Trumps Eye More Philippine Projects

Manila (Philippine Daily Inquirer/ANN) - Two sons of American tycoon Donald Trump flew in from New York yesterday for the groundbreaking of Trump Tower Manila, a luxury tower to be developed by Century Properties Group and the first of what is hinted to be a series of property projects involving the Trump brand in the Philippines . This will not be our last project in the Philippines . We’re looking forward to rolling out a couple of things," Donald Trump Jr. said in a press briefing. He hinted that talks have started with the Antonio family-led Century group for follow-up projects.

Trump Tower Manila is a US$150-million, 56-storey residential development project of Century with the brand name and mark under license from the Trump. It will rise in Century City , the Century group’s 3.4-hectare flagship development along Kalayaan Avenue in Makati City in Metro Manila.

Century founder and chairman Jose Antonio said this project was very relevant in assisting the positioning of greater Metro Manila as a ¿cosmopolitan¿ city. He noted that cosmopolitan cities elsewhere in the region like Hong Kong, Shanghai and Singapore had captured a lot of investments and having a quality development and a strong brand should groom Metro Manila into a better position.

Quality will always be remembered long after the price has been forgotten," he said.

The residential units in Trump Tower Manila is selling at an average 200,000 pesos ($4,700) a square metre. Based on the size range of between 57 and 400 square metres, the smallest unit is priced at 11.4 million pesos (269,000) and the biggest at 80 million pesos ($1.8 million). The units will be turned over to buyers by 2016.

Robbie Antonio, Century managing director, said 70 per cent of the 222-unit residential development had already been sold since the project was launched in September 2011.

The fact that a Trump-branded development is rising in the Philippines is a testament to the increased confidence of the international sector in our country’s potential to become a world-class destination. As a standard bearer of excellence in residential living, Trump Tower Manila also positions the Philippines as the ideal place of residence for global citizens," the younger Antonio said.

We are overwhelmed with the tremendous success of this project in such a short time. Trump Tower Manila has already received accolades even prior to breaking ground, which is an incredible accomplishment further showcasing the strength of the local market and its increasing demand in the ownership of luxury real estate," Eric Trump said.

He added that the design of Trump Tower Manila was such that the Trumps wanted to have the best building not only in the Philippines but in Asia and the world."

SAMUEL LAO BLOGSITE: Developer aims for middle

SAMUEL LAO BLOGSITE: Developer aims for middle

Healthy economic signs boost real estate sector

By Ehda M. Dagooc (The Freeman) 

CEBU, Philippines - As real estate products such as house and lots and condominiums become more affordable, it is no longer far-fetched for Filipinos to realize their dream of having their own properties, even for the ordinary wage-earners.
 Economist Eduardo R. Banaag, Jr., projected that in the next few years, more Filipinos will be able to own homes, even cars, as banks now ease up requirements for consumer loans to attract more borrowers.
Banaag said economic indicators have reflected the improving purchasing power of the average Filipino, which has in turn encouraged banks to offer attractive consumer loan packages.
He added that the real income of Filipinos has increased by 53 percent in the last five years in terms of per capita income, which has encouraged more developers to build subdivisions to take advantage of the increasing appetite for consumer loans.
The good economic fundamental of the Philippines, which also brought down a stable and lower interest rates, has further widen the doors for consumer credit offers, attracting more Filipinos to buy properties, may it be for personal keep or for investment purposes.
The low single-digit interest rate according to Banaag is expected to sustain in the long term, unless there is an adverse intervention in the economic development of the country, including external factors.
In general, he said interest rates will continue to settle, which in fact may be one of the lowest level in the last couple of years. Thus, he suggested that today is the right time for people to avail of the loans offered by banks.
Aside from the growth of BPO (Business Process Outsourcing) employment, tourism, and other industries, the sustained income of OFWs, despite the struggling economies of United States, and Europe also bolstered the improvement of Filipinos’ income.

The country’s financial system is carrying excess liquidity of at least P1.7 billion, and this has to be disposed to the system to further boost the economy.
Among other attractive sources of disposing this money is through loans, in both consumer and corporate loans, Banaag said.
Consumers will be able to get cheaper interest rate loan deals from banks, while corporate clients likewise are offered good rates for capitalization requirements such as real estate development projects, among others.
Last year, growth for real estate loans in the Philippines grew by 20 percent, Banaag said this figure is seen to grow further this year, while more banks are actively creating different packages for consumers partnering with real estate developers. (FREEMAN)