Century Properties net profit up 10%
Property developer Century Properties Group Inc. posted a 10-percent growth in first-quarter net profit to P501 million on higher revenues and margins.
Property developer Century Properties Group Inc. posted a 10-percent growth in first-quarter net profit to P501 million on higher revenues and margins.
It was possible that the BCDA might be acting on its own last week when—using security men carrying “high-caliber” weapons, according to one report—the BCDA singlehandedly waylaid a huge property project at the 240-hectare booming BGC, or Bonifacio Global City, in Taguig.
The first half half of the year will be over in a month. Following a generally orderly May 13 national elections, favorable international credit ratings and property experts’ assessments have shown the property sector is flourishing.
Singaporeans readily acknowledge that they have three kinds of weather: hot, hotter and tropical. In the Philippines, we have only two kinds: dry and wet. During the dry season, temperatures and humidity go up. During the wet season, people deal with torrential rains and destructive floods.
Tycoon Andrew Tan-led Alliance Global Group Inc. grew its first-quarter net profit by 18 percent year on year to P4.91 billion on higher earnings chalked up by its property development, gaming and beverage businesses.
Boss, we have a problem: The government-run Development Bank of the Philippines seems to be going out of kilter, appallingly lagging in profitability behind other banks, including another government bank, the Land Bank of the Philippines.
The Department of Finance is batting for the removal of mass housing projects in the latest of the annual Investment Priorities Plan (IPP), saying that its continued inclusion on the list of tax perk beneficiaries poses an “administrative nightmare.”
Property giant Ayala Land Inc. (ALI) has unveiled its sixth series of Homestarter bonds worth P2 billion, targeting retail investors who wish to set aside funds that may be used as full or partial downpayment for the purchase of an Ayala Land property.
Standard & Poor’s has warned that the Philippines faced risks of overheating that could materialize unless surging foreign capital inflows were properly managed.
Responding to concerns that tightening real-estate regulations in neighboring economies could be pushing speculative demand to the Philippines, the Bangko Sentral ng Pilipinas said a new directive further limiting the exposure of banks to the property sector was being readied.
Good times are rolling for the Philippines’ real estate sector and thus the selling is easy for companies such as Empire East Land Holdings Inc., the listed subsidiary of real estate giant Megaworld Corp. servicing the burgeoning middle class.
Originally planned to be a 65-story residential building, Century Properties’ The Gramercy Residences’ topmost floor was completed in February 2011. Then standing at more than 70 stories, it was at the time touted to be the country’s tallest building. Launched in 2007, Gramercy, which is located along Kalayaan Avenue in Makati City, was the first residential tower at the 3.4-hectare Century City.
