Published : Monday, November 14, 2011 00:00 [ manilatimes.net ]
Written by : KRISTA ANGELA M. MONTEALEGRE
VISTA Land & Lifescapes Inc. is building a third service apartment in Tagaytay under its high-end brand Brittany to cater to the growing demand for condominium units in the vacation area.
In a statement, the property firm owned by Senator Manuel Villar said it will spend P530 million to put up another Grand Quartier building, raising its total investment in the project to P1 billion.
Situated on a 3,306 square meter lot—more than double the 1,436 square meter lot size of the first two Grand Quartier buildings—the latest development is seen to attract affluent families, overseas Filipino workers and those who seek exclusivity and peace while they rest.
“With the surge of local and balikbayan tourists who prefer Tagaytay as their vacation destination, there is a steadily growing demand for condominium units in the area,” said Camille Villar, Brittany chief operating officer, adding that small boutique hotels have also developed rapidly in the last three years to meet market demand.
The project will also be operated as a condotel, allowing the residents to earn while they are not using their units. The condotel is being served and managed by boutique hotel operator Hospitality, Inc.
Featuring Brittany’s exclusive homes amid a setting of 20,000 pine trees, Grand Quartier features the unique architecture of Swiss chalets in the 100-hectare master-planned Crosswinds luxury resort community. Brittany will offer a total of 100 units with balcony in the nine-storey, low-density Grand Quartier 3, consisting of 72 studio units, 24 one-bedroom units and four two-bedroom units.
Studio units of 44 square meters will be priced at about P4.5 million each, one-bedroom units with 66 square meters at P7 million, while the 94 square meter two-bedroom units will be sold for about P10 million each. Units will be from the lower ground 2 level to the fifth floor while lower ground 3 will house various amenities such as an infinity pool, spa, gym, function hall and coffee shop.
Under the masterplan for Crosswinds, enough space has been set aside for as much as 10 Grand Quartier phases for a total of P5 billion in investments, Villar said.
“The success of the first Quartiers has encouraged us to allocate more space for condominiums within our exclusive community,” she said.
The first two phases of the Grand Quartier has already been sold out. The first phase consisting of 70 units is already fully operational while the 80 units of the second phase are about half built. The banquet hall, which will service the suites, will be in place by the end of the year.
Vista Land shares added P0.20 to close at P3 each on Friday.
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