Day: April 16, 2014

PAL poised for US expansion, anticipates growth opportunities with lifting of ban

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Philippine Airlines (PAL) is ready to implement an expansion plan in the United States, following the re-classification of the country’s aviation safety rating to Category 1, which it said would boost tourism and trade and open up new and exciting opportunities for the flag carrier.

With the upgrade, the Philippines now re-joins the ranks the most important aviation nations in the world, made up of select countries that meet the US’ strict standards of aviation safety.

Following the re-classification, the flag carrier said it is set to immediately deploy a fleet of newly – acquired Boeing 777-300ER aircraft for its long-haul flights to the US. With this, passengers can now enjoy non-stop flights to Los Angeles and San Francisco aboard new aircraft equipped with the most modern cabin and state-of the-art amenities, including lie-flat beds in business class.

PAL President & Chief Operating Officer Ramon S. Ang said: “Your flag carrier welcomes the return of the country’s aviation rating to Category 1. This is a culmination of the government’s hard work, as exemplified by the efforts of the Civil Aviation Authority of the Philippines, to upgrade the country’s international aviation safety standards.”

“This latest development allows us to deploy our modern and fuel-efficient Boeing 777-300ER fleet to the US, and enables us to explore new destination opportunities in one of the Philippines’ largest passenger markets,” he added.

Currently, PAL operates a total of 26 weekly flights to the US, with frequencies to Los Angeles, San Francisco, Honolulu and Guam.

The flag carrier said it would deploy six Boeing 777-300ERs, amounting to US$1.2 billion, for US flights within a month’s time. For its flights to Honolulu and Guam, PAL will continue to utilize new wide body Airbus A330-300s and single-aisle A320-200s.

Apart from ushering a new era in the flag carrier’s trans-pacific service, Mr. Ang added that the upgrade will also allow PAL to explore possible airline partnerships with foreign carriers in order to maximize its growth potential.

DMCI Homes’ Arista Place inaugurates its clubhouse and model units

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DMCI Homes Arista Place showed its unique blend of relaxing and active condo lifestyle during the recent inauguration and blessing of its clubhouse and model units.

The event dubbed Zen Escape matched the overall resort atmosphere on the 11-building residential development along J.P. Rizal Street in Barangay Sto. Niño, Parañaque City with free massage given to guests while an acoustic band filled the tropical air with soothing music. A free accommodation for two at the Alta Vista de Boracay resort-hotel for three days and two nights was also offered to the buyers to give them a summer escape comparable to the vacation lifestyle they would expect when they move in at Arista Place.

“Arista Place is not only a home but a lifestyle. We want our customers to feel the resort living here,” said Sarah Jane Corpuz, Senior Project Development specialist of DMCI Homes.

DMCI Homes officials led the company’s marketing staff in hosting Zen Escape at the newly-built 2-storey clubhouse. Senior Vice President for Finance and Operations, Ramil Lombos; Vice President for Project Development, Alma Florendo; Vice President for Property Management Corporation, Anna Marie Ferrer and Senior Marketing Manager Jan Venturanza cut the ribbon to the clubhouse and model units. The blessing of the facilities followed before the officials did the ceremonial coin tossing and joined guests for lunch at the function room on the second floor of the clubhouse.

The unveiled two model units are on the ground floor of the Grande building. The Grande, together with the Apex building, were also officially opened for customer viewing being the community’s first two completed 6-storey residential buildings that are ready for occupancy in March.

Arista Place sits on a 4.8-hectare property allowing DMCI Homes to provide a bigger space for outdoor amenities. With a floor area of 1,800 square meters, the clubhouse is bigger than any similar facility in other DMCI Homes communities, according to Corpuz. It houses the game area, audio-visual room, function room, fitness gym, lounge, indoor badminton court, water station, convenience store and the Project Management Office.

More than a hectare of outdoor amenity area is consists of two swimming pools, a basketball court, an open field, lounges, garden trails, palm promenade and an Integrated Multi-level Play System.

“Arista Place has one of the largest if not the largest amenity core in a DMCI Homes project,” said Venturanza. “Because of this, it is the first DMCI Homes community to have the Integrated Multi-level Play System.”

The Integrated Multi-level Play System is the latest in park innovation. They are play and exercise stations for kids and adults alike similar to those found in Hong Kong and Singapore parks, according to Venturanza. The Arista Place version consists of a swaying bridge, cross trainer, free runner, horizontal ladder and a multi-climb structure, where kids can play on rope nets and ladders. The play stations offer children, adults and even seniors, different fun ways to challenge their body and test their strength.

Aside from a relaxing and active lifestyle, Arista Place also offers comfort and convenience to future residents. Its 2-bedroom units with floor areas ranging from 42 to 59.5 square meters have efficient space plus first-rate finishes and quality craftsmanship. All 1,297 units available have balconies, a utility meter and cable connections.

Arista Place has an Asian-Tropical architecture and its buildings have earth-toned colors to provide that soothing and relaxing feeling. Long overhung roofs provide aesthetic appeal while serving as shade during hot days. It is designed to reduce the constrictive feel of traditional condos as single-loaded hallways let unit doors open to a corridors instead of to neighboring units. Garden atriums create a refreshing ambience inside the buildings. Each building is served by a high-speed elevator with CCTVs in common areas, stand-by power generator, automatic fire sprinkler and fire suppression system, fire alarm system, and centralized mail room. Six buildings will be completed and turned over to residents this year. The remaining five buildings will be finished and turned over next year.

Arista Place’s location makes it a convenient address for families because it is near schools, shopping malls, hospitals and churches. It is also an ideal home for professionals being near commercial centers, including the emerging PAGCOR Entertainment City; the business districts of Makati, Taguig and Alabang; the domestic and international airports; and the Sucat Road, C-5 Road Extension, SLEX and Skyway.

DMCI Homes’ Arista Place inaugurates its clubhouse and model units

PRNEWS Leave a comment

DMCI Homes Arista Place showed its unique blend of relaxing and active condo lifestyle during the recent inauguration and blessing of its clubhouse and model units.

The event dubbed Zen Escape matched the overall resort atmosphere on the 11-building residential development along J.P. Rizal Street in Barangay Sto. Niño, Parañaque City with free massage given to guests while an acoustic band filled the tropical air with soothing music. A free accommodation for two at the Alta Vista de Boracay resort-hotel for three days and two nights was also offered to the buyers to give them a summer escape comparable to the vacation lifestyle they would expect when they move in at Arista Place.

“Arista Place is not only a home but a lifestyle. We want our customers to feel the resort living here,” said Sarah Jane Corpuz, Senior Project Development specialist of DMCI Homes.

DMCI Homes officials led the company’s marketing staff in hosting Zen Escape at the newly-built 2-storey clubhouse. Senior Vice President for Finance and Operations, Ramil Lombos; Vice President for Project Development, Alma Florendo; Vice President for Property Management Corporation, Anna Marie Ferrer and Senior Marketing Manager Jan Venturanza cut the ribbon to the clubhouse and model units. The blessing of the facilities followed before the officials did the ceremonial coin tossing and joined guests for lunch at the function room on the second floor of the clubhouse.

The unveiled two model units are on the ground floor of the Grande building. The Grande, together with the Apex building, were also officially opened for customer viewing being the community’s first two completed 6-storey residential buildings that are ready for occupancy in March.

Arista Place sits on a 4.8-hectare property allowing DMCI Homes to provide a bigger space for outdoor amenities. With a floor area of 1,800 square meters, the clubhouse is bigger than any similar facility in other DMCI Homes communities, according to Corpuz. It houses the game area, audio-visual room, function room, fitness gym, lounge, indoor badminton court, water station, convenience store and the Project Management Office.

More than a hectare of outdoor amenity area is consists of two swimming pools, a basketball court, an open field, lounges, garden trails, palm promenade and an Integrated Multi-level Play System.

“Arista Place has one of the largest if not the largest amenity core in a DMCI Homes project,” said Venturanza. “Because of this, it is the first DMCI Homes community to have the Integrated Multi-level Play System.”

The Integrated Multi-level Play System is the latest in park innovation. They are play and exercise stations for kids and adults alike similar to those found in Hong Kong and Singapore parks, according to Venturanza. The Arista Place version consists of a swaying bridge, cross trainer, free runner, horizontal ladder and a multi-climb structure, where kids can play on rope nets and ladders. The play stations offer children, adults and even seniors, different fun ways to challenge their body and test their strength.

Aside from a relaxing and active lifestyle, Arista Place also offers comfort and convenience to future residents. Its 2-bedroom units with floor areas ranging from 42 to 59.5 square meters have efficient space plus first-rate finishes and quality craftsmanship. All 1,297 units available have balconies, a utility meter and cable connections.

Arista Place has an Asian-Tropical architecture and its buildings have earth-toned colors to provide that soothing and relaxing feeling. Long overhung roofs provide aesthetic appeal while serving as shade during hot days. It is designed to reduce the constrictive feel of traditional condos as single-loaded hallways let unit doors open to a corridors instead of to neighboring units. Garden atriums create a refreshing ambience inside the buildings. Each building is served by a high-speed elevator with CCTVs in common areas, stand-by power generator, automatic fire sprinkler and fire suppression system, fire alarm system, and centralized mail room. Six buildings will be completed and turned over to residents this year. The remaining five buildings will be finished and turned over next year.

Arista Place’s location makes it a convenient address for families because it is near schools, shopping malls, hospitals and churches. It is also an ideal home for professionals being near commercial centers, including the emerging PAGCOR Entertainment City; the business districts of Makati, Taguig and Alabang; the domestic and international airports; and the Sucat Road, C-5 Road Extension, SLEX and Skyway.

European Commission lifts ban on Cebu Pacific

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The Philippines’ leading airline, Cebu Pacific has been removed from the list of airlines banned from operating in European Union (EU) member countries. The European Commission formally announced today.

“We welcome this development, a testament to Cebu Pacific’s commitment to safety and full compliance with international aviation safety standards. This would not have been possible without the full support of the Philippine government, and especially the Civil Aviation Authority of the Philippines,” said Lance Gokongwei, Cebu Pacific President and CEO.

“This enables Cebu Pacific to continue flying to where the Filipinos are. With nearly a million Filipinos working in the EU, we look forward to offering CEB’s trademark lowest fares, and the most extensive route network in the Philippines,” added Gokongwei.

“The decision of the European Commission to lift the ban on Cebu Pacific shows the ability of Philippine authorities and business to work with the EU to raise standards and create economic opportunity,” said Julian Vassallo, Chargé d’affaires at the Delegation of the European Union to the Philippines. “Having demonstrated their commitment and capacity to adhere to international standards, we heartily welcome Cebu Pacific to European skies”.

CEB currently operates a fleet of 50 aircraft comprised of 10 Airbus A319, 29 Airbus A320, 3 Airbus A330 and 8 ATR-72 500 aircraft. Between 2014 and 2021, Cebu Pacific will take delivery of 12 more Airbus A320, 30 Airbus A321neo, and 3 Airbus A330 aircraft.

SM Cites Property Merger Benefits

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SM Vice Chairperson Teresita Sy-Coson

SM Investments Corporation (SM) highlighted the opportunities in real estate in the Philippines following its recent merger of property assets under mall developer now property conglomerate SM Prime Holdings, Inc. (SM Prime).

In a recent forum by the Fund Managers Association of the Philippines held at the SMX Convention Center in Taguig, SM officials cited the benefits of the landmark merger which was announced in 2013 that transformed SM Prime as one of the Southeast Asia’s largest property companies. SM Prime today has shopping malls, residences, offices, hotel and convention centers and leisure facilities.

 SM Vice Chairperson Teresita Sy-Coson said that the SM Group has been “particularly active” with developments across all its core businesses in banking, retail and property which is indicative of the Philippine economy’s growth story.

“The reason why we merged the residences, malls, hotel, commercial, leisure and other landbank under SM Prime was to create a property company that is strong and well positioned for the future,” Mrs. Coson said.

She added that SM continues to have faith in the growth of the Philippine property sector which is just emerging. “The strength of SM has always been to create and leverage synergies across all businesses and this merger does that for our property units. As a result, we can do larger and more long-term integrated master planned developments and more lifestyle cities,” Mrs. Coson added.

SM Prime Vice President for Finance Teresa Reyes-Agsalud meantime said that as a result of the merger, SM Prime is in a position to pursue its next phase of growth. SM Prime now has access to a significantly larger land bank of over 900 hectares and real estate assets of US$13.8 billion as of the end of December 2013.

“The bigger scale and enhanced capabilities will allow SM Prime to unlock revenue synergies within the group as well as pursue larger and more attractive opportunities in the market,” Agsalud said.

She said that part of the strategy of SM Prime is to develop more “lifestyle cities” similar to the 60-hectare Mall of Asia Complex in Pasay City which will optimize land where premiere malls currently stand.

SM Prime is eyeing to replicate such lifestyle cities in SM Clark in Pampanga where the company already has an existing mall; SM North EDSA; its rising development SM Seaside City in Cebu; and in SM Lanang Premier in Davao.

SM Prime is eyeing building a Park Inn hotel in Clark. SM North EDSA hosts call center operations in its Annex Building and is adjacent to Grass Residences while just across the road, SM Cyber West , which is already 100% pre-leased since last year, is scheduled for completion in 2014. SM Seaside City Cebu, which will open in 2015, sits on a 30-hectare lot and will house a 400,000 square meter mall to be followed by another SM Arena. SM Lanang Premier, which was opened in 2012 is next to Park Inn Hotel and includes an SMX Convention Center.

“We are convinced that by working together as one SM Prime significant value and synergies can be unlocked for all our stakeholders,” she said.

SM SVP for Investor Relations Corazon Guidote also cited the Mall of Asia Complex as a classic example of how commitment, taking a long-term position, proper planning and execution on a development can unlock significant value not just for shareholders but for the whole city of Pasay.

“When I joined SM, there was just the mall in MOA. Now you have the mall, SMX, the MOA Arena, and the offices and residences which are interrelated in terms of operations. These developments enhanced the value of the land in MOA by over 23 times since the late nineties even prior to the property merger,” Guidote said.

She also said that SM sees opportunities for growth in offices and hotels.

“For the offices, we will be increasing momentum through our E-com buildings. Initially the plan was to put up four but now the plan is to come up with five. For the hotels, we will be putting up more Park Inns. Davao is doing very well and it really suits the needs of the market at this time,” Guidote said.

“By holding on long-term and trying to optimize synergies within the group, that’s how we create value for shareholders,” Guidote added.