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Picar development launches P60-B investments

Published on 11 July 2012 [ ]
Written by Madelaine Miraflor, Reporter

Picar Development Inc. launched on Tuesday P60 billion worth of real estate projects, featuring Stratford Residence, the tallest residential development that will be built in Makati City, and Ara Vista Village, the first wi-fi enabled residential-commercial development in the country.

Danilo Jugno, general manager of Picar Development, said that the P60 billion will be divided into 10 to 15 projects over a 10-year pipeline. Picar has a total of 630,000 square meters of prime commercial and residential lots in various stages of development, including five-star hotels, retail establishments, residential condominiums as well as master-planned residential communities.

“Some of these projects are the Picar Place, which will consist of Stratford Residence, the tallest residential development not only in Makati but in the whole country, the Ara Vista Village, which is the first wi-fi enabled township in the country,” he said in a press briefing.

Picar is now showcasing its expertise in complementing the lifestyle of its chosen location through projects in Makati City, Alabang, General Trias in Cavite, as well as future investments in Calamba in Laguna, Quezon City, Davao and Caticlan in Panay Island.

“We have projects in Cebu where we will put up offices for business process outsourcing [BPO]. We’re going to have projects in Alabang, Cavite, Calamba, Panay Island, Caticlan, among others,” Jugno said.

He added that they are planning to acquire lands in Laguna, Tagaytay in Cavite and other provinces in the south.

Jugno also revealed Picar’s strategy to survive the competition, saying that “in order to prove our clients that we are serious in this business, we build first before selling.”

“We are new in the industry and we do not hide that fact. We’ve only been here for almost three years but we are serious in establishing our name in the business,” he said.
Picar place, a 1.5 hectare urban hub, will consist of three towers—The Stratford Residences, Movenpick Hotel, and Buddha Bar, the largest Buddha Bar built in Asia that was recently opened.

“Picar Place is a P3.7-billion investment that will consist of three towers. Buddha Bar Manila is the biggest establishment of the world’s high-end bar and fine dining restaurant chain, while Movenpick Hotel is the first five-star, Swiss-run international hotel in Manila,” said Charlie Castillo, marketing manager of Picar.

On the other hand, Stratford Residence, which was launched a year ago, is a 74-storey tower that will become the tallest residential building in the Philippines.

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