News

Robert Kuok’s Shang Properties posts 59% earnings rise in first half powered by condominium, mall, and hotel operations

Posted on Fri, Aug 18, 2023 3:41 PM by DR. SAMUEL O. LAO in Real Estate News

Billionaire Robert Kuok’s Shang Properties witnessed a 59% surge in net income for the first half of the year, propelled by solid revenue streams across its diverse operations including condominiums, malls, and hotels. The company’s net income from January to June stood at P2.4 billion compared to the previous year’s P1.5 billion. Shang Properties showed a 44% growth in tur...

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Lanson Place Mall of Asia, Manila:The Latest Addition to Pasay City’s Skyline Opening Soon

Posted on Mon, Jul 24, 2023 5:33 PM by DR. SAMUEL O. LAO in Real Estate News

MANILA, Philippines—A new era of hospitality is coming to the bustling area of Pasay City in the form of Lanson Place Mall of Asia, Manila. As part of the SM Hotels and Conventions Corp. (SMHCC) collaboration, Lanson Place Personal Hotels & Residences (Lanson Place) is finally bringing its expertise in personal hotels and serviced residences to Metro Manila. With an expanding array of...

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Cebu Landmasters to issue P2-B corporate notes

Posted on Tue, Oct 29, 2019 3:14 AM by DR. SAMUEL O. LAO in Real Estate News

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 fixed rate o...

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Singapore arbitral ruling: Bloomberry ordered to pay $296M to firm ousted from Solaire

Posted on Mon, Sep 30, 2019 11:58 AM by DR. SAMUEL O. LAO in Real Estate News

A Singapore-based arbitration court has ordered the Bloomberry group to pay $296 million to Las Vegas-based Global Gaming Philippines LLC (GGAM)/ The amount was for arbitral award in the case filed by GGAM which claimed that it had been unjustly booted out of the management of Solaire Resorts & Casino in 2013. Bloomberry, however, said it believed the final remedies award was “fund...

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120 International Hotels set to invest P23B in PH

Posted on Tue, Apr 2, 2019 3:13 AM by DR. SAMUEL O. LAO in Real Estate News

More than 100 international hotel chains are expected to invest over P23 billion in the Philippines in the next three years, according to the Philippine Franchise Association. “Based on our estimates, there will be additional of at least 23,000 new rooms in the next three years. These will be more of the international hotel chain franchises. About 120 hotels will be built in the next thre...

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