MANILA, Philippines - A tight supply of high-end residential condominium units over the past eight years has spawned strong demand for luxury homes in premier central business districts, according to key executives of Filinvest Development Corp. (FDC).
The investment holding company of the Filinvest Group is currently briskly turning over units of its luxury residential project – The Beaufort in Bonifacio Global City (BGC).
Based on industry studies by leading global real estate firm JLL,only about three percent of the nearly 150,000 residential condominium units built in Metro Manila from 1995 to the first half of 2013 catered to high-end clients.
“We are seeing strong take-up of The Beaufort units which, in addition to exclusivity, offer superior technology, great views of both the Manila Golf and Makati skyline as well as close proximity to premium destinations – the key elements of the best addresses in the leading capitals of the world,†said Josephine Gotianun-Yap, president and CEO of FDC.
Subsidiary Filinvest Alabang Inc. also recently broke ground on the high-end Botanika Nature Residences in Filinvest City, Alabang. Both projects are part of Filinvest’s strategy to gain a solid foothold in the luxury residential market.
The Beaufort rises above a six-level banking podium and is located in what is perhaps the quietest residential enclave of BGC. The Beaufort East and West towers designed by US architectural firm Arquitectonica in collaboration with local architectural consultant R. Villarosa & Architects offer commanding views of the Manila Golf Club. The entrance to the residential towers is in one of the shortest streets in BGC, 23rd Street, which terminates at the golf course. The entrance to the banking podium is on iconic Fifth Avenue, a short stroll away from an ultra-deluxe hotel development, a super block project offering premium retail and dining options and the future home of the Philippine Stock Exchange.
With only four stories to a floor, Beaufort offers exclusivity as well as a range of unit sizes – from over 54 sqm in its one-bedroom units to over 149 sqm in its three-bedroom units. “Unlike high-end residential units built in earlier decades, our units are deliberately smaller in response to the desire of end-users to have more manageable living spaces,†Yap added.
Yap pointed out that the high-end residential condo users’ desire to reside in distinguished surroundings has remained unchanged. Thus, FDC selected Arquitectonica, a leading architectural firm associated with landmarks like the International Finance Center in Seoul and Walt Disney’s All-Star Resorts in Florida to design a skyscraper that provides panoramic wall to wall glass in each of the units and curving walls to provide unobstructed vistas.
It also enlisted hotel interior designer Texeira Design Inc. to plan the hotel-inspired grand lobby and exceptional amenities on the seventh floor shared by both East and West Towers. The amenities include a 25-meter infinity pool overlooking the fairways of Manila Golf Club, a gourmet party room with chef’s island, a mini theatre, fitness gym and aerobics studio. Texeira Design’s projects include the Peninsula Bangkok Hotel and the Ritz Carlton in Dubai.
With a take-up rate of 70 percent, the project with units that range from P8 million and above counts clients who are not first-time condo owners, Yap noted. “They acknowledge the exceptional value offered by The Beaufort.â€
In addition, they appreciate the development’s security features like the card access and AV phone entry system refined by international consulting firm Control Risks which counts major international airports as clients. These are further supported by 100 percent backup power in all units and common area.
The Beaufort is located at 5th Ave. corner 23rd St. Bonifacio Global City, Taguig. Showsuites are open for viewing, according to its website thebeaufort.com.ph. For more details, call 850-0888 or (0917) 8770888.