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Consortium to sign contract for Sangley airport in Sept.

By Arjay L. Balinbin, Senior Reporter

A CONSORTIUM composed of Philippine, European and South Korean companies is set to be awarded the contract to develop the Sangley Point International Airport (SPIA) in September, according to the Cavite provincial government.

Cavite Governor Juanito Victor “Jonvic” C. Remulla, Jr. confirmed to BusinessWorld on Monday that no groups participated in the “competitive challenge” or Swiss challenge process for the SPIA project.

The SPIA Development Consortium had submitted an unsolicited proposal to develop the Sangley airport.

It is composed of the Virata-led Cavitex Holdings; Yuchengo-led House of Investments, Inc.; MacroAsia Corp., an aviation support services provider controlled by the family of billionaire Lucio C. Tan; Samsung C&T Corp., a South Korean construction and engineering company; Munich Airport International, a wholly owned subsidiary of Flughafen München GmbH; and Arup, a UK-based design company.

Cavite’s Public-Private Partnership (PPP) Selection Committee Chairman Renato A. Abutan informed Cavitex Holdings in an Aug. 18 letter that the province intends to award the contract to the SPIA Development Consortium on Sept. 14. The date is still tentatively scheduled.

Mr. Remulla sent a copy of the letter to BusinessWorld on Monday.

All unsolicited proposals are required to undergo a Swiss challenge, wherein other groups may submit counterbids.

As demand for air travel is expected to increase in the next 30 to 40 years, the province of Cavite has been pushing for the development of the SPIA as an alternative to the Ninoy Aquino International Airport in Pasay City, the Philippines’ primary gateway.

MacroAsia President and Chief Operating Officer Eduardo Luis T. Luy told reporters on Friday that there were no bids submitted during the Swiss challenge, saying this is a “good sign.”

“We (MacroAsia) are mostly going to be on the O&M (operations and maintenance) side, because previously we were supposed to be part of this project in a different way. Now that goal has kind of shifted, we will be participating more on the operations side of things,” he said on the sidelines of the formal opening of Lufthansa Technik Philippines, Inc.’s new hangar in Pasay City.

To recall, MacroAsia and its partner China Communications Construction Co. Ltd. had negotiated with Cavite for the project in 2020, but the province canceled its notice of selection and award in January 2021 due to the “various deficiencies in the submission of requirements to conclude the joint-venture agreement.”

Cavite City’s Sangley Point, located along a peninsula that juts out to Manila Bay, is currently operated by the National Government as a supplemental runway to NAIA. The airstrip was first built in 1951 by the US Navy.

BSP expected to hike rate to 4.5% by end-2022

PHILIPPINE STAR/EDD GUMBAN

THE BANGKO Sentral ng Pilipinas (BSP) is expected to remain hawkish for the rest of the year, bringing the policy rate to 4.5% by the end of the year, Fitch Solutions Country Risk & Research said.

“A combination of strong economic growth and an elevated inflationary backdrop will prompt the BSP to remain hawkish in our view,” Fitch Solutions said in an Aug. 19 note.

The BSP last week raised its benchmark policy rate by 50 basis points (bps), bringing it to 3.75%. Rates on the overnight deposit and lending facilities were also hiked by 50 bps to 3.25% and 4.25%, respectively.

“In the accompanying monetary policy statement, the Monetary Board deemed further monetary action to be necessary to anchor inflation expectations and to bring inflation back to its target of 2%-4% over the horizon. As such, we at Fitch Solutions now expect the BSP to hike its policy rate to 4.5% by end-2022, up from our previous forecast of 4.25%,” the think tank said.

Fitch Solutions maintained its average inflation forecast for the Philippines at 5.6% for 2022, slightly above the BSP’s revised 5.4% average inflation forecast.

Headline inflation accelerated to 6.4% year on year in July, the fastest in nearly four years and exceeded the central bank’s 2-4% target band for a fourth straight month. Inflation averaged 4.7% in the first seven months.

Elevated inflation will pave the way for more rate hikes by the BSP, it added.

“Against the backdrop of the ongoing Russia-Ukraine war and adverse weather conditions in several food-producing countries in the region, energy and food prices will continue to be a significant source of upward price pressure in the Philippines,” Fitch Solutions said.   

While oil prices have declined recently, the think tank said prices are still higher compared to the 2021 level.

“Our Oil & Gas team forecasts Brent crude oil to average $105 per barrel in 2022, compared to $70.95 per barrel in 2021,” it added.

The Philippine economy is expected to continue its recovery this year. Fitch Solutions earlier raised its gross domestic product (GDP) growth forecast for the Philippines to 6.6% from 6.1% previously.

“We believe that the Philippines’ economic resilience will also provide more room for the central bank to normalize its monetary policy,” it said.

“While we expect growth will likely slow in (second half of 2022) as a result of rising economic headwinds stemming from a softening global economic outlook, tightening monetary conditions, and elevated energy prices, the 2022 economic performance would still be stronger than the 5.6% recorded in 2021.”

The economy expanded by 7.4% in the second quarter, bringing first-half growth to 7.8%.

Tighter global monetary conditions in the coming months will likely exert more depreciatory pressures on the Philippine peso, Fitch Solutions said.

“The Philippine peso has come under significant depreciatory pressure as a result of tightening credit conditions globally. This will likely prompt the BSP to hike rates further in order to safeguard external stability,” it said.

The Philippine peso has depreciated by around 10% against the US dollar year to date.

The US Federal Reserve has hiked its fed fund rate by 225 bps since the start of the year to a target range of 2.25-2.50%. Fitch Solutions sees the Fed hiking by 75 bps more before yearend.

“If the BSP chooses to stand pat in subsequent meetings as the US Fed hikes, real interest rate differential could widen and trigger capital outflows, exacerbating downside volatility for the peso,” it added.

BSP Governor Felipe M. Medalla on Friday said they will respond to the US Federal Reserve’s policy tightening, but does not have to match the magnitude of its rate hikes.

“We will not match them (the Fed) point by point,” Mr. Medalla said, “If they do (raise rates by 75 basis points)… that needs a reaction.”

The Monetary Board is scheduled to meet on Sept. 22. — K.B.Ta-asan

DoTr urged to upgrade, privatize EDSA busway

PHILIPPINE STAR/ MIGUEL DE GUZMAN

THE DEPARTMENT of Transportation (DoTr) is being urged to consider the privatization of the bus system along Epifanio delos Santos Avenue (EDSA), as well as other urban rail systems to help ease the burden of commuters.

The Management Association of the Philippines (MAP) said the DoTr should look into the privatization of the EDSA busway and bus service, and urban commuter rail systems, consisting of the Metro Rail Transit Line 3 (MRT-3), Light Rail Transit Line 2 (LRT-2) and the Philippine National Railway (PNR) commuter lines under a “hybrid mode.”

Under the hybrid mode, the government will provide the infrastructure, while a private concessionaire will operate the service and maintain the facilities under an operate and maintenance (O&M) concession.

“MAP has offered to work with the DoTr and other private sector stakeholders in preparing the terms of reference for the bidding and award of the concessions to ensure a level playing field for all,” the business group said in a statement on Monday.

The recommendation was made by the MAP in a letter sent to Transportation Secretary Jaime J. Bautista.

Also, the MAP said DoTr should focus on a total system upgrade of the EDSA bus system, where commuters face long lines during rush hour.

“The upgrade will complete the EDSA busway, a work-in-progress, scale up its capacity and raise it to the level of global standards to optimize the system to achieve its full potential as a cost-effective, efficient, high-capacity urban mass public transport system commensurate to the high-commuter density of EDSA, and, as well, to ensure long-term sustainability to ably serve its role as the complementary mass transport to the MRT-3,” the business group said.

They asked the DoTr to augment vehicles in the EDSA Bus Carousel, PNR commuter lines, MRT-3 and LRT Lines 1 and 2, to improve the commuters’ experience.

“These lines should have the shortest waiting time (and therefore the shortest queues) for commuters during rush hours,” the MAP said.

Currently, commuters have to endure long lines at EDSA Bus Carousel stations due to the lack of buses. Long queues are also usually seen at the MRT and LRT stations during rush hour due to the volume of commuters.

To upgrade the EDSA busway, the MAP proposed increasing the capacity of station platforms, building more stations, and expediting the construction of donated busway station footbridges.

The DoTr should also address the chokepoints along the EDSA Bus Carousel, provide ease of bus-to-train connectivity, and establish similar busways in commuter-heavy areas in the National Capital Region, they said.

The MAP urged the DoTr to decongest the Ayala station and McKinley Road by providing an alternate route from Bonifacio Global City to the Buendia station, as well as introduce electric commuter buses.

The business group said President Ferdinand R. Marcos, Jr. should issue an executive order to “enjoin all relevant agencies to comply with the National Transport Plan (NTP) of 2017, particularly to prioritize people mobility through public transportation and active mobility, such as walking and biking, by prioritizing the allocation of road space for such purposes.”

“Currently, busway station platforms and sidewalks are very narrow and grossly inadequate as the space required for them were allocated instead to augment private vehicle lanes pursuant to misguided car-oriented road management policy,” the MAP said. — R.M.D.Ochave 

Here be dragons: Game of Thrones prequel takes flight today

THE PREQUEL to the events of Game of Thrones premieres and streams today on HBO GO. But fans of the first series should not expect rehash says the showrunner.

“There’s wish fulfillment for an audience of things they want to see. We’re not here to not give it to them. We’re here to give them the thing that they want —  just not the way that they’ve expected. We’re not trying to rehash the past. We’re trying to find something fresh and exciting,” showrunner Miguel Sapochnik said in a featurette video shown during the new series’ launch on Aug. 18 at the SM Mall of Asia Music Hall.

House of the Dragon is a 10-episode series based on George R.R. Martin’s 2018 novel, Fire & Blood. The series is set 200 years before the events of Game of Thrones, the medieval fantasy series that became a cultural phenomenon during its eight-season run.

The events happen in a period of history known as “The Dance of the Dragons,” a conflict that erupts between rival siblings Prince Aegon Targaryen and Princess Rhaenyra Targaryen over the right to sit on the Iron Throne after the demise of their father, Viserys I.

The showrunners are Ryan Condal and Mr. Sapochnik, who directed half-dozen Game of Thrones episodes. The Emmy-winning composer Ramin Djawadi also returns for musical scoring in the series.

“There was this once great day where there were dozens of Targaryen running around and a bunch of dragons and they ruled over Westeros. It was a time of peace and prosperity. And everybody knew that if you mess with the Targaryens, you would get the dragons, so nobody dared to overthrow them,” said Mr. Condal, who is also the show’s executive producer and writer, in the featurette.

“This period of Westeros was a very decadent time. And so, you get to see what the realm looks like before it descends into the detritus and post decadence and war that you see in the original series,” Mr. Condal added.

The first episode begins with King Viserys Targaryen deciding between his dutiful daughter, Princess Rhaenyra, or violent brother Prince Daemon as his successor on the throne.

“For me, the best fiction, the best drama is about characters. House of the Dragon is a story about very flawed human beings capable of love and hate, capable of doing good things, [and] capable of doing monstrous things,” said author Mr. Martin, who is also executive producer of the series.

The show stars Paddy Considine as King Viserys; Matt Smith as Prince Daemon; Emma D’Arcy as Princess Rhaenyra; Tom Glynn-Carney as Prince Aegon; Rhys Ifans as Otto Hightower, the Hand of the King; Olivia Cooke as Alicent Hightower, daughter of the Hand of the King; Steve Toussaint as Corlys Velaryon; and Eve Best as Princess Rhaenys Velaryon, wife to Lord Velaryon.
“I genuinely hope that audiences are open to watching a new chapter in the Game of Thrones saga,” Mr. Sapochnik said.

House of the Dragon streams on HBO Go. — Michelle Anne P. Soliman

Toyota PHL banks on more affordable cars for growth 

BW FILE PHOTO

CAR manufacturer Toyota Motor Philippines Corp. is banking on its more affordable product offerings for future growth as local vehicle sales approach pre-pandemic levels.

Jose Maria M. Atienza, the company’s senior vice-president and division head for marketing, new mobility, and vehicle logistics, said during an episode of BusinessWorld’s One-on-One online interview series on Monday that the company is eyeing more sales in the lower part of the vehicle consumer market.

“The Philippine market is in the stage of motorization, meaning increasing the vehicle density per population. It is quite linked to the level of the Philippine economy,” Mr. Atienza said.

He added that growth is expected in the lower-end segment of the market “because of our population and what most of the population can afford.”

“By lower-end, we’re saying around P1 million and below,” he said.

“We are in anticipation of that growth in the lower-end segment. We are reinforcing our product line-up in that area. We recently launched the Lite Ace for the affordable commercial vehicle segment,” he said. “On top of that, we also reinforced our line-up with the lower-end models like the Raize, Avanza, and Veloz.”

Mr. Atienza said that the local industry’s sales are approaching pre-pandemic levels, signaling its recovery.

“Based on January to June (2022) sales, the market was around 85% to 90% versus 2019 levels. It is well on its way to recovery. It also shows around 15% to 20% growth from [the] previous year. The market is recovering,” he said.

“For TMPC, we’d like to target the same level as 2019 or pre-pandemic levels. We are looking at 160,000 to 162,000 units sold (this year). We are on our way after [more than] 80,000 units sold from January to June period,” he added.

Meanwhile, Mr. Atienza mentioned that the stronger local adoption of electric vehicles will take some time due to their high cost.

“Recently, those (electric vehicles) being introduced are quite still expensive because of the very expensive technology. It will take some time. Again, we see it as soon as we introduce more affordable vehicles, then it is picking up,” he said.

With this, Mr. Atienza said that the company has been focusing on electrified vehicles or hybrid vehicles to address the high prices of electric vehicles and the availability of charging stations.

“Especially for battery electric vehicles, we need charging stations. That is why we are focusing on hybrid vehicles because it is what we can use and what we need now in the absence of charging stations,” he said.

“We’re happy to note that there is a big increase in electrification, especially for Toyota. We’ve increased our hybrid electric vehicles sales ten-fold from 2019. This is linked to people who were very much conscious with fuel prices,” he added.

Currently, the TMPC’s hybrid offerings include the Corolla Cross hybrid, the Corolla hybrid, the Camry hybrid, and RAV4 hybrid.

Moving forward, Mr. Atienza said that risks being monitored by the company are those that will affect the prices of their vehicle offerings.

“The main risks are all those factors which make the vehicle prices higher than what the people can afford. It can be the foreign exchange rates, it can be the parts costs and additional taxes,” Mr. Atienza said.

Latest data from the Chamber of Automotive Manufacturers of the Philippines, Inc. and Truck Manufacturers Association showed that the local industry has sold 182,687 units as of end-July, up 18.4% from the same period last year.

Of the total, Toyota Philippines accounted for 94,026 units sold, equivalent to a 51.47% market share.

The local industry previously announced that it is targeting to sell 336,000 units this year, up by 17% compared with the 268,488 units sold in 2021. — Revin Mikhael D. Ochave

Most TV critics applaud House of the Dragon, others find it less magical

LOS ANGELES —  The highly anticipated Game of Thrones prequel House of the Dragon received glowing reviews from many television critics on Friday, but still has a lot to prove to others.

Three years ago, the acclaimed HBO series Game of Thrones came to a controversial end that underwhelmed some fans. The new franchise spin-off returns audiences to George R.R. Martin’s fantasy world for a series centered on the bloody civil war within House Targaryen.

House of the Dragon, which arrived on HBO Max on Sunday, scored a 76% positive rating on Rotten Tomatoes, with 124 of 164 reviews applauding the new series.

In the show, a civil war known as the Dance of the Dragons ensues between Princess Rhaenyra Targaryen and her brother Aegon II Targaryen over who takes the throne after the passing of their father, Viserys l.

Lorraine Ali of the Los Angeles Times said the spin-off “recaptures the power, grandeur of the original.”

“This fresh chapter in the saga of the Seven Kingdoms is reverse-engineered to feed into narratives and family trees that are familiar to GoT devotees,” Ms. Ali said.

“It’s best to brace now for the genealogy chatter around Houses Targaryen, Lannister, Velaryon, and Hightower, for theories connecting the future with the past and for ghoulish discussions of which series featured more graphic displays of blood, gore and guts.”

By contrast, Darren Franich of Entertainment Weekly described the opening scene as “the blandest possible orientation, Epic Fantasy for Dummies” and said the good news is that “the beginning is the worst part.”

Other critics had similar qualms with the series not living up to the original Game of Thrones when it comes to characters, plot and overall quality.

Brian Lowry of CNN saw the prequel as a “less-addictive game for an earlier throne” but said it was “not bad.”

“There are dragons aplenty, but it doesn’t produce the sort of character that defined and elevated its predecessor to prestige-TV royalty,” Mr. Lowry wrote. — Reuters

JEN Manila by Shangri-La set to permanently close

INSTAGRAM.COM/HOTELJENMANILA

JEN MANILA by Shangri-La in Pasay City will be permanently closed starting on Sept. 1 as part of the redevelopment plan for the property.

New Riviera Hotel Development Corp., the owner of the hotel building located on 3001 Roxas Blvd., announced the closure of the 308-room JEN Manila by Shangri-La in a statement on Monday.

“New Riviera Hotel Development Corp. has decided to close JEN Manila by Shangri-La permanently as part of their redevelopment plans for the property. As a result, with effect from Sept. 1, 2022, the 308-room JEN Manila by Shangri-La will cease operations,” it said.

“The hotel will continue to operate, and honor reservations made up to and including Aug. 31, 2022, after which it will cease operations. The property has operated under the Traders Hotel followed by JEN Manila by Shangri-La brand since 1995,” it added.

According to New Riviera, it is making “every effort” to support all affected colleagues through the transition, including the provision of a “fair compensation package” and extension of healthcare insurance coverage until Dec. 31 this year.

“We would like to thank all our guests, partners, colleagues for their unwavering support over the past 27 years, particularly during the challenging pandemic years. We look forward to extending our trademark Asian hospitality to guests at our four other Shangri-La properties in the Philippines,” it said.

Based on the website of the Philippine Hotel Owners Association, Inc., the four other Shangri-La properties in the country are Edsa Shangri-La Manila, Shangri-La The Fort Manila, Shangri-La Boracay Resort and Spa, and Shangri-La Mactan Resort and Spa.

The Shangri-La Group on Feb. 1 last year temporarily closed its Makati Shangri-La hotel amid the effects of the coronavirus disease 2019 (COVID-19) pandemic. — Revin Mikhael D. Ochave

Severance and its harrowing take on work-life balance

By Jelica R. Enriquez

IT is Monday morning. You shut off your phone’s alarm. After taking a quick shower, you grab last night’s leftovers as baon (packed lunch). You leave earlier than usual to beat the rush hour. Dealing with a cranky client is your first agenda of the day. As you sift through your e-mails, you think of your monthly bills and loan payments. At six o’clock, you head home. You have your dinner after taking a shower. Feeling exhausted, you go to bed — only to realize that you will do it all over again the next morning.

Now imagine the possibility of separating your personal life from your work life.

When you reach the elevator at your office, you forget your outside identity. You do not recall your bills, family issues, or failed relationships. Your sole task is to work for the next eight hours. By the time you alight the elevator at the end of the day, you remember who you are. But you do not recall what you do at work, your cranky client, and whom you work with.

If you are given a choice to separate your personal life from your work life, would you do it?

Such a scenario is the premise of Apple TV+’s dystopian mystery series, Severance. The Emmy-nominated series tells a gripping tale about the fictitious Lumon Industries, a powerful biotech company that offers its employees an opportunity to undergo “severance”: a surgical procedure that divides an employee’s personal memories from his work memories. “Severed” employees are paid generously to participate in this monumental albeit controversial endeavor.

Mark, the protagonist of the series, voluntarily signed up for Lumon’s severance program to overcome his wife’s fatal car accident. We see Mark crying in his car as he remembers his wife’s death in the pilot episode. But as soon as he steps inside the elevator at the office, his face chillingly transforms from a sorrowful husband to an aloof corporate staffer.

The first part of the series sheds light on Mark’s inability to achieve work-life balance. In literature, work-life balance has emerged as an important factor in the overall well-being of an employee. Researchers describe work-life balance as: 1.) managing one’s role in work and nonwork life, and, 2.) ensuring that there is no overlapping of the two roles. Employees who achieve work-life balance tend to be more productive.

According to the Talent Trends 2022 Report, more than half of the Filipino employee respondents chose better work-life balance over higher pay and or promotion. As companies transitioned to a work-from-home set-up because of the COVID-19 pandemic, the line between professional and personal lives has become fuzzy. The number of office group chats has increased, lengthy online meetings have become prevalent, and receiving e-mails on a Sunday has become the norm.

My former company advocated for work-life balance. The term was repeatedly highlighted in news announcements and town hall meetings. Work-life balance posters were plastered at the office. And yet, my teammates and I would find ourselves going to the office on holidays or working long hours to meet our client’s expectations. Taking a break on a weekend was just a figment of our imagination.

If I were given a chance to undergo “severance” while I was still part of that company, I would probably volunteer.

In this regard, I understand why the series’ protagonists will undergo a bizarre procedure. Their options to cope with their personal and work issues are limited.

Severance can be considered as an existential horror TV series not because of its peculiar characters, its eerie soundtrack, or its claustrophobic office scenes. What makes it terrifying is the likelihood that it can actually happen in real life. Greed-driven companies can produce human robot slaves under the guise of a work-life balance option.

But it should not be the case. Organizations are obliged to provide ethical work-life balance programs. Managers should set healthy boundaries between professional life and personal life. Employees should not undergo drastic procedures to be productive at work. Employees are expected to be professionals, and they have the right to take some time off on non-work days.

As the saying goes, there is more to life than our work.

Jelica R. Enriquez is an assistant professor and program coordinator of the Business Intelligence and Analytics Program under the School of Management and Information Technology in De La Salle-College of Saint Benilde (DLS-CSB). She teaches undergraduate-level courses in business process analysis, I.T. methodologies, and applied statistics. She has a master’s degree in Business Administration from the De La Salle University where she is currently a doctoral student and research intern. Before joining the academe, she worked as a bank marketing associate and software engineer.

***

The views expressed above are the author’s and do not necessarily reflect the official position of DLS-CSB, DLSU, its faculty, and administrators.

Smart adds 2,500 5G base stations nationwide

PLDT, Inc. said on Monday that its wireless arm Smart Communications, Inc. has added 2,500 more fifth-generation (5G) base stations across the country as of the end of June.

“As of end-June 2022, Smart has rolled out around 77,100 total base stations nationwide, supporting its 3G, 4G/LTE (long-term evolution) and 5G customers,” PLDT said in an e-mailed statement.

“This includes 7,300 5G base stations. Compared to a year ago, Smart has rolled out 2,500 additional 5G base stations across the country,” it added.

Smart deployed most of its new 5G base stations in Metro Manila, Tarlac City, Silang in Cavite, and Laguna’s Cabuyao, Lumban and Santa Rosa, among others.

Citing the latest Ericsson Mobility Report, PLDT said 5G mobile subscriptions will surpass one billion this year.

“In South East Asia and Oceania, where the Philippines belongs, 5G subscriptions were around 15 million at the end of 2021 and are expected to more than double in 2022,” it noted.

PLDT Head of Technology Mario G. Tamayo encouraged Smart subscribers to experience 5G.

“PLDT and Smart continue to invest in expanding our 5G network to make it more accessible, boosting the country’s digital transformation,” he said.

According to the group, its continued expansion puts its wireless arm’s 3G, 4G/LTE and 5G population coverage at 97% as of end-June.

“Network-related initiatives made up the bulk of the P89 billion spend for 2021. This brings PLDT’s total capex spent over the last 10 years to P518.5 billion.  Capex guidance for 2022 is at P85 billion,” it noted. 

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a stake in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin

K-pop’s BLACKPINK to release new song ahead of 9-month world tour

An image from BLACKPINK’s new music video, “Pink Venom.”

SEOUL —  South Korean K-pop girl group BLACKPINK revealed their new song “Pink Venom” on Friday, their first single in nearly two years, ahead of a planned nine-month world tour.

The teaser for the music video of the hip-hop track, the lead single of the group’s new album to be released next month, already attracted more than 130 million views on YouTube before the single’s launch.

The foursome — Jisoo, Jennie, Rose and Lisa — have become a global phenomenon since their debut in South Korea in 2016 and have collaborated with stars such as Lady Gaga, Cardi B, and Dua Lipa.

Some of their songs such as “Kill This Love” have gathered more than a billion YouTube hits, but group members have focused more recently on solo releases.

“Since it’s our comeback after a long time … we wanted to express our identity. So we put together words ‘Pink’ and ‘Venom,’ two contradictory words that will well remind you of us,” Jennie said at a media event. The band’s management agency YG Entertainment said the music video for the song, which features traditional Korean instruments, is the most expensive it has ever produced.

The new album, Born Pink, set for release on Sept. 16, presold more than 1.5 million copies in a week, double the number of the group’s first album, YG said.

“Rather than focusing on breaking records, we have really prepared for the new song so our fans and audiences can love it … (but) if we are able to break records, we would be really thankful,” Rose said.

BLACKPINK will kick off their world tour in October and visit at least 26 cities through to next June, performing to some 1.5 million fans. — Reuters

Property consultant backs passage of land use law 

A PROPERTY consultant is calling for the passage of a law on a national land-use plan to ensure that future infrastructure projects will also respond to the needs of the communities around them.

“It is not enough to have well mastered-planned pockets of development like Rockwell, BGC, Greenhills, or the Commons. You also have to fix the areas around them,” said Jaime A. Cura, RGV Group’s vice-chairman and former national president of the Chamber of Real Estate and Builders’ Associations, Inc., in a recent interview.

He said it is not difficult to understand and accept the need for a more coherent, comprehensive, and sustainable basis for future planning and construction of future projects.

He said there is a need for expensive infrastructure to have an impact on the lives of the people “who have the right to live, work and play.”

“And that’s why it has now led to the importance and urgency of passing, by legislature, a national land-use plan which has long been delayed and which must be reflected in comprehensive land-use plans for every city or municipality. It is this land-use plan — and forced through proper zoning ordinances — that holds the key to sustained, relevant, and competitive real-estate development,” he said.

The proposed National Land Use Act seeks to institutionalize land use and physical planning to determine and evaluate appropriate land use and allocation patterns by following a “National Physical Framework Plan.” The framework plan serves as a guide for the planning and management of the country’s land and other physical resources at the national and sub-national levels. It will also indicate broad spatial directions and policy guidelines on protection land use, production land use, settlement development, and infrastructure development.

It aims to clear delineation of land use categories as it will institutionalize four land-use categories, namely: protection land use, production land use, settlements and institutional land use, and infrastructure land use.

Protection land use refers to the use of land primarily for conservation purposes while production land use refers to the use of land in the most efficient sustainable, and equitable utilization, development and management of land for productive purposes, which are not classified for protection land use.

On the other hand, settlements and institutional land use cover the use of urban and rural land for the development and improvement of settlements involving the spatial distribution of population, identification of the roles and functions of key urban centers, determination of relationships among settlement areas, and the provision of basic services and facilities to such settlements.

Lastly, infrastructure land use refers to the use of land dedicated to the provision of basic services that foster economic and other forms of integration necessary for producing or obtaining the material requirements of Filipinos, in an efficient, responsive, safe, and ecologically friendly built environment. 

The bill also calls for the creation of a “National Mapping and Spatial Data Infrastructure Program” that will be implemented, coordinated, and monitored through the creation of an inter-agency technical committee composed of concerned government agencies.

The program will be responsible for the production of base and decision maps and associated spatial databases for all planning levels based on the guidelines of the National Land Use Policy Council, which will replace the National Land Use Committee under the National Economic and Development Authority.

Senate Bill 358 or the National Land Use And Management Act Of The Philippines was filed on July 11, 2019 by Senator Risa Hontiveros and has been pending in the committee since July 31, 2019, as said on the Senate of the Philippines’ website.

Similarly, Mr. Cura is proposing that the government should consider teaming up with the private sector in property projects through public-private partnerships (PPP).

“For government to develop land or any of its assets, it may either put all the necessary resources by itself, by its lonesome, or [it may] collaborate with other entities (usually in the private sector) who are more experienced, more knowledgeable, more agile and more effective in managing the resources cost-effectively,” he added.

PPP aims to engage the private sector to collaborate with the government through technology, finance, and other resources that the private sector usually manages well in the businesses that they run in the creation of infrastructure projects.

Mr. Cura enumerated three benefits of PPP for the government: lessens the risk for the two parties — both for the government and the private entity, gives a better assurance of timely completion of a project, and provides more funds to finish a project as private entities can avail of the private money in banks.

Mr. Cura said that although PPP is beneficial for both parties, the government must remain vigilant and enlightened in balancing the mindset of being the regulator and facilitator of these partnerships to ensure the proper protection of public interest against non-compliance with promised services and benefits of the private companies.

Mr. Cura is a member of the judging panel of PropertyGuru Philippines Property Awards. — Justine Irish D. Tabile

Modern market for Davao’s nextgen entrepreneurs opens

THE Poblacion Market Central in Davao City replaces the former Aldevinco Shopping Center with added offerings such as a food hall and art spaces. — COMPANY HANDOUT

THE ALCANTARA group’s Alsons Development and Investment Corp. (Alsons Dev) has formally opened its Poblacion Market Central, an expanded and modern replacement for Davao City’s iconic Aldevinco shopping center that was closed earlier this year.

Cecile Dominguez-Yujuico, president of Conrado and Ladislawa Foundation, Inc., the social development arm of the Alcantara Group, said Poblacion’s merchants are third-generation entrepreneurs whose grandparents started their entrepreneurial journey at Aldevinco.

“We are grateful that we can continue as their partners in showcasing the best of Davao and Mindanao here in Poblacion,” Ms. Yujuico said during the launching ceremony on Aug. 15.

The new market, she said, stands for the company’s commitment “to building a destination that supports the creative and entrepreneurial spirit of the next generation of Davaoenos.”

Poblacion, located in the city’s downtown area, is positioned as a lifestyle destination offering Aldevinco favorites such as handicrafts, textiles and other local goods plus artworks, food, and occasional events.

“Through Poblacion, we want everyone to know that ‘shopping’ isn’t limited to just browsing and buying items; we have enhanced and elevated this through other experiences like dining, art appreciation, monthly themed events, and having essential services — like banks — within an arm’s reach,” Ms. Yujuico said.

Alsons Dev had a soft opening of Poblacion last year with the transfer of some of Aldevinco’s long-standing tenants in temporary spaces and events such as the Mindanao Art Fair in October 2021 and month-long Christmas Bazaar.

There are currently more than 70 merchants, with more opening in the fourth quarter.

“From food to sculptures, batiks and textiles, and handicrafts, Poblacion has something for every one of our guests — whether you are a Davaoeño or a visitor to the city — who have varying shopping preferences, while also celebrating Mindanaoan culture and traditions,” Ms. Yujuico said.

Poblacion’s food hall is called Kukun, short for Kusina at Kultura ng Dabaw, meaning Davao’s kitchen and culture.

The market also features a massive mural by Mindanaoan contemporary artist Kublai Millan at the atrium area.

Alsons Dev opened Aldevinco in 1965, considered Davao’s first commercial shopping center. The company was also a pioneering real estate developer in the city with several residential projects.

More recently, it partnered with DoubleDragon Properties Corp.’s CentralHub Industry Centers, Inc. for an industrial warehouse complex near seaports in the region. — Maya M. Padillo

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