News

Megaworld expands in Cebu with launch of residential condo

MEGAWORLD CORP. is expanding its footprint in Cebu with the launching of a new residential development in its 30-hectare The Mactan Newtown in Lapu-Lapu City. In a statement yesterday, the Andrew L. Tan-led property developer said it is building a new 222-unit residential condominium which is expected to raise P2.3 billion in sales. The 20-story building, which will be called The Pearl Globa...

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DMCI, RLC team up for Las Piñas condo

CONSUNJI-LED DMCI Homes and Gokongwei-led Robinsons Land Corp. are teaming up for a three-building condominium project in Las Piñas City. In a statement, the real estate arm of listed DMCI Holdings, Inc. announced its joint venture with Robinsons Land to build Sonora Garden Residences, a condominium that promises a resort-living experience within the metro. The development will stand...

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Seda set to open 2nd hotel in Cebu

AYALA LAND, Inc. (ALI) is opening its second Cebu City hotel under the Seda brand in January 2020, amid growing demand from tourists and business travelers. Seda Central Bloc will rise within ALI Central Bloc community in the Cebu IT Park business district. The 17-storey hotel will have 214 rooms, including 48 serviced residences. In a statement, Andrea Mastellone, senior group general ma...

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Billionaire ramps up expansion of wellness resort in Batangas

LUXURY medical wellness resort The Farm at San Benito is constructing residential and retirement facilities on its 48-hectare property over the next three years. CG Hospitality Holdings Chairman Binod K. Chaudhary, a Nepalese tycoon who acquired The Farm on October 2018, is ramping up expansion of the resort and spa in Lipa, Batangas. “By end of 2020, our total inventory will be at lea...

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Arthaland targets to complete P60-B projects in two years

ARTHALAND Corp. is eyeing to complete P60-billion worth of projects within the next two years as it fills its pipeline with new development projects in Makati City, Cebu City and Biñan, Laguna. The niche property developer said in a briefing in Taguig City yesterday it is looking to launch at least one high-end residential project within the Makati central business district within the ye...

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Property price hikes pose rising risk to banks

PROPERTY PRICE hikes fueled by the Philippine offshore gaming operators (POGO) sector may pose increasing risks to the banking industry, according to Fitch Ratings. “Recent data point to speculative activity that could affect market stability if unchecked,” Fitch said in a note sent to reporters on Wednesday. “To the extent that the increase in prices has been driven by a b...

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