DOTC, MWM Terminals ink deal for P3.3B Parañaque transpo hub

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MEGAWIDE CONSTRUCTION Corp. has allocated about P1.61 billion this year to finance the public-private partnership (PPP) contract it won to build, transfer, and operate an integrated transport terminal hub in southern Metro Manila, which is set to be signed this week, its executives said last Friday.

“For ITS-Southwest, the funding is ready. Since we partnered with Walter Mart, the share will be 51% Megawide, then 49% with Walter Mart (WM),” Megawide Chief Executive Officer Michael C. Cosiquien said on the sidelines of an inaugural ceremony in Bulacan on Friday, when asked about his company’s financing plan for the P3.15-billion transport terminal PPP deal.

Artists Sketch of proposed project

MWM Terminals, the consortium of Megawide and WM Properties, Inc., was awarded the 35-year concession agreement in January, after offering the lowest annual grantor payment of P100 million which the government will pay for the services of the winning bidder.

The only other bidder, Filinvest Land, Inc. offered P650 million.

“The project cost isn’t that big compared to other PPP projects wherein we need to borrow money. ITS Southwest is only P3.15 billion, so we are ready to finance the project,” Mr. Cosiquien explained.

He added that his consortium targets to sign this week the concession agreement for the PPP deal. “It looks like we are ready to sign next week; we’re just finalizing some minor details with DoTC (Department of Transportation and Communications),” he had said last Friday.

Signing for the deal to build, transfer to the government, and operate an integrated transport hub in southern Metro Manila was originally set for Feb. 25. But due to clarifications regarding the process of property titling for the 4.59-hectare project site in Parañaque City, the signing was held back.

“The 4.59-hectare property involves two titles: both aren’t secured yet,” Manuel Louie B. Ferrer, Megawide’s corporate information officer, told reporters early this month. He added that the DoTC negotiated with MWM Terminals’ legal team in March, “giving us comfort to get a permit to start the construction right after the signing.”

Both lands, Transportation Spokesperson Michael Arthur C. Sagcal said in a text message on early this month, belong “to PRA (Philippine Reclamation Authority).”

The Transportation department plans to bid out deals for Metro Manila’s two other integrated transport terminals.

The ITS-Southwest project that will be built on a 4.59-hectare area will connect passengers coming from Cavite to transport services that serve Metro Manila.

The project will include a passenger terminal building, arrival, and departure bays, public information systems, ticketing and baggage handling facilities and park-ride facilities.

The winning bidder will operate and maintain the facility for 35 years.

The terminal is expected to start operations in April 2017.

Mr. Cosiquien said last Friday that MWM Terminals is “still on schedule” in terms of the construction of the project.

The ITS-Southwest project is the fifth PPP deal won by Megawide. It also won the P34.44-billion contract for the Mactan-Cebu International Airport Passenger Terminal Building; P5.62-billion Modernization of Philippine Orthopedic Center; P16.28-billion first phase of the PPP for School Infrastructure Project; among others.

*courtesy of bworldonline.com By Chrisee Jalyssa V. Dela Paz, 2015

MANILA, Philippines – The Department of Transportation and Communications (DOTC) and MWM Terminals, led by Megawide Construction Corp., signed yesterday the concession agreement for the proposed P3.27-billion transportation hub in Parañaque City.

Transportation Secretary Joseph Emilio Abaya said the signing of the concession agreement would pave the way for the start of the construction of the Integrated Transport System – Southwest Terminal in Parañaque City.

This is the first Public Private Partnership (PPP) project awarded by the government this year. MWM Terminals is a partnership between Megawide and WM Property Management Inc.

 

DOTC spokesperson Michael Arthur Sagcal said MWM Terminals has to start construction eight months from the signing of the agreement and should be completed within a period of 18 months or until June 2017.

MWM Terminals representative Louie Ferrer said the terminal would accommodate provincial and metro buses as well as other public utility vehicles.

Ferrer said the mixed-use development would also feature a mall and office spaces for the convenience of passengers.

“We are proud to once again partner with DOTC on such a landmark project. With the Southwest Terminal, we are able to facilitate the faster and more efficient flow of traffic carrying people and goods to and from Metro Manila. It will benefit thousands of commuters daily. Our infrastructure is finally catching up to our growing economy,” Ferrer said.

According to Ferrer, the company visited a number of intermodal transport systems in foreign countries including Melbourne, Australia. “We were inspired by the advancements they have made in terms of facility and operation. We are hopeful that we can apply the same forward-thinking processes in our country,” he said.

The proposed terminal in Paranaque City would connect passengers coming from Cavite to other urban transport systems such as the future Light Rail Transit Line 1 (LRT) South Extension to Bacoor in Cavite, city bus, taxi, and other public utility vehicles plying Metro Manila.

*courtesy of By Lawrence Agcaoili (The Philippine Star) | Updated April 25, 2015

Ayala in Manila Bay Area

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MANILA, Philippines – Ayala Land Inc., the property development arm of the Ayala Group, has joined the action at the Pagcor Entertainment City in Parañaque with its plan to build a huge mall complex, a BPO center and a hotel within a nine-hectare property, according to documents filed with the Parañaque City government.

Ayala Land commercial business group head Jose Emmanuel Jalandoni said the project would have a mall, hotel, and office components. He said construction is set to start this year and completion is eyed by the second half of 2018. According to Jalandoni, about P12 billion is the project cost of the planned mixed-use development.

Parañaque Mayor Edwin Olivarez, in a statement, said the decision of Ayala Land to invest in the southern city is a huge vote of confidence for the city, which in 2014 was adjudged the country’s most competitive city in terms of economic dynamism and is now dubbed the Mega City by the Bay.

“This is another affirmation of Parañaque’s emergence as a new economic and business hub,” he said. “We welcome with open arms Ayala Land’s investment which we estimate should create at least 10,000 new jobs for our people and help sustain the country’s robust economic growth,” he said

Olivarez said Ayala Land filed an application for a locational clearance with the city’s Local Zoning Board of Adjustments and Appeals for its Entertainment City project, which is entirely within the jurisdiction of Barangay Tambo in Parañaque.

The application was approved by the board last week, he added.

The mayor said Ayala Land’s decision is in response to the city’s “Invest in Parañaque” program, which is aimed at attracting more long-term investments that create stable jobs.

He said more businesses have expressed similar interest in locating in Parañaque in the coming months.

Melanie S. Malaya, head of the city’s Business Permits and Licensing Office and a member of the board, said Ayala Land’s specific application is for the construction of a mall along Macapagal Ave. which would be bigger than the nearby SM Mall of Asia complex. The MOA is listed as having 407,000 sqm in gross floor area.

The BPLO chief said the mall would become Parañaque’s biggest mall and is seen to compete head on with the Mall of Asia.

She said the Ayala Group has secured a 45-year lease for the 9.2-hectare property from the Wenceslao group, owner of the Aseana Business Park complex, for the project. The property is located right across the new City of Dreams Manila, a casino and hotel complex also owned by the SM Group in partnership with the Melco Crown group of Macau.

Ayala Land would also develop a BPO center and a 12-storey hotel with at least 325 rooms within the leased property, Malaya added.

The entry of the Ayala group at the Entertainment City effectively brings together all the country’s biggest property developers in the area, which already has two casino complexes in operation: The City of Dreams of the SMgroup and the Solaire Resorts and Casino of port mogul Enrique Razon.

Two other casinos are also set to build at the entertainment city: the Bay shore City Resorts Worlds of Travellers International group, a joint venture between Filipino tycoon Andrew Tan’s Alliance Global Group Inc. and the Genting group of Malaysian, and Japanese billionaire Kazuo Okada’s Manila Bay Resorts project.

*courtesy of Philstar By Perseus Echeminada and Richmond Mercurio April 21, 2015

“By the end of 2018, Ayala Malls’ total leasable area will be two million sq m,” she said. “Expansion in 2018 will be in Bacolod, Cebu, Makati and in the Bay Area in Parañaque.”

*Philippine Inquirer Updated by Dorris Dumlao-Abadilla January 2017.

 

PLDT HOME equips NAIA Garden Residences (Bayport West) with fiber technology

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naia officersOne of the country’s top residential communication and multimedia services provider PLDT HOME recently signed a strategic partnership with Mega Pacific Holdings, developer of the NAIA Garden Residences – Bayport West  in Pasay City. The partnership allows PLDT HOME to install its fiber optic technology in the development, giving residents the strongest connections with speeds of up to 100 Mbps.

 

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PAGCOR Gaming Hub Final

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Good news to NAIA Residences investors! Our investment has a very good potential to appreciate in the market.

It was reported last December 12, 2012  that the Okada’s Universal Entertainment and Robinsons Land Corp. separately announced the signing of a basic agreement that would allow the latter to acquire a minority stake in its wholly owned Tiger Resorts, Leisure and Entertainment Inc. At the same time, RLC will acquire a majority stake in Eagle I Land Holdings Inc., the landowner of the project site.

RLC will be responsible for developing the commercial facilities, a budget hotel and residential facilities in the project. The final agreement shall be concluded by Jan. 31, 2013, according to the statement.

With other big projects pursued by Bloomberry and the Melco group in partnership with Belle Corp., Garcia said the Philippines would soon “be a fierce player” in the regional tourism gaming space.

The next gaming hub in Asia is soon to roll. Over the last few years, Singapore and Macau have emerged as formidable gaming hubs in the region.

The announcement did not say how much stake RLC will get in the gaming operations.

Universal Entertainment said the casino resort being developed by the Group would be called “Manila Bay Resorts.” Apart from a world-class casino, it said the major casino resort complex would feature luxurious hotels, upscale restaurants, commercial facilities, a budget hotel, residences, Vegas-style water fountains and an enormous indoor pool with real sand beach covered by a huge glass dome.

 

NAIA Garden Residences repatriation program for foreign and Filipino retirees

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FOREIGNERS CAN INVEST IN NAIA GARDEN RESIDENCES
following the guidelines set herein as part of the repatriation program for foreign and Filipino retirees

The NAIA GARDEN RESIDENCES is a joint venture project between the PYRAMID CONSTRUCTION AND ENGINEERING CORPORATION (PCEC) of the Philippines as Developer.

The PHILIPPINE RETIREMENT AUTHORITY (PRA) pra.gov.ph, an agency under the supervision of the Department of Tourism has accredited PYRAMID CONSTRUCTION AND ENGINEERING CORPORATION (PCEC) of the Philippines as Developer to realize this repatriation program of the government. The PRA is the government- owned and operated with the function of promoting the Philippines as a viable retirement haven with a network of real estate, healthcare and lifestyle and economic enterprise to especially designed to serve the foreign retiree community and boost the repatriation program for foreign and Filipino retirees

The visions behind this Project is to build an affordable residential community for foreign retirees and repatriating /retiring Filipino overseas workers looking for an investment property with rich potentials to appreciate in value while it serves their personal use.

The accreditation by the PRA of the NAIA Garden Residences is an added feature of the project and makes a distinction among other investment of the same nature.

With this accreditation, the Project aims to attract retirees from Korea, Japan, China, Taiwan, the United States, Canada and parts of Europe, as well as former Filipino citizens or balikbayans with dual citizenship or OFWs (overseas Filipino workers) that have become citizens of another country.

The main attraction of the retirement program of the PRA is the Special Resident Retiree’s Visa (SRRV), a special non-immigrant resident visa that provides its holder with multiple-entry and indefinite stay status in the Philippines by putting up an investment of US$20,000 to $50,000 in their name, with interest accrued in their favor. After the holding limit of one month, they can stay in this country already and can convert that deposit into an active investment.

In this program, a resident retiree can, without additional deposit, bring a spouse and an unmarried child below 21 years old or if the spouse is not joining, two (2) children (provided that they are unmarried and under 21 years of age). Additional children with the same qualifications may also be allowed to join the principal retiree provided there is an additional deposit.

repatriation program for foreign and Filipino retirees

The SRRV also grants tax-free incentives and privileges, as well as value-added services and benefits that foreign retirees can avail of from establishments such as hotels, resorts, retirement facilities, and restaurants. Children of registered retirees are exempt from student visas.

“Another advantage the Philippines has over other countries in the retirement business is the worldwide reputation for its highly efficient and professional doctors, nurses and caregivers.”
As a general rule, anyone regardless of nationality may invest in the Philippines. However, foreign nationals enrolled in the Retirement Program are, under the Authority’s existing Implementing Investment Guidelines, permitted after holding period of 30 days from the issuance of the SRR Visa, to convert their time deposit/s into active investment/s in any or a combination of the following Alternative Investment areas:

A retiree who has converted his dollar deposit into an active investment may opt to substitute the same with another form of investment that is allowed under the PRA program. In case of substitution, the value of the substituted one must at least be equal to or higher than the amount of the retiree’s requisite deposit after conversion.This repatriation program for foreign and Filipino retirees gives NAIA Garden Residences an edge as the most viable real estate investment.

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Suburbanization in the City of Pasay and Paranaque

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NAIA Garden Residences, a parcel of suburbanization in the city of Pasay and Paranaque.

Suburbanization in the extended metropolitan area of Manila has produced new middle-class consumer landscapes of exclusive suburbs — alongside tower blocks, offices, residential estates, shopping malls, and golf courses — linked by freeways and flyovers. In the heart of Pasay and Paranaque is where the center of development in Metro Manila. sprouted condominium projects from major developers like SMDC, DMCI, Ayala land, Anchor Land, etc are there with completion as early as 2013. The Philippines economic growth, the emergence of a new and mobile middle class, and the lack of public planning have been emphasized in the recent regulations due to the past anomalous transactions of some real estate developers. Each developers showcase a unique resort type suburban projects to attract even middle income earner. These enclosed homogeneous suburbs designed and marketed as fragments of European a global era, enhance security, exclusivity, and isolation. Under the government regulation, suburban village associations regulate community life through private legal regimes and strengthen class divisions. Malls and freeways are further features.

Explore the production of the nightlife industry within a new urban entertainment economy in Manila Bay. Get your place at NAIA Garden Residences. Your home, your business.

 

Fast Selling Condo Investment in NAIA near MOA and Entertainment City

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Condo near NAIA: A Truly Las Vegas-Like Entertainment City, a neighbor of Mall of Asia.

Nationally significant historic places were highlighted in each country: overwhelming sceneries, impressive views, and the stunning array of landscapes mark on different places around the world. As the days go by, as tourist destinations in the Philippines became timeless to discover. The influx of tourists arrived, enjoyed and craved for the treasures where else you can’t find. The Philippines have its depth blue waters, amazing caves and mountains, captivating and attractive sights of terrains, and endearing vision of the seas.

A historic turning point places at the top of the sea- the Manila Bay. The biggest project of Philippine Amusement & Gaming Corporation (PAGCOR), spearheaded by Chairman Cristino Naguiat Jr. is to establish an Asia’s Las Vegas-like gaming and entertainment complex, the Entertainment City officially named as the “Bagong Nayong Pilipino”. It is 110 hectares are lying at the major cities- Manila, Pasay and Paranaque. The Entertainment City is divided into 7 zones namely: Cultural, Financial, Commercial, ASEANA City, PAGCOR Entertainment City, Centennial City and Asia World. The project is said to initiate an increase in investments from private companies, to be the Asia’s newest tourism and investment capital.

airport

View from NAIA Terminal 3

The Entertainment City is very accessible nearby Metro Manila and to a condo in MOA and condo in NAIA. It passes along Roxas Boulevard, EDSA, Cavite Coastal Road and Macapagal Boulevard. The availability of Bus Terminals is within the city. Metro Rail is 15 minutes away and goes all along 20 minutes in various points in Manila while 10 minutes away from the Ninoy Aquino International Airport. Future infrastructures projects are LRT Extension Phase 2 all go away to Bacoor, Cavite and NAIA Skyway Phase 2 connecting the Entertainment City to all international airports.

Get captivated to the luxurious hotels and resorts around the Entertainment City. Solaire Casino and Resorts is the first casino complex operated in Entertainment City opened on March 16, 2013. Solaire is a $1.2 billion project managed by executives from five-star hotels in Singapore, Macau and Las Vegas. The resort expensive casino area is designed to provide a true Las Vegas gaming experience. Next is the City of Dreams, it is a promising 6.2 hectares world-class resort and casino complex. It is a $1.3 billion venture and had a soft opening on December 14, 2014, and its grand opening on January 2, 2015. And Manila Bay Resorts under the Universal Entertainment Corporation with a $2 billion estimated forecast and comprising its 45 hectares land. Manila Bayshore is the biggest integrated resort casino property in the country committed by Casino Mogul Kazuo Okada. Other prestigious hotels undertaking on the next years are the Resorts World Bayshore, a joint proposal of Philippine Based Alliance Global Group and Genting Hongkong; and the Westside City located next to Bayshore.

The Entertainment City had also its biggest gathering center, shopping malls, business process outsourcing buildings and had its outdoor restaurants wherein San Miguel by the Bay caters a lot of dining options. Mall of Asia is said to be the biggest shopping mall in Asia, the largest business conference and intensifying events assembled at Mall of Asia Arena and SMX Convention Center. Entertainment City meant to be constructed a huge landmark, the PAGCOR Tower measures 2,182 tall. Aside from hotels, casinos, restaurants, commercial and BPO buildings, Entertainment City booms opportunities to generate real estate properties too.

As the Asia’s Newest Investment and Tourism Capital, PAGCOR’s Entertainment City will generate 6000 hotel rooms; and 3.3 million sq ft. casino gaming areas. PAGCOR oversees and expects a million of the job when completed.Truly, condo near Naia or condo near MOA is the best property investment now in the Philippines.

 

Properties surrounding the airports in Manila – its investment potential

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THE AIRPORTS
The Ninoy Aquino International Airport (NAIA) serves as the main airport of the Philippines situated within the city of Pasay and Paranaque. NAIA is the main gateway of Philippines for tourists who want to explore the beauty and fun in the Philippines. It is the center of the international airlines aside from international airports in major metropolitan cities in the Philippines. The name of the airport was coined after the father of the present president of the Philippines, late Senator Benigno “Ninoy” Aquino, who was then fought the democracy of the Philippines from the regime of the Marcos Administration.

A record breaking annual passenger was recorded last year, 2011 making it to more than 29 million passengers – making one of the busiest airports in Asia.

This only indicates that Philippine tourism is active. Investors for real estate, tourism, gaming flux in the Philippines because of the business potential and very promising development within Metro Manila especially surrounding the airports.

NAIA Garden Residences within Manila airports

MANILA BAY DEVELOPMENTS
Last March 2012, Senators want to make sure the compliance of the development along Manila Bay since the constructions started in 2007. The “Las Vegas-style” complex, to be built near Manila Bay, is supposed to feature six-star hotels, gaming facilities, malls, museums, cultural centers, sports arenas, residential villages and theme parks.

It is supposed to boost tourist arrivals and generate new jobs in the country and capture at least 10 percent in the global gaming market, which is estimated at $115 billion annually.

Pimentel said four companies have been granted licenses to build, own, and operate integrated resorts within the comlpex, including Travellers International Hotel Group, SM consortium, Tiger Resorts Leisure and Entertainment Inc., and Bloomberry Resorts and Hotels Incorporated.

Please see the video here for the updates of the construction and the development.

 

 

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