News

Citadines Amigo Iloilo opens

CAPITALAND and subsidiary The Ascott Limited is bringing the serviced residence concept to Iloilo City with the opening of the Citadines Amigo. Citadines Amigo Iloilo, the first international serviced residence in the city, is hoping to attract travellers and long-staying businessmen. It has 121 rooms, a fitness center, function rooms, swimming pool, and all- day dining restaurant. “We...

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Megaworld opens first Savoy hotel in Mactan

CEBU, Philippines — Property giant Megaworld Corporation opened its first hotel facility in Cebu, the 547-room Savoy Hotel Mactan Newtown, in Lapu-Lapu City. The 18-storey hotel located within the 30-hectare Mactan Newtown is the first hotel to open inside the township. Savoy Hotel Mactan Newtown is so far the biggest hotel in terms of number of rooms in Mactan Island and the second bi...

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Megaworld targets P2.5-billion sales from village development in Trece Martires

MEGAWORLD Corp. on Wednesday said it is expected to generate some  P2.5 billion in sales from this first residential project inside Arden Botanical Estate in Trece Martires in Cavite. The village is expected for completion in 2024.  Lot prices in Arden Botanical Village range from P18,000 to P22,000 per square meter. The 18-hectare village forms part of the 251-hectare Ar...

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Ayala Corp. investing $237.5M in Myanmar conglomerate Yoma Group

MANILA, Philippines — Ayala Corp. is taking a $237.5 million stake in the Pun family’s Yoma Group, marking the largest Philippine conglomerate investment in Myanmar. Ayala said in a stock exchange filing on Thursday that the deal will give it 20 percent of the Myanmar conglomerate, which is comprised of two holding companies: Singapore-listed Yoma Strategic Holdings Ltd. (YSH) and M...

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DMCI nets P2.8 billion in Q3

DMCI Holdings, Inc. on Wednesday said it booked a net income of P2.8 billion in the third quarter, 47% higher year-on-year, which was attributed to “normalized coal operations” of Semirara Mining and Power Corp. (SMPC). In a statement, DMCI said core earnings in the third quarter went up 24% to P2.6 billion, excluding the P164-million non-recurring loss from the company’s shar...

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Megaworld Q3 profit up 11%

MEGAWORLD Corp. recorded an 11% rise in earnings in the third quarter, as it sustained growth across its business segments. In a regulatory filing, the listed property developer led by tycoon Andrew L. Tan said its attributable net income reached P4.49 billion in the July to September period, driven by a 15% increase in consolidated revenues to P16.4 billion. Expenses, on the other hand, grew 1...

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