residential properties – Author Carlo Carrasco

Small groups from POGOs moving into residential areas

October 25, 2024October 16, 2024carlocarrasco

The nationwide ban on Philippine Offshore Gaming Operators (POGOs) is arguably working. That being said, the National Bureau of Investigation (NBI) stated that the POGOs have been forming smaller groups which have moved into residential areas to secretly operate, according to a GMA Network news report.

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

Philippine Offshore Gaming Operators (POGOs) appear to be trying to evade the authorities by forming smaller groups and setting up in residential areas, the National Bureau of Investigation said amid a raid on a group of alleged scammers.

In a report by John Consulta on 24 Oras on Tuesday, 17 foreigners were arrested in the raid on a residential unit in Makati City. They were caught at their workstations for alleged scamming activities, including love scams and crypto scams.

“Pag nakakuha sila ng pool of information, magko-conduct sila ng background investigation kung sino ang target nila. Pag nakita nila yung pattern, yung character, yung hobby, yung daily activities at the same time yung longings ng kanilang victims, ie-engage nila through social engineering,” said National Bureau of Investigation (NBI) Cybercrime Division Chief Jeremy Lotoc.

(When they get a pool of information, they will conduct a background investigation on their target. When they see the pattern, the character, the hobby, the daily activities, and at the same time the longings of their victims, they will engage through social engineering.)

“Merong hacker, merong buyer ng data. May nakita kaming program-coded script na pwede magamit to access other systems without the authority nor consent of the system owner we assume meron silang activity in terms of hacking,” Lotoc added.

(There is a hacker, and there is a buyer of data. We found a program-coded script that can be used to access other systems without the authority or consent of the system owner. We assume they have activity in terms of hacking.)

The National Bureau of Investigation (NBI) said they are from big Philippine Offshore Gaming Operator (POGO) companies.

“Yung malalaking POGO, nag-group sila into smaller group, nag-o-occupy ng residential units, apartments, para hindi mahalata na POGO, yun pa rin. To continue their scamming activities,” said NBI Director Jimmy Santiago.

(These big POGOs form smaller groups and occupy residential units so that they can’t be detected. Then they continue their scamming activities.)

The NBI is already examining the computers to obtain the details of their victims, while an inquest has already been conducted on those arrested and they are facing online fraud complaints and the violation of the Cybercrime Prevention Act.

Let me end this post by asking you readers: What is your reaction to this recent development? Are you concerned that there could be these small POGO-related units secretly operating within the residential communities near you? Has there been a raid in your local community in connection with POGOs, scamming and hacking?

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 athttps://www.instagram.com/authorcarlocarrasco

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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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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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

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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