corporate

AboitizPower enters int'l RE market, acquires Vietnam wind power facility

August 24, 2019

The Dam Nai Wind facility, located in Ninh Thuan Province, Southern Vietnam, is among the first successful wind power projects in the country. AboitizPower, through its wholly owned subsidiary AboitizPower International, announced today that it has signed a share purchase agreement for the acquisition of 100% ownership of Mekong Wind Pte. Ltd. (“Mekong Wind”) from Armstrong Southeast Asia Clean Energy Fund Pte. Ltd. The acquisition is subject to customary closing conditions and is expected to complete in the fourth quarter of 2019. The acquisition captures all legal and economic interest in Mekong Wind, which in turn holds a 99.9999934% direct interest in Dam Nai Wind Power JSC (“Dam Nai Wind”). Dam Nai Wind owns and operates the 39.4-megawatt (MW) onshore wind power facility in Ninh Thuan Province, Southern Vietnam. Ninh Thuan Province boasts some of the most attractive sites for wind energy in the country. The total purchase consideration payable for the acquisition of Mekong Wind is approximately USD 46 million which may be subject to certain closing adjustments.   Dam Nai Wind is one of the first wind power projects in Vietnam to have been successfully brought online with commercial operations having commenced in late 2017.  The transaction builds on AboitizPower’s investments in the rapid growth of renewable energy and marks its entry into one of Asia’s most attractive markets. Vietnam, with its robust economic growth backed by strong government support, creates an attractive environment for AboitizPower to increase its commitment and contribution to energy supply security in Southeast Asia through its wide experience and expertise in the power sector. “This transaction is a milestone for AboitizPower and sets the tone for our expansion in the international market. We have announced our intentions to go international some time back and we have been prudent in looking for the right opportunity that will bring the best value for the company and our shareholders. This is such a transaction,” AboitizPower President and Chief Executive Officer Erramon I. Aboitiz said. “We are excited for this opportunity not only to expand beyond the Philippines but to also bring our experience in the power generation sector, especially in the renewable energy space, to Vietnam. We are proud of what we have done with our Cleanergy brand in the Philippines and we will bring the same level of expertise and dedication to the Vietnam market,” AboitizPower Chief Operating Officer Emmanuel V. Rubio added. AboitizPower, together with its partners, generates some 1,200 MW of clean and renewable energy from its portfolio of hydro, geothermal, and solar power plants, forming its Cleanergy brand.

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CEB launches Cebu-Busuanga route 

August 23, 2019

Fares offered as low as PHP299 The Philippines’ leading airline, Cebu Pacific (PSE: CEB), strengthens its Cebu hub network with the launch of direct flights to Busuanga (Coron). Starting October 27, 2019, CEB’s wholly owned subsidiary, Cebgo, will be flying twice daily between Cebu and Busuanga. The first flight departs Mactan Cebu International Airport at 7:25am, and arrives in Francisco B. Reyes Airport at 9:00am; while its return flight leaves Busuanga at 9:20am and arrives in Cebu at 11:00am. The second flight leaves Cebu at 10:25am, and lands in Busuanga at 12:05pm; while its turnaround flight departs at 12:25pm and arrives at 2:10pm.   “We believe that these twice daily flights will enable residents from Cebu and other parts of Visayas and Mindanao to explore Palawan, without having to make the trip to Metro Manila to catch their flights. With this direct Cebu-Busuanga route, the islands of Coron and Culion are easier to get to. This will also allow locals from the rest of Southern Luzon to easily connect to Cebu and its network of over 20 domestic and six (6) international destinations,” said Alexander Lao, Cebgo President and CEO. CEB is offering seats for as low as PHP299, base fare, from today until August 17, 2019, or until seats last. Travel period is from October 27, 2019 to March 28, 2020.              Aside from Cebu, CEB also operates flights out of six other strategically placed hubs in the Philippines: Manila, Clark, Kalibo, Iloilo, Davao and Cagayan de Oro. The airline’s extensive network covers over 100 routes and 64 destinations, spanning Asia, Australia, the Middle East, and USA. For bookings and inquiries, guests can visit www.cebupacificair.com or call the reservation hotlines (+632)7020-888 or (+6332)230-8888. The latest seat sales can be found on CEB’s official Twitter (@CebuPacificAir) and Facebook pages. Guests may also download the Cebu Pacific official mobile app on the App Store and Google Play.   About Cebu Air Inc. (PSE: CEB) Cebu Air Inc., operating as Cebu Pacific, is the largest carrier in the Philippine air transportation industry, offering its low-cost services to more destinations and routes with higher flight frequency within the Philippines than any other airline. CEB and subsidiary Cebgo fly to 37 domestic and 27 international destinations, with over 100 routes spanning Asia, Australia, the Middle East, and USA. The Cebu Pacific fleet is comprised of 2 Airbus A321NEO, two Airbus A320NEO, 33 Airbus A320, seven (7) Airbus A321CEO, eight (8) Airbus A330, eight (8) ATR 72-500, and 13 ATR 72-600 aircraft. The ATR aircraft are used by Cebgo for inter-island flights where jet operations are not possible. CEB boasts of one of the youngest fleets in the world, with an average fleet age of five (5) years. Cebu Pacific has achieved full compliance with the International Air Transport Association (IATA) Operational Safety Audit (IOSA)—considered as the accreditation with the highest standards for safety in the airline industry, joining a roster of 429 airlines worldwide that have strictly complied with the most stringent of international standards governing aviation safety.   

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XAVIER CITY: The new ambitious central business hub of Cagayan de Oro

August 7, 2019

CAGAYAN DE ORO CITY (MDN Mindanao News digital) - The new and ambitious central business hub of Cagayan de Oro initially dubbed as Xavier City by its developer will definitly change the landscape of Divisoria.  Based on the proposal submitted for approval by the Jesuits in Rome, it will be a planned mixed-use development of the current Xavier University campus in the downtown, and it shall be named "Xavier City." A new 6-lane thoroughfare is envisioned by the developer to cut across the Xavier property and it will become an extension of Toribio Chaves Street. It will also exit along Mortola St. The present church inside the XU campus (Immaculate Conception Chapel) will be retained and its surroundings will be made into a green park. On its south side will rise multiple office towers on top of the commercial establishments. The upper section will also composed of condos. The proposed new central business hub (CBD) also retains the university's College of Law that will occupy one of the towers, report said.   Different perspectives are presented below for clearer understanding of this most ambitious project development as proposed by Cebu Landmasters Inc. (CLI)  

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Cebu Landmasters expands presence in Northern Mindanao with two new residential projects

July 17, 2019

LEADING VisMin property developer Cebu Landmasters Inc. boosts its presence in underserved Northern Mindanao with the recent launch of two residential projects valued at Php1.26 billion that innovatively meet the needs of mid and economic-income housing clients. Casa Mira Towers CDO is a Php824 million, two-tower condominium development offering 986 units ranging from 20 sqm studios to 36 sqm one-bedroom units in a strategic Barangay Kauswagan location and generous amenities. Projected completion date will be in the fourth quarter of 2022.   The Php437 million Velmiro Uptown CDO offers 396 house-and-lots in a 14-hectare gated subdivision in the rapidly developing Upper Canitoan area of Uptown Cagayan de Oro with 80% open spaces. Velmiro is set for turnover to clients by the fourth quarter of 2021.   CLI chairman and CEO Jose Soberano III disclosed that “we focus our projects in VisMin and serve the diverse needs of the region’s property markets. Cagayan de Oro is the second largest economic driver of Mindanao and Cebu Landmasters is rapidly expanding to serve the evolving real estate market needs in the area.”   CLI’s popular housing brand Casa Mira, for example, has sold close to 6,000 units in four Cebu province locations and another location in Dumaguete City by “offering more to the Filipino family,” according to Soberano. The economic housing project gives clients amenities such as pool, gym, clubhouse and play area, all of which are more closely associated with higher-end residential products. PR   Velmiro likewise exceeds client expectations with its strategic and rapidly developing location in CDO near schools, hospitals and malls and upscale amenities. It offers units designed to maximize space, optimize views, and use natural lighting and ventilation.   Cebu Landmasters has mastery of its VisMin markets and was recently named best developer in the country by PropertyGuru Philippines Property Awards. It now has 58 projects in different stages of development covering residential, office, retail, hotels and a 22-hectare township in Davao City. “We expect to roll out 29 more before the year ends,” declared Soberano who remain bullish about prospects of the VisMin markets. 

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Phoenix Petroleum opens first airside facility in Davao

July 16, 2019

Fastest-growing and leading independent oil company in the country Phoenix Petroleum has opened its first airside facility at the Francisco Bangoy International Airport in Davao City, further streamlining its operations and services for its aviation partners. In a launching ceremony on July 10, 2019, Phoenix Petroleum Chief Operating Officer Henry Albert Fadullon highlighted the company’s continuous improvement to serve the needs of its clientele and contribute to the development of the community. “In line with our campaign for operational excellence, our newly built depot will help us serve better and more efficiently our commercial aviation clients. This project is also our way of reinforcing the booming air transportation and tourism industries, enabling us to better contribute to the overall customer experience of passengers, while fulfilling our corporate goal of becoming an indispensable partner in the journey of everyone whose life we touch,” he said. The new airside facility has a storage tank than can store up to 160,000 liters of Jet A1 fuel, a laboratory testing room for supply quality control, a staging area for trucks and aviation refuellers, and an office space for the employees. At present, the facility is expected to cater to the fuel requirements of Cebu Pacific—the company’s longest and biggest commercial aviation client in Davao airport. Also present during the inauguration were Phoenix Petroleum’s Chairman Domingo Uy, General Manager for Aviation Business Lester Khan, Cebu Pacific’s Vice President Joey Macagga, Fuel Operations Director Edwin Sarte, and Manager Ryan Mendoza, and Civil Aviation Authority of the Philippines’ Davao Manager Engr. Rex Obcena.

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Città Bella at Primavera City redefines standards in living with condominiums

July 16, 2019

Awarded by the prestigious International Property Awards as Mixed-use Development Asia Pacific 2017, Città Bella at Primavera City, the second phase of the Primavera City development, is a blend of world-class commercial spaces and prime condominium suite living. From healthy living, scenic views, and world class amenities, this new property in Uptown, Cagayan de Oro is redefining condo living standards in more ways than one.  Living in a Green Building is Healthy. Based on a research recently published by the Building and Construction Authority (BCA) and the National University of Singapore, people who work and live in a green building are less likely to suffer from “sick building syndrome”, a common illness experienced by people who stay in a conventional building for a long period of time. Green buildings, such as Città Bella have passive green features which creates a well-ventilated atmosphere allowing fresh air to enter and circulate within the building. World class amenities. Hotel – standard amenities, such as infinity pool, gym, saunas are located at the roof deck which provides a scenic backdrop of vibrant Cagayan de Oro’s cityscape. Amenities found in first-class condominium, such as 24 hours reception, multi-function room, gym center, sky garden, sauna, jogging path, sky playground and an outdoor infinity swimming pool are among the amenities of  Città Bella. Majestic view. Built on a  plateau overlooking the stunning Macajalar bay and Cagayan de Oro’s mountain scapes,  Città Bella at Primavera City’s 360 view provides a breathtaking scenic peek of Cagayan de Oro’s rich scenic landscape covering Camiguin Island, Macajalar Bay, Cagayan de Oro River, Malasag mountain view and the city’s impressive sunsets. Sustainable Building. Sustainable features such as passive cooling technology using shadow and sunlight control, wind cooling and shape performance are some green features trademark of IDC developments which anchors on performance-based design. In addition, Città Bella at Primavera City will contain a renewable energy feature which will be produced from semi-transparent photovoltaic panels found on the roof and portions of external walls.   Opportunities for Passive Income. Italpinas Development Corporation (IDC) has partnered with Damiani Property Management Services Inc, to provide professional property management services to serve unit owners who are intends to earn passive income.  Damiani Property Management Services Inc, is also the leasing partner of IDC, managing its commercial spaces.

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