Oct. 5 (Bloomberg) -- Yishan Capital Partners Pte., a real estate asset manager, plans to raise $250 million next year to invest in properties across Southeast Asia.
The company, which has invested about $50 million in Indonesia and Cambodia, plans to start raising funds in the first quarter of next year, Managing Partner John van Oost said. Yishan will invest in residential buildings, shopping malls and industrial projects such as warehouses in countries including Singapore, Indonesia, Thailand, Vietnam and the Philippines, he said.
Read more:
http://www.businessweek.com/news/2012-10-04/yishan-capital-targets-250-million-for-asian-real-estate-fund
Read more
Real Estate Loans Surge 19%
Manila Bulletin
MANILA, Philippines — The country's large-capitalized banks and some big
thrift banks reported real estate exposures worth P561.6 billion as of
June, up 18.9 percent year-on-year and 4.4 percent higher from the previous
quarter ending in March, a ...
read more
See
all stories on this topic:
Read more
=== By: Daxim L. Lucas, Philippine Daily Inquirer ===
Lopez unit refinances debt
First Philippine Holdings Corp., the power and real estate holding firm of the Lopez family, has sealed a deal to refinance old, more expensive debt with fresh funds borrowed at lower rates.
In a disclosure to the Philippine Stock Exchange, FPH said it had issued floating rate notes worth P4.8 billion, which will mature in 2018.
“FPH is taking advantage of the improved bank appetite as well as debt market conditions by refinancing its dual currency floating rate notes maturing in 2012 and 2014, in order to extend loan maturity timetables and smoothen out repayment schedules,” the holding firm told the bourse.
The notes issue was arranged by BDO Capital and Investment Corp., which acted as its sole arranger, and several financial institutions consisting of Banco De Oro Unibank Inc., Maybank Philippines Inc., Rizal Commercial Banking Corp. and Union Bank of the Philippines.
The company explained that it effectively borrowed P4.8 billion under the new facility to repay in full the $36.6 million and the P3.2 billion outstanding principal of its 2007 dual currency floating rate notes.
“This new facility should provide FPH with more flexibility and allow the execution of identified strategic initiatives in possible growth opportunities such as indigenous power and property development,” the company said.
Approximately 88 percent of FPH’s revenues come from electricity sales through its First Gen Corp. unit. This amounted to P27.6 billion in the first half of 2011.
FPH also owns a 49-percent stake in property developer Rockwell Land Corp., which contributed P43 million in sales during the same six-month period.
The holding firm reported a net loss of P284 million in the first half, compared with profits of P24.9 billion in the same period last year, as the one-time gain from the sale of a stake in Manila Electric Co. last year bloated its previous year’s revenues.
Read more
Senator urges the Philippines to find Montco fugitive
phillyBurbs.com
As Montgomery County authorities and the FBI hunt down Upper Gwynedd's Janet M. Gitney, a fugitive believed to be somewhere in the Philippines, the international, high-profile case now has the attention of U.S. Sen. Bob Casey.
Casey (D, Pa.) wrote to Jose Cuisia, Filipino Ambassador to the United States this week, urging his government to assist Montgomery County law enforcement in finding the woman accused of stealing more than $100,000 from a stroke victim who was in her care.
Officials have also said that Gitney, 54, abandoned her ill father, leaving him alone in her home when she left the country last month. He has since died.
"What this suspect is accused of is appalling, and I urge the Filipino government to assist our police officers in tracking down this fugitive," Casey said in a press statement.
Read more
Korean developers on the rise in the Philippines
Asia Property Report
The state owned Clark Development Corporation (CDC) has recently signed a
lease agreement with a Korean real estate developer, called Koregon Villas
Inc, to build a US$49 million residential project in Pampanga, Philippines.
The units are being built ...
<
http://www.property-report.com/site/korean-developers-on-the-rise-in-the-philippines-16940>
See all stories on this topic:
<
http://news.google.com/news/story?ncl=http://www.property-report.com/site/korean-developers-on-the-rise-in-the-philippines-16940&hl=en&geo=us>
The state owned Clark Development Corporation (CDC) has recently signed a lease agreement with a Korean real estate developer, called Koregon Villas Inc, to build a US$49 million residential project in Pampanga, Philippines. The units are being built on an 11,223-square-meter area on J.Abad Santos Avenue and will boast recreational facilities, paved roads and other amenities. CDC president Felipe Antonio B Remello is looking forward to the project and what the Korean company can bring to the area,
“The project will employ some 100 workers during its construction phase and another 150 employees during its full operations” he said.
Koregon Villas Inc will be the second Korean developer to move into Pampanga, Philippines. Earlier this month Korean firm JM Star Clark started construction on a 17,190-square-meter area for its tourism and residential development called Le J Village according to Manila Bulletin Publishing Corporation.
Read more
