PROPERTY PRICE hikes fueled by the Philippine offshore gaming operators (POGO) sector may pose increasing risks to the banking industry, according to Fitch Ratings. “Recent data point to speculative activity that could affect market stability if unchecked,” Fitch said in a note sent to reporters on Wednesday. “To the extent that the increase in prices has been driven by a b...
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CEBU’s property boom isn’t showing signs of slowing down, thanks to the robust economy, which drives investments into the real estate business. The property sector remains one of Cebu’s stellar growth drivers in 2019, as residential, office and retail developments have sustained their growth momentum. Joey Bondoc, senior research manager at Colliers International, said Cebu...
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MANILA, Philippines — Damosa Land Inc.’s (DLI) premier agro-industrial hub Anflo Industrial Estate Corp. (AIEC) eyes more investments as large international contingents flock to Davao City. Well-known foreign manufacturers have chosen to expand their Philippine operations in AIEC’s 63-hectare Philippine Economic Zone Authority-approved ecozone. “After seeing what indu...
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ArthaLand Corporation (ALCO) recently signed an agreement with Mitsubishi Estate Company, Ltd. (MEC), which is one of the largest real estate developers in Japan. This agreement will be Mitsubishi Estate’s first venture in the Philippines. Mitsubishi Estate is acquiring from ALCO a 40% stake in ALCO’s ownership of Savya Land Development Corporation, which is developing the Savya...
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MANILA, Philippines — Net inflows of foreign direct investments (FDI) fell by 48.5 percent to $430 million in June from $836 million in the same month last year due to the worsening trade war between the US and China, according to the Bangko Sentral ng Pilipinas. Based on a report from BSP, equity placements plunged by nearly 65 percent to $73 million in June from $208 million in th...
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Suyen Corp., a retail conglomerate owned by Bench founder Ben Chan, is venturing into the real estate business through investment in Clark Global City of businessman Dennis Uy. Suyen and Global Gateway Development Corp. of Udenna Group signed a memorandum of agreement for the sublease of 2,886 square meters at the latter’s 177-hectare leasehold within the Clark Freeport Zone in...
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