Federal Land, SMDC post strong sales for ‘most expensive’ condo » Manila Bulletin Business

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Federal Land, SMDC post strong sales for ‘most expensive’ condo

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By James A. Loyola

The real estate development arms of two of the country’s top conglomerates, SM Investments Corporation and GT Capital Holdings Inc., have teamed up to develop the country’s most expensive luxury residential project worth an estimated P25 billion.

To be built on the last remaining vacant lot along Ayala Avenue, The Estate Makati is envisioned to be an iconic landmark in the heart of the Makati Central Business District.

To get this highly ambitious project off the ground, SMDC and Federal Land have tapped award-winning architectural firm Foster + Partners for a design which would cement their legacies.

“The Estate will put Makati in the world’s map for architecture,” said Federal Land President Pascual Garcia III adding that the Ty and Sy families have pulled out all the stops for the project.

The luxury residential tower is designed for affluent individuals looking to own a prime, one-of-a-kind piece of Makati real estate, that speaks of privacy, exclusivity and product superiority.

The target market includes captains of industries, investors as well as followers of the Norman Foster legacy. So far, the project is at least 40 percent pre-sold even before its launch, with sales so far focused on the domestic market, said Federal Land Senior Vice President and Sales and Marketing Head John Frederick Cabato.

The Estate Makati has 54 floors above ground, housing a total of 188 residential units that have two to four bedrooms each.

It will offer 36 spacious two-bedroom units with a floor area of 151 sq.m. and priced at P90 million to P95.5 million each.

It will also have a total of 144 three-bedroom units ranging from 178 to 224 sq.m., priced at P112 million to P153 million.

There will be eight penthouse suites consisting of three-bedroom units ranging from 407 to 497 sq.m. or an average unit size of 450 sq.m., while the four four-bedroom units will range from 617 to 764 sq.m. or an average of 690 sq.m. priced at around P400 million per unit.

Gearing up for the future, the building’s parking facility is equipped to handle electric vehicle charging needs, with a charging point provision for each unit owner. There will be a total of 618 parking slots with allocations of 2 to 8 slots per unit, depending on its size. There will also be guest parking slots.

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