MANILA, Philippines - What’s not to love about Paris? Over the centuries, she has acquired a glory which still today shines out undiminished — an unrivalled beauty that has aroused overwhelming passion in the hearts and minds of her admirers.
Emulating such exquisite splendour is Châteaux de Paris, the French quarter of South Forbes Golf City, the largest fully-integrated, self-sustaining, and all-themed golf resort city at the forefront of the Metro Sta. Rosa – Tagaytay corridor, and recipient of the Best Golf Community Development title by the CNBC International Property Awards, the world’s most prestigious property awards programme.
Un, Deux, Trois. Châteaux de Paris presents a taste of three French design styles in three different homes: the classical Chambord, the contemporary Chantilly, and the moderne Fontainebleau — each with its unique layout to match the varying preferences of different homeowners.
The Chambord reminisces on old world charm that is characteristic of many of our parents’ and grandparents’ homes but updated to meet the modern lifestyle. From the exterior alone, the distinguished Chambord features a turret on one side of the house much like a palace, a unique feature that sets the model chateau apart from all others, hinting of romance and aristocracy. Burgundies dominate the living area accentuated by bright yellows and greens as also seen in the furniture and the art works on the wall — making the room feel sunny and bright. The master suite, which occupies the whole left side of the house, is done in warm tones with Moroccan-inspired chandeliers and light fixtures adding a layer of complexity to the room.
On the other end of the design spectrum is the Fontainebleau unit, reflective of a more sophisticated and urbane lifestyle. Clean lines, chrome and glass, textured fabrics create an interesting interplay of surfaces that makes the home cozy yet refined. Inspired by the small French hotels, the master’s bedroom is quaint with subtle touches of a vibrant red to adding interest and spice to the room.
Sources: (The Philippine Star) Updated December 04, 2009 12:00 AM
MANILA, Philippines - South Forbes Golf City, the largest fully-integrated, self-sustaining, and all-themed golf resort city at the forefront of the Metro Sta. Rosa – Tagaytay corridor, and recipient of the Best Golf Community Development title by the CNBC International Property Awards, the world’s most prestigious property awards programme, can’t seem to run out of original and innovative ideas to expand and improve its Residential Cluster. While South Forbes is known mostly for its themed villages, it does not fall short of presenting an impressive addition of condominium projects.
With Scandia Suites, South Forbes Golf City creates a new approach to contemporary living for the fast-paced professional where life is about living within and beyond the space of one’s own home.
“Scandia Suites is our answer to the call for practical living, especially for those who lead active and jetsetter lifestyles,” said Cathay Land president Jeffrey Ng. “As our first tower is ready for occupancy and sold out, we have now started on the second tower with more residential and commercial spaces.”
Dynamic Duo. The twin-tower Scandia Suites exudes the sleekness and energy of modern technology — simple, uncomplicated, efficient, innovative — a testament to the ideals of Scandinavian modernism’s pursuit for utility and purity of form.
From the main avenue, one can unmistakably identify the modernist appeal of Scandia Suites. Its use of primary colors with white holds a striking resemblance to a building made of Lego bricks, a toy originating from the same region. One enters through the driveway between the two buildings only connected by a bridge on the second level. Parking is afforded on the ground level behind the row of commercial units in front. Before heading for one’s unit, he can drop by and pick up his mail at the elevator lobby.
Chic Cribs. For those who enjoy simplicity and fuss-free living, the Scandinavian style is ideal. It is a look that has lasted more than five decades with little need for change. Scandia Suites offers four unit types to choose from: studio, one, two, and three-bedroom units. Whatever unit you choose, you are assured of total comfort and flexibility.
The option for a fully-furnished unit comes with select furniture with brands known for their style, sophistication and quality to forge a look that combines designer furnishings with natural materials, and in which form, function, and fabulous good
ooks are seamlessly and subtly integrated.
Sweet Spots. Nothing could ever get easier with the whole ground floor completely attending to the immediate needs of Scandia residents. In fact, just walking along the corridor can complete a to-do list. A double shot of espresso from the café can kick-start your day before heading for the grocery to fill up shopping essentials like food, toiletries or magazines.
After dropping the kids at the Learning Links Academy of Sta. Rosa just beside the Scandia compound, mom can get a perm at the salon next while waiting for her laundry at the Laundromat next door.
Sources: (The Philippine Star) Updated November 20, 2009 12:00 AM
MANILA, Philippines - Whenever long weekends come our way, and this month alone has two, families rush right away to the beaches, if only to escape the hurried lifestyle in the city and embrace the freedom and openness of the coastline. The perfect escapes are island beach resorts where the sea breeze blows along a white sand beach as the warmth of the sunlight releases your tension and it floats away with the tides and waves. Indeed, this experience is truly liberating.
Nestled in the international-themed Residential Cluster of South Forbes Golf City, the country’s largest fully-integrated and all-themed golf resort city at the heart of the Metro Sta. Rosa – Tagaytay corridor, and recipient of the Best Golf Community Development title by the CNBC International Property Awards, the world’s most prestigious property awards programme, are three enclaves inspired by three of the world’s most celebrated island resorts.
Breathtaking Bali. Nirwana Bali is South Forbes’ second Balinese-inspired enclave after the successful run of Bali Mansions. Residents will not want anything more than to eagerly return home from a hard day at work. They enter from the Sta. Rosa – Tagaytay Road through the wide entrance avenue into the development, called Orchard Drive, the median landscaped with stately Royal Palms while the outer edges are lined with evergreen trees, adding to the already idyllic setting of the site. Beside it are the cascading lagoons, water jets, and rock formations surrounded with lush tropical landscaping.
Upon entering the village, imagine a class of accommodation in Nirwana Bali that fulfils your desire for peace and solitude. Your very own stylishly appointed Balinese villa will allow you the freedom to relax in complete privacy. Equipped with spacious living facilities and modern home conveniences, three new model homes — Legian, Sanur, and Jimbaran — will provide a holiday-like experience that surpasses any star-rated hotel or resort.
Placid Phuket. As with many structures in Thailand, there exists a symbiotic relationship between nature and structure as manifested in their tradition of building beside water because the Thai believe that water refreshes and cleanses our aura and body. All three model homes available in Phuket Mansions and Phuket Estates — the traditional Taksin, the charming Chakri, and the alluring Ayutthaya bungalow — have a water element beside and around the house in the form of swimming and reflection pools.
The Phuket enclaves’ crown jewel is its majestic clubhouse, designed to accommodate functions in different environments — air-conditioned indoor, covered al fresco, and outdoor — and the function halls are enclosed in glass, creating a seamless blend between interior and exterior. The interconnectedness of the swimming pool, several reflecting pools, including the sound the running river creates, help wash away tension and leave a cleansed soul.
Scintillating Sentosa. Akin to Singapore’s most popular island resort, Sentosa Heights is prestigious with only 29 lots available, ranging from 500-1400 square meters — all offering coveted views of the golf course. With its exclusive nature of having limited lots and its location surrounded by nothing but the fairway, it realizes the Malay definition of sentosa, which means peace and tranquility.
The Raffles house understands the value of the view. Every room has a well-appointed corner where one can appreciate the beauty of nature, either with full glass panels as walls or a cozy balcony where one can lounge about. Surely, the cool, gentle breeze, the melodious birdsong, and the relaxing view can lull one to sleep in an instant.
The Stamford model unit is undisputedly the most striking among all model homes within and beyond South Forbes, being built on the steepest side of the enclave. It is a slender 4-storey home — a standard-looking 2-storey house in front but the surprise is from the back. All rooms have superb fairway views with generous sunlight and cool breeze, guaranteeing its residents perfect view and utmost relaxation.
Luxurious Leisure. The anchor of the whole development is the centerpiece world-class 18-hole South Forbes Golf and Leisure Club where membership comes free with every lot or condominium unit purchase at no activation cost.
Sources: (The Philippine Star) Updated November 06, 2009 12:00 AM
Filed under: South Forbes, manila real estate, metro manila real estate, Realtor William Floresta, Philippine Homes, Philippine Rea Estate, resorts, families, golf course, golf resort, home, trees, majestic, island, accomodation
MANILA, Philippines - South Forbes Golf City, the largest fully-integrated, self-sustaining, and all-themed golf resort city at the forefront of the Metro Sta. Rosa – Tagaytay corridor, has set itself apart in introducing an elevated standard of living through its themed enclaves, its model homes and amenities, earning it the Best Golf Community Development title by the CNBC International Property Awards, the world’s most prestigious property awards program.
Two of which have been inspired by the elegance and refinement of French and Thai royalty where ordinary people like us can have a taste of grandeur everyday: Châteaux de Paris and Phuket Mansions.
Louis was Here. The distinguished Chambord exterior already hints of a palace with a turret on one side of the house, a unique feature that sets the model chateau apart from all others, hinting of romance and aristocracy.
The interiors of Chambord were created to bring back the old world charm that is characteristic of many of our parents’ and grandparents’ homes but updated to meet the modern lifestyle. Burgundy, a rich color on its own, was accentuated by bright yellows and greens as also seen in the furniture and the art works on the wall. The dining room uses modern Louis XV furniture that is juxtaposed against a rather ornate chandelier.
The master suite, which occupies the whole left side of the house, is done in warm tones. Ceilings include Moroccan inspired chandeliers and light fixtures adding a layer of complexity to the room.
For the Pompidou. The development of the Fontainebleau chateau is reflective of a more sophisticated and urbane lifestyle. Clean lines, chrome and glass, textured fabrics create an interesting interplay of surfaces that makes the unit cozy yet refined, pleasant with an underlying sense of formality that is understood by the discerning few.
Inspired by the small French hotels, the master’s bedroom is quaint with subtle touches of a vibrant red to adding interest and spice to the room. After all, spice in the bedroom should always be a welcome thing.
Tropical Temptation. Distinctive in style, the Taksin mansion exudes the vibrancy of Thai culture inside and out. Its surroundings invite one to spend time outdoors where one feels exhilarated by the beauty of nature and lulled by the tranquil greenery. The swimming pool provides a relaxed atmosphere especially before retiring for the night.
Sources: Philippine Star (The Philippine Star) Updated November 13, 2009 12:00 AM
Edu Manzano (host), Bernadette Ramos (AVP for Marketing), Henry Sy Jr. (Vice-Chairman),
Elizabeth Sy (Senior VP for Marketing), Rogelio Cabuñag (President) and Efren Tan (VP for Sales)
SM Development Corporation (SMDC), the property arm of the SM Group, has further intensified its urban development by the unveiling of two of its latest condominium projects.
Henry Sy, Jr., Chief Executive Officer and Vice-Chairman of SMDC hosted an exclusive unveiling ceremony for its sixth and seventh condominium projects. Field Residences at SM City Sucat, Parañaque and Sea Residences within the Mall of Asia Complex (MOAC) were previewed to SM business partners and guests in August Rendezvous held at the SMX Convention Center last August 14, 2008.
Field Residences is a modern tropical designed residential condominium village in the emerging commercial district of Parañaque and just behind SM City Sucat. Occupying 78,000 square meters of land area, the ten buildings with eight- to 12-floor storeys of Field Residences are aimed to attract young professionals and middle-income families.
Sea Residences is a modern tropical residential condominium complex of six 15-storey towers on a 1.8 hectare lot along Diokno Boulevard at the Mall of Asia Complex, near the largest shopping mall in Asia. The balconied units provide unobstructed views of the famous Manila Bay and its magnificent sunset.
Expected turnover for Field Residences is by December 2009 and 2nd half of 2011 for Sea Residences.
During the unveiling, Mr. Rogelio Cabuñag, President of SM Development Corporation said:
“We are very pleased with our latest property development projects. Field and Sea Residences provide unique design features and offer outstanding investment for the family and our overseas professionals. They present opportunities to enjoy the good life and celebrate success.”
Mr. Henry Sy, Jr. reiterated SMDC’s vision, with the newly unveiled properties:
“I am personally proud of these latest development projects, because each commands a major presence in two of the most strategic locations of the metropolis. These two projects represent the growing and sustained commitment of SM Development Corporation to improve the quality of life of Filipino families by giving them access to affordable, luxurious and cosmopolitan homes. We hope that these projects, along with our existing and future endeavors, will help the Philippine economy gain competitive advantage against our neighbors by the jobs we generate, by infrastructures we build, and by the fast-pace growth we steer.”
Other SMDC executives who attended the Field Residences and Sea Residences unveiling were: Elizabeth Sy, Senior Vice-President for Marketing, Efren Tan, Vice-President for Sales; and Bernadette Ramos, Assistant Vice President for Marketing.
The Sea Residences Project Team was represented during the unveiling by Architect Adelaida Cobres, Assistant Vice President and Project Director; Sales Directors Gus Locsin and Ana Carpio.
The Field Residences Project Team was represented by Gilbert Ang, Assistant Vice President and Project Director and Sales Director Gigi Alcantara.
Sources: SM Residences
www.sea-residences.com
A group of Filipino-Chinese investors has forged a partnership with Beijing-based residential condominium and office/commercial complex developer Sunshine 100 Group for the construction of high-rise condominium to serve the country’s growing medical tourism and retirement sector.
Dr. Alfonso Siy, chairman of Sunshine 100 Pioneer Development Corporation, said the local partners will be represented by Federal Pioneer Development Corporation (FPDC) while the Sunshine 100 Group will be represented by its local unit, Sunshine 100 Holdings Philippines Inc.,
“We are both committed to invest in the Philippine property market. This project is merely the beginning of a long-term partnership between us and Sunshine 100,” said Siy, who heads the group of local investors under FPDC.
FPDC is owned by local prominent figures in the Filipino-Chinese business community led by Dr. Alfonso Siy of the Fortune Net Group of Companies, Ramon Ongkeco, Benito Ong, Yuchun Lim, Benigno Lao, and Architect Edward T.K. Choi.
Sunshine 100 Pioneer has an existing agreement with the Philippine Retirement Authority to make its projects also available for the booming retirement sector.
The group has two projects: The Sunshine 100 City Plaza-Pioneer in Mandaluyong City that would be developed ahead of its proposed residential condominium development near the Mall of Asia in Pasay City.
This means that Sunshine 100 City Plaza would be its first project outside of Mainland China, where it has developed over 20 high-rise projects translating to over 70 million square meters of residential and commercial space.
Sunshine 100 City Plaza involves the development of a one-hectare property at the corner of Sheridan and Pioneer Streets in Mandaluyong City.
It will be a four 28-storey residential towers with commercial component (Madison Square Commercial Center) will be constructed on the prime lot. The said project is designed by HEO Architects headed by Architect Edward T.K. Choi.
The project will be developed in phases with Phase One set to begin construction by the 1st quarter of 2010 and completed in two and a half to three years. Succeeding phases of development will begin upon completion of each of the four towers.
He said the project, which is positioned to cater to the middle-income segment of the market, will be offering studio, 1-bedroom bi-level units, 2-bedroom and 3-bedroom units to prospective buyers. The units are priced as low as P1.6 million for a 24.5-square meter studio unit, and as much as P5.5 million for a 75-square meter 3-bedroom unit. Prospective buyers can avail of in house, bank or Pag-IBIG financing.
Pan Lei, who represents Sunshine 100 in the Philippines, said the private enterprise saw opportunities to invest in the local residential and commercial developments.
Sources: Manila Bulletin
By BERNIE CAHILES-MAGKILAT September 28, 2009, 7:07pm
Filed under: Real Estate, metro manila real estate, William Floresta Realtor, condominium, Realtor William Floresta, Philippine Homes, Manila Real Estate, Philippine Rea Estate, Pioneer, Pioneer St., Sunshine 100
SMDC net profit surges 61 times to P1.4 billion
MANILA, Philippines - Buoyed by robust sales and higher completion rates of its various projects, SM Development Corp. (SMDC) posted a net income of P1.4 billion in the first nine months of the year, or 60.88 times the previous level of P23 million in 2008.
In a financial report filed with the Philippine Stock Exchange, SMDC said consolidated revenues surged 78 percent to P4.1 billion during the period, mainly due to the recovery in the financial markets.
Net income from operations amounted to P1.1 billion, up 83 percent from P607 million a year earlier. Realized revenues from real estate sales rose 30 percent to P3.7 billion, resulting in an expanded consolidated net income margin of 37 percent.
“We are strongly encouraged by the healthy growth in SMDC’s profits during the first nine months of this year. Our efforts to strengthen our real estate sales operations and our keen monitoring of construction costs are paying off through higher margins and better operational efficiencies. With these positive developments, we remain bullish in our business operations this year,” said SMDC president Roger Cabunag.
To date, SMDC has seven on-going projects — the fifth cluster of Chateau Elysee (a six-cluster mid-rise condominium project in Parañaque City) which is 88 percent complete; Berkeley Residences in Katipunan Road, across Miriam College and Grass Residences beside SM City North EDSA (with the first tower 47 percent complete); Sea Residences near the Mall of Asia Complex in Pasay City and Field Residences in Sucat, Parañaque.
Other projects slated to launch this year are Princeton Residences (a 37-storey condominium building located along Gilmore St., Quezon City); Sun Residences beside Welcome Rotonda in Quezon City; Jazz Residences along Jupiter St.; Light Residences in Mandaluyong City and Wind Residences in Tagaytay City.
SMDC has earmarked P7.2 billion for capital expenditures this year or 40 percent higher than the 2008 budget. Around 80 percent of the capital budget will be sourced from internally generated funds while the remaining 20 percent will come from borrowings.
Sources:
(The Philippine Star) Updated October 21, 2009 12:00 AM
Rules on real
estate investment trusts to be signed by yearend
|
MANILA, Philippines - A law that will provide the regulatory framework for
real estate investment trusts (REITS) is expected to be signed by the end of the
year, allowing the Philippines to take a significant step in recognizing the
importance of real estate as an alternative investment instrument.
During the REIT Asia Pacific Philippines 2009 Forum yesterday, Philippine
Stock Exchange president Francis Lim said the REITS, which are widely adopted in
the United States, Australia and other markets in the region, will provide new
investment opportunities for the public and reinvigorate the local capital
market.
REITS are companies that own and operate income-producing real estate which
are granted tax exemptions by the government but are required to pay out a
substantial part of their net taxable income as dividends to shareholders.
Lim said the global REITS industry has grown significantly with its market
capitalization now amounting to $450 billion, $56 billion of which is from
Asia.
“With the right legislation and property companies throwing in their crown
jewels, there’s no doubt that REITS would be a success in the Philippines,” the
PSE chief said.
On Sept. 22, the Congressional bicameral conference committee approved the
REIT Act of 2009, sending the consolidated bill to the House of Representatives
and the Senate for third and final reading. Once approved, the bill will be
submitted to President Arroyo for signing into law.
Within 90 days from the passage of the bill, the Securities and Exchange
Commission together with the Bangko Sentral ng Pilipinas, Department of Finance,
PSE, and players in the real estate industry will draft the implementing rules
and regulations of the REIT Act of 2009, Lim said.
He said REITs enable small investors to invest in large-scale real estate
ventures, through stock purchases, that would otherwise be reserved for bigger
investors. Investors no longer need to go through the traditional method of
directly buying and selling real estate properties themselves and dealing with
the administrative and commercial problems.
Among the income-generating assets that can be converted into REITS include
office buildings, residential condominiums, townhouses, apartments, shopping
centers/outlet centers, tourism-related facilities (hotels, resort facilities,
restaurants, golf courses); healthcare (hospitals, nursing homes, retirement
homes, drugstores); industrial (warehouses, R&D centers), and infrastructure
(expressways, railways, ports, power plants).
Under the proposed REIT Act of 2009, the REIT must be a public company with a
paid-up capital of P300 million and at least 1,000 public shareholders each
owning at least 50 shares of any class and who in the aggregate own at least
one-third of the outstanding capital stock of the REIT.
The REIT must distribute annually at least 90 percent of its distributable
income which is net income as adjusted for unrealized gains and losses/expenses,
impairment losses and other items and excludes proceeds from the sale of assets
that are reinvested in the REIT within one year from disposition.
At least 75 percent of deposited property of the REIT must be invested into
or consist of income-generating real estate.
Robinsons Land Corp. president Frederick Go said while the company is
interested in this new investment instrument, timing would be a crucial factor
in the introduction of REITS. “We’re waiting for the IRR. Most companies would
probably want to take advantage of the benefits that the REITS could give but
this would depend on market conditions,” he said.
For his part, Ayala Land Inc. chief finance officer Jaime Ysmael said the
REITs can provide companies the opportunity to free up capital that can be
invested in other profitable businesses.
A REIT portfolio already provides significant investment diversification as
it may include different kinds of properties in various locations including
investment in overseas markets.
Japan pioneered the introduction of REITs in Asia in 2001, shortly followed
by South Korea in the same year. In 2002, Singapore enacted its REITs
legislation, followed by Hong Kong and Taiwan the following year. Both Malaysia
and Thailand also have their version of REITs which were established in
2003.
Sources: The Philippine STAR BUSINESS / October 1, 2009
By
Zinnia B. Dela Peña (The Philippine Star) Updated October
01, 2009 12:00 AM
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THE ASHNA, one of the two-story Modern Asian hillside homes at Amiya raya
Coming home to a stress-free and all-natural environment just a few kilometers from the metro is now possible. In the hills of San Mateo, Rizal, a convenient 15 minutes away from Quezon City, lies Amiya Raya, a 36-hectares master-planned residential community designed to bring homeowners designed to bring homeowners closer to nature and away from the hustle and bustle of city life.
Developed by Landworks Asia Inc., Amiya Raya (an allusion to the Hindu Sanskrit term meaning "delightful views"), offers high-value properties with a Modern Asian design and 360 degree outstanding views of the metropolitan skyline, including La Mesa Dam, Laguna de Bay, and even the Manila Bay sunset. The property also boasts of its own 11-hectare nature park with its natural springs and waterfall left untouched.
Lifestyle offered
"There are only a few places in Metro Manila with this kind of ambiance, level and view. The place is near enough the main city centers, but far enough from the stress of city life. A few minutes away from the city, and you're in a different world. The lifestyle we offer our future homeowners is the kind that will let them recreate, relax and enjoy quality time," says Landworks President and CEO Ma. Charina S. Garcia.
The property will have its own quaint village center with cenvenient amenities such as retail shops, restaurants, a coffee shop, a clubhouse with an infinity pool and jacuzzi, community chapel, playground and a sports center with basketball and badminton courts. A viewing deck and hike trails leading to the property's very own nature park are also in the works.
Hillside home model
Although hillside properties are considered prime, the lots at Amiya Raya are pieced resonably. Lot sizes range from 150 to 600 square meters, with four hillside home models to choose from. The two-story Modern Asian units, created by Manalang, Tayag and Ilano Architects, are each designed to maximize the view, blend harmoniously with the environment, and conform to the terrain.
At the property's recent launch and groundbreaking, brokers and buyers were treated to a festive day of outdoor fun and relaxing activities such as spas, kite-flying, a bike exhibition, henna tattoos and face painting, drumbeating and fire dancers.
Amiya Raya is accessible through Batasan Hills in Quezon City, Marikina and soon from the future C6 road development.
Senate approves Magna Carta for Homeowners and Homeowners Association on 2nd reading
Bill to accord equal rights to homeowner members and non-members Senate Majority Leader Juan Miguel Zubiri on Saturday committed to approve the Magna Carta for Homeowners and Homeowners Association for third and final reading before Congress adjourns sine die on Thursday.
Senate Bill No. 3061 or the Magna Carta for Homeowners and Homeowners Association was submitted to the plenary on Wednesday and was approved on second reading after lengthy debates and additional amendments proposed by Senators Aquilino Pimentel Jr, Jingoy Estrada, Miriam Defensor Santiago and Panfilo Lacson.
He said the Magna Carta for Homeowners and Homeowners Association aims "to provide homeowners both members and non-homeowner members association their rights and duties" and to finally "put to rest the issue of jurisdiction of homeowners associations including their intra and inter-association controversies."
In his sponsorship speech, the senator defined homeowners as "not only those living in titled homes and lots in subdivisions but to lessees, awardees, beneficiaries, or occupants in government socialized or economic housing or relocation projects, and even underprivileged and homeless citizens while they are in the process of being accredited as beneficiaries or awardees of ownership rights under the CMP, LTA, and other similar programs."
Zubiri explained that "homeownership is not necessarily dependent on full and actual ownership, as even those with beneficial ownership can be entitled to the rights granted to homeowners."
He said "provided that lessees in government socialized housing projects or urban estates and those in communities of underprivileged and homeless citizens covered under the term under Section 3 (1) of this Act, will be considered as homeowners for the purpose of qualifying as a member of a homeowners' association without need of such written consent or authorization."
The Majority Leader also clarified that "all homeowners can become members of the homeowners' association and at the same time allows homeowners not to engage or member in any homeowners association as indicated in Article III, sec. 8 of the 1987 Constitution, stating "membership in homeowner's association is generally voluntary, subject only to a few exceptions recognized by the Supreme Court through various decisions on the matter."
He said that while the law recognized that membership in any association is voluntary unless it is stipulated in the contract or annotated in the title.
The proposed act likewise recognized two classes of homeowners exist, non-member homeowners and the homeowner members.
"The rights of both classes are enumerated in the proposed legislation, subject to any additional benefits which they may receive by virtue of the homeowners' association by-laws," Zubiri said.
"A non-member homeowner has the duty to pay the costs and expenses incurred by the association for the payment of basic community services."
"On grounds of equity alone, a non-member homeowner should contribute in the community expenses that redound to his or her benefit.
Membership in homeowners association on the other hand "entails more rights and responsibilities, he said.
The Magna Carta for Homeowners and Homeowners Association specifies services which homeowner members can avail such as community services and the use of common areas and facilities, including the inspection of association books and records during office hours, annual reports and financial statements, and accord them the right to vote for any elective or appointive office of the association subject to the qualification provided in the By-Laws, and participation in association meetings.
Section 29 of the proposed Act states that no homeowners shall be deprived to enjoy basic community services and facilities including common areas, as long as, he or she pays the necessary dues and charges accorded by the association by laws for such use.
SB 3061 likewise proposes that the registration of homeowners association be placed under the control of the Housing and Land Use Regulation Board (HLURB). The HLURB under Section 28 of the proposed Act "will provide free orientation to the officers of the association, registration of all associations, federations, confederations and other umbrella organizations of housing organization. It will also take the responsibility to hear and decide o intra and/or inter-corporate controversies, and conflicts among association members and non-members without prejudice to filing civil and criminal cases by the parties concerned before the regular court."
Zubiri believes that "with the passage of the Magna Carta for Homeowners and Homeowners Association there will now be clear cut guidelines on how homeowners association may conduct its operations, and provide basic services to its homeowners, as well as homeowners knowing their right as paying members."
"With this measure we will see lesser disputes between subdivisions against subdivisions, subdivision against their members, and members against other members. This Magna Carta will assist in solving several cases that are now languishing in the courts due to a lack of legislation concerning the matter. It is every Filipinos dream to own his home and it is my dream to give them some peace of mind," Zubiri said.
sources: The Philippine Star Business
Friday, June 5, 2009