Low-rise market shows glimpses of recovery

Bangkok’s low-rise housing market is showing signs of stabilisation after a sluggish first half, prompting developers to resume new project launches in the fourth quarter despite intense competition for limited demand.

Pakpring Karoon, deputy vice-president of SET-listed Sansiri, said the market had reached a stable level rather than continuing to deteriorate, encouraging developers to gradually introduce new projects.

“If we say the market is sluggish, it is sluggish but stable,” she said. “Developers have started launching projects in the fourth quarter after seeing signs that the market will not worsen.”

Developers face intense competition not only on prices but also with promotions, financial packages and lower booking payments as weak purchasing power continues to constrain homebuying decisions, said Ms Pakpring.

“We need to work with partners, including financial institutions, to offer attractive mortgage interest rates and help customers make purchasing decisions,” she said.

“Demand has not disappeared. Customers still want homes, but developers have to put in more effort to help them.”

Sansiri has been willing to wait for customers to improve their financial position before applying for mortgages, she said, citing cases where customers took several months to clear credit card debt before returning to purchase homes, said Ms Pakpring.

“Some customers disappeared for eight months to clear their credit card balances before they could qualify for a mortgage. We waited for them,” she noted.

NEW SUPPLY

The company is also seeking underserved segments, including along Srinakarin-Rom Klao Road from Krungthep Kreetha Road to Highway 9 (Kanchanaphisek Road), offering limited new detached houses priced at less than 30 million baht.

After acquiring 142 rai in the area, Sansiri plans to launch the Burasiri Well Krungthep Kreetha project on Saturday, with the first phase comprising detached houses starting at 23 million baht per unit.

Later phases will include three-storey twin houses priced from 12-13 million baht, targeting younger buyers who previously lived in condos and now want larger usable living space.

Sansiri is prepared to accept a 30% lower gross margin than its previous high-end detached-house projects in the area to reach a price point that better matches current demand, said Ms Pakpring.

Arnut Kittikulmetee, senior executive vice-president of Sansiri’s low-rise project development, said the low-rise market remains weak in line with economic conditions.

“The market peaked in 2022-23 when Covid-19 prompted many consumers to shift from condos to landed homes, driving a sharp increase in sales,” he said.

Mr Arnut expects investment and the economy to improve next year, particularly with greater government involvement, but does not expect the market to return to its previous peak within two years.

“Next year, we expect the market to improve slightly as investment starts to pick up. However, it will not return to the level seen three or four years ago,” he said.

Mr Arnut said developers were also keeping new low-rise home prices close to levels seen three years ago despite higher land and construction costs.

Sansiri has maintained margins through economies of scale from factory-produced structures and features, as well as land acquired at favourable costs, he said.

He expects the existing low-rise supply to take about three years to be absorbed as demand gradually strengthens.

“People still need to buy homes,” said Mr Arnut.

“Once the market falls to a certain level, it should not get much worse and will gradually recover.”

Edo LG chair threatens to eject drivers wearing opposition party’s caps

The Chairman of Esan West Local Government Council, in Edo State, Hon. Blessing Albert, has threatened to eject commercial drivers who wear political caps or materials belonging to opposition parties from motor parks in the council area.

Albert gave the threat while addressing drivers at the Onitsha Park in Ekpoma on Tuesday.

A video of his address, which has now gone viral, shows the council boss warning drivers to desist from displaying insignia of other parties apart from the All Progressives Congress (APC).

He said he went round the park to issue what he called a standing order to all drivers.

‘On no account will I see any driver put on a cap or any material that does not belong to APC,’ he declared.

According to him, any driver who disobeys the order will not be allowed to operate from the park, irrespective of his personal relationship with him.

Immediately after the warning, the chairman was seen distributing APC-branded face caps to the drivers present at the park.

Albert tied his directive to Governor Monday Okpebholo’s vow to deliver 2.5 million votes for President Bola Tinubu in the 2027 presidential election, insisting that all commercial drivers must key into the agenda.

He claimed the present administration had constructed roads that have boosted the transport business, making it possible for drivers to travel to Onitsha and return to Ekpoma the same day to continue their work.

He, therefore, urged them to show loyalty to the APC government and help the governor fulfil his 2.5 million votes promise for President Tinubu.

Dar es Salaam needs a central metropolitan authority

In all these plans, promulgations, edicts and orders, one may be excused for believing that Dar es Salaam, the largest City in Tanzania, has no local government structure. Yet, as we all know, there are five local government authorities in the City: four municipal councils and one city council.

The importance of Dar es Salaam to the economic and social development of the country cannot be overstated. Dar es Salaam is the commercial capital, largest business hub, and primary economic engine of Tanzania. The city generates roughly 70% to 89% of Tanzania’s national tax collections, vastly outperforming any other region in the country; and accounts for an estimated 15 percent to 20 percent of Tanzania’s total Gross Domestic Product.

The Dar es Salaam Port handles roughly 90 percent of Tanzania’s international trade and serves as a vital trade lifeline and import-export route for landlocked neighbors, including Zambia, Rwanda, Burundi, Uganda, Malawi, and the eastern and southern part of the DRC.

The city generates over half of the nation’s total value in manufactured goods and holds nearly half of Tanzania’s industrial employment. It hosts a large, concentrated labor force driving dynamic service sectors like transport, education, health, tourism arrival, telecommunications, commerce; and has a large and dynamic ‘informal sector’.

In terms of local revenue generation, in the 2023/24 period, Dar es Salaam’s five municipal councils raised Sh245.8 billion in own-source local revenues; and regionally, Dar es Salaam leads local government own-source collections, accounting for about 21.6 percent of the national total for local authorities, closely matched by the Lake zones at 20.7 percent. With such a glittering ‘CV’, Dar es Salaam is not expected to have a governance deficit. Yet, because of the city’s importance, there may be a temptation to keep a close eye on city activities lest, it feels so much autonomous. That would be unfair, for Dar has a long history of local governance going back to the 1880s.

At the end of the German era, Dar es Salaam and Tanga had a Municipal status under the 1910 order of the Imperial Chancellor which created Municipal Councils in German East Africa.

Come the British era, under the Township Ordinance of 1920, Dar es Salaam was declared a Township Authority and its first Director was Dr R.R. Scott. The Authority was vested with the management of a Township.

In 1946, the Municipalities Ordinance (Cap 105) was passed and Dar es Salaam became a Municipality in 1949. In 1953, a Local Government Ordinance was passed creating municipal, town and district councils. Dar es Salaam continued to enjoy its municipal status, even after the amendment of the Local Government Ordinance in 1962. Indeed, Dar es Salaam obtained city status in 1961, as part of the independence celebrations.

In 1972/73 rural and urban local authorities were abolished, but Dar es Salaam was the first to get back some authority under the Urban Councils (Interim Provisions) Act of 1978.

Dar es Salaam got back its full local government authority in 1984. However, the council was abolished in 1996, and replaced by a Commission, largely as part of reforming local governments.

When local government over Dar es Salaam was re-introduced in 2000, the city was divided into three municipal authorities (these have since grown into five) and an overall City Council. The Local Government (Urban Authorities) Act was amended to accommodate a situation where a local government authority would operate in an area where there are other local government authorities.

While the arrangement worked well, the Dar es Salaam City Council was dissolved on 24 February 2021, and was absorbed into the Ilala Municipal Council which was elevated to city status.

A city, the size and importance of Dar es Salaam, needs an overall Metropolitan Authority, which will see the city in its totality, coordinate its plans and programmes and address crosscutting issues.

It would be made up by representatives from the five local government authorities of Ilala, Temeke, Kinondoni, Ubungo and Kigamboni, and would be the overall authority planning and speaking on behalf of the whole city.

Experience could be borrowed from, among others, the South Africa Metropolitan Municipalities and the Ghanaian Metropolitan Assemblies.

Special groups urged to grab 30pc share of public tenders

Women, youth, older people and persons with disabilities have been urged to take advantage of the government’s 30 percent public procurement allocation, with authorities warning that inadequate preparedness and limited awareness of procurement rights could prevent eligible groups from benefiting.

The call was made on Wednesday, September 16, 2026, by Lindi Municipal Council acting head of community development, Ms Alusaria Mushi, who represented Regional Commissioner Adam Malima.

Ms Mushi was speaking during a conference on industry, investment, technology and innovation for special groups from the Southern Zone. In a statement shared with The Citizen, Ms Mushi said the government had created opportunities for special groups to participate in public procurement, but urged beneficiaries to be better prepared to compete for tenders.

‘The laws and regulations allow individuals or groups of persons with special needs to access loans under the special groups category,’ she said.

Under Regulation 35(1) of the Public Procurement Regulations, 2025, procuring entities are required to grant an exclusive 30 percent preference in their annual procurement of goods, works and services to eligible special groups within their locality.

The provision covers youth, women, older people and persons with disabilities, creating a dedicated opportunity for these groups to participate in government procurement.

Ms Mushi also called on the Public Procurement Appeals Authority (PPAA) to increase awareness among women, youth, older people and persons with disabilities about their rights during public procurement processes.

Speaking at the conference, PPAA head of appeals management, Ms Violet Limilabo, representing the authority’s executive secretary James Sando, said the authority was continuing to educate tenderers about their rights and responsibilities.

She said digital systems had also simplified the process of lodging procurement complaints and appeals.

‘Currently, PPAA receives and handles complaints and appeals through the Complaints and Appeals Management Module in the National e-Procurement System of Tanzania (NeST),’ said Ms Limilabo.

According to her, the digital system has helped reduce the time and costs associated with complaints and appeals while improving transparency, accountability and record-keeping.

JV Ejercito: No more delays in NSCR, Metro Manila subway

Senate finance committee chair Senator JV Ejercito on Thursday said he is ensuring there will be no more delays in the construction of the North-South Commuter Railway (NSCR) and the Metro Manila Subway.

Ejercito and Transportation Secretary Giovanni Lopez inspected the NSCR’s West Valenzuela Station and its Operations Control Center, as well as the Metro Manila Subway depot and its Quirino Station, and the Philippine Railway Institute.

He said he is making sure that funding for these projects is being used properly to ensure there are no disruptions that may hinder operations.

‘We aim to have the NSCR and the Metro Manila Subway Project operational as soon as possible so that our fellow citizens, especially in Metro Manila, Laguna, and Pampanga, can utilize them,’ he added.

The 147-kilometer NSCR is expected to accommodate at least 800,000 passengers daily from its 35 stations in Metro Manila, Central and Southern Luzon.

Meanwhile, the 33-kilometer MMSP may provide service to 519,000 passengers. It is projected to reduce travel time from Valenzuela City to NAIA Terminal 3 to 40 minutes, down from more than an hour.

‘The great thing here is that we can show Sen. JV-and his colleagues in the Senate and [House of Representatives]-that his efforts to safeguard the funds for the NSCR and the subway are truly yielding results and making a difference. We have to push harder. We really need projects like these-the railways, the subway, and the NSCR,’ Lopez said.

The move comes as President Ferdinand Marcos Jr. directed the Department of Transportation to speed up the railways’ construction, the agency said in a statement.

However, Malacañang earlier announced that the NSCR’s full operation schedule was moved from 2032 to 2033 due to the government’s cost-cutting.

Under the new timeline, the first partial operation of the NSCR is scheduled for December 2027, while the second partial operation from Malolos to Clark will be in the fourth quarter of 2028. The third partial operation of the Clark-Solis and Alabang to Calamba will be in the fourth quarter of 2031, while full operation of the Clark-Calamba line is set for the third quarter of 2033

WATCH: Castro calls VP Sara succession claim ‘absolutely delusional’

Malacañang on Thursday, September 17, shrugged off the statement that Vice President Sara Duterte is ready to assume the presidency should President Ferdinand Marcos Jr. resign.

Presidential Communications Office Undersecretary Claire Castro called the statement ‘absolutely delusional’ when asked whether the Palace was taking the claim seriously.

The remark came after Duterte’s lawyer said the vice president was prepared to take over the presidency if Marcos steps down.

‘Kahapon ko pa po sinabi, it is absolutely delusional,’ Castro said.

ITCZ to dump rains over Visayas Mindanao

Rainy weather will prevail in some parts of the Visayas and Mindanao today due to an intertropical convergence zone, acccording to the Philippine Atmospheric, Geophysical and Astronomical Services Administration.

PAGASA said that Negros Island Region, Central Visayas, Eastern Visayas, Zamboanga peninsula, Northern Mindanao and Caraga as well as the provinces of Davao Oriental, Lanao del Sur and Masbate will have cloudy skies with scattered rains and thunderstorms.

The rest of the Visayas and Mindanao will have partly cloudy to cloudy skies with isolated rainshowers or thunderstorms.

Metro Manila and the rest of Luzon will have partly cloudy to cloudy skies with isolated rainshowers or thunderstorms due to localized thunderstorms.

PAGASA said a tropical depression was spotted outside the Philippine area of responsibility.

Prophet I.O. Samuel: Celebrating a Life at the Intersection of Faith, Enterprise and Service

Today, attention is on Prophet Ikechukwu Samuel, popularly known as Prophet I.O. Samuel, the Abuja-based cleric, entrepreneur, author and philanthropist whose work extends beyond the pulpit into business, media and humanitarian intervention.

Samuel is the Founder and General Overseer of Shiloh Word Chapel, a ministry headquartered in Abuja and built around prayer, the Word, prophecy, healing and deliverance. The ministry describes its mission as raising an empowered generation through apostolic teaching and prophetic encounters.

Beyond his pastoral responsibilities, Samuel has developed a public profile that combines Christian ministry with entrepreneurship and philanthropy.

BusinessDay, in a 2024 profile, described him as a figure whose activities span faith, entrepreneurship, music and humanitarian work, noting his involvement in sectors including agriculture, media and logistics, as well as training and mentorship initiatives.

His humanitarian work is particularly associated with the Samaritan Foundation, through which he has been involved in providing assistance to vulnerable communities, including support for internally displaced persons and educational initiatives. A 2025 Vanguard report also identified him as the President of the foundation and highlighted its plans to establish vocational training centres for widows.

Samuel’s journey in ministry has also been publicly linked to the late Prophet T.B. Joshua, whom he has described as a mentor. In interviews published by Vanguard and P.M. News, Samuel recounted his relationship with Joshua and the influence of that mentorship on his ministry.

Under his leadership, Shiloh Word Chapel has continued to expand its programmes and public ministry activities. The church recently marked its 15th anniversary in July 2026 with a three-day programme in Abuja themed ‘There Shall Be Showers of Blessings.’

Perhaps the most defining feature of Samuel’s public journey, however, is the combination of faith, enterprise and service.

His story reflects an increasingly visible model of religious leadership in which the work of the church intersects with entrepreneurship, media, mentorship and social intervention.

As Prophet I.O. Samuel marks another personal milestone today, the occasion provides an opportunity not only to celebrate the man behind the pulpit but also to reflect on a journey that has sought to connect spiritual leadership with enterprise and humanitarian responsibility.

For his congregation, business associates, beneficiaries and followers across Nigeria and beyond, today represents another opportunity to celebrate a life dedicated to what Samuel has consistently described as a calling to raise people, transform lives and make an impact beyond the walls of the church.

Yas supports maternity services at Same hospital

Same District Hospital in Kilimanjaro Region has received maternity equipment and supplies from Yas Tanzania to strengthen care for expectant mothers.

The support, provided through the telecommunications company’s Tumaini Campaign, includes delivery beds, wheelchairs, bedsheets, khangas, aprons and maternity kits for mothers and healthcare workers.

Speaking during the handover, Yas Northern Zone Director Henry Kinabo said the initiative was part of the company’s commitment to supporting communities alongside its investment in telecommunications services’As we continue to invest in communication services, we also want to make a difference in the communities we serve. Through the Tumaini Campaign, our aim is to support expectant mothers and help improve the care they receive during childbirth,’ he said.

Mr Kinabo said some of the donated items were contributed by Yas employees through the Tumaini Campaign, while others were provided under the company’s corporate social responsibility programme.

Acting Nurse-in-Charge at Same District Hospital Endutuja Mbwambo said the support would help to address shortages at the facility, where maternity equipment and supplies are in constant demand due to the high number of deliveries.

‘We receive around 270 to 300 women for delivery every month, so the need for these supplies remains high. This support will help us provide better maternity care and address some of the shortages we face,’ she said.

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ProGRESS and vape regress

The Department of Finance (DOF) held a ‘Stakeholder briefing on Promoting Growth, Revenue and Equity toward Socio-Economic Sustainability (ProGRESS) Bill’ on Sept. 2 at the Land Bank Plaza Hall in Manila. I was invited and attended it. Perhaps there were 400 people in the hall.

ProGRESS bill consists of three main issues: (1) Tax relief: rationalization of personal income tax (PIT) and minimum corporate income tax exemption for micro and small businesses; (2) New sin tax rates: alcohol, sugar, tobacco, plastic and (3) wealth tax: luxury vehicles (higher tier), tax on non-essential goods like private aircraft and global minimum tax.

I discussed my position on PIT and luxury vehicle tax in my column, ‘Looking at LGUs’ budget surplus and the ProGRESS consultation’ (BusinessWorld, Sept. 3). I argued that the DOF proposed P350,000 per year income as tax-free from the current P250,000 per year should be made P500,000 per year and reduce the tax brackets from six to five.

On luxury vehicles tax, the DOF wants to add another bracket of 75 percent tax for gasoline vehicles worth over P8 million. I spoke during the open forum and argued that the DOF is wrong to grant zero tax for full EVs and a 50-percent discount on hybrid EVs. ProGRESS bill should remove such privilege but it does not. The rich’s EVs worth to P2 million-P6 million have zero tax while a small gasoline sedan worth P0.6 million is slapped 20 percent tax. This is wrong. All cars, gasoline, diesel or EVs should pay the same tax rate.

The new sin tax rates have gathered the longest discussion from stakeholders. On sugar tax, the DOF wants to raise it from P6 to P20 per liter of purely caloric or non-caloric; from P12 to P40 per liter of HFCS; remove the exemption for certain products like natural vegetable juices. People from the sugar industry in Negros, the organization of sari-sari store vendors, etc. spoke expressing disapproval or considerations.

On the vape tax, many have spoken from NGOs, academics like Joel Torres, former dean of the UP College of Business Administration and former BIR commissioner; Kim Henares, also former BIR commissioner; Joey Dulay, president of the Philippines E-Cigarette Industry Association and many more. I also raised my hand but was not called due to little time left.

I was invited and have spoken in several Senate and House committee on ways and means (CWM) public hearings this year on the e-cigarettes and vape tax. There are many doctors who spoke there and some argued for outright banning and prohibition of vapes and traditional cigarettes. Or tax these to the sky to discourage smoking and vaping. They refer to legal products only because illicit products simply fill in the gap, their prices are too low and demand simply shift there.

In the last two hearings at the House of Representatives in August, I argued that (a) it is a CWM hearing, not a committee on health hearing, so the goal is how to raise more billions for the government from vape products, not prohibitions and zero revenue for the government; and (b) the goal of the hearing is to find an optimum tax rate, not maximum tax rate, that will give more billions to the DOF, reduce illicit trade and smuggling, both outright and technical smuggling.

Currently there is dual taxation on vape products. In 2025, nicotine-salt (NS) was P57.33 per ml, Freebase was P66.15 per 10 ml or P6.62 per ml. This year, NS is P60.20 per ml and FB is P69.46 per 10 ml or P6.95/ml.

This huge gap in tax differentiation naturally leads to technical smuggling, NS products that are declared as FB so government revenue from vapes is naturally small, only P0.95 billion in 2024 and P2.54 billion in 2025.

I wanted to know the distribution of volume and revenues from NS vs FB because the DOF data did not show it, they only showed total volume removal of 265.7 million ml in 2025. So I showed some computations in my presentation at the House CWM like this formula – tax optimization and revenue maximization:

R = (t1 * v1) + (t2 * v2)

Where: R = Tax Revenue, t1 = tax rate of NS, v = volume of all vapes,

v1= (v * s1) = volume of NS, s1 = estimated share of NS;

t2 = tax rate of FB, v2 = (v * s2) = volume of FB, s2 = estimated share of FB; s2 is also an indicator of under- or mis-declaration of NS as FB, tax dodging and technical smuggling due to dual tax rate.

So, R = (P57.3 per ml x 265.7 M ml x .058 share) + (P6.6 per ml x 265.7 M ml x 0.942 share) = P2.54 billion in 2025.

The above numbers imply that at P57.3 per ml tax, only 5.8 percent of all vapes were declared as NS, and 94.2 percent of all vapes were declared as FB. Raising the tax to P70 per ml or higher as DOF and some NGOs want is courting an outright smuggling.

Now at the House CWM bills, there is consensus that the dual rate should be made single or unitary, that is good news. The bad news is that the proposed single rate is similar to the current rate: P61.43 per ml by CWM chairman Miro Quimbo, P66.16 per ml by Cong. Gatchalian and DOF’s ProGRESS proposal is P72.90 per ml, then a five percent increase every year.

Cong. Meehan and many legislators propose a P10 per ml plus five percent increase yearly. I believe this is the most optimal rate. My own computation shows at P10 per ml initial single tax rate (from P6.95 per ml FB) would give the DOF P8.4 billion in 2027, P12.3 billion at P10.50 per ml in 2028, P16.8 billion at P11 per ml in 2029, P21.2 billion at P11.50 per ml in 2030.

The goal is to find an optimum tax rate, not the maximum tax rate. The aim is to generate more revenues, not encourage more smuggling and illicit trade. The DOF’s proposal is vape revenue regress, not progress.