Property

Villa Escudero Corp., the company behind the well-known tourist destination in Tiaong, Quezon, has started building its first major commercial and retail project as it expands into property development.

The Department of Human Settlements and Urban Development (DHSUD) has ordered a three-month moratorium on housing loan payments for qualified borrowers of the National Home Mortgage Finance Corp. (NHMFC), as the government moves to blunt the impact of surging fuel costs tied to tensions in the Middle East.

Megaworld Corp., the listed property development arm of tycoon Andrew Tan, said it is set to turn over about P21 billion worth of major properties this year as it accelerates development across its township portfolio nationwide.

CLI Hotels and Resorts, the hospitality arm of Visayas-based Cebu Landmasters Inc., has opened Radisson RED Cebu Mandaue, marking the entry of the Radisson RED brand into the Philippines and expanding its hospitality portfolio.

Property developer Arthaland Corp. has started construction of a new mixed-use condominium project in Katipunan, Quezon City, aimed mainly at students from nearby schools such as Ateneo de Manila University and Miriam College.