Metro Pacific deals add value to its realty interests

EVEN AS METRO Pacific Corp. appears

to be taking a leading role in

convergence with its controlling stake in

the Philippine Long Distance Co. and

PLDT's recent acquisition of Philippine Home Cable Holdings

Inc., it seems that these strategic moves will add value to the

group's real estate interests.

Stonecrest and Canyon Woods Residential Resort, two

high-end properties of Metro Pacific subsidiary Landco Pacific

Corp., attest to the coming together of these value-added

services. PLDT is the exclusive landline supplier for Stonecrest,

while Smart Communications is the one for Canyon Woods.

Though PLDT now happens to be part of the Metro Pacific

family, the decision to rely on PLDT landlines was reportedly

made before the acquisition.

''For one, it is easier for PLDT to service Stonecrest because it

already has an existing infrastructure in San Pedro, Laguna,''

said Ayee Octa, Landco's associate project officer for

Stonecrest. She noted, however, that it facilitates the

implementation for the service provider to be part of the same

corporate group.

The fiber-optic infrastructure would also support Internet and

multimedia applications, and Stonecrest naturally also has

provisions for cable services. Asked if Home Cable will supply

the cable services for Stonecrest, Octa replied, ''We're not sure

yet if it's going to be Home Cable. For Internet access, we still

don't have a list of choices for Internet service providers."

Internet access will also be one of the value-added services that

Canyon Woods will offer for its business center. According to

Regina Zamora, assistant customer services officer at Canyon

Woods developer Tagaytay Grassland Co. Inc., they are now

evaluating the proposals of several ISPs, including Mosaic

Communications and PLDT subsidiary Infocom Technologies.

''We're looking at it very seriously. But first we have to stabilize

the telephone lines,'' she said.

Zamora pointed out that right now only the main clubhouse has

been wired already, so the priority is to roll out landlines for the

residences.

''We're trying to get Home Cable because they have a good

proposal. With Home Cable coming in, we'll get more channels,

and that adds value for the residents,'' she added.

At Stonecrest, Octa toured the media people inside the model

unit designed by San Diego, California-based Westberg+White

and executed locally by C.A. Ventura and Partners. This

featured contemporary American design accented by Spanish

influences, with high ceilings to create a comfortable, airy

atmosphere. Maricar Xerez-Burgos, daughter of Landco

president Alfred Xerez-Burgos, executed the interior design.

The model unit would reportedly cost P12 million unfurnished.

Meanwhile, Canyon Woods offers a wide range of residential

units, including townhomes and cottages.

The Maqosa homes, which are located near the residential

resort's artificial lake, feature the distinctive stonework of the

Igorots.

Other resort amenities include indoor and outdoor swimming

pools, a campsite, and a minigolf course.

While Stonecrest is meant to be a first home, Canyon Woods is

aimed at providing an alternative to Baguio as the location for a

summer or vacation home. Zamora said that while they were

originally targeting Manila residents, lately buyers from

Southern Tagalog are also choosing to build their first homes in

Canyon Woods.

''The lots are almost 86 percent sold, while Canyon Homes are

almost 90 percent sold," she said. This is for Phases 1 and 2.

According to her, the company is already making plans for

Phase 3 that would have a full-blown golf course, while their

long-term plans would include a condominium hotel or condotel.

July 13, 1999

Lessons from an

angry volcano

Losing a crutch

Metro Pacific deals add

value to its realty interests

Land-use bill to prevent

haphazard conversions

Lower office rental