[ Manila Bulletin Online ] April 16, 2008
By BERNIE CAHILES–MAGKILAT
Amidst the US economic slowdown, a developer of affordable medium rise condominiums north of Manila looks to the non-US overseas Filipino workers (OFW) markets to continue addressing the need for quality homeownership.
Belton Communities Inc. Sr. AVP for Business Development and Project General Manager Tonton Gatuslao said that they will be actively marketing their affordable housing project to OFWs in Hong Kong, Singapore, Italy, Dubai and Abu Dhabi. Eton International Marketing Managers will be assigned to these countries to present the project to our "kababayans."
Belton Communities Inc. (BCI) was recently established by the Lucio Tan Group’s property arm, Eton Properties Philippines, Inc. (EPPI.), as its vehicle for its affordable housing segment. BCI aims to provide a new standard in affordable living. For its first salvo, it has launched North Belton Communities, an affordable mid-rise condo township near the major malls in Quezon City.
North Belton Communities is within an expansive 13.8-hectare prime lot along Quirino Highway in Novaliches, Quezon City and is readily accessible through main thoroughfares such as EDSA, NLEX, Quirino Highway, Tandang Sora, Congressional Road and via the MRT.
Previously, for its highend projects, parent firm EPPI has been tapping US-based OFWs to promote its various premium developments in the cities of Makati and Manila.
"US-based Filipinos are in the higher-income brackets, so we would like our marketing efforts to be in that direction especially for our prime developments. But we are partially diverting efforts from this market because the US economy is currently weakening and is marred with subprime woes," Gatuslao said.
"This time around, we are focusing our international roadshows in the non-US markets, particularly Asia and Europe where there is a big concentration of Filipinos. These relatively lower-income-bracket niches are also perfect for our affordable condo project, " he said.
A comfortable life awaits OFWs and their families at North Belton Communities said.
The first residential phase, The Manors, occupies an expansive 3.3 hectares within the township project. The Manors comprises 14 five-storey mid-rise buildings. Apart from its location close to retail establishments, The Manors boasts an improvement from existing developments in this part of Metro Manila. Characterized by 60 percent open space and punctuated by amenities for a comfortable lifestyle, another plus in the project is that units are complete with walls and doors for the two bedrooms as well as dining and living areas, a kitchen, and toilet & bath.
A two-bedroom unit is available for as low as P1.18 million, Gatuslao added.
US or non US-based, OFWs offer a huge potential for the real estate and property sector. OFW remittances as of last year have reached US$ 14.4 billion, and a significant portion of this has been channeled to the acquisition of houses, condos or residential lots.
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