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Vista Land to build P1.5B Salcedo Square ahead of schedule due to brisk sales

[ ] June 14, 2011

Vista Land & Lifescapes Inc. said its high-rise residential marketing arm Vista Residences has started construction of the P1.5 billion Salcedo Square project ahead of schedule following a strong sales take-up after its launch in February.

"Sales have been remarkable. We have sold over half of the available units in just over three months," said Maribeth C. Tolentino, Vista Residences chief operating officer.

Salcedo Square will be a 30-story building with 409 units ranging from studios to two-bedroom flats.

Rosales said studio units range from 18 square meters to 22 sq. m. and sell for P2.1 million to P2.5 million; the one-bedroom units are 27 sq. m. to 32 sq. m. priced at P2.8 million to P4.6 million, while the 36 sq. m. to 44 sq. m. two-bedroom units are offered for P4.2 million to P5 million each.

Excavation works have been completed and structural works will start in July, with construction expected to be completed in 3½ years or by July 2014 – one year ahead of schedule.

Typically, developers turn over projects after five years.

Salcedo Square is being built on a prime 840 sq. m. lot along L.P. Leviste street in the heart of Salcedo Village’s quieter side. Salcedo Village itself is the more discreet of Makati’s two major business-cum-residential communities and is easier to access, less prone to traffic, less busy, and quainter.

The village is dotted with cozy cafés, food centers and well-landscaped parks that on weekends become either joggers’ haven or Makati’s biggest weekend food-and-flea market.

Vista Land said a "distinct" feature of Salcedo Square is its different layout options for each type and size of residence to allow homeowners more leeway in selecting a design that best responds to their lifestyle.

"In response to the residents’ need for escaping and unwinding, Salcedo Square is designed with an amenities center that will house a swimming pool, garden patios, a home theater, state-of-the-art gym, game room, daycare center, function rooms, and a cozy sunken bar and restaurant," the company said.

"Aside from its grand lobby, the building’s ground floor will have a commercial area housing boutiques and a couple of cafés," it added.

Salcedo Square is a stone’s throw away from Makati’s offices as well as its biggest malls, hotels, museums and the Ayala Triangle Park. It is also close to schools, hospitals and sports clubs.

Due to its strategic location and relatively affordable payment packages, Salcedo Place will make an ideal home for young urban professionals or upwardly mobile executives working in Makati as well as for overseas workers, said Red Rosales, Vista Residences marketing head for the Makati group.

Ricardo B. Tan , Vista Land senior vice president for finance, also said the early construction and completion of Salcedo Square will mean that revenues and earnings from the project can be booked earlier.

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