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.
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.
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.
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.--
The 20-hectare township will include a central linear park, al-fresco establishments and a waterfront promenade
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
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.
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.
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, 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)
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.
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.
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.
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.