Economic driver. Tsuneishi Heavy Industries with its more than 11,000 workers drives the economy in Balamban and neighboring towns and city in southwest Cebu. (Contributed Foto) MORE than 20 years ago, there were only a few opportunities for trade and employment in Barangay Buanoy in the southwestern Cebu town of Balamban. From being a fourth-class municipality, Balamban became a first-class town with a total regular income of P301.9 million in […]

Headed North. Paramount Property Ventures chief operating officer Emmanuel Victor Estrella (left) bares the company’s plans. With him are president Abelardo Cañedo Jr. (center) and chair Filomena Cañedo. (SunStar Foto/Arni Aclao) RIDING on Cebu’s robust housing sector, motorcycle manufacturer and distributor Norkis Group is venturing into housing development through its partnership with Cañedo Equity Ventures (CEV). Their first project together is a 600-home subdivision in a 10-hectare property in Barangay […]

Fancy a dip? The 25-meter infinity lap pool is one of the features guests can enjoy at the newly opened Bai Hotel. (SunStar Foto/Allan Defensor)GUESTS will have a lot to look forward to in the coming months as Bai Hotel opens up more rooms and becomes fully operational by the end of this year. Out of 668 rooms, 200 rooms were opened to the public last Wednesday. In the coming […]

CEBU Landmasters Inc. (CLI) unveils the third and final phase of its Mivesa Garden Residences, a garden-inspired condominium in Lahug, Cebu. Dubbed as Cebu’s fastest selling condo in the 2016 market research of Santos Knight Frank (formerly CBRE), CLI adds to the condominium project towers 6 and 7, with 10 identical storeys and 288 residential units. The development’s latest phase offers a mix of studio and 1-bedroom units with sizes […]

THE Bangko Sentral ng Pilipinas (BSP) wants banks to report more detailed breakdowns of banks’ real estate exposure. In a statement, the central bank said that the Monetary Board has approved additions to the reporting requirements of banks on real estate loans. The revised Expanded Report on Real Estate Exposures will be implemented starting on June 30, 2018. “Under the new guidelines, covered banks shall report granular information on their […]

CEBU Landmasters Inc. (CLI) announced Thursday that it is set to roll out P10.61 billion for projects in the Visayas and Mindanao in the remaining months of the year, bringing the total investment to P17.7 billion for 2017. The capital expenditure will be spread out over 14 horizontal and vertical housing, as well as hotel projects in Southern Philippines, largely driven by the demand for housing and tourism facilities in […]

TOTAL residential real estate loans (RRELS) of the banking system reached P530.7 billion in the first semester, data from the Bangko Sentral ng Pilipinas (BSP) show. Sustained household investments in residential properties, the growing number of real estate projects, and intensified promotional campaigns by banks, supported the 15.6 percent year-on-year growth in real estate purchases in the first six months of the year, according to the central bank’s Second Quarter […]

Closer to work. With fewer house and lot units sold in the urban areas, condominiums are becoming a popular choice among younger buyers. (SunStar File) A 400-member brokers’ organization continues to enjoy an upbeat real estate sector in Cebu, amid demand for properties and houses expanding outside main cities. For the seventh year celebration of the Cebu Real Estate Expo, Cebu Real Estate Board Inc. (CEREB) first vice president Eva […]

CEBU Landmasters (CLI) will be taking its fourth Casa Mira development to Sibulan, Negros Oriental, the Casa Mira Coast. Located five minutes from the Dumaguete Airport and walking distance to the shoreline, Casa Mira Coast is a 5.3-hectare residential subdivision with 550 townhouse units. CLI’s first project in Negros Oriental boasts of generous amenities such as a clubhouse with an adult and kiddie pool, landscaped areas, multi-purpose court, and playground. […]

WITH its thrust to expand outside its home base, Cebu Landmasters purchased a 7.2-hectare property in Cagayan de Oro City for P133 million. The city, now considered as highly urbanized and the 10th most populous in the country, is one of the key sites identified by the company for expansion as stated in the use of IPO proceeds. The property will be developed into a residential project under the Velmiro […]