MANILA, Philippines - Upscale real estate developer Century Properties Group, Inc. has reported strong take-up in its luxury residential skyscraper in Makati under the brand name of American billionaire Donald Trump.
Century Properties said 94 percent of Trump Tower units are already sold with still two years before the project’s completion.
Trump Tower’s over 250 units are expected to generate total sales of P6.13 billion, the firm owned by former ambassador Jose E.B. Antonio said.
Century Properties said the project’s success is comparable to the tremendous sales record of other Trump developments worldwide such as Trump International Hotel and Tower Waikiki, Trump International Hotel and Tower Chicago, and Trump International Hotel Las Vegas.
“We would like to congratulate our great partners, Century Properties Group, on this very exciting accomplishment. Together, we have done something very special and this fantastic property will set the standard of luxury and quality in the Philippines and beyond,” Donald J. Trump, chairman and president of the Trump Organization, said in a statement.
Antonio, Century Properties chairman and chief executive officer, said putting a Trump Tower in the Philippines is the company’s contribution to making Metro Manila an international destination.
“We are overwhelmed by the response from the market to the Trump brand and are grateful, as this now affords the city one of the most luxurious buildings in the world, comparable to the city centers of New York, Hong Kong and Singapore,” Antonio said.
Trump Tower Manila will rise within Century Properties’ 3.4-hectare mixed-use development called Century City in Kalayaan Ave., Makati.
The tower’s unit sizes range from 60 square meters for a suite to over 400 square meters for a penthouse.
Its construction has reached the 27th floor as of early January 2015.
Century Properties investor relations director Kristina Garcia said high-net worth Filipinos and foreign nationals are majority of the buyers at Trump Tower.
She said the brand’s prestige, assurance of quality and exclusivity, choice location and five-star services were the main drivers of unit purchases among its buyers.
“The successful sales of Trump Tower is a strong indicator of the power of Trump and how Century Properties has maintained its solid position as a key developer of first-class residential developments within the central business districts of Metro Manila, while it continues to diversify into other market segments,” Garcia said.