By Mia A. Aznar
Friday, December 2, 2011
WITH already six units sold, officials of Camella Homes are hoping their latest development in Mactan will have a market of its own.
Myra Lynn Gelig, Camella North general manager, said the Condo Homes is a new concept that Camella introduced last July to provide condominium-type dwellings that have the same feel as a house and lot unit.
This is the first Camella Condo Homes project in the Visayas, and Gelig said they are looking forward to building more.
The mid-rise project has three floors and one building has just 51 units composed of studio, one-bedroom, two-bedroom and three-bedroom variants. There are also plans for a second building.
Gelig said their latest project is designed to give the owners the “familiar” sense of a home, which is why the building has a few units.
The rooftop has a garden and comes with drying cages for each unit, which owners can also turn into a storage unit.
The front part of the first floor of building also has slots for commercial units while the lower ground level will be made into a parking lot.
“These new units will be like our existing home projects, but in a building,” she said.
Gelig said the two-hectare property and the entire project cost the company some P180 million.
She admitted that their promotions for Filipinos and retirees abroad paid off, with some of them being the first buyers of their units.
Prices range from P1.6 million to P4.5 million and areas from 25 square meters to 72 square meters.
Launched Thursday, the condominium units are being sold as dwellings for the independent professional, the rising entrepreneur, a happy retiree and an active family.
The concept was demonstrated in a fashion show that featured a collection by Dexter Alazas.
Those who reserved units that night were given prizes, from a designer wardrobe by Dexter Alazas to smartphones and tablet computers.
Construction is set to begin in May next year while buyers will be able to move in by June 2013.
Published in the Sun.Star Cebu newspaper on December 03, 2011.
Biyernes, Disyembre 2, 2011
Taft Property reports brisk sales in landmark Horizons project
Friday, December 2, 2011
THE Gaisano-led Taft Property’s Horizons 101, touted to be Cebu’s tallest landmark, officially broke ground on Tuesday to signal the start of the construction of its Tower 1.
A top official of the firm said Tower 1 is over 50 percent sold out. Most of its buyers are from the locals here and from neighboring islands in the Visayas.
Taft Property Ventures Development Corp. chief operating officer Manuel Colayco said the fast sales take-up of the project was buoyed by Cebu’s big, underserved market for residences.
Colayco said Cebu Province has an unserved requirement of 167,000 units for the middle-income category, for house units with prices ranging from P1.25 million to P3 million.
Taft Property started selling their condo units in March this year.
Horizons 101 is the firm’s first vertical project. The project, which is located along Gen. Maxilom Ave. in Cebu City, has a total of 1,468 units. The 55-storey Tower 1 will house 868 units, while the 46-storey Tower 2 will have 600 units.
Price range
Taft Property has earmarked P1.7 billion for the development of Tower 1. The company is expected to spend close to P3 billion for the combined development of the two towers.
The delivery of Tower 1’s units is set in the first quarter of 2015. Unit prices range from P1.7 million to P5.79 million.
Asked about the firm’s outlook in the real estate industry, Colayco said Cebu is a promising market despite the challenges brought about by some external factors.
But he stressed the company remains conservative in its forecast, and the launch of Tower 2 will depend on sales performance for Tower 1 and the conditions of the world economy are ready,” Colayco said.
Colayco also announced the company will keep on developing residential communities in Cebu.
Among the plans is to build a horizontal development in a 14-hectare property in Marigondon, Mactan which will be called Green Island Residences. The project will house about 400 units.
Colayco said this residential project will be launched early next year. The company is currently negotiating with lot owners.
Interests
“We are looking at P200 million to P350 million as initial investment of the project,” he said.
Taft Property is the real estate arm of Vicsal Development Corp. that also manages the Metro Chain of stores, Vicsal Investment Inc., Wealthbank, Vicsal Securities and Stock Brokerage Inc., Filipino Fund Inc., Prime Asia, Grand Holidays and Vicsal Foundation.
Among Taft Property’s successful developments are Palmas Verdes, Nichols Park, Palm Heights Subdivision and Hacienda Salinas. KOCUs At ex
Published in the Sun.Star Cebu newspaper on December 03, 2011.
Huwebes, Disyembre 1, 2011
Real estate firm asserts claim over 9.7-hectare lot in Cebu
Friday, December 2, 2011
CEBU CITY – Filinvest Land Inc. (FLI) has formally asserted its ownership of a 9.7-hectare lot at the South Road Properties (SRP) in Cebu City, which is being eyed by the Rallos heirs as payment of the City to satisfy the P133-million monetary award for the use of their lot.
Court sheriff Eugenio Fuentes Jr. confirmed Thursday that FLI filed last week a third-party claim or a formal claim asserting a right to possess the property that is subject for public auction next week.
With the filing of the formal claim, Fuentes said he would require the Rallos heirs to put up P1.2 billion as indemnity bond, which will serve as a guarantee for any damage that the December 13 public auction of the 9.7-hectare SRP lot may cause.
If the Ralloses fail to post the indemnity bond by December 12, the public sale of the property will not push through, Fuentes said.
The amount represents the estimated cost of the development that Filinvest will undertake in the SRP.
The Rallos heirs chose the 9.7-hectare SRP lot as the City's payment for the P133-million judgment debt, said Fuentes.
The lot owners picked the property apparently because of its high commercial value, and because they believe that the property forms part of the 50.6-hectare residential and commercial development project of Filinvest.
Filinvest purchases a 10.6-hectare lot in the SRP and is developing another 40 hectares under a joint venture agreement with the City Government.
Earlier, though, a Filinvest representative dismissed the idea that the properties they are developing are the same properties referred to by the heirs of Fr. Vicente Rallos, which will be auctioned off on December 13.
The Rallos heirs want the sheriff to implement the notice of garnishment against the City's properties, after Judge James Stewart Ramon Himalaloan ordered City Hall to pay the Rallos heirs P133 million for the 4,654-square-meter lot being used as a road-right-of-way in Barangay Sambag II.
In an interview Thursday, Fuentes said the rules of court will have to be observed before the scheduled auction can be cancelled.
Under Rule 4 of the Revised Rules of Court of the Philippines, the law provides that all proceedings, including the execution or auction sale of a property, shall automatically be suspended if the third party claim is found to be valid.
The arbitrator who issued the writ of execution shall conduct a hearing with due notice to all parties concerned, and resolve the validity of the claim within 10 days from receipt of the notice.
Once the third party claim is declared valid, the sheriff shall immediately release the property to the third party claimant, his agent or representative and the levy on execution shall be lifted.
However, the sheriff shall proceed with the execution of the property levied upon if the third party claim is found to be without factual or legal basis.
Before the sheriff disclosed the filing of Filinvest's third party claim, Judge Himalaloan told the counsels of both parties that his decision to voluntarily inhibit from handling the case stays.
In open court, Himalaloan said he could not yet comment on the City's pending motions that seek to stop the public auction of the 9.7-hectare SRP lot and the reversal of the court ruling denying the City's plea to quash the writ of execution.
RTC Executive Judge Silvestre Maamo has yet to act on the inhibition of Himalaloan, who earlier cited the monthly stipend he is receiving from the City as the reason he is letting go of the Rallos case.
"(Monthly allowance) is enough just and valid grounds for the sitting judge to inhibit himself," said Himalaloan in his two-page order.
City Hall lawyers said the public auction of the 9.7-hectare SRP lot scheduled on December 13 may push through if the court will not resolve their motions immediately.
But Himalaloan said the city lawyers can file pleadings to suspend the public auction.
Himalaloan earlier thumbed down the City's motion to quash the writ of execution and set aside the notice of garnishment issued to satisfy the money award.
With the court's order for the issuance of an amended writ of execution, notices on the execution sale at a public auction were posted by the sheriff inside the Palace of Justice and Cebu Post Office.
The notices indicate that a parcel of SRP lot, which is comprised of 97,621 square meters, or 9.76 hectares, "is for sale at a public auction on December 13."
Fuentes, in the notice, advised prospective buyers, though, to "examine and verify" for themselves for any encumbrance on the property.
Several other court rules cover the garnishment or the public auction of government properties and assets.
Administrative Circular 10-2000 issued by the Supreme Court provides that "judges are hereby enjoined to observe utmost caution, prudence and judiciousness in the issuance of writs of execution to satisfy money judgments against government agencies and local government units."
Presidential Decree (PD) 1445, or the Government Auditing Code of the Philippines, also states that "upon determination of state liability, the prosecution, enforcement or satisfaction must still be pursued."
Sections 49-50 of PD 1445 further provides that all money claims against the government must be filed first with the Commission on Audit, which is mandated to act on the matter within 60 days.
If rejected, the claimants may file a petition with the High Court via certiorari.
Meanwhile, Mayor Michael Rama and the department heads conducted an ocular inspection of the Rallos property on Thursday, and saw that several houses stand on a portion of the lot that is now being used as a road-right-of-way. The city officials saw that there were houses built on the lot that is now the main road in Sambag II, and were told that the housing project was initiated by Pagtambayayong Foundation Inc.
Rama refused to confirm the involvement of Pagtambayayong, which is headed by former city administrator Francisco Fernandez, an ally of Representative Tomas Osmeña (Cebu City, south district).
When Fernandez heard about the matter Thursday, he immediately sent his staff to the site to investigate it.
He later confirmed that Pagtambayayong helped the urban poor group Hiniusang Kusog sa mga Kabus Inc. (HKKI) to build their houses in the area near the Rallos lot in 1988, through the community mortgage program (CMP).
"They own the titles to the lot but some encroached on the road," Fernandez said.
The lots where the houses stand were purchased from the Cuenco family.
The properties are beside the Rallos lot but Fernandez admitted that there are "a few houses" that encroached on the subject road lot.
"It was surveyed and the people know the boundary. So I have no objection as to what the City will do to those who encroached because they (urban poor) know the boundary," he told Sun.Star Cebu.
While some houses encroached on the road, the entire house does not stand on the road lot, which means that no one will be displaced in the event the City clears the road.
HKKI has 111 members but Fernandez does not have the number of families living in the area near the Rallos property.
Rama brought the department heads and lawyers from the City Legal Office so they would know the situation in the area.
He said he has asked Division for the Welfare of the Urban Poor (DWUP) Chief Collin Rosell to investigate the matter.
"Many have occupied (part of the property) some years ago and I have asked Attorney Rosell to look at both sides because of reports that an organization is responsible for (the houses) being there," said Rama. (GMD/JGA of Sun.Star Cebu)
Published in the Sun.Star Cebu newspaper on December 02, 2011.
CEBU CITY – Filinvest Land Inc. (FLI) has formally asserted its ownership of a 9.7-hectare lot at the South Road Properties (SRP) in Cebu City, which is being eyed by the Rallos heirs as payment of the City to satisfy the P133-million monetary award for the use of their lot.
Court sheriff Eugenio Fuentes Jr. confirmed Thursday that FLI filed last week a third-party claim or a formal claim asserting a right to possess the property that is subject for public auction next week.
With the filing of the formal claim, Fuentes said he would require the Rallos heirs to put up P1.2 billion as indemnity bond, which will serve as a guarantee for any damage that the December 13 public auction of the 9.7-hectare SRP lot may cause.
If the Ralloses fail to post the indemnity bond by December 12, the public sale of the property will not push through, Fuentes said.
The amount represents the estimated cost of the development that Filinvest will undertake in the SRP.
The Rallos heirs chose the 9.7-hectare SRP lot as the City's payment for the P133-million judgment debt, said Fuentes.
The lot owners picked the property apparently because of its high commercial value, and because they believe that the property forms part of the 50.6-hectare residential and commercial development project of Filinvest.
Filinvest purchases a 10.6-hectare lot in the SRP and is developing another 40 hectares under a joint venture agreement with the City Government.
Earlier, though, a Filinvest representative dismissed the idea that the properties they are developing are the same properties referred to by the heirs of Fr. Vicente Rallos, which will be auctioned off on December 13.
The Rallos heirs want the sheriff to implement the notice of garnishment against the City's properties, after Judge James Stewart Ramon Himalaloan ordered City Hall to pay the Rallos heirs P133 million for the 4,654-square-meter lot being used as a road-right-of-way in Barangay Sambag II.
In an interview Thursday, Fuentes said the rules of court will have to be observed before the scheduled auction can be cancelled.
Under Rule 4 of the Revised Rules of Court of the Philippines, the law provides that all proceedings, including the execution or auction sale of a property, shall automatically be suspended if the third party claim is found to be valid.
The arbitrator who issued the writ of execution shall conduct a hearing with due notice to all parties concerned, and resolve the validity of the claim within 10 days from receipt of the notice.
Once the third party claim is declared valid, the sheriff shall immediately release the property to the third party claimant, his agent or representative and the levy on execution shall be lifted.
However, the sheriff shall proceed with the execution of the property levied upon if the third party claim is found to be without factual or legal basis.
Before the sheriff disclosed the filing of Filinvest's third party claim, Judge Himalaloan told the counsels of both parties that his decision to voluntarily inhibit from handling the case stays.
In open court, Himalaloan said he could not yet comment on the City's pending motions that seek to stop the public auction of the 9.7-hectare SRP lot and the reversal of the court ruling denying the City's plea to quash the writ of execution.
RTC Executive Judge Silvestre Maamo has yet to act on the inhibition of Himalaloan, who earlier cited the monthly stipend he is receiving from the City as the reason he is letting go of the Rallos case.
"(Monthly allowance) is enough just and valid grounds for the sitting judge to inhibit himself," said Himalaloan in his two-page order.
City Hall lawyers said the public auction of the 9.7-hectare SRP lot scheduled on December 13 may push through if the court will not resolve their motions immediately.
But Himalaloan said the city lawyers can file pleadings to suspend the public auction.
Himalaloan earlier thumbed down the City's motion to quash the writ of execution and set aside the notice of garnishment issued to satisfy the money award.
With the court's order for the issuance of an amended writ of execution, notices on the execution sale at a public auction were posted by the sheriff inside the Palace of Justice and Cebu Post Office.
The notices indicate that a parcel of SRP lot, which is comprised of 97,621 square meters, or 9.76 hectares, "is for sale at a public auction on December 13."
Fuentes, in the notice, advised prospective buyers, though, to "examine and verify" for themselves for any encumbrance on the property.
Several other court rules cover the garnishment or the public auction of government properties and assets.
Administrative Circular 10-2000 issued by the Supreme Court provides that "judges are hereby enjoined to observe utmost caution, prudence and judiciousness in the issuance of writs of execution to satisfy money judgments against government agencies and local government units."
Presidential Decree (PD) 1445, or the Government Auditing Code of the Philippines, also states that "upon determination of state liability, the prosecution, enforcement or satisfaction must still be pursued."
Sections 49-50 of PD 1445 further provides that all money claims against the government must be filed first with the Commission on Audit, which is mandated to act on the matter within 60 days.
If rejected, the claimants may file a petition with the High Court via certiorari.
Meanwhile, Mayor Michael Rama and the department heads conducted an ocular inspection of the Rallos property on Thursday, and saw that several houses stand on a portion of the lot that is now being used as a road-right-of-way. The city officials saw that there were houses built on the lot that is now the main road in Sambag II, and were told that the housing project was initiated by Pagtambayayong Foundation Inc.
Rama refused to confirm the involvement of Pagtambayayong, which is headed by former city administrator Francisco Fernandez, an ally of Representative Tomas Osmeña (Cebu City, south district).
When Fernandez heard about the matter Thursday, he immediately sent his staff to the site to investigate it.
He later confirmed that Pagtambayayong helped the urban poor group Hiniusang Kusog sa mga Kabus Inc. (HKKI) to build their houses in the area near the Rallos lot in 1988, through the community mortgage program (CMP).
"They own the titles to the lot but some encroached on the road," Fernandez said.
The lots where the houses stand were purchased from the Cuenco family.
The properties are beside the Rallos lot but Fernandez admitted that there are "a few houses" that encroached on the subject road lot.
"It was surveyed and the people know the boundary. So I have no objection as to what the City will do to those who encroached because they (urban poor) know the boundary," he told Sun.Star Cebu.
While some houses encroached on the road, the entire house does not stand on the road lot, which means that no one will be displaced in the event the City clears the road.
HKKI has 111 members but Fernandez does not have the number of families living in the area near the Rallos property.
Rama brought the department heads and lawyers from the City Legal Office so they would know the situation in the area.
He said he has asked Division for the Welfare of the Urban Poor (DWUP) Chief Collin Rosell to investigate the matter.
"Many have occupied (part of the property) some years ago and I have asked Attorney Rosell to look at both sides because of reports that an organization is responsible for (the houses) being there," said Rama. (GMD/JGA of Sun.Star Cebu)
Published in the Sun.Star Cebu newspaper on December 02, 2011.
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