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Belmont group to spend P500M for integrated complex in Minglanilla

THE Belmont Group is earmarking P500 million to build Belmont One, an integrated commercial complex located in Minglanilla. It will be the Lim family’s biggest venture in 45 years. With a solid track record in the general hardware business since 1973, the Lims are joining other local investors in putting up infrastructure that will rev up Cebu’s tourism activities as...

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Power firm shows how to go green, save, earn

NET METERING PROGRAM There has been a growing awareness among businesses and even households on the significance of going green in terms of power consumption. While bigger players in the power generation sector have ventured into massive renewable energy projects, the small and medium businesses have also started investing in their own small-scale green energy systems &ndash...

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Real estate tycoons are biggest winners in Forbes rich list

MANNY Villar shot to the second spot in Forbes’ annual list of richest Filipinos, with a net worth of $5 billion, the publication said. According to Forbes, the former senator’s wealth tripled over the past year, with shares of his Golden Bria leaping 1,300 percent in the first quarter. SM’s Henry Sy stayed at the top, with a net worth of $18 bill...

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Pag-ibig to members: Borrow more

STATE run-Pag-Ibig Fund Visayas reiterated its call for members to take advantage of its credit facilities, especially for residential ownership. According to Pag-Ibig Fund Visayas Department Manager for Business Development Rio Teves, the Cebu hub, which includes Tacloban, has an allocation of P6.198 billion. As of June this year, the agency has financed 2,234 hou...

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Megaworld to build JP Morgan tower

Megaworld Corp. has bagged a deal to build in Fort Bonifacio an “iconic” 25-story office tower for the global shared services operations of American banking giant JP Morgan Chase. The build-to-suit building will have about 70,000 square meters of leasable space, Megaworld said in a statement on Tuesday. JP Morgan’s new business process outsourcing hub is ex...

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TRAIN 2 concerns won’t slow down property boom

BROKERS UPBEAT ON SECTOR’S PROSPECTS Cebu’s real estate boom is expected to continue in the coming years. Officials of the PAREB-Cebu Real Estate Inc. (Pareb-Cereb) remain optimistic that the burgeoning property sector will retain its growth in the next three to five years, despite some concerns. “We see three or five more years of this real estat...

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