Walking on air: state sale inflates Philippine property market

Article Abstract:

The Philippine govt's Jan 1995 sale of the Fort Bonifacio property in Manila has fueled a resurgence in the property market and doubled or tripled the value of both commercial and residential land. Furthermore, when the group led by Metro Pacific bid three times the minimum and 10 billion pesos more than its closest competitor, it left three other groups flush with cash and eager to develop projects. Many observers say the current boom is pure speculation, but developers point to overseas money, especially from a nervous Hong Kong.

Management, Manila, Philippines, Ayala Land Inc.

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Surf's up: Philippines hopes to turn Subic into tourist paradise

Article Abstract:

Filipino businessmen and developers are pinning their hopes for Subic Bay Free Port's commercial growth on its potential as a tourist attraction and vacation spot. It does have a lot to offer, and a host of projects are under way, including two competing, 1-billion-peso marina complexes, a fisherman's wharf, clusters of hotels, villas and condominiums, casinos, and more, set amid dramatic mountains, sparkling beaches and intimidating rainforest. Industrial projects are running out of space, but a tax haven could be coming.

Military bases, Remodeling and renovation, Resorts, Subic Bay Naval Base, Philippines

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No guts, no glory

Article Abstract:

Several new property tycoons are changing both Manila's skyline and the housing prospects of the Philippines' middle and lower classes. Manuel Villar, Andrew Tan, Robert John Sobrapena, and others have become peso billionaires through fine timing and shrewd sales and marketing skills. Most bought property when prices were low, and began by developing on others' land. Those building housing have targeted previously unserved markets and offered a slew of incentives such as free education and commuter services.

Real estate developers

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