Real Estate

MANILA, Philippines – The dramatic expansion of both the office sector and shopping and mixed-use developments in the Philippines in the last decade has attracted the interest of key investors attending a recent Asia Pacific Real Estate Association (APREA) Singapore chapter meeting in the island state.

The SM Group, one of the biggest corporate land holder in the country, decided to pass on the forming of a Real Estate Investment Trust (REIT) due to a provision that required at least 40 percent public ownership on the firm.

The Bureau of Internal Revenue has required companies planning to list their shares through the Real Estate Investment Trust Act to distribute at least 90 percent of their respective earnings to shareholders before they could enjoy tax perks from the law.

THE property sector could grow by 5 and up to 15 percent this year, driven by the increasing demand for office, residential and commercial space, real estate consultant CB Richard Ellis chairman Rick Santos said Wednesday The office space take-up this year might exceed the record 300,000 units posted in 2007, he said.

TAKE-UP of office spaces continues to rise, underscoring the bullish outlook of multinational firms in the Philippines, according to data released by a real estate consultancy firm.

THE implementation of the Real Estate Investment Trust (REIT) Act received a major boost after the corporate regulator amended certain provisions of its implementing rules and regulations, including the increase in the minimum public ownership requirement.

AFTER much bluster, fiscal authorities have bowed to market pressure to lower the public float requirement that qualifies a real estate investment trust (REIT) to tax perks.

A LOOMING interest rate hike brought on by higher inflation is threatening to cut short the bull run in the Philippine property sector.

MANILA — The Philippines’ famous diaspora of overseas workers is fuelling a boom in the real estate market back home as they snap up houses and apartments to safeguard their futures.

Demand for residential properties is likely to stay as long as interest rates remain in the low single digits, a real estate consultancy firm said. Jones Lang LaSalle Leechiu (JLLL) said the supply of residential units is “just right” for the current level of housing demand as the low interest rates make condominiums more accessible…

The excess supply of office space will likely vanish by next year, Jones Lang LaSalle Leechiu (JLLL) said. Lindsay Orr, JLLL chief operating officer, advised property developers to start building office projects this year since they would be ready for occupancy by 2012 when demand stabilizes.

SEN. Edgardo Angara foresees the Philippines’ Real Estate Investment Trusts riding the crest of the wave amid bright prospects for REITs in Asia which, he noted, has outperformed similar investment instruments in other parts of the world.

EXPERTS ADVISED property developers to put up real estate investment trusts (REITs) now that inflation is stable and there are no firms going public, claiming investors would benefit from higher yields.

THE Philippines is on the 11th and last year of a property boom but the cycle could still be extended by the Aquino administration if it rids the real-estate sector of red tape and other sources of corruption.

MANILA, Philippines – The real estate industry has unveiled a four-point wish list for the new administration, including a more proactive move to support the Real Estate Investment Trust (REIT) because this can bring in an additional $1 billion worth of investments in the industry.

A number of business opportunities have opened recently with the passage into law of Republic Act 9856, known as the Real Estate Investment Trust (REIT) Act of 2009, and the issuance by the Securities and Exchange Commission, pursuant to Section 22, of the implementing rules and regulations. The tax authorities have yet to issue their…

LOANS for housing and commercial real estate development rose 9 percent in the quarter through March 2010, reflecting the economy’s 7.3-percent expansion during the period, the central bank said over the weekend.

DEMAND for business process outsourcing (BPO) office space in Metro Manila will rise this year with prices returning to pre-crisis levels seen two years ago, according to an international property consultant.

MANILA, Philippines – The local property sector can take advantage of the growing demand for offshoring from recovering economies, commercial property and real estate services adviser CB Richard Ellis (CBRE) said.

Special Report: First of two parts DESPITE a fragile economy, Philippine property firms have begun unveiling new projects in anticipation of a rebound this year.

RENTALS in the Philippines’ premier financial district tumbled this month from a year ago as the glut in office space persisted, Jones Lang Lasalle Leechiu said Monday.

OFFICE space is likely to remain in surplus next year with rents remaining steady as the global credit crisis trims demand and builders boost supply, the multinational real estate services company CB Richard Ellis said Wednesday.

MANILA , Philippines – The country’s real estate companies maintained strong sales throughout the year despite the effects of the economic crisis and recent typhoons, according to property consultancy firm CB Richard Ellis (CBRE).

MANILA, Philippines – A law that will provide the regulatory framework for real estate investment trusts (REITS) is expected to be signed by the end of the year, allowing the Philippines to take a significant step in recognizing the importance of real estate as an alternative investment instrument.

STRONG sales in the Visayas and Mindanao brought developer Landco Pacific Corp.’s profit to P1.94 billion in the first half, 11 percent higher than its P1.7-billion target for the period, the company said yesterday.

MANILA, Philippines – The country’s property sector is expected to post a slight growth this year despite the slowdown of most economies worldwide, international real estate firm CB Richard Ellis said.

Century Properties, a top real-estate firm which has active presence in Filipino markets overseas, attests to the resilience of the residential real estate sector in the Philippines.

The Asian Public Real Estate Association (Aprea) which represents the real estate sector across Asia Pacific, has launched its best practices handbook to tackle the concerns about fragmentation in the Asian real estate markets, lack of unity and to influence greater harmonization in standards and industry practices.

MANILA, Philippines—After 20 years, the Real Estate Service Act (RESA) was signed into law by President Gloria Macapagal-Arroyo on June 29.

The domestic real estate market has already bottomed out during the first quarter of the year as home purchases have already pick ed up, the country’s biggest property developer said Tuesday.