By Richmond S. Mercurio (The Philippine Star) | Updated March 5, 2015 - 12:00am
MANILA, Philippines - Roxaco Land Corp., the property arm of holding firm Roxas & Co. Inc., is venturing into the luxury condominium market with the third phase development of its Anya Resort and Residences project in Tagaytay.
Roxaco said it is marking its maiden venture into limited vertical development given the present high demand for luxury condominiums.
“Hardworking entrepreneurs looking for a quick escape from the stresses of city life now have an option with this low-density, low-rise condominium cluster within our flagship community in Tagaytay,” Roxaco executive vice president Santiago R. Elizalde said.
Roxaco cited a study by a reputable international markets analysis group revealing that the luxury market enjoyed a compounded annual growth of 80 percent in the past three years due to the consistent appreciation in capital values of real estate.
The property firm said the study also showed the expatriate and end-user markets remained under-served, thereby creating an untapped market that has significant purchasing power.
Roxaco said an increase in demand for leisure and luxury weekend getaways, together with the lack of upscale short-stay developments within an hour’s travel from Manila, creates a winning equation that the company intends to capitalize upon through its upcoming phase of development at Anya.
“Anya is poised to claim this market niche and make it its own via its unique branding. No other accommodations of its kind has yet been built on the tourist destination of Tagaytay, so we intend to show the way in this area via the international-grade amenities, impeccable dining experience and world-class wellness and spa services that our brand represents,” Elizalde said.
Andrew Sparrow, Anya program director, said Phase 3 of the project would feature bigger units of one to three bedrooms that will be situated in three to five-story buildings.
Floor areas will range from 52 square meters to 105 sqm. and are priced starting at P9 million.
“Unlike the business-like setting of a hotel suite, these units will be designed to evoke a cottage feel, of relaxing in your very own oasis. Details such as a fireplace, a terrace that opens up the floor space from your living and dining areas, a reading nook – all of these give you that feeling of being truly at home,” Sparrow said.
Anya is a project that combines a luxury residential condominium with a boutique hotel experience and a health and wellness resort element.
Roxaco said the company has experienced brisk take-up in the initial phases of Anya which included open lots and resort units.