Category: Real Estate

Megaworld fast tracks constructions in Iloilo Business Park

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Megaworld, the country’s leading real estate developer, is fast tracking the construction of office, commercial, and residential towers in the 72-hectare Iloilo Business Park due to the strong demand, brisk sales and rental inquiries for residential, commercial, and office spaces.

This year, three office towers, namely One Global Center, Two Global Center and Richmonde Tower are scheduled to be completed. The three towers, with a total of 25,000 square meters of leasable spaces, will be able to accommodate around 10,000 full time employees (FTE) for the Business Process Outsourcing (BPO) companies.

Megaworld will also start the construction of another two office towers by August this year: One Techno Place and Two Techno Place, which will generate an additional 8,000 FTEs in the township. Both towers, with a total of 19,000 square meters of leasable spaces, are scheduled to be completed in early 2016.

“With the heavy influx of inquiries from BPO companies who want to be part of Iloilo Business Park, we see the urgent need to hasten the construction of more office towers to meet the strong demand,” says Jericho P. Go, senior vice president, Megaworld.

StarTek, Inc., a US-based BPO company, has already started its operation in the Richmonde office tower this month of June and is poised to launch its standalone BPO office building at Two Global Center by 4th quarter of this year.

As the first BPO company opens in Iloilo Business Park, McDonald’s also opens its standalone store in the township. The branch will be the biggest McDonald’s store in Iloilo City, with a total seating capacity of 250. It will have two floors with play place, party area drive thru, and parking area.

“We are very excited to be the first fastfood chain to open in Iloilo Business Park, and we are very happy to serve the Ilonggos who are working and visiting, including those who will be living in this world-class township,” says Eugene Reducindo, managing director, Choice Gourmet Banquet, Inc., the franchisee of McDonald’s in Iloilo Business Park.

Aside from office and residential towers, Megaworld has also started the construction of the Megaworld Central Mall and Festive Walk, a 1.1-kilometer commercial and retail strip parallel to Iloilo’s Diversion Road. The mall and the first phase of Festive Walk are expected to be completed by second half of 2015.

Richmonde Hotel Iloilo, a 151-room business hotel, will also open early next year, just in time for the city’s hosting of the Asia Pacific Economic Cooperation (APEC) side meetings. The other hotel, Courtyard by Marriott, has started its construction and is expected to be completed by end-2015.

The 3,700-seating capacity Iloilo Convention Center has also started its construction and once completed, it will be the biggest and most modern convention facility in Region 6.

Dubbed as the biggest business and tourism hub in Western Visayas, the Iloilo Business Park is expected to bring Megaworld’s pioneering ‘LIVE-WORK-PLAY-LEARN’ township to Western Visayas, following the success of other townships such as the 18.5-hectare Eastwood City, known to be the Philippines’ first IT park; the 50-hectare McKinley Hill, 34.5-hectare McKinley West in Fort Bonifacio; the 15.4-hectare Uptown Bonifacio and the 5-hectare Forbes Town Center in Bonifacio Global City; the 25-hectare Newport City in Pasay City, home of the famous Resorts World Manila; the 12.3-hectare Woodside City in Pasig City; the 11-hectare Davao Park District in Lanang, Davao City; and the 28.8-hectare The Mactan Newtown in Lapu-Lapu City, Cebu.

Shangri-La Hosts Second Wine Summit For Gifted Group of Sommeliers

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Following the success of Shangri-La’s first Wine Summit in 2013, initiated as a series of professional programmes to nurture the group’s gifted sommeliers, the Asian-based hotel group will organise its second Wine Summit led by newly appointed wine ambassador Gerard Basset OBE and Shangri-La’s corporate wine director Yang Lu from 8 to 10 July 2014 at Shangri-La Hotel, Beijing.

The entire summit is committed to advancing internal wine talents and providing them customised training over a series of events, including tutorials, the Best Sommelier Competition and a prestigious wine dinner. By raising the sommeliers’ expertise, they will in turn redefine service levels to enrich guest experience encompassing wine selection and value for money.

One of the conference highlights is the sommelier competition based on the Silver Service Standard developed by the Court of Master Sommeliers. The high standards will see 12 sommeliers – representing Shangri-La properties in Beijing, Hong Kong, London, Maldives, Paris, Shanghai, Sydney, Toronto and Tokyo – challenged by theory and oral tests, beverage and wine service, food and wine pairing, and blind tasting to attain the coveted title of Best Sommelier (won last year by Mark Moffatt of Shangri-La Hotel, Toronto).

Appraising the competitors will be a panel of judges including Gerard Basset, the only person ever to simultaneously hold the Master of Wine, Master Sommelier and Wine MBA honours; Yohann Jousselin, hotel sommelier at Island Shangri-La, Hong Kong, winner of Best Sommelier U.K. 2011 and the only Master Sommelier in Asia; as well as various leading wine personalities and media in China.

While the group’s Best Sommelier will be announced at a media reception on 10 July, Gerard Basset and Yang Lu will share enhanced developments and initiatives since Shangri-La’s Wine Programme was launched in 2013. From its initiation and objective to focus on enhancing wine offerings in hotels in China and Hong Kong, the programme has since heightened wine consistency, diversity and quality across the properties.

To conclude the Wine Summit, a dinner at S.T.A.Y – the acclaimed restaurant by French Chef Yannick Alléno – will be held at Shangri-La Hotel, Beijing.

Co-hosted by Gerard Basset and Yang Lu and supported by the top sommeliers, the event is open to the public and intends to immerse wine aficionados and world-renowned producers, namely Pierre Montegut from AXA to present Château Suduiraut, Château Pichon-Longueville and Château Petit-Village, in a special evening of fine food and prized pours. For enquiries or reservations, please contact Shangri-La Hotel, Beijing via email: slb@shangri-la.com or telephone (86 10) 6841 2211.

Hong Kong-based Shangri-La Hotels and Resorts, one of the world’s premier hotel companies, currently owns and/or manages more than 80 hotels under the Shangri-La brand with a room inventory of over 34,000. Over four decades the group has established its brand hallmark of ‘hospitality from the heart’. The group has a substantial development pipeline with upcoming projects in mainland China, India, Mongolia, Myanmar, Philippines, Qatar, Sri Lanka and the United Arab Emirates. For more information and reservations, please contact a travel professional or access the website at www.shangri-la.com.

Solaire Resort and Casino Unveils Its New Plane Livery

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Solaire Resort and Casino, the Philippines’ premier integrated resort, in partnership with Air Asia unveils a breakthrough branding project in the Philippines.

Solaire again raises the bar as it wraps its brightly colored livery on Air Asia’s popular Airbus A320, which is scheduled to embark on its maiden flight this July. Solaire is the first-ever consumer brand in the country to fully wrap and brand a commercial airline, with an underlying thrust of further promoting tourism in the Philippines and in greater Asia.

This dynamic collaboration between Solaire and Air Asia represents another step forward in an on-going journey towards providing modern travel and leisure experiences for its customers, with a fresh new approach to their target market. This partnership will facilitate more passenger and cargo traffic in both regional and domestic flights, and foster stronger trade, cultural and tourism ties within Asia.

“This milestone is a key undertaking between two passionate brands with entrepreneurial and dynamic mindsets. This unprecedented branding project in the Philippines may be taken as a “leadership statement,” which attests to Solaire’s strong growth momentum in the industry. Yes we are again raising the bar; this time we’re taking it to the skies.” says Donato Almeda, Board Director of Solaire Resort and Casino.

Currently, Solaire’s brand colors are donned by just one airplane, but nothing is stopping them from further rolling out this innovative wrap on additional aircrafts in the future wih broader partnership arrangements. The campaign will continue until 2016 and it is envisioned that this high-impact ad in the sky will generate more hype and publicity as the partnership progresses.

Jasper Evangelista, Vice President of Brand & Marketing, Solaire Resort and Casino said, “This aircraft-branding campaign is a strategic branding initiative which would allow us to literally take our brand to greater heights. We have created amazing moments for our customers since Solaire launched last year, and now we’re aiming to further connect with our local & foreign guests and travellers by reinforcing our brand presence in the country’s airports. Sky Solaire will enable us to get immediate traction on this effort and even take it to a level all its own.”

In-line with Solaire’s “Create Your Moments” campaign, which highlights Solaire as the perfect place to create unforgettable memories, this fitting partnership with AirAsia, one of Asia’s leading and multi-awarded airlines in their category, harmoniously evokes the key thrusts of customer service, hospitality, and excitement for both their industries. This marketing initiative is also primed to open up new revenue streams for both the integrated resort and the airline carrier.

AirAsia Philippines Chairman Maan Hontiveros said, “AirAsia Philippines is a sociable and innovative brand. We also take pride on our collaborative nature. This new livery demonstrates our creative approach to partnerships and marketing opportunities especially with companies that support our vision to grow tourism. We are thrilled to carry Solaire’s brand in the sky and on the grounds at the airports here and abroad extending to as far as our destinations in Malaysia, China and Korea.”

The Solaire experience is stamped with an unparalleled brand of service style, world-renowned Philippine hospitality, top-of-class luxurious accommodations, diverse dining options and impressive gaming facilities, which have all contributed to the way people people view resort casinos in Manila. Many have opted to extend their stay at the resort, to have simply grown to embrace the aspirational and stress-free lifestyle offered to them at Solaire. Solaire Resort and Casino clearly offers the utmost experience of comfort, elegance and luxury in the Philippines right now.

Megaworld celebrates 20th listing anniversary at the Philippine Stock Exchange

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Joining Megaworld chairman and CEO Dr. Andrew L. Tan and Finance secretary Cesar Purisima (fifth) were (L to R) Megaworld chief operating officer Lourdes Gutierrez-Alfonso, Megaworld director Katherine L. Tan, Megaworld first vice president for commercial division Kevin L. Tan, PSE chairman Jose Pardo, SEC chairman Teresita Herbosa, and PSE president and CEO Hans B. Sicat.

Megaworld Chairman and CEO Dr. Andrew L. Tan announced during the ceremony that the company’s market capitalization grew by more than 55 times, from P2.7-billion in June 1994 to P150-billion today. Leading property developer Megaworld led the traditional ringing of the bell during the opening of Monday’s trading to celebrate its 20th listing anniversary at the Philippine Stock Exchange (PSE) in Makati City.

Global Estate Resorts consolidated into Megaworld

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Real estate tycoon Andrew Tan has completed the consolidation of property businesses under flagship Megaworld Corp. with the latter’s takeover of a controlling stake in the group’s leisure estate arm Global-Estate Resorts Inc. (GERI).

In a disclosure to the Philippine Stock Exchange on Friday, the group announced that Megaworld would purchase the 49.2 percent stake in GERI held by parent conglomerate Alliance Global Group Inc. for P10.43 billion or P1.93 per share.

After the acquisition, Megaworld will own 74.96 percent of GERI. Megaworld will also initiate a mandatory tender offer for the remaining GERI shares held by minority stockholders. The group said this acquisition would complete the consolidation under Megaworld of all real estate businesses of AGI, enabling Megaworld to “capitalize on real estate opportunities and capture the expected growth momentum of its real estate affiliates.”

Megaworld offered to purchase the GERI shares at P1.93 per share based on the 30- day volume weighted average price of GERI shares as of April 30, 2014. The price is supported by a fairness opinion and valuation report issued by Navarro Amper & Co. (Deloitte), the company said. GERI is a leading tourism estate developer in the country. Its projects include the 150-hectare Boracay Newcoast on Boracay Island; the 1,149-hectare Twin Lakes in Tagaytay; the 34-hectare Sta. Barbara Heights in Iloilo City and the 561-hectare Southwoods City on the boundary of Carmona, Cavite, and Binan, Laguna, which is being developed into a fully integrated master-planned township development. Megaworld, on the other hand, is a leading residential condominium developer and pioneer of townships in the country which include Eastwood City in Quezon City, which is the country’s first cyberpark; Newport City in Pasay City; McKinley Hill, Uptown Bonifacio and Forbes Town Center in Bonifacio Global City; The Mactan Newtown in Lapu-Lapu City, Cebu; and the Iloilo Business Park in Iloilo City. It is also a leading office landlord and developer in the Philippines today with around 712,000 square meters of office space. Aside from owning a controlling stake in GERI, Megaworld already owns 82 percent of Empire East Land Holdings and 100 percent of Suntrust Properties Inc.