Mandaluyong, is expected to be turned over by 2030. “The first residential tower set to rise in the...

FILINVEST Development Corp. (FDC) saw a 36% rise in its first-quarter (q1) attributable net income, reaching P2.9 billion from last year’s P2.2 billion, driven by gains in the banking, power, and property sectors. First-quarter total revenue and other income improved...

PACIFICLIGHT Power Pte. Ltd. (PLP), a subsidiary of Meralco PowerGen Corp. (MGen), will build two liquefied natural gas (LNG) generating units in Singapore, aiming to supply 100 megawatts (MW) of electricity. This comes after the company was awarded by the Energy...

SM Prime Holdings, Inc. said it will open SM City Caloocan on May 17, the first of four new mall openings planned for this year. SM City Caloocan has over 94,000 square meters of gross floor area and three levels of mixed-use commercial space consisting of dining,...