Vatics Real Estate

Budget hotel expands to meet demand

Richard Batiquin — Tue, 16 Mar 2010 21:33:00 GMT

CEBU, Philippines - In order to cash in on the growing number of tourists in Cebu, a neophyte hotel chain plans to build 100 additional rooms by yearend and another 160 in the next year.

Gran Prix Hotel and Suites president and chief executive, Jan Keirulf, revealed that construction for a 100-room hotel will soon be started in uptown Cebu, once negotiations with the chain’s local partner is finalized.

“The growth area is Cebu. Statistically, Cebu is the number one destination in the country,” said Keirulf. “In our initial assessment we found out that Cebu still needs more rooms, the reason why we plan to expand especially in high visibility areas.”

“We invest heavily in proven destinations that have been heavily marketed worldwide,” he said, adding that this is also one of the reasons why they are planning to put more investments in the city.

Keirulf said that since travel has become a regular part in the life of every Filipino, the demand for accommodations and other tourist amenities also grows.

“There are no more seasons in travelling now. The demand is there, and so far, we have not really experienced a slow season especially in Cebu,” he said.

“Currently we are expanding our existing sites like in Malate were we are adding 40 more rooms,” he said.

He also revealed that the chain is focusing on gateway locations, or places where travelers are bound to pass en route to other locations.

Value added package

He said that in order to compete in the market, the hotel is banking on the added value package that he claims will make the experience of the traveler “seamless from house to hotel.”

“We have created a package that people would really need, which is sometimes overlooked by the hospitality industry,” he said.

One of these, Keirulf revealed, is the Early Check-In and Late Check-Out arrangement, relating it to his experience where he would arrive in a destination early but unable to check-in until 2 p.m. or even to check out late without being charged extra.

“It’s about the total value added package,” he said.

A Filipino brand, Gran Prix started its operations in 2006. Today it has branches in Manila, Cebu City, Quezon City, Pasay City, Tarlac City, and Boracay. It also plans to open branches in Cagayan de Oro City and Tacloban City, and currently has inquiries for possible expansion in Vietnam.— Ritche T. Salgado (The Freeman, March 16, 2010 issue)

Cebu City Council set to double SRP lot prices

Richard Batiquin — Tue, 16 Mar 2010 21:22:00 GMT

CEBU CITY, March 16 (PNA) - The Cebu City Council is set to approve a resolution doubling the prices of lots at the South Road Properties (SRP) from a minimum price of P8,000 per square meter to P16,000.

Cebu City Councilor Jose Daluz III said there is a need to raise lot prices since ongoing developments there have increased the value of the property.

Earlier, the Cebu City Appraisal Committee re-appraised the SRP lots and passed a resolution increasing the price of interior lots from P8,000 to P16,000, and the lots along the Cebu South Coastal Road from P11,000 to P22,000.

Daluz sought to raise the rates, believing that the value of the lots rose after Filinvest Land Inc. and SM Prime Holdings Inc. bought large portions of the SRP, with plans to start development by May.

“The sale and rental of SRP lots to prominent locators, like the SM Prime and Filinvest, and the corresponding ongoing and prospective development of the sites have enhanced the development of the whole property, increasing its valuation and marketability,” he said.

Cebu City Mayor Tomas Osmeña first announced the increase of lot prices when the city closed the sale of a 30-hectare area with SM Prime last January.

Daluz expects the resolution to be approved without delay, as the new rates will be to the city’s advantage.

The city will not have to get any clearance from the Commission on Audit (COA), although it will need to get the agency’s approval when it sells other SRP lots using the new rates.

“We are the owner of the property and as the owner it’s the city that will decide on the price. There is no ceiling as to how high the lot prices can be. The only rule is that we don’t go below the rates approved by COA earlier,” said Daluz.

If the resolution is approved, lots located within 80 meters from both sides of the south coastal road and the Mambaling access road will cost P22,000 per square meter. These lots are considered prime properties.

All other lots outside seafront Pond F and the 80-meter area from the coastal and access roads are considered non-prime properties and will be sold at a minimum price of P16,000 per square meter.

With 10.6 hectares sold to Filinvest, 30 hectares sold to SM Prime and another 40 hectares set aside for the city’s joint venture with Filinvest, the city still has 160 hectares of disposable land at the SRP.

In May 2008, COA appraised interior lots at P7,100 per square meter and prime lots along the coastal road at P9,200 per square meter. Pond F lots were appraised at P11,400.

The appraisal was based on the average values of schedule market data, the Bureau of Internal Revenue zonal valuation and opinions of private appraisers. (PNA)

Cebu mango processing plant gets P4.3-M Japanese assistance

Richard Batiquin — Fri, 12 Mar 2010 09:18:00 GMT

MANILA, March 11 (PNA) — Cebu-based Southern Partners and Fair Trade Center, Inc. (SPFTC) recently signed a grant contract with the Japanese government to upgrade its mango processing facilities and provide new equipments for its plant in Naga City in Cebu province.

SPFTC Managing Director Geraldine M. Labradores and Ambassador Makoto Katsura signed the agreement Wednesday at the Japanese embassy in Manila.

The project, valued at USD93,910 (about P4.3 million), will be funded through Japan’s Grant Assistance for Grassroots Human Security Projects (GGP).

Philippine annual revenues from the mango industry amounts to about U.S.D1,400 million. Yet, small mango farmers, who are directly involved in mango production, have not fully benefited from the scale of the industry.

SPFTC built the fruit processing plant in Naga City to serve as a direct link between producers and consumers.

The SPFTC advances the fair trade practice by purchasing farm products at fair prices and delivers quality products to consumers.

Their activities have contributed to income increase of small farmers. However, due to the capacity limitation of the equipment they own, only limited amounts of fruit can be processed per day.

With the grant assistance, the SPFTC will purchase a new fruit dehydrator that has a larger capacity and two burner stoves that can also contribute to the improvement of productivity of mangoes —one of Cebu’s major products.

A haul truck will also be provided. Hygiene and sanitary condition of the plant will also be strengthened with new stainless steel basins and cooking vats to be purchased under the grant.

The Naga plant will also be improved to increase efficiency and productivity by having roofs insulated, drainage reconstructed and floor tiled.

SPFTC expects increased productivity would also increase the incomes of about 450 small farmers.(PNA)

Metro Cebu has enough water supply for its 2-M users till June–MCWD

Richard Batiquin — Fri, 12 Mar 2010 09:14:00 GMT

THE water distribution utility serving Metro Cebu assured its customers that there is enough water for its 2 million residents during the expected long dry spell and the supply will last until the scheduled rainy season in June.

Metropolitan Cebu Water District (MCWD) production and distribution chief Genaro Mejor said there is no need for water rationing in their franchise area as of yet. However, he explained there will be lesser delivery hours and lower pressure in some districts as the dry spell takes its effect on the supply.

“We have anticipated the problem and, thankfully, we were able to augment the supply just before the dry spell,” Mejor said.

But he added that instead of a daily average of 22.5 hours of water for its franchise areas, they estimate the number will go down to 21 hours per day as the water supply needs to be distributed to more customers.

The Buhisan Dam in Cebu City already has signs of drying up, but Mejor said the facility, built in the early 1900s, supplies just a small portion of the water supply of the metropolis. Most of the supply of MCWD is still taken from underground wells.

The MCWD’s biggest water well field in Jaclupan in Talisay City cut production by more than half from an average of 45,000 cubic meters a day to just 18,000 cubic meters in March. MCWD was able to open more wells and commissioned several private bulk-water suppliers to augment the supply.

Early this year MCWD added more than 4,500 cubic meters of supply from several wells in the south district of the city and bulk-water suppliers with injection areas in the north.

Mejor said more wells will be opened in the summer, while existing bulk-water suppliers said they can increase their volume by up to 25 percent.

But while the hot summer months will not pose problems for existing MCWD consumers, the water district itself admits they are facing bigger long-term problems. The utility admits to servicing only 55 percent of its service area either because of shortage of supply or lack of infrastructure to bring water to more people.

MCWD serves more than 130,000 customers in Metro Cebu and produces some 160,000 cubic meters of water daily, but this still falls short to fulfill the pent-up demand—potential customers who have pending applications for water lines, but could not be served.

“Our priority is to provide the best service to our existing customers,” Genaro said.

With Cebu not having enough big bodies of inland water like lakes and rivers, most of Metro Cebu’s water is sourced from underground wells. Pollution and overextraction, however, forced MCWD to close some of the wells as contaminants and sea water have found their way into the water sources.

MCWD recently signed a huge 20,000-cubic-meter bulk-water supply deal with the city of Danao in the north, which should secure the water supply in the city for the next several years. Source

Landco, Cebu firm terminate joint venture

Richard Batiquin — Fri, 12 Mar 2010 07:17:00 GMT

CEBU CITY -- Landco Pacific Corp. and neophyte Cebu developer Genvi Development Corp. have terminated their joint venture agreement for the development of a P5-billion hillside residential resort here. Genvi Development, controlled by the Villalon family which also owns the 210-hectare property that is being developed, will invest about P300 million in the project over the next 30 months. Part of this will be financed by loans from four banks that have signified interest to fund the project, said Genvi Development Managing Director Dindo Perez. “We’re looking at May for the first tranche [of the loan],” Mr. Perez said shortly after Genvi Development President Augusto Villalon made the announcement yesterday afternoon. Mr. Perez said Landco and Genvi Development signed the termination of the joint venture agreement on Feb. 12, about three months since the two companies started negotiations. A notice on the termination of the agreement has been filed with the Housing and Land Use Regulatory Board. Mr. Perez said “it was an amicable termination” and Landco was compensated for the development costs it had incurred since the project was launched in December 2006. He declined to specify the amount. The project, dubbed Monterrazas de Cebu, would have been Landco’s first in the Visayas. The project has encountered several delays because of drainage problems and changes in Landco’s ownership. Then parent firm Metro Pacific Investments Corp. last year reduced its stake in Landco to 34% and sold a portion of its shares to AB Holdings Corp. of Landco President Alfred Xerez-Burgos, Jr. No Landco representative was present during the announcement yesterday. Marga Villalon, Genvi Development vice-president and treasurer, said her firm was excited to take over the project, intent on raising the bar for property development in Cebu. “We are laying our company on the line here by saying we are capable of doing it. Ultimately, this is a Cebuano project,” she said. Mr. Villalon, for his part, said his group would make up for lost time and stick to the original development timetable. Horizontal development of the first phase, which consists of two clusters of lots with a total size of about 74 hectares, is ongoing and will be completed in three years. “But by the end of this year, some lot owners can already start the construction of their houses,” he said. An architect himself, Mr. Villalon designed the entrance complex to the project as well as a pavilion. The entire 210-hectare property, which spreads over eight hills in five barangays in the middle of Cebu City, will be developed into 10 clusters of lots by phases over the next 10 to 15 years. A five-hectare block has been designated for condominium buildings. Other planned developments are townhouses, commercial and lifestyle areas, and cluster enclaves for families and friends that would like their own private compounds. -- Marites S. Villamor

Homeowners, Homeowners Associations' Rights Protected in Magna Carta - Zubiri

Richard Batiquin — Tue, 23 Feb 2010 14:31:00 GMT

"The rights of homeowners and homeowners associations are well-protected and will cut conflicts now experienced in many communities with the enactment of the Magna Carta for Homeowners and Homeowners Associations or Republic Act 9904," according to its main author Senate Majority Leader Juan Miguel F. Zubiri.

"In very clear and specific language the law laid down the rights and responsibilities of homeowners and the guidelines on the operations of homeowners associations," said Zubiri, past chairman of the Committee on Housing, Urban Planning and Resettlement now chaired by Senator Rodolfo Biazon.

"From now on, homeowners and homeowners association members will be supported by the law's clear provisions and guidelines ensuring their right to avail of basic community services and facilities due them. There will be less frustrations on both sectors."

"The Magna Carta will be the vehicle to bring peace and comfortable living conditions in many communities," he said.

"This law will benefit all homeowners from the different socio-economic classes. We made sure that the benefits will be encompassing. Homeowners are defined as 'not only those living in titled homes and lots in subdivisions but to lessees, awardees, beneficiaries, or occupants in government socialized or economic housing or relocation projects, and even underprivileged and homeless citizens while they are in the process of being accredited as beneficiaries or awardees of ownership rights under the CMP, LTA, and other similar programs.' "

Zubiri clarified that "contrary to earlier perceptions, this law was not made for rich residents of gated subdivisions only. Lessees in government socialized housing projects or urban estates and those in communities of underprivileged and homeless citizens are also considered as homeowners for the purpose of qualifying as a member of a homeowners' association without need of any written consent or authorization."

"We tried our best not to leave gray areas to prevent conflicts and confusion." Zubiri said the rights and benefits of homeowners, both members and non-members of homeowners associations, are enumerated in the law. The rights of a member are as follows: "(1) to avail of and enjoy all basic community services and the use of common areas and facilities; (2) to inspect association books and records during office hours and to be provided upon request with annual reports, including financial statements; (3) to participate, vote and be eligible for any elective or appointive office of the association subject to the qualifications as provided for in the bylaws; (4) to demand and promptly receive deposits required by the association as soon as the condition for the deposit has been complied with or the period has expired; (5) to participate in association meetings, elections and referenda, as long as his/her bonafide membership subsists."

On the other hand, members have the following duties: "(1) to pay membership fees, dues and special assessments; (2) to attend meetings of the association; and (3) to support and participate in projects and activities of the association." The bylaws shall contain the definition and procedure of determining who are delinquent and administrative sanctions even as it guarantees their right to due process.

The rights and powers of the association are provided for, such as:

"- regulate the use, maintenance, repair, replacement and modification and modification of common areas and cause additional improvements to be made part of the common areas: Provided, That the aforementioned do not contradict the provisions of the approved subdivision plan;

- regulate access to, or passage through the subdivision/village roads for purposes of preserving privacy, tranquility, internal security, safety and traffic order;

- ensure the availability of quality water services at a reasonable price and, at its option, administer and manage the waterworks system of the subdivision;

- impose or collect reasonable fees for the use of open spaces, facilities and services of the association to defray necessary operational expenses, subject to the limitations and conditions imposed under the law, the regulations of the board and the association's bylaws;

- subject to consultation and with the approval of a simple majority of the association members, allow the establishment of certain institutions such as, but not limited to, schools, hospitals, markets, grocery stores and other similar establishments that will necessarily affect the character of the subdivision/village in terms of traffic generation, and/or opening the area to outsiders � Provided, That such prior approval shall not be necessary for the establishment of sari-sari stores; and,

- suspend privileges of and services to and/or impose sanctions upon its members for violations and/or noncompliance with the association's bylaws, rules and regulations," among others.

Zubiri also stressed that the Magna Carta strengthens the accountability of association directors, trustees and Board. "Through a signed petition of a simple majority of the association members in good standing, subject to verification and validation of the HLURB, a director/trustee may be removed for causes provided in the bylaws of the association: Provided, That if a majority of the members of the board is removed, it shall be considered a dissolution of the entire board, in which case, Section 14 hereof shall govern. a signed petition of two-thirds (2/3) of the association members subject to verification and validation of the HLURB, the board of the association may be dissolved for causes provided in the bylaws of the association."

"Until the new board members shall have been elected and qualified, the HLURB shall designate an interim board: Provided, That, such board shall be composed of association members in good standing: Provided, further, That such interim board members shall not be eligible to run in the election called for the purpose of replacing the members of the dissolved board."

The Magna Carta also provided for the duties and responsibilities of the HLURB. Among which are as follows: "Regularly conduct free orientation for officers of homeowners' associations or deputize another competent agency to conduct the orientation; Formulate and publish a Code of Ethics and Ethical Standards for board members detailing prohibited conflicts of interest; Hear and decide intra and/or inter-association controversies and/or conflicts, without prejudice to filing civil and criminal cases by the parties concerned before the regular courts: Provided, That all decisions of the HLURB are appealable directly to the Court of Appeals."

The HLURB is also authorized to ask the assistance of the Philippine National Police and other law enforcement agencies and instrumentalities of the government if necessary to rightfully enforce its functions.

Zubiri stressed the Magna Carta would "hopefully put an end to the confusion on where to register homeowners' associations. All homeowners' association shall register with the Housing and Land Use Regulatory Board (HLURB), instead of listing with the Securities and Exchange Commission (SEC). This will immediately lessen future conflicts and unify fractured homeowners belonging to different associations in one community."

He explained that while existing associations previously registered with the Home Insurance Guarantee Corporation (HIGC) or SEC would still be recognized, the associations could opt to register anew to the HLURB without penalty after the law becomes effective.

As to the activities of local governments such as zone reclassification, the law mandates the LGU to first get the consent of the homeowners in the area targeted for reclassification before these are undertaken.

The Magna Carta also provided for prohibited acts, among them: To deprive any homeowner of his/her right to avail of or enjoy basic community services and facilities where he/she has paid the dues, charges and other fees for such services; To prevent any member in good standing from participating in association meetings, elections and referenda. Violations of the Magna Carta shall be punished with a fine of not less than P5,000 but not more than P50,000 and permanent disqualification from being elected or appointed as members of the board, officer or employee of the association.

Zubiri turned over a signed copy of the Magna Carta for Homeowners and Homeowners Associations in simple ceremony at the Senate of the Philippines. Homeowners and homeowners associations were in attendance, among them Danilo Mendoza representing Alliance of Quezon City Homeowners Association; Bonifacio Dazo, Federation of Las Piñas Village Associations; Atty. Mario Jalandoni, FORA; and Atty. Ed Magpantay, Parañaque Federation of Homeowners Associations.

The turn-over was witnessed by the Housing and Land Use Regulatory Board represented by Romulo Fabul, HLURB Commissioner. The Village Voice, a community paper in Makati City the Village Voice also sent their representative Sigmund Tesorero,Ms. Nelia Estrevencion of SSANGKAP and Marie Allanosa also of the Federation of Las Pinas Village Association, Mr. Anto Ocampo, and Ms. Andrea Rebustillo, Manolo Dayrit.

Press Release [ Senate of the Philippines ] January 13, 2010

BIR eyes P10.7 billion from real estate tax collections

Richard Batiquin — Tue, 23 Feb 2010 12:13:00 GMT

MANILA, Philippines - The Bureau of Internal Revenue (BIR), the government’s main revenue earner, expects to raise P10.7 billion from its so-called Project Rest In Peace (RIP) which intends to step up collections from estate taxes.

BIR Commissioner Joel L. Tan-Torres said as another measure to boost collections, the agency would increase the awareness of the public on the proper payment of estate taxes.

Project RIP is intended to let the legal heirs know that after the death of a loved one, follows the responsibility to comply with the laws of the government, he said.

Through the project, the agency will monitor proper payment of the estate tax which the BIR for so many years has not given much attention to.

Citing data gathered from the National Statistics Office, the BIR said there were 403,191 number of deaths in 2004; 415,271 in 2005; and 389,081 in 2006.

However, based on BIR records, only 29,198 estate tax returns were filed in 2007; 29,863 in 2008; and 26,811 in 2009.

This statistics revealed a very low number of estate tax returns filed. Collections amounted to P649.9 million in 2007, P854.9 million in 2008 and P876.8 million in 2009.

“From the statistics gathered, it clearly indicates that there is a large potential to increase the number of estate tax returns filed, once these tax potentials are tapped. Once we implement this project, we can target to increase tax return filing to 250,000 that can generate more than P10 billion in estate tax collection,” Tan-Torres said.

The BIR chief said through the issuance of Revenue Memorandum Order 10-2010, the BIR shall undertake courses of action to closely monitor potential estate tax cases such as establishing linkages with public and private institutions to access information about the decedent, communicate with the administrator or the decedent’s family the need to file the estate tax return and to conduct a public awareness campaign on Project RIP.

As provided for in the RMO, the Revenue District Office (RDO) shall be responsible for the pro-active monitoring of these cases by making linkages with civil registers, hospitals, memorial parks, cemeteries, funeral parlors, crematoriums, judicial clerks of courts, obituaries, life insurance companies and other financial institutions, to access and secure records of the decedents. All information gathered shall be submitted to the Audit Information Tax Exemption and Incentives Division (AITEID) for centralized data warehousing.

The RDO having jurisdiction over the decedent’s principal residence shall send notification letter to the decedent’s family informing them of the requirements and due dates for filing of notice of death, estate tax return and payment of estate tax.

If the decedent’s family failed to comply with their obligation in filing the said return and in paying the said tax, the RDO shall undertake the necessary action to determine the estate tax obligation of the decedent and to protect the interest of the bureau.

The BIR’s National Investigation Division is tasked to track obituaries in the newspaper. It would also prepare a list of names of the decedents with complete information and determining who among in the list are the “high potential” cases, which have substantial properties and potential for substantial estate tax payments.

The BIR is tasked to collect P830 billion this year, lower than the initial revenue goal of P875 billion. In 2009, the BIR collected P744.9 billion or P53.1 billion short of the revised target for last year of P798 billion. By Iris C. Gonzales (The Philippine Star) Updated February 11, 2010 12:00 AM

iMax to finally hit Cebu this summer

Richard Batiquin — Fri, 19 Feb 2010 07:10:00 GMT

CEBU, Philippines - Whether the Cebu market is ready or not, SM City Cebu is bent on bringing in the iMax technology here this summer.

Marissa Fernan SM Prime Holdings vice president for Visayas and Mindanao said that the mall has readied the Cinema 4 facility, to offer the iMax experience for the Cebuano market, accommodating a total seat of 500 people.

IMAX Corporation (IMAX), is one of the world's leading entertainment technology companies, with particular emphasis on film and digital imaging technologies including 3D, post-production and digital projection.

“iMax is the wave of the future. We will build it and they will come. We owe to customers to show them the best,” Fernan said confident that the Cebu market will embrace the iMax technology, although it is more expensive than the traditional movie experience.

According to Fernan, SM Mall’s vision is to establish iMax technology in every mall, following the success of iMax theater located in Mall of Asia in Manila, which was opened some few years ago.

Besides, she said the trend now in movies is going 3D. While a lot of movie productions are available in 3D technology already.

iMAX was founded in 1967 and headquartered jointly in New York City and Toronto, Canada, it is a fully-integrated, out-of-home entertainment enterprise with activities ranging from the design, leasing, marketing, maintenance, and operation of iMAX theatre systems to film development, production, post-production and distribution of large-format films.

Mall of Asia pioneered the introduction of the iMAX technology in the Philippines some few years back.

SM Prime Holdings, Inc. (SMPH) the company that operates SM malls across the country, has built an iMAX theater facility inside the 4,000 square-meter Mall of Asia, in Metro Manila, providing a new movie entertainment experience for Filipinos.

Although the investment of this high-end theater technology is 10 times expensive than setting up a one traditional movie theater, the first iMax facility in the Philippines’ is being supported by San Miguel Corporation, and Coca Cola Bottlers Philippines, in order to charge affordable tickets for the Filipino market.

SMPH has inked a partnership deal with iMAX Corporation in this offering.

The iMAX Theatre Network currently consists of more than 250 iMAX affiliated theatres in 36 countries. Approximately 60 percent of the theatres are located in North America, while the remaining 40 percent are spread internationally.

Roughly 50 percent of the theatres are located in institutional venues, such as museums, planetariums, and maritime centers, while the other half is part of commercial theatre complexes. More than 100 of these theatres are equipped with iMAX 3D technology.

The Philippines’ iMAX at Mall of Asia has the largest screen compared to other similar facilities around the world. Mall of Asia’s iMAX screens is a 22 x 30 meters—approximately the height of an eight-storey building and accommodates 600 people seating capacity.

In Cebu, the upcoming movie "Shrek" will officially open the Cebu iMax facility this summer 2010, Fernan said. - Ehda M. Dagooc / The Freeman, February 19, 2010

Exporter launches real estate project

Richard Batiquin — Wed, 10 Feb 2010 14:16:00 GMT

A successful exporter of processed tropical fruit products has just launched his first commercial property development in Mandaue City.

Justin Uy of Everjust Realty and Development Corp., who also owns Profood International Corp., said he decided to put up the establishment on A.S. Fortuna Street in Mandaue City because he saw the potential of the area.

“The area is like an accessway from the airport to other areas and if you go to Banilad area, it is very congested already. The reclamation area already has malls so we see great potential for this property,” Uy said during the groundbreaking ceremony of JMall held yesterday in what used to be the site of the Royal Match Compound.

According to Uy, JMall will be a mixed use commercial property that will house a three-storey mall, an office space for call centers, and two towers for a hotel and an apartelle or condominium building.

“The land area of the whole property is at 3.2 hectares. This is a five-year project: two years will be dedicated for building the mall or phase one, and the remaining three years will be for the hotel and apartelle. However these plans might still change, especially the hotel which is dependent on tourist visits.”

The lot area for Phase 1 covers 92,000 square meters with 7,000 square meters area dedicated to SM Hypermart which will be their anchor tenant. “There will be about a hectare floor area dedicated for call center office space that is right on top of SM Hypermart or the second level of the building.”

According to Uy, they are already negotaiting with call center companies both existing in Cebu and new players who only have offices in Manila. “They did not commit yet because they will need at least a year's time and we have to develop the area for two years. So maybe next year.”

Uy added that the mall will house 271 shop areas for lease with 800 slots for car parks including covered and basement parking. “We are targeting before October 2011 to turn over the shop areas to tenants,” said Harrison Pow of HS Pow Construction and Development Corporation, a partner in developing the property.

According to Uy, it took them two years to plan the development of the area, which they believe will not only be another commercial establishment but a catalyst for economic development. It will create more job opportunities and promote new economic activity.

“Hopefully this will create a different kind of activity in the area because of the mall.”

Pow said that at the moment, they have hired a few hundred people for the construction of the area and will expect to add more, up to 2,000 people at most by February 2010.

Pow added that once the first phase is done, they expect more jobs to be generated with the opening of call centers which will require at least 1,500 seats.

Uy said they have more property development plans which will involve commercial establishments which allows continuous business compared to developing residential properties. - Aileen Garcia-Yap / Cebu Daily News 12/09/2009

PGMA lauds Cebu designation as world’s top BPO destination

Richard Batiquin — Fri, 05 Feb 2010 06:47:00 GMT

President Gloria Macapagal-Arroyo on Thursday lauded the province of Cebu for being named the Top 2009 Emerging Global Outsourcing Destination by Tholons, a global outsourcing advisory firm.

Tholons is India-based, with branches in the world’s major capitals. In a recent survey, it ranked Cebu at the top of 50 cities all over the world in scale and quality of workforce, modern infrastructure, risk profile, cost of operation, and quality of life.

In her speech before officers and employees of Qualfon Quality Contact Services at Asiatown IT Park here, the President said the city’s world-class workforce nicely dovetails with the Cyber Corridor established by her administration.

In her 2006 State of the Nation Address, the President announced the creation of the Cyber Corridor, where ICT (information and communications technology) and BPO (business outsourcing process) firms can locate their operation.

"Aside from miles and miles of roads that are now three-fourths complete, a 200-megawatt power plant will be constructed here next year. And as we can see, Asiatown IT Park facilities are available to accommodate ICT-BPO locators,” the President said.

"Cebu is attractive to investors because of the high quality of graduates from nine universities and 50 colleges," she said.

The President stressed that the rise of the $ 7-billion BPO industry can be traced to her administration’s strategic investments in three areas, namely connectivity infrastructure backbone, appropriate policy and legal environment, and human capital.

She said the government heavily invested in human development by providing more than 5,000 schools with computers, 4,000 of them with Internet connection.

According to the President, she has established three times more technical schools than the three previous administrations combined.

“Thanks to the Cyber Corridor, billions of pesos in investments poured into the country, creating half a million jobs in BPO industry alone," she said. “It is this big number of livelihood opportunities that is part of the legacy I am leaving behind.” (PNA) | Source

SM Prime to start Cebu mall in 2012

Richard Batiquin — Fri, 05 Feb 2010 06:04:00 GMT

SM Prime Holdings Inc., the country’s largest retail chain, will start the construction of its planned shopping mall within the 240-hectare South Road Properties in Cebu in 2012, according to a top company official.

SM Prime chief financial officer Jeffrey Lim said the shopping center will have a gross floor area of 250,000 square meters, making it the biggest retail complex in Visayas and Mindanao. The shopping mall would be a smaller version of the 60-hectare Mall of Asia complex along Roxas Boulevard.

SM Prime has committed to invest at least P20 billion over a 15-year period for a mixed-use development project at SRP which will include a convention center, hotels, high-rise residential condominiums, school and a hospital.

The company has offered to acquire a 28-hectare property within the SRP for P11,000 per square meter or nearly P3 billion. The SRP is a land reclamation project by the Cebu City government.

Aside from SM Prime, Filinvest Land Inc. is also developing 50.6 hectares of the SRP into a mixed-use complex. The project will be developed in four phases over a 20-year period with FLI contributing the development costs as well as the marketing and management services.

SM Prime is spending P12.1 billion this year for the opening of five new malls nationwide and one in China. Slated for opening this year are Calamba, Laguna; Masinag, Antipolo; Tarlac; Novaliches and San Pablo, Laguna which will provide a total of 279,228 square meters in gross floor area.

Three new malls in China – Chonggqing, Suzhou, and Zibo – are targeted for opening between 2010 and 2012. This will add to its three existing malls - SM Xiamen, Jinjiang and Chengdu.

SM Prime expects to have a total of 41 malls by end-2010 with total gross floor area of 4.5 to 4.8 million square meters. Its malls currently have a foot traffic of over 2.5 million per day. – Zinnia dela Peña | The Philippines Star 5 Feb 2010

Amisa opens luxury community by the sea

Richard Batiquin — Tue, 02 Feb 2010 10:59:00 GMT

Living a life of indulgence does not come easy when you’re used to living in the city

In the urban jungle, you wake up to the music of honking cars and rise to the smell of gasoline. You deal with traffic and stress, as well as a string of bills to pay. So you grit your teeth and join the constant struggle to get ahead in the rat race, in the hope of someday reaping your reward: living a life of ease.

But what if there’s a way to cash in that reward a little early, would you go ahead and take it?

Robinsons Land Corporation (RLC) presents this challenge in AmiSa, a masterplanned community and leisure estate in Mactan Island, Cebu.

AmiSa is Sanskrit for object of enjoyment, a pleasing or beautiful object. True to its name, AmiSa fashions itself as a Nirvana for those seeking respite from the rigors of urban living.

Imagine waking up to the sound of the waves rolling up to the shore, as fresh air from the sea wafts through the open window. Picture yourself and your loved ones taking long lazy walks along the beach, or refreshing dips in the ocean. Envision an afternoon with nothing but rest and relaxation on your agenda.

With AmiSa, RLC offers the prospect of luxury resort living in a destination famous for its gentle climate, azure waters and white sand beaches.

According to Frederick Go, president and chief operating officer of RLC, AmiSa is the perfect beach getaway from the chaos and confusion of the city.

Sprawled across six hectares of prime real estate in the Punta Engaño district of Mactan, this community boasts of a 200-meter beachfront. The property is a mere 10-minute drive from the Mactan Airport, and a 30-minute drive from Cebu City’s commercial and business district.

When completed, it will have six residential condominium towers which feature cantilevered balconies from which breathtaking views of Cebu’s landscape as well as its coastline can be enjoyed; a hotel with all the amenities for modern leisure island living; an entertainment center; sports activity areas and pools.

Tree-lined walks, pocket parks and paths complement a picturesque landscape inspired by Australia’s Gold Coast.

In addition, residents enjoy access to such facilities as an indoor gym and fitness center, water sports, infinity pools and biking and jogging trails. They may indulge in fun group activities at the karaoke room and the mini-theater, or select from the many services of the resort spa, enjoy al-fresco dining at the picnic area and glimpse spectacular sights from the viewing deck, cabanas and pavillions.

AmiSa is also well-suited to accommodate the MICE (meetings, incentives, conventions and exhibitions) market, dovetailing with the government’s five-year plan to generate tourism traffic from China, Russia, and ASEAN countries.

Future residents can choose to buy a studio (perfect for those “far-from-the-madding-crowd” getaways), one-bedroom (ideal for honeymooners) and two-bedroom units (for the ultimate family vacation). Units range from 39.45 sqm to 81.90 sqm starting at P3.2 million. Special payment schemes for as low as P29,425 a month are also available.

Recently, RLC announced that the turnover for Tower A shall be months ahead of schedule.

To know more about how you can own your luxury residence by the sea at Amisa, visit our website at www.ibrokermo.com or send us your questions/requests to info@ibrokermo.com.

Funds set for Tayud road project

Richard Batiquin — Thu, 28 Jan 2010 12:23:00 GMT

EXPANSION of the Tayud provincial road located in Consolacion town, northern Cebu may take place before the ban on infrastructure project takes effect on March 26.

In yesterday's press conference, Cebu Gov. Gwendolyn Garcia said the Department of Budget and Management (BDM) will release anytime part of the P350 million appropriation to kick off project implementation.

“I already talked to DPWH (Department of Public Works and Highways) Secretary Vic Domingo and it’s just a matter of appropriating the funds,” said Garcia.

She said President Gloria Macapagal-Arroyo assured her that she talked with Budget Secretary Rolando Andaya on the release of the project funds in last Sunday's visit.

Arroyo made a brief stopover to inspect works on the Cansaga bridge that connects Mandaue City to Consolacion town.

“The release of funds will be done in tranches. They may release during the first tranche P100 million,” the governor said.

The two-lane Tayud Road would be expanded to four lanes.

The road connects to the North Coastal Road Project (NCRP) of the national government.

Cansaga bridge, a component of the CNRP, will be opened to the riding public by end of March.

President Arroyo made a ceremonial drive through on the Cansaga bridge which is expected to serve as diversion road for vehicles using the national highway.

“For as long as part of the appropriation if available, we can make this into a continuing project so that this will not be affected by the ban on infrastructure projects,” said Garcia.

Garcia earlier sought the devolution of funds for the Tayud road expansion project to the Capitol to provide employment to local workers.

She said the DPWH would still supervise the project.

The late press secretary Cerge Remonde announced the president's approval of Garcia's request in last year's presidential visit. - Doris C. Bongcac / Cebu Daily News

City dads ask DENR to require developers to plant fruit trees

Richard Batiquin — Fri, 18 Dec 2009 01:06:00 GMT

The Cebu City Council yesterday asked the Environmental Management Bureau of the Department of Natural Resources to require land developers in the city to plan fruit-bearing trees equal to the number of houses they intend to build.

Councilor Nestor Archival, chairman of the council committee on environment, said the plating of fruit-bearing trees should be made one of the requirements to secure an Environmental Compliance Certificate.

Archival proposed that DENR officials should coordinate with barangay officials to ensure that the requirement be complied with by the land developers.

The move, Archival said, will help preserve the environment.

Earlier, an environmentalist asked: "Can we afford to clear the areas of their forest cover, exposing the hillsides to landslides and low-lying areas to flash floods?"

According to him, development cannot be ignored but environmental protection should also be the prime concern.

It was suggested that the council should pass an ordinance to regulate land development, particularly in the upland areas. Unregulated development of hillsides would mean greater risk to those living in low areas.

Last year, the city relocated several families in Barangay Guadalupe that are affected by floodwater allegedly sliding down from the hilly portion of the barangay that is being developed for an upscale housing subdivision.

Reference: The Freeman, 17 December 2009, p. 6 by Rene U. Borromeo/LPM

Pag-IBIG implements mandatory membership of all employees

Richard Batiquin — Thu, 17 Dec 2009 23:13:00 GMT

Starting January next year, all employees, whether permanent, temporary or provisional, all self-employed persons, regardless of trade, business or occupation with an income or salary of at least P1,000 a month will be mandated to apply as members of the Home Development Mutual Fund (Pag-ibig Fund).

This is just one of the highlights of the recently signed Republic Act 9679, otherwise known as the Home Development Mutual Fund Law of 2009.

Under Rule V of the Implementing Rules and Regulations, all workers earning at least P1,000 shall be covered by the law including household helper defined as persons who render domestic services exclusively to a household such as drivers, gardeners, cook, governess and other similar occupations.

Membership is also mandatory if you are a self-employed person, whether actors, directors, scriptwriters and news reporters who are not under an employer-employee relationship; professional athletes, trainers and jockeys; farmers and fisher folk; workers in the informal sectors such as cigarette vendors, street vendors, among others.

Coverage under the Fund shall be also mandatory for Filipinos employed by foreign-based employers whether deployed here or abroad.

The law also provides voluntary coverage for persons who are at least 18 years old and are not subject to mandatory coverage.

Mandatory coverage shall star, for employers, at the beginning of his business' operation. For employees, the start of his membership will be on his hire date. Those who are covered by the law but were already employed prior to the passage of RA 9679, coverage must begin on January 1, 2010.

The IRR indicates that it shall be the duty of all employers to register all their employees who are subject to mandatory coverage. They must submit all data and information to the Fund.

Registration of self-employed will be within 30 days from the date that he started to be self-employed.

Both the Mandaue and Cebu City branches of Pag-ibig Fund have already sent letters to local government units in Cebu to disseminate the information on the new mandates of RA 9679.

Vice President and Chairman of HDMF Noli de Castro said that there will also be an increase in the membership contribution rates that needs to be done to further improve the delivery of services to all members.

The increase in member's contribution is expected to bring more funds to HDMF which they may use to provide assistance to more members who need it especially to answer the growing demand for affordable housing.

Meanwhile, the transaction cards for all Pag-ibig members will be available by the end of January next year. Printing has started in Cebu City and Mandaue branch last November.

Reference: The Freeman, 17 December 2009 p. 3 by Jessica Ann R. Pareja/WAB