DOCSLIB.ORG

KMC Cebu Office Briefing 4Q2020

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
KMC Cebu Office Briefing 4Q2020 KMC Research Cebu Office Briefing 4Q 2020 Cebu | Office Briefing Cebu Business Districts Future Stock (2024) MAP 1 OAKRIDGE BUSINESS PARK CEBU CITY CEBU IT PARK NORKIS MANDAUE CITY CYBERPARK LAPU-LAPU CITY CORDOVA CEBU MANDANI BAY BUSINESS PARK CEBU ABOITIZ - AYALA DOWNTOWN BUSINESS PARK AREA NORTH MACTAN NEWTOWN RECLAMATION AREA SM - AYALA SOUTH JOINT VENTURE ROAD PROPERTIES SM SEASIDE CITY CEBU COMPLEX CITY DI MARE 505,623.0 sq m 437,499.1 sq m 362,640.8 sq m CEBU IT PARK CEBU BUSINESS PARK CEBU FRINGE Source: KMC Savills Research DEVELOPMENT PIPELINE (2021-2024) CURRENT STOCK TABLE 1 Key Figures - Grade A Office Cebu Business Cebu IT Cebu 4Q 2020 Unit Cebu Park Park Fringe PHP/sq m 580.8 619.7 513.7 577.4 Average net rental rate USD/sq ft 1.12 1.19 0.99 1.11 PHP/sq m 650.0 700.0 550.0 700.0 Upper net rental rate USD/sq ft 1.25 1.35 1.06 1.35 Vacancy rate (%) % 15.5% 23.6% 16.6% 15.1% Current stock (sq m) sq m 380,339.1 378,280.0 272,884.1 1,031,503.2 Development pipeline sq m 57,160.0 127,343.0 89,756.7 274,259.7 2021-2024 (sq m) Source: KMC Savills Research 2 4Q 2020 Cebu GRAPH 1 GRAPH 2 Stock & Vacancy Supply & Take-up Cebu Grade A Office Supply Cebu Grade A Office Stock Cebu Grade A Office Take-up Cebu Grade A Office Vacancy Rate 160 1,500 25% 120 1,200 20% 80 900 15% 40 '000 sq m (GLA) '000 sq m (GLA) 600 10% 0 300 5% -40 0 0% 2013 2014 2015 2016 2017 2018 2019 2020 2021F 2022F -80 2013 2014 2015 2016 2017 2018 2019 2020 2021F 2022F Source: KMC Savills Research Source: KMC Savills Research GRAPH 3 GRAPH 4 Rental Performance Development Pipeline by District Cebu Fringe Cebu Rental Growth, YoY Cebu Business Park Cebu Grade A Office Rental Index Cebu IT Park 160 30% 160 140 20% 120 120 10% 100 0% 80 1Q 2009 = 100 80 -10% '000 sq m (GLA) 60 -20% 40 40 -30% 1Q20093Q20091Q20103Q20101Q20113Q20111Q20123Q20121Q20133Q20131Q20143Q20141Q20153Q20151Q20163Q20161Q20173Q20171Q20183Q20181Q20193Q20191Q20203Q2020 0 2020 2021F 2022F 2023F 2024F Source: KMC Savills Research Source: KMC Savills Research MARKET IN MINUTES ■ Overall vacancy in Cebu increased during the quarter and finished the year at an all-time high of 18.8%. All submarkets continued their slide from the previous quarter, with Cebu Business Park (CBP) and Cebu Fringe recording 8,300 sq m and 2,200 sq m of office space vacated, respectively. The biggest loser for the quarter was Cebu IT Park (CITP) which registered 89,200 sq m of vacant office space. Due to low demand from the opening of Central Bloc Tower 2, vacancy rates in the area grew to 23.6% in 4Q/2020. ■ Declines were seen across the board as landlords coped with the increased competition from recent vacancies and upcoming releases. CBP rents took the hardest hit, reversing its 2019 gains with a 3.3% drop YoY. This brought average rents in Cebu a 1.3% quarterly decrease at PHP 577.4 per sq m / month, dropping by 2.3% in 2020. We forecast rental rates to continue its downward trend as the market deals with the new supply in the coming months. ■ Around 149,800 sq m of fresh Grade A office supply is expected to come online in 2021. Demand is foreseen to remain muted due to weak leasing activity. As of year-end, more than 95% of this scheduled new inventory is still available in the market. This surplus may continue in the long term as Cebu deals with the effects of the pandemic. kmcmaggroup.com/research | 3 KMC Savills, Inc. Please contact us for further information Michael McCullough Fredrick Rara Managing Director Senior Manager [email protected] Research and Consultancy [email protected] Melo Porciuncula Gerold Fernando Executive Director Executive Director Investor Services Transactions and Advisory Services [email protected] [email protected] Rosario Carbonell John Corpus Executive Director Executive Director Transactions and Advisory Services Transactions and Advisory Services [email protected] [email protected] Rita Kash Karen Golez Senior Director Senior Director Transactions and Advisory Services Transactions and Advisory Services [email protected] [email protected] Since 2009, KMC has provided clients with award-winning real estate services. KMC delivers world-class service strengthened with local market expertise. With over 200 employees involved directly in transactions for office, investments, industrial & hotel locators, as well as residential properties, KMC is a full-service real estate firm that has successfully become the leading local firm in the Philippine real estate services industry. This bulletin is for general information purposes only. Whilst every effort has been made to ensure its accuracy, KMC accepts no liability whatsoever for any direct or consequential loss arising. The bulletin is strictly copyright and reproduction of the whole or part of it in any form is prohibited without written permission from KMC..
Load more

Recommended publications
  • Mandani Bay Quay Tower 2 Brochure
    THE MANDANI BAY DIFFERENCE Features and elements that set the township apart from other developments TRANSFORMING CEBU INTO A Strategic Location WORLD-CLASS LIFESTYLE DESTINATION Mandani Bay is sited between the cities of Cebu, the Philippines’ oldest city and main domestic shipping port, and Mandaue, a significant center of trade and commerce in the Visayas and known as the country’s Furniture Capital. Panoramic views and easy access Strategically located along the Mactan Channel in Mandaue City, Cebu, points frame the expansive community. Mandani Bay is a world-class 20-hectare waterfront development with a stunning view of the coast and encompassing cityscape. Residential towers rise from podium blocks interconnected by footbridges, exclusive parking links buildings at the base, and wide boulevards, a 500-meter water frontage, and a tree-lined central avenue together create a lifestyle of connectivity in the community. Artist’s Impression Artist’s Impression Mandani Bay has set the bar for a new era of development in the Philippines. Impressive Scale Element of Water Mandani Bay spans 20 hectares and will have 21 towers. Residential, commercial, office, and recreational components have been designed to seamlessly blend One of the most defining with expansive features including Lifestyle Spaces and podium amenities. characteristics of Mandani Bay is its harbourside setting. The extensive water frontage stretches Artist’s Impression 500 meters and the Boardwalk that underlines it will feature retail Master-planned Layout spaces and restaurants.
    [Show full text]
  • Cebu-Ebook.Pdf
    About Cebu .........................................................................................................................................2 Sinulog festival....................................................................................................................................3 Cebu Facts and Figures .....................................................................................................................4 Cebu Province Towns & Municipalities...........................................................................................5 Sites About Cebu and Cebu City ......................................................................................................6 Cebu Island, Malapascus, Moalboal Dive Sites...............................................................................8 Cebu City Hotels...............................................................................................................................10 Lapu Lapu Hotels.............................................................................................................................13 Mactan Island Hotels and Resorts..................................................................................................14 Safety Travel Tips ............................................................................................................................16 Cebu City ( Digital pdf Map ) .........................................................................................................17 Mactan Island ( Digital
    [Show full text]
  • Cebu Landmasters Launches Iconic Tower and Home of Sofitel Cebu City, to Open in 2025
    Cebu Landmasters launches iconic tower and home of Sofitel Cebu City, to open in 2025 In anticipation of a robust economic recovery in the next few years, leading VisMin developer Cebu Landmasters unveils an iconic tower planned by the designers of the world’s most acclaimed skyscrapers, Skidmore, Owings and Merrill (SOM) in tandem with one of the country’s top architects GF Partners and Architects. Masters Tower Cebu, set to be completed in 2025, will offer prime office and retail spaces and the first five-star luxury hotel in the Queen City of the South. Sofitel Cebu City will be operated by multinational chain Accor, a world leading hospitality group headquartered in France. The tower is Cebu Landmasters' most iconic architectural structure to date, building a towering crown- like structure to represent the “Queen City of the South”. The development valued at over Php4 billion will rise on a 2,840 sqm property considered to be the remaining prime corner lot in the Cebu Business Park, Cebu City’s prestigious central business district. The architectural masterpiece will top-off at 192 meters above sea level and will be among the top three tallest structures in the metropolis. It will have a structural height of 172 meters high, with an architectural design inspired by the best of Cebuano creativity and craftsmanship, and with sustainability as one of its cornerstones having been conceptualized to use energy and resources efficiently and responsibly. Groundbreaking of the LEED-registered Masters Tower Cebu is slated for the second quarter of 2021. CLI is aiming for the building’s LEED Gold certification.
    [Show full text]
  • Building a Strong Platform for Recovery, Renewed
    2020 INTEGRATED REPORT BUILDING A STRONG PLATFORM FOR RECOVERY, RENEWED GROWTH, AND RESILIENCE Ayala Land’s various initiatives on stakeholder support, investment, and reinvention pave the way for recovery PAVING THE WAY FOR RECOVERY AND SUSTAINABLE GROWTH The ongoing COVID-19 pandemic and the natural calamities that of digital platforms to reach and engage buyers. Staff of APMC, struck the Philippines in 2020 are still being felt by Filipinos to this the company’s property management firm, stayed-in its managed day. Ayala Land’s swift response to face these challenges showed properties and communities while the enhanced community the resilience of both the company and its people. quarantine was enforced. In a strategic pivot, ALIzens executed a five-point action plan— Helping the Community protecting the workforce, financial sustainability, serving customers, Ayala Land employees raised PHP82.6 million under the Ayala helping the community, and thinking ahead towards recovery. Land Pays It Forward campaign to provide medical supplies and This action plan enabled Ayala Land, its employees, and its personal protective equipment to three COVID-19 designated communities to withstand the challenges and position for recovery. treatment hospitals. The company helped raise PHP425 million for Project Ugnayan and allocated PHP600 million in financial With the continued trust and confidence of its shareholders and assistance to more than 70 thousand “no work-no pay” contingent stakeholders, Ayala Land will count on bayanihan (community personnel during the critical first weeks of the quarantine. spirit) to move forward and pave the way for recovery and Recognizing the difficulties of its mall merchants, Ayala Land sustainable growth.
    [Show full text]
  • CEBU | OFFICE 1Q 2018 9 March 2018
    Colliers Bi-Annual CEBU | OFFICE 1Q 2018 9 March 2018 Offshore Forecast at a glance Demand Total office transactions reached nearly gambling rises 107,000 sq m (1.2 million sq ft) in 2017. Offshore gambling is an emerging office Joey Roi Bondoc Research Manager segment and we see greater absorption from this sector over the next two to three years. The continued demand from Offshore gambling is emerging as a critical segment BPO and KPO firms should support at of the Cebu office market as it accounted for almost least a 10% annual growth in 25% of recorded transactions in 2017. Business transactions until 2020. Process Outsourcing(BPO)-Voice companies continue to dominate covering more than a half of Supply transactions while the Knowledge Process We see Cebu's office stock breaching Outsourcing (KPO) firms that provide higher value the 1 million sq m (10.8 million sq ft) services also sustained demand, taking 20% of the mark this year. Between 2018 and 2020, total office leases. Colliers sees the current we expect the completion of close to administration's infrastructure implementation and 400,000 sq m (4.3 million sq ft) of new office space. A combined 60% of the decentralization thrust benefiting Cebu as it is the new supply will be in Cebu Business largest business destination outside Metro Manila. Park (CBP) and Cebu IT Park (CITP). This should entice more offshore gambling, BPO, KPO and traditional firms to set up shop or expand Vacancy rate operations. We encourage both landlords and Overall vacancy in Cebu stood at 9.7% tenants to as of end-2017.This is lower than the 12% recorded at end-2016.
    [Show full text]
  • Cebex Prospectus FA Raster
    Harmony… The beautiful interweaving of dierent elements into a singular experience. An experience so diverse, yet utterly cohesive; complete and perfectly balanced. Welcome to the Cebu Exchange. A holistic, sustainable, and highly connected work environment where harmony is not just a way of life, but a way of doing business. FOR TRAINING PURPOSES ONLY. THE PHILIPPINE MARKET: AN OVERTURE A LANDSCAPE OF POSSIBILITIES: • GROWTH: 6.7% GDP • OFW REMITTANCES: US$30 billion • BPO REVENUE: US$23 billion Ranking among the top growth performers of Asia • BOND YIELD: 6.3% 10-year in 2017*, the Philippines has definitely cemented • POPULATION: 102 million (67% below 35 years old) its position at the top of the charts as one of the • MANILA • INFRASTRUCTURE SPENDING: most attractive economies in the entire region; US$160 billion (from 2016 to 2022) attracting investors from all over with more • 3.8% Managed Inflation as of Q1 2018 exciting and lucrative investment opportunities as compared to neighboring countries. *World Bank Group CEBU CITY • DAVAO CITY FOR TRAINING PURPOSES ONLY. CEBU CITY: A DYNAMIC DESTINATION Known for its powdery white sand beaches, delicious local fare and artisan crafts, Cebu, the Queen City of the South, has always been one of the most important and influential economic centers in the Philippines and is quickly emerging as one of the most prominent IT-BPO destinations in the world. With its idyllic work-leisure environment, it’s no surprise that Cebu has further developed into a regional hub and a preferred location of some of the most renowned global institutions, further contributing to the city’s booming economy.
    [Show full text]
  • Talamban in the Northeast, with Service Into the Cebu South Road Properties
    DEPARTMENT OF TRANSPORTATION AND COMMUNICATIONS Public Disclosure Authorized Social Impact Assessment of Cebu Bus Rapid Transit Project Public Disclosure Authorized RESETTLEMENT PLAN Final Report Public Disclosure Authorized Public Disclosure Authorized TABLE OF CONTENTS ACRONYMS AND ABBREVIATIONS ................................................................................ iii GLOSSARY OF TERMS .................................................................................................... vi EXECUTIVE SLJMMARY ................................................................................................... vii 1.0 PROJECT DESCRIPTION ..................................................................................... 1 2.0 OBJECTIVES OF THE RP ..................................................................................... 1 3.0 RESETTLEMENT PRINCIPLES ............................................................................ 2 4.0 SCOPE AND LIMITATIONS ................................................................................... 3 5.0 METHODOLOGY .................................................................................................... 4 6.0 SCOPE OF LAND ACQUISITION AND RESETTLEMENT ................................... 4 7.0 MEASURES TO MINIMIZE LAND ACQUSITION AND DISPLACEMENT ........... 5 8.0 OTHER PROJECTS ON THE CORRIDOR ......................................................... 10 9.0 PHILIPPINE LEGAL FRAMEWORK AND WORLD BANK POLICY ................... 10 10.0 ELIGIBILITY AND ENTITLEMENT MATRIX
    [Show full text]
  • Business in Harmony Cebu Exchange
    BUSINESS IN HARMONY CEBU EXCHANGE www.arthaland.com +63 917 77 ARTHA (27842) | [email protected] Visit our showroom on-site along Salinas Drive, Lahug, Cebu City CLIENT PROSPECTUS HLURB LTS No. 032788 CLIENT PROSPECTUS Salinas Drive, Lahug, Cebu City. Issued on 11 September 2017. Completion on 30 June 2021. Project Developer: Cebu Lavana Land Corporation. Project Manager: Arthaland Corporation. HLURB CVR AA-2019/01-550. Harmony… The beautiful interweaving of different elements into a singular experience. An experience so diverse, yet utterly cohesive; complete and perfectly balanced. Welcome to the Cebu Exchange. A holistic, sustainable, and highly connected work environment where harmony is not just a way of life, but a way of doing business. THE PHILIPPINE MARKET: A LANDSCAPE OF POSSIBILITIES*: AN OVERTURE • GROWTH: 6.7% GDP • OFW REMITTANCES: US$30 billion p.a. • BPO REVENUE: US$23 billion • 10-YEAR BOND YIELD: 6.3% Ranking among the top growth performers of Asia • POPULATION: 102 million in 2017*, the Philippines has cemented its position (67% below 35 years old) • MANILA at the top of the charts as one of the most • INFRASTRUCTURE SPENDING: US$160 billion (from 2016 to 2022) attractive economies in the entire region; • 3.8% Managed Inflation as of Q1 2018 attracting investors across the globe with more exciting and lucrative investment opportunities over other neighboring countries. CEBU CITY • DAVAO CITY *Sources: World Bank Group, 2017 Bangko Sentral ng Pilipinas, 2018 Contact Center Association of the Philippines, 2018 World Government Bonds, 2018 Philippine Statistics Authority, 2018 Department of Budget and Management, 2018 CEBU CITY: A DYNAMIC DESTINATION Known for its powdery white sand beaches, delicious local fare and artisan crafts, Cebu, the Queen City of the South, has always been one of the most important and influential economic centers in the Philippines and is quickly emerging as one of the most prominent IT-BPM destinations in the world.
    [Show full text]
  • Metro Manila Market Update Q4 2018
    RESEARCH METRO MANILA MARKET UPDATE Q4 2018 METRO MANILA REAL ESTATE SECTOR REVIEW FDI RISES AS NEIGHBORING COUNTRIES CONTINUE TO BET ON “ASIA’S RISING TIGER” COVER | The Philippines remains a popular investment destination for Asian investors FIGURE 1 Net Foreign Direct Investment Level By Country of Origin (in USD Mn) 905.65 SNAPSHOTS 900 750 2017 2018 Economic Indicators 600 450 384.25 263.97 300 189.33 183.51 64.4 150 13.25 8.56 6.1% 0 GDP SINGAPORE HONGKONG CHINA JAPAN Q4 2018 Source: Bangko Sentral ng Pilipinas The Philippines continues to attract Foreign Direct Investments (FDI) as formulates policies that will limit the economy carries on constraints in doing business in the experiencing growth of above 6% 6.1% country. On October 2018, the 11th Inflation Rate for the past 7 consecutive years. Regular Foreign Investment December 2018 The growth was mainly brought Negative List was amended to about by the increase in include five areas that will allow government spending from the 100% foreign investment present administration’s “Build, participation. The list includes Build, Build” infrastructure program. internet businesses (as excluded from mass media), teaching at 3.1% At the end of 2017, the Philippines higher education levels provided the OFW Remittances posted the highest rise in Foreign subject being taught is not a November 2018 Direct Investments (FDI) among professional subject (i.e., included in a government board or bar ASEAN countries. FDI remains examination), training centers that robust as investments increased by are engaged in short-term high- 42% in the first half of 2018.
    [Show full text]
  • GUEST of HONOR and SPEAKER the ROTARY CLUB of MANILA BOARD of DIRECTORS and Executive Officers 2017-2018
    1 Official Newsletter of Rotary Club of Manila 0 balita No. 3722, November 23, 2017 GUEST OF HONOR AND SPEAKER THE ROTARY CLUB OF MANILA BOARD OF DIRECTORS and Executive Officers 2017-2018 JIMMIE POLICARPIO President TEDDY OCAMPO Immediate Past President BABE ROMUALDEZ CHITO ZALDARRIAGA Vice President BOBBY JOSEPH ISSAM ELDEBS LANCE MASTERS CALOY REYES SUSING PINEDA Directors ALVIN LACAMBACAL Secretary NICKY VILLASEÑOR What’s Inside Treasurer Program 2 Presidential Timeline 3-4 DAVE REYNOLDS Guest of Honor & Speaker’s Profile 5 Sergeant-At-Arms The Week that was 6-10 RCM Weekly Birthday Celebrants 11 AMADING VALDEZ Centennial 12 Board Legal Adviser Fellowship 13 Music 14-15 RENE POLICARPIO New Generations 16-17 Assistant Secretary RC Cebu 85th Charter Anniversary 18 Pres-Elect Training Seminar 19-28 NER LONZAGA District Bingo/ RCM Paul Harris Fellows 29-31 Assistant Treasurer Centennial 32-33 Interclub/ One Rotary One Philippines 34 Secretariat Gusi Awards 2017 35-36 ANNA KUN TOLEDO News Release/ Interclub 36-38 Obituary 39 Public Health Nutrition and Child Care 40 Advertisement 41-43 2 PROGRAM RCM’s 21th for Rotary Year 2017-2018 November 23, 2017, Thursday, 12Noon, New World Makati Hotel Officer-In-Charge/ Program Moderator DE/Dir. “Issam” Eldebs P R O G R A M TIMETABLE 11:30 AM Registration & Cocktails (WINES courtesy of Dir.-elect/Dir. “Bobby” Joseph) 12:25 PM Bell to be Rung: Members and Guests are requested to be seated by OIC/Moderator : DE/Dir. Issam Eldebs 12:30 PM Call to Order Pres. Jimmie Policarpio Singing of the Republic of the Philippines National Anthem RCM WF Music Chorale Invocation Rtn.
    [Show full text]
  • Over 200 Filipinas Died in Hands of Employers in 4 Years Rep
    “Radiating positivity, creating connectivity” CEBU January 28 - February 3, 2020 P15.00 BUSINESSVolume 2 Series 19 12 PAGES Room 310-A, 3rd floor WDC Bldg. Osmeña Blvd., Cebu City WEEK You may visit Cebu Business Week Facebook page. Ban PH workers in Kuwait: Mendoza Over 200 Filipinas died in hands of employers in 4 years Rep. Raymond Demo- generalized like injuries. at Philippine Embassy in crito Mendoza (TUCP Party- But the National Bureau Kuwait. List) has urged government of Investigation (NBI) They discussed about to fully implement a total ban reported that she was raped, problems in Kuwait on deployment of Overseas sodomized, and her genital like employers illegally Filipino Workers (OFWs) was mutilated. She suffered confiscating the passports in Kuwait and recall home broken arms, broken head and mobile phones of home existing workers. and countless wounds at the service workers. Mendoza made the back. A joint monitoring call while conducting a According to NBI doctors, committee in the Philippines congressional inquiry on the Villavende suffered a painful and Kuwait was tasked death of Jennelyn Villavende, and humiliating death. She to monitor incidents like 26, of South Cotabato. She was malnourished. this but there was only one worked as an OFW in Kuwait In four years time, meeting in 2018. and was tortured to death by Mendoza said more than With the Memorandum her Kuwaiti employer. 200 Filipinas already died of Agreement (MOA) bet- Mendoza said there is with questionable causes or ween the Philippines and an estimated 1,600 OFWs in killed by their employers in Kuwait, diplomatic ties was Kuwait who are not inclined Kuwait.
    [Show full text]
  • 1H 2016 | Analysts' Briefing
    1H 2016 | Analysts’ Briefing 09 August 2016 Outline Message from the President 1H 2016 Results • Financial Statements • Margins • Capex • Operating Statistics 2 Duterte’s 10 Socio-Economic Priorities http://www.rappler.com/nation/140318-duterte-trust-rating-july- 2016 Source: Mike Oyson, Sales Commentary 3 Balanced and sustainable growth through the 2020-40 Plan NET INCOME AFTER TAX P40B NIAT by 2020 (in billion pesos) Sustainable and balanced growth strategy: 40.0 50% from Residential Development • Mix: 50% Horizontal, 50% Vertical 50% from Leasing • GLA growth: Malls, Office, Hotels and Resorts 17.6 14.8 Average Annual 11.7 Growth Rate 9.0 of 20% 7.1 5.5 4.0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 4 Platform for growth in place 19 Estates across the Philippines Makati Cebu Bonifacio Global City Nuvali 1960 1990 2000 2006 With 8,948 ha of land bank Present across Present Present Present Present 55 growth centers across the Philippines Capitol Central 5 Strategically located near major infrastructure projects ALTARAZA UP Town Center-Ateneo Viaduct 2017 North Ave/ Mindanao Ave Interchange (DPWH) 2018 AYALA HEIGHTS VERTIS NORTH EDSA/North Av C-5/Acropolis- Green Meadows- -West Av UP TOWN CENTER Interchange CLOVERLEAF Calle Industria Flyover (DPWH) 2018 (DPWH) 2018 AYALA MALLS FELIZ ALI-LTG Buendia/Makati Ave-Paseo de Roxas MAKATI Underpass (DPWH) 2018 BGC AYALA Pasig-BGC Bridge (DPWH) 2018 MALLS ASEANA ARCA SOUTH Southwest ITS (Megawide) 2018 SLEX ALABANG TOWN CENTER VERMOSA South ITS (ALI) 2018 6 NUVALI Strategically
    [Show full text]