Ayala invests P70B for new project, Vermosa
Ayala Land Incorporation invested P70 billion to develop a new project in Imus Cavite. The 700-hectare Vermosa will be used to build commercial retail shops, business purposes and restaurants. According to the press briefing of Bernard Vincent Dy, President and CEO of ALI, the project is inspired like the places in Makati, Bonifacio Global City and Nuvali. 124 hectares will be used for commercial establishments and 165 hectares will be for gardens and parks. Futhermore, a 400-meter Olympic-size pool will also be added as well as track and field and an advanced sports science laboratory. Vermosa will be accessible via the newly opened Muntinlupa-Cavite Expressway connected through Daang-Hari Road and South Luzon Expressway. The project is expected to finish for the next 12-15 years.
Lawmaker disclaims involvement in new PDAF scam
North Cotabato Second District representative Nancy Catamco turned down her involvement in the release last Wednesday of the new list of the alleged 15 lawmakers involve in the new Priority Development Assitance Fund or PDAF scam. Representative Catamco stated in an interview via phone call that she has no idea why her name is included in the list and she will just wait for the filling of complaint against her as advised by her lawyer. Attorney Levito Baligod from the Office of the Ombudsman stated that this new PDAF scam case is not related to the pork barrel scam of Janet Lim-Napoles.
DOST asks for P1.6 B budget for 2016 Free Wi-Fi access
The Department of Science and Technology (DOST) has asked Congress for a P1.6-billion budget to continue providing free Wi-Fi access across the country next year, and allow remote areas without Internet connections to access information offline. Undersecretary Louis Napoleon Casambre told lawmakers at the agency’s budget briefing at the House of Representatives Thursday that DOST plans to continue providing free Wi-Fi access to 7,118 sites across 967 municipalities and 43 cities in the country for 2016. The sites where free Wi-Fi will be available include public schoolyards and libraries, plazas and parks, public spaces in government offices, public spaces in rural health units, and transport terminals. In addition, Casambre said DOST plans to roll out the “Offline Internet for Remote Areas” (OIRA) service so that residents in far-flung areas can still access information.
SM Prime aims for 75 malls by 2018
An official from the The Sy family’s SM Prime Holdings, Inc. is aiming to reach the number of 75 mall branches by 2018 with contracts for various locations across Luzon, Visayas and Mindanao already sealed. Three malls are expected to open by later this year primarily located in Sangandaan in Caloocan, SM Cabanatuan in Nueva Ecija, and one in Visayas that is to be named SM Seaside City Cebu. SM Prime opened SM Center Angono in Rizal late last year that raised their numbers up to at least 50 mall branches. Officials from SM Primes said that they are earmarking P330 billion in the next four years or until 2018 to pursue expansion not only in the Philippines but also in China. Due to increase rental revenues and new projects of its real estate business, the company has reported a 90 percent increase in its consolidated net income in the first half of the year. Their Net profit rose to P18.7 billion from P9.8 billion
Gilas loses to FIBA Asia tormentor Iran
Asian Power Iran bags the victory over the Gilas Pilipinas team last Thursday afternoon at the Jones Cup Xinzhuang Gymnasium. From the score 74-65, Iran snatched the points from Gilas, who are also close to claiming the Jones Cup title. Hamed Haddadi scores before the defense planned by Gilas Pilipinas. According to the report, Haddadi is a tall guy and is a really good player. Marc Pingris earns score by his perfect free throws. Gilas Pilipinas is preparing for another game versus the Wellington Saints of New Zealand, USA Select-Overtake, and Chinese Taipei-B, which will start this Friday.