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Megaworld Arranges $261 Million Financing of New Winford Casino Project: Metro Manila.

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Megaworld Corporation was established in 1989 by its founder and chairman, Dr. Andrew L. Tan. It is recognized as the country’s top township developer, office landlord, and pioneer in the Lifestyle Mall industry. In the lifestyle communities, it creates, it invented the “Live, Work, Play” concept, integrating residential, business, and commercial elements. Megaworld has built 26 townships and integrated lifestyle communities around the Philippines, totaling about 5,000 hectares of land.

Megaworld adopted technology and innovation and saw the following advantages as a result of using Amazon WorkSpaces as its primary virtual desktop solution:

  • Significant reduction in the company’s exposure risk during the current global health crisis;
  • Using remote access productivity technologies to increase business continuity capability similar to vulkan vegas;
  • Increased business resilience when local community quarantine measures are imposed.

Metro Manila

One of the most prominent regions in Asia. Its central business districts are Manila, Makati, Quezon City, Paranaque, Pasay, Muntinlupa, and Taguig City. It is home to Bonifacio Global City, known as the lifestyle center of the Metro—combining a number of the finest and largest retail malls on the planet with gorgeous Spanish colonial architecture, top-tier museums and galleries, and the world’s oldest Chinatown. Celebrity chef, author, and travel documentary filmmaker Anthony Bourdain highly regarded Manila’s vibrant bay-side Filipino city as a gourmet haven.

Casino Project

Megaworld Corporation, a subsidiary of Aliance Global Group Inc., and one of the largest land developers in the Philippines. It has agreed to invest 261 million dollars (PHP 15 billion) with Winford Resort to build a three-hectare “new integrated lifestyle community” in Manila that will include “residential condominiums, hotels, and commercial developments with a casino complex.”

According to Megaworld, the company will build this $261 million casino project at the San Lazaro Tourism and Business Park, which was formerly home to a horse racing track that the firm acquired for about PHP 1.89 billion (32.92 million) at the beginning of the year.

The “Promenade,” which is anticipated to “become a key tourist attraction in this section of Manila,” would be included in the hotel and casino project with hotels with residential apartments, commercial buildings, and a casino complex.

With its pre-war structural designs, Old Manilla served as the project’s inspiration.

The business should have specified if Metro Manila required its regulated gaming license from the Philippine Amusement and Gaming Corp., the country’s gaming authority.

The company also plans to introduce the 389-apartment One Crown Suites condominium skyscraper as part of the project. Sales from this launch are expected to total PHP 3 billion. But by 2028, it’s expected to be completely operating.

Analyzing the Philippine Market

The Travellers International Hotel Group affiliate Megaworld already owns several properties in the Philippines. It runs the integrated Resort Newport World Resorts, formerly known as Resorts World Manila, and also desires an IR at its Boracay Newcoast project on Boracay Island.

A casino complex, hotels, and commercial buildings will be part of the development, along with various residential units. In a filing with the Philippine Stock Exchange (PSE), the company claimed that Old Manila inspired the project, which features architectural styles that harken back to the pre-war era.

Winford Resort

The San Lazaro Tourism and Business Park has the Winford Resort, also known as the Winford Hotel & Casino, which is situated in Manila’s “China Town.” Although it was created in January 2016, it did not become operational until 2017.

The Resort, which has two floors of slot machines and a third floor with live table games and VIP gambling, is run by the Philippine Amusement and Gaming Corp. (PAGCOR). A poker room with the Asia Poker Tour (APT) logo offers a selection of cash games and tournaments. The Philippines is the focus of mega-big plans by Megaworld Corp. The real estate developer already owns several buildings in the nation. Still, he is eyeing a new integrated resort (IR) in Manila that will bring a new casino to the city. Through the Winford Resort integrated resort project, the city might soon get a second casino. Approximately PHP15 Megaworld would invest billion (US$261.34 million) in a “new integrated lifestyle complex” in Manila. The mixed-use complex, which spans three hectares (7.4 acres), will also have a casino.

A horse racing track in San Lazaro, close to Manila’s Chinatown, will be replaced with the “Winford Resort” development. The business acquired the land earlier this year for PHP1.89 billion ($32.92 million) from the Manila Jockey Club.

Business

Contrasting Dynamics: Industrial Space Rental Markets Across Major US Cities

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The industrial space rental market in the United States varies significantly across different regions and cities, each with its own unique characteristics, economic drivers, and challenges.

By examining examples from cities like San Francisco, Chicago, Houston, and Boston, we can gain insights into the diverse dynamics of the industrial real estate landscape.

San Francisco, California

The market around San Francisco industrial space for lease is characterized by high demand, limited supply, and premium rental rates. The city’s status as a global technology and innovation hub drives demand for industrial space to support research, development, and manufacturing activities.

However, stringent zoning regulations and land use restrictions limit the availability of industrial properties, leading to scarcity and driving up leasing costs. Additionally, the city’s dense urban environment presents logistical challenges for transportation and access, further impacting the rental market.

Chicago, Illinois

Chicago’s industrial space rental market benefits from its central location and extensive transportation infrastructure, including major highways, railways, and access to waterways like Lake Michigan and the Chicago River.

The city’s strategic position as a transportation and distribution hub makes it an attractive location for logistics, warehousing, and manufacturing operations.

With a diverse industrial base and a large inventory of industrial properties, rental rates in Chicago tend to be more competitive compared to coastal cities like San Francisco.

However, rental rates can vary significantly depending on location within the metropolitan area, with prime logistics corridors commanding higher rates.

Houston, Texas

Houston’s industrial space rental market is influenced by its role as a leading center for energy, petrochemicals, and manufacturing. The city’s proximity to the Gulf of Mexico and its extensive network of pipelines and transportation infrastructure make it a major hub for oil and gas-related industries.

Industrial properties in Houston cater to a wide range of sectors, including manufacturing, distribution, and logistics. Despite fluctuations in the energy sector, Houston’s industrial real estate market remains resilient due to its diversified economy and strategic location for domestic and international trade.

Boston, Massachusetts

Boston’s industrial space rental market reflects its position as a center for education, research, and innovation.

The city’s strong presence in sectors such as biotechnology, healthcare, and technology drives demand for specialized industrial space, including research laboratories, clean rooms, and manufacturing facilities.

Boston’s industrial properties are often located in close proximity to academic institutions, research centers, and innovation clusters, facilitating collaboration and knowledge exchange.

However, limited land availability and high development costs in urban areas like Cambridge and Somerville contribute to higher rental rates and competition for industrial space.

Overall, the industrial space rental market in the US varies across different regions and cities due to factors such as economic specialization, infrastructure, land availability, and regulatory environment.

While some cities like San Francisco face challenges of limited supply and high costs, others like Chicago and Houston benefit from their strategic locations and diverse industrial bases.

By understanding the unique dynamics of each market, businesses can make informed decisions when seeking industrial space to support their operations and growth initiatives.

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Business

Polonez America: How to Prepare a Car for Shipping to Poland?

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Polonez America is the largest shipping company in the US, focusing on commercial and personal transactions from the US to Poland and 42 other countries.

With over four decades of industry leadership, it (https://www.polonezamerica.com/en/vehicles) has been known for reliable services and good quality work by its customers. 

It offers a holistic suite of shipping solutions such as container rentals, personal shipments, commercial cargo, and vehicle shipments by air or ocean to achieve a seamless experience for their clients during shipment.

Why Vehicle Preparation Matters

So, how to prepare for shipping a car to Poland? Before going through the customs clearance, some procedures must be done. Let’s take a look at the quick guide!

  • Empty tank: Full fuel tanks lead to leakages and fumes, thereby increasing safety risks when shipping vehicles. By emptying the gas tank before shipping your car, you will eliminate these dangers, making it safer in transit.
  • Unplugged battery: When left plugged in while being shipped, the battery may lose charge, making one’s vehicle unworkable upon arrival. Unplug it so that you can save the energy level of your battery, avoiding problems associated with starting, which leads to smooth driving immediately after getting there.
  • Isolating battery cables: Accidental touching between battery cables during transport may cause short circuits, thus damaging your vehicle’s electrical system. This danger can be mitigated by isolating the wires leading to your car’s electrical components remaining undisturbed in its course of transportation.

Additional Information

  • Vehicle inspection: A thorough inspection should be conducted, noting any pre-existing damages to facilitate accountability or even help file an insurance claim should anything happen unexpectedly while in transit. All the documents must be at the ready. 
  • Personal belongings: To avoid causing any loss or damage during transit, ensure that no personal items are left inside your vehicle in accordance with shipping regulations.

By following these car preparation instructions it not only ensures car protection while moving but also assists in achieving a smoother and more efficient shipping process overall.

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Business

The Importance of Leadership in a Business

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If you have a business, you already know how competitive it can be, and if you have a flock of sheep but no shepherd to gently guide them in the direction, you are asking for trouble at worst, or a loss at best.

Having a team that doesn’t know what they are doing is not only a waste of everyone’s time but also a waste of resources. Leadership is essential in creating a bridge between the work that needs to be done, and the team members that are ready to do it.

Because of this, there are many ways in which leadership is an important component of a business.

These are some of the key reasons why leadership is important for a business and why this important factor shouldn’t be slept on!

Leaders Help Develop Employees

The employees that are there and ready to take your business to the next level are great – you already know that, you hired them! As they learn more about the business, and establish a position there, you might find that some are ready to go further.

A good leader can spot when an employee shows interest or skill in either their own or another area of the business, when they might be ready to take on more responsibility, or just when the potential is being wasted.

Leaders should be ready and willing to help employees develop to their highest potential within the business, as it benefits everyone involved. You can expect an increase in confidence and trust from your employees when you treat them as individuals, working on their strengths and not catastrophizing their weaknesses.

Leaders Make Critical Decisions

A leader is at the front guiding everyone towards a goal – they also have to make the critical decisions and judgments that will benefit the wellbeing of the business while keeping employees at the forefront of their minds.

In this role, a leader should be able to look at the “big picture” and make logically calculated decisions for the best outcome. This doesn’t mean it will always be an easy decision to make, but they are entrusted with the wellbeing of the business (which includes the employees), and their decisions should reflect that.

If you are someone who believes they can make a real difference to businesses they believe in, and lead a team in a way that fosters growth for all involved, then take a look at what careers in leadership are available for you. The world needs kind and compassionate leaders who can focus on the health of a business and take care of their employees.

Leaders Boost Morale

Do not underestimate the damage that a team under pressure, underappreciated, and overworked can do to a business.

It is seen far too often in workplaces where employees have been piled with work, or their contributions have gone unnoticed (at least to them), and they are struggling to be motivated towards the collective goal. 

A minimum wage isn’t enough to motivate employees to do their best work anymore, especially when it doesn’t even cover the cost of living.

Leaders need to provide a space where employees feel appreciated heard, and where it is clear that what they do matters – otherwise, they can easily be overworked and underappreciated somewhere else. That is when you will realize an excellent employee has slipped away too little too late.

Leaders Understand Individual Needs

Employees are human, with different skills, needs, wants, goals, and pain points. A leader knows this and will work with them so they are able to bring their best self to work.

Neurodivergent employees might need to ask more questions to gain a deep understanding of what they are doing, some employees might need to take regular breaks rather than an hour slot.

You might find even that some team members work best when they can work from home. Leaders know that not a one-size-fits-all approach will get the best out of their team and are happy to work with them to achieve that.

While a robot empire doesn’t seem to be a sci-fi film premise anymore, nurturing human development within a business will give you much more back than artificial intelligence can.

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