DEI Properties hopes to cash in on townhouse, dorm projects
Neil Jerome Morales (The Philippine Star) - July 12, 2014 - 12:00am

MANILA, Philippines - Property developer DEI Properties Inc., founded by former Citi banker and real estate veteran Danilo Ignacio, is venturing into the niche market of pocket townhouse and dormitory projects in the metro.

Niche projects are targeted towards end-users and will cater to strong demand for modern student dormitories, its top official said yesterday.

“The projects we do are under the radar of big developers and we do projects that are relatively recession-proof,” Ignacio said in a briefing.

DEI Properties is currently building the 15-story Forbes Hall dormitory in Sampaloc, Manila. It is the company’s answer to the current state of low-quality student accommodations in the area.

“Strategically located at the heart of the University Belt in Manila, Forbes Hall is poised to serve the more than 200,000 local students and 6,000 foreign students in approximately 15 universities and colleges that are all within one-kilometer radius of the project,” DEI Properties said.

Ignacio said that regardless of the economy, education will remain as a primary need. Hence, demand for dormitories will remain strong.

Forbes Hall offers 277 fully-furnished units, mostly 15.2 square meters composed of three student pods designed to provide the student privacy and comfort, starting at P1.5 million each.

“Tapping on investors and an increasingly financially savvy market looking for passive income opportunities, DEI Properties crafted Forbes Hall to offer a worry-free real estate property investment,” the company said.

Owners can tap the services of DEI Properties for the lease marketing, rent collection and management of the units, which are scheduled for delivery early in 2016.

“With 71 percent of the units sold, investors can earn an annual rental yield of around eight percent, higher than other available investment products,” DEI Properties said. Average rent per student pod is P6,000, excluding utilities.

Ignacio said that student population in University Belt increases every year. The Southeast Asian economic integration will further boost enrolment in the area, he said.

For its second project, DEI Properties is entering the townhouse market with an initial 10-unit offering in Pasig.

Located just five minutes from Libis, the gated Sonterra Townhomes project will cater to professionals working in Eastwood City Libis and the growing extended family in adjacent areas.

Each three-story, three-bedroom townhouse unit sells at P4.5 million.

“I want to focus on markets that resilient. I would not go to projects highly speculative,” said Ignacio, who previously led Eton Properties Philippines Inc. and the high-rise division of Robinsons Land Corp.

DEI Properties is also into development management and lease management service for landowners that seek to develop idle lots. Its first development management project is the P6-billion a five-tower Norkis Cyberpark in Mandaue City in Cebu.      

 

DANILO IGNACIO DEI EASTWOOD CITY LIBIS ETON PROPERTIES PHILIPPINES INC FORBES HALL IGNACIO MANDAUE CITY PROPERTIES UNIVERSITY BELT
  • Latest
  • Trending
Latest
Recommended
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

SIGN IN
or sign in with