HOMEGROWN real-estate company Keyland Corp. recently broke the ground for its latest P1.2-billion vertical project called 110 Benavidez Makati, targeting potential investors who have the perchance to buy residential properties to lease out.
“Keyland Corp. has been a low key, but progressive, developer of office buildings and high-rise condominium projects primarily in Makati and Alabang central locations. 110 Benavidez, which incorporates both residential and serviced residences to be operated by Ascott International is a strategic move to venture into a viable business model, such as making available a Citadines brand of services residences to be operated, managed and marketed through a strong alliance with Ascott,” said Keyland Corp. Director and President Lito Montinola, who led the traditional groundbreaking and switched on a fountain to signify the flow of life to the site.
According to him, they have carefully chosen design and project development partners who are renowned for their landmark projects—the Aidea Philippines and The Ascott Ltd. He said, “They all followed our mission to build around the five essential elements as the foundation for a sustainable, secure and bankable real-estate product where investors and residents can enjoy hassle-free living.”
In a symbolic ceremony, the elements of water, fire, earth, wind and metal were presented by respective heads of each project group. The Ascott Ltd. Regional General Manager Arthur Gindap lit up a torch to symbolize the firm’s passion for globally recognized expertise in service delivery and strategic location. “Fire is passion. Fire is what stirs life. This is what Ascott aims to deliver to future occupants of Citadines Benavidez Makati,” he said.
For their parts, Aidea Philippines President Jojo Tolentino waved a pennant as an insignia of wind—the continuous cycle of life that powers every living space—as Keyland Corp. Project Development Head Ed Pinga planted a shovel on soil to represent earth. Montinola then capped off the rites by throwing a shower of coins, representing metal to spread good fortune and financial viability for investors of 110 Benavidez Citadines project.
Located in Legaspi Village at the heart of the central business district of Makati, the 32-story residential tower housing a total inventory of 209 units of modern living is currently the rising star of Keyland Corp.’s project portfolio.
Designed primarily for the investor market, it will house the Ascott-operated and managed Citadines Benavidez Makati apart’hotel and aside from private residences. The breakdown will be 142 and 67 units, respectively.
Keyland Corp.’s 110 Benavidez Makati features extensively designed luxury units, conceptualized to exude warmth, class and functionality. Its design philosophy incorporates the five elements, which stand for the development’s key facets, including sustainable living, security, financial viability, harmonious living spaces and a world-class architectural design.
This project boasts of its very contemporary style. What makes it different from other residential buildings is that it utilizes glasses more than what is traditionally used. While in most condominium developments, the amount of this construction material is restricted due to its being costly, Keyland Corp. deliberately decided to be generous by using more than 60 percent of glasses as opposed to 30 percent typically allocated by its counterparts.
“If you look at the façade, the majority is glass, so there’s a lot of lighting and ventilation,” Tolentino said. “We did it that way so that the views are not obstructed. It doesn’t eat up space.”
What’s more, he cited that the air-conditioning system of Citadines Benavidez Makati is different from a normal serviced apartment. He said, “All the air-conditioning [systems] are external. In typical condo units, it’s in front of the units.”
The lower level has retail, nice lobby, and the entrance is very modern. Complementing the stylish architecture of this world-class development are multifunctional amenities, such as the landscaped roof deck, infinity pool, gym and expandable function room.
Because privacy of each resident or guest is a top priority, low unit densities each floor is maintained at either around two to 11. Potential buyers or investors can choose from studio units (ranging from P7.5 million), one-bedroom units (ranging from P12.5 million), or two-bedroom units (ranging from P15 million).
While construction has just commenced following the inaugural last week, 110 Benavides already had a soft launch, following the acquisition of license to sell in February 2017. Targeted for completion in the first half of 2022, preselling of almost half of the unit inventory has been made already.
Motinola told the BusinessMirror that most of their buyers are interested in the serviced component because of the selling point that it’s a worry-free investment. While the majority of them are locals, he revealed that they also get inquiries from prospective foreign clients coming from Japan, Singapore and Dubai.
“Conservatively, we can sell it out in the next two years,” the top executive predicted of the takeup for this project.
Being managed by an international serviced residence owner-operator The Ascott, Citadines Benavidez Makati is expected also to gain a good following from its clienteles.
Keyland Corp. started its operation in 2012 and has since done four residential projects including Casa de Sequoia, Southkey Place, Signa Designer Residences and now 110 Benavidez Makati; and five commercial office developments, such as Keyland Centre, Keyland Ayala, Keyland Valero, Southkey Hub and Keyland Plaza. The company has recently acquired two properties near 110 Benavidez Makati.
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