MANILA, Philippines - Century Properties unveiled Thursday a P13.5-billion six-tower riverside high-rise residential project in Mandaluyong City, which will offer affordable stylish condominium units accessible to major central business districts.
In a briefing, company managing director Marco Antonio said the new project, called "Acqua," would roll out 2,500 residential units in a tropical rainforest-inspired community. The new development - intended to be one of the highlights of its developer's 25th anniversary this year - will rise on a 2.4-hectare property in Makati where the old Noah's Ark sugar refinery used to be, which is right across Rockwell Center. It can be accessed from Rockwell via the newly constructed Estrella-Pantaleon bridge over Pasig River.
All of the buildings will be named after the great waterfalls of the world. The first to start pre-selling is The 42-storey Niagara Tower offering one-, two- and three-bedroom units. There will also be a private collection of special units for the discerning home buyers, Antonio said.
A 27-to 32-square meter one-bedroom unit is worth about P2.5 million while a two-bedroom unit of 42-50 square meters is worth around P4.5 million.
A household with a combined monthly income of P50,000 can afford to buy a unit in this project. Monthly amortization was estimated at about P17,000.
Century Properties requires a 35-percent equity payable over the 48-month construction timeline for each tower. The balance can be covered by bank financing.
The development is inspired by water, which is expressed in the building design and amenities. Antonio said the project was intended to be a self-contained development and a "residential eden."
Giving its vote of confidence in ongoing efforts to fully rehabilitate Pasig River, Antonio said Acqua would be the first to take advantage of the area as a premier waterfront address in the country.
The development will have as its central amenity "The Pebble"- a 3,000-sqm exclusive country club for residents by the water, which will offer a variety of wellness and recreational activities. It will also have a 300-meter boardwalk that will host an array of restaurants, boutiques and cafes.
February 10, 2011
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