MindanaoDAILY THE PURVEYOR OF TRUTH , JUSTICE, AND DEVELOPMENT CHENG ORDOÑEZ, Section Editor
Wednesday
Real Estate B1
August 24, 2016
Duterte to housing stakeholders: Unite for descent Filipino homes By Cheng Ordoñez Executive Editor, BWM
VIZMIN GROWTH CORRIDOR. SM Investments Corporation (SM), one of the largest conglomerates in the Philippines, is committed to expand outside of Metro Manila where huge potential for growth is apparent, among them is Cagayan de Oro City, where a second SM Mall with 80,000-sq.-meter floor area is being built, Corazon P. Guidote, SM senior vice president for investor relations and and Tim Daniels, investor relations executive said during an investment meeting with media, Tuesday, at the Pryce Plaza Hotel, Cagayan de Oro City. The six-storey new SM Cagayan de Oro 2 Premier situated at the C.M. Recto is slated to be completed next year, and is part of SM’s investment earmarked between P70 to P80 billion every year of its aggressive expansion bid in the country, fueled by the local economy’s strong momentum. text by cheng ordoñez, photo by gerry lee gorit
SM targets VisMin as new growth corridor By Mark D. Francisco Staff writer
CAGAYAN DE ORO CITY – SM Investments Corporation, the holding company of the SM malls chain, is committed to expand outside of Metro Manila where
huge potential for growth is apparent. During an inspection of the ongoing construction of SM Recto Premier here last Tuesday, SM senior vice president for investor relations Corazon P. Guidote
expected to further drive results moving forward. In a quarterly report to the Philippine Stock Exchange, the holding firm of the Gotianun family chalked a net income of P2.19 bil-
See housing, page B11
See targets, page B4
lion for the three months to June. This compares with the P1.6 billion recorded a year earlier. Net income attributable to the parent stood at P1.52 See filinvest, page B4
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“We are hopeful to simultaneously launch the four buildings of the second cluster this Kadayawan Season. Last year, the two towers of the first cluster of One Lakeshore Drive were simultaneously opened in time for the Kadayawan,”
Engineer Leonora P. Gutierrez, Suntrust assistant vice-president, said in an interview. One Lakeshore Drive, which also consists of four buildings, is the residential component of Megaworld’s
Suntrust Properties to launch 2nd Davao condominium cluster
SUNTRUST Properties, Inc., a wholly owned subsidiary of Megaworld Corp., is set to launch the second cluster of four condominium buildings in its township revealed that SM Prime project here, with pre-selling Hodlings, SM’s property targeted to start by the third arm, will be spending the quarter of the year. lion’s share of the conglomerate’s capital in an aggressive program in the South. SM Recto Premier will
Filinvest sees 37% rise in earnings FILINVEST Development Corp. (FDC) booked 37% more earnings for the second quarter largely from the banking and real estate businesses, with its venture into the power sector
C AG AYA N D E O R O CITY -- President Rodrigo Duterte has called on all economic housing development stakeholders to unite in formulating development action plans aimed at providing affordable and descent homes to Filipinos. Duterte issued the statement in relation to the hold- Duterte ing of the 7th National Developers’ Convention of the Organization of Socialized and Economic Housing Developers of the Philippines (OSHDP), today, August 24, 2016, at the N Hotel, Kauswagan Highway, here. “More than just a roof to keep our people safe from external threat, a shelter is where values are formed, hopes and dreams are built, and the true meaning of
See suntrust, page B4
Cebu Landmasters’s pioneering project in Mindanao enjoys fast take-up
MesaVerte Residences, the pioneering project of Cebu Landmasters, Inc. (CLI) in Cagayan de Oro, is enjoying fast sales take-up, less than a year from its launch last November 2015 and a few weeks from the opening of its showroom early last June.
“Exceeding all expectations, sales for MesaVerte Residences has already reached 85% a little less than a year from launch. The fast take-up is making some of our sales people dizzy with success,” said CLI Chief Executive Officer and
President Jose Soberano III. CLI’s first venture into Mindanao, MesaVerte Residences is riding on the current spike in the demand for residential condos in the land of promise and will be opening its Building 3 to See project, page B11
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