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iRemit teams up with property developer |
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Written by ABS-CBN Interactive
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Wednesday, 28 November 2007 |
I-Remit Inc., the country's largest Filipino-owned non-bank remittance company, has agreed to act as collection and remittance agent for overseas Filipino clients of property developer Earth and Style Alliance.
Through the partnership, Filipino clients of Earth and Style who are based abroad can now pay their amortizations through iRemit.
iRemit has branches in 25 countries across Asia Pacific, North America, Europe and the Middle East.
In addition to remittance services, iRemit also accepts payments for Social Security System, Philhealth, Pag-IBIG Fund and real estate companies.
[ABS-CBN Interactive]
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Last Updated ( Wednesday, 28 November 2007 )
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Filinvest Dev’t more than doubles profit to P3.91B |
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Written by Zinnia B. Dela Peña
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Wednesday, 28 November 2007 |
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Filinvest Development Corp. (FDC), the investment holding firm of tycoon Andrew Gotianun, said its net earnings for the nine months ending September this year more than doubled to P3.91 billion from P1.76 billion in the same period last year, boosted by one-time gains from the sale of shares.
In a financial report filed with the Securities and Exchange Commission, FDC said net revenues rose 23.07 percent to P4.96 billion from P4.03 billion.
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Kuala Lumpur real estate firm eyes business hotel in Makati |
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Written by Lovely Nica P. Lee
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Wednesday, 28 November 2007 |
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A MALAYSIAN property firm is investing P750 million to build a business class hotel in Makati, bullish on the financial district’s tourism potential.
IGB Corp., a publicly listed real estate firm in the Kuala Lumpur Stock Exchange which operates many hotels in Asia, has formed a subsidiary, St. Giles Hotel Manila, to handle the project.
St. Giles President Chua Seng Yong said the 29-storey hotel will be IGB Corp.’s first venture in the Philippines.
"The reason for this investment is actually very simple — we saw the growth potential of the hotel industry in the Philippines especially in the Makati district," he said.
The new hotel, to be called St. Giles Hotel Makati, which will be on the corner of Makati and Kalayaan avenues, will be managed by Cititel Hotel Management, the hotel management arm of IGB Corp.
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Government may undertake real-estate development of MRT 7 project |
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Written by Darwin G. Amojelar
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Tuesday, 27 November 2007 |
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THE government is willing to take over the real-estate development component of the Metro Rail Transit Line 7 project following the refusal of Universal LRT Corp. Ltd. to post the proposed performance bond, an official of the National Economic and Development Authority said. The company’s business plan is to develop as a component of the MRT 7 project 300 residential units, 900 office units and a 90,000-square-meter gross mall area in a 195-hectare estate in Bulacan. The tax revenues from the developed areas will be used partly to fund railway operations.
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Condo sales push up Shang Properties’ nine-month income |
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Written by Lovely Nica P. Lee
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Thursday, 22 November 2007 |
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LISTED FIRM Shang Properties, Inc. yesterday said its consolidated net income for the nine-month period increased by 70% due to higher revenues from the sale of condominium units and rental income.
In a financial report, the company said it posted a net income of P529.1 million for the period, from P312.2 million in the same period last year.
Revenues reached P1.84 billion from P1.41 billion in which condominium unit sales and rental income were the growth drivers.
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