Plaza Crest wows Fil-Ams

Renewed interest on Philippine properties among U. S.-based Filipinos is perking up the upscale residential market and could provide the added impetus to drive the full recovery of the property sector.

D. O. Plaza Estates president Democrito Plaza III made this assessment following his return recently from a series of marketing road shows in the US West Coast, Mid-West and parts of the East Coast, during which the company’s new high-end Plaza Crest Development racked up sales of $7.8 million or roughly P453 million.

"Filipino-Americans in California, Seattle, Washington, Texas and the New York-New Jersey area bought more than a third or 60 of the 154 units being built on the 2.7-hectare Plaza Crest development," Plaza said.

"There’s a huge market for high-end developments among the Filipinos in the US and we’ve barely scratched the surface of this pent-up demand yet. Moreover, the interest is broad-based, which should augur well for local developers," he said.

Prices of properties in upscale developments ranges from P4 million to P13 million.

Plaza disclosed that the Plaza Crest buyers represent a cross section of Filipino communities in the US.

"We have a good mix of buyers. There are those nearing retirement age who are seriously contemplating on returning home for good. We have middle-aged investors who want to diversify their property holdings outside of the US. We also have young professionals who are starting to build successful careers and now want to trade up to higher value properties for their parents here. The common sentiment expressed by is that they want to buy properties in a secure, well-located community with strong upside potentials and this plays to Plaza Crest’s advantage," Plaza said.

"Plaza Crest’s attractiveness to Filipino-Americans stems from the development’s countryside ambience and strategic location, which would enable them to enjoy a laid back lifestyle and yet have easy access to the urban conveniences that they have grown accustomed to in the US," Plaza explained. "Strict implementation of restriction codes will allow the community to retain its exclusive residential character and preserve its long-term value," he stressed, adding that these are key features that high-end local buyers are also looking for.

Conceptualized by two of the country’s top urban planners, Felino Palafox, Jr. of Palafox & Associates and Rolando Mercado of RMDA Architects, the 2.7-hectare Plaza Crest will only have 154 dwelling units, leaving plenty of friendly open spaces for trees, gardens and walkways and common areas for community-oriented activities.

The development’s Parañaque location puts it within a short drive of the commercial and entertainment centers, premier medical facilities, fresh produce and seafood markets, and retail establishments within the city itself and neighboring Makati and Alabang, and a stone’s throw from the country’s international and domestic airports, which makes travel abroad or to the provinces very easy.

Plaza Crest will have three types of dwelling units, each varying in size and amenities to suit the different tastes and needs of the upscale local and foreign homeowners.

The four-level Garden Villas, with floor areas ranging from 190 to

218 square meters, will appeal to big established families. They will have three bedrooms, kitchen and dining areas, three toilets and baths, a maid’s room with toilet and bath, and two parking slots. Ownership is evidenced by a Transfer Certificate of Title (TCT), based on separate and independent lot areas.

For more information about Plaza Crest, you may call the DOPEI hotline at 523-8196 to 98 or send an email to [email protected].