Andrew L. Tan, one of the construction magnates and nation builders, is envisioning a world class township project located in Lapu-Lapu City, Cebu- The Mactan Newton.
The Mactan Newtown, which was also declared as special economic zone, is said to be the biggest project of Megaworld in Southern Philippines.
The Megaworld Group under Tan will be investing about 20-Billion pesos for the next 7 years in this 6-hectare integrated township development patterned after its Eastwood City project in Quezon City.
Megaworld already launched the four-tower One Pacific Residences, which has 3 residential towers with a total of 540 units. The two residential towers are already sold out to Japanese market while the remaining residential is being marketed to local buyers. The fourth tower is an office building for potential BPO companies.
The Department of Transportation and Communication will start its bidding for the P350-Million Consultancy Services Civil Works of the LRT Line 2 East (Masinag) Extension Project. Through the General Appropriation Act 2013 intends to supply the fund being the Approved Budget for the Contract to payments under the contract for Consultancy Services for the Civil Works of LRT 2 East Extension Project.
According to DOTC, the bidding will be conducted through open competitive bidding procedures using non-discretionary “pass/fail” criteria as specified in the Revised IRR of RA No. 9184.
The project will extend the line of LRT 2 from Recto in Manila all the way to Masinag in Antipolo. The lines route is currently Recto to Santolan in Marikina.
Another expansion project in the creation of an aviation hub at Clark International Airport which will cost about 6-Billion pesos.
The building of a 15-Million passenger terminal with 16 parking base for aircrafts and a twin two-storey parking lot that could accommodate 1,700 cars was the first of the pre-Feasibility Study presented by Benjamin S. Solis, an expert involved in the study on how to develop the aviation hub. The United States Agency for International Development, through Asia Foundation, funded the study. The foundation, in which Solis is the air transport adviser, commissioned REID Foundation to conduct the pre-feasibility study, which ran from September to December last year.
The Clark International Airport has the potential to be an “aeropolis” which is an Economic Zone development as a fully aviation hub.
Aside from this development, the ALMAL Investment Corporation has offered to develop a Terminal 3 at Clark International Airport. If this push thru, it will make Clark International Airport as one of the largest and most technologically advanced airports in the world and can handle 80 million passengers a year. This proposed project will include 3 parallel runways, a high-speed train, and can accommodate the A380, a double-deck, wide-body, four-engine jet airliner by Airbus.
While I forecasted in 2010, the wealthy high end Makati Central Business District will slow down by the year 2013. The indicator of slow growth in real estate is the rental rates.
It has been noted by second quarter that the real estate values and rentals have been going at a very fast rate since2010. However, by the start of this year, the index price has not moved up.
My own experience proves this because we have been trying to lease out a Grade A office space at P600/sqm. Since the last quarter of last year, and as of mid-February this year, there are no takers.
Jones Lang La Lasalle noted that the average Grade A or prime office rent in Makati CBD stood at $230 per sqm per annum or an increase of 3.3%. However, for 2012, capital values in profit grew 5.2% compared to a growth of 10% in 2011.
Meanwhile, Vista Land’s Camella Communities will be opening a “three-enclave” residential project in Davao this year- Northpoint Davao. It is Camella’s landmark condominium development in Davao. The development will cover 27-hectares in the Buhangin District. The “three-enclave” concept will compose of (1) low-cost section, (2) affordable area, and (3) high-end section.
Camella Is set to unveil the third tower of Northpoint on March 26. The third building will be a historical one as it will be the first residential condominium in Davao to have 10-storey floors. The keen interest on the newest addition to the Northpoint towers is set off by the success of the first two buildings, Manchester which was sold out and Birmingham, which is close at its heels.
The city government will work together with the private sector developers in the promotion of investment in real estate to meet the demand of the growing residential market. There is also ecological and environmental concern that Davao will be working on such as a comprehensive plan to address issues like how to prevent flooding in the city.
With the issues already being resolved, the proposed road project that will connect the North Luzon and South Luzon Expressway will pave way to start this infrastructure project.
DOTC refused to divulge the issues but the recent actions means it would pave way to start the project once President Aquino gives his green light.
“It’s somewhere between the two proposals which the TRB (Toll Regulatory Board) will formalize in the STOA (Supplemental Toll Operation Agreement),” DOTC Secretary, Joseph Emilio Abaya, said.
The project is proposed by Manny Pangilinan-led, Metro Pacific Tollways Corp. (MPTC) while other road will be undertaken by the San Miguel Corp. (SMC)-backed Citra Metro Manila Tollways Corp. (CMMTC).
Metro Pacific Investments Corp, which is also owned by Pangilinan, is investing P6.77-B in the holding firm that controls Manila-Cavite Expressway, also known as Cavitex.
MPIC will provide management assistance to Cavitex Infrastructure Corp. (CIC, formerly UEM-Mara Philippines Corp), which operates and maintains Cavitex. With its expertise and experience in operating the NLEX and Subic-Clark-Tarlac Expressway (SCTEx), MPIC can help improve the road system of Cavitex.
MPIC already submitted its bid for the NAIA Expressway Phase II that will link Skyway and Manila-Cavite Coastal Expressway to the NAIA, the country’s international gateway.
Another project of MPIC is the Harbour Link, with the segments 9 and 10. The P11-Billion project is expected to be completed by 2016. The status are: Segment 9- Right of way acquisition, construction to begin this year and Segment 10- Working with Government for right of way acquisition budget. Citilink, a P7-billion project, status is completing detailed engineering design.
The new airport plan of San Miguel Corporation under its President, Ramon Ang, is said to be either at Bulacan. Ang gave a hint that “It will sit on a 2,000 hectare undisclosed property and can handle 150 take offs per hour” and it will be in North of Manila. He disagreed with a report hinting that the airport will be in Cavite.
Ang said PAL’s proposed airport would take a passenger to EDSA-Ayala in only 15 minutes through a skyway because the airport will be linked to the Makati business district via a six-lane “skyway” in order to bypass Manila’s traffic congestion.
Ayala Land is said to have consolidated 1,000 hectares of land in Palawan for a township project. If this were true, then, the “Unpolished Diamond” of Palawan will be a truly valuable jewel of Asia.
Ayala Land is also set to develop the former Nestle compound in Alabang for its first mixed-use community and commercial project through its Avida Land subsidiary- South Park District. Avida Land will spend P12-Billion for the 6.6 hectare project, which will become a part of Ayala Land’s expansion to the south of Metro Manila.
The South Park District will be a 10-year development project that will host seven residential towers, two office buildings, and a shopping mall. This will boost the business atmosphere in Alabang and will also complement the Ayala Land’s roster of developments in the area such as Ayala Alabang Village, Madrigal Business Park, Alabang Town Center, Ayala Southvale, and Avida Towers Alabang.
After acquiring the FTI property from the government last year, Ayala Land has started to unlock values from the property which is now called as “Arca South”. Ayala Land has sold about 17 commercial lots in different sizes, typically ranging between 2,500 and 3,000 sqm and with a price range of P150,000 to P155,000.
The master plan of Arca South, which will take 10-15 years to develop, is similar to the Vertis North project of Ayala Land in Quezon City. Ayala Land will also put up their own buildings, at least 10-20 buildings. All buildings in Arca South will be around 9-storeys only because of the height restriction owing to proximity to NAIA.
Ayala Land will also develop the old Sta. Ana Race Track for P20-billion as a part of their urban renewal project for Metro Manila. The new development will be called as Circuit Makati. It is a 21-hectare integrated mixed-use project anchored on entertainment experiences. Circuit Makati will be linked to Makati CBD via the planned Ayala Avenue extension and South Avenue.
SM Development Corporation aims to sustain its growth as it is eyeing to expand into medium-rise building development, and thus increasing its nationwide presence.
CEO, Henry Sy, Jr. said that SMDC will broaden its product by launching a new residential project priced at P1-million to P1.5-million in Fairview, Quezon City. This will cater to the housing needs of families. Sy also noted that SMDC boosted its landbanking and purchasing operations with a total of P20-billion worth of acquired prime locations. This year, SMDC has an estimated land inventory of 50 hectares in Metro Manila.
And also, SMDC units remained very strong and inspired by the overwhelming response of the market 3 more new projects will be launched this year.
The Wind Energy Power System is a wind farm project located near Puerto Galera, Oriental Mindoro. The project, developed by Philippine Hybrid Energy Systems, Inc. a joint Philippine, Italian, and American developer, will become the largest in the country generating an estimated 48MW of electricity once completed.
Congressman Rodolfo Valencia, along with Cong. Rey Umali, Governor Alfonso Umali, and the Local Government of Mindoro has been supporting this project as a part of the Proposed Luzon Mindoro-Interconnection (LMI) signed by President Aquino. This project will allow for excess electricity to be transported to the nearby island of Luzon.
A notable and well-known realtor, Congressman Valencia is doing well in the fields of politics and real estate, setting his sights on viable aspects of development not only on his province, Oriental Mindoro but the whole country and elevates the quality of life of the Filipinos.
Infrastructure development by government spending of the Aquino administration is keen on hiking infra spending to P698 billion or 5% of gross domestic product (GDP) in 2016 from P249 billion or 2.6% of GDP in 2012.
The World Bank has been encouraging the Philippine government to increase its infrastructure spending in order to reach its goal of achieving inclusive development for the country.
The Aquino government has undertaken master plans for massive infra projects, including the flood control and high standard highway for Metro Manila.
The wealth of a nation is not just the developed projects in the infrastructures but the talent, professional competence, and brilliance of the Filipino. Our world-class capability of building the nation is rooted in the individual qualities of the professional. May we always treasure our value and wealth.