Megaworld adds 3 upscale condos in Makati CBD

MANILA, Philippines - Megaworld Corp., the flagship property firm of tycoon Andrew L. Tan, is introducing three more upscale residential buildings in the Makati central business district (CBD) to increase its portfolio to 30 towers.           

The company is jumpstarting its expansion program with the launch of the 31-story Salcedo Skysuites that will generate P2 billion in sales, a ranking official said.

At least three more residential projects are in the pipeline in the country’s financial capital in the next two years, said Eugene Lozano, Megaworld’s vice-president of sales and marketing for Makati CBD.

“Makati CBD is still the premium address in Metro Manila for both office and residential spaces,” he said.

Megaworld currently has one of the largest residential footprint in the Makati CBD with its 27 condominium towers, of which 18 have been completed and delivered while nine are under pre-selling and construction.

“For Makati, the target is investors because the rental value here are very attractive. They realize that there is strong demand for rental in residential condominiums especially in Makati CBD,” Lozano said.

With the successful launching of the 30-story Paseo Heights in Salcedo Village and the 31-story Greenbelt Hamilton in Legazpi Village last year, Megaworld is introducing a new upscale project in Makati CBD.

“Salcedo Skysuites is set to change the way people live the life at the top. We are offering our future residents the best amenities that any highly mobile individual needs at the end of the day,” Lozano said.

Construction of the 31-story residential condominium tower along H.V. dela Costa St. in Salcedo Village is expected to be completed in 2018.

The penthouse features the country’s first heated outdoor infinity pool, giving its residents views of the Manila, Makati and Ortigas skylines. It will be surrounded by a pool lounge, sun deck, children’s pool and playground, as well as outdoor sitting areas.

With only 11 units per floor, future residents are assured of privacy and exclusivity, Megaworld said.

The target market for Salcedo Skysuites are professionals that are in the executive and upper supervisory levels, Lozano said.

“We hope to sell out Salcedo Skysuites in less than six months. We are optimistic that with Makati CBD’s prime location and the high resale and rental values of properties within the area, people will still consider Makati CBD as their top priority location for property investments,” he added.

In January to September last year, Megaworld’s net income reached P6.55 billion up 15 percent from P5.7 billion a year ago due to growing sales from several township projects and revenues from office buildings.

In its more than 20 years of operations, Megaworld has completed more than 240 residential and office buildings with a total floor area of around six million square meters.