AMA property unit to build residential condo in Makati

MANILA, Philippines – Picar Development Inc., the property development arm of the AMA Group of Companies of Ambassador Amable R. Aguiluz V, is constructing a P3.5-billion, upscale 70-story residential skyscraper along Kalayaan Ave. in Makati City.

In a briefing with reporters yesterday, Aguiluz, chairman and president of Picar, said the project, dubbed Stratfort Residences, would rise as the tallest residential building in the country when completed in 2015.

Stratfort Residences, which will have a floor area of 100,000 square meters, will house 1,124 fully furnished studio, single and two-bedroom to three-bedroom units with sizes ranging from 30 to 430 square meters.

“But more than just height, Stratfort Residences will set the bar for future luxury residential condominium developments in the metro. It will feature first class amenities, modern leisure facilities and stylish residential units in a soon-to-be major landmark,” Aguiluz said.

The company has already sold a third of the units only a few months after it began pre-selling. The project is located near shopping malls and educational institutions.

Aguiluz said the building will feature remote-controlled lighting system and complete WIFI access for every residential and commercial floor.

The first three floors of Stratfort will comprise retail stores and commercial establishments including world-renowned fine dining restaurant chain Buddha Bar, which originated from Paris.

It will also have an eight-level underground parking that can accommodate more than 694 cars.

Picar has partnered with Holcim RMX, the readymix unit of Swiss-based cement maker Holcim.

Founded in 2007, Picar has invested more than $400 million in its commercial and residential developments. It has amassed 51.7 hectares of prime commercial and residential tracts in various stages of development, including five-star hotels, offices, retail buildings, residential condominiums as well as master-planned communities.