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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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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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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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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CEBU property developer Oakridge Realty Development Corp. (ORDC) opened on Dec. 9, 2019, a refurbished three-story Oakridge IT Center 1 (OITC 1) within Oakridge Business Park, bringing in more office spaces, including curated retail and dining options. The Philippine Economic Zone Authority (Peza)-registered OITC 1 adds another 4,300 square meters of leasable space within the park. The OITC 1 g...
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CEBU’s property boom isn’t showing signs of slowing down, thanks to the robust economy, which drives investments into the real estate business. The property sector remains one of Cebu’s stellar growth drivers in 2019, as residential, office and retail developments have sustained their growth momentum. Joey Bondoc, senior research manager at Colliers International, said Cebu...
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