Araneta to develop 140-ha. Caloocan business district

Araneta Properties Inc., the listed company of businessman Gregorio Araneta, plans to develop a 140-hectare property in Caloocan City into a central business district, a top executive said over the weekend.

Araneta Properties chairman Gregorio Araneta III said the company’s property in Caloocan was a very good site for a business district because of the development of Metro Rail Transit Line 7 in the northern part of Metro Manila.

“That would be my central business district because currently there is no central business district in Caloocan. It will be the best township development,” Araneta said.

The company plans to start developing the property in the next two years or once MRT 7 is completed, he said.

The property firm is reviewing its funding options to finance the development of the project.

The Caloocan property is one the big pieces of land that Araneta plans to consolidate under his listed property firm. Aside from the Caloocan property, Araneta also consolidates additional properties in San Jose Del Monte, Bulacan under the listed entity.

Araneta Properties is developing a 340-hectare property in Bulacan called Colinas Verdas in joint venture partnership with Sta. Lucia Inc.

It also teamed up with Ayala Land for the development of the 120-hectare Altarazza Town Center also in Bulacan.

Ayala Land earlier said it would spend P6.8 billion over the next five years to develop Altarazza, a mixed-use development with a residential component, a shopping mall, a hospital, a school and office buildings for business process outsourcing companies.

Araneta said the land value of its properties in Bulacan significantly increased over the past few years as property developers like Ayala Land, SM Prime Holdings Inc. and Vista Land & Lifescapes Inc. started developing malls and residential projects in the province.

Araneta said the development of MRT 7 was expected to further increase the cost of land in the area.

MRT 7, a project of conglomerate San Miguel Corp., will link EDSA corner North Avenue in Quezon City to Araneta-Colinas Verdes Subdivision in City of San Jose Del Monte, Bulacan via a 22-kilometer elevated railway that is expected to serve 500,000 riders a day.

San Miguel is also building a 22-km, six-lane highway that will link San Jose Del Monte to the Balagtas Interchange of the North Luzon Expressway.

Duterte says PH, Japan reach ‘golden age of strategic partnership’

TOKYO— President Duterte declared that the Philippines and Japan are embarking on their “golden age of strategic partnership,” as Prime Minister Shinzo Abe promised maximum support for Marawi rehabilitation and fleshed out the details of the 1 trillion yen aid package he promised the Philippines back in January.

With the two countries deepening their cooperation on economic and security matters, Mr. Duterte said they were resolved to further expand their cooperative ties.

“I daresay that considering all that we have accomplished and achieved, the Philippines and Japan are building the golden age of our strategic partnership,” Mr. Duterte said as he issued a joint statement with Abe.

“It’s a commitment founded on the democratic values we hold dear. It’s a resolve that has withstood the test of time. Working together, we should have much to show and to be proud of in the years to come,” he added.

He thanked Abe for fleshing out the $9 billion he had pledged for the Philippines, which would go to “some of the most ambitious and groundbreaking projects” including the Metro Manila subway system and the improvement of roads and disaster response.

Mr. Duterte visited Abe’s official residence on Monday afternoon, where he was given arrival honors. The two leaders held a summit meeting followed by a tete a tete.

Abe congratulated Mr. Duterte for the leadership he exerted in addressing the Marawi conflict and declared full support for the Philippine President’s approaches toward fighting terrorism and bringing stability to Mindanao.

“We will provide maximum support to the restoration and reconstruction of Marawi City, and we will strengthen support for Mindanao, and toward the establishment of an autonomous government, we will respond to the progress of processes,” he said.

Japan will provide equipment for the devastated city’s and surrounding areas’ reconstruction and rehabilitation.

It would consider providing further assistance, including those for road construction and improvement, based on post-conflict needs assessment and the government’s masterplan for reconstruction. It would also consult with the government on building a society resilient to radicalism.

Given Abe’s support for Philippine efforts to fight terrorism and violent extremism in Marawi and his understanding of the cancellation of his Japan trip in June, Mr. Duterte said it was fitting that his first official visit after Marawi’s liberation is to Japan.

The Philippine President described Japan as “a true friend who has stood squarely behind the Philippines in my country’s onward advance greater peace, progress and prosperity.”

His and Abe’s discussions were “very warm, open and comprehensive,” he said.

The two leaders agreed to increase economic activities, and Mr. Duterte welcomed Japan’s growing number of investments in the Philippines, adding that the country was ready to work with responsible companies which we consider our new partners for growth.

He also said he was looking forward to meeting Emperor Akihito and Empress Michiko and thanked them for their kindness and compassion when they visited the Philippines last year during the 60th anniversary of the normalization of Philippine-Japan diplomatic relations.

“I am eager to convey my deep respect and admiration His Majesty,” he said.

He is scheduled to visit the Imperial Palace today (Tuesday).

Mr. Duterte is the first head of state to visit Abe after his victory in the recent snap elections.

The two have attested to their close friendship. Abe, during his visit to the Philippines last January, flew to Mr. Duterte’s Davao hometown and even visited his home there.

Abe, during his Manila visit, had also described the relationship between the Philippines and Japan as “deep, warm and brotherly or family-like relationship.”

Inquirer calls for support for the victims in Marawi City

Responding to appeals for help, the Philippine Daily Inquirer is extending its relief to victims of the attacks in Marawi City

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Greggy Araneta to create Caloocan’s first CBD

By Iris Gonzales

Businessman Gregorio Ma. “Greggy” Araneta III is building the first central business district in Caloocan, hoping to hitch a ride on the expected boom in the area once San Miguel Corp.’s Manila Metro Rail Transit System Line 7 (MRT-7) starts running.

In a recent interview, Araneta unveiled his plan to build a 140-hectare mixed use estate, which he said, would be the first in the city.

“That will be my central business district. There’s no central business district there. The only area beside that is La Mesa Dam watershed,” said Araneta, chairman of Araneta Properties and Gregorio Araneta Inc. (GAI).

Araneta said the planned development in Caloocan, which is along Quirino Highway, would be “the best township” he would build.

But, he said, his company would still have to wait for MRT-7 to be in place.

“We have to get the MRT their first. That should be the finished in two to three years,” Araneta told reporters.

“Because of the MRT, it will be a very good site for a commercial business district,” he said.

SMC, the diversified conglomerate, has already commenced construction of MRT-7, which will be 22.8 kilometers long serviced by14 stations.

The line will run in a northeast direction, starting from North Avenue in Quezon City to San Jose del Monte, Bulacan. It will span Quezon City and Caloocan in Metro Manila and will end at the proposed inter-modal terminal station in Bulacan.

As of September, the project is almost 10 percent complete.

SMC expects to complete the project by 2019.

Unlike Araneta’s other property developments in Bulacan, which he developed with other property developers such as Sta. Lucia and Ayala Land Inc., he may develop the CBD alone.

But he said he is not closing his doors on partners.

“It depends on the opportunities,” he said.

Eventually, Araneta’s Araneta Properties may do a follow-on offering to raise funds to finance the development of CBD and other projects in the area.

But Araneta stressed that nothing is final yet. He said all options would be studied.

The company posted a net income of P17.390 million in 2016 from P35.9 million a year ago as the company withheld the sale of some of its properties to wait for land value to go up.

Araneta is also chairman of PhilWeb, the listed gaming company.

His holding company, GAI, meanwhile, is pushing for the development of an LNG facility in Bataan with an initial phase that would have a capacity of 600 megawatts and an investment of roughly $1.2 billion.

He also has other investments in energy.

Nuclear peril on agenda of Duterte-Abe talks

TOKYO — President Rodrigo Duterte and Prime Minister Shinzo Abe open talks in Tokyo on Monday on key regional concerns, including the nuclear threat posed by North Korea.

This is the third meeting between the two leaders, after Mr. Duterte’s state visit to Tokyo last year and Abe’s reciprocal visit to Manila in January.

Chief Japanese Cabinet Secretary Yoshide Suga has said the meeting between Mr. Duterte and Abe ahead of two regional summits next month provides great opportunity to discuss pressing issues such as North Korea’s nuclear ambitions.

Japan’s Deputy Chief of Mission Takihiro Kano earlier said Mr. Duterte’s visit would enhance cooperation between Japan and the Philippines for peace and stability in the region.

The Philippine leader arrived in Tokyo early Monday for a two-day visit.

He will have discussions with Abe in the prime minister’s office on Monday, after which they will issue a joint statement.

On Monday evening, Abe will host a dinner for Mr. Duterte.

North Korea, trade issues

In a predeparture speech at Davao International Airport on Sunday night, Mr. Duterte said he expected to discuss the North Korean nuclear threat and trade issues with Abe.

He said he looked forward to meeting Emperor Akihito and Empress Michiko. He said he was unable to meet the emperor during his visit to Japan last year because Akihito’s uncle died.

Mr. Duterte said he also expected to meet Japan’s business leaders in Tokyo.

“They have shown significant interest in our efforts to sustain our growth, and I will work toward securing the Japanese business community as a key partner in our country’s development agenda,” he said.

Mr. Duterte said he would discuss with Abe “ways to significantly advance our already strong and strategic bilateral relations, especially on matters involving socioeconomic development, peace and progress in Mindanao, and the build-up of modern infrastructure in the country.”

On the North Korean problem, Mr. Duterte said “somebody has to talk” to the North’s leader Kim Jong-un.

“Somebody has to go there. It would be good for America, Japan, (South) Korea and Mr. Kim Jong-un to talk and convince him to sit down in a round table [and say] nobody is threatening him. There will be no war,” he said.

Mr. Duterte and Abe are also expected to tackle issues concerning the South China Sea along with the Philippine’s chairmanship of this year’s Association of Southeast Asian Nations (Asean) summit.

Abe is expected to attend the summit in Manila.

Economic cooperation

Economic cooperation is expected to be part of Mr. Duterte’s discussions with Abe. Japan earlier pledged 1 trillion yen in assistance for the Philippines over five years.

The Manila subway project and the north-south commuter lines, which would be funded by Japan, “would be further discussed for realization,” Kano said.

Japan may also provide more aid for the rehabilitation of Marawi City, which was destroyed in five months of fighting between government forces and pro-Islamic State terrorists. With reports from Philip C. Tubeza, AP, and New York Times News Service

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Same old story

One reason why I no longer want to attend public discussions of this administration’s transport infrastructure program is that I get terribly bored. I hear the same old stories of grand plans. I am aware of hindrances to the projects like right of way issues that I know are not being addressed. Most presentations do not include or breeze through expected dates of completion.

The aviation industry conference last Friday organized by IATA and the local association of airlines turned out to be no different. I attended principally because my colleague and friend, Sara Soliven de Guzman asked me to join her.

I arrived late because traffic was moving ever so slowly on EDSA last Friday morning. I missed the speech of Sec. Art Tugade, but I watched a recording of Tugade’s speech that was posted on Facebook. I agree with the plans he enumerated but he said nothing I didn’t already know.

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I sat quietly at the back of the conference venue listening to Usec for Aviation Skee Tamayo and NAIA GM Ed Monreal deliver their spiels. Nothing new there too.
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An official of Philippine Airlines talked about their proposal to decongest NAIA T2 by building additional terminal space. I was the first to break that news early this year. No new development there also.

Question and answer portion came around. There were polite questions being asked, which is expected. The airline officials in the audience could not ask the hard questions because the panelists are their regulators. I was getting nothing new from the give and take.

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I was getting bored. I didn’t suffer mid morning EDSA Friday traffic for nothing.  Against my original plan to just sit down and listen, I decided to ask a question.

I pointed out that the problem with DOTr presentations is that it’s all motherhood. We can’t argue against having all those plans happen. The big question is when would DOTr deliver on their grand plans.

I think it was Monreal who said they have a list of plans and target completion dates because Tugade insists on having those. So I said those completion dates should be made public, otherwise they can just keep on pushing back those dates.

Monreal said they have printed materials on the programs with target dates. The moderator, a foreigner, asked for a show of hands as to who in the audience has seen that document of projects with completion dates. Not one hand was raised from a roomful of people whose business is to know such details of government intentions.

Maybe that’s because they have amateurs running DOTr’s communications program. I remember some powerpoint presentations with very rough dates included, but not enough for an investor to make a decision to invest money.

I raised other problems. What will DOTr do between now and the time San Miguel’s Bulacan airport starts operations? NAIA is hopelessly congested and inadequate. It is now handling over 40 million passengers a year when its rated capacity is 30 million. A new airport of the caliber Ramon Ang wants to build at no cost or guarantee from government will take 10 years to build.

I know RSA said he could make his Bulacan airport operational in five years from the day he gets a go signal from government, assuming all government approvals are expedited. I think our neighbors took at least eight years to build their modern airports. Ten years is a reasonable time for a major international airport to get built.

Of course, the DOTr officials in the panel had no answers. They can’t even commit on the interim proposal of Philippine Airlines. That’s understandable. President Duterte hates Lucio Tan, and as long as Tan owns PAL, government can’t be expected to deal with him or the airline.

But the additional terminal capacity is urgently needed. Even if we break ground today, it will take three years to complete the facilities PAL wants to build. The legal issues being cited with Pagcor and Philippine Village Hotel are non issues because a simple one page executive order from President Duterte will fix all that, if he wants to.

They talked about Clark and how Clark would relieve pressure from NAIA. Usec. Skee even mentioned the NLEX-SLEX connector road cutting travel time significantly between Clark and NAIA.

So I pointed out that right of way issues are delaying the completion of that vital connector road project. RSA has personally negotiated a ROW problem with Sincere Lumber in Paco and that’s the only progress so far.

DPWH has not delivered on everything else. It took the TRB quite a bit of time to approve the diversion of the alignment to go over the San Juan River to avoid the ROW problems affecting the motel row in Sta. Mesa.

I understand San Miguel is targeting completion of the NLEX-SLEX connector road by end-2019. But the ramps will be completed only in 2020, assuming ROW and utilities relocation issues are immediately addressed. The same issues delayed the NAIA Expressway’s early completion.

It is clear that if government really wants to deliver its grand infrastructure plans, they have to tie up all loose ends. Duterte must appoint a very senior official with clout, like the role played by Rene Diaz under former PGMA, to focus on ROW issues. Otherwise, puro laway lang. Pinapa-asa lang tayo pero wala.

In the end, our skepticism is justified.  The DOTr officials always ask for our understanding and support. I am sure they have that because no one in his right mind will want them to fail. But… show us some movement!

Tourism ad

From Barcelona… I received this e-mail from a well-travelled Filipino former investment banker who has also invested his own money in our tourism industry.

He is dismayed at the quality of the tourism department’s advertorial published in the New York Times. It is the print version of the horrible TV commercial “anak.” I agree with him. Here is his e-mail:

 Dear Boo,

1. The readership of the print edition of the international New York Times is almost 100 percent affluent businessmen. Not a single part of the advertisement is of any interest to them. This is simply the wrong medium for a tourism pitch.

2. The point of a slogan is to fix a simple, single thought, expressed succinctly in as few words as possible. The advertisement had three different slogans.

3. The picture is of a place that almost no past, present, or future tourist will ever get to.

4. The picture reinforces a racial stereotype of Filipinos fawning over whites. It is personally distasteful to me, and probably off-putting to all the Asians - families, groups of singles, incentive groups – who constitute a much larger potential market than young white backpackers.

5. The advertisement picture and text violate the first principle of advertising, which is to identify a specific target audience and then talk to that audience. The ad could be likened to a BMW ad that targets rich people, women, old people, sporty drivers, teens, mothers, companies, and ecology-conscious people all in one go. It winds up being utterly unconvincing.

6. The ad was written by someone whose command of English idiom frequently wavers. For example: “Relax, rejuvenate and be prepared for a dose of adrenaline rush in Cebu”;

“For honeymooners, experience a unique island dining by the beach. . .”;

“Today, Kalesa is still visible. . . for tourists’ cultural experience “; “. . . Spanish occupation.”

Hardly a paragraph goes by without some new grammatical or usage error. This would not matter much if the words were spoken on a TV show, but the typical highly-literate New York Times reader will just cringe at seeing the phrases in print, in a newspaper noted for its English-language style.

7. Not that an advertorial is a good way to promote a country’s tourism, but if you are going to have an advertorial, it must have exactly the same font, format, and look as the rest of the publication. If it is immediately evident that it is a paid advertisement, it loses all the benefit of being an advertorial.

8. Who is Jack Ellis? Who cares?

Thanks for listening.

Regards, Manny

Boo Chanco’s e-mail address is bchanco@gmail.com. Follow him on Twitter @boochanco.