PROPERTY PRICE hikes fueled by the Philippine offshore gaming operators (POGO) sector may pose increasing risks to the banking industry, according to Fitch Ratings. “Recent data point to speculative activity that could affect market stability if unchecked,” Fitch said in a note sent to reporters on Wednesday. “To the extent that the increase in prices has been driven by a b...
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Cebu CityโDMCI Homes, the real estate arm of DMCI Holdings Inc., expanded its landbank with the acquisition of a 9,695-square-meter property in Barangay Lahug in this city. The Lahug property is the second land acquisition made by DMCI Homes in Cebu after acquiring a lot in Barangay Guadalupe where another residential community will rise. “Cebu is one of the fastest-growing economies i...
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CEBU-BASED developer AppleOne Properties Inc. (API) has signed a management contract with Marriott International (MI) to develop the first Fairfield Inn & Suites in the region. Fairfield Cebu Mactan will be located within Mahi by AppleOne Properties Inc., a forthcoming IT center set to rise along ML Quezon National Highway in Barangay Ibo, Lapu-Lapu City. The property will have 198 ro...
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CEBU-BASED King Properties has topped off and completed the structural works for Meridian by Avenir, its latest high-rise development in the city. Meridian by Avenir boasts of unique amenities and services tailored for business and residential owners—naturally integrating all aspects of life and work within a single, harmonious space. The high-rise development envisions to elevate the hom...
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CEBU Landmasters Inc. will acquire the Abaca Resort Mactan property. The developer announced it will expand the 4,328-square meter luxury resort, located in the Punta Engano area of Mactan Island, to 100 rooms from the current nine, set to be completed by 2023. The listed firm also signed a hotel management agreement with The Abaca Group, owner of the resort and a chain of top-end Cebu resta...
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Leading mass housing developer 8990 Holdings has debuted into high-end property development with a deal to acquire Genvi Development Corp., one of Cebu’s top developers of upscale property. Genvi’s flagship project is Monterrazas de Cebu, the biggest and last remaining contiguous mountain property development in the heart of Cebu City. It is a master-planned residential, commercial...
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