The GB Code, a Referral Code of the National Building Code (Presidential Decree No. 1096) was launched on June 25 this year by the Department of Public Works and Highways (DPWH), with the assistance of the World Bank-IFC, and the technical support of the Philippine Green Building Initiative (PGBI). The latter is composed of accredited professional organizations in the building industry.


​Here are excerpts of the GB Code:
The general provisions of the Code provide for the protection of the people from the harmful effects of climate change. The Code seeks to improve the efficiency of building performance through a framework of standards that will enhance sound environmental and resource management to counter harmful gases, throughout the building’s life cycle, including efficient use of materials, site selection, planning, design, construction, use, occupancy, operation and maintenance, without significant increase in cost.

The technical professionals, developers, contractors, property managers and building owners involved in the planning, design, construction and management of buildings have the opportunity and the responsibility to help the government address the adverse effects of climate change by ensuring that buildings are planned, designed, constructed, operated and maintained to the required efficiency levels.

Resources must be used efficiently to equitably meet the developmental and environmental needs of the present and future generations.

Occupants of green buildings will benefit from improved indoor environmental quality, which promises higher productivity and better comfort.

Period review
The GB Code adopts a staggered or incremental approach and is subject to periodic review of the DPWH secretary through the National Building Code Development Office to modify or include new aspects and emerging efficient technologies and to expand the coverage to other building use/occupancy, or to replace outmoded measures.
For a start, the GB Code will apply to all new construction and/or with alteration of buildings with a minimum total gross floor area (TGFA) as follows:

• Residential condominium,     20,000   sqm
• Hotel/resort,             10,000 sqm
• Educational school,   10,000 sqm
• Institutional hospital, 10,000 sqm
• Business office,           10,000 sqm
• Mercantile mall,         15,000 sqm
• Mixed occupancy,       10,000 sqm

The Code does not apply to buildings of the above use/occupancy classification constructed before its effectivity. When alterations, additions, conversions and renovations of existing buildings constructed after the effectivity of the Code fit with the minimum TGFA above, the whole building shall be subject to the applicable provisions of the GB Code.

Cut down energy use
Since half of the energy bill goes to air-conditioning, buildings with air-conditioning systems will be required to adopt efficient practices, designs, methods and technologies to cut down energy use.

Glass transfers more heat, so the amount of glazing is ideally reduced with respect to the wall size to bring down heat gain inside the building.

The required wall-to-window ratio or WWR needs to be balanced with the amount of daylight coming through the glazed area.

Solar heat gain coefficient or SHGC will be determined by dividing the amount of solar heat passing through the glass by the total solar radiation incident on the glass. The higher the WWR, the lower SHGC required in glass windows.

Visible light transmittance (VLT) will be used to determine the amount of light transmitted through the glass.

Natural ventilation to ensure free cooling and fresh air will be provided by the computation of size of operable window openings to floor area of at least 10 percent.

Roof insulation will be a must, and in amounts corresponding to the roof color. White roofs have a solar reflectance index (SRI) of 92, while dark colors have an SRI of 0-33.

Mechanical systems, especially the cooling systems or chillers of large buildings, will have to meet minimum efficiency requirements.

Daylight-controlled lighting systems include photoelectric sensors connected to luminaries which help to dim or switch lamps when there is sufficient daylight.

Efficient water fixtures will be used to comply with maximum water flow rates of different fixtures. Rainwater harvesting from roofs and hardscape is a must for nonpotable use.

Nontoxic building materials are those without hazardous effects on building occupants. They will be checked for volatile organic compounds or VOCs, which should be within tolerable levels.

A materials recovery facility will be required for the collection and segregation of solid waste. Hospitals will be required to have isolated bins for hazardous wastes.

Indoor environmental quality standards will require strict adoption of efficient design and operation practices to protect building occupants’ health, productivity and safety. The Tobacco Regulations Act restricts tobacco smoking in public spaces and the prescription of designated smoking areas inside buildings.

The Housing and Urban Development Coordinating Council (HUDCC) approved HUDCC Resolution No. 2, Series of 2015 on June 8, 2015, increasing the Economic Housing loan ceiling from P1,250,000.00 to P1,700,000.00. The said resolution was published in The Philippine Star (print and digital edition) last July 14, 2015.
 
What are the implications of this increase in loan ceiling?
My first thought was that more developers would be willing to produce units under economic housing since the threshold is now P1.7M. According to this article, the Philippines has a housing backlog of 5.5 million houses, and 60% of the housing needs are for socialized and economic houses.
​
I found a link to the Philippine Housing Industry Roadmap: 2012-2030 prepared by the Subdivision and Housing Developers Association, Inc. (SHDA) and I was happy to know that developers are working towards filling the backlog.

Aside from responding to the people’s housing needs, the developers will also be earning a handsome sum since socialized and economic housing projects are part of the 2014 Investment Priorities Plan (IPP) activities which may be granted an Income Tax Holiday (ITH) of 3 to 4 years. Considering that the corporate income tax rate is thirty percent (30%), the ITH incentive is significant. No wonder big developers all have their socialized and economic housing brands (like Amaia and Bella Vita for the Ayala Group).

I read the 2014 IPP again though and noted that socialized and economic housing for purposes of the IPP was above P450,000 up to P3M so it appears that the increase in loan ceiling as per HUDCC Resolution No. 2, Series of 2015 has no effect on the ITH.
​
With regard to construction standards for socialized and economic housing, the same standards under BP 220 will still apply.

Good news for those who would like to take the real estate brokers’ exam even without having a real estate management degree! PRBRES Chairman E. G. Ong has announced that there will be another real estate brokers’ exam in the first quarter of 2016, but only for those who took the May 24, 2015 exam but did not make it (around 5,150 people). ​

What went up, and what went down in the property sector? Inquirer Property sums up the first five months of 2015 of the Philippine property sector:

1 Continuous growth amid Asean integration. The country’s property sector showed continuous growth in the first five months, mainly due to a favorable business climate, low inflation, robust performance of the business process outsourcing (BPO) sector, and continuous remittances from overseas Filipinos which have boosted the residential, retail, office, industrial and hospitality sectors. The supply and demand of these segments remained positive, especially with the upcoming Asean (Association of Southeast Asian Nations) integration,” said CB Richard Ellis (CBRE) Philippines.

2 BPO fuels residential, office segments. Enrique M. Soriano III, Ateneo program director for real estate and senior adviser for Wong+Bernstein Business Advisory, said that “from all indications, the growth was fueled in large part by the strong showing of the BPO sector.” He added that “the increasing demand has also given birth to the preselling of office spaces at the Bonifacio Global City in Taguig and accelerated the construction timelines of new offices and mixed used developments.”

Claro dG. Cordero Jr., head of research, consulting and valuation of Jones Lang LaSalle Philippines Inc., said: “The continued expansion of companies within the business process outsourcing/offshoring and outsourcing continued to drive takeup of office spaces in the first five months of 2015. Grade ‘A’ office rents have also gone up by 1 percent in the first three months of 2015. Despite the number of newly completed developments, the combined markets of luxury and high mid-end residential condominium market posted a decline in vacancy rates in the first three months of 2015. Average rental rates in shopping mall complexes also exhibited moderate increase in 1Q 2015, while vacancy rates similarly went down.”

CBRE Philippines observed that “the expansion of the BPO industry also stimulated activity in the residential sector, aside from remittances from OFWs.”

The office segment has also gone up due to BPO activities. “With the Philippines being ranked as having the second top BPO cities in the world, the strong demand from the BPO sector is spicing up the office segment,” said CBRE.

3 Healthy numbers in the retail, hospitality sectors. “The retail and hospitality sectors, on the other hand, are also mostly driven by a good flow of remittances that fuel consumer spending and the tourism sector,” said CBRE.

4 Industrial sector going global. “The expansion of foreign manufacturing firms in the country was the main driver for the industrial sector, as more international companies are moving their facilities in the Philippines,” said CBRE.

5 Upbeat market with major players showing double-digit growth. Soriano said: “The market was surprisingly upbeat in the first half of 2015 for the Philippine property sector. Despite the concerns I raised about a possible oversupply in some asset classes this year, and the waning appetite of foreign investors, the sector has defied expectations as the growth curve continues its growth momentum.”

He added, “The other upside is that most of the major players registered double-digit growth.”


By:  Tessa R. Salazar/ http://business.inquirer.net

CRISES in the Middle East and the euro zone may gravely hold back growth in the residential-condominium market, Jones Lang Lasalle Inc. (JLL) Philippines Inc. Research Head Claro Cordero said.

Specifically, economic and political crises in these regions will have a direct threat to the livelihood and remittance capacity of overseas Filipino workers (OFWs) living in those areas, he said. OFW remittances are one of the main drivers of demand in this sector, Cordero said.

“Those with high probability of happening and with potential great ramifications for the sectors should, by our opinion, be addressed with a higher degree of priority,” he said.

The executive cited the recent crisis in Greece, saying that it shook the global economy and that it will affect the local property sector if the aftermath of the crisis endures.

“The impact on the Philippines may not be felt immediately, but since Europe is home to a significant number of overseas Filipinos, if the crisis continues, we’re likely to see some effects on the property sector,” he said.

But aside from the conflicts, other potential threats to the residential market in the country include its poor infrastructure and next year’s presidential elections.

The constant delay of public-private partnership projects could prevent the growth of the market in the long run because of “the inefficiency of the country’s infrastructure system,” Cordero said.

“In order to sustain the growth we are currently enjoying, the infrastructure system needs to be properly placed,” he noted. Also, the new leadership the country will be subject to in the next year bears negative effects on the residential market, as well, JLL Regional Director Lindsay Orr said.

“It probably will [slow down investments] because, typically, people have a wait-and-see mentality,” he said.

“It won’t mean foreign direct investments will dry up, but I think beginning 2016, there should be a slowing down.”

JLL reported that from more than $2 billion worth of foreign direct investments (FDI) in 2009, FDI dropped to a little under $2 billion at the outset of President Benigno Aquino III’s term in 2010.

The beginning of former President Joseph Ejercito Estrada’s term, however, met with a total of $2.2 billion worth of FDI in 1998, rising from some $1 billion in 1997.

FDI at the start of Arroyo’s term also increased to $0.6 billion in 2004 compared to 2003, but only slightly.

Orr said the reason for the slowdown is foreign investors are cautious of how the new leader will handle the country’s economic reforms, government spending, tax incentives, investment transparency and governance.

Risks such as the ongoing territorial issues with China, the “ever-lingering threat of natural calamities,” and Bangko Sentral ng Pilipinas’s (BSP) measures, which may curb residential demand, could also slow down the residential market, according to JLL.

However, amid these challenges are opportunities such as the integration of the economies of all the 10 member-states of the Association of Southeast Asian Nations as investors from Singapore, Malaysia and Indonesia are eyeing the Philippines for opportunities.
​
“Global events are potential risks and opportunities for the residential market; however, our local economic outlook is expected to support the residential market,” Cordero said.


By:  Justine Anjanique P. Jordan / Special to the Business Mirror http://www.businessmirror.com.ph
​

Cebu LGU sell SRP assets for P16.7 billion
For south road properties: Rama thanks Tomas, Alvin
By Jean Marvette A. Demecillo (The Freeman) | http://www.philstar.com/cebu-news

CEBU, Philippines - In a move that caught many by surprise, Cebu City Mayor Michael Rama thanked his archenemy, former congressman Tomas Osmeña, for pushing for the establishment of the South Road Properties when he was still mayor, an initiative that is now bearing fruit for the city.

During his State of the City Address (SOCA) at the Plaza Independencia yesterday afternoon, Rama said the SRP is the “best gift to the people of Cebu City.”

Aside from Osmeña, Rama also thanked former mayor Alvin Garcia, another of Osmeña’s erstwhile friends.

Garcia succeeded Osmeña as Cebu City mayor in 1995 and served for two terms.

Garcia was present yesterday and went up the stage together with Rama’s political allies in the City Council and City Hall department heads.

Speaking to a crowd of 30,000, Rama said history should never be forgotten.

“We were there. I was a part.We worked so hard. We joined with him (Osmeña) in the trip. Well, it’s just unfortunate that he’s not part of this occasion now because we parted ways, but it doesn’t mean that I lose track,” Rama said.

Rama and Osmeña were allies in Bando Osmeña Pundok Kauswagan (BOPK) before Rama left in 2011 to form Team Rama. He beat Osmeña for mayor in the 2013 polls.

“History should never be forgotten, if we do not know how to thank, it would mean transferring to my children to other children, kanang giingon nga walay batasan,” Rama said.

He admitted, though, not inviting Osmeña to yesterday’s event.

City Councilor Richard Osmeña, another former BOPK member, said he salutes Rama for acknowledging Osmeña, his uncle, stressing that the latter is the “brainchild behind SRP.”

Sought for his comment, Osmeña told The FREEMAN that “he (Rama) thinks I did it for him because he, Cuenco (former Congressman Tony Cuenco) and Alvin (former Mayor Alvin Garcia) have no vision.”

Last Tuesday, the city earned at least P1.6 billion from the bid security bond of the declared highest bidders for the sale of a total of 45 hectares at the SRP. 

On June 30, the city’s Committee on Awards declared the consortium of Ayala Land, Cebu Holdings Inc. and SM Prime Holdings as the highest bidder with P10.009 billion for a 26.3-hectare property, while Filinvest Land Inc. was the highest bidder with P6.7 billion for a 19.2-hectare property.

DEBT FREE
Also yesterday, Rama announced that the city is gearing to pay its debt on the SRP with the P16.7 billion it will earn from recent sale.

The city government is expected to get P9.15 billion this year with the remaining balance expected to be paid in two to three years.

The city took a P4 billion loan from Japan to establish the 300-hectare SRP. The loan is payable in 25 years and amortization payments, made twice a year, will continue until 2025.

The city government has been paying the loan at P500 million to P550 million a year. It has a balance of at least P3 billion.

Rama said the loan should not be prolonged.

“After this new development, gearing towards, no hitches in between, we will bring Cebu City free from debts. It will now be bringing us to spend all, without having to think of the P500 million every year as debt servicing,” Rama said, emphasizing that the city has collectibles from investors, business taxes, real property taxes, among others.

GOOD NEWS
Rama announced that senior citizens will receive their P2,000 financial assistance on Thursday. This will be the third tranche for this year totaling to P5,000 out of P12,000 for the whole year.

Meanwhile, persons with disabilities will get P1,000 on Tuesday, the se-cond tranche for the P5,000 yearly aid.
Honoraria for barangay officials will be given on Wednesday.

Rama also announced that the productivity enhancement incentives for qualified City Hall emplo-yees will be distributed next month after the City Council approves the First Supplemental Budget for 2015.

PRESENT
Aside from city officials, the Gutierrez family led by Rama’s cousin, Annabelle, graced yesterday’s SOCA. With Annabelle were husband Eddie and son Richard. 

Also spotted among the guests was Catbalogan Mayor Stephanie Uy-Tan. Cebu City has since been providing relief assistance to Catbalogan.

Former congressman Tony Cuenco and over 50 barangay captains were also present.

The city also invited several street children, youth leaders and members of different organizations, senior citizens, persons with disabilities, organizations of vendors, police personnel, barangay workers also attended the event.--
​/jmo (FREEMAN)

Metro Gaisano develops waterfront township in Cebu
The 20-hectare township will include a central linear park, al-fresco establishments and a waterfront promenade
http://www.rappler.com/business/industries/175-real-estate/98369-metro-gaisano-hongkong-land-township

MANILA, Philippines – Metro Gaisano’s real estate company Taft Properties and Asia’s premier real estate developer and investment group Hongkong Land partnered to develop the first waterfront township in Mandaue City, Cebu.

Although the real estate developer did not say when it will be finished and how much it is earmarked for the project, Metro Gaisano said the waterfront township will occupy a 20-hectare prime property right along the Mactan Channel.

“This partnership will help jumpstart Mandaue City’s transformation into a dynamic lifestyle hub,” Jack Gaisano, Chairman of Taft Properties, said in a statement.

“With Taft Properties’ local expertise and Hongkong Land’s international experience, this alliance will bring in new standards in design and construction while being in keeping with the local culture and tastes.” Gaisano added.

A portion of the township will be allotted for open spaces such as a central linear park, al-fresco establishments and a waterfront promenade.

“We are committed to creating an environmentally and economically sustainable community. The development will create jobs, and provide a significant stimulus to Cebu’s economy,” Tan Wee Hsien, Hongkong Land head of Residential Property for South Asia, said Hongkong Land owns and manages almost 800,000 square meters of prime office and luxury retail property in key Asian cities, principally in Hong Kong and Singapore.

Hongkong Land is also developing a number of largely residential projects, in cities across Greater China and Southeast Asia. Hongkong Land Holdings Limited is incorporated in Bermuda and has a standard listing on the London Stock Exchange as its primary listing, with secondary listings in Bermuda and Singapore.
​
Metro Gaisano’s retail arm Metro Retail has a network of 44 stores comprised of department stores, hypermarkets and supermarkets. Half of its store network is in Cebu. – Rappler.com

Cokaliong family: From textiles, shipping to hotels
By: Irene R. Sino Cruz/ http://business.inquirer.net/194595/cokaliong-family-from-textiles-shipping-to-hotels

​CEBU CITY—The Cokaliong family has come a long way in the world of business.

From textile and shipping, it is now into the hotel business and has become a major player in the Cebu tourism space.
The family’s Bayfront Hotel Cebu, which opened its doors in September last year, aims to serve the mid-level market, says Charlton Cokaliong, managing director of the family-owned Christerton Properties Inc.

Even as the family’s textile and shipping businesses has remained strong, the Cokaliongs continued to look for other opportunities and saw that there was a lack of accommodation facilities that cater to the mid-range market in the port area.

The family then looked at the possibility of building a hotel there.

Charlton says it took the family several years before finally deciding to build the 168-room Bayfront Hotel Cebu.

First, he conducted market studies and research, then analyzed the information he had gathered.

The market studies confirmed their hunch that there was a need for mid-range tourist accommodation facilities in the port area.

Before the Bayfront Hotel was built, there were two hotels in the area—the Radisson Hotel, which offers five-star accommodation, and budget hotel Sugbutel.

Confident they could compete against these hotels, the family decided to put in a sizeable investment in the construction of the hotel.

The performance of Bayfront since it started operations on Sept. 7, 2014 proved that the family’s decision to invest in the hotel industry was correct.

The hotel has an average occupancy rate of 85 percent, which is quite good, he says.

Of Bayfront guests, 50 to 60 percent are domestic travelers and 30 to 40 percent are foreigners, mostly Japanese.

Bayfront initially focused its marketing campaign on the local market but later expanded to foreign markets.

It also invested in proper training of front office personnel and it has been paying off.

The hotel was given an 8.6/10 rating by the Amsterdam-based Booking.com, which also gave the hotel the 2014 Award of Excellence, according to Charlton.

A search for Cebu hotels will also show that Bayfront Hotel Cebu is on the first page of the Agoda website, he adds.

Bayfront Hotel Cebu is only a few steps from a major shopping mall, a few minutes away from the Cebu City port and a 20-minute-drive from the Mactan-Cebu International Airport.

With demand for function rooms growing, he says more functions rooms will be added.

Aside from the hotel’s ballroom on the 5th floor, Bayfront is developing the 2nd floor to provide more space for meetings.

The ballroom can accommodate about 300 people while the additional function areas on the second floor will have a combined capacity of 350.

The hotel is the latest in the Cokaliong family’s line of entrepreneurial ventures that starts with Chester Enterprises Inc., a textile company started in 1966 by Edgar and Gregoria Cokaliong.

The company supplies the textile requirements of garment companies and micro-enterprises in the Visayas and Mindanao.

From just being a textile wholesaler and retailer, Chester Enterprises expanded its operations in the 1990s, making available ready-to-wear garments, such as T-shirts and jeans.

The company also imports textile products from different countries, such as Taiwan, Bangkok, Korea and Indonesia, to provide its customers with wider choices.

In 2000, Chester Enterprises, targeting the school and industry uniform market, made available its own Amigo T-shirt.

Then in April 2003, the family set up Gregoria’s Curtains and Trims Haus, named after the family matriarch.

The company opened a showroom at SM City Cebu to make its products more accessible to consumers.

The showroom carried home furnishing fabrics for curtains, upholstery, bedsheets and linens.

In 1989, through the eldest son, Chester, the family established its shipping company, Cokaliong Shipping Lines Inc. that serves several routes in the Visayas and Mindanao.

Chester is the chief executive officer, chief operating officer and founder of the Cokaliong Shipping Lines.

At present, the shipping company operates 10 passenger and cargo vessels, serving Cebu, Dumaguete City, Iloilo, Jagna and Tagbilaran City in Bohol, Maasin and Palompon in Leyte, Calbayog City in Samar, Dapitan City in Zamboanga del Norte, Iligan City in Lanao del Norte, Nasipit in Agusan del Norte, Ozamis City in Misamis Occidental and Surigao. The company also has one tugboat.

Charlton, an accountant by profession, credits his mother, Gregoria, for developing the family’s work ethic.

He says he and his siblings were still young when they started helping out in the family’s textile business.

Charlton says his mother has always preached the value of hard work.

The family matriarch, in turn, took after her parents, Paulino Cue and Julita Lee, who operated the Sen Hiap Hing Department Store, a popular store in the 1950s and a pioneer in retail distribution in Cebu.

Gregoria, who graduated cum laude in 1958 from the University of the Philippines in Diliman with a Bachelor of Science in Mathematics, passed on that entrepreneurial spirit to her children, says Charlton.

He and his brothers, Chester and Christopher, were also brought up with the values needed to make a success out of often risky business ventures.

This valuable training prepared them to take on various positions in the family businesses, according to Charlton, who still works in the family’s textile business.
​
It has also prepared the Cokaliongs well to bring the family corporation to the next level.

FLI to develop commercial and residential projects in SRP
By Carlo S. Lorenciana (The Freeman) | http://www.philstar.com/cebu-business

CEBU, Philippines - Filinvest Land Inc will build both commercial and residential projects in the 19.2-hectare lot at the South Road Properties it just won for P6.76 billion in a recent bidding by the Cebu City government, an official said.

Joseph Yap, president of FLI affiliate Cyberzone Properties Inc, said that based on the city government’s terms of reference, 70% of the property will be for commercial and office use while the 30% will be for residential use.

Yap told The FREEMAN yesterday that the company’s future commercial developments will probably be located in that SRP ecozone lot.

The company is also currently developing the 50.6-hectare City di Mare at the SRP. 

A consortium of property giants SM Prime Holdings and Ayala Land Inc also won the deal, in the same bidding, to develop a 26.3-hectare property at the SRP for P10 billion.

The 300-hectare SRP which the city government developed through an overseas development assistance package was granted a Special Economic Zone status by the Philippine Economic Zone Authority.

The reclaimed property has now evolved into a mixed-use lot, although it was originally aimed to locate export-oriented light industries.

COMPLETION
On another matter, Yap also revealed the developer has projected to complete its P5-billion Cyberzone project at the Cebu IT Park by 2018 or 2019.

Yesterday, the wall separating the Cyberzone and IT Park was finally broke down after FLI and Ayala-led Cebu Property Ventures and Development Corp reached to an agreement, with the Cebu provincial government being the mediator.
​
Yap said this new development would attract more locators for the firm’s four-tower business complex which is its joint project with the provincial government.

The official noted operations in the completed first tower might start next month, saying 40% of the building has already been leased out to a BPO company. (FREEMAN)
​

Cebu Landmasters announces new development
http://www.sunstar.com.ph/cebu/business/2015/07/02/cebu-landmasters-announces-new-development-416613

CEBU Landmasters, Inc. (CLI) is set to develop its newest project in the heart of Cebu City at a neighborhood that stands as a landmark for the Cebuanos, the Base Line Center.

From a former recreational and sports facility over the past decades, Base Line Center will have four towers that will be built in two phases, disclosed Jose Franco B. Soberano, CLI chief operating officer.

This development comes in the heels of the completion of Baseline Residences located adjacent towards the south of Base Line Center along Juana Osmeña St. in Cebu City.

The first phase of the project includes two towers that feature a commercial area with grocery store and food and retail outlets.

Base Line HQ will be a 21-storey office condominium, a better option for business owners and investors seeking the advantage of operating from the heart of Cebu City.

With the third to the eighth floors meant for offices, the ninth floor and the succeeding levels have been designated for condotel units that will be operated as serviced residences. Both offices and residences will have separate lobby access.
Base Line Premier, on the other hand, will be a 27-storey residential condominium designed with contemporary architecture to maximize the best views of midtown Cebu with the units designed for flexible interior configuration.

Base Line Center will be the only modern hub midtown that is close to the seat of governance in Cebu City and Cebu Province as well as to commercial establishments, universities, hospitals and churches within just a kilometer radius.
“Base Line Center is meant for what will be the way of living in the near future,” said Brian Mayol, CLI marketing manager.

Base Line Center is designed to be aesthetically unique to reflect a modern environmentally friendly look. Careful consideration is placed in the site’s developmental plan, providing multiple access points to create efficient vehicle and pedestrian circulation. (PR)An interior road looping around the property ensures convenience and easy access to the three drop off points. These three drop off areas provide independent and quick access to the residential, office, serviced residences, or commercial areas while ensuring privacy and security.

Mature trees surrounding the property are prudently preserved and integrated into the design landscape to maintain its natural green charm and steady appeal.

This is supplemented by employing horizontal landscaping and vertical green walls, including water features around and within the property to provide an enjoyable and inviting atmosphere that connects each visitor and occupant with nature.

The building employs contemporary architecture using elements that integrates its history and its character with its modern and unique look. One noticeable exterior design feature are the sky gardens that provide a functional open space for the residents to enjoy and create an accent to its repeating forms and clean straight lines that commemorates the property’s history.

The generous glass façade of the retail and office areas provide optimum natural lighting and give maximum visual connection to the people within and around the area, inviting more opportunities for each one to enjoy.

Overall the development is designed to provide solutions to a modern city with each independent tower to serve its own occupant and to live up to its historical significance while maintaining its tradition as a center for the local community.
​
“At Base Line, Cebuanos can proudly live, work and thrive,” said Soberano. (PR)

​Hotel operator confident in Cebu as a market for hospitality
By Katlene O. Cacho/ http://www.sunstar.com.ph/cebu/

THE Philippines remains to be an important investment destination for hotels due to its booming tourism and robust economy, a top official of the Carlson Rezidor Group- Asia Pacific said.

“The Philippines is one of the fastest-growing countries in Asia Pacific. Logically, it is part of our target countries where we put our investments and time,” said Sandy Russell, vice-president for commercial operations of Carlson Rezidor Group-Asia Pacific.

Potential
She noted that China, Indonesia and the Philippines as their top three countries in Asia Pacific that offer great potential for business.

By the end of 2020, Carlson Rezidor will operate a total of 200 hotels in Asia Pacific. 

In the Philippines, the hotel management firm operates in partnership with the SM Group. It manages the Radisson Blu Hotel Cebu and Parkinn Davao by Radisson. By the end of the year, the firm will open another Parkinn Hotel in Clark, Pampanga.

High performer
The group, according to Russell, is in constant talks with potential hotel-development partners in three countries. In the Philippines they aren’t closing their doors to opportunities and also open to other possible partnerships.

Russell noted the Radisson Blu Hotel Cebu is one of their high performing hotels in Asia Pacific, making the country and Cebu attractive to other hotel owners and investors in the region.

“We are so proud of this flagship project here. It has raised the bar and set the tone in putting the brand on the map, specifically in Asia Pacific,” said Russell.

Radisson Blu Hotel Cebu is the first Radisson Blu brand in Asia Pacific.

Russell disclosed the company will introduce another hotel brand called Radisson Red, which will attract the millennial market.

Millennials, often defined as the group born between 1980 and 2000, are becoming increasingly important to travel brands as baby boomers age. The millennial generation is expected to account for nearly 50 percent of business-flight spending by 2020, according to the Boston Consulting Group.

Russell said the group plans to open three to four Radisson Red in Asia Pacific initially in China and Indonesia.
The youth-oriented hotel brand will anchor on modern features and technology to attract the millennial generation. 

Cebu developers converge in Property Expo
by KRISTYN NIKA M. LAZO/ http://www.manilatimes.net

CEBU’S top real estate firms are gathering for a two-day meet up to showcase and encourage more industry activities and in the province dubbed as a top destination for emerging property developments outside Metro Manila.

Mediacom Solutions Inc. and Lamudi – the global property portal of Rocket Internet – are spearheading the Property Expo Cebu 2015 on July 18 to 19 at the Cebu Trade Hall, SM City Cebu. Top property developers and real estate product and service suppliers are showcasing what they can offer industry stakeholders.

Mediacom said this is part of efforts to grow Cebu’s tourism, commerce, trade, education and industries through property development.

“The real estate sector has also been sensitive to the needs of the consumers from lower down payment schemes, rent-to-own offers and more choices suited to their tastes and needs,” said Mediacom.
​
Before the two day event, there will be Property Summit Cebu on June 17 at the Radisson Blue Hotel to brief participants on the latest tips and trends in the property market by experts in the real estate industry.

The next 6 months of the PH property industry - Will something so high come down soon?

Six months have come and gone. Now, the property industry is set to embark on the next six months of what is shaping to be a most productive 2015. But with the way things are going, what could come up along the way?

Inquirer Property recently asked some of the leading property analysts in the Philippines for their fearless forecast for the next half of 2015.

Claro dG. Cordero Jr., head of research, consulting & valuation of Jones Lang LaSalle Philippines Inc., said: “We do not see any major surprises for the rest of 2015, especially since the economic fundamentals are sound enough to drive further growth in the property sector. While there are concerns that there may be negative factors affecting property demand (such as disruptions in the flow remittances from overseas Filipinos, among others), we think that these are not likely to happen and property demand (along with their respective drivers) will continue to grow.”

CBRE Philippines, in a statement, said: “There is a small chance for more surprises to come up, as developers usually announce their projects at the start of the year to hype the market.”

Enrique M. Soriano III, Ateneo program director for real estate and senior adviser for Wong+Bernstein Business Advisory, said: “Will the sector show signs of cooling off in the next half or early 2016? It is likely. My argument is very fundamental, in any economic activity, what comes up must come down soon.”

Looking at things from the seven “growth areas,” here are the analysts forecast:

1Residential segment. “We will be celebrating more than a decade of unprecedented growth in the property sector, and from a purely rational economic thinking, we will likely contend with headwinds as a result of oversupply and buyer caution in the residential segment,” Soriano predicted.

2Retail malls. CBRE expects the launch of major malls, such as the Festival Mall Expansion, Solaire Mall, Paradigm, Grand Canal Mall and South Park Mall to add a total GLA (gross leasable area) of 207,000 sqm.

3Office market. “The office market is expected to maintain an upward movement with the projected introduction of about 780,000 sqm of office spaces in the next two quarters of 2015,” CBRE added.

4Fortified Bonifacio Global City. “Fort Bonifacio will also experience a spike in supply this year of more than 320,000 sqm,” said CBRE.

5More PPPs. The robust activity in the industrial sector is anticipated to further heighten as more PPPs (public-private partnerships) materialize, according to CBRE.

6Strong imports. “Imports are also expected to increase due to the PPPs, especially from firms handling steel and iron which are raw materials for the projects. These strong imports would also entail higher demand for warehouse space,” said CBRE.

7 Real estate developments. Soriano said that “government agencies like the BSP (Bangko Sentral ng Pilipinas) are doing an excellent job keeping stakeholders in check and issuing restrictions on borrowing, the setting up of a real estate index and regulatory rulings to contain what economists normally refer to as ‘irrational exuberance.’”
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“As to the prices, it will be stable and resilient as developers will stand their ground, especially for projects with better offerings (projects with commercial developments, near malls, MRT/LRTs and those built by branded developers). These projects will continue to resist a possible decline in pricing levels,” added Soriano.


By: Tessa R. Salazar/http://business.inquirer.net