Introduction (PH & Cebu, PH)
The BLOQ Phenomenon
BLOQ Gets Bigger
Sustainable Growth
Expanding Opportunities
Vision
Our Driving Principles
Project Locations
The Discipline of Location
The Philippines is one of very few countries in the world that had a growth rate of 6-7% in the last decade. As a result, the Philippine property market has humbly become one of the most valuable in all of Southeast Asia in recent years.
Driven by keener foreign investor interest, increasing foreign remittances, and higher purchasing power by an expanding middle class, the Philippine economy is resiliently and steadily gaining more economic vigor.
This year, the Philippine property market is expected to achieve double-digit growth, with real estate values seen scaling all-time highs across all sectors, according to Leechiu Property Consultants (Gatpolintan, 2019).
As the Trade Liberalization Act of the Philippines is poised to be relaxed, this may increase foreign investments coming to the country because of the lower capital requirement. Similarly, the government’s discussions on the actualization of the Real Estate Investment Trust law may spur more investment in the retail market.
The outlook is heavily filtered with sunshine when it comes to the Philippines: sectors like hospitality, BPO, e-commerce, logistics, and offshore gaming are keeping a positive trajectory and will result in further widening the country’s real estate landscape.
Over the years, Cebu has been asserting that it has a mind of its own. Defying the label as a mere next wave city from Manila, it sticks by its stance that the Philippines’ Queen City of the South is a destination and a city that is a regional force to reckon with.
Beyond being just an alternative from the capital, Cebu, with its distinct local language and pride, looks globally as a formidable trading and leisure hub. Its attractiveness to foreign investors and visitors is impossible to ignore. The city’s tourism gains are evident in its robust hotel occupancy rates, construction spike, short lease market, and others. The city is seeing more and more leisure investments.
National real estate players have long taken notice and have tried to exercise their clout by influencing market prices. Local developers strategically began teaming up with international brands and have shown their strength based on a most valuable asset: intimate local knowledge. The locals know their land and their own potential all too well.
Cebu’s new and modern airport further increased its access to the world. More infrastructure is in the pipeline: the Cebu-Cordova Bridge, the Metro Cebu Expressway, Cebu-Negros Link Bridge, Cebu-Bohol Link Bridge, and a Bus Rapid Transit System. These are set to drive efficiency and extend the reach of Cebu’s might to neighboring cities, provinces, and the rest of the world.
BLOQ’s trailblazing success is a testament to Cebu’s independent mindset. Founded by a passionate husband and wife team who entered the real estate market with refreshing but measured boldness, BLOQ chartered its own territory by turning its back on the traditional market segments served by traditional real estate players.
When BLOQ started, no developer even brought the market of young professionals into their conversation.
BLOQ’s founders dared to ask “Why not?” and the rest, it would seem, is history.
Ten steps ahead in understanding the cultural and economic shift brought by the millennial generation, the BLOQ brand is a success story that continues to grow. Its triumph also goes beyond typical success metrics; its success in empowering Cebu’s millennials as viable first time real estate buyers must be celebrated.
Since its launch in 2011, BLOQ launched four sold-out projects in key locations and has effectively sold a total of 436 units to hundreds of proud unit owners.
Condominium units don’t normally sell like iPhones, but BLOQ’s formula with accessible price points of designer modern units, locations steps away from universities and business districts, and unique marketing approach, made the units take off with a sales velocity that broke market records.
0
Sold-out projects0
Total Units SoldYear on year, BLOQ’s sales growth is on an upward trend since the first BLOQ tower was launched. BLOQ has sold a total of P710 million worth of residential units.
BLOQ’s profitability steadily grows and it has managed to keep a profit margin of 30-40% over the years with a NIBT of 20-30%.
BLOQ enjoys the support of local top brokers, and its online and direct sales prove that buyers believe in the track record of BLOQ as it is highly attuned to the current needs of Filipino young professionals.
₱710 million
Worth of residential units sold
30-40%
Profit Margin over the years
20-30%
NIBT over the years
₱6.6 billion
Sales*
5,100
Homes**Projected in 5 years
Amidst the Philippines’ growing economy and population, the country faces a massive housing need of about 12.5 million housing units by 2030. Low-income Filipino families have long been underserved. Currently, shelter agencies and private developments produce about 200,000 homes and this number cannot meet the demand, potentially resulting in a housing backlog of 6.5 million homes. The Philippines is targeting to increase housing supply by 7 million homes for 2023-2030 and this is only possible through collaboration with private sector.
BLOQ aims to contribute to nation-building and respond to the call of the government for support in providing attainable housing solutions to low-income Filipino families.
In 5 years, RFK Holdings, Inc. (RFKHI) plans to deliver 5,100 homes with a projected sales of P6.6 billion. This will be delivered through BLOQ Residences and other projects.
BLOQ Vision
RFKHI aims to create optimum value for the homes we offer to our buyers. It chooses the best possible locations within the city, planning every square meter of livable space well and creating homes that are affordable to the market we serve. RFKHI creates value in using reliable construction methodologies, investing in tested and proven materials, and delivering firmly to its commitment of building with integrity, and based on all the right specifications.
RFKHI values and develops its relationships with architects and designers in creating beautiful, useful, live-able, and practical spaces for all its buyers. Careful, personal planning is involved in every design and construction process.
RFKHI holds this value dearest as it makes sure to deliver products that are both its pride and joy. RFKHI cannot emphasize enough to its buyers that it will not deliver a product that the founders would not want to live in.
Currently, we have four sold out projects in locations for our BLOQ projects as of 2019.
BLOQ Talamban
BLOQ Sikatuna
BLOQ Centro Mandaue
BLOQ Pagsabungan
Every BLOQ rises at the heart of Cebu City’s urban spaces. All properties lie within the border of Metro Cebu’s North and South districts.
BLOQ is always strategically positioned in communities with well-developed rental markets for apartments and dormitories.
BLOQ’s locations speak to individuals with thriving careers in the city specifically in the areas of Cebu Business Park, IT Park, Fuente, Cebu Uptown, and Cebu Downtown.
BLOQ provides living solutions to hardworking breadwinners from neighboring towns of Talisay, Minglanilla, Consolacion, Liloan, and Lapu-lapu City who seek in-between homes during weekdays to save time and travel expenses.
Each BLOQ tower is easily accessible to public transportation. Taxis are common on the routes along our projects due to high concentrations of commuters from universities and downtown areas. With a few steps, residents can take jeepneys plying the route for business districts and universities.
With Cebu as an education hub for Southern Philippines, BLOQ’s locations attract students studying in the neighboring universities.
Cebu is home to the top universities producing top graduates for management, medicine, law, engineering, architecture, and arts.
RFKHI believes in the value of good design. Simple and eloquent solutions will transcend trends. Utility and form both hold equal value.
BLOQ applies the discipline of restraint. Restraint in the palette of materials. Restraint to prioritize what delivers value to our residents. In simplicity, BLOQ delivers more; allowing its residents to focus on what truly matters in life.
The simplicity of choice: Studio or Loft. Freedom and Independence.
Within the next 5 years, BLOQ is seizing opportunities in various metropolitan cities of the Philippines like Metro Manila, Davao, Cagayan de Oro, and Iloilo while continuing its strategic expansion in Metro Cebu. As millennials grow in size and in their purchasing power, the country’s bullish growth paves the way to a widening segment of individuals drawn to the BLOQ brand and lifestyle.
BLOQ is eager to forge partnerships in its move to raise a capital investment of P1B (USD20M) to support its growth.
Holding Company
RFK Holdings, Inc. is a real estate development company born in Cebu, Philippines dedicated to building and selling design-oriented homes. Founded by the husband-and-wife tandem of Richard Ray and Fiona King, RFKHI came about because of the couple’s long search for the ideal home which would fit their personal preferences and budget. Their firsthand experience made them see the challenges that new couples also face when looking for a home.
A Product of RFKHI
BLOQ Residences shone the light on new real estate buyers - first time buyers - who would finally discover that real estate purchase need not be complicated, prohibitive, and frustrating. BLOQ Residences spoke the language of and pulsed with the heartbeat of the independent, ambitious, and hardworking young Filipino who is at long last empowered to make the bold move of owning his or her own first home.
As BLOQ Residences reached exponential highs, RFKHI rose as the holding company that expands the horizon for more ambitious projects that are poised to garner record-breaking sales in the various markets it serves.
Fiona King is a licensed real estate broker who figures actively in Cebu’s real estate scene; she was the 2016 President of Philippine Association of Real Estate Boards,Inc-Cebu Real Estate Board, Cebu’s premier real estate board. She is now actively serving as a National Director for the Organization of Socialized and Economic Housing Developers of the Philippines OSHDP. She is also a dedicated mother of 4 who believes that the best is always within reach.
Richard Ray is a licensed civil engineer who has a strong appreciation for good architecture, and is a hardworking business strategist whose extraordinary talents range from finance to visual arts. He proves his mettle in numerous industries but remains strongly passionate about construction and design.
RFKHI and BLOQ Residences have generated significant media buzz and have partnered with credible media outlets to deliver the brand message.
2019 - Onwards
BLOQ San Nicolas
BLOQ Sikatuna
BLOQ Lahug
2019 will be a year that further showcases the emergence of new trends and opportunities in the Philippine real estate industry. The cultural shift led by the millennial generation to a community-based lifestyle will drive the popularity of co-working and co-living in the Philippines. The increasing demand for co-working spaces will encourage more foreign flexible space operators to increase their presence in 2019.
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