RLC, Federal Land to launch first joint venture project

MANILA, Philippines - Robinsons Land Corp. (RLC) and Federal Land Inc., the property companies of tycoons John Gokongwei and George Ty, respectively, will launch this month their first joint venture project, Axis Residences, on a two-hectare lot in Mandaluyong City.

Located along Pioneer St., the project will be developed into a two-tower premier residential condominium. The property is owned by Federal Land, the property arm of the Metrobank Group.

Construction of the first tower, which will have a total of 42 floors including three podium levels for parking, will commence in March next year and will be completed by the first quarter of 2016.

Tower 1 will house 916 deluxe units, with sizes ranging from 23 to 27 square meters. The units will be sold at an average price of P1.9 million to P2.2 million per unit – translating to a selling price of about P85,000 per square meter. With monthly amortization payments at just over P10,000 per sqm, Axis Residences is one of the best-priced projects in the area providing finished deliverables, the companies said. 

The project’s amenities include a 25-meter lap pool with pool deck, kid’s pool, function rooms, fitness center/gym facility, children’s playground, basketball/multi-purpose covered court, pavilion, landscaped garden and karaoke/game room.

Rouen Raz, vice-president for sales and marketing at RLC unit Robinsons Communities said the project is an ideal development for those who have high consideration for mobility and for those in search of dwelling units that strike a balance between quality and affordability.

“Axis Residences is primarily designed to cater to middle income end-users, specifically to young professionals and start-up families,” Raz said.

Federal Land entered into a joint venture agreement with RLC given the latter’s established expertise and reputation in the Pioneer area with its mixed-use Cybergate Complex development.