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RIGHT TO OWN CONDOMINIUMS: Foreigners can buy and enjoy 100% ownership of a condominium unit in the Philippines provided that the condominium project or developer maintains 40% Foreigner and 60% Filipinos of the ownership of units in any Condominium project. RIGHT TO OWN LAND: Foreigners cannot buy land in the Philippines but he/she can own it […]
More Cebu malls sprout, expand CEBU is set to become an emerging shopping destination in the Philippines as existing mall operators are expanding and new ones are set to rise in the different parts of the province in the coming years. Ayala Center Cebu mall developer Cebu Holdings Inc. (CHI) president and chief executive officer […]
DEVELOPING A RESIDENTIAL CONDOMINIUM IN THE PHILIPPINES Before one develops a residential condominium, there are different studies to be done. There should be economic, policital, marketing, financial, engineering and environmental studies to be done. Then there are other requirements that should also be studied, such as the building standards, taxes, legal aspects, documentary requirements, traffic […]
How does in-house financing compare with pag-ibig and banks? The advantages of in-house financing are: 1) Simplicity of documents required. You need not be subjected to thorough background/credit check as compared to banks or pag-ibig. A Filipino wife who has no or inadequate income for herself can be approved for in-house housing loan if she […]
What are the most important things I should know before buying a condominium unit? Will I get complete disclosure? Documents: Check if the developer has obtained all the necessary documents from the concerned agencies. Although License to Sell is one of the major requirements, it is not a guarantee that the project will be finished. Check […]
Philippine tourism registers positive growth MANILA, Philippines — The Philippine tourism industry is ending 2011 with a bang. The Department of Tourism reported that over 3.2 million visitors arrived in the country from January to October, 2011, a 13 percent higher than the target of 3.8 million arrivals for this year. The month of February, […]
How Real Estate helped 107 years old man with no pension Eight years ago, at age 99, Leonard McCracken failed the eye test for renewing his driver’s license. He put his Lincoln Continental up for sale and got $1,600. “I sold it in three days — I got a good price. I love to […]
Electrical misuse is No. 1 cause of fires in Cebu City BEWARE of “octopus” connections, substandard Christmas lights and cooking fires that go unattended. These are some of the reminders of the Bureau of Fire Penology (BFP) in Cebu City in its daily visits to barangays. In mid-October, Cebu City Fire Marshall Aderson Comar and […]
Cebu Company Wins Water Project MANILA, Philippines — Cebu Bulk Water Resources Inc., a Cebu-based water conglomerate was able to challenge the Ayala-led Manila Water Consortium based in Quezon City in its bid to develop the P1.55-billion Carmen Bulk Water Supply Project with the Province of Cebu. The other challenger, the Metro-Maynilad Consortium of Makati City, […]
Ayala investing P1B on first high-end condo project in Cebu By: Marites S. Villamor Business World November 19, 2010 CEBU CITY — Ayala Land, Inc. will invest around P1 billion on its first upscale condominium development in Cebu. Ayala Land executives hope to get the license to sell all 109 units of 1016 Residences — […]
