shopping – Author Carlo Carrasco

Las Piñas City Government To Pursue Legal Action Versus Online Shopping Platforms Over The Selling Of Fake Friendship Route Stickers

March 5, 2026March 3, 2026carlocarrasco

In a serious move against the selling of fake friendship route stickers online, the City Government of Las Piñas that it will pursue legal action against three online shopping platforms that constantly made such items available to customers, according to a news report by the Manila Bulletin. The City Government reiterated that using fake friendship route stickers constitutes penalties.

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

The Las Piñas city government has intensified its crackdown on the illegal sale and use of counterfeit Friendship Route stickers and is preparing to pursue legal action against three online platforms.

Las Piñas City Mayor April Aguilar said the three online platforms were reportedly openly selling counterfeit Friendship Route stickers.

Aguilar stressed that legitimate Friendship Route stickers are distributed free of charge to residents of Las Piñas City.

She warned that selling or using fake stickers is a violation of City Ordinance No. 715-06 and may result in fines and possible imprisonment.

Under the ordinance, violators will be fined P500 for the first offense, P1,000 for the second offense, and P3,000 for succeeding offenses.

Those found violating other provisions of the ordinance may face a fine of up to P5,000 or imprisonment of up to six months, or both.

While the Manila Bulletin report did not mention the names of the online shopping platforms, the City Government’s official announcement explicitly mentioned Shopee, Lazada and Facebook Marketplace.

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? Did you notice that fake Las Piñas friendship route stickers have long been offered for sale in online shopping platforms with prices in the hundreds of Pesos each? Do you personally know anyone using a fake friendship route sticker while driving within the city? Do you hope that City Government’s move will compel the online shopping platforms to crack down on the sellers of the fake friendship route stickers?

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 engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Philippines Attracted 5.94 Million Foreign Tourists And 543K Overseas Filipinos In 2025

January 22, 2026January 22, 2026carlocarrasco

Finally, the Department of Tourism (DOT) revealed that 5.94 million foreign tourists and over 543,000 returning overseas Filipinos arrived in the Philippines in 2025 resulting in tourism revenue of P694 billion, according to a news release by the Philippine News Agency (PNA).

For insight, the Philippines attracted 5,940,975 foreign visitors in 2025 which is 8,375 less compared with 2024’s foreign visitors. Ultimately, the Philippines is still behind many of its Southeast Asian neighbors on international tourism for 2025.

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

The Philippines recorded 6.4 million foreign visitors and returning overseas Filipinos in 2025, generating an estimated PHP694 billion in tourism receipts, the Department of Tourism (DOT) said Tuesday.

Citing Bureau of Immigration data, the DOT said 5,940,975 were foreign visitors, including cruise passengers and categories not fully captured in eTravel.

Another 543,085 were returning overseas Filipinos, bringing total inbound arrivals to 6,484,060.

The DOT said preliminary international visitor spending was estimated at PHP694 billion.

While arrivals remain below pre-pandemic levels in 2019, the DOT said the outcome was achieved despite global and domestic challenges, including travel alerts from key markets and fiscal constraints.

The agency said tourism performance should not be measured by arrivals alone, citing strong domestic travel, value creation and job generation.

Guided by the National Tourism Development Plan 2023–2028, the DOT said it remains focused on improving connectivity, safety, workforce skills and service standards.

For insight as to why the Philippines is having a lot of trouble attracting visitors from abroad, watch the YouTube videos below.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you agree with the Department of Tourism’s claim that tourism performance should not be measured by arrivals alone while the Philippines keeps on falling behind its Southeast Asian neighbors that attracted a lot more foreign tourists? Do you think the DOT should examine closely how satisfied or dissatisfied foreign tourists really are before they leave the country? Are you tired of seeing the Philippines failing to hit its annual international tourist arrival targets?

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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Japan Achieves New Record-Highs On Foreign Visitor Arrivals And Related Revenue In 2025

January 21, 2026January 20, 2026carlocarrasco

2025 is officially a year of tremendous tourism breakthroughs for Japan as a record 42.7 million foreign visitors were counted along with more than US$60 billion in related revenue, according to a news article by Kyodo News.

Overtourism has been going on in Japan for some time now and it does not seem to be slowing down even though there was a sharp drop of tourists from Communist China which was the result of increased tensions between China and Japan. As a lot more foreign tourists explored Japan, local businesses benefited in different ways but overcrowding, increased littering and acts of bad behavior by foreigners were reported.

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

Foreign visitors to Japan reached a record estimated 42.7 million in 2025, the government said Tuesday, with their spending also at a new all-time high of 9.5 trillion yen ($60.1 billion), thanks to a weaker yen and increased flights to Japan.

The preliminary figures also showed, however, a 45 percent drop in Chinese tourists in the month of December from a year prior to 330,000, tourism minister Yasushi Kaneko told a press conference. The fall came as an ongoing row between Japan and China appears likely to weigh on inbound travel trends in 2026.

The decline in Chinese visitors was the first fall since January 2022 during the COVID-19 pandemic, the minister of land, infrastructure, transport and tourism said, adding the government is monitoring the situation around Chinese visitors.

Overall visitors surpassed 40 million for the first time, and the estimated total was around 6 million people higher than for 2024. Kaneko said Japan will “engage in strategic Japan tourism promotion” amid a diversifying inbound market, highlighted by rising arrivals from Australia, Europe and the United States.

Relations between Tokyo and Beijing have soured since Japanese Prime Minister Sanae Takaichi’s remarks in early November on a Taiwan contingency infuriated China.

The fallout has seen economic measures from China, including urging its people to refrain from visiting Japan, and some airlines reduced flights on Japan-China routes.

While the Japanese government has set a target of attracting 60 million foreign visitors a year by 2030, some popular sightseeing destinations are facing problems such as overcrowding and misbehavior by some tourists.

For added insight about tourism-related attractions, activities and trends in Japan, watch the Nippon TV videos below.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think Japan will be able to attract even more foreign tourists and be able to collect better revenues this year without China? If you plan to visit Japan this year, what is the purpose of the trip and where do you plan to visit?

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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Rockwell Land Acquires Majority Stake in Alabang Town Center For P21.6 Billion, Redevelopment To Follow

December 24, 2025December 23, 2025carlocarrasco

Wow, business developments happened really fast! Not so long after Ayala Land sold its 50% stake of Alabang Town Center (ATC) operator Alabang Commercial Center Corp. (ACCC) to the Madrigal family, Rockwell Land came in to acquire a majority stake in deal worth P21.6 billion and indeed there will be a redevelopment of the famous mall, according to a news report by BusinessWorld.

For the newcomers reading this, the ACCC is the private entity that owns and operates ATC. Rockwell Land is the corporation known for the Power Plant Mall and Rockwell Center in Makati City. The Philippine Star news report mentions the ATC operator in the new acquisition.

*The front of Alabang Town Center along Madrigal Avenue.*

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

Lopez Family-led real estate developer Rockwell Land Corp. has acquired a 74.8% stake in the 17.5-hectare Alabang Town Center for P21.6 billion, expanding its commercial operations in the south.

“Earlier this year, Mr. Francisco ‘Jun’ M. Bayot invited us to consider redeveloping Alabang Town Center. It presented a compelling opportunity for Rockwell Land to further expand our presence in the south of Metro Manila, particularly given the scale and long-term potential of the property,” said Rockwell Land Chief Executive Officer Nestor J. Padilla in a statement on Monday.

“We are very grateful to Mr. Bayot and the Madrigal family for this opportunity. Our immediate focus is on ensuring a smooth transition and planning its redevelopment,” he added.

Alabang Town Center currently hosts more than 500 retail and office tenants, and its size offers significant redevelopment opportunities, the company said. Rockwell Land is known for its flagship mixed-use development, Rockwell Center Makati, anchored by the Power Plant Mall.

“Over the years, the company has enhanced its retail developments by integrating experiential and lifestyle-oriented spaces into its master planning, supported by curated tenant mixes. These efforts have enabled Rockwell Land to establish a strong track record in delivering a high-end retail experience,” it said.

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, do you have any concerns about what would happen to Alabang Town Center under Rockwell’s control? Do you think the planned redevelopment of ATC will eventually make it better in the near future? What improvements do you hope to see at the ATC under Rockwell’s control?

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

Ayala Land To Sell Alabang Town Center (ATC) Stake To Madrigal Family For P13.5 Billion

December 20, 2025December 18, 2025carlocarrasco

A new age for the famous Alabang Town Center (ATC) in Muntinlupa City will soon begin as the developer Ayala Land Inc. (ALI) will sell its 50% stake in Alabang Commercial Center Corp. (ACCC) to the Madrigal family in a deal with P13.5 billion, according to a Manila Bulletin business news report.

For the newcomers reading this, the ACCC is the private entity that owns and operates ATC. Already, it has been reported that the Madrigal family is talking with Rockwell Land Corp. about redeveloping the high-end Alabang mall.

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

Ayala Land, Inc. (ALI) has agreed to sell its 50 percent stake in Alabang Commercial Center Corp. (ACCC), the entity that owns and operates the prominent Alabang Town Center mall in Muntinlupa City, back to the Madrigal family for ₱13.5 billion.

The real estate giant announced in a disclosure to the Philippine Stock Exchange that it executed a share purchase agreement with its existing joint-venture partner. The transaction is contingent on standard closing conditions.

“The unsolicited offer from our joint venture partner provided a premium, allowing ALI to recognize gains from the sale and monetize its stake in Alabang Town Center,” said ALI Chief Finance Officer and Treasurer Jose Eduardo A. Quimpo II.

He added that the “Proceeds from the sale will fuel further growth in our Leasing portfolio and provide our stakeholders with return of capital.”

In a separate statement, ALI said the deal allowed the company to realize “compelling value for the mature asset, crystallizing future earnings potential today.”

“This move is a deliberate execution of Ayala Land’s strategy to be a premier creator of value,” the company said. “It showcases a disciplined approach of developing assets, stabilizing their operations, and monetizing them at an optimal valuation to aggressively fund future growth and enhance shareholder returns.”

ALI President and Chief Executive Officer Meean B. Dy noted the firm’s strategic focus.

“Our strategy is focused on a dynamic cycle of value creation. We build, we stabilize, and we unlock value at the right time to fuel our next wave of innovation,” Dy said.

“This transaction is a prime example of that strategy in action. We are monetizing a legacy asset at peak valuation to accelerate the rollout of our expansive pipeline of commercial and retail spaces, which will define the Ayala brand of development for the next decade,” he added.

The proceeds from the sale are slated to be a key driver in funding ALI’s leasing pipeline, which includes nearly 700,000 square meters of new gross leasable area (GLA) over the next five years. This expansion is set to transform the commercial landscape in key growth centers across the Philippines.

Chinabank Capital Corp. Managing Director Juan Paolo Colet described the deal as “an opportunistic transaction that enabled Ayala Land to exit their joint venture with the Madrigal family at an attractive price. The company can readily use the cash for various projects in its growth pipeline.”

Colet noted that the future plans for the property remain uncertain.

“It remains to be seen what the Madrigal family will do with their prime commercial property. Given the price they paid, they would need to unlock more value from the asset. A major redevelopment might be on the table,” he said.

Situated adjacent to exclusive gated residential communities and active business developments, Alabang Town Center serves as a community anchor with multiple al fresco areas that contribute to a relaxed, homey atmosphere consistent with the local lifestyle.

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, do you think the P13.5 billion deal will lead to a major redevelopment of Alabang Town Center in the near future? If you have visited the ATC before, how often do you visit the high-end shopping mall in Alabang? Do you feel confident the ATC will evolve and possibly expand under the control of the Madrigal family and Rockwell Land? Does Alabang Town Center’s current design and structure look old or outdated to you?

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

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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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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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

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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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

SEC approves P6.26 billion deal between Filinvest Land and FILRT, Festival Mall ownership included in deal

June 5, 2025May 30, 2025carlocarrasco

Following the huge deal between Filinvest Land. Inc. (FLI) and Filinvest REIT Corporation (FILRT) and the deed of exchange signed by the two corporations over the ownership of Festival Mall, the Securities and Exchange Commission (SEC) officially approved the P6.26 billion deal putting it closer to completion, according to a Manila Bulletin business news report.

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

The Securities and Exchange Commission has approved the valuation of the ₱6.26 billion property of Filinvest Land Inc. to be acquired by Filinvest REIT Corporation (FILRT) via an asset-for-share swap, putting it a step closer to completion.

In a disclosure to the Philippine Stock Exchange, FILRT said it has received from the SEC the Certificate of Approval of Valuation for its property-for-share swap with FLI under which LI will transfer its ownership over the Festival Mall – Main Mall, consisting of a building and certain machinery and equipment in favor of FILRT.

Festival Mall-Main Mall which is located in Filinvest City, Alabang, Muntinlupa City, consists of a building with gross leasable area of 121,862 square meters.

In return, FILRT will issue to FLI 1.63 billion primary common FILRT shares at an issue price of ₱3.85 per share under the Memorandum of Agreement and the Deed of Exchange both dated March 5, 2025.

The Transaction Price was set at a 30 percent premium over FILRT’s 30-day volume-weighted average price of ₱2.94 per share, which is within the range of fair values provided for in FTI Consulting Philippines, Inc.’s Fairness Opinion.

FILRT’s Related-Party Transaction Committee and Board of Directors unanimously approved the Transaction at their special meeting on January 24, 2025, and it was subsequently approved by FILRT’s stockholders during their special meeting on March 4, 2025.

The acquisition of the Property will increase FILRT’s total gross leasable area by 37 percent to 452,310 sq.m. This likewise will improve occupancy from 83 percent to 88 percent and extend the weighted average lease expiry (WALE) from 7.3 to 14.6 years. This will also increase FLI’s equity in FILRT from 51.06 percent to 63.27 percent.

The Transaction allows FILRT to diversify its income sources by integrating retail mall properties into its portfolio. Prior to the infusion, 91 percent of the GLA of FILRT are office buildings.

Post infusion, the portfolio mix of FILRT will be 67 percent offices, six percent hospitality (Crimson Boracay lot) and 27 percent retail (Festival Main Mall).

The infusion of income-generating retail mall assets is expected to result in an increase in FILRT’s distributable income.

Let me end this post by asking you readers: What is your reaction to this recent development? With the approval of the SEC, do you think the big deal between FLI and FILRT will be beneficial not only for the parties and shareholders involved, but also for those who spend time and money at Festival Mall? Did you notice any trends or serious changes at Festival Mall since FILRT became the new owner?

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

Do you miss Fukuya Japanese Restaurant?

May 21, 2025May 15, 2025carlocarrasco

On April 30, 2025, Fukuya Japanese Restaurant inside Festival Mall closed down after having its final day of operations which saddened a lot of loyal customers. At 8:41 in morning of that same day, the restaurant announced via social media that they were going to close down which went as follows:

It is with a heavy heart that we are announcing our last day of operations today. We would like to thank our valued customers whom we consider a part of the Fukuya family for your patronage and support since we opened our doors in 1995. We truly cherish the memories we have of you and it is our pleasure to have served you. To our generations of patrons, thank you for your kind words and loyalty to Fukuya. You have made our journey all the more fulfilling. May God bless you all!

*I took this picture on May 1, 2025. This very spot Fukuya previously occupied has since been covered up.*

For the newcomers reading this, Fukuya Japanese Restaurant first opened at SM Southmall in Las Piñas City in the mid-1990s and my first time ever to eat at their place was in 1997. They eventually opened in Festival Mall in Alabang, Muntinlupa some years later and lasted there until April 30 this year. Be aware that a change of ownership of Festival Mall took place months ago which might be related to Fukuya’s closure.

Being fond of Japanese food, I can say that the demise of Fukuya Japanese Restaurant is very unfortunate. To be clear, the number of Japanese restaurants and other businesses selling certain types of Japanese food at Festival Mall has increased over the past several years. In fact, there are certain Japanese restaurants there that sold meals at notably higher prices when compared to similar offerings from Fukuya Japanese Restaurant. Clearly Fukuya had a lot of competitors at Festival Mall alone.

More on Fukuya, there are best known for the Hiroshima-style Okonomiyaki (read my old article by clicking here) which was always served freshly cooked, very flavorful and filling. I had their Okonomiyaki many times and always had a great taste backed with satisfaction. I also tried Okonomiyaki at other Japanese restaurants at Festival Mall but none of them ever came close to what Fukuya had.

Fukuya also served Futo Maki/Futomaki, Yakisoba, ramen, Bento meals, Tempura, sushi, sashimi, Teppanyaki, Udon, Soba and a lot more. They also had value meals to accommodate customers with limited funds.

*Fukuya Japanese Restaurant’s most famous meal is the Hiroshima-style Okonomiyaki.*

While the pandemic is over and the Philippine economy is growing, there are still a lot of internal and external economic forces that make operating businesses challenging. As for the rental fees of Festival Mall under the new owner, I heard allegations that the rates went up. Apart from Fukuya, I noticed a local printing and photocopying business there closed down recently, and I used to have documents photocopied there.

Now that Fukuya Japanese Restaurant is gone, customers who are looking for Japanese meals that are affordable will have to look elsewhere. As of this writing, Fukuya has not updated their Facebook page since April 30, 2025. While their FB page is still active, I can only wonder if the business owners could be planning a revival of Fukuya someday. You can visit their FB page by clicking https://www.facebook.com/FukuyaJapaneseRestaurantFestivalMall

*Do you miss this view from inside Fukuya at Festival Mall?*

For those of you reading this, let me ask you – were you fond of eating at Fukuya Japanese Restaurant? Did you enjoy their Hiroshima-style Okonomiyaki? How was the quality of the food they served you the last time you ate there? What do you think is the main reason behind the closure of Fukuya Japanese Restaurant?

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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