real estate – Author Carlo Carrasco

Festival Mall acquisition boosts FILRT growth and portfolio size

August 17, 2025August 8, 2025carlocarrasco

Remember when Filinvest REIT Corp. (FILRT) acquired Festival Mall for P6.26 billion months ago? Already the premier Alabang shopping mall has boosted the earnings and portfolio size of FILRT, according to a business news report by the Manila Bulletin.

For the newcomers reading this, read my previous posts about Festival Mall (which first opened in May 1998) and FILRT by clicking here, here and here. FILRT meanwhile is reputed for being one of the top taxpayers in Muntinlupa City.

To put things in perspective, posted below is the excerpt from the news report of Manila Bulletin. Some parts in boldface…

Filinvest REIT Corp., the real estate investment trust of the Gotianun Group, declared ₱404 million in fresh dividends after reporting an 8.3 percent growth in net income to ₱651 million in the first six months of 2025 from ₱601 million in the same period last year.

The firm disclosed to the Philippine Stock Exchange that, for the first half of the year, it recorded revenues of ₱1.57 billion, higher by 13 percent from the same period in 2024, resulting from improvements in operations and the addition of Festival Main Mall to the portfolio.

Meanwhile, costs and expenses were contained at ₱613 million, higher by one percent, while other charges were lower by four percent to ₱187 million.

Festival Main Mall started accruing to the revenue stream of FILRT beginning May 29, 2025, equivalent to one month and three days’ revenue contribution.

The addition of Festival Main Mall is seen to improve FILRT’s earnings per share by 5.5 percent in 2025. With the additional asset, FILRT’s portfolio size increased by 37 percent in terms of GLA to 452,310 square meters.

“We are pleased to have infused a value-adding asset into our portfolio through Festival Main Mall. Having this momentum, we look forward to adding more assets and diversifying our tenant base to further the growth of the company,” said FILRT President and CEO Maricel Brion-Lirio.

The company’s portfolio of 17 office buildings, one mall, and one resort lot totaling 452,310 square meters had an occupancy of 86 percent at the end of the first half of 2025, an improvement of five percentage points from 81 percent in June last year.

The current overall tenant mix is comprised of 60 percent offices, 32 percent retail, and the balance for hospitality. Of the offices segment, 84 percent are multinational BPO companies while 16 percent are traditional.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think FILRT will somehow improve the quality of Festival Mall in terms of structure and tenants? Was it a surprise that Festival Mall boosted the earnings of FILRT this early?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

PLDT Moving Headquarters to Filinvest City

July 5, 2025October 22, 2025carlocarrasco

In relation to the Filinvest Group’s strong confidence with its Alabang central business district (CBD), it has been revealed that telecommunication giant PLDT will relocate its headquarters to the Southgate District of Filinvest City in Alabang, according to a Manila Bulletin news report.

For the newcomers reading this, Filinvest City is located within the Alabang area of Muntinlupa, and it is connected with both the South Luzon Expressway (SLEX) and the Metro Manila Skyway (which itself is connected to the NAIA Expressway and the North Luzon Expressway) which makes travel connectivity convenient. PLDT itself has its current headquarters in Makati City which has lasted for decades. This new development with Filinvest City adds potential business value to Alabang. It should be noted that Filinvest City also has its own local residents.

To put things in perspective, posted below is the excerpt from the news report of Manila Bulletin. Some parts in boldface…

Filinvest City, the premier township developed by the Filinvest Group, is poised for a transformation with the announcement that PLDT Inc., the nation’s largest integrated telecommunications company, will relocate its headquarters to the Southgate District of Filinvest City.

This strategic move, which involves the development of the country’s first tech campus, signals a game-changing moment for the Garden City, paving the way for a smarter, greener, and more connected urban landscape in Metro South.

The decision to move was revealed in a press statement from Filinvest City, noting that PLDT’s choice of Filinvest City followed years of careful study and strategic planning.

The planned five-hectare PLDT campus, envisioned as the future headquarters for the telecommunications group, is slated for progressive development, with initial phases expected to commence soon.

The project draws inspiration from leading global tech campuses and reflects PLDT’s long-term commitment to fostering an innovative and future-ready workplace.

This campus is part of our effort to build a healthier, more collaborative work environment, said PLDT Chairman and CEO Manuel V Pangilinan. He added that it reflects our belief that the workplace must evolve alongside the industries we serve. We hope it will inspire creativity, encourage teamwork, and support the future of PLDT.

The tech campus is designed not only as a headquarters but also as a hub for innovation, collaboration, and digital transformation, aiming to consolidate talent and technology to cultivate a culture of agility and forward-thinking.

This aligns with PLDT’s dedication to shaping the future of connectivity in the Philippines. The development is projected to create thousands of jobs during both construction and operational phases, boosting demand for residential and commercial spaces and supporting local businesses and startups.

It is also expected to attract professionals and innovators to Metro South, reinforcing Filinvest City’s role as a nexus for future-forward enterprises.

Josephine Gotianun-Yap, Vice Chairperson, Filinvest Development Corporation, noted the transformation of Filinvest City from a quiet stock farm into a vibrant garden metropolis, stating that this was achieved through vision, dedication, and a steadfast sense of purpose. She also said, Filinvest City was designed with intention: to foster an environment where businesses thrive, innovation flourishes, and people live well. We believe a great city is not simply a backdrop to success—but a catalyst for it.” She further added that Filinvest remains committed to continued growth and meaningful collaboration, especially with PLDT, as it pursues its mission to empower Filipinos through meaningful connections, digital inclusion, and sustainable progress.

This landmark project reinforces Filinvest City’s commitment to sustainable and integrated urban planning. As the country’s only central business district holding both LEED Gold and BERDE certifications, Filinvest City is recognized for its green building standards and environmentally responsible design. The city’s master plan embraces the live-work-play philosophy, ensuring a holistic urban experience for its residents, workers, and visitors.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think PLDT’s upcoming headquarters in Alabang will create many new jobs and add value to Filinvest City as business and investment destination? Do you think this new development will influence other major corporations to consider establishing new headquarters in Alabang? Do you consider Muntinlupa City a more competitive highly urbanized city (HUC) in relation with PLDT’s upcoming Alabang headquarters?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Filinvest Group still optimistic with Alabang central business district

June 29, 2025October 22, 2025carlocarrasco

Even though there are emerging rivals that each have distinctive attractions for businesses and residents, the Filinvest group remains confident and optimistic with its 244-hectare Filinvest City in Alabang, Muntinlupa, according to a business article by BusinessWorld. This is about the current state of corporate cities or central business districts (CBDs) which are contributing a lot to the economy of the Philippines in terms of financial value, jobs, properties and new residential communities.

For the newcomers reading this, Filinvest City is located within the Alabang area of Muntinlupa City, and it is connected with both the South Luzon Expressway (SLEX) and the Metro Manila Skyway (which itself is connected to the NAIA Expressway and the North Luzon Expressway) which makes travel connectivity convenient.

To put things in perspective, posted below is the excerpt from the business article of BusinessWorld. Some parts in boldface…

THE FILINVEST group is banking on unsold inventory and infrastructure readiness at its 244-hectare Filinvest City in Alabang, Muntinlupa to support growth in its township portfolio, as new large-scale developments emerge in Metro Manila and nearby provinces.

Catherine A. Ilagan, president and chief executive officer of Filinvest Alabang, Inc. (FAI), said Filinvest City continues to attract interest from businesses and residents, even as estates such as the 3,500-hectare Villar City, the 700-hectare Vermosa in Cavite, and the 74-hectare Arca South in Taguig expand their footprints.

“We’re the most developed. We have the essentials to back it up. We have the infrastructure and all of the utilities. All of that are already in place. Accessibility is also key. We also have access to talent,” Ms. Ilagan said in an interview with BusinessWorld.

“It takes a long time to develop into a real central business district (CBD),” she added.

FAI is the real estate arm of the Filinvest group, overseeing townships and high-end residential developments.

“In terms of densifying, there’s still a lot of potential for Filinvest City. The outlook for Filinvest City is really positive,” Ms. Ilagan said.

“The release of inventory is very deliberate,” she added.

According to a regulatory filing by the Filinvest group’s listed conglomerate, Filinvest Development Corp. (FDC), FAI beneficially owns 76.4 hectares of unsold lots in Filinvest City as of end-2024, indicating further growth capacity.

Launched in 1995, Filinvest City is a mixed-use township that integrates a CBD, residential communities, leisure destinations, educational institutions, and medical and wellness centers.

It is the country’s only CBD to hold both Leadership in Energy and Environmental Design (LEED) and Building for Ecologically Responsive Design Excellence (BERDE) certifications.

“The LEED and BERDE certifications are testaments to Filinvest City being a green development,” Ms. Ilagan said.

Filinvest City’s sustainability features include a district cooling system that reduces energy use and emissions by servicing multiple buildings, an integrated electric-powered transport system known as the 360 Eco-Loop, and dedicated green spaces and sustainable buildings in Northgate Cyberzone.

Under Ms. Ilagan’s leadership, FAI is replicating the Filinvest City model in other areas as it grows its portfolio of master-planned, sustainable townships and premium real estate developments under the Filigree brand.

Ms. Ilagan brings more than 30 years of experience in real estate and urban development.

“Filinvest City is a ten-minute city. Everything can be reached in ten minutes. This is the DNA that we want to replicate in the other townships,” Ms. Ilagan said.

“We’ve always subscribed to the idea of a balanced live-work-play. That’s the DNA of all of our townships, a well-rounded and balanced development,” she added.

Other FAI-led townships include the 58-hectare City di Mare in Cebu, the 201-hectare Filinvest Mimosa Plus in Clark, Pampanga, the 288-hectare Filinvest New Clark City in Tarlac, and the 677-hectare Timberland Heights in Rizal.

“Whether it’s a small development, a bigger development, a high development, or a denser development, there should always be that balance of live-work-play components. As a real estate developer, that is the sustainable way to do things. Now, we want everything to be walkable,” Ms. Ilagan said.

Let me end this post by asking you readers: What is your reaction to this recent development? What do you think that Villar City, Arca South and Vermosa don’t have when compared with Filinvest City? If you are developing properties, do you find Filinvest City advantageous and attractive for your business needs?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Building owners in Parañaque City who allow illegal POGO operations will be held accountable

February 25, 2025February 24, 2025carlocarrasco

In relation with the big raid on an office build in Parañaque City that resulted in the apprehension of hundreds of suspects, building owners in the city will have avoid Philippine Offshore Gaming Operators (POGOs) as the Presidential Anti-Organized Crime Commission (PAOCC) announced it is eyeing the filing of criminal cases against the owner of the building that was the site of the said raid, according to a news article by the Philippine News Agency (PNA).

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

The Presidential Anti-Organized Crime Commission (PAOCC) is eyeing the filing of criminal cases against the owner of the building in Parañaque City that was recently raided after the reported operation of an illegal Philippine offshore gaming operator (POGO).

At the regular Saturday News Forum in Quezon City, PAOCC director and spokesperson Winston Casio said the PAOCC would also seek the forfeiture of the whole building allegedly used by the Dan Ying Gaming Corp. where POGO workers have been operating for two years.

“Obviously, we will move for the criminal and civil forfeiture of the whole building sapagkat ‘yung operation noong POGO ay nasa (because the POGO operations were on the) fourth, fifth, sixth, and seventh (floors),” Casio said, adding that a security agency also mans the building.

“So, may kakaharaping malaking problema ang may-ari ng building sa kaniyang pagpayag na magamit ang kaniyang building bilang POGO hub (So, the building owner will face a big problem in allowing his building to be used as a POGO hub).”

He said the building owner may also face a human trafficking case for “knowingly renting out his facility to POGO operations for the past several months.”

The owner, he said, apparently ignored the “red flags,” including the questionable PHP20 million monthly lease payment.

“Nakita naman nila ang red flag. Maraming foreigners coming in and out doon sa building. Nakita naman siguro nila na maraming computers (They must have seen the red flags. Many foreigners were coming in and out of the building. They probably saw that there were many computers). All of those are red flags already but they did not fulfill their social responsibility,” he said.

A total of 435 POGO workers, including 148 foreign nationals, were arrested during a raid on the Chinese-run POGO hub inside the ATI building in front of the Parañaque Integrated Terminal Exchange on Thursday night.

About 136 Chinese nationals, five Vietnamese, three Malaysians, two Thais, a Taiwanese, and an Indonesian were among those taken into custody, Casio said.

Casio said the Dan Ying Gaming Corp. is allegedly owned by a “well-known” Filipino-Chinese businessman.

Let me end this post by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, are you concerned that there could still be a lot more illegal POGOs operating inside many buildings all across the city? Do you consider the Bay Area of Parañaque a potential hot spot of illegal POGOs secretly operating inside office buildings? Do you think that money generated by POGOs and sourced from illegal activities online are fuelling Parañaque’s economy significantly? Does this influence the way you plan to vote in the local elections of Parañaque this May?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Residents of Las Piñas City urged to avail of discounts by paying real property taxes (RPT) early

December 8, 2024December 4, 2024carlocarrasco

Recently in the City of Las Piñas, residents who own properties were advised to take advantage of discounts offered to them when paying their respective real property taxes (RPT) early enough starting this month, according to a Manila Times news report.

To put things in perspective, posted below is an excerpt from new report the Manila Times. Some parts in boldface…

Real property owners in Las Piñas City are reminded to settle their real property taxes early and take advantage of discounts offered for prompt payment in 2025.

Las Piñas Councilor Mark Anthony Santos announced that the advance tax payment period runs until Dec. 15, 2024. Taxpayers who settle their dues by this date will receive a 20 percent discount. Payments made from December 16 to 31 will qualify for a 16 percent discount, while payments completed between Jan. 1 and 31, 2025, will be granted a 10 percent discount.

To be eligible for these discounts, taxpayers must pay their taxes for the entire year and ensure there are no outstanding delinquencies, Santos emphasized.

He said failure to pay on time would result in penalties. A 10 percent surcharge will be applied to delinquent payments, along with a one-time administrative fee for late second installment payments. As stipulated in Sections 260 and 263 of Republic Act 7160, the Local Government Code of 1991, unpaid taxes could lead to further actions, including the auctioning of delinquent properties.

“If the real property tax is not paid, the city government will avail of remedies through administrative action or judicial proceedings,” Santos warned.

The city treasurer’s office also reminded new property owners to update their records at the city assessor’s office to ensure they receive official notices and avoid tax issues.

Let me end this piece by asking you readers: If you are a resident of Las Piñas City, what is your reaction to this development? If you are a local property owner, are you ready to settle your real property tax with the City Government this month? Are the discounts for early payments enticing enough to you? How many property owners in your local community are aware of the discounts offered?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Further rate cuts by BSP could boost demand for condominium units and new residential projects in Metro Manila

October 18, 2024October 10, 2024carlocarrasco

Here in Metro Manila, there is currently an oversupply of condominium units. Further rate cuts by the Bangko Sentral ng Pilipinas (BSP) could boost demand for existing condominium units and also new residential projects within the metropolis, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the BusinessWorld report. Some parts in boldface…

FURTHER RATE CUTS by the Philippine central bank could help spur new residential project launches and drive take-up of existing condominiums in Metro Manila, a property consultant said.

In its third-quarter property market report, Leechiu Property Consultants (LPC) said the inventory level of condominium units in Metro Manila has reached 67,600 units across 510 buildings — “the highest since the pandemic.”

“It’s an oversupply of the buildings in the market at 29 months’ supply. (Developers) have been slowly launching new projects,” LPC Research Director Roy Amado Golez said at a briefing on Oct. 8.

Quezon City and Ortigas (plus fringe areas) have the most number of unsold condominium units at 18,000 and 13,500, respectively.

High interest rates may have dampened demand for residential condominiums in Metro Manila. LPC said 6,885 units were sold in the July-to-September period, “close to the 7,000 level for the third straight quarter.”

The Bangko Sentral ng Pilipinas (BSP) had kept its policy rate at an over 17-year high of 6.5% from October 2023 to mid-August 2024. It reduced the benchmark rate to 6.25% at its Aug. 15 meeting.

“The interest rate levels today are still at elevated levels, at 6.25%. However, we’ll be likely seeing rate cuts in October as well as December. Hopefully, those rate cuts will boost… the residential market,” Mr. Golez said.

BSP Governor Eli M. Remolona, Jr. earlier signaled the Monetary Board could deliver two 25-basis-point (bp) rate cuts at each of its two remaining meetings this year.

LPC said rate cuts would help ease lending conditions for both developers and homebuyers, as well as encourage developers to launch new projects.

Muted demand may have prompted developers to defer new residential projects. New project launches plunged by 39% to 2,145 units in the quarter ending September, which LPC said was the lowest since the pandemic.

“What developers are most likely doing now is reselling or re-launching or reintroducing marketing programs for their current inventory,” Mr. Golez said, adding that lower interest rates may provide a lift to sales in the next few quarters.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the BSP should reduce the rates soon so that the residential market of Metro Manila will be reinvigorated? Are there any families in your local community who intend to buy a condominium unit and live in it?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

FOR LEASE – A Spacious Condominium Unit at The Mondrian Residences in Filinvest City, Alabang

September 15, 2024October 22, 2025carlocarrasco

If you are looking for a spacious, furnished condominium within Alabang, we have one of 6 units only at the upper floor of The Mondrian Residences in Filinvest City available for lease. The Mondrian Residences is located at 5321 East Asia Drive, Filinvest City, Muntinlupa City.

*The Mondrian Residences up close.* *Its building is very visible for those traveling along Commerce Avenue in Filinvest City.*

At 93 sqm, it has one large bedroom, 3 bathrooms, living room with sofa, chairs and tables, kitchen with cooking equipment, one basement parking slot and 2 terraces overlooking Commercenter, Westgate and Alabang Town Center.

Residential facilities of The Mondrian Residences include a jacuzzi, a fitness center, function rooms, owners’ lounge, passengers’ elevators and service elevators. 24/7 security service, reception service, building maintenance and valet service are guaranteed. If you own a car, you can avail of the dedicated basement parking space that goes with the unit.

*The Master’s Bedroom with indoor aircon, a balcony and view outside.*

*The living room with enough space for dining.*

*The view from the terrace of the unit.*

*The kitchen with refrigerator, microwave, toaster oven and cooking unit. At left is the main door.*

*The Mondrian Residences at night time.*

The Mondrian Residences is strategically located in close proximity to office buildings, restaurants, hotels, coffee shops, banks, ATMs, the Filinvest City Central Park, movie theaters, shopping malls, gas stations, convenience stores, car dealers and groceries. This means that living in the unit is convenient for your job, your needs and your lifestyle.

Living at the The Mondrian Residences is peaceful as crime rarely happens in Filinvest City. At the same time, Filinvest City is a popular destination for fitness buffs and people who enjoy the open air surroundings with trees.

If you are interested to visit and see the unit, please send me a private message or call me at 09053350831.

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For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

P25 billion worth of residential projects planned by Filinvest Land, Inc. (FLI) this year

May 2, 2024April 22, 2024carlocarrasco

Filinvest Land, Inc. (FLI) will continue to be aggressive with property development as they recently announced they will introduce this year more residential projects worth an estimated P25 billion located in different parts of the country, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the BusinessWorld news report. Some parts in boldface…

GOTIANUN-LED property developer Filinvest Land, Inc. (FLI) has announced plans to introduce residential projects worth P25 billion this year.

“(We) aim to optimize our land bank and sustain our strong market presence in cities where we are already present,” FLI President and Chief Executive Officer Tristaneil D. Las Marias said during the company’s virtual annual stockholders meeting on Friday last week.

Some of the residential projects eyed to be launched this year are located in Cavite, he added. These include the company’s first mid-rise condominium project in Bacoor, as well as new developments for its 94-hectare The Wood Estates residential township in Trece Martires.

“We will upgrade our Wood Estates… with commercial shops, transport terminals, and affordable low-rise condo developments,” he said.

Mr. Las Marias also announced that FLI will launch the 11.4-hectare Iloilo Centrale residential township in Leganes, Iloilo, which will include supermarkets, daycare centers, public transport terminals, a park, and a football field.

“Iloilo Centrale will also offer our first walk-up project which will provide very affordable condo units located in a complete residential setting that provides social spaces, outdoor sports, activity event areas, and modern amenities at very affordable prices,” he said.

“We have also kept a balanced geographical portfolio for our residential business by exploiting residential business opportunities in key cities in Visayas and Mindanao,” he added.

He said that FLI will open several mid-rise condo buildings in Dumaguete, Zamboanga, and General Santos.

The company also plans to launch taller condo buildings in Cebu and Davao to “match the growing market potentials in these highly urbanized cities and optimize land bank values.”

“We have also seen the huge unserved demand in housing. We plan to continue to offer affordable housing projects in Rizal, Cavite, Laguna, Bataan, Zamboanga, and other second class cities in Visayas and Mindanao with the intent to make housing accessible to as much government and private workers within the mass market income bracket and help more Filipinos build their dream,” he said.

FLI is also planning to complete nine additional ready-built factories at its Filinvest Innovation Park in the next two years. The planned factories will span 12,500 square meters each.

Last month, FLI completed the turnover of a ready-built factory to StB GIGA for the production of lithium iron phosphate batteries.

The Filinvest Innovation Park is within the Filinvest New Clark City mixed-use township, which is part of the 9,450-hectare New Clark City development in Capas, Tarlac.

“We also have about 55 hectares of land available for long-term lease already built at the moment,” he said.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the planned residential projects of FLI will make positive socio-economic impact in the mentioned locations around the country? Do you think there is good demand for new homes around the country?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Another tall residential tower to rise soon in Alabang

February 23, 2024February 15, 2024carlocarrasco

With a growing Philippine economy in this post-pandemic age, the future of progress in Alabang looks a bit brighter as a new tall residential tower in Filinvest City had its symbolic groundbreaking ceremony and construction will follow, according to a Malaya Business Insight news article.

To put things in perspective, posted below is an excerpt from the Malaya Business Insight article. Some parts in boldface…

1001 Parkway Residences by luxury real estate brand Filigree recently held its groundbreaking ceremony signaling that the construction is well underway.

The excavation works were in full swing in fourth quarter of 2023, while the first pouring is all set to happen in the first quarter of 2024.

“With the recent groundbreaking milestone, future residents of 1001 can look forward to all the benefits of high rise living in a cosmopolitan neighborhood. It is a premium address not only because it is an iconic building located right along the Millionaire’s Row of Filinvest City but also because it perfectly marries two highly sought-after worlds,” said Daphne Sanchez, Filinvest Alabang Inc. senior vice president for residentials & estates

Once completed, 1001 Parkway Residences will be the tallest residential tower in Alabang – an architectural statement that will stand out amidst Filinvest City’s skyline and expansive park system, seamlessly blending beauty and functionality. This will reflect within the property’s interiors and carefully thought out amenities that highlight understated elegance.

*The location of 1001 Parkway Residences in Filinvest City.*

Residents will get to experience a complete live-work-play concept, starting from 1001 Parkway’s common amenities that foster a healthy lifestyle and community synergy.

In the privacy of the residents’ spaces, the integration of beauty and functionality is incorporated in the design to promote a healthier environment. Every unit comes with a balcony so they can enjoy the outdoors within the comfort of their own spaces. Meanwhile, the living and bedroom areas are built with windows to allow ample amount of natural light and ventilation. 1001 Parkway Residences also offers garden units that offer picturesque views of the future Creekside Park.

Completing an exceptional and healthy living experience at 1001 Parkway Residences is its location in Filinvest City, the country’s first LEED (Leadership in Energy and Environmental Design) Gold-certified central business district.

Located on Millionaire’s Row at Spectrum, considered Filinvest City’s most premium district, residents will have convenient access to all of the essential establishments – from commercial centers and shops to leisure venues and parks – all a stone’s throw away from each other, allowing its future residents to walk from one establishment to another.

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, are you delighted that another tall residential tower will open with Filinvest City? Do you know anyone with a lot of money who happens to be looking for a new residence or looking for a new investment opportunity?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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VAT exemption in sale of residential properties hiked to P3.6 million

January 20, 2024January 17, 2024carlocarrasco

Those of you who own residential properties should be aware that the Bureau of Internal Revenue (BIR) formally announced that it has hiked the value-added tax (VAT) exemption in the sale of residential properties to P3.6 million (over P400,000 higher than previous), according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the news article of the PNA. Some parts in boldface…

The Bureau of Internal Revenue (BIR) has increased the threshold for value-added tax (VAT) exemption for the sale of house and lot as well as other residential dwellings from nearly PHP3.2 million to PHP3.6 million.

This, as BIR Commissioner Romeo Lumagui Jr. has issued Revenue Regulations 1-2024, compliant with Section 109 (P) of the National Internal Revenue Code.

The adjustment reflected the commitment to align the threshold with present values every three years using the consumer price index as published by the Philippine Statistics Authority.

“This timely increase in VAT exemption shows our commitment to Excellent Taxpayer Service. This increase in the selling price threshold, for VAT exemption purposes, of the sale of house and lot, and other residential dwelling from PHP3,199,200 to PHP3,600,000 gives testament to the BIR’s improved and updated services,” Lumagui said.

The BIR said its focus on Excellent Taxpayer Service aligns with President Ferdinand R. Marcos Jr.’s recent signing of the Ease of Paying Taxes Act.

The enactment of the legislation pushes for a modernized tax system, aiming to assist taxpayers in fulfilling their obligations, Lumagui said.

Let me end this piece by asking you readers: What is your reaction to this recent development? If you are a property owner, does the BIR’s act affect you? Do you think the raised VAT exemption will make a strong impact on many residential properties?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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