Real Estate News Roundup in Metro Manila (Aug 20 to Sept 2, 2018)

Property giant Megaworld Corporation has begun work on Park McKinley West, its third property. It is set in Le Grand Avenue, Fort Bonifacio among the corporation’s 34.5-hectare McKinley West township development.

The 6.5-billion peso tower is to be 25 storeys tall, with units that will be wider than what is usually offered. Sizes include 48.5 square meters for the one-bedroom unit, 110 square meters for the two-bedroom unit, up to 212 square meters for the three-bedroom unit, 229 square meters for the four-bedroom unit, and up to 336 square meters for the five-bedroom Penthouse unit.

The property will feature amenities like a swimming pool, function rooms, and a fitness center. It will also include amenities that focus on wellness, such as an outdoor yoga deck and a yoga room.

Park McKinley West is set for completion by 2022 [1].

Robinsons Land Corp. (RLC), a property development which usually operates malls and hotels, is venturing into dormitory spaces, warehousing, and possible shared office spaces.

According to RLC president Frederick Go, the corporation has decided to undertake dormitory spaces to cater to those who cannot afford a condominium unit. “Not everybody can afford to buy a condominium unit, a lot can only afford to rent. It’s being consistent with our goals to provide housing for everyone. We have to also accommodate those who cannot buy units but can only afford to rent,” Go said in an interview.

Aside from dormitories, Go added that RLC is also set to undertake the shared office space business: “We are studying and going into the market. There are a lot of shared offices but not from property developers.”

The company will also expand its warehousing business. Its first project in Muntinlupa City which has a gross leasable area of 32,000 square meters will be expanded with properties in Laguna. According to Go, these can be rented “ to anybody who needs to take up space. It’s a logistics warehouse so it can be for anything the client wants” [2].

Century Properties bagged both the Best Luxury Condominium Development in Metro Manila and Best Mid-End Condominium Development awards at the recently concluded 6th PropertyGuru Philippines Property Awards 2018.

Trump Tower in Makati was hailed as the Best Luxury Condominium Development in Metro Manila, edging out properties by Megaworld Corporation and Ortigas & Company. Trump Tower is a high-rise condominium that captures the spirit of New York City living.

Meanwhile, The Residences at Commonwealth was recognized as the Best Mid-End Condominium Development. It is well-known as Century Properties’ first property in Quezon City and has a total of eight mid-rise towers.

Century Properties is among the top five property developers in the country [3].