Megaworld to open two new hotels this year

Megaworld, the country’s leader and pioneer in developing integrated urban townships, is opening two new hotels this year in its two townships in Metro Manila and Iloilo.

Richmonde Hotel Iloilo, which will occupy eight levels of the 12-storey Richmonde Tower in the 72-hectare Iloilo Business Park in Mandurriao, Iloilo City, is set to open in June this year. The business hotel will be the first Richmonde Hotel outside of Metro Manila and will have 151 guest rooms.

It will house a restaurant and deli, function rooms, business center, fitness gym as well as a lap pool with its own pool bar.

Megaworld has commissioned world-renowned architectural firm Gettys to design the hotel’s façade, grand lobby, restaurant and guest rooms. Gettys took inspiration from the city’s rich agricultural roots for the hotel’s design concept.

The same firm has designed some of the world’s prestigious hotels such as The Peninsula Hong Kong; Hyatt Regency in Cancun, Mexico; Jumeirah Beach Hotel in Dubai; The Ritz-Carlton in Miami, Florida; Four Seasons Hotel in Chicago; Westin Golf & Spa Resort in Abu Dhabi; Shangri-La Hotel in Beihai, China; and Hard Rock Hotel in Macau, among others.

By second half of the year, another hotel will open in the 25-hectare Newport City, the country’s first 24/7 integrated leisure and entertainment township that is home to the famous Resorts World Manila.

The Belmont Luxury Hotel Newport, just right in front of the new Marriott Grand Ballroom and a walking distance from Resorts World Manila, will stand 10-storeys high with 480 well-designed suites.

The hotel boasts of first class amenities that include pocket gardens and landscaped atrium, 24-hour fitness center and workout area, lap pool with in-water pool lounge, paved sunbathing lounge, massage deck and seating area, pool spa, steam and sauna as well as its own medical clinic.

The hotel will also have its own coffee shop and bar and some retail shops at the ground level.

Last year, Megaworld chairman Dr. Andrew L. Tan announced that the real estate giant along with its sister company Travellers International Hotel Group will be building hotels around the country with a total of 12,000 rooms.

In the next five years, both companies will be expanding to an additional 10,000 new hotel rooms, all of which will be in Megaworld’s township developments.

At present, both Megaworld and Travellers International have already built 1,900 rooms in its existing hotels: Richmonde Hotel Ortigas; Eastwood Richmonde Hotel; Marriott Hotel Manila, Maxims Hotel and Remington Hotel in Newport City; and Fairways and Bluewater in Boracay Newcoast.

SM Prime Posts Net Income of PHP12.6 Billion in Q1 2015

SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property companies in Southeast Asia, reported a consolidated net income of PHP12.6 billion in the first quarter, up 176% from the same period last year which included the extraordinary gain from the sale of marketable securities worth PHP7.4 billion.

Excluding the one-time gain, net income grew 14% to PHP5.2 billion in the first quarter of 2015, higher than the 11% growth posted in the same period last year. Consolidated revenues also increased by 9% to PHP16.7 billion from PHP15.3 billion in 2014.

SM Prime’s rental revenues from retail and commercial spaces, which accounted for 57% of the consolidated revenues, grew by 10% to PHP9.4 billion in the first quarter from PHP8.6 billion in same period of 2014. The growth was led by the significant increase in rental revenues, primarily from the new malls that opened and the expansion of existing malls in 2013 to 2014. These were SM Aura Premier in Taguig, SM City BF in Parañaque, Mega Fashion Hall in SM Megamall in Mandaluyong, SM City Cauayan in Isabela and SM Center Angono in Rizal. Combined, these new and expanded malls have a total gross floor area of 564,000 square meters. Growth was also partly driven by the company’s increasing office spaces. Aside from TwoE-comCenter in Pasay, SM Prime recently launched SM Cyberwest in Quezon City which is now fully occupied. Meanwhile, same-store rental grew by 7%, sustaining the growth posted in 2014.

The mall’s cinemas generated ticket sales of PHP1.0 billion, from PHP1.1 billion with a slight decrease in blockbuster movies shown in the first quarter of 2015 versus the same period last year. Meanwhile, amusement and other revenues increased by 32% to PHP900 million in the first quarter of 2015. The increase was mainly due to the strong patronage of amusement rides, especially the opening of Sky Ranch Pampanga. Cinemas and amusements accounted for 11% of SM Prime’s consolidated revenues during the period under review.

SM Prime’s housing group, which contributed 32% to consolidated revenues, recorded a 7% gain to PHP5.4 billion in real estate sales in the first quarter 2015 from PHP 5.0 billion in the same period last year. This allowed the group to post a 37% increase in net income to PHP 1.3 billion in the period under review. The growth was mainly driven by the increase in the sales take-up and higher construction accomplishment of projects launched in 2010 to 2013 namely Shore Residences in Pasay, Green Residences in Manila, Wind Residences in Tagaytay, Grace Residences in Taguig and Shell Residences in Pasay. Meanwhile, reservation sales grew by 47% year-on-year to 3,721 units in the first quarter of 2015 translating to a 34% increase to PHP9.5 billion in value terms in the same period from PHP7.1 billion in the first quarter of 2014. Most of the reservation sales were generated from Shore Residences and Air Residences projects in Pasay and Makati City, respectively.

Consolidated costs of real estate was PHP2.9 billion in the first quarter of 2015, representing a decrease of 2% from last year. The decrease in costs improved gross profit margin on real estate sales from 42% in 2014 to 46% in 2015. This was driven by the company’s improving cost efficiencies, tighter monitoring and control of construction costs. Meanwhile, net income margin improved from 18% to 23%.

Overall, SM Prime’s consolidated costs and expenses stood at PHP9.2 billion in the first quarter of 2015 compared with last year’s PHP8.8 billion mainly from the minimal increase of administrative expenses, business taxes and licenses and depreciation and amortization by 4.5% that were attributed to new malls added in the past 12 months.

This year, SM Prime aims to open a total of four new malls. Three of which are located outside of Metro Manila, namely SM City San Mateo in Rizal, SM City Cabanatuan in Nueva Ecija, and SM Seaside City Cebu. In Metro Manila, SM City Sangandaan in Caloocan will also open. SM Prime is also expanding two existing malls, SM City Lipa in Batangas and SM City Iloilo. In total these malls will add almost 800,000 sqm of gross floor area. SM Prime’s residential unit will launch at least five new high rise condominiums with about 11,000 units in total in the cities of Las Piñas, Makati, Pasay and Parañaque, and at the Mall of Asia Complex. For the offices, FiveE-comCenter will be ready for occupancy. In the hotels and convention centers business, SM Prime is set to launch the Conrad Manila hotel by the end of 2015 at the Mall of Asia Complex.

SM Prime is the leading real estate conglomerate in the country with interests in malls, residences, office buildings, resorts, and hotels and convention centers. Its developments in the last 20 years have served as catalysts of economic growth. The company remains committed to deliver innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.

The Water Lamp is a paper that transforms into a functioning lamp

Are you an adventurer that spends most of your time outdoors? Here’s something nifty from The North Face — the Water Lamp. It basically is a piece of paper that you fold and use water to scientifically light and use at night during your camping trips.

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With travelers in mind, The North Face’s Water Lamp is thin enough to slide into any backpack or travel bag since it is essentially just a sheet of paper. To use, it has an instruction to fold the paper in certain ways and make it stand like a lamp, use water on a specific spot, and it will begin lighting up so you can use it to light a spot while on the great outdoors.

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As mentioned in the instructions, the paper illuminates because of the application of water as it “allows electrons to flow from the zinc to the copper in the paper. This electrical current powers the lamp.”

Indeed, it is a handy tool to have around since not only does it provide light, but it is also eco-friendly as it doesn’t require any electricity to operate.

Therese “Gang” Badoy Capati, who posted it on her Twitter account (@gangbadoy), mentions that it is currently available at The North Face in Shangri-La Mall, Manila. We’ve contacted the company and inquired of its price.

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Sta. Lucia to raise P6B to expand real estate projects

Sta. Lucia Land Inc., the property developer controlled by businessman Exequiel Robles, said it plans to borrow P6 billion to expand real estate projects across the country.

SLI said in a disclosure to the stock exchange the board authorized the company to issue debt instrument worth P6 billion for land bank acquisitions, acceleration of ongoing projects and funding of new projects.

SLI said it was poised to capture the country’s remarkable economic performance, with plans to accelerate expansion outside Metro Manila.

SLI recently signed 16 joint venture agreements in Davao, Rizal, Pasig, Batangas and Laguna for a total of 142.33 hectares of land. It also acquired properties in Batangas and Iloilo covering 34.53 hectares.

The company said following the acquisition of new properties, the board also approved the development of new housing projects in the said areas.

The company recently formed a wholly-owned unit called Sta. Lucia Homes Inc., a contractor company whose sole purpose is to offer construction services to the SLI group’s over 120,000 lot buyers.

The company said more than 60,000 lots buyers nationwide have yet to build their houses.

SLI reported an 83-percent increase in net income to P548 million in 2014 from P300 million in 2013, as real estate revenue jumped 80 percent to P1.44 billion from P801 million.

Majority of the growth came from the sales of Colinas Verdes Residential Estates (San Jose Del Monte, Bulacan), Monte Carlo Tower – Sta Lucia Residenze (Cainta, Rizal), Greenmeadows (Pavia, Iloilo) and Ponte Verde (Davao City).

 

Sta. Lucia to raise P6B to expand real estate projects

Sta. Lucia Land Inc., the property developer controlled by businessman Exequiel Robles, said it plans to borrow P6 billion to expand real estate projects across the country.

SLI said in a disclosure to the stock exchange the board authorized the company to issue debt instrument worth P6 billion for land bank acquisitions, acceleration of ongoing projects and funding of new projects.

SLI said it was poised to capture the country’s remarkable economic performance, with plans to accelerate expansion outside Metro Manila.

SLI recently signed 16 joint venture agreements in Davao, Rizal, Pasig, Batangas and Laguna for a total of 142.33 hectares of land. It also acquired properties in Batangas and Iloilo covering 34.53 hectares.

The company said following the acquisition of new properties, the board also approved the development of new housing projects in the said areas.

The company recently formed a wholly-owned unit called Sta. Lucia Homes Inc., a contractor company whose sole purpose is to offer construction services to the SLI group’s over 120,000 lot buyers.

The company said more than 60,000 lots buyers nationwide have yet to build their houses.

SLI reported an 83-percent increase in net income to P548 million in 2014 from P300 million in 2013, as real estate revenue jumped 80 percent to P1.44 billion from P801 million.

Majority of the growth came from the sales of Colinas Verdes Residential Estates (San Jose Del Monte, Bulacan), Monte Carlo Tower – Sta Lucia Residenze (Cainta, Rizal), Greenmeadows (Pavia, Iloilo) and Ponte Verde (Davao City).