Metro Manila beats Tokyo, Singapore in most attractive hubs for developers

Metro Manila is among Asia-Pacific’s most attractive urban hubs for developers and yield-seeking real estate investors this 2017, especially in the office and shopping mall space, based on the latest research on emerging trends in real estate commissioned by Urban Land Institute (ULI) and global advisory firm PwC.

On city investment prospects, Metro Manila ranked third next to Bangalore and Mumbai among 22 cities surveyed in the region.  Together with Ho Chi Minh, these four are the only cities with scores deemed “generally good” while the rest received “fair” ratings.


On city development prospects, the Philippine capital ranked fourth next to Bangalore, Ho Chi Minh and Mumbai.  Again, these four cities received “generally good” scores compared to “fair” ratings obtained by the rest.  They outranked cities like Shenzhen, Shanghai, Jakarta, Bangkok, Sydney, Guangzhou, Beijing and Tokyo.

“Compared to previous years, top rankings have been taken over by emerging market cities,” said Ken Rhee, ULI’s chief representative to China who presented the latest research in a briefing Thursday night.

This year’s investment prospects showed a strong shift away from last year’s favorites—which were dominated by Japan and Australia—in favor of emerging markets like India, Vietnam and the Philippines.  Singapore has likewise seen a sharp decline in appeal, now ranking close to the bottom at 21st from 11th a year ago and after grabbing the top slot in 2011 and 2012. The results also showed a change in strategy from “flight to safety” to “quest for yield.”

From 2007 to 2012, Metro Manila was a bottom-dweller on the ULI-PwC annual list, ranking between 18 to 20 in terms of investment prospects.  In 2013, it improved its ranking to 12th place, rising to fourth place in 2014 and staying at 8th place in the last two years.

“The Philippines has attracted positive comment for the last several editions of this report, with a vibrant economy led by a booming BPO (business process outsourcing) and strong remittances from overseas workers,” the research said.

“Today, the fundamentals appear as strong as ever.  Demand is resilient, with many buildings pre-committed before completion. Vacancies remain low and office capital values and rents continue to show good growth.  Meanwhile, the logistics, traditionally a laggard in the Philippines, is also seeing accelerating demand based on increasing consumer sales.”

In terms of property types, Metro Manila topped the office and shopping mall categories, with 85.7 percent and 66.7 percent respectively, recommending a “buy” on these assets.  The capital region also ranked highly in hotels, where 71.4 percent of respondents recommended a “buy.”

In industrial/distribution property, majority of respondents (57.1 percent) recommended a “buy.”

Metro Manila scored lowest in the for-rent residential property category, with 71.4 percent of respondents recommending “sell” versus 28.6 percent who said “buy.”

But the research noted some risks on the horizon for the Philippines, due to global economic woes particularly in  the Middle East possibly gnawing on overseas remittances.

source: business.inquirer.net

Six arrested for credit card fraud in Makati

Six suspects allegedly involved in credit card fraud were arrested following an operation by the Philippine National Police (PNP) in Makati City, a report on GMA News' “24-Oras” said Tuesday.

The report identified two of the suspects as couple Angelo and Evangeline Suyo, residents of Barangay Cembo who were subjects of an arrest warrant.

The couple, along with four others, were arrested while evidence such as laptops, cellphones and cameras were seized during the operation.

Also confiscated were over a hundred credit cards and three skimming devices believed to be used by the suspects in their illegal activities.

According to PNP-Anti-Cybercrime Group chief Senior Supt. Arnold Gunnacao, the group was in cahoots with a restaurant manager who gave them the credit card information of their customers through a skimming device.

“After one week binigyan siya [manager] ng P10,000 [as commission] dahil sa pagkokopya lang ng data ng credit cards,” Gunnacao said.

The manager coordinated with authorities and resigned from the restaurant after their mode of operation was discovered.

Gunnacao said a certain Joseph Pastor was the mastermind behind the operation.

The suspects, who are facing charges for violating the Access Device Regulation Act and Anti Cybercrime Act, denied the accusations, the report said. —Andrei Medina/KBK, GMA News

source: gmanetwork.com

Metro Manila residents urged to stay indoors after New Year revelry to prevent lung diseases

There is one place asthmatic Metro Manila residents should be after the New Year revelry: indoors.

This was according to Dr. Regalado Ramirez, as he noted the increase in air pollution following a night of fireworks and firecrackers.

Ramirez, of Amang Rodriguez Memorial Medical Center's Internal Medicine Department, said toxic particles from firecrackers remain in the atmosphere for days.

These particles, he said, can be harmful to the lungs and may cause health risks to those with asthma and chronic obstructive pulmonary disease (COPD).

“In some people, especially those with asthma, 'yung naturalesa ng katawan nila nagre-react sa smog, sa usok ng firecrackers. So, magti-trigger ng bronchu spasm, 'yung paggalaw ng daanan ng hangin, kaya sila nahihirapang huminga... na pwede mag-cause ng pneumonia,” Ramirez said in an interview on GMA News TV's “News To Go” on Wednesday.

He added that these toxic particles stay longer in the atmosphere because of the cold weather.

“Ambient temperature is relatively cold so medyo matagal ma-disperse unlike sa warm weather,” Ramirez said.

Toxic fumes

According to Ramirez, all firecrackers produce toxic fumes that generate toxic dust and greenhouse gases such as carbon dioxide, carbon monoxide, and nitric oxide. Firecrackers also have toxic chemicals such as aluminum, arsenic, barium and copper salt, he added.

“They can cause respiratory problems and some of these are carcinogenic, then so pwede mag-cause ng cancer,” Ramirez said.

Ramirez said that toxic dusts stay suspended in the air for about two to three days.

Because of this, he urged Metro Manila residents, especially those with asthma and COPD, to stay indoors.

Last 2012, a survey lead by PAGASA showed that there was a 320-percent increase of smog incidence in Metro Manila during New Year revelry, Ramirez said.

Meanwhile, Health undersecretary Janette Garin clarified over radio dzBB that haze—not smog—covered Metro Manila's atmosphere after the New Year revelry. She said haze is still a health concern for humans.

“Ang haze na dulot ng paputok ay parang nicotine na 'pag pumasok sa katawan ay sisingilin ka pagkalipas ng mga taon,” Garin said. — Rouchelle Dinglasan/KBK, GMA News

source: gmanetwork.com

Flooding brings chaos to Philippine capital

Manila, Philippines (CNN) -- Fueled by seasonal monsoon rains and a nearby tropical storm, widespread flooding in the Philippines worsened Tuesday, causing a landslide that killed nine members of a family, the national disaster agency reported.

The landslide in the Manila suburb of Quezon City buried two houses, leaving the nine people dead and four others injured, according to the National Disaster Risk Reduction and Management Center.

Three of the dead were children, the state-run Philippines News Agency reported.

The capital city of Manila got 504 millimeters (about 20 inches) of rain Tuesday, PNA reported, with more on the way.

The country's weather service -- the Philippine Atmospheric, Geophysical and Astronomical Services Administration -- warned the region's 12 million residents of continued torrential rains and serious flooding through Wednesday.

The national railroad called off service, and many roads were under water. Some dams were beginning to overflow, putting more communities at risk, authorities said.

The flooding has already forced nearly 130,000 people across the country from their homes, the disaster agency said. About 78,000 were staying in emergency shelters Tuesday night, the agency said.

Rescue requests continued to come in early Wednesday, including some people who were using Twitter to contact authorities for help.

"Pregnant woman needs help! Staying on top of a roof," one Twitter user posted, followed by an address. "Please help BORRES FAMILY w/ 2y/o child!!," posted another.

The weather agency warned residents to expect more landslides and flash flooding, and authorities urged residents in low-lying areas to move to higher ground to keep the death toll from the flooding from rising beyond the current 53.

In an effort to save lives and make way for rescue and relief efforts, President Benigno Aquino ordered work suspended at government and private offices around the capital region Tuesday.

Government offices and schools were also to be closed Wednesday, the president's office said.

"It's like a water world," PNA quoted Benito Ramos, head of the disaster agency, as saying of the city.

Deep water in many parts of metropolitan Manila blocked roads, stranded cars and flooded homes. In several areas, the water was waist deep or higher, the Metropolitan Manila Development Authority said in its Twitter feed.

"Last night it was raining cats and dogs, or even like elephants banging on your roof top," said CNN iReporter Rummel Pinera. "You cannot sleep when it's raining for several hours like this, it was like a deluge."

Another iReporter, Jumar Rejuso, said the downpour was terrifying.

"We had to force ourselves to leave in order to be spared from the wrath of the raging waters," he said. "It was the first time I have witnessed in my entire life a flood as big as that."

Flooding has struck across the Philippines, with high water reported in 46 communities across the country, the disaster agency reported.

Authorities in Marikina City imposed a forced evacuation of areas near the Marikina River, which has risen above critical levels, PNA reported.

The National Disaster Risk Reduction and Management Council said the Ambuklao, Binga and San Roque dams were releasing water, putting several cities at a higher risk of flooding. The agency warned residents living near the dams to be on the lookout for rising waters.

U.S. Ambassador to the Philippines Harry K. Thomas said Tuesday that the United States would provide $100,000 for disaster relief.

The rain and flooding are the result of the normal summer monsoon enhanced by the effects of Tropical Storm Haikui, the Philippines weather service said. The storm was about 258 miles southeast of Shanghai, China, on Tuesday, according to the Joint Typhoon Warning Center.

The country had already been lashed by heavy rain and wind in recent weeks resulting from Tropical Storm Saola, which plowed past it before hitting Taiwan and China at the end of last week.

The country is frequently subjected to flooding and landslides caused by heavy rain. In December, Tropical Storm Washi left more than 1,200 people dead after it set off flash floods that swept away entire villages in the southern Philippines.

source: CNN