MANILA, Philippines – Vista Land & Lifescapes Inc., the leading property developer of the Villar family, is pouring in P18 billion from 2017 to 2018 to build 10 more malls as it continues to expand its recurring income base.

In an interview on Friday, Vista Land founder and chairman Manuel B. Villar said the latest expansion would boost the company’s total gross floor area (GFA) to 1.3 million square meters (sqm) from just 910,000 sqm at present.

“We will start building in January,” he said.
He said the target is to complete the malls before Christmas next year, while others would be finished by 2018.
All the malls will have anchor establishments such as AllHome, AllDay Supermarket, AllToys, The Coffee Project and AllShop department store.

Villar said the plan is to build seven Vista Malls or the regular mall with a size of 30,000 sqm, and three Vista Places or the smaller version with a size of roughly 15,000 sqm.

Vista Land will build The Vista Place in Malolos, Bulacan; Kawit, Cavite; and Cagayan de Oro City, while the new Vista Malls will be in Iloilo City, Davao City, Dasmariñas in Cavite, two in Bacoor, and two in Las Piñas (Molino in Daanghari and the expansion of Evia City located at the opposite end of Daanghari).

“We came in at a time when consumers have higher spending power and the market standard for malls is levelling up. Thus our malls are designed to be much nicer than what others have right now,” said Villar.

He said the company wants to bring the malls closer to customers’ homes so they do not have to travel far and could avoid heavy traffic.

“But our malls are complete with dining and shopping options as well as state-of-the-art cinemas,” he said.

In terms of the number of dining and shopping options, Vista Land makes sure there are just enough options for customers so they are not flooded with choices.

While all these plans are taking shape, Vista Land is now ramping up the expansion of the company’s flagship mall in Evia City in Las Pinas, which opened just this year and now fully leased out with a waiting list of tenants.

The company is building the lifestyle mall in phases with the second phase to include a hotel.

“We are simultaneously building Phase 2 and 3 of the mall. This will bring total GFA to 120,000 sqm from the current 38,000 sqm. This will be built within the five hectares we have allotted for the mall,” Villar said.

He said Phase 2 would be about 50,000 sqm and cost P2 billion, while the third phase would be close to 40,000 sqm at a cost of P1.6 billion.

“This will be completed within two years,” he said.
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Source:  By Iris Gonzales(The Philippine Star) | 

MANILA, Philippines – The group of Manuel V. Pangilinan is open to partnering with other firms planning to build new airports amid congestion at the country’s main international gateway. 

“We don’t have any commitment with anybody in respect to the new airport so, we’re open to partner,” he said when asked if the group would be willing to work with Henry Sy and the Tieng family, or with San Miguel Corp. president and COO Ramon Ang, who have respective proposals for a new international airport in Luzon. 

Amid worsening congestion at the Ninoy Aquino International Airport (NAIA), Pangilinan agreed to the country needs a new international airport. 

Belle Corp., which is part of Sy’s SM group, has acquired a significant stake in All-Asia Resources and Reclamation Corp. (ARRC) which is led by the Tieng family.

ARRC has plans of building an international airport and seaport at a cost of $50 billion on a reclaimed land off the coast of Sangley Point in Cavite. 

Ang, meanwhile, has proposed to establish of an “aerotropolis” in a 2,000-hectare complex in Bulacan that would feature four runways.

While Pangilinan is open to partnering with firms for a new airport, his group is also interested in the project seeking to upgrade the NAIA under the public-private partnership (PPP) scheme.

Approved by the National Economic and Development Authority board in September, the P74.6-billion NAIA PPP involves the upgrade of the NAIA by improving the safety and security, as well as maximizing the capacity of the airport through infrastructure or assets for air and land side traffic management.

Under the PPP deal, the winning private firm will also be responsible for the operations and maintenance of the airport according to international standards.

The concession period covers 15 to 20 years including the design and construction.
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Pangilinan-led Metro Pacific Investments Corp. (MPIC) is currently involved in other infrastructure projects in the rail and tollways sectors under the PPP scheme.

Source:  Louella Desiderio (The Philippine Star)

MANILA, Philippines - Banking giant Metropolitan Bank & Trust Co. (Metrobank) has raised the country’s economic growth forecast this year to seven percent from an earlier 6.3 percent amid the expected strong cash remittances in the last quarter of the year.

Pauline May Ann Revillas, research analyst at Metrobank, said the Philippine economy once again surprised markets, posting a stronger-than-expected gross domestic product (GDP) expansion of 7.1 percent in the third quarter from seven percent in the second quarter.

This brought the average GDP growth to seven percent in the first nine months of the year, or at the higher end of the six to seven percent expansion penned by economic managers.

“Research has noted before that its full-year average forecast of 6.3 percent had further upside bias, and given the stellar economic growth in the third quarter, this will now be revised upwards towards the seven percent level,” she said.
Revillas added the continued weakening of the peso gives beneficiaries of cash remittances from overseas Filipinos would have even more purchasing power this Christmas season.

Business ( Article MRec ), pagematch: 1, sectionmatch: 1“This will keep fourth quarter consumer spending on an uptick, providing some counterbalance to base effects from last year’s strong yearend finish as well. Thus, a 2016 full-year growth rate of seven percent is well within the cards,” she said.

Latest data from the BSP showed cash remittances grew 6.7 percent to hit a year-high of $2.38 billion in September from $2.23 billion in the same month last year.

Cash remittances grew 4.8 percent to $20.02 billion in the first nine months of the year from $19.1 billion in the same period last year exceeding the full-year four percent growth target set by the BSP.

Revillas attributed the solid economic expansion in the third quarter to robust consumption spending, sustained double-digit growth in investment spending, rebound in the agriculture sector, and faster expansion of the industry sector.

On the demand side, she explained consumption spending remained solid, expanding by 7.3 percent, supported by positive remittances growth and still low inflation rates.

On the other hand, she added investment spending resumed its solid expansions since the first quarter of 2015 amid the strong growth of its construction and durable equipment subsectors.  

Government spending, as what has been previously expected, posted a slower growth on base effects. Imports continued to grow faster than exports amid a number of factors – sustained rise in capital goods imports, strong US dollar, and fragile economies of major trading partners.

The economist pointed out the plans for massive infrastructure spending by the Duterte administration is seen to further boost investment spending growth.

“The sustained expansion in Investment spending is expected to shield the domestic economy from negative externalities and form the backbone for a more inclusive growth,” she said.

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Source:  Lawrence Agcaoili (The Philippine Star)

The Housing and Urban Development Coordinating Council (HUDCC) is pushing for a stronger land use policy that is efficiently administered through an integrated land and ISF information system to address housing affordability, which remains a challenge to many Filipino families.

Vice President and HUDCC Chair Leni Robredo said the affordability of housing has been adversely affected by out-of-control urbanization and unplanned urban sprawl where demand for residential lands far outstrips the available supply of land, particularly in densely populated areas.

“The challenge that we face now is setting in place a stronger land use policy that is efficiently administered through an integrated land and ISF information system,” the Vice President said.

“This will be complemented by providing innovative housing solutions through the Key Shelter Agencies (KSAs) and Public-Private Partnerships to address opportunity gaps facing the homeless and low-income families,” she added.

Last September, HUDCC began integrating and consolidating data on ISFs from the National Household Targeting System (NHTS) of DSWD, as well as data from the European Satellite Agency (ESA) and on land titles in Metro Manila in ESA-identified areas from the Land Registration Authority (LRA).

In response, the Vice President said that part of HUDCC’s new strategic direction is putting greater focus in empowering the local government units (LGUs) as efficient urban managers with the capacity to develop plans and deliver services to their growing urban population.

“HUDCC is also studying measures towards more integrated and inclusive transport infrastructures that provide families and residents living outside the cities easier access to livelihood opportunities in the urban centers,” the Vice President said.

The measures will be discussed with the Department of Transportation (DOTr) and the member-agencies at the next meeting of the Council.

Recently, NEDA approved HUDCC’s request to join DOTr in the Infrastructure Subcommittee on Transport for the Philippine Development planning process in light of HUDCC’s mandate on urban development.

In turn, HUDCC proposed that DOTr be made a regular member of the Council thru a draft Executive Order strengthening HUDCC that was submitted to the Office of the President last October 5, 2016.

HUDCC has also been drawing in the expertise of international national organizations such as Habitat for Humanity, UN Habitat and World Bank, to help build the technical capabilities of LGUs in developing their shelter plans using evidence-based planning and decision-making.

On Thursday, October 27, HUDCC and Habitat for Humanity (HFH) signed a partnership in assisting at least 50 cities and 300 municipalities in implementing their LSPs and in packaging appropriate housing projects and technical assistance in accessing home financing options under the government’s key shelter agencies (KSAs).

“We are also developing innovative approaches to housing finance, including housing microfinance and the use of right-based land tenure instruments as collateral substitutes,” she added. (BCM)

“Furthermore, we are looking into a public rental housing program to cater to the needs of individuals whose needs are temporary or are otherwise not looking to own a home where they are working,” she added.

This initiative would address the housing needs of families who cannot afford homeownership, but still wish to save more from their income to own a home in the future,” she emphasized.

According to a Philippine Institute for Development Studies (PIDS) study in 2004, almost half of the urban population are renters and sharers, 33 percent and 17 percent, respectively.

It was also observed that the marked proliferation of rental housing is found mostly in informal settlements.
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HUDCC has already convened a Technical Working Group (TWG) that is currently undertaking a series of consultations with different stakeholders to develop a public rental housing program and other non-ownership based modes for providing more affordable housing options.(BCM)


Source
Published November 2, 2016, 10:00 PMBy Bernie Cahiles-Magkilat
http://business.mb.com.ph/2016/11/02/vp-bats-for-stronger-land-use-policy/
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