Property News

PALAWAN — Spanish infrastructure company Acciona S.A., the Ayala Foundation, and the Spanish Agency for International Development Cooperation (AECID) are set to install new 1,200 solar systems in Brgy. Teneguiban, an off-grid coastal village in El Nido, Palawan. The...

By The Manila Times November 14, 2023 MPCALA Holdings Inc. (MHI), the company behind the Cavite-Laguna Expressway (CALAx), recently announced the long-awaited inauguration of the Silang (Aguinaldo) Interchange. This 3.9-kilometer, 2x2 lane expressway segment is poised...

By Jekki Pascual | ABS-CBN News November 14, 2023 MANILA -- Transportation Secretary Jaime Bautista said he does not expect more groups to join the bidding for the rehabilitation of the Ninoy Aquino International Airport, even if the deadline is still more than a...

By Gabriel L. Cardinoza | The Manila Times November 14, 2023 SAN FERNANDO CITY, La Union: The Department of Public Works and Highways (DPWH) is now accepting motions to challenge the unsolicited proposal submitted by the San Miguel Holdings Corp. (SMHC) for the...

By Niña Myka Pauline Arceo | The Manila Times November 17, 2032 KEY interest rates went unchanged on Thursday as expected but monetary authorities said further tightening could be ordered to anchor inflation expectations. Following an unscheduled 25-basis-point (bps)...

By Keisha B. Ta-asan | BusinessWorld November 14, 2023 THE BANGKO SENTRAL ng Pilipinas (BSP) has terminated its overdraft credit line (OCL) for banks that directly participate in clearing operations as its use is now covered by a newly implemented facility. The OCL is...

By Ronnel W. Domingo | Philippine Daily Inquirer November 14, 2023 MANILA -The growth in lending by the Philippines’ largest banks slowed down for the sixth straight month to a nearly two-year low of 6.5 percent in September, adding credence to concerns that lukewarm...

By Iris Gonzales | The Philippine Star November 13, 2023 MANILA, Philippines — Cebu-based Aboitiz Group has laid the groundwork for expansion next year of its different business units as it continues with its Great Transformation journey to become the country’s first...

By The Manila Times November 15, 2023 METROPOLITAN Bank & Trust Co. (Metrobank) has greenlit a P5-billion loan facility for ACEN Corp., the listed energy platform of the Ayala Group, to fund renewable energy expansion across the country. Metrobank said Tuesday...

By Tyrone Jasper C. Piad | Philippine Daily Inquirer November 13, 2023 MANILA -NOW Telecom Co. inked a memorandum of understanding with a Nasdaq-listed satellite company to extend connectivity services in urban and remote regions lacking coverage amid the pivot to...

By Ian Nicolas P. Cigaral | Philippine Daily Inquirer November 15, 2023 MANILA -Committed foreign direct investments (FDI) in the country’s economic zones more than doubled in the third quarter, thanks to the Marcos administration’s efforts to sell the Philippines as...

By Ruth Abbey Gita-Carlos | Philippine News Agency November 14, 2023 MANILA – President Ferdinand R. Marcos Jr. on Tuesday expressed optimism that several agreements will be signed on the sidelines of his participation in the 30th Asia-Pacific Economic Cooperation...

By Louise Maureen Simeon | The Philippine Star November 13, 2023 MANILA, Philippines — The Marcos administration jacked up its debt payments to P1.4 trillion as of end-September, settling about 90 percent of its programmed obligation for the year. Data from the Bureau...

By BusinessWorld November 14, 2023 THE Ascott Limited is set to open premier serviced residence Citadines Bacolod City in 2024. The Citadines Bacolod City marks The Ascott Limited’s first project in the city. “As a property managed by The Ascott Limited, Citadines...

By BusinessWorld November 14, 2023 LANDCO PACIFIC Corp. tapped construction company Datem, Inc. to build its luxury beachside condominium in San Juan, Batangas. The Spinnaker, named and modeled after the front sail of a yacht, is a 22-storey condominium located at the...

By BusinessWorld November 14, 2023 A FIVE-STAR RESORT will soon be developed in Panglao, Bohol, and is targeted to open in 2025. Radisson Hotel Group and Crown Regency Hotels & Resorts said they signed a deal for the Crown Regency Grand Paradise Resort Bohol. The...

Ayala-led real estate investment trust company AREIT, Inc. announced on Friday that its board of directors has approved a move to acquire 276 hectares of industrial land in Zambales from Buendia Christiana Holdings Corp. (BCHC), a wholly owned subsidiary of ACEN...

POWER DISTRIBUTOR Manila Electric Co. (Meralco) has signed a deal with US-based company Ultra Safe Nuclear Corp. (USNC) to study the potential deployment of one or more micro-modular reactors (MMR) systems in the Philippines. “USNC is changing the nuclear safety and...

THE PHILIPPINE Competition Commission (PCC) deemed that there is no basis to prohibit the move of Robinsons Retail Holdings, Inc. (RRHI) to acquire 100% of Rose Pharmacy following the completion of the competition watchdog’s review, according to the listed retailer....

THE DEPARTMENT of Energy (DoE) is targeting to introduce futures and capacity markets as part of innovations in the electricity market next year, its secretary said. “At the end of this year, we will see a reserve market in place. Next year, we are working on a...

CEMEX HOLDINGS Philippines, Inc. has inked a contract with Filinvest-ENGIE Renewable Energy Enterprise, Inc. (FREE) to develop a 10.08-megawatt (MW) ground-mounted solar system in its facility in Naga City, Cebu. “This solar energy partnership is another milestone...

ONLY 17% of organizations in the Philippines are ready to utilize and deploy artificial intelligence (AI), with the majority of them expressing concerns about the impact of not adopting these technology advances, a study released on Wednesday said. In a report issued...

LISTED companies MerryMart Consumer Corp. (MM) and DoubleDragon Corp. (DD) led by billionaire Edgar J. Sia II logged better attributable net incomes in the third quarter. In a stock exchange disclosure on Wednesday, DD said its net income attributable to the equity...

PHOENIX PETROLEUM Philippines, Inc. incurred a net loss of P1.62 billion in the third quarter (Q3), wider than its P948.61 million loss in the same quarter last year, amid lower revenues. Its gross revenues sank by 35.8% to P15.25 billion from last year’s record of...

SAAVEDRA-LED Megawide Construction Corp. trimmed its net loss for the third quarter after a surge in revenues.  The company said in a stock exchange disclosure on Wednesday that its July-to-September net loss shrunk to P30.06 million from P529.28 million a year ago....

APEX Mining Co., Inc. reported an attributable net income of P1.03 billion in the third quarter, 14.8% higher than the P898 million in the same period last year, amid higher gold and silver revenues. In a regulatory filing, the company said that its top line rose by...

VILLAR-LED AllHome Corp. logged a 21% decline in its net profit for the third quarter on the back of lower sales. In a regulatory filing on Wednesday, AllHome said its net profit from July to September dropped to P139.55 million from P176.48 million last year. The...

LISTED conglomerate Ayala Corp. logged an 82.2% increase in its attributable net income for the third quarter amid higher revenues from its various businesses.  The conglomerate said in a stock exchange disclosure on Tuesday that its July-to-September profit improved...

LISTED conglomerate GT Capital Holdings, Inc. posted a 2% decline in its attributable net income for the third quarter due to higher costs and expenses.  In a regulatory filing on Tuesday, GT Capital said its July-to-September income fell to P6.5 billion from P6.65...

TAN-LED Alliance Global Group, Inc. (AGI) logged a 16% increase in its net income during the third quarter as revenues surged. In a stock exchange disclosure, AGI said its third-quarter income reached P6 billion while consolidated revenues improved 12% to P51.3...