By Katlene O. Cacho
Monday, December 19, 2011
ENCOURAGED by the country’s booming real estate industry, Camella, a subsidiary of Vista Land and Lifescapes Inc. (Vista Land) is set to launch 14 residential projects in new areas across the country in the first quarter of 2012.
Three of these projects will be in new areas in Cebu, a company official disclosed.
Camella Cebu North general manager Myra Lynn Gilig, in an interview over the weekend, said the company’s expansion is motivated by the country’s healthy real estate industry, supported by the growing overseas Filipino market.
Gilig noted 60 percent of the accounts of Camella are those of overseas Filipino workers.
The three new projects in Cebu, she said, are in addition to the company’s existing 33 projects here. She added the company will also be expanding their existing developments such as those located in Talisay City and Barangay Talamban in Cebu City.
Last Saturday, Camella launched four new model townhouse units at The Courtyards in Pasadena, an extension of its Pasadena community in Guadalupe, Cebu City.
The Courtyards in Pasadena will house a total of 24 three-bedroom townhouse units priced at P4.6 million to P7 million.
Interior design consultant Architect Michael Pizarro said the units are ideal for start-up or small families who wish to live in a private community.
“Our focus here is to provide a modern-day living space that is anchored on comfort and privacy,” Pizarro said, adding they have “stepped up” the idea of homes at the Courtyards to catch the attention of the discriminating market.
The house units at the Courtyards use neutral colors to promote laid-back living.
Among the project’s amenities is a swimming pool and community pavilion.
Camella Cebu already sold 40 percent of its units to mostly local buyers living in Cebu or neighboring islands.
Gilig said they are optimistic about the market considering that the project is strategically located, just minutes away from the city center. She added the low interest on home loans now being offered by banks has also helped them attract buyers.
Vista Land reported its sales for the third quarter reached over P6.2 billion, bringing the total sales for the first nine months of the year to P18.3 billion.
Vista Land chief executive officer Manuel Paolo Villar said the company is confident it would meet or even exceed its net income and sales targets for fiscal year 2011 despite market uncertainties.
For the first nine months of the year, Vista Land’s real estate revenues was at P9.9 billion while its net income stood at P2.61 billion. The company earlier said it is targeting about P3.4 billion in earnings and approximately P24 billion in sales for the full year.
“We have had three consecutive quarters of record sales, with the bulk accounted for by our flagship Camella brand. We expect to see continued strong sales performance for our company in the fourth quarter as demand for house and lots, particularly in the mid- to low-end segment of the market, continues to be robust,” said Ricardo Tan, Jr. Vista Land’s chief financial officer.
Vista Land is the holding company of five business units: Brittany, Crown Asia, Camella Homes, Communities Philippines and Vista Residences.
Published in the Sun.Star Cebu newspaper on December 20, 2011.
Huwebes, Enero 5, 2012
Firm unveils Mandaue project
By Katlene O. Cacho
Sunday, December 4, 2011
DESPITE numerous residential developments in Cebu, homegrown property developer Maria Luisa Properties said it is optimistic it would get a good share of the market with the announcement of its latest premier development, The Heritage, in Jagobiao, Mandaue City.
“We have been a pioneer in gated residential community here in Cebu. We know the Cebuano market well and their preferences when it comes to building homes. Cebuanos may be frugal but when it comes to homes, they (buyers) spend more than luxury,” said Annie Aboitiz, general manager of Maria Luisa Properties.
The Heritage sits on a 13.6-hectare property in Jagobiao, which Aboitiz said is the Osmeña’s family farm, Hacienda Mandaue. The property will be converted into a high-end subdivision with over 200 lots.
Lot prices range from P9,000 to P12,000 per square meter. Since it started selling this month, the firm has already sold six lots.
Aboitiz said The Heritage will have a well-designed and environment-friendly infrastructure and amenities such as a clubhouse and swimming pool; a fishing pond and parks and tree-lined streets.
Unlike other residential developments today, Aboitiz said that what sets this project apart is the completion of its roads and utility infrastructure. Construction of the clubhouse and the fishing pond is also underway.
Aboitiz said buyers can now start building their homes with ease and convenience. The Heritage requires a minimum ceiling of P2.5 million with maximum house height of nine meters.
To make the project an ideal place to live in, Aboitiz said they have retained the trees in the area and even planted 250 more trees. She said she will also be planting Palawan cherries.
Asked if the company will build more vertical projects, Aboitiz said Cebu is already saturated with condominium projects and the firm will focus on building horizontal real estate projects for Cebuanos instead.
Maria Luisa Properties was founded by Mary Renner Osmeña. Its first project was the 10 -hectare high-end Maria Luisa Estate Park, which expanded to 200 hectares of prime residential property.
Among its other projects in Cebu are The Highlands, Red Stone Village, Dancing Sun Subdivision, Maryville Subdivision, Maryville Heights, Casili Hills Subdivision, Mahogany Place, and 8 Maria Luisa.
Published in the Sun.Star Cebu newspaper on December 05, 2011.
Sunday, December 4, 2011
DESPITE numerous residential developments in Cebu, homegrown property developer Maria Luisa Properties said it is optimistic it would get a good share of the market with the announcement of its latest premier development, The Heritage, in Jagobiao, Mandaue City.
“We have been a pioneer in gated residential community here in Cebu. We know the Cebuano market well and their preferences when it comes to building homes. Cebuanos may be frugal but when it comes to homes, they (buyers) spend more than luxury,” said Annie Aboitiz, general manager of Maria Luisa Properties.
The Heritage sits on a 13.6-hectare property in Jagobiao, which Aboitiz said is the Osmeña’s family farm, Hacienda Mandaue. The property will be converted into a high-end subdivision with over 200 lots.
Lot prices range from P9,000 to P12,000 per square meter. Since it started selling this month, the firm has already sold six lots.
Aboitiz said The Heritage will have a well-designed and environment-friendly infrastructure and amenities such as a clubhouse and swimming pool; a fishing pond and parks and tree-lined streets.
Unlike other residential developments today, Aboitiz said that what sets this project apart is the completion of its roads and utility infrastructure. Construction of the clubhouse and the fishing pond is also underway.
Aboitiz said buyers can now start building their homes with ease and convenience. The Heritage requires a minimum ceiling of P2.5 million with maximum house height of nine meters.
To make the project an ideal place to live in, Aboitiz said they have retained the trees in the area and even planted 250 more trees. She said she will also be planting Palawan cherries.
Asked if the company will build more vertical projects, Aboitiz said Cebu is already saturated with condominium projects and the firm will focus on building horizontal real estate projects for Cebuanos instead.
Maria Luisa Properties was founded by Mary Renner Osmeña. Its first project was the 10 -hectare high-end Maria Luisa Estate Park, which expanded to 200 hectares of prime residential property.
Among its other projects in Cebu are The Highlands, Red Stone Village, Dancing Sun Subdivision, Maryville Subdivision, Maryville Heights, Casili Hills Subdivision, Mahogany Place, and 8 Maria Luisa.
Published in the Sun.Star Cebu newspaper on December 05, 2011.
Miyerkules, Enero 4, 2012
First Homes, the perfect city address for first time homebuyers
In a country where condominiums are oftentimes more expensive than a house and lot, it is certainly good to know that there are quality condo units within the city's prime locations that first time homebuyers can truly afford.
This type of affordable condominiums that make in city living within reach is exemplified by the real estate property projects of First Homes Inc., namely, Aurora Heights Residences on Aurora Avenue, Quezon City, and First Homes Makati in Makati City.
What makes this pleasantly surprising is that these developments came from the same prestigious Eton brand of residential condominiums. First Homes Inc. (FHI) is a wholly owned subsidiary of Eton Properties Philippines Inc. (EPPI), the property arm of the Lucio Tan Group of Companies and one of the leading full-range property developers in the country today.
According to EPPI president Danilo Ignacio, "It used to be that condominium projects come in bigger sizes and are sold at higher prices. This has changed in recent years with the popularity of mid-market condos. And now First Homes is once more revolutionizing home ownership as it makes it possible for the middle income market to have a condo residence within the city's prime addresses".
With its best value homes that are carefully designed and have advantageous location and amenities, FHI endeavors to establish a strong presence in the broad affordable market segment which accounts for a huge number of households in the country.
Aurora Heights Residences, the first project of First Homes Inc. is a transit oriented, 20-storey condominium that is fully furnished and move-in ready. Innovative space planning and custom-built furniture deliver beautiful and functional fully-fitted two and three-bedroom units. With an affordable amortization of P10, 000 a month, one can have a two-bedroom unit and enjoy a lifestyle centered on modern city conveniences.
The project also has complete amenities including a large clubhouse with receiving areas for guests, an adult and kiddie pool, landscaped gardens as well as commercial establishments at the ground floor.
Aurora Heights Residences is a few minutes away from the university belt comprising UP Diliman, Miriam College and Ateneo de Manila University. Just five minutes away from the LRT Santolan station, major shopping complexes such as SM City Marikina, Robinsons Mall and Araneta Center are very accessible via the LRT/MRT.
"We are here to offer the market the best mix in terms of price location and project features," Ignacio said.
The second FHI project is even more remarkable — First Homes Makati a 34-storey residential condominium situated at the corner of Chino Roces Avenue (formerly Pasong Tamo) and Malugay Street. First Homes Makati is just steps from Sen. Gil Puyat Avenue and minutes from Ayala Avenue. Aside from being in the heart of the country's foremost financial district, the project is also near major malls as well as schools such as the Centro Escolar University, Mapua Institute of Technology and Far Eastern University.
Perfect for young employees, working students, and newlywed couples, First Homes Makati features fully furnished and move-in ready two-bedroom and three-bedroom residential units. Amortization starts at an affordable P10, 000 a month for the two-bedroom unit and P17, 000 a month for the three-bedroom unit.
Ignacio said, "With First Homes projects, we intend to convince the market of the merits of buying a condo over renting. We also want to capitalize on the trend of homebuyers choosing condo ownership over buying a house and lot because of its accessibility to the work place and other most frequented places like malls".
www.firsthomes.com.ph
This type of affordable condominiums that make in city living within reach is exemplified by the real estate property projects of First Homes Inc., namely, Aurora Heights Residences on Aurora Avenue, Quezon City, and First Homes Makati in Makati City.
What makes this pleasantly surprising is that these developments came from the same prestigious Eton brand of residential condominiums. First Homes Inc. (FHI) is a wholly owned subsidiary of Eton Properties Philippines Inc. (EPPI), the property arm of the Lucio Tan Group of Companies and one of the leading full-range property developers in the country today.
According to EPPI president Danilo Ignacio, "It used to be that condominium projects come in bigger sizes and are sold at higher prices. This has changed in recent years with the popularity of mid-market condos. And now First Homes is once more revolutionizing home ownership as it makes it possible for the middle income market to have a condo residence within the city's prime addresses".
With its best value homes that are carefully designed and have advantageous location and amenities, FHI endeavors to establish a strong presence in the broad affordable market segment which accounts for a huge number of households in the country.
Aurora Heights Residences, the first project of First Homes Inc. is a transit oriented, 20-storey condominium that is fully furnished and move-in ready. Innovative space planning and custom-built furniture deliver beautiful and functional fully-fitted two and three-bedroom units. With an affordable amortization of P10, 000 a month, one can have a two-bedroom unit and enjoy a lifestyle centered on modern city conveniences.
The project also has complete amenities including a large clubhouse with receiving areas for guests, an adult and kiddie pool, landscaped gardens as well as commercial establishments at the ground floor.
Aurora Heights Residences is a few minutes away from the university belt comprising UP Diliman, Miriam College and Ateneo de Manila University. Just five minutes away from the LRT Santolan station, major shopping complexes such as SM City Marikina, Robinsons Mall and Araneta Center are very accessible via the LRT/MRT.
"We are here to offer the market the best mix in terms of price location and project features," Ignacio said.
The second FHI project is even more remarkable — First Homes Makati a 34-storey residential condominium situated at the corner of Chino Roces Avenue (formerly Pasong Tamo) and Malugay Street. First Homes Makati is just steps from Sen. Gil Puyat Avenue and minutes from Ayala Avenue. Aside from being in the heart of the country's foremost financial district, the project is also near major malls as well as schools such as the Centro Escolar University, Mapua Institute of Technology and Far Eastern University.
Perfect for young employees, working students, and newlywed couples, First Homes Makati features fully furnished and move-in ready two-bedroom and three-bedroom residential units. Amortization starts at an affordable P10, 000 a month for the two-bedroom unit and P17, 000 a month for the three-bedroom unit.
Ignacio said, "With First Homes projects, we intend to convince the market of the merits of buying a condo over renting. We also want to capitalize on the trend of homebuyers choosing condo ownership over buying a house and lot because of its accessibility to the work place and other most frequented places like malls".
www.firsthomes.com.ph
Martes, Enero 3, 2012
Booming Office Sector Spurs Growth of Cebu’s Residential Sector, CBRE Shares
Cebu, Philippines – Leading real estate services and advisory firm CB Richard Ellis Philippines (CBRE) is bullish on growth prospects for Metro Cebu’s real estate sector. Based on recent findings by CBRE, developments in the office sector—particularly with the growth of the outsourcing & off-shoring industry in Cebu, provided impetus for residential investments.
“Cebu is fast emerging as the preferred BPO and IT destination not only in the country, but also in Asia. This favourable business environment provides immense opportunities for growth in the residential market, and a synergy of opportunities across Cebu’s real estate sector,” said CBRE Philippines CEO and Chairman Rick Santos.
This uptrend is seen to be sustained as Cebu has one of the lowest rental rates in the Asia Pacific Region and with approximately 103,146 square meters of gross leasable area of office spaces in the pipeline.
This expansion in the office market is further driving residential condominium developments in Cebu. The influx of expatriates working in BPOs, business tourism, and subsequently, local demand has whetted the market’s appetite for high-rise dwellings and are observed to be moving closer from the fringe areas to Cebu’s business centers. The entry of major developers such as Ayala Land, Federal Land, Filinvest Land and Robinsons Land to in the Queen City of the South also reflects this strong demand. Increase in tourist arrivals and OFW remittances are seen to further support this demand for residential spaces.
www.cbre.com.ph
Megaworld launching 11 condo projects in first half
Megaworld Corp., the second-biggest property company in the country, plans to launch 11 residential projects in the first six months of the year in a bid to maintain its leadership as the country’s leading condominium builder.
“We at Megaworld aim to open the year 2012 on a strong note. We are set to launch 11 residential projects in the first half of 2012,” Megaworld senior vice president Francis Canuto in a statement said. Megaworld, meanwhile, has been ranked as the country’s top residential condominium developer, based on the latest study of CBRE Philippines.
The study cited the developer had cornered a 16-percent share of the market, which translates into more than 40,000 condominium units. In addition, the overall volume of units launched by Megaworld in the same 12-year period accounted an estimated total aggregate saleable area of about 1.9 million square meters, or 17 percent of the market. Colliers International earlier cited Megaworld as the no.1 residential developer based on the number of residential units completed and to be completed until 2016 and the total aggregate saleable area. Both CBRE Philippines and Colliers International are global companies that provide a roster of real estate services.
(Published in the Manila Standard Today newspaper on 2012/January/3.)
Lunes, Enero 2, 2012
Nursing graduate ventures into real estate development and makes it
He could have been a nurse.
But this nursing graduate saw his future in the real estate industry.
So Kaiser Christopher F. Tan ventured into the world of real estate development.
His path to success was a rollercoaster ride for him.
For one, his parents, who own a construction company, were against his decision.
Second, he thought he didn?t have enough capital to sustain the business then.
But his friends and what he called ?divine intervention? gave him his motivation to keep going and succeed.
Now, he is chief executive officer of Kaiser Estates, which has 11 projects in the cities of Mandaue, Cebu and Lapu-Lapu.
But this nursing graduate saw his future in the real estate industry.
So Kaiser Christopher F. Tan ventured into the world of real estate development.
His path to success was a rollercoaster ride for him.
For one, his parents, who own a construction company, were against his decision.
Second, he thought he didn?t have enough capital to sustain the business then.
But his friends and what he called ?divine intervention? gave him his motivation to keep going and succeed.
Now, he is chief executive officer of Kaiser Estates, which has 11 projects in the cities of Mandaue, Cebu and Lapu-Lapu.
Tan said he finished his nursing degree in 2008. After taking the board, he rested for there months.
Then he went to work in his father?s construction company, Tegrak Construction.
I found out that I wasn't so interested at doing the construction business and saw the real estate development more appealing,? he said.
And so I tried asking my dad for help. He didn't support me because he thought it was too risky. I was young and we don't have experience in real estate development. So he said no,? Tan said.
Still, Tan who is in his mid 20s, went on his own.
A friend, who was a bank manager, offered him a loan of P500,000 without any collateral to start his business.
I thought maybe this is a sign to pursue that dream,? said Tan.
I took the loan and separated myself from my parents, who were really very mad at me that time. We did not talk for about six months because of that decision,? he added.
SET UP FIRM
Tan named his firm, Kaiser Estates. His first project was Kim Rose Residences, which was named after his sister.
The apartment building project in barangay Guadalupe, Cebu City only had four units.
I got the lot on credit and loaned the materials for construction from my classmates who have hardware businesses. I have lots of classmates, maybe 10 out of 40 own a hardware,? said Tan.
He used the P500,000 loan to pay his laborers whom he also contacted himself.
I did everything then from designs concepts, logistics, marketing and sales. Everything. It was a one-man-show and I did meetings with clients just at the coffee shops because I still don't have my office,? he said.
Tan had a back-up plan in case everything fails: a teaching job at a review center that would pay him at P1,500 an hour.
I thought if my first business venture would fail, I could take that offer and pay my loan for 10 years, ? he said.
The day came when Tan only had a P100 bill in his pocket. He ended up giving his last money as a love offering when he was invited by a friend to attend a church gathering at the Waterfront Cebu City Hotel and Casino.
DIVINE HELP
I told God, this is everything I have now. I'll leave everything to you. The worst part is when I got down to the parking lot and I didn't have P30 to pay for the parking fee. And so I went back up and borrowed from a friend telling him that I left my wallet to make it less embarrassing for me,? Tan said.
What happened the next day made Tan realize that that he received what he called as divine intervention.
I got customers who already gave downpayments as much as P500,000 which I then used to develop more projects,? he said.
After that everything just went smoothly in place including (the situation with) my parents whom I have already resumed a good relationship with. I can't blame them though, they were just trying to protect me,? said Tan,
From a one-man show, Tan now 12 employees and at least 100 more under his own construction company.
He now has two companies ? Kaiser Estates and Kaiser Construction.
The Kaiser Construction takes care of building the units. Kaiser Estates is in charge of real estate development.
Next month, Tan will occupy a bigger office space in La Guardia, Lahug, Cebu City ? from a coffee shop where he used to hold office.
I'm also proud to say that I have already finished paying my loan within just a year,? he said.
PROJECTS
To date, Kaiser Estates has already 11 projects. These include Kim Rose Residences 2 at Andres Abellana St., Cebu City, Karl's Town at Jagobiao, Mandaue City, and Graceland 1 with 97 units at Brgy. Buaya, Mactan.
We will soon be launching two more projects which is Graceland 2 and Kim Rose 7,? he said.
Tan said he was looking into at low to middle-end projects, which he thought would be a big hit.
He said these projects could be their ?bread and butter.?
He could outsource some parts of the construction, develop condominium projects and a vacation village.
I see that in every development, there are only two major things to consider and that is the right place and the right price.?
Tan said he thinks they offer the best prices today because they do everything from conceptualization to construction which gives them a reasonable price.
I thought if my first business venture would fail, I could take that offer and pay my loan for 10 years, ? he said.
The day came when Tan only had a P100 bill in his pocket. He ended up giving his last money as a love offering when he was invited by a friend to attend a church gathering at the Waterfront Cebu City Hotel and Casino.
DIVINE HELP
I told God, this is everything I have now. I'll leave everything to you. The worst part is when I got down to the parking lot and I didn't have P30 to pay for the parking fee. And so I went back up and borrowed from a friend telling him that I left my wallet to make it less embarrassing for me,? Tan said.
What happened the next day made Tan realize that that he received what he called as divine intervention.
I got customers who already gave downpayments as much as P500,000 which I then used to develop more projects,? he said.
After that everything just went smoothly in place including (the situation with) my parents whom I have already resumed a good relationship with. I can't blame them though, they were just trying to protect me,? said Tan,
From a one-man show, Tan now 12 employees and at least 100 more under his own construction company.
He now has two companies ? Kaiser Estates and Kaiser Construction.
The Kaiser Construction takes care of building the units. Kaiser Estates is in charge of real estate development.
Next month, Tan will occupy a bigger office space in La Guardia, Lahug, Cebu City ? from a coffee shop where he used to hold office.
I'm also proud to say that I have already finished paying my loan within just a year,? he said.
PROJECTS
To date, Kaiser Estates has already 11 projects. These include Kim Rose Residences 2 at Andres Abellana St., Cebu City, Karl's Town at Jagobiao, Mandaue City, and Graceland 1 with 97 units at Brgy. Buaya, Mactan.
We will soon be launching two more projects which is Graceland 2 and Kim Rose 7,? he said.
Tan said he was looking into at low to middle-end projects, which he thought would be a big hit.
He said these projects could be their ?bread and butter.?
He could outsource some parts of the construction, develop condominium projects and a vacation village.
I see that in every development, there are only two major things to consider and that is the right place and the right price.?
Tan said he thinks they offer the best prices today because they do everything from conceptualization to construction which gives them a reasonable price.
Cebu economy in 2012: Business sees brighter picture
CEBU, Philippines - After failing to attain what had been a 'rosy' outlook for 2011, Cebu's business community is hoping to see the turn-around of the economy at the start of 2012.
This is, however, mainly hinged on what would happen to the economies of the United States and the European Union.
"If the government lets go of its spending in 2012, it could push more economic activities. What happened in 2011 was-money of the government intended to pump prime the economy was being held. And yet, Cebu in particular continued to hold its leadership in economic growth in the country," said Cebu Business Club (CBC) president Gordon Alan "Dondi" Joseph.
While the government's expected spending on infrastructure projects is seen to boost the country's economy in 2012, Joseph said Cebu may not be able to fully enjoy this "economic pump-priming" as most of the Private-Public Partnership (PPP) projects are to be implemented in Luzon area.
Although, there is continuous confidence and positive anticipation for 2012's entry to real "economic turn-around" specifically for Cebu, Philippine Retailers Association (PRA-Cebu) chairman Jay P. Aldeguer believes that economic growth is also threatened by calamities and many other factors.
According to Aldeguer, the tourism, real estate, and Business Process Outsourcing (BPO) sectors are still the "bread-winner" industries for Cebu in the "Year of the Dragon."
"We are expecting a better year for 2012, but also we are preparing for volatile growth because of the crises being faced by United States and Europe," said Cebu Chamber of Commerce and Industry (CCCI) president Samuel Chioson.
What is needed to push the gear to economic strength for Cebu in 2012, despite external threats, is to strengthen expertise in achieving "inclusive growth," that will not largely depend on external inflows, but growth derived from local industries such as tourism, Joseph said.
Department of Trade and Industry (DTI-7) regional director Asteria Caberte projected that employment opportunities for Cebu in 2012 will rise to its highest level, not only prompted by the new investments and expansion in the BPO industry, but also because of the anticipated transfer of some manufacturing companies from Thailand to the Philippines.
Caberte said, Cebu in particular has to prepare for the influx of manufacturing related investments by 2012 that would bring in more employment opportunities and additional economic activities.
"Thailand for now, can never be an option, and the Philippines is a better option for investors," said Caberte.
She added that although the Philippines still has to catch up in competing with other attractive investment destinations in manufacturing such as Vietnam, "we still have an edge over other countries."
The good business environment and the streamlining of business processes-which makes it easy for businessmen to transact business in the Philippines, are just among the few advantages that the Philippines has.
Aside from manufacturing investments, Caberte said tourism is also one of the direct beneficiaries of Thailand's problem as more tourists will reconsider their choice of vacation and leisure destination.
The garments, gifts, toys, and houseware as well as other manufacturing related sectors are seen to register good growth in 2012, she said.
Economist Bernardo M. Villegas, of the University of Asia & the Pacific (UA&P) believes that Cebu will gain further economic momentum in 2012 largely fueled by BPO, tourism, manufacturing, agri-business, creative industries, logistics, and others.
"Cebu is very lucky because it has a good mix of sunrise industries," the well known economist said referring to the good positioning of Cebu to thrive economically, amid the country's fragile economic condition.
Likewise, Cebu is seen to leverage on its four "Fs" strength -- food, fashion, furniture and fun -- which is closely linked with tourism and entertainment.
Exports, which used to be one of the region's "bread-winners" is still going to face challenging future-at least in the first few months in 2012.
"Exports will be very difficult, that is why most exporters are now shifting or diversifying into real estate," Villegas said.
Despite this bright outlook for Cebu, Villegas emphasized the threat that the province faces that could hamper its drive to achieve unprecedented growth in 2012. He said that the threat of power shortage should be addressed immediately and given utmost attention.
The reality now, Villegas said is a lot of companies and businesses are going out from Metro Manila, and consider in transferring elsewhere. One of the most attractive sites is Cebu.
Mandaue Chamber of Commerce and Industry (MCCI) president Eric N. Mendoza said the Cebu business community is anticipating for the big projects of the government and hopefully it could trickle help boost economic activities down in the Southern part of the country, Cebu included.
Although, there is a general positive outlook for 2012, with real estate expected to double its dynamism in Cebu, with the increasing flow of investments in BPO, and upbeat tourism figures, Mendoza said Cebu is still cautious of the possible effects of the economic downturn of the European zone, and the under-recovered US economy.
CCCI chairman for Information Communication Technology (ICT) Committee Jerry Rapes said BPO companies operating in Cebu are expected to hire more people in 2012, while new big names in world's BPO/IT and Knowledge Process Outsourcing (KPO) are looking at the province as top pick for an offshore site.
Cebu was declared by Tholons as an "Emerged BPO Destination in the World" 2011, but it needs to immediately address the manpower resource problem.
At present, the BPO/IT sector in Cebu is employing around 60,000 people. This number is seen to double or triple even within a year or two, if quality manpower is available.
CCCI past president Francis O. Monera also said that BPO industry will continue to propel Cebu's economy being one of the province's major economic drivers, and is poised to further improve the coming year/s.
"Demand for BPO services is expected to surge as more companies abroad seek to implement reduction of operational costs while aiming to achieve operational efficiency," said Monera, who is also the president of Cebu Holdings Inc. (CHI), the developer of Cebu Business Park and Asiatown IT Park.
Monera reported that in the Cebu Business Park and Asiatown IT Park, there are over 35,000 workers.
"This industry has indeed played a key role in employment generation. Plans are underway for us to start construction on a BPO building within Cebu Business Park, as well as the third sequel to the eBloc Tower within the I.T. Park."
With this development, Monera said, the players from the private sector, the academe and the local government have collaborated to improve human capital to increased the manpower pool via proficiency/certification, retraining, and jobs-skills matching programs. There are also intensified programs that support infrastructure and tourism service to strengthen the investment climate in Cebu.
Significantly, as Cebu sees tourism as its "star" economic driver for the province, Aldeguer, who also a tourism capitalist, said players in the sector are expecting that the new leadership of the Department of Tourism (DOT) would set the proper direction for the industry.
The Philippines, in general, according to Aldeguer, needs proper pushing and new DOT secretary Ramon Jimenez seemed to get what needs to be done.
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