Posted on July 11, 2014 07:17:55 PM [
BusinessWorld Online ]
REAL ESTATE firm DEI Properties, Inc.
on Friday said that its upscale dormitory-hotel in Sampaloc, Manila -- which it
hopes will address the "current state of low-quality students
accommodations" in the University belt -- will be fully-furnished and
lease-ready by March 2016.
Construction is ongoing for the
15-storey dormitory called Forbes Hall, which targets more than 200,000 local
and 6,000 foreign students from around 15 universities and colleges that are
all within a one kilometer radius of the project.
The minimum price for units is around
P1.5 million.
DEI said the project is a "unique
rental investment product" that will offer "high-yielding rental
income" to its unit owners.
"Owners have the option to tap
the services of DEI Properties, Inc. to undertake the lease marketing, rent
collection and management of the units," the statement read. "With
71% of the units sold, investors can earn an annual rental yield of around 8%,
higher than other available investment products."
Forbes Hall was launched in December
2012.
A unit comes fully-furnished with
three student pods featuring a work station with a chair, closet, drawers,
shelves, study lamp, bed night lamp, USB-integrated convenience outlet and a
bed on top -- as well as wall air-conditioning, an orbital fan, a mini-refrigerator,
a microwave oven and an LED TV.
Forbes Hall also has study halls, a
student lounge, gym, garden, half-court basketball court on the roof deck,
wi-fi access, convenience stores and quick-service shops like laundry stores
and water stations.
Security features include CCTV cameras
and a key card access system.
"Forbes Hall has been designed to
offer the best dormitory facilities and amenities within the University
Belt," the company said in a statement.
The University belt area is a cluster
of around 50 educational institutions, including the University of Santo Tomas,
Far Eastern University, the University of the East, and San Beda College, among
others.
Meanwhile, DEI is also planning to
compete in the townhouse market with the introduction of Sonterra Townhomes in
Pasig City, which is just five minutes away from Libis, Quezon City.
The company will initially offer 10
townhouse units that will cater primarily to those working in Eastwood City in
Libis.
Pricing of a townhouse unit -- which has
three floors, three bedrooms, and a one-car garage -- starts at P4.5 million.
DEI Chairman & Chief Executive
Officer Danilo E. Ignacio, who built Eton Properties Philippines, Inc. -- the
real estate arm of the Lucio Tan Group of Companies, said in the statement that
DEI has also ventured into development and lease management services.
"[This is] for landowners who
seek to develop properties but lack the expertise in navigating the technical,
legal, regulatory and financial aspects of property development," the
statement read.
DEI’s first development management
project is the 2.8-hectare Norkis Cyberpark in Mandaue City, Cebu for the
Norkis Group of Companies.
The property, which is being developed
into a multi-tower business process outsourcing office campus, broke ground on
the first tower called Norkis One in December last year, and is expected to be
completed by the second half of 2015.
Other projects in DEI’s portfolio
include North Belton Communities -- The Manors, South Lake Village, Centris Cyberpod
One, One Archers Place, The Eton Residences Greenbelt, One Gateway Place, and
Galeria Regency. -- Daphne J. Magturo
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