Connect with us

Business News

Shakey’s to Open 20 New Stores in 2018

Published

on

Image Source: PhilGifts.com

Listed pizza chain Shakey’s Pizza Asia Ventures Inc. on Thursday said it plans to open 20 new stores in 2018, bringing its total store network to 228 at the end of the year, as part of a continued drive to expand its footprint across the country.

“We will continue to take advantage of the positive consumer sentiment in the Philippines and hope to open even more stores, including those outside the typical first tier cities,” said Shakey’s President Vicente Gregorio.

Shakey’s ended 2017 opening 24 new stores, including those in provincial locations such as Iligan, Puerto Princesa, Antique, Gapan and Palo, Leyte, amid the growing urbanization trend in such areas.

“It has been a banner year for Shakey’s – our maiden year as a publicly listed company – as this is the fastest we’ve grown in terms of store network. We have a strong belief in our brand and our strategy, and are keeping pace with the accelerating growth of our economy,” said Gregorio.

Shakey’s currently maintains market leadership in both the full service and pizza chain categories.

Apart from the Philippines, the company also owns the perpetual rights to the Shakey’s brand for the Middle East, Asia (excluding Japan and Malaysia), China, Australia and Oceania.

It reported that recurring net income for the first nine months of 2017 grew by 15 percent against the comparable period the previous year.

System-wide sales also rose by 15 percent, driven by same store sales growth of 6 percent and an expanding local store network.

Continue Reading
Comments

Business News

8990 Holdings Launches P2-B Cebu Mid-rise Condo Dev’t

Published

on

By

Image Source: 8990housing.com

Listed mass housing developer 8990 Holdings Inc. expects to generate Php2 billion in sales from its second mid-rise condominium development in Barangay Tisa, Cebu City, as it expands its footprint in high growth areas across Visayas and Mindanao.

8990 Holdings President and Chief Executive Officer Willie J. Uy said continued strong demand prompted the company to launch Urban Deca Homes Tisa 2, which it would spend around Php800 million for its development until 2021.

Urban Deca Homes Tisa 2 will have 21 four-storey buildings served by elevators. Each building will have an average of 70 units or a total of 1,392 units for the entire project.

Its first project in Tisa has already been sold out..

“Urban Deca Homes Tisa 1 was well-received by the market due to its affordability combined with a great view of the mountains on one side while overlooking Cebu City and the sea on the other side,” said 8990 Holdings President and Chief Executive Officer Willie J. Uy.

The company is allotting Php3 billion for capital expenditures this year for the development of more mass housing projects, both vertical and horizontal, as it aims to help the government reduce the huge housing backlog of 5.9 million units.

Uy said revenue growth now depends on how fast they can secure permits to sell because they have already bought the land that they need and demand continues to be strong.

8990 Holdings still has a land bank of about 554 hectares, although it will continue to purchase land but less aggressively as it just needs to replace those that it will use for development.

Continue Reading

Business News

Cebu Landmasters Eyes P7-B Reservation Sales This Year

Published

on

By

Image Source: www.cebulandmasters.com

Listed property developer Cebu Landmasters Inc. (CLI) targets to hit Php7 billion in reservation sales this year, up 52 percent from Php4.58 billion posted last year.

CLI attributed its exceptional performance last year mainly to newly-launched residential projects, which are now almost fully sold.

“In 2018, we will continue to expand our footprint in the Visayas and Mindanao, and develop projects that respond to the growing market in these areas,” CLI chief executive officer Jose Soberano III told the local bourse.

The company will launch this year 20 new developments, among them two residential subdivisions, three residential condominiums, three offices, one hotel and one industrial park in Cebu; two residential condominiums and a hotel in Bacolod; and a residential condo in Iloilo.

It also plans to fortify its foothold in Mindanao where it will launch two residential subdivisions and one residential condominium in Cagayan de Oro, while a central business district and two residential condominiums will be unveiled in Davao.

The upcoming projects boost CLI’s total number of projects to 66 from 46 last year, as it continues to strengthen its brand in its niche markets.

Soberano is confident of meeting performance targets set for the year and beyond.

The company targeted to book Php1.7 billion in profit and Php5.3 billion in revenue in 2018.

It expects that hikes in household income resulting from the newly approved package 1 of the Duterte government’s Tax Reform for Acceleration and Inclusion (TRAIN) law will be channeled to housing.

CLI said government spending in infrastructure was also expected to unlock land values outside Metro Manila and stimulate business in the countryside.

Continue Reading

Business News

IKEA to Announce Opening Date This Year

Published

on

By

Image Source: curbed.com

Swedish furniture company IKEA was planning to announce targeted opening date in the Philippines within the year, IKEA Sustainability and Communication Director Lars Svensson said Wednesday.

In an interview on the sidelines of Responsible Business conference in Makati, Swedish Ambassador Harald Fries said IKEA was planning to open its first Philippine store early 2020.

Asked about this, Svensson neither denied nor confirmed saying “until (they) have everything firmed up, that’s when (they’ll) announce the date of opening.

“I can say that within this year, we’ll announce it,” he said, explaining they were concealing it for the meantime so as to avoid influencing property prices.

“It’s just that it is an aspect of not fuelling speculation because the size of the company and the size of the brand equates to the interest, that’s a positive thing for us but we do not want to drive speculation where we’re going to be influencing property prices etc.,” he said.

“Absolutely, it is no secret we’re eyeing the Philippines to open next IKEA,” he added.

Svensson said they were highly optimistic about “the maturity and the development” of the Philippine economy. “We really believe it’s a place that is ready in terms of capacity and industry that could support.” 

Continue Reading

Business News

Cebu Landmasters Ends 2017 With Record P4.58-B Reservation Sales, Plans 20 New Developments in 2018

Published

on

Homegrown property developer Cebu Landmasters Inc. (CLI) finished the year 2017 with P4.58 billion in total reservation sales, exceeding its target by 13.75 percent and beating the 2016 result by 55.6 percent.

CLI attributed its exceptional performance mainly to newly launched residential projects: 38 Park Avenue (Cebu IT Park) with 745 units, Casa Mira South (Cebu) with 3,200 units, Mivesa Garden Residences (Cebu) with 1,514 units, Mesaverte (Cagayan de Oro) with 798 units, and the 694-unit MesaTierra (Davao City). These projects are now almost fully sold.

The listed company said its sales performance is resounding affirmation that its products respond to the needs of the market and are distributed strategically to the areas where demand is strongest.

“All the projects we launched were well-received by their respective markets making 2017 another banner year,” said CLI chief executive officer Jose Soberano III referring to the firm’s efforts to penetrate new markets such as Davao and Dumaguete and to diversify its products.

The past year saw CLI aggressively venturing into the hospitality industry to increase its inventory to a total of 610 rooms in four years. All CLI hotel projects are located within company-developed mixed-use communities. The 180-room “lyf Cebu City” by Ascott targeting millennial travelers and the 250-room Citadines Riverside Davao were launched in late 2017. They will complement Citadines Cebu City set for completion in 2018. More hotel projects are expected to break ground in 2018.

Cebu Landmasters is confident it will gain even greater momentum this year. The company has targeted reservations sales to hit P7 billion this2018, a massive 52-percent hike from the previous year, as it starts more projects and expands to more territories in Visayas-Mindanao growth centers.

The array of new developments planned for the year include 10 in Cebu (two residential subdivisions, three residential condominiums, three offices, one hotel and one industrial park). Details of these projects will be revealed in the coming months.

CLI has also set its sights on two new territories in the Visayas. Bacolod will play host to two residential condominiums and a hotel, while a residential condo is planned for neighboring Iloilo. Reports from the National Economic Development Authority (NEDA) show that the Visayas region will zoom ahead of other regions in the next five years and is expected to outpace the projected 7 to 8 percent growth for the Philippines.

The listed property developer also plans to fortify its foothold in Mindanao where it will launch two residential subdivisions and one residential condominium in Cagayan de Oro while a central business district and two residential condominiums will be unveiled in Davao. NEDA reports that in terms of economic growth, Davao ranks third among 18 regions in the country.

The upcoming projects boost CLI’s total number of projects to 66 from 46 last year, as it continues to strengthen its brand in its niche markets. The company’s residential condominiums are mostly designed for the mid-market segment, although it also offers condos for the high-end market.

“In 2018, we will continue to expand our footprint in the Visayas and Mindanao, and develop projects that respond to the growing market in these areas,” said Soberano who is confident CLI will meet its performance targets set for the year and beyond.

It expects that hikes in household income resulting from the newly approved package 1 of the Duterte government’s Tax Reform for Acceleration and Inclusion (TRAIN) will be channeled to housing.

Studies (TUCP, 2010) have also shown that around 2 to 2.1 percent of OFW remittances are channeled to housing. Total remittances in 2017 were seen to hit US$33 billion (World Bank, 2017). This means that at least US$693 million or about P35 billion would be used for shelter requirements.

CLI also expects that government spending in infrastructure will unlock land values outside Metro Manila and stimulate business in the countryside as the Duterte administration pushes for investments outside of the country’s capital.

Continue Reading

Trending