2014: A multibillion-peso year
2014 was the year of building tall and building wide, on a scale of billions of pesos. As the country experienced sustained economic growth, so did the property sector’s builders, brokers and planners. Here’s a recap of the more notable news in property in 2014, as reported by this paper.
Inquirer Business reported on Jan. 10 that Metro Manila went up in the Asia-Pacific real estate survey.
As reported on Jan. 16, the merger that turned SM Prime Holdings Inc. into the largest property firm in Southeast Asia earned for the group of tycoon Henry Sy the “most innovative deal” award from Alpha Southeast Asia, a financial magazine based in Hong Kong. That day, Megaworld Corp. also made headlines when it sealed new deals in Cebu—including a joint venture to develop a beach resort—to expand its Mactan Newtown project by 12 hectares.
Featured on March 19, Paris Hilton graced the launch of the urban beach club she had designed in collaboration with Century Properties Group at the latter’s resort-themed residential community Azure in Parañaque City.
As March came to a close, the P1.4-billion Century City Mall formally opened.
Horse-racing operator Philippine Racing Club Inc. teamed up with property developer Sta. Lucia Inc. on a 53.7-hectare residential subdivision project in Cebu, as revealed by Inquirer Business on April 3.
On April 16, SM Prime Holdings was reported to invest at least P400 billion to further scale up its businesses in the Philippines and mainland China.
On Labor Day, it was reported that Alphaland sold its 20-percent stake in the upcoming Shangri-La complex in Bonifacio Global City to the Shang Properties Inc. for a total cash consideration of P1.7 billion.
On May 9, Ayala Land was reported to invest P80 billion for Arca South.
On May 31, news came out that Avida Land bagged four awards at the recently concluded Asia Pacific Property Awards 2014-2015.
On July 8, the story came out that Megaworld would be investing P45 billion into the 34.5-hectare former Jusmag property in Fort Bonifacio, now called “McKinley West.”
On Aug. 30, it was reported that Ayala Land was named best developer during the second annual Philippine Property Awards held at the Fairmont and Raffles Makati. Property tycoon Dr. Andrew L. Tan was chosen by the editors of Ensign Media’s Property Report magazine as the Philippines’ Real Estate Personality of the Year.
Megaworld was reported on Sept. 17 to break into industrial estate development by investing an initial P5 billion in a 200-hectare industrial park in Tanza, Cavite.
Inquirer Business reported on Sept. 23 that Vista Land & Lifescapes launched a new residential tower on Taft Avenue, from which it expected to sell P1.7 billion worth of units.
On Sept. 24, it was reported that Ayala Land would invest P75 billion to develop a 1,100-hectare community in Porac, Pampanga, which would take 20 years to complete.
On Sept. 27, it was reported that Robinsons Land Corp. would build the grade-A Tera Tower registered under the Leadership in Energy and Environment Design (LEED) green building program, inside its upcoming mixed-use complex in Quezon City.
Bangko Sentral ng Pilipinas data showed that real estate loans rose by 6.6 percent to P924.32 billion at the end of June versus March’s P866.62 billion, as reported on Sept. 27.
The Philippine government would stand to lose as much as P12 billion if the state-run Bases Conversion and Development Authority proceeds with the conduct of a Swiss challenge for the development of the 33.1-hectare Bonifacio South Pointe property in Taguig, as reported by Inquirer Business on Oct. 1.
Theodore Chan, president of the Singapore Institute of Architects and the director of CIAP Architects Pte. Ltd. revealed to Inquirer Property on Oct. 4 that Filipinos were the most-sought-after architects in Singapore.
Inquirer Business reported on Oct. 10 that Ayala Land has brought to the property market P20 billion worth of new residential inventory catering to the luxury segment in two high-rise developments rising in Makati and Bonifacio Global City.
On Oct. 22, it was reported that Robinsons Land set aside P15 to P17 billion for capital spending next year, mainly to build new shopping malls and expand some of its existing hubs.
In a Nov. 13 report, 8990 Holdings Inc. plans to sell P1.15 billion worth of residential units at Urban Deca Towers in Mandaluyong, the first and only low-cost high-rise condominium project in Metro Manila that offers units priced at less than P1 million.
Also on Nov 13, Inquirer Business reported that Vista Land & Lifescapes Inc. grew its nine-month net profit by 12 percent year on year to P4.2 billion, backed by a double-digit expansion in revenues from core housing products.
Inquirer Property on Nov 15 reported central business district Pueblo de Panay will rise as an ecologically responsible residential, commercial and industrial center in Panay, Roxas City.
In a Nov. 27 report, SM Prime Holdings raised P18 billion from its share sale. Part of the proceeds would be used by SMPH to fund its investment in OCLP Holdings Inc., the holding company of Ortigas & Co.
