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111 Rada Street Legaspi Village
Makati City 1229 Philippines 
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Cebu Business Park
Cebu City, 6000 Philippines
Tel: 6332 233 6422
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September 25, 2018

Offering something new to Cebu

NEWS

Belmont Group sees winning formula for Minglanilla project: residential + commercial + theme parks. It takes innovation and awareness of market needs to be able to adapt through decades in business. This is especially true for local firm Belmont Group which started its businesses in the hardware industry 45 years ago.
Eventually, they ventured into the booming real estate sector in 2010. Now, the group has diversified further into building commercial spaces and an amusement park in the southern town of Minglanilla.

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RESEARCH VIEW

Colliers believes that in the increasingly competitive real estate environment, developers need to distinguish their projects from others. We see competition intensifying especially with the completion of projects on Mactan Island, Mandaue, and South Road Properties (SRP). Apart from the typical land uses such as office, residential, retail, and hotel, developers should also incorporate other uses such as industrial, education and healthcare. We also encourage developers to integrate entertainment and recreational facilities for outdoor sports.

CLI spent IPO funds to build up landbank

NEWS

Cebu Landmasters Inc. has fully used up its initial public offering (IPO) proceeds as it strategically builds up its landbank in Visayas and Mindanao, the firm told the stock exchange yesterday. In a disclosure, CLI said around 70 percent of the IPO funds were spent to acquire land, allowing the developer to build up its landbank to 976,302 sqm. It said it acquired land in strategic areas where it is now aggressively building up new projects. The listed developer said 41 percent of its landbank is in Mindanao; 33 percent in the Visayas; and 26 percent in Cebu.

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RESEARCH VIEW

Cebu Landmasters developed its first vertical project, Asia Premier Residences, at Cebu I.T. Park. The homegrown developer was initially into horizontal residential projects but its first foray into vertical development recorded brisk take up as it banked on the quality and strong sales of its previous horizontal projects in Talisay and Minglanilla. Cebu Landmasters has since launched a mix of vertical and horizontal residential projects. The company is also into office, hotel, and industrial space development. Developers such as Cebu Landmasters continue to launch projects in key areas in Visayas and Mindanao to capture rising demand on the backdrop of robust regional economic growth.

Filinvest’s IL Corso to open in December

NEWS

As the Christmas season nears, Filinvest is also preparing to open a portion of its lifestyle mall in the South Road Properties (SRP). Il Corso, the 10-hectare al fresco and waterfront mall of Filinvest Land Inc. at the South Road Properties (SRP), will already open some of the tenants by December this year. George Calles, marketing manager of Filinvest Lifemalls, said that aside from some of the mall’s tenants, they will also be opening four state-of-the-art cinemas at the Il Corso by December.

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RESEARCH VIEW

Cebu remains a major retail hub outside of Metro Manila due to the proliferation of outsourcing companies; continued deployment of Filipino workers abroad whose monthly remittances fuel household spending; influx of local and foreign tourists; as well as sustained generation of employment opportunities in major economic sectors such as construction, manufacturing, and export processing. Overall, Colliers has observed that despite the substantial increase in retail stock following the entry of national developers, overall vacancy remains low as the additional supply is offset by a continuously expanding local economy which effectively boosts Cebuanos’ disposable incomes.

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Philippines
Colliers International | Manila 11F Frabelle Business Center, 111 Rada Street Legaspi Village, Makati City 1229 Philippines | Tel: +632 888 9988