FIL-ESTATE REALTY SALES ASSOCIATES INC. FERSA

by GOLDEN FORUM LAND, INC.

Construction Update

We are pleased to announce that the architectural wet works on all levels have been completed.

Mechanical ducting is completed on 21^st level. Electrical and sanitary works are on the 16^th level. Fire protection installation up to 16^th level. Exterior painting and Window frame installations are on going to level 12^th and interior painting up to level 14^th.

Elevators have been delivered and to begin installation this January 2009.

Targeting beginning of turnover for bare units by end of first quarter 2009 and for finished units by end of 2^nd quarter 2009.

REDESIGNED POOL LAYOUT

The Pool Amenities and Recreation Area on the 5^th level has been improved with the addition of an elevated wooden deck which runs the length of the pool and trellised wooden alcoves for more intimate relaxation by the pool. Children can enjoy their own pool while the adults can relax in the Jacuzzi.

CHAT WITH US
Tess Camarin	JL Timbreza

by Golden Forum Land, Inc.
Rents for 3 bedroom Units
Residential rents for luxury 3-BR units in Makati CBD excalated by 5.2% since January to an average of P566 per square meter per month of P147,160 per month. For the same period last year, escalation in residential rents stood at 9.9%. Full-year rental rate increase is expected to temper to 10% compared with 15% last year due to mounting supply pressure. For 2009, growth will narrow to less than 2% as more supply, both in the CBD and alternative locations looms.
Rockwell still proves to be resilient in the residential market as 3-BR unit’s rent appreciated by 4.4% YTD to P664 per square meter per month or P149,400. Rockwell rents are expected to further improve at the end of 2008 to achieve a 10% growth YoY at P699 per sqm per month. This growth trend extents to 2009 as no new supply is expected until 2010.
Bonifacio Global City’s luxury 3-BR rents rose to P589 per square meter per month or P170,810 per month, a 2% YTD increase. Full year increase in the rental rates should slow to 4% due to influx of new supply and alternatives. This trend will extend to next year as we expect a mere 1% increase in rental rates for 2009
-Colliers Knowledge Report July 2008
Philippine Economy Holding
Despite sky rocketing prices in oil products, automotive sales posted a robust performance with 32,750 units sold in the second quarter of 2008. This translates to a 16% increase in sales from the same period last year (28,058), and 13% increase compared to last quarter’s 28,904 units. Total car sales to date in 2008 stands at 61,654 units. Consumers are banking on more efficient vehicles replacing old cars with new ones. Compared  to last year, passenger car sales increased by 13% while commercial cars increased by 18%.
OFW remittances are in track in achieving a 15% increase this year, as first semester figures stand at $8.2B, a 17.2% increase from the same period last year. Last year’s January to June remittances amounted to $7B. Despite a slowdown in the US and other markets, Filipinos continue to remit. The continued growth in volume and amount of remittances is explained by the rise in number of skilles and higher paid workers abroad, up 33.5% for the six months. OFW are also landing into better, higher-paying jobs. These factors, together with the continues enhancement of financial services to OFWs, are behind the resilient inflows.
-Colliers Knowledge Report July 2008

by Golden Forum Land, Inc
According to the real estate services firm CB Richard Ellis Group, Inc, rates the Philippines as the “hottest real estate market” in Southeast Asia. Primarily driven by the high demand from business outsource processing (BPO) and tourism markets. Other factors that have a positive impact in the property sector include the stable peso and unabated flow of dollar remittances.
New hotel resort developments in Makati City, Fort Bonifacio, Manila Bay Area, Cebu and Boracay are expected to keep up with the growing tourists arrivals in the country which reached 3.091 million in 2007. CBRE projects tourist arrivals to increase to 3.4 million this year, generating $5.8 billion revenues.
For residential, CBRE expects 18.143 units to be provided from the completion of 28 residential condominiums in Makati that are targeted for completion between 2008-2013.
Some 11, 652 units are expected to come into the market from 33 residential condominiums being constructed from 2008-2012 in Fort Bonifacio.
~Major investors and business are looking at the Philippines since it is one of the largest English speaking nations in the world and has 33.5 million Filipinos in the workforce.” According to Trent Frankum, General Manager of CBRE.
Major multinational BPO operators are currently expanding their presence in the Philippines, among them Accenture which has just leased 1.3 million square feet of space and Teletech which has built facilities outside Metro Manila Financial companies such as HSBC. Citigroup and JP Morgan have been expanding Philippine sites of their respective customer support operations. HSBC currently has four locations which totals 859,200 square feet and plans to open more sites. Citigroup and JP Morgan have 214,812 and 107,400 square feet of space leased respectively.
-    CB Richard Elli’s Report June 2008

Just in front and across the streets of the soon to be Seibu Tower grand lobby is a beautifully landscaped park with a number of metal/steel finished sculptures, paved ground surrounded with fresh green grass.
This is a welcome addition to Seibu  areas and can be seen from all units facing Makati and the commercial lobby areas.

Japanese international School

The Japanese International School, formerly located in Paranaque, has recently opened in Fort Bonifacio, Global City. Education is available for children grade 1 to grade 9. Requirement for enrollment is a Japanese passport. The school calendar is based on the Japanese schedule from April to March. Teachers at the Manila campus are posted from Japan for three-year assignments. The new campus includes air-conditioned classrooms, a sports facility, music rooms, computer lab, 3 science labs, home economics room and a library. The Japanese International School enrolls approximately 500 children.

British School of Manila

Established in 1976, with just two classrooms and 32 students, BSM relocated in Bonifacio Global City last September 2001 next to the International School of Manila and the Manila Japanese School. Facilities include swimming pool, auditorium, playing field, two science laboratories, a technology suite, music and drama studio and four ICT laboratories. Classrooms are built on a cluster design in order to maintain the friendly “small school feeling” that characterizes the British School. It has now grown to more than 700+ pupils, representing over 40 nationalities. The school offers an education that nurtures the different strengths and talents of its students, who are exposed to a broad abd balanced curriculum (from Wikipedia)

International School of Manila

In a sign of confidence on the future of the Fort Bonifacio Global City as the Philippines’ newest business district, the Singapore Embassy in the Philippines has relocar=ted from their present office in Makati City

Philippine Stock Exchange to move headquarters to Fort Bonifacio in 2010

A new headquarters office in Fort Bonifacio, Taguig City, would welcome the Philippines Stock Exchange (PSE) by 2010. The PSE currently operates two trading floors in Metro Manila – one along Ayala Avanue, Makati City and another at the Ortigas in Pasig City.

Last April 2007, the PSE approved the transfer of a unified house to a modern headquarters office inside Fort Bonifacio. The transfer is planned to take effect by the first quarter of 2010. “Although our current trading system is already unified, physically merging and housing it in Taguig would give our trading partners that sense of oneness.” – Taguig Mayor Freddie Tingas said.

The PSE’s headquarters would stand on a 5,000 sqm property near the HSBC building in the Fort. The property is part of the donation agreement that PSE and the Fort Bonifacio Development Corporation signed in 1994 concerning the PSE’s transfer to the new site by 2004. Tinga expressed optimism that the PSEs transfer and housing would offer more employment opportunities to the residents of Taguig and encourage other corporate players to eventually move their businesses in the city.

Since its emergence, the Fort Bonifacio City has opened itself to various corporate commercial investments. Aside from the PSE, two foreign embassies have also set eyes on a transfer to the Fort. Great Britain’s embassy had its groundbreaking this year and is to occupy its office by September 2008. Meanwhile, Singapore embassy started construction last year and is targeted to finish by 2008 as well.

-sourced from www.business.inquirer.net by Hershley D. Homol 4/30/2007

St. Luke’s Medical Center bonifacio Global City –