The Philippines is accelerating a broad upgrade of its air capabilities, committing to new long-range aircraft and strategic bases on its northern and western frontiers as it adapts to what officials describe as a more complex security landscape. Philippine Air Force (PAF) Commanding General Lt. Gen. Arthur M. Cordura outlined the plans during the service’s 79th founding anniversary at Colonel Jesus Villamor Air Base in Pasay City, with President Ferdinand Marcos Jr. in attendance. The initiative is part of the Armed Forces of the Philippines’ (AFP) modernization program and its shift from internal security operations to a stronger territorial defense posture under the Comprehensive Archipelagic Defense Concept.

Cordura said the PAF is investing in long-range patrol aircraft, additional Black Hawk and Bell 412 EPX helicopters, advanced surveillance radar systems and flight simulators to extend its ability to monitor and operate across greater distances and more demanding environments. Long-range patrol aircraft are expected to bolster maritime surveillance over the country’s extensive exclusive economic zone, while the incoming helicopters will expand capacity for troop transport, disaster response, medical evacuation and search-and-rescue missions. The new systems are aimed at enhancing both day-to-day operational readiness and the Air Force’s role in broader regional security efforts.

To sustain longer missions and improve response times, the PAF is also developing new operating locations in northern Luzon and the West Philippine Sea, described as strategic bases to support extended air operations. These facilities are intended to complement the service’s growing fleet and surveillance network, thereby strengthening the country’s defense posture in key approaches and maritime areas. The AFP has been working to improve interoperability with allies as concerns rise over security in the West Philippine Sea and the wider Indo-Pacific region, with airpower seen as a central element of that shift.

Marcos used the anniversary event to reaffirm his administration’s backing for the PAF’s modernization drive, linking the build-up of air capabilities to the force’s constitutional mandate. He called on Air Force personnel to remain loyal to their duty to protect the people and defend democratic institutions, stressing that the strength of the service rests on the character and values of its men and women as much as on hardware. Framed under the theme “Focus PAF @ 79: Forging a Credible, Agile and Multi-Domain Air Force through Mission Readiness, Capability Development and Values-Based Service,” the celebration highlighted the importance of continuous capability enhancement, mission readiness and values-based service built on integrity, service above self, teamwork, excellence and professionalism.

New World Development Co. and Ares Management Corp. have sharply cut asking prices for units at their grade-A office project in Hong Kong’s Cheung Sha Wan district, in one of the deepest discounts seen in the city’s commercial property market. According to people familiar with the matter and local media reports, prices at 83 Wing Hong Street have been reduced by as much as 57% from levels when the project first launched sales in 2024, with some units now offered below the developer’s original land cost.

After factoring in discounts and rebates, certain floors at the 28-storey tower are being marketed at about HK$5,600 per square foot, with other units around HK$7,000 per square foot, the people said. That compares with initial asking prices of roughly HK$13,000 per square foot at the start of the year and is lower than the about HK$7,996 to HK$8,000 per square foot New World paid for the site in 2017. The aggressive pricing underscores the pressure facing owners of commercial assets outside Hong Kong’s core business districts, even as sentiment in the broader property market has started to improve.

The building, completed in 2023 and branded “83 Wing Hong Street,” is located near Lai Chi Kok MTR station in Kowloon, about a five-minute walk from the railway and around a 20-minute train ride from Central. It comprises office space from the fifth floor upward, with a total gross floor area of roughly 440,000 square feet and includes both office and retail components. While the steep reductions have helped lift transaction momentum in recent weeks, they also highlight how landlords in non-core locations are having to adjust expectations to clear inventory.

Hong Kong’s office sector remains weighed down by high vacancies, particularly outside the traditional Central business district. Data from CBRE show the citywide office vacancy rate stood at 16.8% at the end of March, close to a historic high, amid a wave of new completions. That contrasts with signs of a broader recovery in the residential segment, leaving some investors reassessing exposure to commercial assets. Ares declined to comment on the pricing moves, while New World did not respond to requests for comment, according to earlier reports.