Ayala group boosts hotel portfolio in Makati CBD

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By Doris C. Dumlao
Philippine Daily Inquirer
1:07 am | Monday, December 10th, 2012

MANILA, Philippines—For the first time in nearly two decades, the Makati central business district boosted its upscale hotel portfolio with the debut of renowned brands Raffles and Fairmont in the Ayala group’s crown jewel, Ayala Center.

Raffles added 30 all-suite rooms while Fairmont opened 280 rooms to expand Ayala Land Inc.’s growing hotel portfolio.

“I think the launching of the new Fairmont and Raffles, two wonderful brands, in Makati is symbolic also of the turnaround economically that the country is going through,” Jaime Augusto Zobel de Ayala, chairman and chief executive officer of conglomerate Ayala Corp., said in an interview. “We have a fresh new product for the city at the time when the country is also trying to encourage new tourism. It’s good for Makati, good for the country.”

Fairmont and Raffles, which share a 30-story structure, opened their doors to the public Monday last week with Tourism Secretary Ramon Jimenez joining the Zobel de Ayala brothers and ALI officials during the inauguration.

“There is really a need for a new product in the country…We’re building up the (hotel) portfolio,” said Fernando Zobel de Ayala, chairman of Ayala Land and president of Ayala Corp.

He said the group was able to scale up its investment in the hospitality industry at this time because of record-low local interest rates.

Raffles offers accommodations starting at $350 per night while Fairmont sells rooms at the $200 to $220 price points.

The Makati property also hosts high-end serviced apartment Raffles Residences with 237 units, of which 110 units will be included in ALI’s hotel inventory.

Raffles Residences will occupy the 11th to 30th floors, Raffles Makati 9th to 10th floors while Fairmont will be at 3rd to 8th floors.

Raffles Hotels & Resorts is an award-winning luxury international hotel company with history dating back to 1887 with the opening of Raffles Hotel Singapore.

Apart from the historic property in Singapore, it has seven other luxurious properties in Cambodia, China, UAE, Saudi Arabia, Seychelles, Paris and now, the Philippines.

Fairmont Hotel & Resorts is likewise a celebrated hotelier with a collection of more than 60 luxury properties around the globe including Shanghai’s Fairmont Peace Hotel, The Plaza in New York and the Makkah Clock Royal Tower in the Kingdom of Saudi Arabia.

It is owned by FRHI Holdings Ltd., which also manages the Raffles and Swissotel hotel and private residences brands.

By April 2013, another hotel brand—the 348-room mid-budget Holiday Inn and Suites Makati, which will be directly connected to the Glorietta hub—will also open for business.

ALI’s AyalaLand Hotels and Resorts (AHRC) also announced it would soon operate its first wholly owned hotel brand with the soft opening this December of Seda Bonifacio Global City.

Seda, a rebranding of the earlier planned “Kukun” chain, is an urban lifestyle hotel brand envisioned to offer good location along with excellent service and great value.


For those interested to know more about Ayala Land Premier villages and condo, feel free to contact me anytime.

Thank You!

Your Ayala Land Guide,

COCO MIDEL
M: +63.917.502.9252
T: (02)577.27.12
E: midel.jerico@ayalaland.com.ph

Manila rising, so are rents as confidence in Philippines grows

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By Rosemarie Francisco
MANILA | Sun Nov 25, 2012 3:59pm EST
Reuters.com

Nov 26 (Reuters) – Manila’s changing skyline demonstrates a city coming up in the world.

The capital of the Philippines is in the throes of a property boom described as the best in two decades, reflecting the increasing confidence in an economy that only recently began shedding its image as one of the region’s basket cases.

Nowhere is it more obvious than at Bonifacio Global City, a commercial and residential property development on a portion of land carved out from Manila’s biggest army base.

Originally sold by a cash-strapped government in the mid-1990s, building only got underway in earnest during the last six years after Ayala Land Inc took ownership. Under the Spanish-Filipino business clan that runs Ayala, construction is now going at full tilt.

“Work here is 24 hours,” said Renel Reyes, an engineer and property manager overseeing a 30-storey tower due to be completed by the year-end.

Soon to be home for Nickel Asia Corp and local conglomerate Aboitiz Equity Ventures Inc, NAC Tower is just one of several tower blocks under construction. As his own workers carried in sleek aluminium rails, Reyes said the state of the market was obvious to anyone who looked up.

“There are so many tower cranes, a good indicator of the construction boom right now.”

Located near Makati, the main business district that grew up in the 1970s, Bonifacio is a project in progress, but rents at 800 peso per square metre ($19.5) are already catching up with its older, established, but saturated rival.

Though rents paid in Makati have recovered almost 30 percent in the last three years, they are still way below the peak of 1200 pesos/sqm ($29) paid before the global financial crisis hit in 2008, data from property manager and consultancy Jones Lang La Salle Leechiu (JLL) shows.

That makes renting in Manila’s business districts far cheaper than Hong Kong, Shanghai or Singapore. But then infrastructure remains a drawback, as anyone arriving at Manila’s tired, old airport quickly realises.

VROOM

Still, as Bonifacio lures companies tired of Makati’s cramped spaces with its sprawling parks, luxury hotel chains and Italian supercar makers have followed the money.

Lamborghini opened its first Philippine showroom, side by side with Ferrari, in Bonifacio, while Hyatt and Shangri La hotels are opening there soon.

Office space in most new buildings are snapped long before completion. At the NAC Tower, for example, only six floors remain un-let, but Reyes said they have potential takers.

Take up of new office space this year is set to hit a record 400,000 to 450,000 sqm, up as much as 25 percent from last year, according to Jones Lang and CBRE Philippines, another of the country’s biggest property manager and advisers.

“Pre-leasing is back,” said Rick Santos, chairman of CBRE. “We are now experiencing the best real estate market in the Philippines in the last 20 years.”

The primary driver of demand for office space comes from business process outsourcing (BPO) firms catering for European and American multinationals that want to cut costs.

With one of the region’s fastest growth rates, GDP grew 6.1 percent in the first half, the Philippines has shown resilience in the face of falling demand in the West and China, that other more export driven economies must envy.

Analysts say the Philippines could achieve its first investment grade sovereign debt credit rating in the next 12 months, about seven years after ending its debtor-nation status with the International Monetary Fund.

Strong private and public consumption has underpinned growth, while inflows of foreign capital have driven the stock market to new peaks and the peso to near five-year highs.

An anti-corruption drive launched soon after President Benigno Aquino came to power in 2010 has help the Philippines’ image in the eyes of foreign investors.

Low inflation, low interest rates, and a ready supply of reliable, English-proficient labour are strong draws for foreign businesses seeking to reduce costs by expanding in Southeast Asia.

MANILA CALLING

The vibrancy is evident in Bonifacio, where shops are open until midnight and fast-food chains and coffee shops cater round the clock, mainly for call centre employees.

The BPO sector accounts for 80 to 90 percent of office space take up in the country, and is a major source of employment for the country’s nearly half a million new college graduates annually.

The industry is forecast to double its current employee base of more than 600,000 by 2016 as western companies send more accounting, legal, data processing and other back-office jobs to the Philippines, fuelling sustained growth in demand for office space.

But steady growth in demand from the traditional front office market such as banks, insurance firms, and representative offices is also fuelling the property boom.

CBRE’s Santos saw the Philippines, known as the world’s call center capital, fast becoming Asia’s back office banking hub.

JP Morgan Chase, HSBC, Bank of America, Citibank, ANZ, and Deutsche Bank have all transferred critical back office processes to Manila in the last five years, while Wells Fargo is among the more recent newcomers.

Rents are expected to stabilise in coming years as new office space totalling at least 1.3 million sqm become available in 2013 to 2015, according to Jones Lang, with little danger of property bubbles as supply is just keeping up with demand.

Outside Manila, a similar transformation is unfolding, with industrial parks, especially those close to the capital and devoted to manufacturing, drawing more foreign firms than ever before, despite cribs about the high price paid for power.

At least the increase in suppliers has meant the power outages that the Philippines was notorious for in the 1990s are now no more than a bad memory.

“What we are seeing now is the re-emergence of manufacturing, which is really good for the economy because manufacturing employs people that the BPO industry won’t employ,” Lindsay Orr, Jones Lang chief operating officer, said.

Two hours to the south, at First Philippine Industrial Park (FPIP), in Batangas province, land prices have jumped up to 60 percent from two years ago, while lease and rent rates have climbed a modest 10-15 percent.

B/E Aerospace Iinc, the world’s top supplier of aircraft cabin interiors, opened its first Asian manufacturing plant there last month. Japanese firms led by Canon’s Philippine unit also moved in this year, and FPIP president Hector Dimacali expects revenue to double this year.

“We are seeing big growth that we have never seen in the past,” Dimacali said.


For those interested to know more about Ayala Land Premier villages and condo, feel free to contact me anytime.

Thank You!

Your Ayala Land Guide,

COCO MIDEL
M: +63.917.502.9252
T: (02)577.27.12
E: midel.jerico@ayalaland.com.ph

Santierra update

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Santierra clubhouse construction update as of dec 9 2012

photo

For those interested to know more about Ayala Land Premier villages and condo, feel free to contact me anytime.

Thank You!

Your Ayala Land Guide,

COCO MIDEL
M: +63.917.502.9252
T: (02)577.27.12
E: midel.jerico@ayalaland.com.ph

Anvaya Condo

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Looking for a condo in an exclusive sea-side village?
Check this out:

Anvaya Cove Sea Breeze Verandas

Screen Shot 2012-12-07 at 2.42.44 PM Screen Shot 2012-12-07 at 2.48.55 PM

 

OPTION 1:

UNIT C-110
54sqm
P6.8M (all-inclusive price)

Screen Shot 2012-12-07 at 1.32.07 PM

STANDARD TERM:

10% downpament
10% spread in 10 months
80% lumspum on the 12th month

Screen Shot 2012-12-07 at 2.26.20 PM

CHRISTMAS PROMO TERM:

10% over 2 months
15% spread in 21 months
75% lumpsum on the 23rd month

Screen Shot 2012-12-07 at 2.33.25 PM

 

OPTION 2:

UNIT C-103
54sqm
P7.65M (all-inclusive price)

Screen Shot 2012-12-07 at 2.31.36 PM

 

STANDARD TERM:

10% downpament
10% spread in 10 months
80% lumspum on the 12th month

Screen Shot 2012-12-07 at 2.33.25 PM

 

CHRISTMAS PROMO TERM:

10% over 2 months
15% spread in 21 months
75% lumpsum on the 23rd month

Screen Shot 2012-12-07 at 2.35.58 PM

Nuvali Aerial Video

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EVER WONDERED HOW NUVALI WOULD LOOK LIKE IF YOU COULD FLY?

I came across this VERY beautiful video of ARNOLD BUENA on Vimeo.
Below are the screenshots from his video…

Screen Shot 2012-12-07 at 9.29.45 PM[1] Screen Shot 2012-12-07 at 9.32.20 PM Screen Shot 2012-12-07 at 9.40.19 PM Screen Shot 2012-12-07 at 9.41.26 PM

And his video link:

Nuvali Evoliving Aerial Shots from Arnold Buena
Fly-by shots of Nuvali Evozone, Evoliving, The Fields, wakeboard park, and mountain bike trails. Nuvali is located at Santa Rosa, Laguna 30-minutes south of Manila.


For those interested to know more about Ayala Land Premier villages and condo, feel free to contact me anytime.

Thank You!

Your Ayala Land Guide,

COCO MIDEL
M: +63.917.502.9252
T: (02)577.27.12
E: midel.jerico@ayalaland.com.ph

Ayala Land bests SE Asian neighbors for distinction as best developer in the region

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image001

For those interested to know more about Ayala Land Premier villages and condo, feel free to contact me anytime.

Thank You!

Your Ayala Land Guide,

COCO MIDEL
M: +63.917.502.9252
T: (02)577.27.12
E: midel.jerico@ayalaland.com.ph

Ayala Land launches own hotel brand

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BY RAPPLER.COM
POSTED ON 12/03/2012 6:05 PM | UPDATED 12/03/2012 6:49 PM

MANILA, Philippines – Ayala Land Inc., through unit Ayala Land Hotels and Resorts Corp. (AHRC), is set to launch the first in a series of its Seda hotels in December.

The hotel, whose brand is wholly owned by Ayala, will be located at Bonifacio Global City, one of Manila’s central business districts.
This will be followed by a second Seda hotel in Cagayan de Oro.

Seda Bonifacio Global City will offer 179 rooms, while Seda Centrio in Cagayan de Oro will house 150 rooms. Centrio is one of Ayala Land’s mixed-use developments, which include offices and retail.

In the next 14 months, Ayala Land will add a total of 665 rooms, which will be spread out among 4 Seda hotels. Aside from the Bonifacio Global and Centrio hotels, the company will build two more in The Abreeza, Davao and NUVALI projects that are scheduled to open in the first and last quarters of 2013, respectively.

“There is such tremendous opportunity in the country’s flourishing foreign and domestic tourist industries. Our Seda hotel line is well positioned to capture more than its fair market share across various regions with our superior product and strategic location within Ayala Land’s mixed-use developments,” said Al Legaspi, AHRC Chief Operating Officer.

These developments will come online as the Philippine’s booming tourism industry is set to grow. The Department of Tourism is looking at 10 million tourists in 2016. At the recent briefing on the Philippines’ third quarter gross domestic product (GDP) growth, economic officials said they are expecting the tourism industry to give the country’s service sector a major boost in the next quarter.

Ayala Land has also been looking at opportunities to create new tourism developments in the Visayas region and is looking to shore up a landbank in the region within the next two to 3 years.

“We have some (of the land bank we need in the Visayas) but there are others that we are still working on. I think easily we should be talking about 1000 hectares or thereabout. We should be moving into that magnitude,” said ALI president Antonino Aquino at the sidelines of the recently held Asia Pacific Real Estate Investment Summit.

Ayala Land currently has 634 branded hotel rooms in Hotel InterContinental Manila and Cebu City Marriott, as well as 150 island resort rooms in Lagen, Miniloc and Apulit Island (formerly Club Noah) in El Nido in northern Palawan province.

Revenues from Ayala’s hotel and resorts improved by 11% to P1.81 billion in the first 9 months, contributing to the conglomerate’s P6.6 billion net income for the period. – Rappler.com


For those interested to know more about Ayala Land Premier villages and condo, feel free to contact me anytime.

Thank You!

Your Ayala Land Guide,

COCO MIDEL
M: +63.917.502.9252
T: (02)577.27.12
E: midel.jerico@ayalaland.com.ph

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