Latest news with #P600
GMA Network
10-07-2025
- Business
- GMA Network
Metro Manila condo oversupply eases slightly to 37 months
It will now take 37 months to sell the existing supply of condominium units in Metro Manila, a month shorter than seen in the first quarter of the year, as there are now some 82,000 unsold units across 638 actively selling buildings. According to a report released by Leechiu Property Consultants (LPC) on Thursday, there were 82,800 units of available supply in the second quarter, equivalent to 37 months or three years. This is slightly lower than the 38 months worth of oversupply recorded in the first quarter. Data released by LPC showed that there were a total of 764,100 condominium units in Metro Manila, with 619,000 units ready for occupancy and 145,000 units at pre-selling. The biggest share of unsold units is in Quezon City with 19,500 units, followed by Ortigas with 15,000 units, the Bay Area in Pasay with 13,800 units, Manila City with 11,400 units, Caloocan with 8,900 units, Alabang with 7,900 units, Makati with 4,500 units, and Bonifacio Global City and Taguig with 1,700 units. Broken down in terms of demographics, 37% of the unsold inventories are for the upscale market priced P7 million to P12 million; 31% for the upper-middle-income market priced P4 million to P7 million; 16% for the high-end market priced P12 million to P68 million; and 10% for the middle-income market priced P2.3 million to P4 million. Some 5% of the unsold units are for the lower middle-income market, priced at P1.8 million to P2.3 million; 1% are for the luxury market, priced at P68 million and above; and less than 1% are for the low-income market, priced below P600,000. Buyer activity for the April to June period grew for the second straight quarter, with 6,642 units sold to reflect a 2% quarter-on-quarter growth, as launches for the quarter increased 31% to 1,761 units. LPC Research and Consultancy director Roy Golez Jr. said that buyers took advantage of promotions being offered by developers in a bid to sell their inventories, which companies are expected to continue. More offers are likely, Golez said, but not necessarily on pricing, "so we are seeing value-added and leasing services for these buyers." Prices have also increased, with prime villages hitting historic highs per square meter—Dasmariñas Village at P704,000, Forbes Park at P649,000, Green Meadows at P288,000, and Ayala Alabang at P237,000. Prices have also increased in areas south of Metro Manila—Ayala Alabang at P237,000; Southlinks Estate at P157,000; and Ayala Southvale at P126,000. Those in Cavite averaged P68,000, and in Laguna, P57,000. 'Maraming namimili. Actually, marami nang namili (Many are buying; actually, a lot have already bought), especially in the Nuvali Sta. Rosa area, kaya (so), if you notice, the projects there have been expanding,' Golez said. —VBL, GMA Integrated News
GMA Network
15-06-2025
- GMA Network
Fishermen who recovered shabu in Pangasinan seas detail story
In Pangasinan, supposed packs of imported durian and tea were found in its waters. The sacks were later revealed to hold methamphetamine hydrochloride, or shabu. According to the Philippine National Police (PNP), 38 sacks of shabu have been recovered from Bolinao since June 5. There is an estimated 903 kilograms of shabu, amounting to more than P6 billion. Rodelito Fisherman Rodelito found the floating shabu in the morning of June 5. He was out 20 to 35 nautical miles from Bolinao in Pangasinan, which is part of the West Philippine Sea, when he hit floating items. "'Di ko naman alam kung ano 'yun. Basta kinuha ko lang. Paghawak ko, tinaas ko. Mabigat," Rodelito said on "Kapuso Mo, Jessica Soho." ["I didn't even know what it was. I just took it. When I held it, I lifted it. It was heavy."] When he opened the packages, he found 25 packs, each with different packaging. One was a pack of dried durian with printed Chinese characters, while the other was a container of refined Chinese tea. Both were packed tightly with plastic. But upon opening, he saw that its contents were white. Rodelito eventually realized that it was shabu. "Napapanood ko sa pelikula na ganun ang hitsura. Natakot ako." ["I've seen things like that in movies—that's why I got scared."] He immediately reported it to the authorities. The Dalmacia barangay captain then reported it to their chief. The Philippine Drug Enforcement Agency (PDEA) confirmed that the sacks tested positive for suspected shabu. It is estimated that the shabu Rodelito collected and surrendered to the authorities weighs 56 kilos, priced for more than P380 million. Cornelio On June 7, fisherman Cornelio was having a challenging day at work. Eventually, he spotted a floating sack right beside his boat. When he opened it, Cornelio was sure it was drugs. "Alam na alam ko kasi na droga talaga. Alam kong mahal 'yan." ["I knew for sure it was drugs. I knew it was worth a lot of money."] Although Cornelio knew that the drugs cost money and could help his family if he ever sold it, he was aware that drugs are dangerous. "Kahit mahirap ang buhay namin sa pangingisda, hindi ko naisipan na magbenta, hanggang kaya ko pang magtrabaho, magtatrabaho ako," he added. ["Life as a fisherman is tough, but I never once considered selling [drugs]. As long as I'm able to work, I'll keep going."] Because of this, he surrendered the drugs to the PNP. Darrel and John Lloyd It was father-and-son Darrel and John Lloyd who found the most floating shabu, collecting 56 sacks. They found these on the way home in the afternoon of June 6, in the towns of Bani, Agno, and Suan. "Expected ko na po na drugs 'yun. Kasi po may nauna po nung nakapulot kaysa sa amin," Darrel said. ["I already expected it was drugs because someone else had found some before we did."] They found a total of 96 kilos of shabu, priced more than P600 million. John Lloyd added, "Kahit mahirap 'yung pangingisda, hindi namin kayang ibenta 'yun. 'Pag ibinenta mo 'yun, masisira 'yung buhay mo." ["Even though fishing is difficult, we couldn't bring ourselves to sell it. Because once you do, it will ruin your life."] Weeks after the first reports of floating shabu in Pangasinan, there were more floating contrabands found in Masinloc, Zambales, found by "Randy" and his fishermen's group. There were 10 people aboard the boat when they came across the two floating sacks. At first, they thought that these held food as they were used to receiving food packs from the Vietnamese. It was only upon opening that they realized that the sacks held drugs. They surrendered them to the PNP and received P1,000 from their local government unit. The other fisherfolk are also hoping to receive honorariums for surrendering the floating shabu, as these would also help their families. "Wala po kaming pagsisisi, na sinurrender 'yung mga drugs na 'yun. Kasi po para sa kapakanan ng maraming kababayan na Pilipino," Darrel said. [We have no regrets surrendering those drugs because it was for the good of our fellow Filipinos."] Ongoing investigations Also in June of 2024, blocks of shabu amounting to almost half a billion pesos were found floating in the sea in Ilocos Sur. According to the Philippine Coast Guard, an investigation is still ongoing into whether the two events are connected. PCG added that the syndicate threw the shabu into Philippine waters possibly because of the strictness of the Bureau of Customs. "Nilalaglag po nila ito on these specific coordinates saka po ito kukunin ng kanilang mga contact," PCG said. "Possible po 'yung mga floating drugs, meron po naka-attach na GPS pero inaalam pa rin po natin. Mas mahirap bantayan po ang ating karagatan dahil mas malawak po ito." ["They drop the drugs at specific coordinates, where local contacts retrieve them. Some of these floating packages may even have GPS trackers, but that's still under investigation. The vastness of our waters makes surveillance much more difficult."] The agency added that Bataan or Zambales are where the floating shabu originated but because of the bad weather and strong current, the packages would drift to Pangasinan until Ilocos Sur. The floating shabu may also possibly come from the "Golden Triangle," located within the boundaries of Myanmar, Thailand, and Laos which is where shabu production happens. Another possible suspect is Sam Gor, a giant international drug syndicate. PDEA said, "That's a multinational drug syndicate. They are operating dito sa Asia Pacific region. Sila ang nagko-control ng 40-70 percent of distribution, sale ng methamphetamine." ["That's a multinational drug syndicate operating across the Asia Pacific region. They control 40 to 70 percent of the methamphetamine distribution and sales in the area."] The suspect behind the group is dubbed the El Chapo of Asia. He was never arrested in the Philippines, but there were drug incidents where he was connected with a group. PDEA said that in terms of recovery from the seas, this is the largest in the history of their agency. Whether or not the syndicate would be held liable would depend on the procured evidence. Meanwhile, PNP said the shabu will be disposed. PDEA also calls on fisherfolk or those in coastal areas to turnover any floating sacks for proper disposition. "We are still waiting for the final laboratory analysis to determine kung ano 'yung quantity and quality of the dangerous drugs that were discovered because this will be the basis for the rewards to be given out in this fishermen." ["We are still awaiting for the final laboratory analysis to determine the quantity and quality of the dangerous drugs recovered, as this will serve as the basis for the rewards to be given to the fishermen."] "Ang Philippine Coast Guard ay patuloy na nagpa-patrolya dito sa ating West Philippine Sea para masiguro natin na ma-check po natin ang ating karagatan kung may illegal activities na ginagawa," they added. ["The Philippine Coast Guard continues to patrol the West Philippine Sea to ensure that our waters are monitored for any illegal activity."] —JCB, GMA Integrated News
GMA Network
10-06-2025
- Business
- GMA Network
Marcos orders probe into Siquijor electric co-op amid power crisis
President Ferdinand ''Bongbong'' Marcos Jr. has directed an investigation into the operations of the Siquijor Island Power Cooperative (SIPCOR). According to Palace Press Officer Undersecretary Claire Castro, outgoing Energy Secretary Raphael Lotilla and officer-in-charge Undersecretary Sharon Garin were already summoned to resolve the power situation in Siquijor province. Short-term and long-term solutions are being enforced to address the power crisis in the area, Castro said. The provincial government of Siquijor through its Sangguniang Panlalawigan has declared a state of calamity due to the worsening power crisis. The approved resolution will empower the Provincial Government of Siquijor to access its Local Disaster Risk Reduction and Management Fund (LDRRMF), specifically the Quick Response Fund (QRF), to implement immediate interventions. Provincial Board Member Brylle Deeiah Tumarong-Quio said the declaration was based on the recommendation of the Provincial Disaster Risk Reduction and Management Council (PDRRMC) during its 2nd Quarter Meeting presided by Governor Jake Vincent Villa on May 29, 2025, following "widespread and prolonged power outages attributed to the breakdown of several power generation units operated by the Siquijor Island Power Corporation (SIPCOR)." 'The situation has led to a critical shortfall of approximately 2,250KW, severely affecting electricity supply across the province," she said. Meanwhile, Castro said Marcos is also monitoring the situation at San Juanico Bridge, which will be rehabilitated. Authorities said the restrictions on San Juanico Bridge could result in up to P600 million monthly economic losses as 14,000 vehicles cross the infrastructure daily. — BM, GMA Integrated News
GMA Network
31-05-2025
- Politics
- GMA Network
Tacloban mayor Romualdez seeks transparency in San Juanico Bridge repair project
Tacloban City Mayor Alfred Romualdez has called for full transparency and expert evaluation on the planned rehabilitation of the San Juanico Bridge, which links the islands of Samar and Leyte in Eastern Visayas. The Tacloban City Council declared a state of emergency on Thursday to expedite the mobilization of resources following the Department of Public Works and Highways' (DPWH) recommendation to limit use of the bridge due to safety concerns. 'So, to be quite frank, medyo nalilito rin ako (I am perplexed),' Romualdez said in a video statement. 'I feel the public should be given all the information pertaining to the condition of the bridge,' he added. He urged the national government to disclose the study that determined the bridge's current state and provide details on the extent of the damage and the timeline for repairs. 'This is not the first time,' he said, recalling a previous repair on the bridge 20 years ago that allowed for a six-month preparation period. Romualdez emphasized the need for independent experts to assess the bridge's condition and verify the cost of rehabilitation, which was initially estimated at P800 million but now stands at P7 billion. 'Even if you spend P7 billion, a feasibility study, a project study, and a careful analysis should have been made,' he said. He also warned against using the current crisis to justify the construction of another bridge without going through the right process. A recent assessment by the DPWH raised concerns about the bridge's structural integrity. As part of precautions, the DPWH has temporarily prohibited vehicles weighing more than three tons from crossing the 2.16-kilometer bridge. Since May 18, pedestrians have been prohibited from crossing the bridge on foot. Instead, they should use coasters and light vehicles for their safety. On Friday, the National Disaster Risk Reduction and Management Council (NDRRMC) said the restrictions on San Juanico Bridge could result in up to P600 million in monthly economic losses, as 14,000 vehicles cross the infrastructure daily. 'The abrupt imposition of restrictions has stranded more than 200 vehicles and is projected to result in monthly economic losses ranging from P300 million to P600 million,' the NDRRMC said. Among the affected sectors are food and fuel supply, delivery of healthcare services, commercial distribution, and regional trade. Aside from Tacloban City, Samar Province is under a state of emergency due to the bridge repair project. —VBL, GMA Integrated News
GMA Network
30-05-2025
- Business
- GMA Network
San Juanico Bridge rehab costs P7B, monthly loss at P600M —NDRRMC
Around P7 billion is needed for the repair and rehabilitation of San Juanico Bridge amid concerns on its structural integrity, the National Disaster Risk Reduction and Management Council (NDRRMC) said. 'The estimated cost of repair and rehabilitation by the DPWH amounts to P7 billion, and any delay in fund release would further escalate the crisis,' the NDRRMC said in a resolution dated May 25. According to the NDRRMC, the restrictions on San Juanico Bridge could result in up to P600 million monthly economic losses as 14,000 vehicles cross the infrastructure daily. 'The abrupt imposition of restrictions has stranded more than 200 vehicles and is projected to result in monthly economic losses ranging from P300 million and P600 million,' the NDRRMC said. Among the affected sectors are food and fuel supply, delivery of healthcare services, commercial distribution, and regional trade. State of calamity, state of emergency Due to this, the NDRRMC has recommended to President Ferdinand 'Bongbong' Marcos Jr. to declare a state of calamity in the entire region of Eastern Visayas. Currently, Tacloban City and Samar Province are under a state of emergency. Completed in 1972, San Juanico Bridge is the only permanent land link between the islands of Samar and Leyte. It is a vital artery of the Maharlika Highway that connects Luzon, Visayas, and Mindanao. A three-ton load limit has been imposed on San Juanico Bridge since May 15 after an assessment showed that there are significant structural compromises to the bridge. Only the middle portion of the bridge is open for motorists. This restriction halted the passage of heavy cargo vehicles, severely disrupting the transport of food, medicine, agricultural products, construction materials, and other essential commodities across the region. Green lane To ease the impact, Office of Civil Defense (OCD) spokesperson Chris Noel Bendijo on Friday said old ports and additional permits for landing craft tanks are being considered to ferry affected trucks. As the upcoming rainy season may limit the number of roll-on/roll-off (RORO) operations, Bendito said the agency is still looking into possible solutions. The OCD is planning to designate a 'green lane' for basic commodities on San Juanico Bridge. There is also a proposal to construct another bridge to have more alternative routes in the affected areas, according to the OCD spokesperson. 'Sa madaling salita po, lahat ng ating posibleng maging solusyon ay tinututukan po ng OCD (In short, all of possible solutions are being studied by the OCD),' Bendito said.—AOL, GMA Integrated News
