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BUSINESS STRATEGY : GIABE REALTY CORP.

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THE COMPANY
GIABE Realty Corporation (GRC) is one of the Philippines’ leading real estate developers, providing a wide range of
real estate products to customers from diverse income segments, with emphasis on the affordable and middle-
income segments. Its projects include integrated residential township developments and stand-alone residential
subdivisions which offers lots and/or housing units to customers in the mass housing segment (which includes
socialized, affordable and middle-income subdivision developments) and the high-end markets. In 2010, GRC
broke ground on its first high-rise condominium project in Metro Manila. GRC has developed “themed” housing
and land development projects, such as entrepreneurial communities, and a special economic zone registered in
the Philippine Economic Zone Authority, the Filinvest Technology Park-Calamba in Laguna province south of
Manila, which offers industrial-sized lots and ready-built factories to domestic and foreign enterprises engaged in
light to medium polluting industries. GRC also has leisure projects, such as residential farm estates and private
membership club developments and residential resorts.
Historically, GRC’s business has focused on the development and sale of socialized, affordable and middle-market
residential lots and housing units to the lower and middle-income markets. Its subdivision lots are typically priced
from approximately Php120,000 to above Php1,200,000, while its housing units (which include the lot on which
the house is built) are typically priced from approximately php300,000 to above Php4,000,000. In late 2007, GRC
launched its first medium-rise residential building (MRB) project. The MRB’s are designed in clusters of five-story
up to ten-story buildings that surround amenities with the intention of providing a quiet environment within an
urban setting in inner city locations. In recent years, GRC has also begun developing residential projects with a
leisure component, such as farm estates and developments anchored by sports and resort clubs located relatively
close to Metro Manila.
In September 2006, GRC diversified into investment properties through the acquisition of three strategic assets,
which include Festival Supermall, the PBCom Tower through Filinvest Asia Corporation and BPO office buildings
and operations through Cyberzone Properties, Inc.. In September 2006, GRC also entered into a joint venture
agreement with Africa-Israel Investments (Phils.) Inc. (“AIIPI”) and incorporated Filinvest All Philippines Inc. to
undertake the development of Timberland Heights. On 08 February 2010, GRC acquired the remaining 40.0%
Interest of Africa-Israel Properties (Phils.) Inc. in CPI and 40.0% interest of Africa-Israel Investments (Phils.) Inc. in
FAPI to obtain full ownership of the previous joint ventures.
In 2010, GRC likewise broke ground as it launched its first high-rise residential development in Makati, The Linear,
together with two high-rise projects located within Filinvest City in Alabang, The Levels and Studio City. GRC
recently launched its latest high rise condominium project as follows:
“Vinia Residences”, a 25-storey condo development located along EDSA in Quezon City, right across TRINOMA.
“Studio A” located in Loyola Heights, Quezon City is a vertical residential community conveniently located near
prime universities.
GRC’s investment properties are the following:

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A 100.0% ownership interest in Festival Supermall. Festival Supermall, with approximately 200,000 sq.m. of floor
area, is one of the largest shopping malls in Metro Manila in terms of floor area. GRC has a long-term lease
agreement with FAI for the land on which Festival Supermall is located, as well as for adjacent land that is available
for mall expansion. For the years ended 31 December 2011, 2012 and for the six months ended 30 June 2013,
Festival Supermall generated php809.86 million, Php853.74 million and Php 433.49 million, respectively, in rental
income.
A 100.0% ownership interest in the common stock of Cyberzone Properties Inc. (CPI). CPI was formerly a joint
venture between GRC and Africa-Israel Properties (Philippines),Inc.(AIPPI), which is a subsidiary of an Israeli
company with investments in residential real estate and shopping malls. On 08 February 2010, GRC was able to
increase the ownership of CPI from 60.0% to 100.0% when GRC acquired the balance of ownership interest (40.0%)
from its former joint venture partner, AIPPI for Php780 million. CPI operates the Northgate Cyberzone, a BPO
office park with multinational tenants located on a 10-hectare parcel of land owned by GRC which is approximately
five (5) hectares are available for future development. CPI generated rental income of php395.85 million for the 6
months ended 30 June 2013 for the years ended 31 December 2010, 2011 and 2012. GRC’s share in rental income
was Php 455.89 million, php542.44 million and Php722.76 million, respectively.
As of 30 June 2013, GRC had 111 on-going projects nationwide. GRC also has an extensive land bank available for
future development. As of 30 June 2013, GRC’s land bank consisted of approximately 2,272.5 hectares of raw land
and approximately 379.2 hectares were available for future development pursuant to joint venture agreements,
which the Company’s management believes is sufficient to sustain several years of development and sales. GRC
plans to develop these properties into mix-use developments with residential and commercial components.
For the six months ended 30 June 2013, GRC had php6.18 billion in total revenues from real estate sales, rental
services and other income, excluding equity in net earnings of an associate.
BUSINESS STRATEGY
GRC’s objective is to strengthen its market position in its core residential house and lot business by capitalization
on economic and social trends in the Philippines and to develop its portfolio of commercial office and retail
properties. GRC intends to achieve this objective through the following strategies:
Continue to grow its residential housing and lot business. Subject to market conditions. GRC plans to leverage its
reputation as one of the Philippines’ leading real estate developers to expand its market reach and land bank by
entering what it perceives as underserved and underdeveloped markets in potential growth areas and regions
throughout the Philippines and by accelerating the development of new projects in its existing markets. Because
there are still a large number of Filipinos without first homes, GRC intends to attract first-time home buyers and
aggressively grow its business to try to maintain market leadership in its core socialized, affordable and middle-
income residential house and for business.
Develop and introduce new development project formats. GRC believes that the Philippines has a dynamic
property market, particularly in the housing and land development sector. GRC believes that it has substantial
experience in developing and introducing new formats into the residential real estate market and will seek to
continue to be at the forefront of market changes. GRC intends to continue to innovate and introduce new project
formats to anticipate and meet market demands, such as farm estate developments and entrepreneurial
communities.

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 THE COMPANY GIABE Realty Corporation (GRC) is one of the Philippines’ leading real estate developers, providing a wide range of real estate products to customers from diverse income segments, with emphasis on the affordable and middle-income segments. Its projects include integrated residential township developments and stand-alone residential subdivisions which offers lots and/or housing units to customers in the mass housing segment (which includes socialized, affordable and middle-income subdivision developments) and the high-end markets. In 2010, GRC broke ground on its first high-rise condominium project in Metro Manila. GRC has developed “themed” housing and land development projects, such as entrepreneurial communities, and a special economic zone registered in the Philippine Economic Zone Authority, the Filinvest Technology Park-Calamba in Laguna province south of Manila, which offers industrial-sized lots and ready-built factories to domestic and foreign enterprises engaged in light to medium polluting industries. GRC also has leisure projects, such as residential farm estates and private membership club developments and residential resorts. Historically, GRC’s business has focused on the development and sale of socialized, affordable and middle-market residential lots and housing units to the lower and middle-income markets. Its subdivision lots are typically priced from approximately Php120,000 to above Php1,200,000, while its housing units (which incl ...
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