Property: ALI reports brisk sales from Cavite project. In a press briefing yesterday Ayala Land Inc (ALI-BUY) reported its project The Courtyards launched last June has already posted sales of PHP3b out of a potential total PHP4b. This project is a high-end residential development under Ayala Land Premier in Dasmariñas, Cavite. There are 431 lots available in its first phase with a lot areas ranging between 470 to 1,947 sqm selling at a price of PHP25,000 to PHP40,800 per sqm.
Infrastructure: Government sets Calax floor price at PHP20.1b. The Department of Public Works and Highways said the floor price for the deal to build and operate the Cavite-Laguna Expressway (Calax) is at PHP20b which is the premium in San Miguel Corp’s (SMC-Not Rated) disqualified bid in the previous auction. The winning bidders in the previous auction, Team Orion composed of Ayala Corp (AC-BUY) and Aboitiz Equity Ventures Inc (AEV-SELL), have declared they will not participate in the rebidding.
Gaming: City of Dreams Manila to soft open on 14 Dec. We understand that Melco Crown (Philippines) Resorts Corporation. (MCP-Not Rated) plans to conduct a soft opening for its City of Dreams Manila integrated resort on 14 Dec, which will be followed by a grand opening in Feb 2015. COD Manila will be operating with a limited number of gaming tables and slot machines in Dec. Previously, the plan was not to have a soft opening and have a grand opening in 2H14.
-Maketrade
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