A resort in Makati

Antel Land Holdings Inc. held an unusual groundbreaking for its Antel Spa Residences recently with a percussion-heavy Brazilian band that perked up and amused buyers and real estate agents in Makati Avenue.

Since the Antel Spa Residences—with its resort ambience (that includes a nature trail, Sky infinity pools and lounge, spa amenities and organic farm settings—is touted as a resort in busy Makati City, overseas-based Filipinos and tourists who attended the groundbreaking bought the 2-bedroom, 1-bedroom and studio type condominiums hurriedly like they were running out of style prompting Antel director for sales Miguel Gascon to announce 50 percent sold that night.

The brisk sale was due both to the expertise of its 30 in-house lifestyle specialists and 50 other external specialists (“they are not called brokers because they sell not just a property but a complete lifestyle,” he said) and the hefty cash discount of 12 percent which results in price cuts on cash sale of P100,000 for the one-bedroom; P200,000 for two-bedroom and P400,000 from the three-bedroom and more.

The studio is priced at P2 million; one bedroom is P2.4 million; two BR P4.5 million and three BR P6 million. Penthouse units with areas of 60 sq.m. to 100 sq.m.(which will have 8 since they are right beside the rooftop amenities) will definitely be priced higher.

“Actually we did pre-selling five months ago and we invited our buyers to come over for the groundbreaking. Many of them flew in just to get a better personal appreciation of the property,” Gascon said.

Development of the 1.7 hectare property which Antel bought from the Ayalas is from P1 to P1.3 billion with the first of four towers—the Spa Residences—expected to be completed by December 2009.

The units from the 11th to 15th floors will be leased and “locked in” with Genesis Hotel, the group that transformed Manila Hotel and made other five star hotels in the country very viable to be used as hotels for local and foreign tourists. After earning from their units for five years, the buyers can get back the units for their personal use, Gascon said.

The hotel targets to lease the units to foreign workers of BPO, IT and other companies expected to stay for at least five months in the country and therefore prefer to stay in relaxing lifestyle condos than in very stiff hotel ambience.

Even businessmen from the provinces attending seminars in Makati or Manila for four days will benefit from the lifestylish comfort of Antel Spa Residences, Gascon said.

Antel is a family-owned company of Antonio Lao with the Ant coming from his first name and El from La Elegancia, the high-end diamond jewelry business of the Lao family for the past several decades. La Elegancia is in fact the biggest local supplier of diamonds.

At the Spa Residences, rooftop amenities (open only to unit owners) include: sky infinity pool, sky bar, barbecue pit, sky lounge, sky (organic) garden, business center, function rooms, grand ballroom and coffee shop.