I always read news about the Philippines. I feel the necessity to still know what’s happening there, given the fact that I am away. Gladly, there are websites where I find some valuable information from showbiz to politics to business. Here are some of the most interesting news I’ve read over the past days, weeks and months.
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The Lopez Center will finally be built. It will be the country’s tallest skyscraper, thus overshadowing the proud PBCom in Ayala. An IPO will be held soon to generate funds for the long awaited building. As the name speaks, it will be the headquarters of the Lopez Group. I just don’t know if ABS CBN will be transferred here… but I’m guessing that it won’t, since Rockwell is purely for corporate and residential towers.
Once it is built, the building will be a landmark for the Rockwell Center and for Makati City as well. The building was designed by SOM, the same designers of the Freedom Tower in New York… thus the resemblance in their looks. I just hope that Rockwell gets built first so New York will be tagged as copycat and not the other way around. Hehehe…
Click the links if you want to see what I mean. Sorry, I can’t still upload pics as my friendster account is still screwed up. Haayz.
Lopez Center, Makati City -> http://www.emporis.com/en/wm/bu/sh/?txt=lopez&id=100396
versus
Freedom Tower, New York City -> http://www.emporis.com/en/il/pc/?id=201521&aid=8&sro=1
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A lot of developments are going around the metro (Manila, that is). New condominium towers and skyscraper projects are being built in the Global City, Ortigas Center, Manila and of course the Makati CBD.
Two high-rises will soon change Ortigas’ skyline — St. Francis and One Corporate Center. One Corporate Center or OCC will be the country’s tallest office tower once finished. Well, at least it will hold the title for several years before it will relinquish its crown to Lopez Center at around 2010. Shucks! Saying 2010 feels sooo futuristically weird (is there ever such a word? Hahaha). I remember when I was a kid, cartoons or series depicting the future are always dated in the 20 something years, which seemed so far far away. But now we are living in this era. Anyway, back on topic.
St. Francis on the other hand is another flagship project of the Kwok Group, the owners of Shangri-la Properties. This will be their mid-range priced condos. Well, definitely mid-ranged when compared to their very posh Shang Grand Tower in Dela Rosa but relatively high-end when compared to the Citylands popping everywhere.
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Another exciting development in Makati is the redevelopment of Ayala Center. Greenbelt 5 will soon be finished. It will definitely be worth the visit when I spend my vacation in the Philippines. Aside from Greenbelt 5, Glorietta will be undergoing a major reno. As I’ve heard from the business grapevine, Glorietta 5 will first be built in the parking lot between Rustan’s and Intercontinental Hotel. All shops in Glorietta 1 will then transfer here to make way for the renos. Pretty exciting eh!
Oakwood is now named Ascott. Hmmm… I don’t know why the Ayalas did this, but it’s for the best, I suppose. Maybe they wanted to concentrate on real estate and not on hotel management. Speaking of real estate, they will soon be developing the Canlubang area in Laguna. Yey! After Santa Rosa, it will now be Canlubang. Haay, I hope they’ve included a bit of San Pedro in their Southern Luzon developments. If Binan has one Ayala mall, why can’t they do it to San Pedro?
Here is one of the best news in Ayala though. The Kingdom Hotels Inc. which owns the Fairmont and Raffles brand will be investing in Makati! The location will be where Park Square 2 and Anson’s are currently located. Park Square 2 and Anson’s will be transferring to the parking lot between Landmark and Shangri-la Hotel Makati. Ayala Center is definitely getting better and better!!! Given all the developments in the area, I think Landmark is due for a very much-needed revamp. It is now the only establishment in Ayala Center without the, as Randy Jackson puts it, "yo!" factor.
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The developments are not really confined inside the CBD or Ayala Center for that matter. Century Properties will start building one of their most ambitious projects — Century City. It will host office buildings and condominiums in the old International School lot in Makati. I am not sure though if it is in Kalayaan Avenue or somewhere else, because I always thought that the I.S. is in Magallanes Village.
Going northwards, the Sys and the Ayalas continue the battle for mall supremacy as the Northern part of Edsa is being redeveloped. SM North Edsa is expanding and is said that when finished will be larger than Mall of Asia! Hwoaaa!!! TriNoma (Triangle North of Makati) of the Ayalas will definitely give the Sys a run for their money. It is one of the major development projects in the "Triangles" Area in QC together with the soon-to-rise SSS Headquarters. I just don’t know though if TriNoma will be marketed for the A and B class, or will be a direct competition of SM or will encompass all classes. But it’s a good development really.
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The Philippines is again seeing boom in the real estate. I hope this won’t be a bubble that might lead to another financial crisis ala-1997. Well, I guess everyone has learned their lessons. Banks are now more conservative with their rates (at least the big ones) and have definitely more stringent credit reviews. Hahaha… Talk about Basel II and Credit risk!
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Now, let’s go really far from Manila. Let’s visit Iloilo. The city’s new International Airport will be transferred to Sta. Barbara. Yey, it will be closer to my pop’s hometown! That is why I want to invest (I’m trying to find a better term because “invest” seems to be a very expensive term, but I can’t think of anything at this moment) around the Sta. Barbara/Cabatuan area. Let’s see in the near future. =)
Because the old airport in Mandurriao will no longer be used, the city government has decided to auction it out. The 54-hectare area of the old airport is really a prime location. It is somehow out of the city proper, but I think it will be a very good location in this ever-expanding city. Hopefully, the developments here will also decongest Downtown Iloilo.
As of this writing, the bidding has been rescheduled to May 9. Five companies are bidding including the Sys, the Lopezes and the Ayalas. I hope the Ayalas will win, though the Lopezes will be a tough competition since they are a native clan of the city.
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We still can’t see what’s inside NAIA Terminal 3! Oh wait, that opener rhymes. Hahaha. I don’t know if we can ever use this airport. It was said that the light of the world will shine on this terminal on August this year, but according to the DOTC, repairs are still needed to be done. Let me just say this, the building has been there for almost five years, if you will not open it, it will just depreciate and rot without having any benefits gained from it. And from a cost-benefit point of view, the losers are the the Filipino people, because it was our taxes that paid for this damned terminal!
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A member of the US Peace Corps died in the Philippines, for reasons yet to be discovered. She took 2 years off her career as a journalist in the US to do volunteer work in the country. She’s been a teacher in one of the universities in the Bicol region and has once lived in Laguna. Her family is expecting her to be back in Virginia in six months time, since her assignment in the Philippines will be ending by then. Get to know Julia Campbell more in her blogspot account -> http://juliainthephilippines.blogspot.com/. I hope justice will be served to her.
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Want to know the latest buzz in Philippine showbizlandia? Hehehe… You guys in the Philippines might know more about this, but I’m sharing with you some of the snippets I know. You may just want to add some more in the comments section. =)
Kris finally gave birth to his son with cager James Yap. A Big Brother Swap took place this week between the Philippines and Slovenia. Gladys Guevarra and Janno Gibbs are in a rift…again. Rounin is finally showing in ABS CBN, while GMA opened Lupin. A new Piolo-Claudine starrer is being shown in the Kapamilya Network, while another Sunshine Dizon teledrama is in the pipeline on GMA. Judy Ann and Jolina join forces in the horror movie Ouija. And Regine celebrated her birthday last Sunday. Hehehe.
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Now, going back to Julia Campbell. Julia, you have really inspired me. You and your great stories made me realize what I wanted in life. My unending admiration goes to you. Thank you and may you rest in peace.