The new gold rush

Article Abstract:

Soaring property prices in Manila are creating new property magnates and encouraging rapid development that further boosts land value. Among the major players are William Gatchalian, Andrew Tan's Megaworld Properties, Ayala Land, Filinvest Land, and Fil-Estate Realty. Ayala's purchase of 214 hectares of the Fort Bonifacio area for 60,000 pesos per square meter led the market to raise prices for developed land as high as 250,000 pesos per sq m in prime areas. Developers remain enthusiastic, predicting new highs.

Real estate industry, Buildings and facilities, Philippines, Ayala Land Inc.

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Riding out the storm: Fort Bonifacio developers expect to stay afloat

Article Abstract:

First Pacific's major Fort Bonifacio real estate development in Manila covers a 214 hectare site and it is hoped to rival the new neighbouring Makati business district. Fort Bonifacio Development Corp is a joint venture controlled by First Pacific, and it has already sold off some of the development to individual developers, ensuring it has the liquidity to weather the problems of the Philippine property market.

Real estate developers, First Pacific Corp.

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