News

Connectivity and convenience for investors and residents alike in ARCA South

Ayala Land, the country’s prime developer of sustainable estates, is currently developing a part of the old Food Terminal Incorporated (FTI) complex located along the East Service road of the South Luzon Expressway into a 74-hectare large-scale, master-planned, mixed-use premiere estate called ARCA South. This is after its successful transformation of a military training base headquarters...

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Taft Properties to enter hotel biz

TAFT Properties will soon enter the booming tourism industry as it plans to erect a hotel as part of the mixed-use project, Taft East Gate. Myra Lynn Gilig, vice president and deputy chief operating officer of Taft Properties, said they eye to partner with an international hotel brand to realize the company’s first venture in the hospitality business. “We do...

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Rockwell’s Mactan resort project posts ‘bullish’ sales take-up

PROPERTY developer Rockwell Land Corp. is seeing a bullish sales take-up for its P6.2 billion premier development, Aruga Resort and Residences - Mactan, in just 15 months. Weelisa Ang, sales manager at the Lopez Group company, told SunStar Cebu the project’s residential units are already 54 percent sold. “This is the first cluster. We have 276 units. We star...

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Cebu Landmasters to issue P2-B corporate notes

CEBU Landmasters, Inc. (CLI) is issuing corporate notes to raise P2 billion to fund its capital expenditures and general corporate expenses. The listed property developer said in a stock exchange disclosure yesterday it has signed a notes facility agreement with ALFM Peso Bond Fund, Inc. and ALFM Money Market Fund, Inc. for the 18-month debt security. The notes will have an initial fi...

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Sta. Lucia defers P8.4B follow-on offering

MANILA, Philippines – Property developer Sta. Lucia Land Inc. (SLI) has deferred a follow-on offering (FOO) or re-initial public offering of shares worth P8.4 billion, citing “volatile” market conditions. The decision to defer the FOO was made upon further consideration and extensive discussions between SLI and China Bank Capital, issue manager, underwriter and bookr...

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Mitsubishi eyes more collaboration with Ayala Group

MANILA, Philippines — Japan’s Mitsubishi Corp., is collaborating further with Ayala Corp. in the future even after reducing its stake in the Philippines’ oldest conglomerate. Mitsubishi has been a partner of Ayala since 1974, collaborating in various projects in the Philippines. The partnership is not likely to end, a representative from Mitsubishi said ove...

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