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June 11, 2018

URC builds P1-B Vitasoy facility in Pampanga

NEWS

GOKONGWEI-LED Universal Robina Corp. (URC) is investing P1 billion for a new manufacturing facility in Pampanga that is targeted to open in 2019.

In a news conference in Quezon City on Wednesday, URC Chairman Lance Gokongwei said the plant would manufacture purely Vitasoy products, a new brand it recently rolled out in a joint venture with Hong Kong-based Vitasoy Group.

URC entered into an agreement with the Vitasoy Group In February last year to market the latter’s products in the Philippines. The deal included putting up a new plant to allow for the local manufacture of Vitasoy products.

At the same conference, Gokongwei said the company expected a turnaround in its financial performance starting in the second half of this year.

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RESEARCH VIEW

The consumption-led economy has been driving the demand for food and chemicals used to manufacture fast-moving consumer goods such as shampoos and detergents. The Philippine economy has been accelerating over the past few years and we see this growth being sustained over the near to medium term by sectors such as investments, manufacturing, and exports. These economic segments also propel the demand for industrial parks and facilities across the country. The government’s infrastructure implementation and decentralisation thrust is pushing developers to build more townships outside of Metro Manila. Among the provinces that are benefiting from aggressive township development are Pampanga and Tarlac. Aside from the typical office, residential, and retail projects, property players should also consider developing industrial space and facilities within these integrated communities to maximise the available talent and infrastructure. Colliers also believes that developing job-generating industrial parks is crucial in supporting the economic feasibility of these integrated communities.


EXPANSION ON TRACK: VLL to end year with 30 malls

NEWS

VISTA LAND & Lifescapes, Inc. (VLL) targets to have 30 Vista Malls by the end of 2018, located near its master planned projects to support the needs of its residents.

This will give the property firm of tycoon Manuel B. Villar, Jr. a gross leasable area of close to a million square meters by the end of the year.

“We’re on track for our expansion, for example just recently we opened our 23rd Vista Mall. And by 2018 we hope to open up to 30. Inside the Vista Mall of course, the anchor is the All Day Supermarket, All Home, Coffee Project, and Bake My Day, all of which are doubling in size in the next two to three years,” Camille A. Villar, managing director of Vista Land Commercial, said in a recent interview.

All Home, All Day Supermarket, All Toys, Coffee Project, and Bake My Day are under Mr. Villar’s retail arm, All Value Holdings Corp. (AVHC).

year. The coffee shop recently opened its 24th branch in Vista Hub, Bonifacio Global City last April.

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RESEARCH VIEW

The retail arm of the Villar Group has been aggressive in opening retail outlets across the country’s capital. The group is offering eastern Metro Manila residents with more options following the completion of its AllHome (a onestop home needs store), All Day supermarket, Bake My Day bakeshop, and Coffee Project outlets along Circumferential Road 5 (C-5) in Libis, Quezon City in December 2017. Developers are enticed to build more retail outlets in Metro Manila due to robust macroeconomic fundamentals. In 1Q 2018, the Philippine economy grew by 6.8% from 6.5% in the same period last year. Gross Domestic Product (GDP) per capita, a proxy for individual income, grew by 5.1%. Meanwhile, household expenditure grew by 5.6% in 1Q 2018, slower than the 5.9% growth in the same period of 2017. The decline is attributed to a higher inflation rate.

Megaworld sells two-thirds of Pampanga property for P1 billion

NEWS

PROPERTY developer Megaworld Corp. on Monday said it sold around 70 percent of its Pampanga project called Shophouse District.

Megaworld said it expects P1 billion in sales from the Shophouse District, which was formally launched in June last year.

Current prices of lots range from P12 million to P32 million. About 10 months after its launch, prices of Shophouse lots in Capital Town, the new name of the township located near the province’s capital, have already increased by 20 percent, the company said.

Turnover of lots to owners will start by year-end of 2019.

“We expect property prices to even soar higher once we near completion of the Shophouse District’s land development,” said Eugene Em Lozano, the company’s first vice president for sales and marketing.

The 6.3-hectare Shophouse District in San Fernando, Pampanga, is composed of 98 lots ranging from 276 square meters  to 680 sq m.  It allows lot owners to build their own three-level Shophouse in neoclassical and art-deco architecture. They can use the ground and second levels for commercial purposes, while the third level may be used as business owner’s residence.

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RESEARCH VIEW

Megaworld has been aggressive in developing projects in Metro Clark. Its Capital Town development in San Fernando covers 35.6 hectares. The project will feature residential towers, office buildings, retail outlets, schools, an amphitheatre, and events venues. The project will be on the former site of Pampanga Sugar Development Company. It is located near the Pampanga Provincial Capitol, and is within five minutes from the North Luzon Expressway and 30 minutes from the Clark International Airport. Megaworld, like a number of national developers, is cashing in on Pampanga’s potential as a major property investment hub outside Manila. The enhancement of the country’s infrastructure backbone should unlock land values in urban areas outside of the country’s capital including Metro Clark. This should dictate the strategies of local and national developers. And with Metro Clark being a major beneficiary of the government’s “Build, Build, Build” programme, we see more developers gravitating towards the region over the medium to long term.

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