Published on Friday, 24 May 2013 00:00
Written by ALBERT CASTRO
Malaya
Business News Online - Philippine Business News | Online News Philippines
Megaworld
Corp. aims to generate P12 billion in sales from four residential projects it
is developing in Makati City targetting what it calls as the “super high-end”
market.
These
properties—Two Central, Three Central and Paseo Heights in Salcedo Village, and
Greenbelt Hamilton in Legazpi Village—are set to rise in the next three to five
years, adding an estimated 2,000 brand new units in Makati City’s condominium
inventory.
“There is a
continuing expansion of multinational companies and growth of the expatriate
population in the country. Through the years, there has been a remarkable
increase in the number of business process outsourcing (BPO) and offshoring
companies,” said Eugene Lozano, Megaworld head of sales and marketing for
Makati CBD.
“Thus, the
demand for residential condominiums in the Makati CBD remains high. Makati
City, especially the CBD area, remains to be the top choice among local and
foreign condo buyers and investors,” Lozano added.
Lozano said
the four projects registered a strong uptake, with Two Central already sold
out. The third tower, Three Central, which is also located on Valero Street and
will house the first upscale community mall in Salcedo Village, is now 85
percent sold, he said.
The company
said Paseo Heights, another residential tower fronting the famous Salcedo Park,
is now 65 percent sold, while another tower which will rise on Legaspi Street
in Legazpi Village, Greenbelt Hamilton, is already 75 percent sold.
“Our
residential condominiums in Makati,” Lozano said, “are within the prime
locations of the central business district, not in the outskirts of the city.
So we tell our buyers: why get a Makati condo away from CBD if you can have
everything here already.”
This year,
the company is completing its 50-storey One Central luxury condominium with a
total unit of 708.
To date, the
company has a total of 18 buildings around Makati City, mostly in the CBD. By
2017, the total number of buildings by Megaworld is expected to reach 26 in the
Makati CBD alone.
“We have
built a strong track record as the country’s largest developer in the last two
decades. We are looking at more opportunities to further expand our portfolio
in the Makati CBD by growing our landholding. We will definitely continue to
build more residential towers in the country’s financial center,” said Lozano.
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