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More info on www.PinoyBroker.com www.PinoyBroker.com www.PinoyBroker.com Vol. XIX, No. 157 Thursday, March 02, 2006 | MANILA, PHILIPPINES Property & Infrastructure Community Innovations starts Celadon Residences San Lazaro Artist’s perspective of the Celadon Residences Community Innovations, Inc., an Ayala Land, Inc. subsidiary, recently launched its newest development, the Celadon Residences San Lazaro. Celadon Residences San Lazaro is a 4.2-hectare village 20 minutes by car from Binondo. The project is along A. H. Lacson (formerly Gov. Forbes) in Sta. Cruz, Manila. Designed to be an exclusive community, the project offers 200 Mediterranean-style townhouse units grouped in clusters. Buyers may choose from three types, with floor areas ranging from 168 to 204 square meters, depending on their needs. All townhouse unit types will have three bedrooms and pocket gardens on the ground floor that will allow homeowners the rare chance to bring in a piece of the outdoors. The added option of a guest room/home office affords the residents more space. 'OFW Phenomenon' to Continue in 2006 An article published in The Philippine Daily Inquirer, January 13, 2006 By : Tessa Salazar ------------------------------------------------------------------------ WILL OVERSEAS Filipino workers' investments in their home country continue to rise or slacken this year? Optimistic developers and real estate firms believe more money from OFWs will be pouring in. Eric Soriano, ERA Philippines country president and CEO, said home mortgage investments develop "discipline" in the form of forced savings on OFW dependents. "Our studies have shown that there is a 92 percent repayment of monthly amortizations among OFW homebuyers, a positive indicator for the industry," Soriano said. "I believe the iceberg for OFW markets is very deep," he added. According to him, statistics have shown that education and real estate are still top priorities for any OFW provider. Reinforcing OFW remittances are new money coming from balikbayans from North America and Europe . Marivic Añonuevo, vice president and head of Ayala Land Inc.'s leisure and lifestyle communities, said the number of Filipinos leaving the Philippines to work abroad continues to grow at around 12.5 percent. "Although this is really a sad phenomenon, this indicates however that the amount of dollars earned and remitted back home continues to grow. Rather than slacking off, therefore, we in ALI feel that we have only mined what we believe is the tip of the large OFW market." Danilo E. Ignacio, general manager of Robinsons Land Corp.-high rise building division, said RLC is confident that the OFW investments in real estate will remain. Jose EB Antonio, chair of Century Properties Group and Meridien Development Group, said that 30 percent of the income of OFWs in general is spent on housing, whether to buy a new home, fix present homes or pay for rent. "The quest for the Filipino dream of owning their home is foremost in the minds of OFWs. It is also worthwhile to note that the average income of an OFW has increased, as more white collar workers and technical people are working abroad," Antonio said. Soriano observed that historically, spikes in OFW remittances occur every middle and end of the year. "However, with the continuous deployment of new OFWs in existing and new geographical markets and the increase in remittance month on month, we can expect a steady stream of real estate business from the sector all throughout the year," he said. Añonuevo estimated that ALI overseas sales accounted for nearly 20 to 25 percent of the total sales volume generated by the ALI parent company, including subsidiaries such as Community Innovations Inc and LPHI. She added that recognizing this large potential, ALI has established Ayala Land International Sales Inc. Ignacio said that RLC markets selected projects internationally. "Revenues generated from our international marketing efforts account for a substantial portion of our sales. We thus intend to pursue building this segment," he said. ERA Real Estate, a multinational real estate service provider that manages Eastwood, expects to grow its OFW portfolio from 15 percent in 2005 to 25 percent this year. "The industry posted an average OFW contribution of 20 to 25 percent. My advice to developers is for them to focus on increasing their OFW portfolio by an additional 15 percent this year," Soriano said. ********* One of the reasons for buying a condo is as an investment, you either sell it or rent it out when its completed. I own a condo in Ortigas center (Megaplaza) and would like to weigh my option on either selling it or renting it out. Do you guys have any idea on where I can get information on the going rate of renting out condos in Ortigas center, in Legazpi Village, and in Bonifacio Global City. Where can I get some information on the pros and cons of renting out condos in those areas. Are there any brokers who can manage the renting out of your unit if you are not based in the Philippines. My dream is to retire and live in Manila the proud owner of 3 or 4 units that generates rental income every month. Is this a realistic scenario? Am I better off putting my money in mutual funds? Are there any factual studies on how much these condominiums in Ortigas, Makati and Bonifacio Global have increased in value over the years? Are there any projections on the value of the PROJECTS ON THE RISE in the coming years? It is encouraging to see that the major developers are continuing to build quality projects, but are buyers just buying because of emotional reasons. One of Richard Kiyosaki's advice (Rich dad, Poor Dad) is "Don't fall in love with the property". You'll either buy it for the wrong reasons or you'll have a hard time selling it when the time is ripe. I don't know how right he is but it is a point to consider before investing. The idealist in me would love to see my country get back on its feet and become a developed country. If I can contribute a little by investing in the philippines then it is perfect. The realist in me sees the corrupt government system and the political decay eating up our country. RP ON VERGE OF BIGGEST REAL ESTATE BOOM IN 30 YEARS An article published in The Philippine Daily Inquirer, December 18, 2005 By : Gil C. Cabacungan Jr. ------------------------------------------------------------------------ The Philippines is on the cusp of what could be the country's biggest property boom in nearly three decades fueled by money from overseas Filipinos, investments from businessmen and increased government spending. Albay Rep. Joey Salceda said “We are at the threshold of the biggest real estate boom since 1997.” Since the Asian financial crisis brought the property sector into a long swoon in 1997, the industry has been on a slow but steady climb in the last few years. Salceda expected the property boom would be broad-based –from residential houses and condo units to office towers, leisure facilities hotels. Frederick Go, executive vice president of Robinsons Land Corp., agreed the future of real estate was “bright” with dollars from overseas Filipinos expected to spur the industry's growth next year. Tapping OFW Market At least $1 billion in remittances from Filipinos living or working abroad flow in every month (not counting the dollars sent through informal channels), and Go expects them to spend these dollars buying new houses for their families, high-end condos or resort homes for their own use. Robinsons Land was one of the first firms to tap the overseas market, which now accounts for roughly a third of its sales. Go said buyers, especially OFWs, were now more discerning of the properties they buy largely because of their exposure to superior standards in First World countries. Federal Land Inc. president Alfred Ty said the anticipated property boom would be different from that of the past decades. Demand for Quality “There is an underlying flight to quality in the growing demand for property,” Ty said. Buyers are more knowledgeable now than they were before and they will go to developers that have a long track record, that build classy units whatever the market level and deliver their products on time.” “With people looking for more quality products, we think the industry's growth will be sustained. The 33-year old property arm of the Metrobank group has been one of the fastest-growing developers of high-rise towers in the country. It has sold two residential towers in Makati City in just three years and delivered the units on time, in sharp contrast to previous property booms that were long on pre-selling but short on delivery of actual units. Gov't Role Despite its political troubles, the Arroyo administration has also contributed to setting the stage for a surge in property demand, Salceda said. Aside from keeping interest rates low through prudent debt management, Salceda said the government was poised to further kick up interest in the real estate sector by jacking up its capital spending by 52 percent next year-the first time in five years that it would be boosting investments in infrastructure. “This should make the 4.2 million housing backlog a real demand,” Salceda said. Hot Demand for Office Space Aside from houses and residential condos, another hot factor in the property sector is the rising demand for office space, with vacancy rates dropping from their peak of 60 percent to between 9 and 15 percent at present. CB Richard Ellis, the worlds largest real estate advisory firm, said robust demand for office space was being driven mainly by relocations of multinational corporations and embassies from Grade B and C buildings and by continued demand from new and expanding call centers, business process outsourcing (BPO) providers, and information technology companies. Bulls Running “Despite medium-term domestic economic concerns, the outlook for the office property sector remains bullish,” CB Richard Ellis said. “Limited supplies of suitable Prime/Grade A office space in the Makati CBD will keep vacancy levels in the single digits for the near and medium term while lease expirations in 2006 will be closely watched as they are expected to impact the amount of available space.” The property adviser noted that demand was not confined to Makati and Ortigas. “Tight supplies of suitable existing office space in Metro Manila is forcing call centers and BPOs with large space requirements to consider locating to areas outside the major central business districts,” said CB Richard Ellis, citing the rising trend toward the construction of more build-to-suit buildings (specially in Alabang and Fort Bonifacio), and the conversion of shopping malls and other types of retail establishments to space suitable for call centers. Leisure and Hotels The property sector is also humming in the leisure and hotel business, with average occupancy rates improving to nearly 75 percent this year from less than 50 percent a few years ago, the highest growth being registered in deluxe suites, according to CB Richard Ellis. Tourism arrivals are on track to hit 2.66 million this year (up by 6 percent from last year), with tourism revenues expected at $2.2 billion (up by 14 percent from last year). With international arrivals predicted to rise by 15 percent next year (in line with the government's goal of having 5 million tourists by 2010), CB Richard Ellis noted an increasing number of foreign investments going into building deluxe hotels and resort facilities. “Out of 7,000 plus islands, only one-fourth are currently developed and many hospitality-related facilities need refurbishment or have yet to be built,” it said.

More info on www.PinoyBroker.com www.PinoyBroker.com www.PinoyBroker.com Newest residential condominium development is inspired by contemporary Asian design where the harmony on indoor and outdoor spaces is paramount. Avida Towers comes with a gurantee of speedy completion, tight 24-hour security service and efficient maintenance services by Ayala Property Management Corporation, the same company that takes care of all Ayala Land developments. Best of all, affordable prices make it a great buy! Community Amenities -Clubhouse -Adult and Kiddie Swimming Pool -Jogging Path -Children's Playground -24-hour Security -Centralized Water Supply -Basketball Court Tower Facilities -Main Lobby -2-Elevator Units -Adequate Emergency Power -Mailbox for each unit -Drying Cage for each unit -Garbage Chute

More info on www.PinoyBroker.com www.PinoyBroker.com www.PinoyBroker.com feb 2005... Cathay Land fast-tracks P5.25-billion satellite city By ROULEE JANE F. CALAYAG, Reporter If South Forbes Golf City appeals to images of manicured fairways, then so be it. "Golf is really the centerpiece, the major attraction of South Forbes Golf City," said Cathay Land President Jeffrey T. Ng in a statement. But the 250-hectare development of the Ng family's Cathay Land, Inc. in the Sta. Rosa-Tagaytay growth area is more than just a place for golfers. There is more than meets the eye in Cathay Land's biggest and most ambitious project to date. The satellite city, with P5.25 billion in investment, is expected to be delivered in 2020, signifying a perfect vision (20/20) for the company. As early as June, Cathay Land will turn over the completed development for a portion of the property as it advanced its target completion to 15 years from an earlier proposed period of 20 years. It expects to finish the golf recreational area by 2007. At the project's launch on Monday, Mr. Ng told reporters that they had completed the four phases of development in the self-sustaining satellite city. "We had started the development of 50 hectares. We will turn over 12 hectares of Bali mansions by July. We are doing it in phases," said Mr. Ng, noting that the funds to be used for the development will mostly be internally generated. The rest will come from proceeds of the sale of subdivision lots. Cathay Land will develop the area by phases. Its South Forbes exclusive residential enclaves will have Bali, Kyoto, and Shanghai mansions -- all keeping an Asian theme, Mediterranean-inspired Villas, Victorian-themed Oxford manors, modern Miami towers -- a group of luxurious condominium buildings, and French-styled country chateaus overlooking the 80-hectare golf course of South Forbes. A Cathay Land marketing agent said a square meter (m2) at Bali Mansions fetches for P11,500. About 200 houses are expected to be built under Bali Mansions. Each house ranges from P4.5 million to P6.5 million. Mr. Ng said they will also be building a 100-room business hotel with a conference center, spa, and wellness center. A cyber park will also rise to accommodate call centers and firms involved in business process outsourcing. The South Forbes cyberpark, envisioned to be a group of modern and sleek office buildings, hopes to lure multinational companies and investors with its capability to host advanced telecommunications and technology facilities. The Harvard Square, which will host the city's own university belt, will make Sta. Rosa, Laguna a center for higher learning south of Metro Manila. The area is hosting branches of the Ateneo de Manila University, De La Salle University, Brent International School and St. Scholatica's College. Learning Links, the first environmental school in Asia, is also based in South Forbes. "We will focus on the south," said Mr. Ng, noting that while his family wants to strengthen their position in the real estate industry, they will not let go of the company's leadership in the steel and ceramics business and other interests. Instead, he said these will all work together to bring residents a kind of distinct urban lifestyle, away from the congested metropolis. Mr. Ng said a business district will rise along the city's main avenue -- the South Boulevard. There will also be various entertainment, dining and shopping stalls in the South Forbes Citywalk, a la Eastwood City in Libis, Quezon City. The average lot at the commercial strip is 1,500 m2. The recreation area, the highlight of the whole development, is expected to bring in more buyers who would be passing by the residential enclaves before they reach the place. The project hopes to reduce excess urbanization in Metro Manila in 15 years. "It will be a city that thrives and one which promotes walking. It will be accessible to schools, offices, recreation centers and just a few minutes' walk from the residential area," said Mike Gascon, a Cathay Land official. Mr. Ng said, "We put our money where our mouth is. We are committed to deliver with our big investment," adding that aside from the middle- and upper-class families, Cathay Land will also target multinationals. "We also get a lot of queries from families of Filipinos overseas," said Mr. Ng. "The area has a lot of potential because it is beside the 400-hectare Laguna Technopark. Together with Ayala Land, Inc., we will create a critical mass which makes sense since Alabang is nearby. We will complement Ayala Land's residential subdivision -- the West Grove." He said buyers in South Forbes will get to enjoy free golf club membership. "We see a lot of synergy between these projects," Mr. Ng said. Cathay Land, founded in 1994, has a 500-hectare landbank in Metro Manila and nearby suburbs. Through a synergy with affiliates in the Cathay Group of Companies such as steel manufacturers Cathay Metal Corp., Amalgamated Iron Works, and Cathay; tile manufacturer Eurotiles Industrial Corp., tile retailer Ceramic Plaza; building materials retailer Federal Hardware; computer retailer PC; and hog raiser Cathay Farms Development, Cathay Land has risen as a strong participant in the real estate industry. Its other projects are the Dynasty Towers in Manila, the 35-storey Astoria Plaza Hotel in Ortigas Center, Pasig City, and the 77-hectare Cavite Light Industrial Park in Carmona, Cavite.

More info on www.PinoyBroker.com www.PinoyBroker.com www.PinoyBroker.com Manila Executive Regency 1200 Jorge Bocobo St., Ermita, City of Manila Sometimes developers have to sacrifice an accessible location for a more peaceful one. We believe; however, that the Manila Executive Regency might have found the balance. In the heart of Manila, where the best of the old and new come together, Cityland once again redefines urban living with the Manila Executive Regency. This 39-storey development promises to be a distinct place for your business or residence. Features and Amenities: Swimming pool Separate sauna for men and women Children’s playground Multi-purpose function room Fitness center Multi-purpose deck / Jogging area CCTV monitors residential lobby 24-hour association security

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Davao City councilor Leo Avila III, chair of the Davao Gulf Management Council (DGMC) said that the appearance of the whales along this site is becoming frequent that they could be seen almost weekly. “This is the result of the consciousness of the people in the barangay as they become vigilant in guarding their waters of illegal activities including disposing of garbage,” he said. Avila said they are contemplating to designate the area as a tourist attraction where whale watching can be undertaken. He said they are coordinating closely with the barangay in documenting the presence of the whales as to frequency and the spots. “We need this as guide in our future plans,” he said. Avila also said that they noticed that dolphins and whales travel to waters where fishes are abundant and it can be seen in the Buhisan area that small fishes and shrimps are aplenty. He said other areas along the Davao Gulf also had sightings of the whales and dolphins and they had given instructions to the local government units to document it so necessary programs could be introduced in the area especially related to tourism. Davao Gulf is the favorite playground of various species of highly migratory cetaceans (dolphins and whales) but in the late 80s to 2000 they cease to appear because food is no longer available, he said. He said there are 11 kinds of cetaceans that could be found in the Davao Gulf. The survey in March 2004 by a composite team from the Department of Agriculture-Bureau of Fisheries and Aquatic Resources, Save the Davao Gulf Foundation and WWF-Philippines confirmed the presence of at least ten whale and dolphin species within the gulf area. In a summary of area profile released by DGMC it said that three species of whales are new record of the gulf and these are the killer whale. Cuvier’s beaked whale, and the rare Indo-pacific beaked whale. With persistent reports of new sightings by fishermen, the Davao Gulf could be among the top cetacean diversity sights in the Philippines. The report also said that eight of the 10 species are listed in CITES – threatened by extinction unless protected or conserved. The earlier recorded sightings were around the southern portion of Ligid Island, Samal Island and south of Barangay Matina in Davao City. (PIA/pdbanzon) Davao City - Experience DavaoExperience the beauty of the Philippines most beautiful and livable city...Davao City. Sun.Star Davao OnlineMILITANT group Bayan Muna lauded the court's decision to conduct a full-blown trial to hear its petition for declaratory relief against the Davao City Water ... DavaoGuide.Com: Everything you want to know about Davao City and ...Everything you want to know about Davao - from history to current events, from hotels to resorts, plus a searchable business directory. 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Manila Executive Regency 1200 Jorge Bocobo St., Ermita, City of Manila Sometimes developers have to sacrifice an accessible location for a more peaceful one. We believe; however, that the Manila Executive Regency might have found the balance. In the heart of Manila, where the best of the old and new come together, Cityland once again redefines urban living with the Manila Executive Regency. This 39-storey development promises to be a distinct place for your business or residence. Features and Amenities: Swimming pool Separate sauna for men and women Children’s playground Multi-purpose function room Fitness center Multi-purpose deck / Jogging area CCTV monitors residential lobby 24-hour association security feb 2005... Cathay Land fast-tracks P5.25-billion satellite city By ROULEE JANE F. CALAYAG, Reporter If South Forbes Golf City appeals to images of manicured fairways, then so be it. "Golf is really the centerpiece, the major attraction of South Forbes Golf City," said Cathay Land President Jeffrey T. Ng in a statement. But the 250-hectare development of the Ng family's Cathay Land, Inc. in the Sta. Rosa-Tagaytay growth area is more than just a place for golfers. There is more than meets the eye in Cathay Land's biggest and most ambitious project to date. The satellite city, with P5.25 billion in investment, is expected to be delivered in 2020, signifying a perfect vision (20/20) for the company. As early as June, Cathay Land will turn over the completed development for a portion of the property as it advanced its target completion to 15 years from an earlier proposed period of 20 years. It expects to finish the golf recreational area by 2007. At the project's launch on Monday, Mr. Ng told reporters that they had completed the four phases of development in the self-sustaining satellite city. "We had started the development of 50 hectares. We will turn over 12 hectares of Bali mansions by July. We are doing it in phases," said Mr. Ng, noting that the funds to be used for the development will mostly be internally generated. The rest will come from proceeds of the sale of subdivision lots. Cathay Land will develop the area by phases. Its South Forbes exclusive residential enclaves will have Bali, Kyoto, and Shanghai mansions -- all keeping an Asian theme, Mediterranean-inspired Villas, Victorian-themed Oxford manors, modern Miami towers -- a group of luxurious condominium buildings, and French-styled country chateaus overlooking the 80-hectare golf course of South Forbes. A Cathay Land marketing agent said a square meter (m2) at Bali Mansions fetches for P11,500. About 200 houses are expected to be built under Bali Mansions. Each house ranges from P4.5 million to P6.5 million. Mr. Ng said they will also be building a 100-room business hotel with a conference center, spa, and wellness center. A cyber park will also rise to accommodate call centers and firms involved in business process outsourcing. The South Forbes cyberpark, envisioned to be a group of modern and sleek office buildings, hopes to lure multinational companies and investors with its capability to host advanced telecommunications and technology facilities. The Harvard Square, which will host the city's own university belt, will make Sta. Rosa, Laguna a center for higher learning south of Metro Manila. The area is hosting branches of the Ateneo de Manila University, De La Salle University, Brent International School and St. Scholatica's College. Learning Links, the first environmental school in Asia, is also based in South Forbes. "We will focus on the south," said Mr. Ng, noting that while his family wants to strengthen their position in the real estate industry, they will not let go of the company's leadership in the steel and ceramics business and other interests. Instead, he said these will all work together to bring residents a kind of distinct urban lifestyle, away from the congested metropolis. Mr. Ng said a business district will rise along the city's main avenue -- the South Boulevard. There will also be various entertainment, dining and shopping stalls in the South Forbes Citywalk, a la Eastwood City in Libis, Quezon City. The average lot at the commercial strip is 1,500 m2. The recreation area, the highlight of the whole development, is expected to bring in more buyers who would be passing by the residential enclaves before they reach the place. The project hopes to reduce excess urbanization in Metro Manila in 15 years. "It will be a city that thrives and one which promotes walking. It will be accessible to schools, offices, recreation centers and just a few minutes' walk from the residential area," said Mike Gascon, a Cathay Land official. Mr. Ng said, "We put our money where our mouth is. We are committed to deliver with our big investment," adding that aside from the middle- and upper-class families, Cathay Land will also target multinationals. "We also get a lot of queries from families of Filipinos overseas," said Mr. Ng. "The area has a lot of potential because it is beside the 400-hectare Laguna Technopark. Together with Ayala Land, Inc., we will create a critical mass which makes sense since Alabang is nearby. We will complement Ayala Land's residential subdivision -- the West Grove." He said buyers in South Forbes will get to enjoy free golf club membership. "We see a lot of synergy between these projects," Mr. Ng said. Cathay Land, founded in 1994, has a 500-hectare landbank in Metro Manila and nearby suburbs. Through a synergy with affiliates in the Cathay Group of Companies such as steel manufacturers Cathay Metal Corp., Amalgamated Iron Works, and Cathay; tile manufacturer Eurotiles Industrial Corp., tile retailer Ceramic Plaza; building materials retailer Federal Hardware; computer retailer PC; and hog raiser Cathay Farms Development, Cathay Land has risen as a strong participant in the real estate industry. Its other projects are the Dynasty Towers in Manila, the 35-storey Astoria Plaza Hotel in Ortigas Center, Pasig City, and the 77-hectare Cavite Light Industrial Park in Carmona, Cavite. Newest residential condominium development is inspired by contemporary Asian design where the harmony on indoor and outdoor spaces is paramount. Avida Towers comes with a gurantee of speedy completion, tight 24-hour security service and efficient maintenance services by Ayala Property Management Corporation, the same company that takes care of all Ayala Land developments. Best of all, affordable prices make it a great buy! Community Amenities -Clubhouse -Adult and Kiddie Swimming Pool -Jogging Path -Children's Playground -24-hour Security -Centralized Water Supply -Basketball Court Tower Facilities -Main Lobby -2-Elevator Units -Adequate Emergency Power -Mailbox for each unit -Drying Cage for each unit -Garbage Chute Vol. XIX, No. 157 Thursday, March 02, 2006 | MANILA, PHILIPPINES Property & Infrastructure Community Innovations starts Celadon Residences San Lazaro Artist’s perspective of the Celadon Residences Community Innovations, Inc., an Ayala Land, Inc. subsidiary, recently launched its newest development, the Celadon Residences San Lazaro. Celadon Residences San Lazaro is a 4.2-hectare village 20 minutes by car from Binondo. The project is along A. H. Lacson (formerly Gov. Forbes) in Sta. Cruz, Manila. Designed to be an exclusive community, the project offers 200 Mediterranean-style townhouse units grouped in clusters. Buyers may choose from three types, with floor areas ranging from 168 to 204 square meters, depending on their needs. All townhouse unit types will have three bedrooms and pocket gardens on the ground floor that will allow homeowners the rare chance to bring in a piece of the outdoors. The added option of a guest room/home office affords the residents more space.

SM Development income up 11.4% to P139M The Philippine Star - 2005-08-29 SM Development Corp.(SMDC), the property arm of the SM Group of companies, posted a net income of P139 million in the first six months of the year, an increase of 11.4percent from the previous year’s level of P125 million. Revenues, however, fell 19 percent to P190 million from P235 million a year ago. Of the total, P65.6 million came from interest on fixed-income investments. Another P51.2 million came from the sale of investments in marketable securities. Other sources of revenues were real estate sales at P35 million, dividend income of p34 million, and miscellaneous income of P4 million. SMDC president and chief operating officer Rogelio Cabunag said while bulk of revenues still comes from investments portfolio, this revenue earner will become secondary to rising real estate sales in the years to come. Cluster 1 of Chateau Elysee, the first property venture subsidiary of SM Synergy Holdings, is ready for occupancy, with total of 384 units. Cluster 2, which has another 384 units, will be turned over to the owners by February 2006. The project will have four other clusters surrounding a clubhouse that offers complete amenities such as a swimming pool, jogging trail and a social hall. The clubhouse is set to be completed in September. About P1.5 billion has been earmarked this year for the Chateau Elysee venture. Apart from this, SMDC is developing another residential condominium project right across SM City Sta. Mesa. The project, called The Centerpointe Residences, is expected to be launched in November. SMDC has also forged an agreement with state pension fund Government Service Insurance System for the development of a residential condominium in baguio City. To be called Baguio Residences, the project is envisioned as a condotel, servicing residents and visitors of the summer capital. -Zinnia B. Dela Peña

SM property unit allocates fund for three new projects Cai U. Ordinario - 2005-12-19 The Manila Times SM Development Corp., the real-estate unit of the SM Group of Companies, plans to set aside a bigger amount for three big projects next year. Rogelio R. Cabunag, SMDC president, said the company will raise its capital expenditures to P1 billion next year from its less-than-a-billion pesos spending bill this year if all three projects push through.. The three projects are the Hacienda Looc, the next two towers of Chateau Elyseé, and a venture near SM Centerpoint that has yet to be named. For that project, the company will forge a joint venture with affiliate bank, Banco de Oro, which owns the property on which sits the Centerpoint shopping mall. Under the joint venture, SMDC will develop the 1.4- to 1.5-hectare lot for commercial and residential purposes. Set for launch in the first quarter, the project is expected for completion by end of 2006. Cabunag said the project is aimed at the middle- to upper middle market. The project will be a mixed-use development, with four towers of 30 stories each. The first four to five stories will house the commercial development, while the remaining floor will be reserved for residential units. Cabunag said the commercial aspect has yet to be decided upon, but stressed it won’t be a shopping mall. [so if it's not a shopping mall, then what could it possibly be??? -Aaron/Thomasian] On Hacienda Looc, the company is undertaking changes in the project design, Cabunag said, adding a launch may happen next year. Located on a 5,000-hectare property in Batangas, the P2- to P3-billion project’s first phase includes leisure amenities such as a clubhouse, swimming pools, and golf course. As for Chateau, the company plans to start construction of the next two phases next year. To date, two phases and a clubhouse have been completed. Cabunag said the company will turn over the units of the second phase to the owners by February next year. The project master plan provides for six phases. Chateau is a six-cluster residential condominium project in Bicutan, Taguig.

some news found in the net... From the country’s most respected names in retailing and mall development comes a project that’s soon to be a by-word in condominium living—the Mezza Residences. Situated at Aurora Boulevard corner Araneta and Guirayan Streets in the heart of Quezon City, the impressive Mezza Residences has four, 38-storey residential towers. Offering one-bedroom, two-bedroom, three-bedroom, and suite units with introductory prices ranging from one to five million, Mezza Residences is suited for young professionals yearning for their first taste of independence or starting-out families seeking a place to call home. [COLOR=red][SIZE=5]email us at: mezza@pinoybroker.com[/SIZE][/COLOR] “Mezza Residences is metropolis living at its most convenient,” shares Julie Jalandoni, Assistant Vice President for Sales and Marketing of SM Development Corporation (SMDC). “Everything one can ever need is right here, thus saving on gas, energy, and precious time. We really had the lifestyle of today’s urbanites in mind in developing this project – addressing as many of their living requirements.” Each tower has three high-speed elevators and three parking levels. A total of 810 covered and open parking slots are available. There is a main lobby in each tower and a welcome lobby on each floor as well. An individual laundry drying area for each unit and a centralized garbage collection and disposal system are provided for added convenience. Supported by the SM Group of Companies and Banco de Oro, Mezza Residences allows you to enjoy a wide variety of activities all under one roof. Cafes, service, and retail establishments are conveniently located at the Podium at the ground and second level. “Everyone can go home and do all their shopping right here. Young urbanites can dine out and have a good time with their friends,” adds Jalandoni. “Mezza truly finds its hallmark on convenience. But more than just that, SMDC puts this together in a great package with well-planned floor areas and generous open spaces.” Mezza Residences takes pride in its lush greens. Unique to this project is its sprawling 1,000 square meter lawn—an inviting place where families can have a picnic, play catch with the kids, or take an afternoon nap. Giving importance to healthy living, a Zen-inspired garden with a meditation area and a reflexology path relaxes the mind and spirit of the weariest urban dweller. Kids can soak up the sun in the kiddie pool while elders can stay fit by lapping the the 25-meter lap pool. Here at Mezza Residences, it’s all about living the city life to the fullest. A short distance away from the Central Colleges of the Philippines, the Immaculate Heart of Mary College, the UERM Hospital, the UERM Memorial Medical Center, the LRT 2 Sta. Mesa Station, and the bustling Araneta area, everything indeed is within your reach. The Mezza Residences is a project of the SMDC. [COLOR=red][SIZE=5]email us at: mezza@pinoybroker.com[/SIZE][/COLOR]

A condominium is a form of home ownership in which individual units of a larger complex are sold, not rented. These units may be renovated apartments, townhouses or even commercial warehouses. Contrary to popular belief, the word 'condominium' does not apply to the type of unit itself, but the legal ownership arrangement. Any multi-unit structure can 'go condominium', meaning occupants must either vacate the premises or purchase their apartments outright. Those who purchase units in a condominium technically own everything from their walls inward. All of the individual homeowners have shared rights to most common areas, such as the elevators, hallways, pools and club houses. Maintenance of these areas becomes the responsibility of a condominium association. Every owner owns a share of interest in the condominium association, plus an obligation to pay monthly dues or special assessment fees for larger maintenance problems. A condominium arrangement is not the best option for every potential homeowner. There can be a noticeable lack of privacy in the common areas--the pool must be shared with every other condominium owner, for example. Those who would prefer to own all of their amenities and maintain their own lawn and garden may want to pursue single home ownership options instead of a condominium. It can also be more difficult to sell a condominium unit as opposed to a home with acreage. Condo owners only own their units, not the ground beneath them. Those who may benefit the most from condominium living are veteran apartment renters who don't mind having close neighbors. Others may not want to be bothered with external maintenance or the responsibility of lawn care. The overall price of a condominium townhouse may be much lower than an equivalent single-unit home. Buying a condominium does allow equity to build, unlike paying monthly rent in an apartment complex. One thing to be aware of when living in a condominium setting is the political reality of an owners' association. Decisions may be made in monthly meetings which will cost individual owners more money, but not necessarily deliver equal benefits for all. It can be nearly impossible to avoid being affected by at least one condo board decision, so active participation in meetings and discussions may be more compulsory than you might expect. Condominium living may be more advantageous financially than apartment rentals, but it does require more active participation in community events.