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December 18, 2017

RRHI invests in online store BeautyMNL

RRHI disclosed to the Philippine Stock Exchange on Wednesday that it had bought 20 percent of Taste Central Curators Inc., operator of BeautyMNL. The company said the acquisition was mean to “further expand and strengthen RRHI’s presence in the beauty format and e-commerce space.” BeautyMNL was described by RRHI as “an industry leader in the local beauty e-commerce space.” The amount of acquisition was not disclosed but RRHI said this accounted for less than 10 percent of its total stockholder’s equity. The company from whom the shares were acquired is a juridical corporation not related to RRHI. BeautyMNL sells over 13,000 products across the skin care, make-up, hair care, nails and scents, organic and accessories. RRHI, a multi-format retailer, is one of the biggest players in Philippine retailing. It is valued by the stock market at around P130.2 billion.
(Source: Philippine Daily Inquirer, 13 December 2017)

Colliers believes that developers and retailers in the Philippines do not migrate totally to e-commerce but in fact use online shopping and social media platforms to complement their physical stores. Developers and retailers have been aggressive in expanding their presence online due to rising demand for online shopping. We expect online shopping to thrive over the near to medium term given the private telecommunications firms' efforts to improve internet connectivity in the country. We expect strong retail sales over the next 12 months on the back of sustained overseas Filipino workers (OFW) remittances, contained inflation, and a generally stable macroeconomic backdrop.

Ascott’s lyf to debut in PH

Property developer Cebu Landmasters Inc. (CLI) has inked a new deal with international serviced residence operator The Ascott Ltd. to build a new 153-room hotel property in Cebu City targeting young travellers. The upcoming serviced apartment will mark the Philippine debut of Ascott’s hospitality brand “lyf,” which targets the growing wave of millennial and millennial-minded travellers. The latest property deal, CLI’s third partnership with Ascott, is also expected to boost CLI’s hotel portfolio to 600 rooms in four years’ time. The upcoming property, “lyf Cebu City,” is envisioned to be a “fun, quirky and unique” accommodation designed to promote collaboration and connection in a community. It will have communal spaces or co-working areas that can be easily transformed into zones for workshops or social gatherings. It will also have a social kitchen where guests can prepare home-cooked meals, take cooking classes and socialize while learning more about global cuisines from other residents. “The growth potential offered by tourism is very promising and we are happy to be teaming up for the third time with The Ascott Ltd. in this project set to introduce new industry benchmarks,” CLI chair and chief executive officer Jose Soberano III said in a press statement. “Cebu Landmasters is committed to bring the latest to our Vis-Min (Visayas-Mindanao) markets, especially the influential and flourishing millennial generation, and to the other markets where hospitality continues to be in demand,” Soberano added.
(Source: Philippine Daily Inquirer, 06 December 2017)

Aside from young travelers, residential units and accommodation facilities in Cebu are enjoying high take-up  rate due to continuously growing interest in the city as a primary investment destination outside of Metro Manila. Much of the demand for prime units is attributed to high-ranking local and foreign executives employed by Cebu’s burgeoning outsourcing and industrial sectors. High-spending foreign tourists and retirees also contribute to the sustained take up. Aside from their strategic locations, condominiums in Cebu continue to enjoy high occupancies due to their hotel-like amenities and proximity to beach resorts and other tourist destinations.

A township project in Liloan

A township development has risen in the town of Liloan strengthening its place as a premier residential and commercial enclave in northern Cebu. Duros Land Properties Inc. (DLPI) launched Northside Beacon, a 200-hectare integrated masterplanned development last December 7 with president Rafaelito Barino, vice president Fe Mantuhac Barino and Duros Group officials unveiling the property marker. Rafaelito said Northside Beacon is the flagship project of DLPI and is being developed in the town where the Mantuhac-Barino family resides.
“This is an integration of the businesses of the Duros Group since we started 30 years ago … a family business which started in 1987 to keep the family together,” said Rafaelito. The Duros Group of Companies is in the business lines of real estate, construction, interior fabrication and manufacturing, property management, education and food. With an estimate project cost of P8 billion over a 15-year development period, Northside Beacon highlights two central amenities: the 18-hole par 72 Liloan Golf Course, and the full-fledged elementary and senior high school, Divine Life Institute of Cebu (DLIC).“Northside Beacon was inspired by Liloan, a place we call home because this is where we came from. My great great grandparents are from here,” said DLPI vice president Fe Barino.
(Source: Philippine Daily Inquirer, 08 December2017)

National developers have been aggressive in developing townships in Cebu as it is recognized as the premier investment destination outside of the country’s capital. Cebu has also undergone significant transformation over the past few years. Integrated communities have become popular in Cebu given the inadequate transport infrastructure in the traditional business district – the Uptown/Downtown area. The national developers were successful in developing townships in the country’s capital and have applied the same concept in Cebu. The developers are bridging infrastructure gaps and unlocking opportunities by building master-planned communities that have the potential to become major catchment areas for business activities in the province.



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