MERGED: South Road Properties (SRP) News, Issues, and Developments

[vahnhelsing]

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luoy bah kai na kita na ila katag wakekekek

lihay man gihapon bro.... murag sayaw nga langgam lisod kaayo dakpon....
iay daddy pabs, bang nireact na ug sugod.. klaro na kaayo ni.... sus mga hari sa cebu, cge pangilad pa unya mo....

[gikapoy]

lihay man gihapon bro.... murag sayaw nga langgam lisod kaayo dakpon....
iay daddy pabs, bang nireact na ug sugod.. klaro na kaayo ni.... sus mga hari sa cebu, cge pangilad pa unya mo....

lagi hehehe
building ug lot tirada tirada

[lomotel]

I'm creating another thread regarding the current development of SRP. I browsed the previous thread here but those were full of NEGATIVE issues marred by political controversies.

This thread is purely about the developments of SRP, from current buildings and projects to anything positive news on our beloved SRP.

If you're one of the CROCS and CRABS from the capitol whose job is to destroy the image of SRP then please post your comments elsewhere.

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Filinvest Land sees further growth, starts new projects
Companies
Written by Miguel R. Camus / Reporter
THURSDAY, 03 SEPTEMBER 2009 22:38

DESPITE the challenges to economy, Filinvest Land Inc. (FLI) remains optimistic over its real-estate prospects this year, confidently targeting double-digit sales growth as it prepares for a new multibillion-peso project in Cebu City said to begin by early 2010.

During a lunch briefing, FLI president and chief executive officer Joseph Yap said the company is targeting between 10-percent and 15-percent growth in terms of residential sales on the improving economy and remittances from abroad.

For the full year, the listed property development arm of tycoon Andrew L. Gotianun expects to sustain its first-half profits, which amounted to P759 million, or a 6-percent improvement from the same period last year.

“This is not the growth we have been seeing in previous years, although remittances continue to shore up growth, and that certainly has a major impact in terms of demand for housing in the Philippines,” Yap told reporters on Thursday. “As long as remittances show growth, we expect the same in the real-estate market.”

The company looks to the property industry as its main source of income. Real-estate sales in the first six months of the year accounted for over 60 percent of revenues, FLI’s financial statements show. “The bulk of sales come from affordable- and middle-income markets, which [account for] 70 percent to 80 percent of total sales. We are firmly established in middle-income market,” added Yap.

As part of its long-term strategy, FLI is targeting to start the first phase of a joint-venture project with the Cebu City government to develop the 50.6-hectare South Road Properties project.

Tristan Las Marias, the FLI vice president appointed to head the project, said the project will be a community of high-rise and medium-rise buildings targeting the local as well as international markets.

Part of this plan, he added, includes a 10-hectare development for a new business district which will include malls, residences, hotels and office buildings.

“All told we’re looking at [investing] P20 billion spread over 20 to 25 years of development. Construction of the first phase will probably begin by first quarter of next year at the latest,” said Las Marias.

Filinvest Land sees further growth, starts new projects

[gikapoy]

naa mga taw nga walai share mao nang cge samok2x
multiplier effect

[rig]

Madayon ba kaha ang SM magtukod ug mall dire?
Up nako ang thread interested sad ko sa updates sa SRP.

[fingolfin]

.. damn nice reading good news. It would be a wonderful sight when SRP will be filled with buildings. All we can do is to be patient. Just like the road widening project, during construction it was a pain in the arse, but look at us now, damn big roads. Patience is indeed a virtue.

[lomotel]

CEBU, Philippines - Filinvest Land Inc., the first closed sale of the South Road Properties will have its formal groundbreaking in December.

Cebu City Mayor Tomas Osmeña recently announced of the groundbreaking, but this does not mean that it is only from there that Filinvest will start its work on the 50.6-hectare area.

“They had started working already on their drainage system, by the way their own ha. I have to make it clear, contrary to what Pablo John (Garcia) said that we will do all the work for them. He is distorting the whole thing. Our drainage work is only in the major areas, just like in subdivisions,” Osmeña said.

Osmeña also said that Filinvest already presented its masterplan for the 10.6-hectare Pond F.

“It is very exciting. Just have to make some adjustments. Hotels, high-rise buildings, waterfront development, entertainment, shopping,” Osmeña said.

The Development Master Plan is to be approved by the City Council 10 to 12 months since the signing.

According to the Joint Venture Agreement, Filinvest will have to start construction six months after signing as well as payment of the first P325 million.

Payment and signing would have been in December yet, but it was delayed because the Cebu Province expressed interest to challenge the proposal of Filinvest.

Eventually, the Cebu Province was turned down twice mainly because of the lack of jurisdiction or identity.

According to the rules, only private entities or corporations are allowed to submit a competitive challenge against Filinvest’s unsolicited proposal.

The Cebu City government stands to earn from the outright sale of 10.6-hectare Pond F, amounting to P1.546 billion for the first three years, and from its 10-percent share in the sale of built-up units in the 40-ha. area, or a minimum guaranteed return, whichever is higher at the 40-hectare JV area.

The properties covered by the joint venture will be developed in 20 years, at 10-ha. for a maximum of five years. – Ferliza C. Contratista/MEEV (THE FREEMAN)

[samsungster]

sana masugdan na ug construction so that daghan maka trabaho,.,.

[ronz_rodz]

maytag masugdan na... para ara ko apply... hehehe! Good News diay ni.. maytag walay Corruption para mahuman jud dayon ang constructions

[fingolfin]

maytag masugdan na... para ara ko apply... hehehe! Good News diay ni.. maytag walay Corruption para mahuman jud dayon ang constructions

.. there would be LESS corruption since it's private investors that's doing their own construction on their infrastructures. This isn't similar to cicc and capitol.