MEGAWORLD Corp. on Monday said it will build its 20th residential tower in Makati, as it further expands its presence in the country’s premier financial district.
Called San Antonio Residence, the 40-story residential tower will rise on Sen. Gil Puyat Avenue, formerly Buendia Avenue.
The building will have 848 units, ranging from studio types, measuring 25 square meters, to three-bedroom units, sized 93 sq m.
The company declined to give unit prices.
The new complex’s family-oriented lifestyle amenities include an open area, swimming pool, children’s pool, pool deck, dance studio, fitness center, street fitness park, outdoor seating area and function rooms. This residential tower is scheduled for completion in 2020, with projected sales of around P2.1 billion.
“The fast takeup of our residential towers in Makati CBD [Central Business District] is a clear indication that there is a continuing demand for condominium units in this city. While Megaworld continues to expand its township portfolio across the country, the company remains bullish in Makati CBD, as it is already an established, stable and strong market for our residential offerings,” said Eugene Lozano, the company’s vice president for sales and marketing, Makati CBD Group.
During the last two years, three new high-rise residential projects in Makati were launched and sold out within half a year. These were the 30-story Paseo Heights, the 31-story Salcedo Sky Suites and the 31-story Greenbelt Hamilton Tower 1,which have been sold out in less than six months.
The 32-story Greenbelt Hamilton Tower 2 and Three Central are almost sold out.
“In Makati location is always key. The demand is on the prime location, which is the center of the CBD or within the area around the CBD,” Lozano said.
Last year Megaworld announced its plan to increase its portfolio of property developments, specifically residential and office towers, in the Makati CBD to more than 30 buildings by 2016.
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