[ Malaya.com.ph ] January 5, 2009
By ALBERT CASTRO
JTKC Land, Corp., is budgeting P200 million to renovate its Ortigas serviced apartment business, Discovery Suites.
Director for coporate planning John Tiu said that the company is now focusing on locals who may opt not to travel abroad but see more of the Philippines and experience what the local hospitality industry can offer.
He said they are firming up plans for a 68 story building in Makati.
Tiu said the Discovery Suites in Ortigas has been spruced up, tenants will be treated to a "new environment".
"We are right now shortlisting the interior designer, we start with the rooms this year, after finishing the fifth floor and "22 prime", the restaurant of the 22nd floor. The lobby of Discovery Suites is being transferred in the center of the atrium, " said Tiu.
Tiu said marketing focus has well shifted to locals who also because of the crisis may be encouraged to shift their overseas vacation travels to local spots.
Tiu said that for the moment there is still much room for the industry’s improvement starting primarily with having the appropriate accommodations and other infrastructures, as well as marketing support.
For the room part, Tiu said JTKC Land is embarking on a new serviced apartment project within the Makati business district.
Discovery Trinea will replace the old Gilarmi apartments near Manila Peninsula Hotel. It will be 68 storeys with the last 64 floors composing the residential units.
About 86 out of the all the available units, comprising the first 18 floors, and four penthouses will be marketed by JTKC as a serviced unit.
The area of all the units would be at an average of 380 to 400 sq.m. for a regular unit while the penthouse would have an average size of 590 sqm. This will be sold at an average of P50 million - P60 million for the regular units while the penthouse will cost about P100 million, according to Tiu.
"The development on Ayala is mixed use. The first 18 floors is our service apartment, high-end service apartments and the remaining floors are residential units. It is not a condotel because we are not selling units in the service apartment, the service apartment we will be keeping. We are only selling units in the residential floors," said Tiu.
Tiu in earlier interviews said that the project would be a 6-star full service apartment.
The project will complement the planned chain of hotels and condotels to be put up by Kingdom Holdings, Inc. in the Makati Central Business District in partnership with the Ayala group of companies.
Currently, Discovery Trinea is receiving "positive response" from private individuals that has seen the project’s plans, though not yet on a pre-selling stage, according to Tiu.
"We are looking towards a smooth transition to a new landmark in that part of Ayala Ave.," he said.