Century Properties allots P13.5B for latest foray

MANILA, Philippines - Leading real estate developer Century Properties, through unit Century Limitless, is spending P13.5 billion for its latest foray into the high-quality but affordable residential condominium market.

After the success of Azure Urban Resort Residences in Parañaque, Century Limitless’ first project, the company is developing the country’s first residential “eden” called Acqua Private Residences within a 2.4-hectare prime property located directly across Rockwell Center in Makati and easily accessible via a newly constructed foot bridge (Estrella-Pantaleon) that traverses the Pasig River and connects Makati to Mandaluyong.

Century Properties managing director and Acqua project head Marco Antonio said in an interview that unlike any other project, Acqua’s master plan allots twice the size of its land area to open space, amenities and greenery, spread throughout the buildings, roof gardens and amenity areas.

With the continuous rehabilitation of the Pasig River in full swing, Acqua will be the first residential development to take advantage of the area’s reinvention as a premier waterfront address in the country. Acqua will be constructed in what used to be the site of the Noah’s Ark sugar refinery in Mandaluyong.

“Acqua is a piece of paradise in the center of the metropolis, made even more exciting as residents will get such exclusive amenities as their own country club by the water, a riverwalk promenade, and a water shuttle that will transport them to and from Makati,” Antonio said.

He explained that the six-tower development is one of the highlights of Century Properties’ 25th anniversary this year, and is the much-anticipated follow on project of the Century Limitless brand, which develops high-quality homes at affordable prices.

Conceptualized by Century Properties with the London-based award-winning design firm Broadway Malyan, and local counterpart R Villarosa Architects, officials said Acqua’s unique riverside location provides a picture of how its surrounding environs will be revitalized in the coming years.

“We aim to contribute to the gentrification of an old industrial area into a bustling center of activity, as well as help realize the grand vision for the rebirth of the Pasig River and fill it with riverside attractions,” Antonio added.

Construction will commence in 2012 and is projected to be completed by the second quarter of 2015.

The first tower to rise at Acqua is the 42-storey Niagara Tower, coined after the famous waterfalls, which will offer one, two and three-bedroom units.

A private collection of special units called Acqua Prive, which includes townhouse, sky garden, private garden, and penthouse suites, caters to discerning clientele looking for choice real estate. Unit sizes range from 27 to 140 square meters with an average price of P95,00 to P10,000 per square meter or almost half the price lower than upscale projects in the area. Residents may choose from a bare unit, or a fully-fitted and fully-furnished unit with two interior design themes.

Other towers that will rise at Acqua are The Sutherland, Detifoss, Iguazu, Victoria, and Yosemite, all named after some of the most beautiful waterfalls in the world. The five other towers will rise up to 50 storeys.

The central amenity of the development is called The Pebble Country Club, a 3,000-square meter sports, health, wellness, and recreational facility. At the ground floor is the 300-meter Riverwalk Promenade, inspired by Singapore’s Clark Quay area, that will feature restaurants, bars, and cafes.

A first of its kind feature that will be provided to residents and guests is a water shuttle that will take residents to and from the Makati riverside.

“We are delighted to introduce a residential landmark that embraces the modern lifestyle and yet infuses the reinvigorating experience of being surrounded by a majestic tropical rainforest,” Antonio noted.

Company officials explained that the project’s name is Acqua (Italian for water) because its inspiration is water as the giver of life. This inspiration is infused throughout the entire development - from the pixilated water stream design reflected in the building’s exterior skin, to the lagoon pool of The Pebble Country Club, to the 25-meter glass lap pool overlooking the Makati skyline, and culminating at the three iconic waterfalls at the Riverwalk Promenade.

Acqua will be managed by Century Properties Management Inc., the largest private property management firm in the country with a portfolio of 54 residential, office, and mixed-use buildings. It currently handled BPI Buendia Center, Asian Development Bank in Ortigas, Essensa East Forbes in Fort Bonifacio, and the Pacific Star Building in Makati.

Century Limitless has commissioned an extensive flood risk analysis for the site. Officials explained that the site’s location along the Pasig River’s channel makes it less vulnerable to flood since it has open access to the sea. But as an added precaution, CLC is undertaking several measures to mitigate severe typhoons and strong rains: i.e. the ground floor of all towers, amenity, and retail areas will be raised 1.5 meters; the development will have two drains leading to the river, both with one-way valves to prevent backflow into the project in case the river overflows.

Century Properties is behind many firsts in prime Philippine developments, including The Milano Residences (the first luxury residences in Asia interior designed by Versace Homes), the Gramercy Residences, and The Knightsbridge, and the Centuria Medical City all inside Century City in Makati.

According to Antonio, they will probably put up two to three more buildings inside Century City.

February 08, 2011

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