Category: news

The Pasig City Government recognized its Top Taxpayers from the range of Business Taxes and Real Property Tax for 2023 with the theme “One of the Pillars of Progress: Honoring our Tax Contributors” during an Awarding Ceremony held on Tuesday, February 27, 2024 at The Grove by Rockwell.

In addition to recognizing the Top Taxpayers, the Awarding Ceremony also aims to express gratitude to them for paying the proper taxes on time – which is really a great help for the continued improvement of the Pasig City Government’s programs and protections for Pasigueños and their investors.

Unlike the previous awarding ceremonies of Top Taxpayers in recent years, it is not just large corporations that have been recognized for the year 2023. For the first time, even sole proprietors (business taxes) and individuals (real property taxes) were recognized for their significant contributions to reaching or exceeding the Pasig City Government’s target collection last year (their faces were blurred in photos and the post did not include a list for their protection and privacy).

To begin the program, City Treasurer Marita Calaje gave opening remarks. This was followed by inspirational messages from Mayor Vico Sotto and Vice Mayor Dodot Jaworski, Jr. The top 10 taxpayers for business taxes (categories: corporations and sole proprietors) and top 10 taxpayers for real property taxes (categories: corporations and individuals) were recognized.

After the awarding proper, Atty. Isagani Elias Elacio, the External Affairs Head and Legal Manager of Ortigas Company and Ltd. Partnership who is the over all top taxpayer from Business and Real Property Taxes – Corporation, delivered a message. And the program ended with closing remarks from City Administrator Atty. Jeronimo Manzanero.

The awarding ceremony for Top Taxpayers was led by the City Treasurer’s Office.

Source: https://pasigcity.gov.ph/news-and-releases/in-photos-awarding-ceremony-of-top-taxpayers-in-2023-694

Philippine Realty and Holdings Corp. (Philrealty), led by businessman Gerardo Lanuza, has secured a P3.8-billion loan from bilyonaryo Lucio Co’s Philippine Bank of Communications (PBCom) to fund the development of its upscale residential condominium project in Bonifacio Global City.

According to a regulatory filing, the loan has a five-year term and will be used by Philrealty to partially finance the construction of the company’s CASA UNICO project.

The CASA UNICO project is a 40-storey upscale residential condominium located in the Bonifacio South District in Taguig City.

On top of the P3.8 billion loan, PBCom has also approved the renewal of Philrealty’s loan lines amounting to P610 million to finance the company’s working capital requirements and for general corporate purposes.

The loan lines are subject to the bank’s single borrower’s limit and will expire on December 31, 2024.

Philrealty is the developer of The Alexandra and the Philippine Stock Exchange Centre.

Article from: https://bilyonaryo.com/2023/09/21/lucio-cos-pbcom-backs-philrealtys-upscale-residential-project-in-bgc-with-p3-8-billion-loan/property/

Over the past few years, we faced numerous challenges, but we are pleased to report that we are now regaining our footing. This period of adversity has not only taught us valuable lessons but also provided us with new insights on how to enhance our way of living, particularly within the spaces we operate in.

As we forge ahead, we carry these lessons with us, along with a strengthened sense of resilience. Resilience is not about denying the ongoing difficulties we encounter in our day-to-day operations, especially in the context of the “new normal.” Instead, it is an affirmation that we have become stronger and more adept at responding to the situations we face. It serves as an acknowledgment of our achievements thus far, particularly in the year 2022. We not only survived the challenges but have also emerged with greater strength and power. This positions us to rise above, overcome, and adapt to whatever lies ahead in the years to come.

Moving forward, we remain committed to delivering sustainable value and achieving our goals. With the valuable lessons learned, the resilient spirit that now defines us, and the continuous support of our stakeholders, we are confident in our ability to navigate future challenges and capitalize on emerging opportunities. Thank you for your unwavering support and trust in Philippine Realty and Holdings Corporation (PhilRealty).

– GERARDO DOMENICO ANTONIO V. LANUZA
Chairman and President
Philippine Realty & Holdings Corp.

Today, we are happy to share with you the results that your Company has achieved during the last year, as well as our plans for the coming years.

As the post-pandemic world starts to take hold and advance, your Company will move in step with our stakeholders and consumers at the forefront, providing better service and efficiency. With the recovery of the Philippine economy on the horizon, trust that your Company will continue to be on the look-out for and take advantage of opportunities to enhance its profitability and financial strength.

We will endeavor to generate more sales and leasing revenues, but always grounded in our core values and unique proposition. As more banking and other investment partnerships are forged and strengthened, we are convinced that we will be able to acquire the needed resources to bring our plans to fruition. It is also our hope that by doing so, it will further reinforce the trust of our clients and stakeholders in our commitment to produce the best results and to increase values for them.

With the guidance of our esteemed board of directors, your Company is optimistic and confident that with a clear business vision, strategic planning, thoughtful resource acquisition, and a competent organization, we will be able to continue to grow the business, thrive, and transform landscapes into the PhilRealty brand.

– Alfredo S. Del Rosario Jr.
President and CEO
Philippine Realty & Holdings Corp.

Philippine Realty and Holdings Corp. (PhilRealty), which has 40 years of trusted industry experience, remains committed to building not just developments but communities that enable residents to experience elevated urban living in a safe and comfortable environment.

PhilRealty is known for its concept of “home replacement” that focuses on family living.

Units are designed to ensure everyone can have their personal space for work, study or other recreational activities. It incorporates spacious living in intimate communities that provide privacy and exclusivity in a modern urban setting.

In the coming years, PhilRealty is looking into developing leisure propositions and townships.

PhilRealty’s master-planned projects continue to define high-end real estate development.
The company is gearing up for more innovative and luxurious vertical residential developments to meet the distinctive homeowner’s needs in a dynamic industry.

The company’s success is anchored on its landmark developments that have brought vertical living to greater heights.

PhilRealty pioneered the “home replacement” concept that allows homeowners an “uncompromised living” in a vertical community.

PhilRealty in the late 1980s was one of the first developers to combine the concept of horizontal subdivisions and vertical living in the Philippines through its flagship luxury mid-rise project, The Alexandra in the Ortigas business district.

Its succeeding development, La Isla Condominium, became the epitome of high-end living with 28 luxuriously-appointed apartments at spacious 270 sq.m. to 580 sq.m. cuts, each offering breathtaking views of the city.

Building on the success of these residential projects, PhilRealty has developed Skyline Premiere and The SkyVillas in the One Balete Compound in Quezon City as a prestigious address for homeowners who appreciate luxe living in the comforts of home.

These developments offer tranquility with the laidback charm of the New Manila area and features large cuts, bi-level apartments, kitchens with a service entrance, maids’ quarters with toilet and bath, and utility areas with open-air ventilation.

Units are fitted with top-of-the-line brands such as Canadian Kitchen cabinetry, SMEG kitchen appliances, and Kohler or Grohe bathroom fixtures.

For those who want to experience an outdoor respite, Sky Villa for example has a landscaped garden that offers the rejuvenating feeling of being in wide open spaces. The clubhouse has a swimming pool, fitness center, and a children’s playground to help build that spirit of community.

Read this article on Malaya PH: https://malayaph.com/news_special_feature/home-replacement-pioneer-eyes-more-projects/

With lockdowns in place, companies continue to create policies to allow their employees to work remotely. This means no long commutes, more time with their family, and flexibility in their work schedules. While this setup may have certain benefits, it also poses some challenges for many employees.

For folks who are working from home, it’s necessary to set up a dedicated home office space to help you transition smoothly. Here are a few tips on how to create a healthy and productive work-from-home environment.

Invest on a high-quality computer. A fast and reliable computer should be on top of your list. If you prefer using a laptop, make sure it can compete with the most efficient desktops. A light and sturdy laptop allow you the freedom to work anywhere in your home without chaining yourself to your desk.

 

Use a practical desk and ergonomic chair. A dedicated workspace can help shift your focus to work mode. Just make sure to keep your table clutter-free and organized. A comfortable chair can prevent back pain from long hours of hunching over your computer.

 

Set up a dedicated workspace. Choose a quiet area away from all the noise and traffic in your home. Natural lighting can improve your productivity and enhance your work environment.

 

Establish boundaries. Make sure everyone in your household respects your workspace and working hours. You can add some notes to remind them not to disturb you, especially when you are in a meeting. It’s always best to establish clear communication with your housemates to prevent distractions and disruptions in your workflow.

 

Transitioning to remote work can be challenging. Creating a positive work environment can significantly help you achieve success in your short or long-term remote work.

At SkyVillas and Skyline Premiere, we offer spacious living making it ideal for a work-from-home setup. For more information about our premium properties, visit our website at www.onebalete.com.ph.

 

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.

 

VIEW OR DOWNLOAD THE PDF FORMAT HERE

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.