BY RUELLE ALBERT D. CASTRO
[ Malaya.com.ph ] May 27, 2011
Tourism-related, residential, and office space developments will keep listed developer Arthaland Corp. busy for years to come.
The company sees itself incurring P21 billion in construction costs, P3 billion of which are calendared this year. The company is going as far as Boracay and is positioning its projects in the high-end segment of the property market.
This will make sales from club shares and reservations a big contributor starting this year, compared with the mostly rental revenues that the company booked for its 2010 fiscal year, said Mario A. Oreta, Arthaland president.
These revenues came from the company’s Alphaland Southgate development, an office-cum-commercial space development at the corner of EDSA and Chino Roces Ave. extension.
Oreta said about 90 percent of the office space and 84 percent of the commercial have been leased out.
Jaime V. Ongpin, Arthaland chairman, said the company aims to focus on high-end and top-of-the line projects.
First on the plate of the company is the P6 billion three-tower Makati Place, which will be a residential development-cum-shipping center and a clubhouse whose amenities will rival that of existing clubs in Manila, according to Ongpin.
The project has been registered with the US Green Building Council’s Leadership in Energy and Environmental Design (LEED), targeting a "Gold" certification.
Ongpin said Arthaland started selling club shares for Makati Place in January.
Also in Makati, the company is busy with the P2.2 billion Alphaland Makati Tower, an office-space development, which will have a large template of 1,500-1,600 square meters space. The 34-story tower will have a gross floor area of 48,000 sq.m. with the ground and second floor offered as prime commercial space. Makati is also pre-registered with LEED for a Gold standard.
For its tourism project, Arthaland is planning to develop the 424-hectare Balesin island off Quezon province, facing the Pacific Ocean, into an enclave that it will call Balesin island club.
Ongpin said they will divide the island into six themed villages. Visitors will be ferried by company-serviced flights to and from Manila.
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