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Philippines
ECONOMY
The city of Manila joins the list of the most sought-after city for emerging mar-
ket investors, a leading retail website said. Global property platform Lamudi
(lamudi.com) said that cities in Asia lead the pack of the most coveted cities for
investors, but there is also potential across emerging regions. Jakarta tops the
list as the most sought-after city, followed by Manila, Mexico City, Marrakech
and Dhaka. Cities in the Philippines and Indonesia have particularly strong
prospects, cementing Southeast Asias place as one of the worlds emerging
property hotspots. The region will continue to attract interest as these coun-
tries address issues like transparency and governance, creating an even more
favourable investment environment, said Kian Moini, Co-Founder and Manag-
ing Director of Lamudi.
FOR LEASE
6,000 square meter total of BPO space
Supported by 24/7 retail establishments and malls
surrounding the project SM Megamall, Shangri-La
Plaza and Starmall)
Located along Epifanio Delos Santos Avenue (EDSA)
Very accessible via various transport systems. MRT and
bus station just meters away from the building
With available spaces for recruitment for major tenants
RFO 3Q2014
INVESTMENT Robinsons Cyberscape
Alphaland sells Shangri-La at The Fort stake Beta
The Philippine Star, 05.01.14
Upscale property developer Alphaland Corp. has unloaded its minority stake in
the Shangri-La at The Fort hotel and luxury residential project, giving it much-
needed cash to continue operations. The asset disposal comes on the heels
of several fundraising programs by the property firm of former trade minister
Roberto V. Ongpin. In a disclosure, Alphaland said it completed the sale of a
20-percent stake in the Shangri-La at The Fort project. The stake was sold
to subsidiaries of Shang Properties Inc. for a total cash consideration of P1.7
billion, Alphaland said. The 60-storey Shangri-La at The Fort is composed of
576 hotel guest rooms, 97 hotel residences and 96 exclusive Horizon Homes. It
is scheduled to open in early 2015. The hotel features over 4,600 square me-
ters of meeting and banqueting facilities including ballrooms, function rooms,
a business center, a teleconferencing room, and a 350 square meter high-end
outdoor events area.
Locally-listed property developer 8990 Holdings Inc. aims to sell nearly P70
billion worth of low-cost housing units nationwide in the next five years. An
aggressive rollout and construction program would ensure long-term growth in
net income which would likely breach the P3-billion income level this year, its
Top Executive said. 8990 Holdings company president and CEO Januario Je-
sus Atencio said the property firm has a pipeline of 18 projects totaling 64,405
housing units in 250 hectares of landbank. We have 18 projects, seven of
which will start in 2014, nine in 2015 and the final two in 2018 and 2019,
Atencio said, adding that sales value of the low-cost housing units is estimated FOR LEASE
to reach P66 billion. In particular, there would be five projects in Davao, three 21,000 square meter total leasable space
in Cebu, two in Cavite, five in the National Capital Region, two in Iloilo and one 14 floors of office space
in Rizal, all of which would be targeted for completion in 2014-2020. With food options and retail establishments at ground
and second floor
Along Commonwealth Avenue, proximate to malls,
universities and transportation hubs
P. 2 | COLLIERS INTERNATIONAL
Phinma ventures into more socialized housing projs
Real estate developer Phinma Property Holdings Corp. is venturing into more socialized housing projects, a niche market that it plans to tap
by partnering with local government units (LGUs). The property arm of investment firm Phinma Corp. is also fasttracking the launch of larger
projects as it expands outside Metro Manila for the first time, an Executive said. We continue to expand in the sense that whatever capacity
we have, were channeling also our resources, almost equally, to socialized housing projects, said Phinma Properties president Willy Uy.
Its an area where our competitors are not willing to get into because of the very slim margins, Uy said, adding that the companys building
system allowed it to squeeze better margins than conventional contractors. Phinma Properties, which has been involved in socialized housing
projects since early 2000s, is the firm behind Bistekville housing project that offers around 1,100 residential units through row houses and
three-story condominiums in Quezon City.
SM Prime Holdings Inc.s hotel unit is spending P2.5 billion to double the number of hotels under its portfolio to 10 by 2018 to tap the vast
potential of the tourism industry. SM Hotels and Conventions Corp. president Elizabeth Sy said in an interview at the sidelines of the recent
annual stockholders meeting of SM Investments Corp. the company identified Clark Freeport in Pampanga, North Edsa in Quezon City, Iloilo
City, Bacolod City and another location as the next sites for hotel projects. Under construction within the Mall of Asia Complex is Conrad Ma-
nila, a five-star hotel with 347 guestrooms. Conrad Manila, the first Conrad Hotels & Resorts branded property in the Philippines, is expected
to open by mid-2015. Sy said the new hotels projects, like the existing hotels, would be located beside SM shopping malls.
RETAIL
The flea market competition in Divisoria, the countrys shopping mecca, is heating up with the entry of DoubleDragon Properties Corp. of
Mang Inasal founder Edgar Injap Sia II and Jollibee Foods owner Tony Tan Caktiong. In a regulatory filing, DoubleDragon said it entered into
an agreement to acquire the rights, title and interests of Equitable Development Corp. and Menlo Capital Group in a 5,972-square meter lot
located in Divisoria, Manila. DoubleDragons latest lot acquisition will allow the company to launch a new tiangge shopping center concept that
will diversify revenue streams, the company said. Through this project, the company will take advantage of the shortage of supply of tiangge
malls in the vicinity due to the suspended operations of a major tiangge shopping mall in the area brought about by a fire incident last year,
DoubleDragon said.
IT/BPO
Constantino Guadalquiver & Co., one of the countrys accountancy and consulting firms, is seeking to locate in an IT Park to register its ex-
panding BPO operation to serve its global clients. Jerome Antonio Constantino, Managing Partner of Constantino Guadalquiver & Co., revealed
during a press conference the company is adding as much as 200 agents for its existing 100 BPO operation. The company is also scouting for
a registered Philippine Economic Zone Authority (PEZA) IT Park or building to locate its expansion project and avail of the PEZA incentives.
The expansion project is expected to start commercial operation by next year. At present, the company is serving the accounting and financial
services of its local clients. With the expansion program, Constantino said the company would be able to accommodate more jobs from the
global clients of Baker Tilly International, the worlds 8th largest network of independent accounting and business advisory firms, to which it
is affiliated.
P. 3 | COLLIERS INTERNATIONAL
BPO sectors growth leaves workers behind, says group
A group of employees in the business process outsourcing industry lamented that President Benigno Aquino had failed to bring up the issue
of pay cuts in BPOs serving US clients when President Barack Obama visited the country. BPO clients from the US are forcing employers to
trim down basic salary to as low as P10,000 P12,000 on entry level. Back in the early 2000s once you start in the BPO, you enjoy as much
as P20,000 P25,000 entry level basic pay, said Ian Porquia, spokesperson of BPO Industry Employees Network Philippines. The most
obvious is the consistent merging of different major BPO players that eventually force lay-offs or putting workers in floating status until an
account or business unit will be available for them, he added. The tax holidays they have long campaigned for will highlight the opportunity to
salvage whatever trifling amount is left on their pay. The growth of the BPO industry is leaving workers behind. We dont have job security,
we are prohibited from forming workers union, we cannot petition for profit sharing and appraisal on our pay, we are simply left to take calls
and eventually outgrow this norm inside the industry, Porquia said.
Rappler.com, 05.02.14
The Philippines business process outsourcing (BPO) industry generated $10 billion in revenues in 2013 a 15% increase over 2012 accord-
ing to a Contact Center Association of the Philippines (CCAP) report. The CCAP said BPO full-time employees (FTE) in the country increased
by 89,000 in 2013 for a total of 586,000, 18% more than in 2012 when the industrys workforce was at 497,000. The group said it is eyeing a
compounded growth rate of 14% to 15% for both revenues and FTEs in 2014 and 2015. With the latest figures, it remains confident of hitting
its target of 1.3 million employees and $25 billion-revenue by 2016. The United States remains the biggest market for contact center work done
from the Philippines, with the United Kingdom, Australia and New Zealand as emerging markets, the CCAP said.
India-Based information technology (IT) and outsourcing giant Tech Mahindra Ltd. is now looking at its next step in the Philippines, four years
after it set up shop in the country, as part of global expansion plans for 2014, senior officials of the company said in a recent visit. We are
looking to expand to either other locations or expanding in the same location in the next three months, Sujit Baksi, chief executive officer of
Tech Mahindras Business Services Group, said in an interview last month at the New World Makati Hotel in Makati City. In the Philippines,
Tech Mahindra currently operates in three sites: two in Eastwood Cyberpark in Quezon City and one in Cebu City. Mr. Baksi said the plan in the
Philippines is to add 400 call center seats to the companys existing 2,000. The company has met with surging demand since it set up shop
in the Philippines, prompting it to grow its call center agent force fivefold to as many as 3,000 from 600 at the start.
The Zamboanga Information and Communications Technology (ICT) Council is strengthening its campaign to attract business process out-
sourcing (BPO) firms to come to this city. Louell Felix G. Saavedra, president of the local ICT council said Zamboanga has the potential to
become a major BPO destination in Mindanao. The Department of Science and Technology through its ICT office in Manila has identified cities
outside National Capital Region with potential to attract BPO firms, Mr. Saavedra said. They found out that Zamboanga City qualifies as BPO
destination based on certain criteria, he said. Mr. Saavedra, however, noted the new measures that would be adopted by the local ICT council
is still being drafted in coordination with other groups, specifically the business chamber and the city government. About a dozen major BPO
firms have already established offices in Davao City, Mindanaos current center of trade and commerce at the eastern part of the island, and
several others operate in Cagayan de Oro City in Northern Mindanao.
The Authority of the Freeport Area of Bataan (AFAB) and the LKY Group signed a P300-million project agreement to develop the Freeport
Area of Bataan (FAB) into a leisure hub and complete lifestyle community. This project will further improve facilities in the FAB that can spur
investments and create new jobs and at the same time, provide work-life balance to our locators and the FAB community, said AFAB Chair-
man and Administrator Deogracias G.P. Custodio. The project involves the redevelopment lease of the tourism facilities covering 489,170.9
square meters of land, including its existing four-storey Hilltop Hotel, club house, golf course, shopping center, auditorium and other amenities.
P. 4 | COLLIERS INTERNATIONAL
GENERAL PROPERTY
The state-run Bases Conversion and Development Authority (BCDA) is set to bid out this month a prime 5,000 square-meter lot at the Boni-
facio South area, as part of the governments asset disposition program. We are optimistic and (we) expect the (Lawton Corporate Center
Lot) to draw a lot of interest from top real estate developers because of its strategic location and proximity to various high-end commercial and
residential areas like Bonifacio Global City, McKinley, Forbes Park, and Newport City, including the NAIA III, explained BCDA officer-in-charge
Aileen An. R. Zosa. BCDA manager for business development Arrey Perez added that they have been finalizing the Terms of Reference (TOR)
for the bidding of the lot. Among the possible developments that could be done in the property are commercial, retail and offices as well as
business process outsourcing (BPO), Perez said.
Online real estate tech startup ZipMatch (www.zipmatch.com) has closed a deal for strategic partnerships with BPI Family Bank, enabling
home-loan applications to be part of its property search process. This will boost the current portfolio of services that ZipMatch is offering so
buyers and brokers can streamline the home buying experience in the Philippines. Under the strategic partnerships, ZipMatch is integrating
price comparison and home loan application into its services. iMoney.ph and BPI Family Bank, on the other hand, will benefit from better
validated customer leads. ZipMatchs business model provides an effective web-based sales and marketing solution for ZipMatchs partner
brokers, brokerage firms, and property developers, by providing them with a unique customer-generation solution. This enables them to
prospect for qualified buyers, through ZipMatchs concierge service, and reach potential clients previously untapped by traditional marketing.
While the concept of a green building has already become quite fashionable in the country, it is however not yet so easy to find buildings in
the Philippines that are truly green. The very first obstacle to determine whether or not a building is green is having the sufficient technical
background and understanding of green building practices. Local experts in the building industry are the most qualified and objective arbiters
in determining what buildings can or cannot be considered green. The Philippine Green Building Initiative (PGBI) is an alliance of the profes-
sional organizations of architects, engineers, interior designers and heritage conservationists in the country. The major components of the
green building ordinance include energy and water. A green building is most concerned with the building envelope which includes the exterior
walls and doors, windows and the roof. These elements, being exposed to the sun, absorb heat which affects the thermal comfort of the
occupants. The ordinance mandates solar control glazing and control of solar radiation to achieve air conditioning efficiency. For water, the
ordinance mandates water reduction, rainwater collection and water recycling.
P. 5 | COLLIERS INTERNATIONAL
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