By Mia A. Aznar
Tuesday, November 29, 2011
REAL estate brokers do not see a slowing down of condominium developments in the next five years, even with the sudden growth of such projects in Cebu.
Richard Azares, incoming president of the Philippine Association of Realtors Board (Pareb)-Cebu Realtors Board (Cereb), said they remain bullish on the market for condominium units.
Azares noted that the bulk of the buyers are investors and overseas Filipino workers (OFWs), who make up 50 percent of the buyers of condominium units.
However, they also cater to starter families, retirees who don’t want the hassle of maintaining a big house, and those working in business process outsourcing companies.
Though majority of the projects are between the P1-million and P3-million range, Azares noted that there is a niche for the high-end condominium units, those that are over P5 million.
“You would be surprised,” Azares told Sun.Star, saying the more expensive condominium units are also selling fast.
While some still consider it as an investment, there are many who opt to live in condominium units.
The optimism for the condominium development comes from the fact that many of these units are already sold at the pre-selling stage, which is not happening in other countries.
Investors, on the other hand, feel real estate is the safest investment these days. “Some of them buy one unit in each development.”
Though most of these investors are Cebuanos, Azares noted business owners from Mindanao are among their buyers, particularly those who want to send their children to school here and buy condominiums for them to stay in.
He acknowledged that some are apprehensive about the sudden rise in condominium development but he allayed fears that too many are being built at the same time that there could be market saturation.
“For now, we don’t see that happening,” he said.
House and lot units are also climbing steadily, although the growth is not as fast as with condominium projects.
Azares said that for Filipinos, they can never go wrong if they invest in real estate. Instead of just keeping money in the bank, which gives low interest rates, leasing or reselling property gives them more for their money.
He cited the case of Consolacion, which once sold lots for P1,000 per square meter.
With the opening of the Cansaga Bridge and the development of a new SM mall, Azares said lots in the town now fetch prices of not less than P5,000.
However, he still believes the development is heading south, with the South Coastal Road and South Road Properties paving the way.
Published in the Sun.Star Cebu newspaper on November 30, 2011.
Miyerkules, Nobyembre 30, 2011
ALI plans to integrate business, IT parks
By Katlene O. Cacho
Tuesday, November 29, 2011
AYALA Land Inc. (ALI) recently launched Cebu Park District, a new brand that aims to promote further its two major developments here, the Cebu Business Park and Cebu I.T. Park (formerly Asiatown I.T. Park).
ALI president and chairman of Cebu Holdings Inc. Antonino Aquino last week said the new brand is meant to uplift the image of Cebu’s twin business districts as a “complete destination in itself yet complementing each other to create the premier
district of business, leisure and living in the region.”
He said the new branding would help them reinforce the firm’s footing in the real estate industry in the Southern Philippines.
Aquino compared Makati and Bonifacio Global City with CBP and Cebu I.T. Park, which have similar integrated developments. “We want to replicate the success of our developments in Manila here in Cebu,” Aquino said.
“Cebu Park District is a testimony to the company’s proven track record of building integrated cities that offer diversity, vibrancy, and dynamism. Already recognized as the city’s leading destination for shopping, dining, and recreation, on top of being a thriving business hub, efforts are now underway to integrate CBP with Cebu I.T. Park,” ALI said.
Aquino said the Cebu Park District will be a home of an integrated urban community.
“Our intent is to continue to build toward this vision: to introduce people to a mixed-use and integrated living concept where the live-work-play equity comes to life.”
More to come
ALI and Cebu Holdings Inc. have invested over P10 billion in the last 22 years. Aquino said the company will be investing over P10 billion more for new developments in Cebu over the next five years.
Six buildings are under construction and two more developments are expected to begin within the year at CBP. Cebu I.T. Park, on the other hand, continues to see rapid development with seven buildings under construction.
According to ALI, CBP and Cebu I.T. Park today compose the biggest twin master-planned developments in Southern Philippines and are both certified as business and I.T. economic zones by the Philippine Economic Zone Authority.
ALI believes with the accelerated build-up, Cebu Park District will be able to provide more opportunities for employment and entrepreneurship. CBP and Cebu I.T. Park have over 35,000 workers, a figure that’s expected to grow by 20 percent next year.
Aside from building communities, office and retail establishments, ALI has also invested in infrastructure improvements to improve pedestrian and traffic management within the parks, as well as landscaping and streetscapes to maintain the “park experience”.
Published in the Sun.Star Cebu newspaper on November 30, 2011.
Tuesday, November 29, 2011
AYALA Land Inc. (ALI) recently launched Cebu Park District, a new brand that aims to promote further its two major developments here, the Cebu Business Park and Cebu I.T. Park (formerly Asiatown I.T. Park).
ALI president and chairman of Cebu Holdings Inc. Antonino Aquino last week said the new brand is meant to uplift the image of Cebu’s twin business districts as a “complete destination in itself yet complementing each other to create the premier
district of business, leisure and living in the region.”
He said the new branding would help them reinforce the firm’s footing in the real estate industry in the Southern Philippines.
Aquino compared Makati and Bonifacio Global City with CBP and Cebu I.T. Park, which have similar integrated developments. “We want to replicate the success of our developments in Manila here in Cebu,” Aquino said.
“Cebu Park District is a testimony to the company’s proven track record of building integrated cities that offer diversity, vibrancy, and dynamism. Already recognized as the city’s leading destination for shopping, dining, and recreation, on top of being a thriving business hub, efforts are now underway to integrate CBP with Cebu I.T. Park,” ALI said.
Aquino said the Cebu Park District will be a home of an integrated urban community.
“Our intent is to continue to build toward this vision: to introduce people to a mixed-use and integrated living concept where the live-work-play equity comes to life.”
More to come
ALI and Cebu Holdings Inc. have invested over P10 billion in the last 22 years. Aquino said the company will be investing over P10 billion more for new developments in Cebu over the next five years.
Six buildings are under construction and two more developments are expected to begin within the year at CBP. Cebu I.T. Park, on the other hand, continues to see rapid development with seven buildings under construction.
According to ALI, CBP and Cebu I.T. Park today compose the biggest twin master-planned developments in Southern Philippines and are both certified as business and I.T. economic zones by the Philippine Economic Zone Authority.
ALI believes with the accelerated build-up, Cebu Park District will be able to provide more opportunities for employment and entrepreneurship. CBP and Cebu I.T. Park have over 35,000 workers, a figure that’s expected to grow by 20 percent next year.
Aside from building communities, office and retail establishments, ALI has also invested in infrastructure improvements to improve pedestrian and traffic management within the parks, as well as landscaping and streetscapes to maintain the “park experience”.
Published in the Sun.Star Cebu newspaper on November 30, 2011.
ALI launches multi-tower Solinea
By Katlene O. Cacho
Friday, November 25, 2011
PROPERTY developer Ayala Land Inc. (ALI) on Thursday officially launched Solinea, the first multi-tower development soon to rise at the Cebu Business Park (CBP) under the Alveo brand.
ALI president and chairman of Cebu Holdings Inc. (CHI) Antonino Aquino said the project is expected to introduce a new landmark in Cebu, in addition to a couple more residential and commercial developments at CBP today.
Aquino said Solinea is another testament to ALI’s confidence in Cebu’s thriving local economy. The company expects the demand for residential projects in Cebu to continue to surge, given the booming tourism and business process outsourcing markets.
He also pointed out that the local property market is poised to strengthen further due to the low-interest environment. Low interest rates offered by banks have driven investors to develop residential projects since end-users can more likely acquire the units.
ALI and CHI will be investing over P10 billion in new developments in Cebu over the next five years. This is in addition to the over P10 billion it already invested in the last 22 years, Aquino said.
According to Alveo Land, Solinea is the firm’s first multi-tower development in Cebu City, master-planned and envisioned to offer city resort living—“a balanced lifestyle merging the vibrant pace of the city and the relaxing ambience of a resort-inspired environment.”
Alveo Land is the middle-income unit of ALI and is the developer of Two Serendra at the Bonifacio Global City in Taguig.
Jennylle Tupaz, project development head for Alveo Land, said Solinea is initially planned to be a five-tower development on a 2.6-hectare property at CBP.
The first phase of the development is a 29-storey tower with 591 units.
Tupaz said total investment cost for Tower 1 is estimated at P1.8 billion, while its estimated sales value is at P2.4 billion.
The Tower 1 will offer studio units (25-31 square meters) at P2.5 million; one-bedroom units (34-39 sq.m.) at P4.2 million; and two-bedroom units (50-63 sq.m.) at P5.3 million. Solinea will also offer two special units: garden flats and urban flats.
Tower 1 will also have five levels dedicated for podium parking.
Tupaz said construction of the project will begin early next year. Alveo hopes to turn over Tower 1 by the fourth quarter of 2016.
Tupaz described Solinea as a resort-residential lifestyle set in a thriving urban enclave. The development will have lush landscapes, and manicured pocket garden and open spaces.
Among its exclusive amenities are a swimming pool, central clubhouse with a gym, function and game rooms, and retail and dining areas.
The Solinea project is a joint venture of Alveo Land and CHI.
Alveo’s first entry in the Visayas-Mindanao market is its flagship project Sedona Parc, a 21-storey residential condominium project with 114 units, also located at the CBP. Sedona Parc is already 70 percent sold out.
Published in the Sun.Star Cebu newspaper on November 26, 2011.
Friday, November 25, 2011
PROPERTY developer Ayala Land Inc. (ALI) on Thursday officially launched Solinea, the first multi-tower development soon to rise at the Cebu Business Park (CBP) under the Alveo brand.
ALI president and chairman of Cebu Holdings Inc. (CHI) Antonino Aquino said the project is expected to introduce a new landmark in Cebu, in addition to a couple more residential and commercial developments at CBP today.
Aquino said Solinea is another testament to ALI’s confidence in Cebu’s thriving local economy. The company expects the demand for residential projects in Cebu to continue to surge, given the booming tourism and business process outsourcing markets.
He also pointed out that the local property market is poised to strengthen further due to the low-interest environment. Low interest rates offered by banks have driven investors to develop residential projects since end-users can more likely acquire the units.
ALI and CHI will be investing over P10 billion in new developments in Cebu over the next five years. This is in addition to the over P10 billion it already invested in the last 22 years, Aquino said.
According to Alveo Land, Solinea is the firm’s first multi-tower development in Cebu City, master-planned and envisioned to offer city resort living—“a balanced lifestyle merging the vibrant pace of the city and the relaxing ambience of a resort-inspired environment.”
Alveo Land is the middle-income unit of ALI and is the developer of Two Serendra at the Bonifacio Global City in Taguig.
Jennylle Tupaz, project development head for Alveo Land, said Solinea is initially planned to be a five-tower development on a 2.6-hectare property at CBP.
The first phase of the development is a 29-storey tower with 591 units.
Tupaz said total investment cost for Tower 1 is estimated at P1.8 billion, while its estimated sales value is at P2.4 billion.
The Tower 1 will offer studio units (25-31 square meters) at P2.5 million; one-bedroom units (34-39 sq.m.) at P4.2 million; and two-bedroom units (50-63 sq.m.) at P5.3 million. Solinea will also offer two special units: garden flats and urban flats.
Tower 1 will also have five levels dedicated for podium parking.
Tupaz said construction of the project will begin early next year. Alveo hopes to turn over Tower 1 by the fourth quarter of 2016.
Tupaz described Solinea as a resort-residential lifestyle set in a thriving urban enclave. The development will have lush landscapes, and manicured pocket garden and open spaces.
Among its exclusive amenities are a swimming pool, central clubhouse with a gym, function and game rooms, and retail and dining areas.
The Solinea project is a joint venture of Alveo Land and CHI.
Alveo’s first entry in the Visayas-Mindanao market is its flagship project Sedona Parc, a 21-storey residential condominium project with 114 units, also located at the CBP. Sedona Parc is already 70 percent sold out.
Published in the Sun.Star Cebu newspaper on November 26, 2011.
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