Century Properties allots $150 M for Trump Tower Manila

MANILA, Philippines - Upscale real estate developer Century Properties is spending $150 million to put up the luxury residential skyscraper under the brand name of American billionaire Donald Trump.

Century Properties signed last week a licensing agreement with Trump, who has over 70 properties, owned or branded, built or under construction worldwide, ranging from residential condominiums, golf courses and mixed-use properties.

The project, dubbed Trump Tower Manila, will house over 220 units, making it one of the tallest buildings to rise in the country at 250 meters.

Trump Tower Manila will rise within Century Properties’ 3.4-hectare flagship mixed-use development Century City on Kalayaan Ave., Makati City. The project will make available 57 squre-meter suites and one- to four-bedroom units as well as penthouses as spacious as approximately 425 sqm.

In a statement, Trump said: “Century Properties Group is a fantastic developer. Trump Tower Manila will be spectacular and there will be nothing like it in the Philippines or beyond. This will be one of the most significant buildings anywhere in Asia.”

For his part, Century Properties managing director and Trump Tower Manila project manager Robbie R. Antonio said: “There is never a more opportune time than today to launch Trump Tower Manila, which is perhaps the country’s most powerful symbol of progress and readiness to compete on the world stage. This project celebrates achievement, power, modern grandeur, and an unparalleled kind of lifestyle that is on a class of its own.”

“One of our company’s primary objectives is bringing our brand and the luxury associated with the Trump name into the international arena. The Philippines offers incredible opportunity given the tremendous wealth in the region. This project will set the new standard in the Philippines and beyond,” said executive vice president of development and acquisitions Eric Trump.

According to Century Properties, the collaboration was a result of meetings that started a few years ago in New York City.

Antonio said Trump Tower Manila will be offered at very competitive market prices, expecting strong sales turnout.

“We expect that the market will quickly seize each one of these over 220 units – a very rare and limited number for those on the lookout for world-class property the world over,” he said.

The Trump Tower Manila showroom is slated for opening in early 2012 but unit reservations have started this month.

This project comes at the heels of a successful sellout of another internationally-branded Century project, Milano Residences, six months since its official launch in January.

Antonio said the brisk take-up of its Milano Residences project was a positive indication for developers of first-class residential properties.