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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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 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 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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