DAVAO CITY — Tycoon Lucio L. Co plans to have more Acacia Hotels nationwide after opening the third branch here last week, as his company seeks to take advantage of growing tourism to the Philippines. “I am not a hotelier, isa po akong sari-sari store owner (I am a retail store owner)… but I know when I get the best service and accommodation in a hotel,” Mr. C...
Read more
VISTA LAND & Lifescapes, Inc. expanded its earnings by 13% in the third quarter, as its real estate sales continued to grow. The Villar-led property developer posted a P3.16-billion attributable net income in the July to September period, from P2.87 billion a year ago. Consolidated revenues climbed 7% to P10.96 billion as expenses rose 12% to P6.98 billion during the same three months....
Read more
ABOITIZ Equity Ventures Inc.’s (AEV’s) net income for the first nine months of 2019 was P15.7 billion, nine percent lower than the P17.3 billion recorded during the same period last year. AEV recognized non-recurring losses of P155 million, lower than the previous year’s P407 million, representing net foreign exchange and derivative losses. Without these one-off losses, AEV...
Read more
MANILA, Philippines – Property developer Sta. Lucia Land Inc. (SLI) has deferred a follow-on offering (FOO) or re-initial public offering of shares worth P8.4 billion, citing “volatile” market conditions. The decision to defer the FOO was made upon further consideration and extensive discussions between SLI and China Bank Capital, issue manager, underwriter and bookrunner, SLI...
Read more
Cebu City―DMCI Homes, the real estate arm of DMCI Holdings Inc., expanded its landbank with the acquisition of a 9,695-square-meter property in Barangay Lahug in this city. The Lahug property is the second land acquisition made by DMCI Homes in Cebu after acquiring a lot in Barangay Guadalupe where another residential community will rise. “Cebu is one of the fastest-growing economies i...
Read more
MACTAN, Cebu – DMCI Holdings, Inc. is beefing up its investments in Cebu as it banks on the government’s Build, Build, Build program to boost business activity, particularly for the construction and real estate sectors. In a media briefing, DMCI Chairman Isidro A. Consunji said residential developer DMCI Homes has acquired two properties in Cebu which it will develop into their sign...
Read more
