Ultra-luxury condo of Sy-blings, Ty-blings losing luster? The Estate Makati profit plunges 62% in H1

Sales in a joint ultra-luxury condominium project of the Sy and Ty families have hit the skids in the six months through June this year.

SM Prime Holdings reported that its 50 percent share in ST 6747 Resources, a joint project with Federal Land, generated a net income of P35 million in the first half, down by 62 percent from P93 million in the same period in 2021.

ST 6747 lost P18 million in the second quarter after booking P53 million in income in the first quarter.

Property consultants claim that the luxury residential segment in the property market has held up well since the pandemic struck in 2020.

ST 6747 is currently building a 53-storey tower designed by British design and engineering firm Foster+Partners along Ayala Avenue in Makati.

The project, which was launched in 2019 and set for turnover in 2023, is selling its units at over P500,000 per square meter.

The project, which was launched in 2019 and set for turnover in 2023, is selling its units at over P500,000 per square meter.

DOE raises RE utilization percentage for on-grid areas

The Department of Energy (DOE) has increased the percentage of the utilization of renewable energy for on-grid areas from one percent to 2.52 percent in line with the administration’s goal of transitioning towards a sustainable and clean energy future.

DOE raises RE utilization percentage for on-grid areas

The Department of Energy (DOE) has increased the percentage of the utilization of renewable energy for on-grid areas from one percent to 2.52 percent in line with the administration’s goal of transitioning towards a sustainable and clean energy future.

DOE raises RE utilization percentage for on-grid areas

The Department of Energy (DOE) has increased the percentage of the utilization of renewable energy for on-grid areas from one percent to 2.52 percent in line with the administration’s goal of transitioning towards a sustainable and clean energy future.

Germany raids properties belonging to Russian oligarch

German investigators on Wednesday raided properties belonging to a Russian oligarch suspected of tax evasion and breaking EU sanctions, police and prosecutors said, with sources naming billionaire Alisher Usmanov as the target.