#Pasig Foreclosures

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Foreclosed Properties at Shine Residences

📍 Shine Residences, Rennaisance Community, Meralco Ave., Brgy. Ugong, Pasig City 🔹ABOUT THE DEVELOPMENT Shine Residences is a prominent residential development located in the heart of Ortigas Center, Pasig City, developed by SM Development Corporation (SMDC). This luxurious condominium complex is part of the Renaissance Center and offers a blend of modern living, convenience, and upscale…

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Strong property demand seen in Q3 2020

#PHnews: Strong property demand seen in Q3 2020

MANILA – Latest report from Lamudi, an online marketplace for properties, showed real estate demand in major regions in the country has remained strong in the third quarter of the year.

 “The easing of quarantine protocols have benefitted the property sector. Construction initiatives were able to resume and government offices began issuing development permits again. Property seekers have maintained a strong appetite for real estate in major regions as they became more at ease with the new normal,” said The Outlook by Lamudi released Monday.

 The report indicated Quezon City was the top area in Metro Manila for buying transactions, accounting for 49 percent of Lamudi’s page views and 50 percent of total leads.

 This was followed by Makati, Manila, Pasig, and Parañaque.

 Most inquired property in Metro Manila for the third quarter of 2020 were houses, land, condominiums, foreclosures, commercial, and apartments.

 On the other hand, page views for metro Cebu still registered a growth of 22 percent and inquiries of 12 percent in the July to September 2020 period.

 However, this was lower than the 26-percent page views growth and 50-percent increase in inquiries in the second quarter of the year due to the height of the strict quarantine measures in metro Cebu.

 Page views for properties in metro Davao maintained a 29-percent growth, while inquiries improved to 16 percent in the third quarter from 14 percent in the second quarter of the year.

 “Property seekers looking into Cebu City and Davao City see the potential of increased value of land assets following the government’s push for infrastructure development in these cities,” Lamudi’s report added.

 Further, Lamudi said property seekers now appreciate large floor areas for their property following the experience of staying at home for a longer period.

 “House and lots and land-only projects have captured great interest as preferences for the living set-up tilt to horizontal developments,” it added.

 Lamudi said the movements in demand and supply in the local property sector for the last quarter of 2020 will depend on the state of the current health emergency.

 “Nonetheless, the reopening of the economy will prove optimistic for the property sector moving forward,” it said. (PNA)

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References:

* Philippine News Agency. "Strong property demand seen in Q3 2020." Philippine News Agency. https://www.pna.gov.ph/articles/1124038 (accessed December 08, 2020 at 02:26AM UTC+14).

* Philippine News Agency. "Strong property demand seen in Q3 2020." Archive Today. https://archive.ph/?run=1&url=https://www.pna.gov.ph/articles/1124038 (archived).

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Pre-owned 1 BR Condo w/ Parking at Madison Park West, BGC

Pre-owned 39 sqm 1 BR Condo w/ Parking at Madison Park West, BGC FOR Sale for only 11.5M!

📍 Madison Park West 7th Avenue corner 36th and 38th Streets North, Bonifacio Global City, Taguig, 1637 Metro Manila, Philippines. 🔹ABOUT THE DEVELOPMENT Madison Park West is a luxury condominium development located in Bonifacio Global City (BGC), Taguig, Philippines. The development is designed to embody a cosmopolitan lifestyle, drawing inspiration from New York City’s Madison Avenue. It aims…

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Foreclosed Studio 1529 The Linear Makati

Own a Makati studio condo for less! This foreclosed unit (24 sqm) at The Linear awaits. 15th floor, great amenities. Cash or Bank Financing. Viewing by appointment (3 days' notice). Contact JM Listings: +63968-649-9260

📍 Unit No. U1529, 15/F, Tower 2A, The Linear, corner of Malugay and Mayapis Sts., Brgy. San Antonio Village, Makati City 🔹ABOUT THE DEVELOPMENT The Linear Makati is a prominent mixed-use development located in the heart of Makati City, specifically at the corner of Mayapis, Malugay, and Yakal Streets in Barangay San Antonio. Developed by Filinvest Land, this project consists of two 24-story…

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Foreclosed Properties at Shine Residences

📍 Shine Residences, Rennaisance Community, Meralco Ave., Brgy. Ugong, Pasig City 🔹ABOUT THE DEVELOPMENT Shine Residences is a prominent residential development located in the heart of Ortigas Center, Pasig City, developed by SM Development Corporation (SMDC). This luxurious condominium complex is part of the Renaissance Center and offers a blend of modern living, convenience, and upscale…

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PCC clears Razon-Ayala water deal

#PHnews: PCC clears Razon-Ayala water deal

MANILA – The Philippine Competition Commission (PCC) has approved the acquisition of a controlling stake by Trident Water Holdings Company Inc. (Trident Water), the holding firm of Prime Metroline Holdings Inc. (PMHI), in Manila Water Inc. (Manila Water).  

 The transaction involves the acquisition by Razon-led Trident Water of 51-percent voting interest in Ayala Group’s Manila Water by way of Trident Water’s subscription of 820 million common shares of stock from the unissued authorized capital stock of Manila Water. 

 Manila Water’s subsidiary, Philwater Holdings Company, is set to grant proxy in favor of Trident Water over the seller’s preferred shares to allow Trident Water to achieve a 51-percent voting interest in Manila Water. 

 In its Commission Decision, the PCC finds that the transaction will not likely lead to a substantial lessening of competition in the market of the supply of raw water to the East Zone Concession Area. 

 This is because Manila Water, as the sole water distributor in the East Zone geographic market, has a captive customer base and no downstream competitors based on a concession agreement Manila Waterworks and Sewerage System (MWSS). 

 As waterworks is a form of “natural monopoly” allowed by law through regulation, East Zone concessionaire Manila Water is subject to the extensive oversight and regulation by the MWSS in operating within 23 areas including Makati, Mandaluyong, Pasig, Pateros, San Juan, Taguig, Marikina, parts of Quezon City, Manila, and portions of Rizal. 

 In the merger review by Mergers and Acquisitions Office (MAO), the merged entity will neither have incentive nor ability to engage in customer or input foreclosure in the said market. 

 While PCC found that there is an absence of horizontal overlaps between the parties and are not direct competitors, the PCC review noted that a vertical relationship exists between the parties’ notifying group within the water sector before this merger transaction. 

 However, the PCC found that customer or input foreclosure is unlikely given the arrangement is meant to service the East Zone even beyond the lifetime of Manila Water’s concession. 

 Such foreclosure is deemed unlikely by PCC since the operation, including the procurement, development, allocation, rate rebasing, and other supply-and-demand dynamics in the water sector, are highly regulated by MWSS.  

 Trident Water Holdings Company Inc. is a subsidiary of PMHI whose range of business interests span hotel and gaming operations, mining, infrastructure, power generation and distribution, and port services 

 Manila Water, the acquired entity, is a publicly-listed company holding the exclusive right to provide water services, particularly water treatment, water distribution, sewerage and sanitation services, to the eastern zone of Metro Manila via a concession agreement with the Metropolitan Waterworks and Sewerage System (MWSS). (PR)

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References:

* Philippine News Agency. "PCC clears Razon-Ayala water deal." Philippine News Agency. https://www.pna.gov.ph/articles/1113346 (accessed August 26, 2020 at 04:26AM UTC+14).

* Philippine News Agency. "PCC clears Razon-Ayala water deal." Archive Today. https://archive.ph/?run=1&url=https://www.pna.gov.ph/articles/1113346 (archived).