Palace rebids P34.5-B CALAX

Beijing, China – President Benigno S. Aquino III announced here the government will proceed with the rebidding of the P34.5 billion 43-kilometer Cavite-Laguna Expressway (CALAX) project.

President Aquino explained he was more concerned about the potential revenue lose should the government accept the winning bid than a backlash from angry investors.

The Cavite-Laguna Expressway (CALAX) allignment. (ppp.gov. ph)

“We are obligated to get the best deal for our people,” Aquino said. “So, for us to provide the equal opportunity to all parties to give their best offer, I think rebidding is the only process where we can be fair.”

He also rejected the proposal to just choose a winner.

Team Orion of Ayala Corp. and Aboitiz Equity Ventures, the highest complying bidder for the CALAX project last June, had expressed concern over President Aquino’s decision, saying it will derail the momentum of the government’s public-private partnership (PPP) program.

President Aquino wants a rebid after San Miguel Corporation (SMC) questioned the outcome of the project’s bidding.

The Department of Public Works and Highways (DPWH) disqualified SMC’s Optimal Infrastructure Development Inc. (OIDI) for submitting a defective bid security.

It can be recalled that San Miguel Corporation’s Optimal Infrastructure Development of San Miguel Corporation submitted a bid for P20.1 billion but it was disqualified despite its “substantial compliance” with bidding rules.

San Miguel’s issuing bank, ANZ,  had issued a bid security check short by four days  of the required 180 days, i.e, to expire on November 29 instead of November 25, 2014. The bank had admitted it was a typographical error and issued a corrected check immediately in time for the opening of the financial bids.

After it was disqualified, SMC opened its bid to the media and disclosed the contents or its bid. The SMC reportedly offered the highest premium bid for the toll road project to the tune of P20.105 billion while the Ayala-Aboitiz tandem made an “official” best offer at P11.7 billion.

“I cannot disregard the P8.4-billion difference because that amount can build roughly 50,000 socialized housing units. Between companies and the people, maybe it’s much easier for me to answer those companies than the public,” the President said.

Public interest is always more powerful than business groups, he pointed.

“They’re giving us a premium,” Aquino said, referring to OIDI’s alleged bid. “Remember, we have a deficit. Finance Secretary Cesar Purisima will be happier if we get a better premium as it will help us lower our budget deficit.”

Earlier, fund managers and think tanks warned that the planned rebidding of Calax could prove disastrous for the government PPP scheme and turn off investors who would believe that the President is favoring SMC.

Several business groups also said there is no basis for the planned rebidding, warning this action will adversely impact investor confidence in the government.

Team Orion also signified they will not participate in the rebidding of the 47-kilometer, four-lane toll expressway.

Earlier, the Philippine Chamber of Commerce and Industry (PCCI) has proposed that government review and reform the bidding process of Public Private Partnership (PPP) projects to remove technical disqualifications that tend to favor one bidder over the other.

The country’s business chamber issued this statement as it also called for a rebidding of the Cavite-Laguna Expressway Project (CALAEX) to maximize economic benefits of the government from the Public-Private Partnership project.

PCCI said this was a minor technicality that should not lead to disqualification and should be government’s own lookout to determine if it was to the country’s best interest to consider a technicality as not material to the financial bid, PCCI said.

PCCI said this technicality would deprive the government of the P8.45 billion difference between the San Miguel bid and the accepted bid of only P11.65 billion.

The San Miguel bid document was returned unopened due to the technicality.  Right after the bidding conference, the company opened its bid document before media.

PCCI said that in contrast with the minor technical disqualification, the bidding rules of the CALAEX project had been changed four days before to allow two more competitors to join the bidding.

The chamber also cited changes in procedures in previous examples such as in the Daang  Hari-South Luzon Expressway project and the Ninoy Aquino International Expressway project

The chamber proposed that rebidding of the CALAEX project should be under the reformed rules of PPP project bidding.

PCCI also said the CALAX rebidding could start from a floor price of P20.1 billion because the market value of the CALAEX project has already been established by the San Miguel offer, it said.

Government will, thus, increase benefits from the CALAEX project by least P8.45 billion, the PCCI said.
Source: Manila Bulletin

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DOJ opinion on titled lots 'unchanged'

ALMOST a year after typhoon Yolanda hit the Visayas, the National Government has yet to decide what to do with proposed resettlement sites that are not covered by titles.

Secretary Panfilo Lacson, head of the Office of Presidential Assistant for Rehabilitation and Recovery (OPARR), said his office asked other government agencies to consider areas that are covered only by tax declarations as relocation sites for Yolanda survivors.

“Sabi namin baka pwedeng maski tax dec ay mai-declare na na suitable site for development pero matigas yung noo ni Ms. Leila de Lima (We asked if areas covered only by tax declarations can be considered as resettlement sites but Leila de Lima, secretary of the Department of Justice or DOJ, is stubborn),” he said during his visit to Bantayan Island, Cebu. “The legal opinion rendered by DOJ is a big flat no so we
cannot do anything about it. We have to abide by the top lawyer of the government.”

Filprimehomes


Several families in northern Cebu have to be relocated because their houses were located in areas that are at risk during storm surges, floods and landslides. But the development of resettlement zones and the building of houses in these areas cannot proceed because the sites are not titled and thus, do not comply with government requirements.

Local government units facing this problem include towns in Bantayan Island and those in Camotes. Bantayan and Camotes lots cannot be titled because the areas are declared
natural reserves and protected areas.

In December last year, the National Housing Authority (NHA) identified more than 103,000 families in northern Cebu whose houses were damaged or destroyed when typhoon Yolanda made landfall in the area. Of the number, about 31,000 families need to be relocated to safer ground.

The Department of Budget and Management (DBM) released P11 billion for the 205,128 houses to be built in typhoon-hit areas in the Visayas. The DBM has also released around P39 billion to national government agencies involved in rehabilitation work.

Proclamation

Sta. Fe Mayor Jose Esgana asked Lacson during a press conference what the National Government intends to do to address the issue.

Lacson said OPARR proposed that a presidential proclamation be issued to reclassify land in some Yolanda-affected areas in the Visayas as alienable and disposable.

The Department of Environment and Natural Resources (DENR), he said, identified 4,000 hectares that are appropriate for relocation sites.

Lacson said the NHA only needs 1,364 hectares to build 205,128 houses in the Visayas.

But he said the areas identified by DENR are remote, do not have good access roads and still do not have electricity.

“This is work in progress. Let me assure you that national government agencies are working double hard to address the issues,” he said.

Lacson attended the turnover of repaired and newly constructed classrooms and day care centers in Bantayan, a project of the Ramon Aboitiz Foundation Inc.

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AboitizLand unveils new project

EVEN of AboitizLand is expanding in Mega Manila, the homegrown developer assured Cebuanos it will continue to pour in projects for Cebu in the coming years. An official said a residential project, one of the developer’s biggest, will be launched in Cebu next year.

“In the next five to ten years, AboitizLand will become a significant player (in the national league)…but there will still be enough projects for Cebu,” said AboitizLand vice president for marketing Charity Joyce Marohombsar.

Earlier this year, the company disclosed in the Philippine Stocks Exchange that it has acquired full ownership of Lima Land Inc. (LLI) after buying out Marubeni Corp.’s 40 percent stake in the Batangas-based company.

Filprimehomes

The deal involved “the purchase of 360 million common shares in Lima Land located at an undisclosed price, bringing Aboitiz Land’s total ownership to 100 percent.”

LLI is the developer of the 485-hectare Lima Technology Center, a Philippine Economic Zone Authority-registered economic zone in the Lipa-Malvar area of Batangas.

“As we know, Batangas has been declared as part of the Mega Manila. The expansion and growth is toward the area and we want to bring the brand that we established in Cebu to Luzon,” Marohombsar told reporters. In 2012, AboitizLand moved its headquarters to Bonfacio Global City in Taguig.

In the past 20 years, AboitizLand developed in Cebu 20 projects, a mix of residential and commercial, said marketing and sales team assistant vice president Audie Villa.

Including its industrial developments like Mactan Economic Zone II and the West Cebu Industrial Park in Balamban, the company has already developed over 400 hectares of land in Cebu alone.

On Wednesday, AboitizLand launched the Phase 3 of Priveya Hills, a high-end residential community in Barangay Bacayan in Cebu City.

The P3.2 billion project has five phases, covering roughly 60 hectares in land area.

It is expected to be fully completed in the next three to four years, said Villa.

Lot cuts at Priveya Hills Phase 3 are from 400 square meters to 1,000 square meters, sold currently at P 15,800 per square meter, 26 percent higher than Phase 1 when it was launched two years ago at P12,500 per square meter.
Source: sunstar

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Gov’t savings since 2010 reach P29-B

The Aquino government has saved over P29 billion from conducting competitive bidding, Department of Public Works and Highways (DPWH) Secretary Rogelio Singson said.

Singson said the savings were generated after the administration took away opportunities for collusion among contractors.

“By this time since June 2010, we have saved the government over P29 billion as the difference between the approved budget for contract to the awarded project cost,” Singson said during the CFA Institute-organized Philippine Investment Conference last Wednesday.

Singson said the current administration aims to increase capital spending for infrastructure to P795 billion by 2016 from the P125 billion spent in 2011. The investment will focus mainly on the construction, rehabilitation and expansion of roads, bridges, rail systems, airports, seaports and other infrastructure needed to sustain the economic growth in the country.

“Because of the huge jump in capital spending we are now having problems with the capacity of our contractors,” Singson explained.

“Some contractors are keeping their financial contracting capacity. I am requiring the contractors to upgrade their equipment so they can increase their financial contracting capacity,” he added.

“To address this issue of corruption, we need the support of the private sector. They have to abide by the bidding rules,” he said. filprimehomes
Source: ManilaBulletin

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Developers told to deal with licensed brokers

THE Philippine Real Estate Service Practitioners Inc. (Philres) in Davao City called on property developers to deal only with real estate service practitioners who are licensed under the Professional Regulation Commission (PRC).

Philres-Davao City president Maria Lourdes G. Monteverde told reporters last week it is required by the Real Estate Service Act (Resa) or RA 9646 for real estate practitioners to get a license and pass the board exam given by Professional Regulation Commission.

Feli Mahani, Philres Davao City auditor, said this will be for the security of both the buyer and seller.

FILPRIMEHOMES


Monteverde said both the seller and buyer have needs which the real estate practitioner will be able to link together.

They also said that investors and land sellers dealing with licensed real estate practitioners will know what is happening in the industry since the real estate practitioner is well versed regarding the local economy and real estate situation of Davao City.

Monteverde also said dealing with the right real estate practitioner, there will be a check and balance system between the seller and the buyer.

"One of the roles of the real estate practitioner is to balance out what the buyer's needs and the seller's needs," she said.

They also said that having a licensed practitioner, the buyer and seller can be assured that the documents will be processed right. Also, a licensed practitioner will be able to facilitate the buyer or seller well.

Monteverde reminded real estate practitioners in Davao City to get or have their licensed renewed. She said those who are unlicensed will be penalized by the law.

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Pagcor may forfeit Okada bond

MANILA, Philippines–Philippine Amusement and Gaming Corp. (Pagcor) may opt to forfeit the P100-million guarantee earlier set aside by Japanese gaming magnate Kazuo Okada if his group fails to finish the construction of its casino at the Entertainment City on the deadline stipulated in its contract.

Cristino L. Naguiat Jr., chair and chief executive of the state-run Pagcor, told reporters on Wednesday that despite the lack of a local partner, as well as legal woes now hounding Okada’s group, it should still push through with the construction of the $2-billion gaming complex along Manila Bay.

If it cannot complete construction by March 2015, “Pagcor may forfeit Okada’s performance bond of P100 million,” Naguiat said.

The Pagcor official said the Office of the Government Corporate Counsel under the Department of Justice is currently studying legal options on the matter.

Under Philippine laws, a foreign firm can operate a casino, but cannot buy land to build its facilities on it, Naguiat noted.

Last May, talks for a partnership between the Okada and Gokongwei groups faltered.

Okada’s gaming development further hit a roadblock amid a legal tussle with listed high-end property developer Century Properties Group Inc.

Last July, Century Properties obtained a court order from Makati Regional Trial Court Branch 66, which granted the company’s application for preliminary prohibitory injunction against the Okada group.

The order prohibited Okada from terminating a previous agreement with Century Properties, as well as from committing any acts that will make the agreement or any part of it ineffective.

The earlier memorandum of understanding (MOU) between the two parties would have allowed Century Properties to buy a 36-percent stake in holding company Eagle 1 Landholdings Inc. for $12 million.

Eagle 1 owns the 44-hectare property in Pagcor Entertainment City where Okada’s casino is supposed to be built.

Okada’s group signed a deal with Century Properties and privately owned First Paramount Holdings 888 Inc., which would have granted the two Filipino companies a combined 60-percent ownership of Eagle 1. First Paramount 888, however, backed out of the plan to acquire 24 percent of the holding firm.

The ruling also prevents Okada’s group from dealing with any party with respect to any sale, disposition or original issuance of any class of the shares of stock of Eagle 1 and from “dealing with any other party for the development of the commercial/residential land and the ommercial/residential project itself as contained in said agreements.”
Source: business.inquirer

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Subway isinusulong ng DOTC

MANILA, Philippines – Isusulong ng Department of Transportation and Communications (DOTC) ang pagkakaroon ng subway system o underground network ng mga tren sa Pilipinas upang mabawasan ang masikip na daloy ng trapiko sa Metro Manila.

Ayon kay DOTC spokesperson Migs Sagcal, iuugnay ang iba’t ibang sentro ng komersiyo sa Makati, Taguig, Maynila at Pasay.

Posible umanong magkaroon ng mga istasyon sa Market Market, St. Luke’s Medical Center Taguig, Ayala Triangle, PNR-Buendia, Buendia-Taft, World Trade Center, at SM Mall of Asia.

Tinatayang aabot sa P135 bilyon ang halaga ng panukalang subway at may haba itong 12 kilometro.

Inaasahan namang magtatayo rin ng common station sa Taft Avenue, kung saan nagtatagpo ang LRT-1 at MRT-3.

Sa kabila ng naturang plano, aminado si Sagcal na hindi kaagad maisasakatuparan ang proyekto. Posible umanong abutin pa ng isang dekada bago umarangkada ang proyekto. filprimehomes

Source: philstar

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Robinsons Land to build more malls

MANILA – Robinsons Land Corp. will continue its expansion plans in mall development, office spaces, and hotels in 2015, its president Frederick Go said on Tuesday.

Go said a bulk of the property developer’s capital expenditure of about P15-P16 billion will be spent to build more shopping malls nationwide.

“We will be opening Robinsons Place San Jose, Antique, as well as Robinsons Galleria Cebu in 2015, and start up maybe four or five shopping center projects. So a lot of our capex will be for the build out of shopping centers,” he told ANC.

Robinsons currently has 38 shopping malls in the country, with its 39th mall set to open in Las Piñas next week.

The two-storey Robinsons Place Las Piñas along the Alabang-Zapote Road is expected to house around 200 retailers as well as a Robinsons Supermarket and Robinsons Department Store.

“We’re very bullish about the economy. We’re very bullish about consumer spending. We think that the economy will continue to grow next year,” Go said.

He said part of the firm’s capex will also be used to build more office buildings, particularly to cater to the business process outsourcing (BPO) sector.

“We think the BPO sector is growing and expanding. A lot of self-use BPO companies are setting up in the country so we think this trend will continue for the medium term,” he said.

He also said the firm will continue to support the government’s campaign in bringing more tourists into the country, and will do its part by building more hotels.

In 2014, Robinsons six shopping centers, two office buildings and two hotels.

“This year was a busy year for us for building out,” said Go, adding that he expects stronger growth in 2015 because of the new projects. filprimehomes
Source: abs-cbnnews

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Manila Road projects lined up

PRESIDENT Benigno Aquino III has approved two major infrastructure projects of the Department of Public Works and Highways (DPWH) to help ease traffic woes in Metro Manila, a Palace official said Sunday.

Presidential Communications Operations Office Secretary Herminio Coloma Jr. said the President and the members of his Cabinet gave their nod on the implementation of the Sen. Gil Puyat Avenue-Makati Avenue-Paseo de Roces vehicle underpass project totaling P1.27 billion, and the Metro Manila interchange construction project estimated to cost P4 billion.

The Makati underpass project is expected to be completed in 2016.

fILPRIMEHOMES

"Detailed engineering studies are being finalized prior to start of project implementation before the end of 2014," Coloma said, adding that the project aims to facilitate movement of vehicles to and from the Makati central business district that accounts for one of the highest volumes of vehicular traffic in the metropolis.

In Quezon City, the DPWH will construct three grade-separated interchanges, namely, the Edsa-North Avenue-West Avenue-Mindanao Avenue interchange; the Circumferential Road 5-Greenmeadows-Calle Industria-Eastwood interchange; and the Edsa-Roosevelt Avenue-Congressional Avenue interchange.
Source: sunstar

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DOTC wants transport project started

The Department of Transportation and Communications (DOTC) wants to move forward with its Integrated Transport System public private partnerships deals, which have been delayed partly due to questions on their impact on regulations to govern public vehicles that will use them.

In line with this, Transportation Secretary Joseph Abaya said his department was holding talks with the Department of Finance, which was “concerned” about whether DOTC should guarantee the franchise modifications of these operators.

The ITS system was designed to create intermodal hubs where provincial buses would disembark passengers to transfer to other in-city modes of transport such as rail lines, city buses and UV Express vans. The move was also aimed at easing congestion in Metro Manila.

To do this, the franchise should be modified so these public vehicle operators would use the ITS projects, Abaya said.

“From my end, it should [be modified]. If not, it will affect its viability,” Abaya said.

“I think LTFRB [Land Transportation Franchising and Regulatory Board] has the power to do that. And we should commit to that, otherwise, who will bid?” Abaya said.

The DOTC is currently seeking bidders for two ITS projects, one is the P2.5-billion ITS Southwest located near Manila-Cavite Expressway and the P4-billion ITS-South, near the Food Terminal Inc. compound in Taguig. A third ITS project is being planned for the northern part of Metro Manila but the DOTC has yet to decide on the location.

The DOTC extended the qualification deadline for the ITS-South project to Nov. 4, a bid bulletin showed on Oct. 17.

For the ITS-Southwest deal, the transport department is hoping to finish the concession agreement this month, which would place the bid submission date around November this year, PPP Center executive director Cosette Canilao said earlier.

Among the prospective bidders for the ITS-Southwest deal are Ayala Corp., San Miguel Corp., Metro Pacific Investments Corp. and Robinsons Land. Meanwhile, five groups, including San Miguel Corp. and Ayala Land Inc.

The ITS-Southwest PPP bid invite was first published in December 27, 2013 while the ITS-South deal was rolled out on Aug. 1, 2014. Filprimehomes
Source: business.inquirer

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ALI defers Homestarter bonds

Property developer Ayala Land Inc. said it will delay the issuance of up to P5 billion worth of Homestarter bonds to early 2015, as the company already completed its fund-raising activities this year.

Ayala Land initially planned to issue the Homestarter bonds, an alternative saving strategy that aims to provide opportunities for people to purchase real estate products, in the second half of 2014.

“We don’t need any additional funding for the rest of the year and we are done with our fund raising for this year,” Ayala Land chief finance officer Jaime Ysmael told reporters.

Ysmael said the company still had an authority to sell P7 billion worth on Homestarter bonds, based on the previously approved registration statement with the Securities and Exchange Commission.

The property firm announced a plan in May to issue another tranche of Homestarter bonds, its 7th since the program was launched in 2006.

Ayala Land said Homestarter bonds proved to be an effective savings instrument for many bondholders. It is an interest-earning financial instrument that primarily targets retail investors who wish to set aside funds that may be used as full or partial downpayment in the purchase of an Ayala Land property.

Homestarter bonds, based on the previous issuances, have minimum investment requirement of P50,000 to as high as P5 million.

Bondholders earn a bonus credit through the program. This is a special discount on the net selling price of various Ayala Land properties, if the bondholder decides to apply the principal amount and accrued interests as a downpayment to acquire an Ayala Land property.

Ayala Land’s projects under Ayala Land Premier, Alveo, Avida, Amaia and BellaVita—may be acquired, using the savings and bonus credits generated from the Homestarter bonds. FILPRIMEHOMES

Ayala Land successfully raised P8 billion from issuance of fixed-rate retail bonds in April.

Ayala Land said net income grew by a quarter to P7.1 billion in the first half from P5.6 billion posted a year ago, driven by significant contributions from all business units, including property development, commercial leasing, hotels and resorts, construction and property management.

Consolidated revenues also increased 26 percent to P46.2 billion in the first half.

Source: manilastandardtoday

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Govt. readies bidding for terminal

MANILA - The government is laying the groundwork for the bidding of the second transport terminal in the south of Metro Manila.

In a general bid bulletin, the Department of Transportation and Communications (DOTC) set a November 4 deadline for submission of qualification documents for the P4-billion Integrated Transport System (ITS) South Terminal Project.

Five groups already bought bid documents for the project, including San Miguel Corp, Ayala Land Inc (ALI), Filinvest Land Inc (FLI), Megawide Construction Corp and Datem Construction.

The project will be located near the Food Terminal Inc, the development contract for which ALI earlier bagged.

The project will connect passengers coming from the provinces of Laguna and Batangas to other urban transport systems, such as the future North-South Commuter Rail, city buses, taxis and other public utility vehicles that serve the inner Metro Manila.

The terminal will include a passenger terminal building, arrival and departure bays, public information systems, ticketing and baggage holding facilities and park-ride facilities.

The winning bidder will build, operate and manage the said terminal for a concession period of 35 years.
Filprimehomes
The first transport terminal for Metro Manila is the P2.5 billion ITS Southwest Terminal Project, which built rise on a 2.9-hectare area. The terminal will connect passengers coming from Cavite to other urban transport systems, such as city buses, taxis and other public utility vehicles that serve the inner Metro Manila, as well as the future LRT1 South Extension.

The ITS-Southwest Terminal will include a passenger terminal building, arrival and departure bays, public information systems, ticketing and baggage handling facilities and park-ride facilities.

The Public Private Partnership Center earlier said 12 companies had expressed interest to join the auction, namely, Ayala Corp, ALI, D.M. Wenceslao and Associates Inc, Egis Projects Philippines, Expedition Construction Corp, FLI, Megawide, Metro Pacific Tollways Corp, Robinsons Land Corp, SMC, States Properties Corp, and Vicente T. Lao Construction.

The DOTC had set the submission of bid proposals for the ITS-Southwest PPP this month.
Source: interaksyon

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ProFriends woos cornerstone investors

Property developer ProFriends Group Inc. plans to sell up to 20 percent of the total shares under the planned initial public offering next month to cornerstone investors.

ProFriends Group plans to raise up to P7.7 billion in proceeds in the IPO which would involve the sale of 385.750 million shares at P20 apiece.

Roberto Juanchito Dispo, president of First Metro Investments Corp., one of the underwriters for the IPO, said ProFriends recently completed the presentations to various fund groups including insurance companies, mutual funds and asset managers.

He said ProFriends also planned to hold a roadshow over the next two weeks in Hong Kong and Singapore to attract institutional investors.

“The maximum [that we will be selling to key cornerstone investors] will be 10 to 20 percent of the offer shares,” Dispo said.

“We would like to believe that ProFriends offers better investment value proposition. Out of all the companies going public, this is the most profitable,” Dispo said. Filprimehomes

Dispo said ProFriends was poised to generate P6 billion in net income this year, up from P3.4 billion in 2013.  Profit was forecast to hit P7.5 billion in 2015.

ProFriends plans to use proceeds from the IPO to finance several real estate projects in Cavite, Iloilo and Cagayan de Oro as well as acquisition of land for future developments.

ProFriends said it would spent P3.1 billion for expansion, P2.48 billion in equity investment in Willamton Holdings Inc. and P1.24 billion for acquisition of additional properties in Cavite, Iloilo and Cagayan de Oro.  Williamton is a wholly-owned subsidiary of Amicus Holdings which handles the in-house financing requirements of Pro-Friends homebuyers.

ProFriends is also engaged in retail and office leasing and consumer finance.  The company has built over 26,000 affordable housing units mostly in Cavite and Iloilo since 1999.
Source: manilastandardtoday

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P1B subdivision joint venture inked

Suntrust Properties Inc., a Megaworld fully-owned subsidiary, has entered into a joint venture with the Lacson family to develop a more than 50-hectare property straddling Bacolod and Talisay cities into a subdivision, Basilio Almazan Jr., Suntrust first vice president, said yesterday.

He said Suntrust will pour in P1 billion to develop the property near the Bacolod Silay Access Road into a residential subdivision.

Work will start in less than a year after licenses and engineering and architectural master plans are completed, he said.

Later on they hope to also add commercial and institutional infrastructure establishments to turn it into a township, Almazan added.

Suntrust president Harrison Paltongan signed a partnership contract with Suzette and Felipe Lacson yesterday witnessed by Mayors. Filprimehomes
Source: visayandailystar

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Aquino OKs P307-b infra projects

President Benigno Aquino III has approved 13 infrastructure projects worth P307.22 billion on Friday’s National Economic Development Authority Board meeting.

President Benigno Aquino III holds the National

Economic and Development Authority Board

Meeting at the Aguinaldo State Dining Room of

the Malacañan Palace on October 17, 201. Joining

him are Presidential Communications Operations

Office Secretary Herminio Coloma Jr., Presidential

Legal Counsel Alfredo Benjamin Caguioa,

Secretary to the Cabinet Jose Rene Almendras,

Finance Secretary Cesar Purisima, Trade and

Industry Secretary Gregory Domingo and

Environment and Natural Resources Secretary

Ramon Jesus Paje. Malacañang Photo

Communications Secretary Sonny Coloma said among the major projects that were given the greenlight is the P122.81 billion Laguna Lakeshore Expressway-Dike Project.

The 47-kilometer six-lane expressway is intended to serve as a flood control barrier as well.

According to Coloma, the project will have a concession period of 37 years--seven years for design and construction and 30 years for operation and maintenance.

Other projects to be implemented by the Department of Public Works and Highways include the P8.55 billion flood risk management project for Cagayan de Oro River; P1.27 billion Sen. Gil Puyat Avenue -Makati Avenue-Paseo de Roxas vehicles underpass project; P0.81 billion for the restoration of damaged bridges along the Bohol Circumferential Road; and P4.01 billion Metro Manila Interchange construction project Phase VI.

Aquino also approved four airport and one port maintenance projects to be implemented by the Department of Transportation and Communications.

The DoTC projects cover the maintenance and development of the Iloilo Airport (P30.4 billion); Bacolod Airport (P20.26 billion); Davao Airport (P40.57 billion); and Puerto Princesa Airport (P5.23 billion); and the modernization of the Davao Sasa Port (P18.99 billion).

Aquino likewise approved the regional prison project under the Department of Justice worth P50.18 billion.

The new penitentiary to be implemented under a public-private partnership agreement will be capable of holding about 26,000 prisoners.

For food security and employment, Aquino approved a P1.86 billion fisheries and coastal resources livelihood project under the Department of Agriculture and a P2.28 billion value chain project under the Department of Agrarian Reform.

“President Aquino also directed the Cabinet and NEDA members to focus on completing similar ongoing projects and on laying the groundwork for sustainable, long-term economic development and inclusive growth,” Coloma said. filprimehomes

Source: manilastandardtoday

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Rockwell Primaries provides access

When Rockwell Center was envisioned nearly two decades ago, it was anchored on providing quality living for the high-end market. Rockwell president and CEO Nestor Padilla recalled how establishing the “self-contained community” back then was a risk no one else dared touch.

No one believed them at first, he said. The move to provide not just a home but a neighborhood where daily needs are within one’s reach came at a time when Metro Manila was starting to grow—and development issues such as traffic and difficulty of access to services became its consequences.

For Padilla, the desire to make services accessible is a standard for responsible developers, which Rockwell Land has placed in its identity. Its working term: premium.

But with the evolving market and changing needs and lifestyle of the public, Malou Pineda, Rockwell’s senior vice president for new business, explained how the term “premium” finds a new meaning as Rockwell tries to expand to the broader market.

“We can’t say that we’re experts in real estate because we really started as being experts in a niche, and I think that’s where we found ourselves,” she told the Inquirer.

The challenge in expanding to the broader segment, she said, is also trying to find their niche in the different tiers, just as they did in the high-end market.

The idea, which may be a step away from the comfort zone for Rockwell, gave birth to Rockwell Primaries—the newest, wholly owned subsidiary of Rockwell Land.

“Primaries is trying to go to a broader segment when there’s more population compared to just the high-end, but carrying the DNA or genes of Rockwell which is the premium brand,” Pineda said.

‘Affordable premium’

Rockwell Primaries describes its vision as providing access to “affordable premium.”

Pineda, who is also the former general manager of Power Plant Mall, related this concept to fashion. Fashion captures “affordability” and “premium” when mass-produced brands catering to the wider population make pieces from high-end designers more accessible through collaborations, or when brands offer quality clothing for prices cheaper than their competitors.

In the same breadth, Pineda said Primaries’ first project, 53 Benitez, aims to be more accessible to families but with the same privacy, safety and convenience Rockwell has offered through the years. With innovations such as passive cooling technology and private bridgeways, it aims to integrate quality in its future-oriented homes.

Veering from the residential market’s luxury segment concentrated in Metro Manila’s Central Business Districts (CBDs), the two-tower, midrise development is located in New Manila, Quezon City, and set for turnover in July 2015. This medium-density project is part of Rockwell Primaries’ strategy to transform untapped sites in the Metro into prime developments.

Because of the attractiveness of an “urban community” to young couples and single persons, there is a noticeable shift in attitude toward medium-density, inner-city living and more sustainable residential developments for different segments of the population, not just for the upper market.

New venture, same quality. FILPRIMEHOMES

Rockwell Primaries’ venture for the broader segment is met with challenges when it comes to price, especially when it turned out to be more expensive than the direct competition in the area, Pineda noted. But the general outcome turned out to be interesting.

“If you’re going to look at details like sales performance, my sales organization is like one-fourth of what’s out there, but we sell the same number of units a month. They (competitors) are priced 50 percent or 30 percent lower but we’re able to compete,” Pineda said.

How is it possible? Rockwell knows its edge: By establishing its own name as provider of quality living, the brand has earned the public’s trust.

“We’re able to see that there’s some pricing power that we established,” Pineda said. “We discovered that there are people in that segment willing to pay a little because they’re looking for that premium, because that’s hard-earned money,” she added.

Pineda explained that Rockwell Primaries operates on a vision that quality shall not be limited to a specific segment. “It does not follow that because your demographic or your household income is just this much, you don’t deserve quality.”

Focus on experience

If there’s one thing Rockwell Land has regarded with the highest value over branding, it is how their clients experience their projects.

“A product is a product—but it’s really the experience of the product that we like to focus on,” Pineda said. Since a structure’s layout can limit one’s perspective on their products, the experience of what they have to offer is the defining factor to Rockwell Land’s expertise in the industry—a testament that also reflects the company’s vision, she said.

“Everybody should be able to experience a quality life, quality living… I guess that’s where we’re coming from,” Pineda said.

As Padilla expressed, their words can never do justice to their developments. The lessons they acquired from nearly 20 years in the industry, Pineda noted, will guide them as Rockwell Land expands to more areas and segments in the market.
Source: business.inquirer

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HLURB official faces suspension

THE regional director of the Housing and Land Use Regulatory Board-Southern Mindanao Region (HLURB-SMR) is facing a one month suspension after the Office of the Ombudsman-Mindanao found probable cause to charge him for perjury following the alleged non-disclosure of a lending business in his 2010 statement of assets, liabilities and networth (SALN).

HLURB 11 director lawyer Miguel Palma Gil told Sun.Star Davao in an interview Wednesday that he received the order from the Office of the Ombudsman-Mindanao on September 15 but he has yet to serve the suspension pending receipt of an order from HLURB supervising commissioner for Southern Mindanao Region lawyer Luis Paredes.

"I have yet to receive the order from Commissioner Paredes but I am expecting to serve the suspension by November. Also, I still have a lot of pending documents and activities to settle so that the transition for the designated officer-in-charge will be smooth," Palma Gil said.

The regional director lamented on the suspension saying, "It is just saddening that I will have to be suspended when I am not involved in any malicious transactions. In fact, when I took over as the director, our office has been commended for three straight years due to our excellent performance. But I will have to respect the decision of the Ombudsman so I am just waiting for the order of the commissioner."

FILPRIMEHOMES

The case stemmed from the complaint filed by lawyer Aimee Torrefranca who accused Palma Gil of not disclosing a lending business worth more than P2 million in his 2010 SALN.

Torrefranca, who is the ex-girlfriend of Palma Gil, was given by the latter a total of P2,013,000 sometime in 2010, which she claimed as an investment for a money lending business. The business, however, did not materialize after the two had split up.

In 2012, Palma Gil sent demand letters to Torrefranca asking the latter to return the investment. This then became the ground for Torrefranca to file the complaint as the so-called investment in 2010 should have been included in Palma Gil's SALN.

A portion of the Office of the Ombudsman-Mindanao resolution dated August 29 read, "The fact that the respondent invested a total amount of P2,013,000.00 in a lending business in 2010 is uncontroverted. It is important to note that respondent did not dispute his two demand letters to complaint pertaining to the return of his investments. Respondent's assertion in his counter-affidavit that such amount came from his family runs contrary to his statements as containing in his two letters aside from the fact that such defense is not substantiated by any evidence. Nowhere in the letters of respondent was it mentioned or indicated that what was being demanded by him was the personal debt of complainant to his family."

The resolution also stated that Palma Gil was not able to explain where such money came from.

"Based on the respondent's SALN as of December 31, 2010, it is clear that he declared no cash on hand or cash in bank during that year as possible source of his investment involving substantial amount of money," the resolution read.

But Palma Gil, in his motion for reconsideration, insisted that the money came from his mother and he clarified that the it was not an investment but rather a cash assistance for Torrefranca being her girlfriend.

This contention, however, was not acknowledged by the Office of the Ombudsman-Mindanao thus, the charges were affirmed.
Source: Sunstar

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SEC clears Ayala’s P15-b share sale

The Securities and Exchange Commission on Friday approved the P15-billion preferred shares offering of conglomerate Ayala Corp.

Ayala Corp. said in a filing with SEC it would offer up to 30 million new and separate series of preferred Class B shares at an offer price of up to P500 apiece.

The new series of preferred shares will have a fixed quarterly dividend rate, which shall be based on either five-year or seven-year Philippine Dealing System Treasury reference rates benchmark plus a spread to be determined at such time.

This series of preferred shares shall be non-convertible and shall have no voting and pre-emptive rights.

The preferred Class B shares, which shall be listed with the Philippine Stock Exchange, are structured as perpetual equity securities that have preference in payment of dividends.

Proceeds from the fund-raising activity will be used to finance the conglomerate’s infrastructure and power projects as well as for debt repayment.

The Ayala group recently made significant investments in the power and transport infrastructure sectors and allotted P24 billion in capital expenditures for projects in the two sectors.

Ayala Corp., through AC Infrastructure, has a 35-percent stake in the Light Rail Manila Consortium, which won the bidding for the LRT 1 Extension project while MPIC Light Rail Corp. of Metro Pacific Investments Corp. has a 55-percent interest. Macquarie Infrastructure Holdings (Philippines) Pte Ltd. owns the remaining 10 percent.

Team Orion, a 50-50 joint venture between Ayala and Aboitiz Land Inc., is also awaiting the notice of award from the Public Works Department for the P35.4-billion Cavite-Laguna expressway project.      
filprimehomes
Ayala Corp. earlier said it was looking for other infrastructure projects including the P123 billion Laguna Lakeshore Expressway Dike project.

Ayala Corp. registered a net income of P9.8 billion in the first half, up 34 percent from a year ago, driven by the solid performance of core businesses, particularly Ayala Land, Globe Telecom and Manila Water.

Equity earnings from Globe, which quadrupled year-on-year, more than offset the decline in the contribution of banking unit Bank of the Philippine Islands.

Ayala Corp. also raised $300 million in five-year bonds exchangeable for common stock of its property unit Ayala Land Inc. in May this year.  The bonds were listed on the Singapore Exchange Securities Trading Limited.
Source: manilastandardtoday

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Makati spearheads medical tourism

They come from Jakarta, Singapore, Kuala Lumpur, Hong Kong,  even as far Mumbai.  High rollers from Asia’s top capitals, who just happen to have contracted an ailment of some sort,. And they don’t feel like shelling out a fortune for medical treatment in the United States, or Europe.

The 28-storey Centuria Medical

Makati in Kalayaan Avenue, Makati

City will be  turned over to clinic

space owners by the end of 2014.

They love going to Manila, where capable, good doctors abound, and some of the best nurses provide the Philippine signature warmth and care. Welcome to the wide, wonderful  world of medical tourism, Philippine-style.  But for this industry to take off, world-class medical facilities will have to come into play.

Enter Century Properties, which recently kicked off its new venture—the Centuria Medical Makati.

Centuria Medical Makati is a 28-storey medical arts center that will house more than 500 clinics to serve doctors of various medical expertise, medical tourists and local patients. The property envisions a spacious lobby and warmly lit, homey surroundings—a departure from the impersonal ambience of traditional clinics.

The infrastructure will dedicate floors for medical support facilities including a hospital-grade day surgery center, recovery suites, radiology center, pharmacy and diagnostic laboratory to be run by Hi-Precision Diagnostics.

GE Healthcare will provide consultancy for Centuria Medical Makati’s day surgery infrastructure. GE is globally recognized not just for its medical equipment and healthcare solutions, but also for its extensive medical infrastructure consultancy services.

Bullish prospects. FILPRIMEHOMES

The concept of an outpatient IT-medical center began with Century Properties Chairman Jose E.B. Antonio, who wanted to maximize the country’s untapped potential as a medical tourism destination.

“We’re very bullish about the prospects of medical tourism in the Philippines considering that the cost of treatments here is one-third of what you would pay in the United States,” Antonio said at a recent investment forum.

“The only thing we need to provide in order to serve this growing market are the facilities. This world-class medical arts building in the Philippines is going to be the first of its kind–our contribution to help push medical tourism,” he said.

Centuria Medical Makati is now on its final stages. It will be turned over to clinic space owners by the end of 2014.

The facility is located in the heart of Makati, across the new Century City Mall. The location guarantees access to and from offices, major banking establishments, residential communities, and top hotels.

Centuria’s medical concierge service will assist in consultation scheduling, shuttle and hotel bookings, as well as flight arrangements for clients who want to tour the Philippines. Parking space and valet services will be provided. An ambulance service will also be available.
Source: manilastandardtoday

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P133-B Projects up for NEDA approval

MANILA - The Department of Transportation and Communications (DOTC) is hopeful that the National Economic and Development Authority (NEDA) would approve today six major Public Private Partnership (PPP) projects worth P133.2 billion.

Transportation Secretary Joseph Emilio Abaya said the agency’s six PPP projects are part of the 18 projects scheduled to be tackled by the NEDA board today.

Abaya said the six projects of the agency include the bidding for the operation and maintenance (O&M) of four major airports worth P96.5 billion.

These include the P40.6 billion Francisco Bangoy or Davao airport; the P30.4-billion new Iloilo airport; the P20.26 billion Bacolod airport also known as the Bacolod-Silay airport; and the P5.23 billion Puerto Princesa airport.

Scheduled to be discussed today is the P17.5 billion Davao Sasa port project that involves the transformation of the existing port into a modern, international-standard container terminal providing a dedicated containerized port in the region. FILPRIMEHOMES

The private partner in the Davao Sasa port project would finance the construction and modernization of the existing port including the new apron, linear quay, expansion of the back-up area, container yards, warehouses, and the installation of new equipment like ship-to-shore cranes and rubber-tyred gantry over the pre-agreed concession period.

Likewise, Abaya said NEDA would also discuss the P19.3 billion Motor Vehicle Inspection System (MVIS) project as part of the implementation of the Clean Air Act.

The project involves the setting up Motor Vehicle Inspections Centers (MVIC) to test various categories of heavy duty, light duty and two wheeler vehicles, across the Philippines.

He said the private partner would develop, operate, and maintain a network of MVICs to perform inspections for all vehicles in the country.

The roll out of PPP projects in the Philippines is in full swing after the award of eight PPP projects worth close to P133 billion.

These include the Daang Hari – South Luzon expressway link road (P2 billion), PPP for School Infrastructure Project phase 1 (P8.86 billion), the PSIP-2 (P16.28 billion), the modernization project for the Philippine Orthopedic Center (P5.98 billion), the Ninoy Aquino International Airport expressway (P15.52 billion), the automated fare collection system project (P1.72 billion), the Mactan – Cebu international airport expansion project (P17.5 billion), and the Light Rail Transit line 1 Cavite extension project (P65 billion).

The award of the P35.4 billion Cavite – Laguna expressway project is now pending after the disqualified bidder filed an appeal before the Office of the President.

The PPP Center earlier said the Aquino administration is set to roll out 18 PPP projects worth P407 billion before June next year as part of the inventory of over 50 projects already in the pipeline.

Earlier, Moody’s Investor Service cited the expanding market and the accelerating deal flow for PPP projects in the Philippines in a 21-page special comment entitled “Global P3 Landscape providing a region-by-region round-up of major themes in infrastructure investment.
Source: abs-cbnnews

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Group backs GenSan land scam probe

GENERAL SANTOS CITY, Philippines—Findings of the Land Registration Authority (LRA) that titles, which are in possession of some individuals, were fake were welcomed by a group fighting the proliferation of spurious land documents here.

Last month, an urban poor group asked the Senate to conduct an investigation into what it labeled as “monumental land scam” which led to the release by the Department of Public Works and Highways of some P135 million in partial road-right-of-way compensation in 2005.

Tito Torribiano, chair of the Coalition for Reform Against Fake Titles (Craft) Movement, said at least 5,000 fake titles were proliferating in the city.

During a hearing by the Senate committee on justice and human rights, chaired by Sen. Aquilino Pimentel III last week, the LRA affirmed that many titles possessed by individuals here are spurious.

Among the titles were those belonging to a Romeo Confesor for a 747-hectare of land covered by an Integrated Forest Management Agreement (Ifma) with Alsons Development and Investment Corp. (Aldevinco). FILPRIMEHOMES

It was pointed out at the Senate hearing that as early as 1956, the technical description of the Confesor title already showed the land boundaries, which included the present General Santos airport.

Pimentel said this was impossible because the master plan for the airport was drawn only in 1993.

As indicated by records in the Civil Registrar of General Santos, Confesor was 15 years old in 1956 and could not have predicted that an airport would be built next to his supposed property 37 years later.

Other anomalous practices denounced during the Senate hearing were the non-use of prescribed judicial forms and the questionable annotations done by officials on the Confessor documents.

Source: newsinfo.inquirer

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DPWH moves Lakeshore bid deadline

MANILA – The deadline for the submission of pre-qualification documents for the P123-billion Laguna Lakeshore expressway dike project has been moved to January 2015, the Department of Public Works and Highways (DPWH) said.

The DPWH issued Supplemental Bid Bulletin No. 04 to extend the submission of qualification documents to January 14, 2015 instead of the original deadline of October 16, 2014.

“This is on the request of most of the bidders for 90 days extension to give them more time to engage and choose the right partners for the project,” said Public Works Secretary Rogelio Singson.

The shortlist of pre-qualified bidders will be announced on February 3.

Public Works Undersecretary Rafael Yabut said the special bids and awards committee (BAC) for public-private partnership projects will hold a pre-bid conference and one-on-one meetings with interested bidders.

Twenty-two companies have expressed interest in the Aquino administration’s largest PPP project, including Ayala Land Inc., Filinvest Land Inc., GT Capital Holdings Inc., JG Summit Holdings Inc., Metro Pacific Investments Corp., Megaworld Corp., San Miguel Corp., and the Lucio Tan Group.

Other companies that are interested are Aboitiz Group, Megawide Construction Corp., State Properties Corp., the Laguna Lakeshore Consortium, JV Power and Wealth Corp., Macquarie Capital Securities, Minerales Industrias Corp., Alloy MTD-Hashin -Vista Land, Egis SA, Leighton Contractors, Muhibbah Engineering (M) Berhad, Macquarie Securities (Phil) Inc. (Australia), and PT Star Line of Indonesia.

The lakeshore project involves the construction of a 47-kilometer flood control dike, and a six-lane expressway.

The road will pass through Taguig, Muntinlupa, Calamba, and Los Banos.

Around 700 hectares of foreshore and offshore areas will be reclaimed in Taguig and Muntinlupa.

The project, which was approved by the National Economic and Development Authority (NEDA) Board in June, aims to mitigate flooding in the coastal towns of Laguna Lake; improve the lake’s environmental condition; and promote economic activities through the efficient transport of goods and people.

It is also envisioned to provide opportunities for developing a new business and residential district in the reclaimed areas.

Source: abs-cbnnews

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PH Govt. may build Calax itself

MANILA, Philippines–The government is considering a new strategy to resolve the hotly contested $864-million Cavite-Laguna Expressway (CALAx) project: Remove the infrastructure project from the public-private partnership (PPP) program and build the tollroad itself.

Several well-placed industry sources said this option was raised during a recent Cabinet meeting and was seriously being considered as a viable option to break the CALAx deadlock.

By implementing the project itself, industry sources said, the government could avoid the image that it was favoring one party over another. For the proponents, this would be a losing proposition since it would mean taking private sector participation out of the project.

The problem started when the Office of the President issued an order to suspend the implementation of a resolution by the Department of Public Works and Highways (DPWH), which disqualified conglomerate San Miguel Corp. from the controversial bidding for CALAx.

The “stay” order from Malacañang prevented the DPWH from awarding the project to the Ayala-led Team Orion, which had submitted the highest bid after SMC’s unit, Optimal Infrastructure Development Inc. (OIDI) was disqualified.

Team Orion offered to pay a premium of P11.659 billion to the government for the right to build the tollroad. But shortly before the opening of the qualified bids on June 13, SMC announced a premium offer of P20.1 billion.

OIDI was disqualified because the DPWH deemed that its bid security—an irrevocable standby letter of credit in the amount of P355 million issued by a universal or commercial bank—was “not in compliance” with the provisions set forth in the guidelines.

Video of CALAX HIGHWAY

Industry sources said the Cabinet was split on the DPWH’s decision to disqualify SMC over a technicality issue. Another option was to declare a failure of bidding and conduct a new round of bidding. That option was put on the table to avoid legal challenge from either the SMC or Ayala groups.

In an interview, John Walker of Macquarie Capital (Hong Kong) Ltd. said that after so many false starts of the PPP program, it would be crucial for the Philippine government to follow its own rules. Otherwise, it would reverse the favorable economic momentum of the country. FILPRIMEHOMES

“CALAx has become something of a sleeping giant. And my view on CALAx is, it is a big test to the credibility that has been built up. There is no doubt that it is a big test and that’s not just [my] view but the view in the region,” Walker said, as he warned the government against backtracking on issues that, in the past, had given the Philippines such a “bad reputation” among investors.

Walker said a rebidding would hurt confidence in the country “without any doubt,” creating the impression that the Philippines was back to its old ways.

“Processes are established for a reason. They are established to create a level, transparent playing field. The problem is, if you go outside those processes. You undermine the process entirely. I think the only thing to do is to follow the process to its logical proper conclusion,” he said.

Macquarie Group is among the groups, along with the state-owned Government Service Insurance System, Dutch pension asset manager Algemene Pensioen Groep NV and the Asian Development Bank, that created a $625-million infrastructure fund for the Philippines in 2012.
Source: inquirer.net

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