PTR Properties carves niche in mid-rise market

MANILA, Philippines - High-rise living is the norm nowadays. With property developers in Metro Manila scrambling for every available space for their projects, those who are in search of a new home are left with little choice but to go up.

Buying a condominium unit may not be such a bad thing. However, the number of tenants in a building can compromise a number of conveniences. For one, units here are either too expensive, or too cramped in space. Likewise, slow elevators may affect speedy access to your floor during peak hours of the day. There is also the issue of security. With more tenants in a building, there is also much people traffic. Whatever sense of privacy and exclusivity you used to enjoy while still living in your own apartment may not be available here.

A good compromise to a high-rise unit is a medium-rise condominium. While the living setup here may be the same as in a high-rise building, the lower number of residents gives you the exclusivity that you need.

This is the promise offered by PTR Properties Inc., which specializes in medium-rise developments that simulate the feel of living in your own house and lot. The brainchild of businessman Peter Ty, the company has already completed two projects, turning over the units to their owners in under two years time. It is now completing another mid-rise development, while another is already on the planning stage.

All of PTR Properties’ developments are in Kapitolyo, Pasig. Ty says the location is perfect since Pasig is just minutes away from the Ortigas and Makati business districts and The Fort. Apart from its proximity to major business areas, Kapitolyo is known as a quiet and peaceful residential area that was home to some old-rich families.

“All our properties are on the quiet side of Kapitolyo,” he says. What’s more, Rafael St., where most of PTR Properties’ projects are situated, is parallel to Shaw Blvd. It is a convenient address for those who are commuting to and from work.

PTR’s first project was Grand 21 Place Condominium, a five-story development with just 35 residential units. Its second, the Fifth at Rafael Condominium, was a seven-story building with 66 residential units with multi-purpose hall and spacious garden deck. Grand 21 sold out four months after completion, while Fifth at Rafael sold out a few months before the building was finished. An ongoing project is One Capitol Condominium, a 10-story building with 114 residential units. Construction is expected to be completed by April 2010.

For details about the different developments of PTR Properties Inc., visit www.ptrproperties.com.