In three to five years, expect Megaworld to add 8 more residential condos to the 18 they presently have in Makati CBD.
In a statement recently released by residential condominium developer and BPO proprietor Megaworld, the real estate company is eying an expansion of its Makati Central Business District (CBD) residential condo portfolio in the next three to five years.
“There is a continuing expansion of multinational companies and growth of the expatriate population in the country,” Megaworld Makati CBD head of sales and marketing Eugene Lozano explained. Citing the increase of BPO and offshoring companies in the Philippines, he continued: “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.”
Megaworld and its subsidiary, middle-income residential developer Empire East, presently have 18 completed buildings in Makati, most of which are right in the central business district. Megaworld is in the process of finishing four pre-selling developments, namely the super high-end developments Two Central and Three Central in Salcedo Village, Paseo Heights also in Salcedo Village, and Greenbelt Hamilton in Legaspi Village. In the following years, Empire East will set in motion the development and completion of the four towers comprising San Lorenzo Place, which will round up the 26 developments.
Asked about the reason behind the strong sales of the aforementioned properties, Lozano replied, “Our residential condominiums in Makati 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 the CBD if you can have everything here already?’”
He added, “At the end of the day, location is key. Condos in Makati CBD definitely provide higher return of investment if you decide to rent it out or re-sell in the future compared to those outside the CBD.”
Megaworld assures that they will deliver only high-quality residential condominiums by working with some of the country’s best contractors, such as EEI Corporation and Datem, both of which have “AAA” accreditation. In addition, the real estate developer has tapped the likes of international design firm Gettys for many of their projects, and has also consigned world-famous brands like Hansgrohe, Kohler, and Elba for their super high-end developments’ bathroom and kitchen fixtures.
Units in Megaworld’s high-end developments go for Php 120,000-139,000/sqm, whereas super high-end units start at Php 140,000/sqm. The real estate company predicts a total sales number of Php 12 billion from the four pre-selling projects alone, noting that all Two Central units are spoken for, while the other three have already passed the half mark in sold units.