By Ayen Infante
11/02/2010 [ tribune.net.ph ]
A local property developer had forecast improved consumer sentiment in the third quarter ensures demand for residential property will remain robust.
Sound macroeconomic fundamentals and brighter economic prospects raised consumer sentiment in the third quarter and, according to a survey by the Bangko Sentral ng Pilipinas’ Department of Economic Statistics, the country’s confidence index increased 14.7 basis points, the highest reading since the nationwide survey started in 2007.
Condominiums continue to be the most sought after residential real estate in the Philippines and the trend of living closer to work will ensure buoyant demand for these units. This is reflected in the strong sales momentum seen at the Raffles Residences Makati where, backed by strong customer response, the third phase of inventory has been released for sale.
“Build quality and design excellence has always set this project apart and customers are aware of the quality and superior standards that we bring to our projects. I believe the strong response from the market is a testament to this. We are at an exciting stage in the construction process,” KHI-ALI Manila project general manager Garry Constantine said.
In keeping with the Raffles brand, the precise engineering of the design has meant that all aspects of this tower are built to the highest quality and consistency. The developers, KHI-ALI Manila — a joint venture between Kingdom Hotel Investments (KHI) and Ayala Land — have ensured that the building meets all international and local building requirements.
As part of KHI’s value creation strategy, the company develops branded residential components alongside hotels in high growth markets, like the Philippines. This strategy mandates internal quality protocols to qualify for superior certification standards by reputed agencies.
The Raffles Residences and its designs are being appropriately certified by internationally renowned consultancy firm, Bureau Veritas of France.
“The support for quality construction is reflected by the brisk sales pace the project has seen to date. We are delighted to deliver a product that our owners and guests will be proud of for years to come,” said KHI vice president of real estate Brad Berry added.