Author: siamese401

By: Doris Dumlao-Abadilla
Philippine Daily Inquirer / June 25, 2021

Property developer Philippine Realty and Holdings Corp. (Philrealty) has boosted its landbank with the completion of a tax-free asset swap deal that allowed the Lanuza family-led company to take over two valuable vacant lots in Bonifacio Global City (BGC) with a combined size of 3,200 square meters.

In a disclosure to the Philippine Stock Exchange on Thursday, Philrealty announced the completion of the transaction with stockholder Greenhills Properties Inc. (GPI), to which it would issue about 4.18 billion in new common shares from its authorized capital stock.

With Philrealty using its own stock as currency to pay for the two prime lots, GPI will now own a total of 5.93 billion common shares in Philrealty, jacking up its ownership to 65.2 percent from 35.67 percent.
Philrealty said it had already received from the Taguig City’s Registry of Deeds the land titles for the two vacant lots.

The first property is a 1,600-sq-m lot (Lot 1 Block 8) located at the corner of 6th Avenue and 24th Street. The other is also a 1,600-sq-m lot (Lot 4 Block 8) located at 6th Avenue corner 25th Street.

A certification from the Bureau of Internal Revenue (BIR) had been obtained back in 2019 confirming that the transfer of the two vacant lots was not subject to income tax, capital gains tax, expanded withholding tax, donor’s tax and value added tax. The BIR had also issued a supplementary ruling in 2020 confirming the tax-free merger of GPI and its wholly owned subsidiary, Lochinver Assets Inc., which originally held the second lot.

In 2019, the Securities and Exchange Commission approved the doubling of Philrealty’s authorized capital stock to P8 billion divided into 16 billion shares at a par value of P0.50 per share, giving the company leeway to acquire the new lots without using cash.

Philrealty officially exited court-assisted corporate rehabilitation in 2017, becoming the first publicly listed company battered by the Asian financial crisis to graduate from court receivership. It was able to settle all its obligations with all its five creditor-banks through dacion en pago (payment in kind) and by way of cash payments from the sale of assets and real estate inventory. It was also able to fully repay restructured unsecured loans.

The company has since then made plans for a big comeback in the property market. It is currently valued by the stock market at P1.3 billion. INQ

Read more: https://business.inquirer.net/325713/philrealty-secures-tax-free-2-prime-lots-in-bgc#ixzz6z3sAxaz6

We are pleased to present the Company’s achievements and progress in 2019, as well as the exciting prospects for the years ahead.

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Philippine Realty and Holdings Corporation (“Philrealty” which is traded in the PSE as “RLT”) saw its consolidated earnings rise by more than 23% in the first half driven by continuing strong real estate sales combined with an effective and tighter lid on expenses.

Philrealty reported a first half consolidated net income of P38.9 Million, higher than the P31.5 Million posted in the same period of the previous year.

The bottom line upgrade was fueled by the company’s real estate sales for January to June of almost P549 Million and an increase in management fees that reached P21.1 Million.

Major cost savings were also realized from the year ago levels as total expenses for the period declined P17.3 Million to P557.6 Million from the over P575 Million recorded in the first semester of 2018.

“We remain very optimistic with our business prospects for the rest of the year especially since we are seeing the economic landscape becoming more and more favourable for consumers with inflation continuing its dip,” said Philrealty President and CEO Alfredo del Rosario. “Such development will surely strengthen the power of their peso and spur greater consumer spending,” he added.

Looking at the company’s balance sheet, RLT’s Total Assets for the first half of 2019 expanded over 4% to P5.2 Billion from P5.0 Billion registered as of end-2018. The increase was realized as the robust sales of the company’s real estate inventories generated substantial amounts of cash and cash equivalents as well as trade receivables. RLT’s
holdings of cash and other cash equivalents assets more than doubled to P193 Million from last year’s P78 Million. Trade and other receivables also increased by over P235 Million to reach more than P1.2 Billion compared to the P1.0 Billion level posted a year ago.

Still on the company’s balance sheet, Philrealty exhibited continuing very healthy liquidity ratio, as its current ratio still improved to 4.3:1 in the first half of 2019 compared to the already excellent 4.1:1 ratio reported as of end-2018 based on RLT’s audited financial statements. The company’s leverage ratio dipped a bit to 0.49:1 as of end-June 2019 compared to what was recorded as of end-2018 of 0.45:1, but the company’s debt-to-equity ratio continues to be very ideal and vastly superior compared to most property development companies.

Premium property development company, Philippine Realty and Holdings Corporation (RLT) achieved strong gains in the third quarter of the year as net income after tax rose 1,725% to P44.5 Million compared to P2.5 Million for the same period in the previous year.

RLT reported gross revenues of P1.004 Billion which is 55% higher than the P647.4 Million recorded in the same period last year. The buoyant sales of real estate and higher rent income were the main drivers of revenue growth in 2018.

Philrealty Chief Financial Officer and Treasurer Edmundo Medrano said, “We are very hopeful that the awareness and the momentum generated by our sales group will spill over to the fourth quarter. Since our real estate inventory is of the truly premium variety, our market is not affected by increases in interest rates. On the contrary, the currently high inflation rates tend to induce high-end property purchases as we have seen in our property sales. Given that bank deposits now are lower than the inflation rate, premium properties become a good hedge against inflation.”

Sales performance making a big difference
RLT reported that real estate sales growth for the first three quarters of 2018 compared to 2017 was recorded at 56%. Top-selling projects for the period were the company’s luxurious residential developments in the Metro – SkyVillas and SkyLine Towers in Quezon City and the Icon Plaza in Bonifacio Global City.

Rental income, which increased by a remarkable 220% compared to 2017, reached P68.1 Million for the period ending September 2018.

RLT’s liquidity and solvency
The Company’s Current ratio has been improving over time. They are at very healthy and comfortable levels peaking at almost 8:1 as of 30 September 2018.

Similarly, the RLT’s Debt-to-equity ratio has remained very conservative. In September 2017, the Company’s financial leverage ratio was at 0.58:1. It improved to 0.45:1 as of end-December 2017. And it significantly got even better as of end-September 2018 at 0.29:1.

The Asset-to-equity ratio of RLT also showed improvements over time. It was at 1.58:1 as of end-September 2017, 1.45:1 as of year-end 2017 and 1.41:1 as of 30 September 2018.

The decreasing Debt-to-equity ratios and Asset-to-equity ratios of the Company clearly demonstrate that the Company’s real estate business is currently being financed in a very conservative manner, with a large proportion of investor or shareholder funding and a small amount of debt.

Other businesses
RLT President and CEO Alfredo del Rosario expressed his excitement on the company’s future growth, citing new development projects in the pipeline: “We are happy with how our basic products are selling at this point.  However, we are bound to surprise the market with the exciting projects that we will be doing in the next few months and years.” Philippine Realty and Holdings Corporation, a pioneer in the real estate industry, is the name
behind high-end property developments like The Alexandra, La Isla, and Tektite Towers in
Ortigas, The Alexis in Pasig, and Casa Miguel in San Juan.

Multigenerational families in the Philippines are moving into homes located in just one building. Here’s why you should consider that too.

These days, empty nesting doesn’t present much of a problem for older generations of Filipinos—not when their children are perching on other branches of the same tree. In fact, more Filipino families are moving into “vertical compounds,” wherein multiple generations live on separate floors or in different units of the same building.

Within the last decade, the number of multigenerational households in the Philippines has nearly doubled. In 2007, a study published in the Philippine Population Review found that 21.4 percent of Filipino families live in households that include children, their parents, and their grandparents.

Viacom Global Insights’ 2017 Kid Power survey, on the other hand, saw the number of Filipino kids living in these types of multigenerational households balloon to 41 percent—well above the global average of 13 percent. This growth in multigenerational households has led to a shift in how families relate to each other and in turn, how their homes are built.

Having a multigenerational household has its downsides, but the benefits prove to outweigh them in the long run. Companionship and support are cited to be the biggest benefits of this setup. When executed right, a multigenerational household can hit the perfect balance between privacy and proximity.

With the recent boom in condominium development in Metro Manila, more Filipino families are opting to live in vertical compounds. It isn’t enough, however, for generations to live in the same building; each family’s home needs to be conducive to their lifestyles.

Neighborhoods like New Manila, for example, tend to be more preferable locations for multigenerational families than those located within or near the metro’s central business districts. These areas are quiet enough to feel like an exclusive village, but close enough to commercial centers and major thoroughfares to connect everyone with what brings city life its unique energy.

According to one New Manila family living in this setup, spacious interiors are also an important consideration. Condominiums like SkyVillas at One Balete, for example, with floor-to-ceiling heights of 3.1 meters and up to 400 square meters in floor space, create a sense of privacy within their homes without isolating them from their parents.

That luxury of space allows them to feel like their respective homes are fully theirs, despite living in the same building. It also gives their families room to grow, just as much as their village homes would.

Perhaps the most valuable change the vertical setup brings to modern Filipino families is that it also strengthens the bond between generations. Picture this: a soon-to-be grandmother is excitedly having a nursery set up in her spacious two-bedroom (132 sqm) club suite so that her son doesn’t have to bother looking for a sitter come date night. He can just head upstairs and drop his daughter off with Lola.

It’s an ideal environment they can live in for decades to come, with several parents looking to pass on their homes to their children later in life.

For Filipino families, this sense of heritage is priceless.

To learn more about SkyVillas at One Balete, click here.

The best homes are places of recreation as much as venues of respite. For those who dream of a living space with all the luxuries that fuel passions and encourage hobbies, creating specialty rooms is definitely a consideration. With a vast space, the home can be so much more than just an accommodation—it becomes a retreat.

1. Play timeless records in the music room.

The music room ideally houses the family’s collection of instruments, which when not in use are displayed as prized possessions rather than stored. Here is where family members also hold small performances and musical numbers for entertainment. For mere music enthusiasts, this room may also be built to preserve vinyl records or CD collections, which are played on excellent surround-sound audio systems for a full musical experience. Preferably, music rooms are soundproofed.

2. Store spirited drinks in the man cave.

Here is where the man of the house can unwind and drink a shot or two. An idea would be to fuse the underground cellar with a bar. Behind the bar counter and shelves of various spirits, wine connoisseurs may opt to have a built-in cellar to store their collection in a controlled environment, free of humidity. If cellars seem too fancy, then the bar could simply include wine coolers.

3. Archive page-turning books in the library.

If you’re an avid learner with books too many to fit on a regular shelf, then a library could be the solution to your woes. Having a home library is an opportunity to experiment with out-of-the-box designs.

Depending on your personal taste and available space, you may seek inspiration from Beinecke Library in Connecticut, for instance, which is inspired by a wine cellar, or from the Library Hall in Prague, which features marvelous hand-painted ceilings. The library may also double as a work or study room for both kids and adults.

4. Nurture the arts and crafts in the “she” shed.

The female equivalent of the man cave serves as a getaway for the matriarch of the family. This haven is where the woman of the house indulges undisturbed in whatever hobby or craft. Some of the most interesting “she” sheds we’ve seen are ultra-feminine tea rooms, beads and crafts spaces, and even a beauty room filled with perfume collections and makeup dressers.

As a hidden space, its interior design need not match the look of the entire house, and may simply take from the liking of the lady of the home.

5. Hold a fun family competition in the game room.

Also known as the entertainment room, the game room provides indoor recreational activities, which can center on large billiards or ping-pong tables. Opt to have arcade games or gaming consoles installed by the side of the room, and the children will never have to leave the house to meet their friends over games.

6. Make the playroom a place your children can look forward to.

For families with smaller children who aren’t quite ready for the activities in the game room, a playroom, lined with cushiony puzzle mats and child-proof features, seems a better fit. The playroom also helps separate the clutter of toys from the children’s bedroom, so bedtime strictly means bedtime.

7. Enjoy a weekend movie night in your very own home theater.

Home theaters are becoming a more common fixture in the house. Hours of family bonding consist of television time, after all, so installing a home theater merely enhances that experience. Deck out the theater with a stellar sound system, remote-controlled light-dimming options, and indulgent armchairs that recline to your heart’s content. A top tip? Make use of a screen projector for the most authentic theater feel.

8. Build a healthier lifestyle by having a home gym.

A gym in the comfort of your own home leaves no excuse to skip daily exercise. The selection of exercise equipment need not be extensive but should contain tools for cardio, strength training, and toning at the very least. Don’t forget to use mats to protect the flooring from the weights, stationary bikes, and treadmills you will be installing.

These specialty rooms are not solely for entertainment, but also for the enrichment of the homeowner’s lifestyle. In order to create a home with these rooms, house hunters should seek a formidable space, large enough to accommodate a place for each passion.

Investing in a property that boasts generous room allotments and ceiling height is the first step in achieving the dream living space. Those convinced can find the answer at SkyVillas at One Balete. The community situated in New Manila promises spacious living quarters in every option, from each of its suites to its penthouses.

Aside from the spacious one-, two-, and three-bedroom suites, SkyVillas at One Balete also has specialty units that range from 300 to 400 square meters ready to be occupied by homeowners looking for a well-lived life. Want to know what it’s like? Click here to take a 360 virtual tour of the spacious SkyVillas units that can easily house the different aforementioned specialty rooms.

specialty rooms

Here are some of the best reasons for a home upgrade.

Perhaps you’ve outgrown your current living space or your home is simply not the right fit anymore, and you’re suddenly considering moving into a bigger space. Here, we help you dissect the reasons why a bigger home may be the best option.

1. You need more wall space.

Wall space is often taken for granted, but studies show that ceiling height can influence and impact you in more ways than you think. Higher ceilings have been shown to make you think, feel, and act more freely. SkyVillas at One Balete prioritizes space by offering a ceiling height of 3.1 meters, compared to the industry standard of 2.8 meters. Art collectors will find comfort in SkyVillas’ generous ceiling heights that are perfect for showcasing paintings, sculptures, and other art pieces. Making use of the height, each SkyVillas unit is equipped with glass and steel windows that strikingly spread out natural light.

2. Your children require room for play and your pets require floor space.

This is enough of a reason to upgrade your current living space to a much larger and suitable floor area. From SkyVillas’ one-bedroom units to its grand penthouse, there is plenty of space for children to play and pets to roam. The luxury apartment prioritizes floor space along with security and privacy by keeping units to a two-to-eight range for each floor. In fact, SkyVillas’ Grand Penthouse Lanai Villa features a 28-square-meter veranda that pets will enjoy.

3. You want your household helpers to have the same degree of space.

It’s no question that every family wants the best for their household helpers, too. It can be tricky to know where to place living quarters, but SkyVillas has managed to create a separate maid’s and driver’s space, which is considerably a unit on its own. It also has its own service entrance. Each SkyVillas unit comes with a spacious maid’s room with bathroom, while the Junior Penthouse Veranda Villa and Grand Penthouse Lanai Villa come with driver’s rooms.

4. Your priorities have changed.

It’s likely that you bought your current home in a different time and place in your life. Either you need a bigger space for a growing family or for convenience. Consider SkyVillas at One Balete, New Manila, which allows easy access to notable landmarks and recreational spaces such as malls, schools, churches, and restaurants. The gated residential property is also conveniently located near major thoroughfares which translates to quicker travel time and more leisure time.

5. You need more parking spaces.

Limited parking spaces are the bane of many homeowners’ existence, especially in the city, where spaces have become rare commodities. This is why each SkyVillas suite comes with assigned parking slots to save you from parking woes. With the Grand Penthouse, for instance, comes five allotted parking spaces. The basement parking lots are protected by the building’s security control center’s CCTV systems and RFID access to the parking entrance and main gate. Three high-speed passenger elevators also transport you from point A to B in mere seconds.

6. You lack space for the extras.

Not all homes have the space to accommodate gyms, libraries, or swimming pools. Maintaining these spaces may also be demanding and inconvenient. SkyVillas offers many amenities such as a gym, a meeting room, a clubhouse, and a swimming pool where you can enjoy and avoid worrying about the upkeep. Aside from the various amenities, SkyVillas’ penthouses have guest rooms that are perfect for when you have family and friends over.

A good neighbor goes beyond the curt smile and the welcome gift.

Remember: Living in a high-rise doesn’t exempt you from the rules that govern big neighborhoods. Here, we share our top tips on being a congenial member of your vertical community.

1. Be more than polite.

Sure, a wave and smile is fine, but a verbal recognition of your neighbor’s existence is infinitely better. Also, make it a point to know the names of the employees in your high-rise, even if they’re technically not your neighbors. The concierge, security, maintenance staff, and parking attendants are part of your community, too.

2. But do respect boundaries.

Two things to remember: walls and floors. What sounds fine inside your apartment can be obnoxious beyond your walls and underneath your floors. Yes, daytime tolerates the melody of life’s activities. But after eight in the evening, when your neighbors are starting to unwind, please keep sounds to a pleasant murmur.

3. Keep shared spaces sacred.

Apply the same fastidiousness at the lobby, the pool area, the hallways, and other communal spaces as you would in your own home. That means keeping public places spick-and-span every time you use them. Keep in mind, too, that you share spaces, so never engage in behavior best left behind closed doors. That means: Mind your manners.

4. Mind your little ones.

‘Little ones’ can refer to your darlings: children and pets. It is the duty of good neighbors to teach the golden rules of discipline to their kids. As for pets, keep them on a leash and clean up after them if they make a mess. That way, they always leave a good impression and seem friendly to other neighbors.

5. Socialize, socialize, socialize!

It would be a shame to stay cooped up in your plush abode when surely there are friendships waiting to be built out there. You’ll never know whom you have similar interests with if you don’t talk to anyone. And they may never know that beneath your mask of confidence is a soft heart that lives for the romance in Victoria.

6. Go above and beyond when needed.

The thrill of life is in the unexpected moments. When your neighbor knocks on your door to ask you a favor, see how you can help. It’s the kindest thing to do, after all. Who knows, it’d be over before you know it.

7. Be present in your vertical community.

Playing a role in your building’s property board or condo corp shows that you care about being part of your exclusive community. It’s not as hard as you think. Just carve out time to attend social events, add your voice during a meeting, and remember to vote on the important issues. Also, being part of the group can help solve community issues quicker and more amicably.

Regardless of how often you meet your neighbors at SkyVillas at One Balete, the New Manila residential tower that boasts of having only two to eight apartments on each floor (read: very private), good conduct is always expected among residents.

So when you step out of your bright abode, with a high ceiling of 3.1 meters and overlarge glass windows, save yourself the trouble and follow this checklist. All it takes is a little graciousness in everyday situations like, say, waiting for the high-speed elevators with your neighbor. A dose of niceness truly enhances social relations. And isn’t that what we all want where we live?

Mention the name “Quezon City,” and various images immediately run through the listener’s mind: government buildings, the Philippines’ leading schools and universities, TV networks and studios, large-scale malls that command a lot of foot traffic, a multi-purpose arena that hosts famous concerts and popular sports events, and a national park named after the country’s former president. All these make the former capital ripe to be one of the most progressive districts in the metro.

To date, Quezon City remains to be the National Capital Region’s largest city, both in terms of geographical space and in population. With a land area of 161.126 square kilometers, it can easily fit Makati City six times over, or have enough space for 14 cities the size of Mandaluyong.

Its three-million-strong population is composed mainly of millennials and minors, the future workforce that will soon have the decision-making prerogative in their companies, and the perks and spending power to enjoy it.

All those advantages are drawing in investors who are converting a city, once perceived to be staid, if not static, into a booming property hub that will soon offer considerable value to building owners, commercial enterprises, their tenants, and market traders, just to name a few.

Carl Dy, property advisor and president of Spectrum Investment, elaborates, “Many business buildings are being built now, and the Quezon City Memorial Circle itself is undergoing a transformation. Well-known names in property development are putting up new hotels, residential areas, and activity places for entertainment.”

These individual pockets of trade and industry will then be linked together by two public transportation facilities that will transport people and products within and even beyond the borders of Quezon City. MRT-7 will start from Bulacan and end near the Tandang Sora area, passing through Novaliches, Fairview, Batasan, and the University of the Philippines. Then, to be completed in a couple of years’ time, the Skyway 3 will literally bridge the length and breadth of North and South, connecting the NLEX to the SLEX. Traffic just might ease up, and a population bogged down by congestion will rediscover the simple joys of living and doing business in the big city.

Dy says that the young and dynamic workforce in Quezon City is key to its progressive and economic boom. He says, “Those three million people comprise a melting pot of an educated workforce and a large consumer base. Forty percent of that population is less than 20 years old, young and energetic. Quezon City becomes a 24/7-running city, which is good for business. Companies will have workers when they open for business, and shops and restaurants will have people in them day and night.

“It’s already starting. Quezon City has the BPO service industries in various areas. It is already a medical and wellness hub with lots of hospitals. Media is strong, due to ABS-CBN and GMA-7.”

Dy points out that Quezon City is at that particular city stage when “it is about to bloom.” The enterprising who want a significant return in investment can buy property at a time when it is affordable, and then sell it years later once the city and its property value reach their peak. Others who want to own their own home can invest in a house now and see it grow in value in the next few years.

“Property is all about buying low and selling high,” says Dy. “For example, take a look at recent history. In 1985, a 500-sqm property in New Manila cost P800,000; but if you sell it today, 30 years later, you can sell it for P40 million.

“The property prices today in Quezon City are not as expensive as those in Makati or Bonifacio Global City. You can still acquire property at a low price. A typical BGC condo may cost you P200,000 per square meter, but you can get the same thing in QC at a cost of P140,000 to P150,000 per square meter.”

Growing families may also find Quezon City an attractive place to invest in, because of the accessibility to hospitals, first-tier schools, and safe but vibrant recreation centers. Some property developers are addressing this increasing market by including family-friendly features in the condominiums and apartments they are putting up.

Alfredo S. Del Rosario Jr., President and CEO of Philippine Realty and Holdings Corporation, gives one example: “Our vertical development, SkyVillas at One Balete in New Manila, celebrates the luxury of space. Staying true to the New Manila heritage means having expansive spaces where one can really grow the family. Our smallest unit, a one-bedroom apartment, measures approximately 65 sqm; our penthouse suites go up to more than 430 sqm.

“All kitchens are fully fitted with SMEG appliances—refrigerator, oven, range hood and hobs—while the bathrooms only use Grohe and Kohler fixtures. The bedrooms are already fitted with cabinets for storage. The apartment is practically ready for move-in—it already has built-in LED lights, multipoint water heaters and air conditioning.”

Dy enthuses, “Quezon City is a real exciting city that one can watch out for, because a lot of things will be changing. It will soon have its own business district. There will be opportunities for a lot of people to prosper.”

Given the numbers, investment in QC appears to be a smart, strategic move. As the city grows and unleashes its potential as an economic powerhouse, its value as a property will rise. The enterprising who likewise place their own stakes in its vision may experience a new level of affluence.

Article from: lifestyle.asiandragonmagazine.

Jazz up your home the way Ethan Allen would.

Ethan Allen’s interior consultants for SkyVillas at One Balete reveal their secrets to making houses look and feel luxurious.