Park Terraces is a 3-tower development by Ayala Land Premiere. Below is the Location. Will post more info later.

http://img46.imageshack.us/img46/3046/parkterraceslocationmap.jpg

wow! thanks leechtat for this. looks like the Arnaiz Ave is really being developed with Beacon, Columns, Fairmont and now this project rising in years to come. Sana lang they can do something about the traffic and flooding near the P.Tamo intersection area.

^^ actually, the good thing about this development is that it will have contiguous basement parking system, meaning it will have access to the basement parking levels of Ayala Center. So what i understand from this is that a unit owner here can actually exit at any point within Ayala Center i.e. exit/enter infront of Intercon/Gloreitta 4/5.

Yup i agree with you, traffic really should be solved in this area. But if buyers are the ones working nearby, they could walk nalang going to the office

My unit is at beacon, Tower 2 - the Arnaiz side.. so im really crossing my fingers that the area can be developed more and the traffic/drainage improved by the time the projects are completed.

Building views

http://img132.imageshack.us/img132/8122/scan0020s.jpg

Unit Type ~ No. of Units ~ Average Unit Area, excluding balconies ~Average Balcony Area

Studio ~ 96 ~ 42sqm ~ -

1 Bedroom ~ 139 ~ 71sqm ~ 7sqm

Special 1 Bedroom ~ 9 ~ 88sqm ~ -

2 Bedroom ~ 48 ~ 106sqm ~ 8sqm

Special 2 Bedroom ~ 44 ~ 140sqm ~ 15sqm

3 Bedroom ~ 28 ~179sqm ~ 22sqm

3 Bedroom Penthouse ~ 6 ~ 269sqm ~ 50sqm

Nice! Looking forward to see the rendering. Thanks for sharing

how much psm?

sigh.. let's hope its nice and final.

^^ here are more info... LOI are now accepted for the Priority Selling on the Jan 14-20 and Jan 23 and 24.

deleted

more info on the ayala center redevelopement thread --> http://www.skyscrapercity.com/showthread.php?t=527303&page=25

expected lease rates:

http://photos-g.ak.fbcdn.net/hphotos-ak-snc3/hs011.snc3/11841_207219283585_624443585_3008728_740358_n.jpg

Ah the follow up to TRAG. Should be interesting to see if it will be very different and what it's height will be. In the meantime I bet it's not not cheap, my guess is over 100k per sq.m.!

Starts at 170k for a studio! Looks like TRAG is their poorer cousin and Fairmont their richer neighbor.

Ah the follow up to TRAG. Should be interesting to see if it will be very different and what it's height will be. In the meantime I bet it's not not cheap, my guess is over 100k per sq.m.!

From the map provided above, it seems that this will be built on the site of what is now the Anson car center beside Park Square 1.

I don't get why Rockwell is more expensive than the Makati CBD? Ang hirap kaya puntahan at masyadong malayo sa CBD.

Anyway, this project of AyalaLand looks expensive. The locations is "very" prime!

i think that rockwell is more expensive because of its exclusivity. it's gated, and has a round-the-clock security.

Nice JR! Thanks for the update!

I don't get why Rockwell is more expensive than the Makati CBD? Ang hirap kaya puntahan at masyadong malayo sa CBD.


It's not more expensive, just over priced.

Manila is becoming very HK-ish or Seoul-ish in terms of multiple tower housing.

i think that rockwell is more expensive because of its exclusivity. it's gated, and has a round-the-clock security.

Ateng hindi sya gated. Exclusive but not gated. Yung mga condominiums security are just like the same as other condos around the metro. Nadaan lang sa hype that this is the most social place for residence when in fact it's not:nuts:

Ateng hindi sya gated. Exclusive but not gated. Yung mga condominiums security are just like the same as other condos around the metro. Nadaan lang sa hype that this is the most social place for residence when in fact it's not:nuts:

that's your opinion. but i maintain that rockwell is gated, unless you have not been there.

oo nga pala, saan ba ang 'most social place for residence' sa pinas? natanong ko lang kasi sabi mo 'when in fact it's not.'

wow.. this looks very promising... another triplet condo.. nice!

more info on the ayala center redevelopement thread --> http://www.skyscrapercity.com/showthread.php?t=527303&page=25

expected lease rates:

http://photos-g.ak.fbcdn.net/hphotos-ak-snc3/hs011.snc3/11841_207219283585_624443585_3008728_740358_n.jpg

Whether Rockwell is over priced or expensive, the fact is the area commands the highest rental rate in the metrolpolis, so may "k" magcommand ng ganung price. I guess it's because everywhere within Rockwell is posh, lahat ng buildings class A. So investment-wise, for now it may be the best. I have a friend renting out his Joya unit and he can earn 13% p.a.

What I dont understand is why BGC's rental rates are higher than MCBD's. Dahil ba konti pa lang ang condo buildings in BGC relative to makati or dahil puro expensive ang mga tapos ng condos in the area (while makati has a huge no. of choices from low, mid-tier, and upscale - thereby resulting to lower ave. rental rate?). eventually, i think when the upcoming condos in BGC are turned-over in next 2 years, this rate will go down... i just think there are too many supplies of residentials in in BGC for still relatively low office buildings and tenants.

anyway, just my opinion.

that's your opinion. but i maintain that rockwell is gated, unless you have not been there.

oo nga pala, saan ba ang 'most social place for residence' sa pinas? natanong ko lang kasi sabi mo 'when in fact it's not.'

You're right. It is gated. At 12 midnight, the exit/entry points in JP Rizal is closed by gate :). The only exit is thru Estrella, again the entrance is blocked by a closed gate with a guard.

The entry point if you come from Kalayaan is also manned by guards. If you have no stickers going inside Rockwell past midnight, you will be asked by the guards. :)

Ateng hindi sya gated. Exclusive but not gated. Yung mga condominiums security are just like the same as other condos around the metro. Nadaan lang sa hype that this is the most social place for residence when in fact it's not:nuts:

It is true, Rockwell is high end - all condos in Rockwell are expensive. If you don't have at least P5M and pay at least P15K monthly association dues, plus the high real estate taxes assessed by Makati city government, you can't live in that place :)

Park Terraces is a 3-tower development by Ayala Land Premiere. Below is the Location. Will post more info later.

http://img46.imageshack.us/img46/3046/parkterraceslocationmap.jpg

So, it's in front of Dusit hotel? it's a parking lot right now beside those restaurants such as Max's, etc.
Nice location.

Whether Rockwell is over priced or expensive, the fact is the area commands the highest rental rate in the metrolpolis, so may "k" magcommand ng ganung price. I guess it's because everywhere within Rockwell is posh, lahat ng buildings class A. So investment-wise, for now it may be the best. I have a friend renting out his Joya unit and he can earn 13% p.a.

What I dont understand is why BGC's rental rates are higher than MCBD's. Dahil ba konti pa lang ang condo buildings in BGC relative to makati or dahil puro expensive ang mga tapos ng condos in the area (while makati has a huge no. of choices from low, mid-tier, and upscale - thereby resulting to lower ave. rental rate?). eventually, i think when the upcoming condos in BGC are turned-over in next 2 years, this rate will go down... i just think there are too many supplies of residentials in in BGC for still relatively low office buildings and tenants.

anyway, just my opinion.

^^ that is correct. Rockwell enjoy a high rental rate since all of its residential buildings are high-end. Makati caters to a larger demographic. BGC is the same as Rockwell, offering more high-end developments, which in the future will have more commercial and corporate buildings. See also my post in North Bonifacio about this...

Now, Ayala Center lease rates are more expensive than Rockwell. See below for lease rates:

http://photos-g.ak.fbcdn.net/hphotos-ak-snc3/hs011.snc3/11841_207219338585_624443585_3008737_1279878_n.jpg

got the height, its 187 meters each tower.

hindi pa pinaabot ng 200m. sayang naman. :ohno:

got the height, its 187 meters each tower.

Ateng hindi sya gated. Exclusive but not gated. Yung mga condominiums security are just like the same as other condos around the metro. Nadaan lang sa hype that this is the most social place for residence when in fact it's not:nuts:

It is gated. Kalayaan and JP Rizal access are both gated. And what's more? There's another gate to the residential row of Hidalgo, Rizal and Luna Towers where passerby is not allowed.

^^ here are more info... LOI are now accepted for the Priority Selling on the Jan 14-20 and Jan 23 and 24.

Warning large images.
http://photos-c.ak.fbcdn.net/hphotos-ak-snc3/hs011.snc3/11841_207203403585_624443585_3008645_7033617_n.jpg

http://photos-a.ak.fbcdn.net/hphotos-ak-snc3/hs011.snc3/11841_207203418585_624443585_3008646_5957985_n.jpg


All exciting new developments. Thanks for sharing JP. I've noticed on above photo that there will be three more towers on what is now the location of Park Square. Arnaiz St is becoming a high rise residential haven!

^^ I was right: this development will be built on top of the current Anson car center! :banana:

looks like a trag replication.

Actually, theres a lot of guards here on the road on daytime to help cars and pedestrians. They can be seen almost everywhere and they are strict and checks the security for the surrounding areas also

I already have the price list! please PM me if you like to peruse a copy.

^^^ salamat sa price list na e-mail mo sa akin. tanong ko lang ay diba parang matatakpan halos lahat ng views ng Tower 1 dahil sa Tower 2 & 3 at future development? parang maganda yata kung sa Tower 2 o 5 bibili.

i got the whole project brief and the pricelists from an insider few days ago. good to know that its 30% - 35% higher than the prices at trag back then.

tower one will have views i'm sure because ayala will never make another skyscraper out of that future development. it will most likely be another mall.

^^^ salamat sa price list na e-mail mo sa akin. tanong ko lang ay diba parang matatakpan halos lahat ng views ng Tower 1 dahil sa Tower 2 & 3 at future development? parang maganda yata kung sa Tower 2 o 5 bibili.

^^ No problem. Actually, i would say that the distance of tower 1 to tower 2 and 3 of Park Terraces will most likely be the same distance as that of TRAG's San Lorenzo tower from Laguna and Manila Towers. See this photo i took of Trag and notice their distances. Obstructed views from units at Tower 1 in Park Terraces will be minimal.

http://photos-d.ak.fbcdn.net/hphotos-ak-snc3/hs031.snc3/11841_183461328585_624443585_2868740_8329471_n.jpg

But basically, i would say to my buyer who is conscious of a future obstructed view to get units F, E or D and units A or L at Tower 1 of Park Terraces. See floor plan below:

http://img32.imageshack.us/img32/6026/scan0013me.jpg

regarding future development area beside the Park Terraces lot, we are still unsure if its going to be another 3-tower development or so. But surely, since this is an Ayala Land controlled area, as they are the master developer of Ayala Center, I would surmise that they will protect the interest of their Ayala Land Premiere buyers. So, I am betting the buildings on that area will be skewed to a point where the building will not parallel each other, hence optimizing the possible views from the Park Terraces condo vantage point.

http://photos-c.ak.fbcdn.net/hphotos-ak-snc3/hs011.snc3/11841_207203403585_624443585_3008645_7033617_n.jpg

Also, this photo i took pala of the Raffles area below shows the site of Park Terraces at the mid left part of the pic.

http://photos-f.ak.fbcdn.net/hphotos-ak-snc3/hs031.snc3/11841_185155138585_624443585_2883502_329806_n.jpg

Ayala land's leadership must be well educated based on their masterplan on the Ayala Center. Who is the current president of Ayala Land?

antonio aquino is the president of ayala land. he used to be the president of manila water until he was brought in when jaime ayala was called up to the parent company, ayala corp because of threats from conglomerates smc and mvp group of companies suddenly getting too big too fast and gobbling up all these big deals.

^^^ salamat sa price list na e-mail mo sa akin. tanong ko lang ay diba parang matatakpan halos lahat ng views ng Tower 1 dahil sa Tower 2 & 3 at future development? parang maganda yata kung sa Tower 2 o 5 bibili.

ALI carefully studied the future views of each Tower for TRAG. Why the view will be one of the selling points for each tower. So they'd better do good on this one - which they did for TRAG. Based on the placement of each Park Terraces' tower on the map, they will be aptly distanced from each other so the views should be the least to be worried about.

I like the idea of having it connected with Glorietta through underground tunnels. The same way Ayala did for G4 and G5.

I 'toured' an officemate along this walkway. He was surprised to see we have stuff like this in Makati. He spent several years in Korea after college.

I'm hoping the sky garden/park will materialize. Pretty much like Exchange Plaza in Central HK. Just more greens this time. The basement and ground levels can serve as parking lot/terminal while the upper open level is a serene open park for the public.

we're actually just catching up w/ HK. You can go from one place to the other in Central without going outside and getting exposed. all the buildings at central have underground connected bridgeways that houses luxury retail shops. so the walk will not feel long bcoz u can actually window shop on the way to your destination.

^^ that's right. and the good thing is...there's no guard to poke at your baggage for every entry point.

PROJECT CONCEPT AND MASTERPLAN
Park Terraces is the prime residential enclave in the newly redeveloped Ayala Center. Its Ayala Center address provides residents all the convenience as well as little luxuries within arms’ reach.
Park Terraces will be a three-tower development, with a shared motor court and a contiguous basement parking. Towers 1 and 2 will share a lobby and podium amenities. Tower 3 will have its own lobby and podium amenities. Retail spaces for establishments such as cafes, restaurants, wellness outlets, and service retail will be located at the ground level. Located at the eastern side is the landscaped greenery, which also serves as a pedestrian access to Glorietta. Park Terraces’ basement parking will have an underground connection to the basement parking system of Ayala Center. This will give residents the choice of multiple access points to and from main Makati City thoroughfares.
AMENITIES AND FACILITIES FOR TOER 1 AND TOWER 2
• Outdoor infinity lap pool
• Fully equipped fitness center
• Social hall
• Function rooms
• Indoor and outdoor children’s play areas
• Courtyard Gardens at the Podium level
TOWER 1 BUILDING FEATURES
EFFICIENCY FEATURES
• Motion sensors for lights in select common areas
• Maximized natural ventilation for common areas
• Efficiency features for Common Area toilet fixtures*
SAFETY AND SECURITY
• Semi-addressable fire detection and alarm system
• 24-hour security and building maintenance*
• Proximity card access for security
• 100% back-up power
CONVENIENCE & SERVICES
• Four (4) High Speed Elevators
• Four (4) levels of basement parking*
• Elelgantly-designed, air conditioned Ground Floor lobby*
• Mail Room
• Administrative Offices and Conference Rooms*
• Centralized sanitary disposal system
• Provision for a Laundromat*
*to be shared by residents of Tower 1 and 2

--> more here: http://www.scribd.com/doc/25221853/Ayala-Park-Terraces-Facts

Park Terraces
Reshaping Makati's skyline
January 20, 2010, 5:08pm
MB

Through the decades, Ayala Land Premier’s progressive urban planning and world-class standards have kept Makati up-to-date with global standards and lifestyles.

The city has certainly grown into a top tier financial district that merges residential and commercial establishments with a wide variety of choices complementing diverse lifestyles. And with Ayala Center’s recent redevelopment underway, it continues to bring new energy to the city’s luminescent skyline, whose structures have become markers of change, progress and diversity.

Adding to the renowned skyline is Ayala Land’s latest residential enclave, Park Terraces. Situated at the heart of Ayala Center, it offers premier living spaces, providing residents with all the conveniences as well as luxuries they need.

The three-tower development is Ayala Land Premier’s first sustainable vertical community anchored on globally benchmarked building principles, setting the bar for premium developments all over the country. It is set to draw interest from buyers both in the Philippines and abroad, adding to the international appeal of Makati.

Creating a refined, urban lifestyle that offers the luxury of choice, the project presents a balanced mix of premium business and leisure establishments easily accessible to all its residents. Given its networked location and accessibility to the services and choices of Ayala Center, future residents’ needs are taken care of and are complemented by the new community’s concierge services.

This new project delivers top tier standards to an already bustling urban landscaped, shaped by Ayala Land. The Residences at Greenbelt which has redefined the high life; One Serendra which has made gracious suburban living possible within city limits and One Roxas Triangle which has taken luxury into every detail of the home – all of these have helped form Ayala Land Premier’s strong reputation for delivering distinguished real estate to clients.

Update! :banana:

ALI allots P20 billion for Ayala Center facelift (http://www.philstar.com/Article.aspx?articleId=542392&publicationSubCategoryId=66)
By Zinnia B. Dela Peña (The Philippine Star (http://www.philstar.com/Article.aspx?articleId=542392&publicationSubCategoryId=66)) Updated January 21, 2010 12:00 AM


MANILA, Philippines - Bent on keeping the Makati central business district at the forefront of masterplanned developments in the country, property giant Ayala Land Inc. (ALI) is injecting P20 billion over the next three to five years for a major facelift of the 40-year-old Ayala Center.

The redevelopment of the five-hectare Ayala Center, the flagship mixed-use urban city complex of the Ayala Group, is being hailed as a long-sought catalyst for the rebirth of Makati, the country’s financial capital.

The move also signifies ALI’s bullish stance on the real estate industry, which has seen remarkable growth since the second half of last year.

Following a cautious tack in 2009, ALI is aggressively stepping up its construction and investment activities with plans to sell a total of 9,200 residential units this year or nearly four times the number of units sold the previous year, said company chairman Fernando Zobel de Ayala in a press briefing Tuesday night.

Zobel said ALI’s bullishness stems from the return of investor confidence, stable remittances from overseas Filipino workers, low interest rates and improving global market conditions.

“The first half of last year basically had everyone moving very cautiously as we saw the crises in the US and Europe unfold. But we saw a very dramatic turn when we got to June of last year. With a renewed confidence and a feeling that people wanted to go back to the market once again after they have seen the US crisis play out, we saw the market pick up quite significantly starting in July last year. The market went on to gain quite a bit of strength towards the end of last year and we’re seeing a strong start up to this year,” Zobel said.

“The conditions continue to strengthen for a very robust real estate cycle, interest rates continue to be low, remittances continue to grow although the growth has been less than the past years and banks are in a very healthy condition,” he added.

For its first salvo this year, ALI is accelerating the makeover of Ayala Center with the construction of an upscale residential enclave, (Park Terraces), two office buildings, a shopping mall and a businessman’s hotel.

Less than half of the programmed P20-billion capital budget will go to Park Terraces, with the rest going to the continued refurbishment of the retail shops and the establishment of office buildings. The project would be financed largely by internal cash and some borrowings the company has previously arranged.

ALI president Antonino Aquino said this would be the most ambitious redevelopment of the Ayala Center, which has undergone three makeovers since the 1960’s.

Aquino said the three-tower Park Terraces, will make available a total of 370 units, priced at between P5 million and P40 million. Unit sizes range from 37 square meters to 270 square meters.

priority selling on sunday at makati shangri-la, quezon ballroom, for those who submitted e-letter of interest.

for the grand launch, it will happen on the 28th.

just got back from Shangri-La Makati for Park Terraces Priority Selling. Surprisingly, Tower 1 is almost sold out, even the penthouse are gone! Available units are studios and 1-bedrooms... I can surmise that its 90% sold.

weeh? here we go again with the hype.

just got back from Shangri-La Makati for Park Terraces Priority Selling. Surprisingly, Tower 1 is almost sold out, even the penthouse are gone! Available units are studios and 1-bedrooms... I can surmise that its 90% sold.

According to the price list I saw, not all floors are being sold in this round? Only around 50% of the floors are listed in the price list.

Pricing is quite aggressive. For example, 27th floor units (those without balconies) are being offered at around P130k to 140k per sqm, excluding VAT, parking and other charges. Including 12% VAT you are looking at P145k to 157k per sqm. And based on a sample computation I received, Ayala Land offers instalment payment terms but with a 14% p.a. built in financing cost....

Why is parking excluded in the price list? Is it being sold separately from the sale of the units?

Looks like recession is over. :banana:

DMCI, SM and Ayala projects keeps going up in price.
Very good sign. ^^

weeh? here we go again with the hype.

^^ uhm. excuse me. i do not do hype. thanks. i apologize though if you encountered that with your previous seller. :) peace.

According to the price list I saw, not all floors are being sold in this round? Only around 50% of the floors are listed in the price list.

Pricing is quite aggressive. For example, 27th floor units (those without balconies) are being offered at around P130k to 140k per sqm, excluding VAT, parking and other charges. Including 12% VAT you are looking at P145k to 157k per sqm. And based on a sample computation I received, Ayala Land offers instalment payment terms but with a 14% p.a. built in financing cost....

Why is parking excluded in the price list? Is it being sold separately from the sale of the units?

^^ Hi, actually po... Because of the demand, they opened all the floors for sale last weekend. Parking is not appurtenant and its optional for studios and 1-bedrooms, main reason why its not included in the pricing.

Also, there is interest on terms below 20% down payment. Why? I am not sure. But this could be mainly attributed to their traditional limiting of demographics.

available units are the ones with a check mark...

http://img198.imageshack.us/img198/420/parkterracesavailabilit.jpg

^^ with all tranches opened up for sale...

Some Payment Options For 1-Bedroom in Park Terraces

20% Downpayment, 80% Till January 2015 -- http://img204.imageshack.us/img204/1452/parkterraces1bedroom208.jpg

10% Downpayment, Another 10% spread over 18 months, 70% Bank Proceed. With Interest. -- http://img204.imageshack.us/img204/5049/parkterraces1bedroom102.jpg

Cash in 30 Days -- http://img193.imageshack.us/img193/7865/parkterraces1bedroomcas.jpg

i just came back from Cebu terraces..nice..but its a Greenbelt clone.
Shame Park Terraces is a clone of Greenbelt Residences...could have been "ICONIC"
I suppose its saving money just tweaking the architecture and using the same firm.

but thats why the older makati buildings look ugly...they all looked like Locsin concrete clones.(especially Ayala Avenue between Paseo and Makati Avenue)
ditto to the Arya condo in the fort. The twin towers are copies of Fairways and Rizal Rockwell.

Budgeting by the developers keeps architectural innovations to a minimum even if Pinoy architects are lusting to show off their creativity

availability... 91% sold.

http://img651.imageshack.us/img651/420/parkterracesavailabilit.jpg

Photos of Ayala Park Terraces Rendering and Scale model.

http://img52.imageshack.us/img52/8194/img6039.jpg

http://img651.imageshack.us/img651/7599/img6051.jpg

http://img651.imageshack.us/img651/7735/img6052k.jpg

http://img52.imageshack.us/img52/679/img6053.jpg

http://img15.imageshack.us/img15/9969/img6054k.jpg

http://img137.imageshack.us/img137/3741/img6055q.jpg

http://img52.imageshack.us/img52/4657/img6056.jpg

The Grand Launch of Ayala Park Terraces happened yesterday at the Rizal Ballroom of Makati Shangri-la. After the event, Tower 1 is 91% Sold. Congratulations investors. Today, there has been no announcement yet of an imminent price increase.

Nice,typical Ayala design,the Residences and Avida

from the looks of it hindi na naman siya floor to ceiling windows on all units. which is disappointing. considering the price/sqm.

Can't ayala build all of these exclusive towers at the same time? Shang can.

Is this at par with prices with Roxas Triangle tower? The latter has floor to ceiling windows and for me the building design is probably the best among Ayala's residentials. Filinvest manage to construct 2 glassy tower residentials in Fort and the 3 towers in Alabang simultaneously. Impressive feat for Filinvest.

from the looks of it hindi na naman siya floor to ceiling windows on all units. which is disappointing. considering the price/sqm.

oo nga, minus pogi point.

Photos of Ayala Park Terraces Rendering and Scale model.

The Grand Launch of Ayala Park Terraces happened yesterday at the Rizal Ballroom of Makati Shangri-la. After the event, Tower 1 is 91% Sold. Congratulations investors. Today, there has been no announcement yet of an imminent price increase.

pano ang systema HOA dues dito? parang may nabasa ako dati sa TRAG thread na mas mataas yata HOA dues ng isang tower.

^^ that is true for filinvest. Ayala Land seems to be sticking to their traditional designs.

when i asked them the same question, they said that ORT was built in a time when the materials used for its construction are relatively cheaper than today. So we might not see something like ORT from them anytime soon. Maybe for the corporate offices we will see more glassy buildings.

As for building towers at the same time, ALI can do that also imho. ALI is conservative though, they take their time but they deliver. Well, except for Ayala Tower 2, which as of now is not yet built.

anyhow, below are the floor plans of the only available units left.

http://img218.imageshack.us/img218/6290/parkterraces3rdto18thfl.jpg

http://img23.imageshack.us/img23/9076/parkterraces40thto46thf.jpg

pano ang systema HOA dues dito? parang may nabasa ako dati sa TRAG thread na mas mataas yata HOA dues ng isang tower.

Here are the info I rewritten from their brochure:

5. How much are the association dues?

The association dues will be computed at the time of the establishment of the Condominium Corporation, based on the formula indicated in the Master Deed. Current average monthly association dues of similar type-condominium developments range from PP 93/sqm to PHP 115/sqm. Payment of association dues will commence upon turnover of the unit to the buyer.

6. Will the area of the balcony be included in the association dues?

The balcony being a Limited Unit Common Area will only incur expenses, such as Real Property Tax and insurance. The master deed requires the unit owner to pay for the share in the expenses of all Limited Unit Common Areas. The share will depend on the size of the balcony and/or Limited Unit Common Area of the unit relative to the total Limited Unit Common Area in the tower.

7. Will the dues for the amenities at the towers be shared among all the unit owners of Park Terraces?

At full development, Tower 1 and Tower 2 residential unit owners will share the amenities, thus, they will also share in the maintenance and operating costs of these shared amenities. The motorcourt and easements at the ground floor and basements, as well as the other common areas identified to be shared by the three (3) towers, will be shared by all three towers. Common areas identified as those shared with the Commercial units will be shared by the residential towers and the commercial units.

For more info, see the pdf file i uploaded via scribd: http://www.scribd.com/doc/25221853/Ayala-Park-Terraces-Facts

if you buy two adjacent units, can u combine them together for a bigger space? or not?

^^ i know you can't for this project. but you can negotiate this. though, on the other hand, there is no more available small units that can be combined except for the 3-bedrooms.

i just came back from Cebu terraces..nice..but its a Greenbelt clone.
Shame Park Terraces is a clone of Greenbelt Residences...could have been "ICONIC"
I suppose its saving money just tweaking the architecture and using the same firm.

but thats why the older makati buildings look ugly...they all looked like Locsin concrete clones.(especially Ayala Avenue between Paseo and Makati Avenue)
ditto to the Arya condo in the fort. The twin towers are copies of Fairways and Rizal Rockwell.

Budgeting by the developers keeps architectural innovations to a minimum even if Pinoy architects are lusting to show off their creativity

Ayala Terraces Cebu is bigger than Greenbelt. They have a wide open space at the center.

which has a better architectural (exterior) design: the trion or the park terraces? just asking for honest opinions.

thanks.

^^ :lol: seriosuly eaton_sqaure, those two projects are like apples and oranges. you may compare this with TRAG though, wherein basically they look the same... Trion Towers are like SMDC projects. hope that helps.

sorry, but what does smdc stand for? thanks.

OT: ^^ its ok po. SM Development Corp., the developers of Light, Jazz, Wind, Sea, Sun and Grass Residences.

i've been getting calls/texts from ali sales agents ever since this project was launched. they tell me how this is a lot better compared to trag which is short of magnificent. funny becoz a few yrs ago when they were selling me trag, which i bought, they told me this is the best and the most magnificent condo project blah blah coz ur right inside the greenbelt complex. isn't it ironic that they hail a project, and then when its sold and they launch another one, they tell u that the previous ones they were selling is cracked egg? geez...these sales people, it never ends.


anyways, my personal take on this one:

i think u can speculate that the finishings and facilities could be better than trag, since it is a newer project. i mean developers, esp ali, would be constantly innovating for sure.

but when it comes to the "elite factor", this one falls short of trag in my opinion. for one thing, u got studio units, which trag doesn't have. and another thing, there's way too much unit in a floor. whereas w/ trag its only 6-7 units(at least w/ my tower).

ORT and PPT and ESSENSA are older than trag, but u can't tell me that trag is better in terms of exclusivity. its obviously the former that have it.

this is just my take. nothing wrong, nothing right. i'm sure its a great investment park terraces.

^^ this is perfectly true amongst some sales people. TRAG is somewhat similar to Park Terraces but it does not mean that its better. Park Terraces offers an Ayala Land Premiere product to a wider demographic. At almost Alveo Land prices, people who would rather choose a smaller unit can avail this project.

the park terraces location is simply superb. imagine living in the center of it all.

leechtat: its an ayala land premier product allright. with the finishings and locations and all that glory. but it is in no way an alveo price. the price is also a premier price. hehehe. but i think its worth it. the columns in buendia looks like a "never were"...not even a "has been"

leechtat: its an ayala land premier product allright. with the finishings and locations and all that glory. but it is in no way an alveo price. the price is also a premier price. hehehe. but i think its worth it. the columns in buendia looks like a "never were"...not even a "has been"

Columns in Buendia looks a good complex in a good location

Columns in Buendia looks a good complex in a good location

i agree!

the park terraces location is simply superb. imagine living in the center of it all.

The site is the best there is so far. I chose a G unit since these 1 BR units are one of the less expensive ones (maybe because of its west orientation and trapezoidal shape). Turned out to be a good choice because you not only have a good view of San Lorenzo Village (which has lots of mature and towering trees, and one of Makati's elite villages), but also a view of the outdoor infinity pool below.

Five 3 bedroom units left...

see this: http://www.scribd.com/doc/26541941/AyalaParkTerraces-45D

Great location, hard to beat for convenience...same as TRAG.. I don't really like the design though, each tower looks ok by itself but the way they are orientated to each other looks odd..and it looks as though they are all the same height. TRAG has better design imo.

It's not more expensive, just over priced.

I agree...it's over priced and I have stayed on both Joya and Manansala. Their amenities are average and there's nothing going on there. They are pretty much for retirees in my opinion.

true, it is overpriced right now. but 5 yrs from now, people would be banging their heads in the wall for not buying one...


it's a vicious cycle. hehehe...

agree. heard that tower 1 is now sold out (in less than a month) and that tower 2 may start selling very soon. for tower 3, heard that these will be all 3BR units.

true, it is overpriced right now. but 5 yrs from now, people would be banging their heads in the wall for not buying one...


it's a vicious cycle. hehehe...

I think TonyBoy is talking about rockwell condos and not Park Terraces.

tower one was sold in less than 2 weeks. tower two may be out later this year since they were also surprised of the fast uptake of this high-end condo. i agree with sir pat3ck. great location. i also love the contiguous parking system concept. you can enter the basement parking from any part of ayala center and you can go directly to your park terraces parking slot/unit. very convenient imho.

leechstat - can you email me the price list of the avail units in Park Terraces? I prefer a 1 bedroom unit but would consider a studio for this development. I believe you still have my email address.

Thanks.

^^noted. email sent. your unit preferences are already sold out though.

a penthouse reopened though --> http://www.scribd.com/doc/27038083/Ayala-Park-Terraces-Penthouse-49B-For-Sale

i meant that statement for all high quality condo buildings.


nice parking system. does trag have that with greenbelt complex or not?


ever since my trag unit got turned over to me, i have been using my parking slot whenever i'm going to hang out in greenbelt. sooooooo convenient. walang kaagaw. saves me P50 bucks everytime. plus the guards at greenbelt 2 salutes me for some reason and gives me a gracious greeting. prolly coz he sees me coming out of the trag complex. the perks, the perks.

thanks, leechtat. If there are other units (even re-sale) that become available, please let me know. I prefer Ayala/Avida/Alveo condos over other condo development.

Anyone know who are the firms included in the Design Team? Architects? They don't seem to mention it. Thanks! And how much is a parking slot.

Guys...I have several 1BR units available for Park Terraces Tower 1. Mid-floors, facing East and facing West, all with balconies.

Let me know if you need more information :)

i meant that statement for all high quality condo buildings.


nice parking system. does trag have that with greenbelt complex or not?


ever since my trag unit got turned over to me, i have been using my parking slot whenever i'm going to hang out in greenbelt. sooooooo convenient. walang kaagaw. saves me P50 bucks everytime. plus the guards at greenbelt 2 salutes me for some reason and gives me a gracious greeting. prolly coz he sees me coming out of the trag complex. the perks, the perks.

@pat3ck

I don't think TRAG has the same contiguous parking system similar to Park Terraces. The parking area in TRAG are at the podium level while Park Terraces' are basement parking.

Building on Makati's cornerstones (http://www.philstar.com/Article.aspx?articleId=572910&publicationSubCategoryId=76)
(The Philippine Star (http://www.philstar.com/Article.aspx?articleId=572910&publicationSubCategoryId=76)) Updated May 07, 2010 12:00 AM


MANILA, Philippines - As the country’s most vibrant hub, Makati is known for its energy and dynamism. As a great example of an urban capital, the city marries industry, society and business amidst modern architecture and lush greens. Its evolution into a cosmopolitan center speaks of the pioneering spirit and vision of those who have built up the city through the years.

Top-of-the-line medical facilities, internationally renowned schools, and the country’s most architecturally-recognized buildings all converge in this dynamic city. Makati’s development has also been inextricably linked to the support and innovation spearheaded by Ayala Land—condominiums such as The Regency, One Salcedo, Two Salcedo and Three Salcedo Park, which line Jaime Velasquez park and whose residents bring life to the Saturday neighborhood Saturday market, One Roxas Triangle, and world renowned lifestyle centers like Greenbelt, and institutions such as the Ayala Museum.

Cornerstones can be found throughout the city. The quiet streets of Legazpi Village overlook the surprising oasis that is Washington Sycip Park. The Residences at Greenbelt merge daily life with boutiques, cafes and restaurants. In addition, Ayala Land Premier will soon break ground with its latest residential venture; Park Terraces, right at the heart of the Ayala Center—creating yet another Makati cornerstone that people can look forward, and up to.

The world-class standards on which each of these developments was built show Ayala Land’s firm commitment to pushing the envelope in design, urban planning, and in creating a way of life that is in sync with the global community. Park Terraces, promises a heightened connectivity—one wherein proximity to retail and business areas is high priority via its interconnected underground parking that links the development Glorietta and to the best of Makati’s destinations. Park Terraces acknowledges the need for privacy and offers areas and amenities to give a much-needed retreat to those looking to relax in the middle of urban living. Ayala Land is set to continue its firm belief in bettering the built environment as well as the living experiences that affect and are influenced by it in projects that are up to date, relevant and promise excellent convenience.

As Ayala Land envisions the Makati of today and of the future, it draws out plans that cater to new markets and new needs—needs that evolve along with the dynamic pace of an ever-changing metropolis. Makati is no stranger to change, and the rapid new developments being introduced by Ayala Land, such as Park Terraces, are sure to usher in sweeping transformations that will revitalize and re-energize the built environment and the people who inhabit it. As life in the urban landscape presents city dwellers with more innovations and more advancements, Ayala Land is committed to creating experiences that make every area of life in this vibrant city even better.

For inquiries on Park Terraces, call 841-5769, email ask@ayalalandpremier.com or visit www.ayalalandpremier.com.

some units for lottery.

http://img15.imageshack.us/img15/4342/parkterracesmay2010.jpg

Tower 1 is in the middle

Tower 2 is on the right (supposedly Towers 1 & 2 will be twin towers)

Tower 3 is on the left, which is most proximic to Ayala Center (it will be a distinct building from Towers 1 & 2)

*Tower 3 is planned to be launched late this year. Tower 2 was supped to be launched before Tower 3, but certain reasons were seen for this change

By the way, as of 14 MAY 2010, I have 8 1BR UNITS AVAILABLE!
Message me if you want the details

http://pic60.picturetrail.com/VOL1677/12566065/22794101/379403088.jpg

http://pic60.picturetrail.com/VOL1677/12566065/22794101/387315660.jpg

http://pic60.picturetrail.com/VOL1677/12566065/22794101/387315344.jpg

http://pic60.picturetrail.com/VOL1677/12566065/22794101/387316083.jpg

http://pic60.picturetrail.com/VOL1677/12566065/22794101/387315351.jpg

Floor to ceiling glass windows
http://pic60.picturetrail.com/VOL1677/12566065/22794101/387315283.jpg

Kudos to the Ayala Land! They're making Makati and BGC look like Seoul or Hong Kong!:cheers::cheers:

ALI steps up Ayala Center redevelopment (http://www.philstar.com/Article.aspx?articleId=577838&publicationSubCategoryId=66)
(The Philippine Star (http://www.philstar.com/Article.aspx?articleId=577838&publicationSubCategoryId=66)) Updated May 24, 2010 12:00 AM

MANILA, Philippines - Ayala Land Inc. (ALI) took another step forward in the redevelopment of the Ayala Center, at the heart of the Makati Central Business District, pouring its first batch of concrete onto what will soon be a renewed site for active urbanites.

The ongoing Ayala Center redevelopment will transform Makati’s premier shopping hub into a world-class mixed-use development that will cater to the needs of urban dwellers. It will feature an integrated community with new shopping, lifestyle and entertainment areas, office developments, residential condominiums, and hotels while enhancing traffic and pedestrian mobility through efficient use of open spaces.

According to ALI President and CEO Antonino Aquino, the planned redevelopment of Ayala Center is in line with the company’s over-all growth and sustainability strategy.

“What we aspire to do in the coming years is to grow with and move in the same direction as our customers,” Aquino said. “The plan for Ayala Center was borne out of an in-depth and careful study on what our customers need, want, and dream about. It’s really about providing people with an enhanced living, working and shopping experience,” he said.

At the forefront of this redevelopment will be the introduction of a new concept that will be the new Glorietta. It will showcase the best retailers and merchandise and offer unparalleled shopping, dining, and entertainment experiences that will reinforce the Ayala Center as a key destination in the metropolis.

Part of the redevelopment project also aims to improve the functionality and attractiveness of Ayala Center by rationalizing traffic, parking, pedestrian mobility and overall user convenience. Intercept ramps assembled to lead into interconnected, underground car parks will make it easy for vehicles to get in and around Ayala Center.

Another distinct feature to be developed is Palm Drive, a new major pedestrian-friendly boulevard connecting Makati Avenue to EDSA. This main artery will be shaded and lined with retail shops offering pedestrians a more relaxing trek around the Ayala Center.

New outdoor landscaped spaces will provide for more places to gather, bond and rejuvenate with family and friends. A re-energized Activity Center will become a venue for a diversity of uses and events that will complement and reinforce each other, generating round-the-clock activity and vibrancy.

The redevelopment will also include the construction of two new office buildings located within the Ayala Center. The office development will be composed of two mid-rise buildings with six to seven storeys built on top of the mall. It will have a combined GLA of approximately 39,000 sqms. Designed according to Grade A specifications, each building will be equipped to handle the 24/7 requirements of Business Process Outsourcing (BPO) firms. Potential locators will have a dedicated lobby for each building at the ground floor with easy access to the mall, drop-off areas as well as the other facilities around Ayala Center.

Internationally-branded hotels will provide a wide array of choices that appeal to discerning travelers and professionals. Aside from the development of the 300-room Fairmont Hotel and 30-suite Raffles Hotel, a 15 story 347-room internationally branded businessman’s hotel will rise on top of the redeveloped Ayala Center. The new hotel will have a wide range of business facilities and amenities.

In addition, the latest residential venture by Ayala Land Premiere, Park Terraces, will soon rise right at the heart of the Ayala Center, creating yet another Makati cornerstone. Park Terraces, promises a heightened connectivity — one wherein proximity to retail and business areas is high priority via its interconnected underground parking that will link the development directly to Glorietta and to the best of Makati’s destinations.

Like other Ayala Land projects, the Ayala Center redevelopment abides by a strong commitment to sustainable design and building benchmarks. Many portions are reserved for landscaped parks and pathways that will provide a healthier, more refreshing environment for everyone to enjoy.

Great news, guys!

For those seeking to buy a unt in Park Terraces, there are several new openings:

1BR units on the following levels (11 units on each level): 5th, 6th, 11th, 14th, 17th, 20th, 24th
*approx. P10M

regular 2BR units available on the following levels (11 units on each level): 6th
*P12.624M

special 2BR units available on the following levels (only 6 units on each level): 24th, 33rd
*approx. P18M

3BR units available on the following levels (only 4 units on each level): 40th, 41st, 43rd, 44th, 45th, 46th


*regular 2BR units and special 2BR units have been the unit types most demanded. I have 1 regular 2BR unit available and 2 special 2BR units available

**take advantage of 5-year payment term at 0% interest on all units

Hi guys!

Just an update...

If ever anyone is seeking for a 1BR unit or a regular 2BR unit, please contact me.

For the 1BR unit, I have 2 units available at the lowest price range (as per Park Terraces). Units are on the 17th floor(11 units on this floor) and on the 20th floor (only 6 units on this floor).

Prices:
1BR units
17th floor 1BR unit - P9.516M - 72 sqm (no balcony) facing San Lo and Park Terraces swimming pool
20th floor 1 BR unit - P9.27M - 64 sqm (no balcony) facing Dusit Thani Hotel

2BR units
6th floor regular 2BR unit -P12.624M - 103 sqm (plus 2 balconies) facing Fairmont Hotel & Raffles Residences

*prices quoted above are exclusive of VAT & other charges.
**all units are eligible for 20% downpayment, 80% spread until turnover (January 2015) at 0% interest

For floor plans and sample computations, please feel free to message me or contact me through mobile number.

Ciao!

UPDATE:

1BR units
http://pic60.picturetrail.com/VOL1677/12566065/22794101/388913769.jpg

http://pic60.picturetrail.com/VOL1677/12566065/22794101/388913746.jpg

http://pic60.picturetrail.com/VOL1677/12566065/22794101/388914113.jpg

Feel free to contact me anytime.

Ciao!

Studio Unit (29th floor) up for lottery
Price is P6.3-M
Size is 44 sqm
Unit is facing San Lorenzo Vill and the Park Terraces swimming pool

Lottery is on Wednesday (30 June 2010)
*The lottery is simply a system wherein ALP draws lots randomly to decide to which buyer the units will be awarded to. In order to be aprt of the lottery, you may contact me.

Deadline for submission of requirements (Reservation Form and Reservation Check) will be on Monday (28 June 2010).

Contact me for assistance.

Ciao!

Update:

Ayala Land Premier will launch the next installment of Park Terraces by September 2010! Tower 1 was launched last January 2010. This September, it will be Tower 3!

*FYI: Towers 1 & 2 are supposedly twin towers and are identical. Tower 3 is intended to be a uniquely designed tower compared to Towers 1 & 2.

For those interested, Letters of Intent may be submitted through me as early as now to guarantee a slot in the priority selling.

Ciao!

any photo updates of Tower 1.....

scale model..

http://sphotos.ak.fbcdn.net/hphotos-ak-snc4/hs305.snc4/40581_430889818585_624443585_4836814_5697700_n.jpg

http://sphotos.ak.fbcdn.net/hphotos-ak-snc4/hs271.snc4/39882_430889473585_624443585_4836811_4029728_n.jpg

showroom is already up at level 4 greenbelt 5, near peking garden.

very timely upload JP!

Just an update for everyone in here...

Park Terraces Tower 3 will be launched September 30, 2010.

I will be attending a briefing on Tower 3 next week. Message me if anyone wants info immediately.

FYI, Tower 3, according to some, will be named uniquely, somewhat in the same manner as The Residences at Greenbelt. I guess it will be done so as to match Tower 3's exclusivity among the 3 Towers in Park Terraces since it will have its own amenities and lobby, unlike Towers 1 & 2 which share the same amenities and lobby.

I am already assisting Letters of Intent from some buyers. I can still include you in the list asap.

Cheers, y'all! :)

http://pic60.picturetrail.com/VOL1677/12566065/22794101/391068308.jpg

As you can see, Towers 1 & 2 are identical.

Tower 3 has a different design, and most probably, have a different set of unit layouts altogether.

Tower 3 is closest to Ayala Center among the 3. Nevertheless, this is going to be one hell of a development. :)

Here's another view of the 3 towers. Tower 1 in the middle, Tower 2 on the right, and Tower 3 on the left.

Here, you can see Tower 3's distinction among the three with its unique architectural design.

http://pic60.picturetrail.com/VOL1677/12566065/22794101/379403088.jpg

thank you guys for the update.....

Just a quick update guys...

Priority selling for Tower 3 will be end of September.

Submission of Letter sof Intent (which is 1st come 1st serve) will start most probably 1st week or 2nd week of September.

I will be attending a briefing on this on 1st September.

For those wanting to get more information right off the shelves, please contact me.

I'm wondering how the final design of Tower 3 will be...will it be plain and simple, or will it be something out of the ordinary? hmmm...

^^ lets post it agad @thestig.. see you there..

this place is looking classier as it gets redeveloped. took photos of the redevelopment from ascott. will post it here.

@leechtat

hey JP! yeah see you there! post your pics of ayala center redevelopment! i'm sure evryone will appreciate this...i'm also looking forward to your shots...hehe

I heard from the architects of the development that Tower 3 will be the tallest among the 3 towers and could be around 230-240 meters high that might include a spire.

goodluck on your sales guys! I think youre both on a roll in selling units here

Point Tower (Tower 3) at Park Terraces premiere Makati address akin to One Roxas Triangle. We are now collating Email Letters of Intent from Local and Overseas Buyers.

Unit Types are the following:

1bedrooms at 65-84sqm.
2bedrooms at 118-144sqm.
3bedrooms at 182-188sqm.
Penthouse units at 288-508sqm.

Price point starts at 10+M with VAT and parking for 1bedrooms.

Turnover date begins 3rd Q 2016.

Public Priority selling starts October 23rd to 24th of 2010.

http://a.imageshack.us/img265/4110/pointtowersparkterraces.jpg

More details PM me.

^^ Unit types are zoned. Lowest floors all have 1-bedrooms, mid-floors are 2-bedrooms, higher floors are for the 3-Bedrooms and topmost floors are Penthouse units.

You beat me to pposting it here JP! hehe...anyway, yeah, this looks promising, and I really do hope it exceeds expectations!

For everyone else, our Letters of Intent are based on a 1st come 1st serve basis. Submission of Letters of Intent starts on September 20+. The order of buyers' slot in the Priority Selling will be based on the following:

1. Quantity of units purchased
2. Date of Letter of Intent submission
3. Time of Letter of Intent submission

Basically, it just means that the earlier you approach us for assistance, the earlier we can submit your LOI and the better chances you have at getting an earlier slot at the Priority Selling. The earlier your slot is, the more choices you have in availaibility of units.

PM's are most welcome for inquiries.

Ciao! :)

by the way, parking slots are appuretenant to the units already. So all units will have designated parking slots, similar to the set-up of One Serendra. If this is the case, there won't be a separate title for the parking slots (I think). I think this is a better arrangement because in Park Terraces Tower 1, parking slots were totally separate from the unit. So there'll be two titles for the buyer. But if it's appuretenant, I think it's already consolidated to the unit title.

With Park Terraces Tower 1, there were some issues with the parking slots, but now that it's appuretenant with Tower 3, there's no hassle and dispute over getting a parking slot, etc.

:)

Hmmm tower 3 is not an all 3bedroom condo after all. :)

Point Tower (Tower 3) at Park Terraces premiere Makati address akin to One Roxas Triangle.

Hi leechtat! When you say "akin to ORT" does this mean it will be on the glassy side? I'm excited with the render!

From the render it does not look it will be very glassy i.e. St. Francis Shangri-La. It will more or less be like TRAG yet it has circular floor plan so it will appear sleeker though. I failed to snap a photo of the the render maybe @justin can post it here...

Notice they have employed a G&W like design, where units will have corner views because of the cuts.

You can imagine via the floor plans below:

(pardon my spiel.. I copy pasted it from my blog :cheers:)

This is the floor plan for the 28th to the 29th floor, which houses the 1-Bedroom Deluxe ~ fit for the young urban achiever. The 1-bedroom Deluxe features a Flex Room which can be converted into a home/office, library, game room, AV Room or even another bedroom. It will have Penthouse finishes and are only limited to 16 units. Suitable for the successful urban professional.

http://a.imageshack.us/img831/4110/pointtowersparkterraces.jpg

Below is the floor plan for the 2-Bedroom Floor 34th to 40th, notice the efficiency of the cuts and how it is only 6 units per floor - all units being 2-bedrooms. The units all have a foyer, which ushers in a sense of arrival as the spacious Living and Dining Area welcomes you with natural lighting coming in the room at daylight. The kitchen is also inviting as the counter can be converted into a bar or buffet affairs for parties with friends and family. The Master's Bedroom is large with spectacular city views and it is generously spaced with a walk-in closet for the lady of the house. It continues to a couple's sink which provides essential privacy. The other bedroom enjoys a spacious affair adjacent to the common Toilet and Bath. These 2-bedroom units also have maid's rooms with a separate Toilet and bath which also houses the laundry area.

http://a.imageshack.us/img205/4110/pointtowersparkterraces.jpg

Hmmm tower 3 is not an all 3bedroom condo after all. :)

Hi leechtat! When you say "akin to ORT" does this mean it will be on the glassy side? I'm excited with the render!

Its akin to ORT since its high-time again that they can offer units as large as 500sqm. Last time it was offered was ORT days. Akin in a sense that its also the new premiere address along with TRAG.

@leechtat & Miggy Boy

i have a copy of the render with me...will be posting it here tomorrow...

Watch out for more updates guys...superb location, really!

post deleted...double post. sorry mods!

This is a nice project but its not in the same league as ORT. All units in ORT are 300 sqm+ with only 4 per floor, the only units in this place that size are the penthouses.

Agreed. But location-wise, I think this development is better. I think TRAG is a better comparison. But I am not sure if the units will appreciate as much as TRAG did. With that said, I would love to buy a unit here. My only problem is where to get that extra 10M =)

This is a nice project but its not in the same league as ORT. All units in ORT are 300 sqm+ with only 4 per floor, the only units in this place that size are the penthouses.

ORT will always be at its own pedestal. Back then, having such a development was feasible, but nowadays I think Ayala Land Premier is just going with where the market is going. Monetary value today is not the same as before. IMHO, Park Terraces is just right for the market and with an unbeatable location. Plus, the structural design is superb! The units in Park Terraces have more ceiling height because the engineers of this development used a beamless design, which eliminatess beams on the unit ceilings that reduce the height. If I'm not mistaken TRAG still uses beams in its design. I have a photo which differentiates beamless to the beamed design...will post it here later.

Park Terraces' price and location (right beside Fairmont Hotel) are a huge plus, considering that no other development can mimic this.

can someone send me the price list and floor plans for the cuts in point tower please.
think i will be looking at a 2 bed possibly a 3.

thansk in advance

^^ PM sent

Some excerpt. before i delete this, hope you guys can see it.

http://sphotos.ak.fbcdn.net/hphotos-ak-snc4/hs317.snc4/41175_436409838585_624443585_4961029_4909832_n.jpg

http://sphotos.ak.fbcdn.net/hphotos-ak-snc4/hs297.snc4/41175_436409843585_624443585_4961030_3386479_n.jpg

http://sphotos.ak.fbcdn.net/hphotos-ak-snc4/hs317.snc4/41175_436409783585_624443585_4961018_7776679_n.jpg

http://sphotos.ak.fbcdn.net/hphotos-ak-snc4/hs317.snc4/41175_436409788585_624443585_4961019_2047841_n.jpg

http://sphotos.ak.fbcdn.net/hphotos-ak-snc4/hs297.snc4/41175_436409793585_624443585_4961020_342573_n.jpg

http://sphotos.ak.fbcdn.net/hphotos-ak-snc4/hs297.snc4/41175_436409798585_624443585_4961021_5065684_n.jpg

http://sphotos.ak.fbcdn.net/hphotos-ak-snc4/hs297.snc4/41175_436409803585_624443585_4961022_4353736_n.jpg

http://sphotos.ak.fbcdn.net/hphotos-ak-ash2/hs157.ash2/41175_436409818585_624443585_4961025_6607115_n.jpg

updates to be posted soon...

Please feel free to contact me for queries or assistance.

Ciao mates! :)

wow, 60 storeys yung Point tower? :eek2: sana maconfirm yung height nito like their TRAG project.

http://pic100.picturetrail.com/VOL1161/13190765/23469980/391520449.jpg

for everyone's convenience, here's a clearer render of the Point Tower.

@anakngpasig

yes, it is 60 storeys. and what's nice about it is that it has Club Rooms and a Skydeck on the 60th floor with views of Makati Skyline and Manila Bay! What a beauty!

ALL 1BR units will be designated from the 5th floor to the 33rd floor (ten 1BR units per floor)

ALL 2BR units will be designated from the 34th floor to the 47th floor (six 2BR units per floor)

ALL 3BR units willl be designated from the 48th floor to the 53rd floor (four 3BR units per floor)

ALL Penthouse units will be dsignated from the 54th floor to the 59th floor

http://pic100.picturetrail.com/VOL1161/13190765/23469980/391522516.jpg

http://pic100.picturetrail.com/VOL1161/13190765/23469980/391522512.jpg

http://pic100.picturetrail.com/VOL1161/13190765/23469980/391522510.jpg

selling already?

@1dreamchaser

We are not yet selling the Point Tower.

Pre-selling activities scheduled for October 23 & 24. However, submission of Letters of Intent start on Monday (Sept 20) at 8Am on a first come first serve basis. :)

^^ yes @justin.. kaya walang tulugan.. sabay-sabay pa open house.. hehe..

Its akin to ORT since its high-time again that they can offer units as large as 500sqm. Last time it was offered was ORT days. Akin in a sense that its also the new premiere address along with TRAG.

Thanks leechtat for clarifying that, and thestig.bisdak for the render.

This ALI project looks promising. Great location and a nice view of the Makati skyline. :)

@JP

exactly! sabay sabay lahat hahaha...

quick update:

As of Sept 21 (DAY 2 of LOI submission), we have received 270 Letters of Intent, which comprises 59% of the Point Tower's total occupancy.

A second wave of a large volume of LOIs is expected towards the weekend as we release the official pricelist and payment terms. Will update everyone. Cheers!

Hi guys!

Official pricelist and payment terms have just been released last night, Sept 24, 2010.

Contact me for further details.

:)

http://img155.imageshack.us/img155/7840/renderpt3.jpg

Tower 1

UPDATE:

Official pricelist and payment terms already released. Contact me for further details.

All units come with parking slots (appuretenant). Payment terms include 8% discount for cash payments and 0% interest payment schemes until July 2016 (that's 72 months!).

Great deal, I must say!

http://img155.imageshack.us/img155/7840/renderpt3.jpg

Tower 1

WTF

pls email me detail
price, size, finish, completion, parking
thanks
byondlife@yahoo.com

AYALA LAND INC. is well known for finishing their buildings as true to the rendering...or as close to the way it looks....as possible.

PARK TERRACES....like THE RESIDENCES AT GREENBELT....will simply be another one of the best.......

as a skyscraper enthusiast, i'm more interested with the 60-floor point tower but tower 1 looks elegant, simple, yet elegant.

E-LOIs and appointments generated in just 2 weeks for Park Terraces Tower 3. Here are some updates:

1. We already have a total of 252 LOIs representing a total of 65% of total inventory.
2. We already have 15 scheduled appointments for our P3 clients.
3. Combined this composes 70% of total inventory that will be available in the entire tower!

Good News!

After the record-breaking success of PARK TERRACES Tower 1, We are pleased to announce the launching of the much-awaited 2nd TOWER this October!

For more details, visit www.ayalalandphilippines.com

Reminders everyone!

The deadline for the submission of the Letters of Intent for POINT TOWER will be on OCT 15, this Friday.

For those who still want to take advantage of reserving units during the Priority Selling BEFORE THE PUBLIC LAUNCH, you may still coordinate with me in getting a slot int he Priority Selling. As long as you submit your LOI BEFORE 3PM on OCT 15, you're on your way to getting your slot in the Priority queue.

Thanks guys!

http://www.ayalalandrealestate.com/wp-content/uploads/2010/10/2010-Park-Terraces-Priority-Selling-Event-October-24-2010-643x1024.jpg

^^wow, that looks really tall! is it gonna be taller than St. Francis Shangri-la Place?

this is looking like a tired design from ayala premiere. i do like the placement of the towers with respect to each other. it will make it seem like they are 3 distinct designs and should give the makati skyline some added design variety and less of that uniform/cookie cutter/boring look - like what is starting to develop in ortigas centre.

Availability as of Oct 19th, days before priority selling on the 24th.

http://img35.imageshack.us/img35/4892/2010parkterracesphase2a.jpg

Hi everyone!

Today is the schedule of the Priority Selling of Point Tower.

We are accommodating those who haven't submitted Letters of Intent to make reservations sometime around 4PM today as soon as all those who submitted LOIs are served.

Please contact me for assistance in the reservation.

Ciao!

As of today, OCT 24, Point Tower has sold approximately 27% of the building's total capacity.

For more inquiries, please feel free to contact me anytime.

Thank you.

NOTE:

The 20% downpayment with 80% balance payable in 6 years at 0% interest is still in effect for ALL units.

Thank you

Another take on the same article..

Ayala Land to invest P20B in Makati CBD redevelopment
By Doris Dumlao
Philippine Daily Inquirer
First Posted 22:46:00 11/05/2010

MANILA, Philippines—Ayala Land Inc. is spearheading a multibillion-peso redevelopment of the Makati central business district that will double its presence in retail, residential, hotel and office property segments in the country’s premier financial center.

The first Bus Rapid Transit (BRT) system in the country, which will combine the speed and efficiency of a railway transit with the cost efficiency of buses, is also envisioned along Ayala Avenue connecting the Metro Railway Transit systems on EDSA and Gil Puyat Avenue. This is intended to be a build-operate-transfer project initiative of the Makati Commercial Estate Association (Macea), the umbrella organization of Makati building owners, of which ALI is a member, and is estimated to cost about $10 million.

At the core of the redevelopment is Ayala Center, where ALI will invest P20 billion that, in turn, will create recurring earnings from 54,000 square meters of additional retail space, 655 new hotel rooms and 13 new floors of business process outsourcing space. Also to be built are new upscale residential towers, including Park Terraces.

ALI president Antonino Aquino announced during the grand launch of the redevelopment master plan on Friday that the undertaking would include the simultaneous construction of six new major towers within the Ayala Center. “This is going to be one of the most significant developments in the history of Ayala,” he said, noting this would maintain Makati’s status as the country’s premier CBD.

The P20-billion investment in Ayala Center excludes those to be spent for the construction of the Raffles Hotel and Residences and Fairmont Hotel, which are being developed as joint ventures between ALI and separate entities. Half of the investment commitment would go to the residential segment and half to the leasing segment, Aquino said.

Aquino said the six new buildings would include a Holiday Inn Hotel, two BPO buildings, two Park Terraces towers and the Raffles complex.

Meeann Dy, ALI vice president and strategic landbank management group head, added that plans were underway to make the Makati CBD more friendly to pedestrians. She disclosed that four hectares of garden and open space would be developed and new al fresco retail centers would be built along the Ayala Triangle Gardens.

“We’re throwing out the old notion of a CBD. It’s not a place you’ll hurry to leave at the end of the [working] day,” Dy said.

Makati has a daytime population of about 1.5 million, or thrice the number of its regular residents.

Alongside the building of the BRT along the main artery Ayala Avenue, Dy said sidewalks would be improved to provide a safe, clean and tree-lined streetscape.

At the northern part of Makati where residential complex The Columns is and where new residential development Lerato will rise, Dy said new hotel, retail and office centers would be developed, envisioning this area as the center of arts and culture. At the other end would rise a transit-oriented BPO complex, she added.

The streamlined transport system is also intended to ease traffic flow within the CBD, complemented by the opening up of more pedestrian pathways intended to encourage more people to walk than bring their cars.

http://business.inquirer.net/money/topstories/view/20101105-301664/Ayala-Land-to-invest-P20B-in-Makati-CBD-redevelopment

^^ :cheers:

Availability as of Oct 19th, days before priority selling on the 24th.

http://img35.imageshack.us/img35/4892/2010parkterracesphase2a.jpg 58 Floors?

http://www.ayalalandrealestate.com/wp-content/uploads/2010/11/finer-park-terraces.jpg

Believe it or not, entrepreneurs contribute significant sales to the high-end division of property developer Ayala Land Inc.

At the launching of the second tower, the Point Tower, for its Park Terraces , Bobby Dy, head of Ayala Land Premier, said the project is designed to cater to “top corporate employees and entrepreneurs.” Park Terraces will be located at the Ayala Center.

“Suffice it to say that business owners are a significant contributor to our business, “ Dy added.

Asked why entrepreneurs would want to choose Park Terraces as their home, Dy noted that business owners prefer to be in Makati, deemed the financial district of the Philippines.

Word of caution for entrepreneurs though: A unit is not cheap. Price ranges between P10 million and P90 million.

The point tower boasts of “generously-sized units, energy-efficient features, refined finished, and select but special amenities.”

ALI officials said the company is spending P4 billion for the construction of the tower, which will begin in the first quarter of the year and will be completed in 2016. The tower will have 388 units.

Another point of interest for entrepreneurs is the retail area on the ground floor, which has provisions for restaurants, hair salons, and boutiques.

www.ayalalandpremierhomes.com

Making residents live responsibly in the lap of luxury
November 12, 2010 23:06:00 Tessa Salazar Philippine Daily Inquirer MANILA, Philippines—

Once, they were inseparable— being wasteful and living in luxury. To be on top of the economic food chain often meant the wanton disregard of the planet’s limited resources. You want to be conscientious of your environment? Live in a hut in the jungle, and hug a tree when the big bad wolves disguised as land developers intrude. jungle, and hug a tree when the big bad wolves disguised as land developers intrude. But now, Ayala Land has come upon a compromise that it claims would address both a green conscience and the uxurious way of life. Ayala Land explained further that the fact that it was ncreasing its residential development in the Makat Central Business District already meant the residents’ reduced dependence on cars—right then and there reducing their carbon footprint. The buildings themselves would be designed to save energy. Ayala Land Premier, the crème de la crème company of Ayala Land’s high-end property development division, is building its Park Terraces 2 with the following nnovative highlights

1.) The use of master switch key cards to lessen electric bills. With the master switch key card (most luxury hotels are using this in all their rooms), there would be no need to manually unplug all electrical appliances from the socket. The master switch key card will allow unit owners to minimize electric consumption once they leave the units for the day, as only the refrigerator will not be turned off with the removal of the master switch key card from its slot. The projected cost savings from this has been estimated at 30 percent compared with conventiona residential buildings.

2.) Motion sensors installed at the corridors. Lights automatically turn on only when the sensors’ computers detect a person.

3.) Passive cooling ventilation on the tower. Conventiona residential towers are designed with limited window openings, Park Terraces 2’s beams won’t get in the way of the building’s window balconies and sliding doors. Opening up the units from the 20th to the 25th floor reduces the need for owners to turn on the air conditioning. Furthermore, hallways have been designed for optimum airflow at both ends. conditioning. Furthermore, hallways have been designed for optimum airflow at both ends.

4.) The water closets use the dual flush technology Owners can use the low-water flow flush whenever appropriate.

5.) With the building’s large windows, natural light is maximized at every unit.

6.) Park Terraces 2 will be integrated into the planned 10- year, P20-billion makeover of the Ayala Center envisioned to become a pedestrian-friendly center for commerce and iving. The planned additional walkways, interconnected underground parking, four hectares of parks and green spaces (such as the one-hectare landscaped Palm Promenade right beside Park Terraces towers) and additional retail areas are expected to motivate occupants to go out more and exercise, meditate and commune with others—altogether reducing the “sick building syndrome” and minimizing hospitalization costs among unit dwellers and owners.

Park Terraces 2, scheduled for turnover in 2016, will bring owners ever closer to a lifestyle that’s healthier for both humans and the planet, according to Bobby Dy, Ayala Land senior vice president and head of the residential business group, and Leya Moya, project development manager for ALP residential buildings. Thus far, Park Terraces 2 has consistently lured in the Triple A residential market, according to Moya. Initially selling at an average rate of P153,000 per square meter for the first of its planned three-tower project, Park Terraces 2 now fetches an average P163,000 per sqm. The first tower is already 93 percent sold. The Point Tower, the second development within Park Terraces, highlights the exclusivity of each unit—units are zoned according to size, so that all one-bedroom units, from the 5th to the 33rd floor, number 10 per floor; two- bedroom units, from the 34th to the 47th floor, will number six per floor. There will be four three-bed

Park Terraces Phase2/Point Tower/Tower3 Availability

http://img51.imageshack.us/img51/4892/2010parkterracesphase2a.jpg

http://www.ayalalandpremierhomes.com/parkterraces17.jpg

THE HIGH-END residential unit of property giant Ayala Land, Inc. has launched the second tower of its Park Terraces project in Makati.

"Following the success of its first tower, Ayala Land takes its expertise, once more, with the promise of bespoke living with Park Terraces 2," Ayala Land Premier said in a statement on Tuesday.

Units in Park Terraces 2 will be zoned for the convenience of buyers. All one-bedroom units will be at the fifth to 33rd floor, two-bedroom units at the 34th to 47th floor, and three-bedroom and penthouse units at the 48th to 59th floor.

The three-tower Park Terraces is part of the P20-billion Ayala Center redevelopment, which includes 54,000 square meters of new retail space, 655 news hotel rooms, 13 storeys of new office space, a four-hectare garden.

Ayala Land operates under four major brands -- Ayala Land Premier for the high-end segment, Alveo Land for the middle-income segment, Avida for the “affordable” market, and Amaia for economic housing.

The property unit of the Ayala group earned P1.32 billion in the second quarter, up by 10% on the back of across-the-board growth in its businesses. This brought net income to P2.51 billion in the first half, up by a third.

Shares in Ayala Land fell by 0.92% or 16 centavos to P17.18 each on Tuesday.

http://www.ayalalandpremierhomes.com/park-terraces.html

^^so 59 floors na pala sya

Park Terraces AVP

N4PK9w81i-k

3cW3rFrTdTg

http://www.ayalalandrealestate.com/ayala-park-terraces/

^^ Awesome.

Nice video presentation! :)

Centuries ago, the business district of the Philippines was once an empty field used for aviation courses. Now, no city in the Philippines can match the flair and pizzazz of the city of Makati. Not bad for what the Spanish colonizers once described as a swampy barren land.

Often described as the commercial capital of the Philippines, Makati is fast-phased city filled with exciting opportunities, blue chip executives, and the working class. Aside from being known as a commercial giant in the business scene, the city also ranks as a top destination for recreational activities.

The plethora of choices for leisure, culture, recreation, dining, and of course the commercial qualities, are the main reasons why Makati is one of the most popular districts in the Philippines. Now, the charming city leaps into the future again with Ayala’s Park Terraces.

The recent addition to Makati’s fine skyline, Park Terraces, is the three-tower enclave, a vertical community which offers urban dwellers a premier living space at the heart of the city. The latest offering from Ayala Land Premier will change the face of the business district as Park Terraces will serve as a catalyst structure for Ayala Center’s new look.

Ayala Land will be investing R20 Billion to pave the way for a wider pedestrian access, more green, spaces, new offices and hotels over the next ten years -all of which are anchored on Park Terraces.

“Ayala Land prides itself on how it understands the needs of our market. We take into full consideration how people will live, work and how we can make things better. Ayala Center is one of the company’s greatest successes which evolved from a marsh land into a premier loft and a central business district,” said Bobby Dy, Senior Vice President and Head of Ayala Land Premier.

The new look of the city includes a more environment friendly community where everything is accessible to future residents of the tower. The innovative change and the bright vision of Ayala Land is a welcome development for the unit buyers of the first tower which sold 4.3 B in a single weekend.

“Not too many people know this but the first condominium apartment in Makati was developed by Ayala. Our company thrives and pride itself on this heritage in knowing the needs of the community in developing a desired address as well as a desired destination,” added Dy.

Units inside the tower are designed to suit varying lifestyles and can cater to varied needs of the unit buyers. But a common feature that each unit shares are optimized light and natural ventilation through sliding doors. The structural design of Park Terraces removes perimeter beams and allows natural lighting to flow into each unit.

“We understand the individuality of each unit owner and we try to incorporate this in Park Terraces. The units inside the towers can be tailor made for the various needs of each owner where they can modify the units to their unique personalities,” shared Melissa Gil, SVP and head of Ayala Land Premiere’s residential buildings.

As part of the company’s commitment to preserving the environment, the units also have energy-efficient features like master key cards which allow owners to minimize energy consumption and maximize greener practices. Aside from the impressive amenities and features of the new tower in Makati, units are selling like pancakes. It will soon become the window and gates of the city.

The soon to be re-developed Ayala Center will provide unit owners of Park Terraces to have easy access to various business center as well as some of the country’s top schools, hospitals, and companies. This setting will make the unit buyer feel at home and relaxed as it would be walking distance from commercial centers as well as other prominent buildings within the city. The said tower initiates the new blueprint for the city of Makati, where everything is connected, accessible and convenient for residents in Makati as well as the thousands of guests who visit the city.


Source: Manila Bulletin

http://www.ayalalandpremierhomes.com/park-terraces.html

Park Terraces AVP = WOW!

Everyone knows Makati to be a bastion of business and commerce, but the rise of Ayala Land Premier’s newest residential enclave defines a new living space within the heart of the redeveloped Ayala Center.

http://www.ayalalandpremierhomes.com/parkterrace.jpg

“It is the single biggest investment in one location that Ayala Land is making. In a nutshell, we are trying to create a place where people can live, work, and fulfill their dreams. Upon completion, we will open 54 thousand new retail spaces, 655 new hotel rooms, 13 storeys of office space, four hectares of parks and open space, and of course, at the heart of it all, the peak residential development of Park Terraces,” shared Bobby Dy, Ayala Land Head for Residential Business Group during its recent launch.

Anchored on thoughtful master planning, deliberate interior space planning, and sustainable design, Park Terraces stands as proof of the demand that exists for premier residential options within Ayala Center.

The Pointe Tower is the second development within Park Terraces, hot on the heels of its wildly successful first tower that launched early this year. It follows the same design philosophy: generously-sized units, energy-efficient features, refined finishes, and select but special amenities. At the point tower, however, units are zoned so that all one-bedroom units rise from the 5th floor to the 33rd floor, all two-bedroom units from the 34th to the 47th floors, and all 3 bedroom units and penthouse units are at the 48th-59th floors.

However, the appeal of Pointe Tower goes beyond the attention developers have put into its amenities, facilities, and services. Its location lends itself to a lifestyle with unparalleled access to the new Ayala Center’s entertainment, retail, leisure, and business options. And because Park Terraces is located right at the heart of Ayala Center, future residents are given easy access to various business centers as well as some of the country’s top schools, hospitals, and companies. “Makati has been, and will always be, one of the country’s most premier cities. With Ayala Land Premier’ s Park Terraces, future residents can build their lifestyles around everything this city has to offer,” ends Dy.

For inquiries on Park Terraces, call 215-7131, email lim.alicia@ayalalandinc.com or visit www.ayalalandpremierhomes.com

http://www.ayalalandpremierhomes.com/park-terraces.html

Good day guys!
I Roy from cebu! Puwide rin ba ma e-mail nyo sa akin ang pricelist ng Park Terraces Makati? Slamat ha ! paki send land sa roy.cebu@gmail.com

Roy

Good day guys!
I Roy from cebu! Puwide rin ba ma e-mail nyo sa akin ang pricelist ng Park Terraces Makati? Slamat ha ! paki send land sa roy.cebu@gmail.com

Roy

Bai! Sent you an email already. Ayaw ug ka-ikug ug contact sa ako anytime. Tawagi na lang ko sa akong mobile # miske unsang oras. Salamat Bai.

PROMO for PARK TERRACES:

Split DP Scheme - with low downpayment!
10% 1st downpayment
10% 2nd downpayment
80% monthly amortization spread up to 1 month before unit turnover
*1st monthly amortization paid together with 2nd DP
0% INTEREST!!!

Bullet Payment Scheme - with low monthly amortization!
15% downpayment
40% monthly amortization spread up to 6 months before unit turnover
45% annual bullet payments
0% INTEREST!!!

Promo is valid only for reservations made until JANUARY 31, 2011

Please contact JUSTIN GO at 0915.1127166 for assistance.

Thanks!

WOW!!! another Mega project at MAKATI CENTRAL BUSINESS DISTRICT

http://a4.sphotos.ak.fbcdn.net/hphotos-ak-ash1/180714_10150103362623586_624443585_6249323_8264210_n.jpg

Park Terraces Open House, February 20th, 2011. Greenbelt 5. 11am onwards. http://www.ayalalandrealestate.com/ayala-park-terraces/

hi, can someone PM me a price list for 1 and 2 bedroom units as well as availability?

thanks!

Stunning and very sleek.

hi, can someone PM me a price list for 1 and 2 bedroom units as well as availability?

thanks!

PM sent!

PROMO for reservations made on FEB 20, 2011


Split DP Scheme - with low downpayment!
10% 1st downpayment
10% 2nd downpayment
80% monthly amortization spread up to 1 month before unit turnover
*1st monthly amortization paid together with 2nd DP
0% INTEREST!!!


Bullet Payment Scheme - with low monthly amortization!
15% downpayment
40% monthly amortization spread up to 6 months before unit turnover
45% annual bullet payments
0% INTEREST!!!



Please contact JUSTIN GO at 0915.1127166 for assistance or to have your name included in the guest list.

Thanks!

Ayala Land plans to develop bus rapid system along Ayala Avenue
Business Mirror
http://www.businessmirror.com.ph/home/properties/4511-ayala-land-plans-to-develop-bus-rapid-system-along-ayala-avenue

RATIONALIZING vehicular traffic along the Ayala business district is a top agenda of property heavyweight Ayala Land Inc. (ALI) and in a recent briefing with the media, ALI vice president for strategic landbank management group Anna Bautista-Dy said the firm will develop a bus rapid transit (BRT) system starting this year as part of enhancing the mobility of people going into the country’s premier business district. It is expected to be finished in 2012.

She said ALI chose the BRT system over other systems because it provides the lowest cost of operations. “Based on international standards, it will cost $2.5 million per kilometer to build a BRT system,” she said.

For their BRT project, ALI will build the system from the intersection of Ayala Avenue and Epifanio del los Santos Avenue up to Ayala Avenue-Gil Puyat Avenue totaling 4 kilometers.

It has the least cost of the transport system if compared to a rail-based system which is 10 times higher, according to Bautista-Dy.

The BRT system of Curitiba, Brazil is regarded as one of the most successful models in the world. According to www.urbanhabitat.org, “the buses run frequently—some as often as every 90 seconds—and reliably, and the stations are convenient, well-designed, comfortable and attractive.”

The web site added the BRT system in Curitiba “has one of the most heavily used, yet low-cost, transit systems in the world.” It has been described as a system with a lot of the features of a subway system. The difference is that the BRT is above ground.

Bautista-Dy said ALI is also upgrading its traffic system to make pedestrians more comfortable in walking around the area by introducing a newer system where people can operate them. Traffic sensors are synchronized and in certain areas, people can push the traffic buttons, she said.

“What we’re trying to do in the Ayala Center is to connect the people through a special eye for the pedestrians to ensure that if you live there it’s actually easy to move around,” she said.

ALI, along with the Makati Commercial Estate Association (Macea), will invest $8 million to $10 million for the new system which is believed to have the speed and efficiency of a railway system with a minimal cost for operation

“We always view them [Makati CBD and Bonifacio Global City] to be complementary with each other,” said ALI president Antonino Aquino in a briefing.

“As a consequence, we expect to grow together significantly to become an overall business capital of the country,” he added.

The development of the BRT is part of the P20-billion redevelopment plan set to be completed in 2012. Later, the BRT system is envisioned to connect the Makati central business district (CBD) and the Bonifacio Global City, according to Aquino.

He said ALI will also expand pedestrian areas in the Makati CBD to encourage residents and visitors to explore the areas, thus decreasing traffic congestion.

According Aquino, ALI will allocate the P20-billion investment on an equal footing for the residential and leasing component based from Ayala Center’s redevelopment.

Park Terraces, a high-end residential project of Ayala Land Premier, will have a prominent role in the redevelopment with the construction of its second tower.

“Park Terraces represents ALI and that will really be considered as the largest element of residential high-risers in the Ayala area,” Aquino said.

Moreover, the ongoing redevelopment will include the Palm Promenade, which will have outdoor cafes and walkways linking Glorietta complex to Pasay Road, and Terraces Square, which will be situated between Park Terraces and Park Square.

The opening of Holiday Inn and Raffles Hotel, which will rise at the top of Glorietta 1 and 2, will add 700 new hotel rooms, bringing the total number of hotel rooms in Makati to 3,000.

ALI recently reported buoyed bottomline reached P3.94 billion in the first 9 months of 2010, a 35-percent growth from the same period last year.

“It was another good quarter and we experienced strong growth across all our major business lines,” said Ayala Land senior vice president and chief finance officer Jaime E. Ysmael in a media statement.

Splendid news from ALI! Ayala Center is geared towards being the ultimate capital of Makati, if there is such a thing!

Buy Ayala Land Premiere and Travel to El Nido, Palawan

http://www.ayalalandrealestate.com/wp-content/uploads/2011/03/Buyers-Incentive-copy-768x1024.jpg

http://www.ayalalandrealestate.com/ayala-land-premiere-buyers-incentive-el-nido-getaway/

Nice buyer's incentive. Spoiling investors wow. Hehe

Visited the showroom today...........wow great units but at nearly 160k per sq meter this is a high end offering

mura lang yan kung gusto mg pinas maging internationally competitive, pero kung hindi subrang mahal yan, sa samar 10 pesos per square meter ang lote sa niyogan, mahal na yun dun kayat di kami umaasenso despite the 3rd biggest island next to luzon and mindanao

Unfortunately my brother bought 2 units here...okay lang naman since well known ang Ayala Premier mag appreciate agad..those in good locations..not the ones near a cemetery

mura lang yan kung gusto mg pinas maging internationally competitive, pero kung hindi subrang mahal yan, sa samar 10 pesos per square meter ang lote sa niyogan, mahal na yun dun kayat di kami umaasenso despite the 3rd biggest island next to luzon and mindanao

Oh wow 10 pesos per square meter. Ngayon ko lang nalaman na may ganun pa pala

Grabe construction nito..in full swing..parang 4 na building ginagawa dun sa site nila

Oh wow 10 pesos per square meter. Ngayon ko lang nalaman na may ganun pa pala

oo,mahal na ngayon, p10 per square ay p100,000 yun per hectare, sa probinsya ang bentahan dun 50,000 to 80,000 per hectare ang niyogan, 1 square meter sa rockwell katumbas ng 1 hectare sa samar o sa central luzon

Talaga? Parang ang sarap mag retire sa Samar ah, dito sa Manila, pahirapan ang lote, ang mahal

Unfortunately my brother bought 2 units here...okay lang naman since well known ang Ayala Premier mag appreciate agad..those in good locations..not the ones near a cemetery

May I ask why you feel "unfortunate" that your brother bought 2 units in Park Terraces? :)

http://img820.imageshack.us/img820/518/fixedinterestweblast.jpg

^^ ALI-BPI Promo. interest rates valid for ALVEO and Ayala Land Premiere only. For Payment Option 20/80 ~ 20% Downpayment then 80% Bank Proceeds from BPI. 5 Days Approval.

May I ask why you feel "unfortunate" that your brother bought 2 units in Park Terraces? :)

He's an agent to another developer, that's why he feels "unfortunate".:ohno:

ah...lol! :p

May I ask why you feel "unfortunate" that your brother bought 2 units in Park Terraces? :)

kasi hindi napunta sakin commission:lol:

I'm wondering what high floor 2-br units are available...

@Parapara

PM sent!

VALID FOR RESERVATIONS MADE BETWEEN APRIL 1, 2011 & JUNE 30, 2011

http://i606.photobucket.com/albums/tt146/justingo/PictureDeviceIndependentBitmap1.jpg

Thanks for the good and helpful info. Hard to decide between the new BFGC or the glamourous Makati.@Parapara

PM sent!

^^ You won't go wrong with Makati CBD or Fort Bonifacio. But if you're as risk averse as me, you might lean on Makati more. A good portion of Fort Boni has the west valley fault.

A very good project. The only setback is Ayala won't allow investors to run the apartments as service apartments.

Makati parin. Hehehe

I agree with everyone in saying that Makati is Makatim which is actually a cliche that never seems to prove itself wrong. By far, Makati and Ayala Center in tandem is the most valued piece of real estate in the country ever since! However, it shouldn't be overlooked that FBGC has been burgeoning ove the past decade or so, and is following Makati's trend. Soon enough, FBGC will be considered as Makati's extension.

Either choice is a wise one, but with Makati/Ayala Center in relation to real estate investment, it's a definite hit! Nothing else can go wrong...especially with Park Terrace's proximity to Fairmont Hotel & Raffles Residences...

I am not saying this out of bias...but if I were asked this question, Makati would always be on the top choice.

Just my two cents guys... :)

I agree with everyone in saying that Makati is Makatim which is actually a cliche that never seems to prove itself wrong. By far, Makati and Ayala Center in tandem is the most valued piece of real estate in the country ever since! However, it shouldn't be overlooked that FBGC has been burgeoning ove the past decade or so, and is following Makati's trend. Soon enough, FBGC will be considered as Makati's extension.

Either choice is a wise one, but with Makati/Ayala Center in relation to real estate investment, it's a definite hit! Nothing else can go wrong...especially with Park Terrace's proximity to Fairmont Hotel & Raffles Residences...

I am not saying this out of bias...but if I were asked this question, Makati would always be on the top choice.

Just my two cents guys... :)

No doubt that Ayala Center is one of if not the most prime residential area in the Philippines; but at more than 170k/ sq m, further rate of price and rental appreciation would be very modest. There are still considerable number of other high- end developments within a 1 km radius (walking distance of less than 10 min) from Ayala Center that's about 40% cheaper, perhaps in the 95k- 120k/sq m price range. Living in the heart of Ayala Center might not be that ideal after all with higher density, increased human traffic, noise pollution and less privacy. The current plot of land besides Park Terraces will further add to the density of the area when new residential buildings are erected there, a lot of potential sites or old buildings in the nearby Legaspi Village would also be re- developed and contribute to the supply of residential condominiums in the vicinity.

No doubt that Ayala Center is one of if not the most prime residential area in the Philippines; but at more than 170k/ sq m, further rate of price and rental appreciation would be moderated. There are still considerable number of other high- end developments within a 1 km radius (walking distance of less than 10 min) from Ayala Center that's about 40% cheaper, perhaps in the 95k- 120k/sq m price range. Living in the heart of Ayala Center might not be that ideal after all with higher density, increased human traffic, noise pollution and less privacy. The current plot of land besides Park Terraces will further add to the density of the area when new residential buildings are erected there, a lot of potential sites or old buildings in the nearby Legaspi Village would also be re- developed and contribute to the supply of residential condominiums in the vicinity.

Just wait a few years. You'll have your pick of a zillion resale units at a lower price than this. Supply and demand says so. This is a great looking project though.

Just wait a few years. You'll have your pick of a zillion resale units at a lower price than this. Supply and demand says so. This is a great looking project though.

i completely agree on this one... :)

Just wait a few years. You'll have your pick of a zillion resale units at a lower price than this. Supply and demand says so. This is a great looking project though.

Why would this be the case in Manila/Makati? This has not happened in Tokyo, Hong Kong, New York, London or even Mumbai?

There is a scarcity of land in all those cities you mentioned and they're all already developed. The US had an extreme drop in real estate values and may still drop in places like Las Vegas, Arizona and Florida. Even New York had a market correction though not as extreme. There is a massive glut of condos coming up in metro Manila. You won't see the correction happen for about five years but there will be about 100 towers coming up and the correction will surely happen. Developers like Ayala and Robinsons and SMDC are cashing in now while they can. They see a hot economy. As soon as you see a project get cancelled or scaled back or you see a lot of rush sales that is the first sign things are going south. Anyone who lives in the US or Canada knows what I mean. That being said if I get a good deal on a condo I'm buying. Lol.

It happened in cities like Dubai. The real estate market in Manila is predominantly fueled by OFWs. A lot of them assumed that their jobs would not be affected and commit themselves to loans. However, if the job markets in those countries ( especially middle- east and North America) take a hit, these people might face the difficulties of servicing their loans when their jobs prospects are diminished, not to mention the possibility of losing them. The Phil economy is quite unique and to a certain extent vulnerable; you don't see a substantial middle class to support long term real estate market growth because foreign investment is still in its infancy and unemployment rate is quite high. A lot of Filipinos are still living in poverty or close to poverty and a huge rich-poor divide.

And another big threat to the real estate market is the strong peso/weak USD. Weak euro too. It becomes less attractive to foreigners. Oh yeah earthquakes too are a big threat.

There is no doubt there will be earthquakes here. The only questions are: when they are going to happen and their severity. The safest place in Phil is probably Makati.

Totally. But it doesn't matter which part of metro Manila is hit hardest. People will stay away entirely. I don't think a lot of foreigners will differentiate between Marikina or Taguig or Makati. They don't care. Even if tourism and foreign investment (the two lifebloods of the country) drop 10% that's huge! It will drop more than that.

One good thing about these projects though is that it is really making the metro look nicer and more modern. If it weren't for the glut of condos coming on the market I'd invest in Park Terraces as my primary residence.

History has shown that investing in properties is the safest form of investment. Property prices do not fluctuate as much as stocks and shares. Prices may come off a little where there is a glut but it will only be temporary. Property price will head north. Construction costs will go up and the selling price of new projects will go up even if the demand is low. Consequently, the cost of acquiring a property will go up. Unlike stocks and shares you will get better returns in terms of rents and further you are in control of your investment. You can renovate and decorate and make your apartment stands out from the rest. The price in Park Terraces will not come off much even in a slow economy.

The ones that will rent here are going to be expatriates holding high-salaried jobs. Rental demand for high- end condos are not that great;first of all, there are not that many expatriates around, unlike nearby Singapore, HCMC or even Bangkok. Secondly, not many of them can afford or are willing to fork out that kind of rental. This will only worsen considering the glut of residential condos over the next few years. Rental vacancy rate is pretty high in the area, especially for older condos. Some owners just gave up after advertising their units after a long period or have to settle for much less than what they had asked for. If you purchased a unit from the secondary market, it's highly likely that you can get it at a discount from a distressed owner compared to the developer's price. Besides, if you are an investor from other parts of Asia or Australia, your investment would not have necessarily paid off since the peso has depreciated against those currencies. IMO, there is certainly potential here, but this potential may not necessarily be realized, perhaps not in my lifetime. Other emerging markets in Asia are also vying for foreign investments, and have so far proven more successful than Phil in attracting them. In HK or Singapore, supply of land is limited; here it's 'infinite'. Developers will aggressive market their newer and more attractive developments to absorb any rise in demand. As an individual investor, how far can you go?

I've heard stories about people getting great deals on rent. If you offer cash up front for a full year you can get 10-20% off in rent easily. Who would say no to that?

How does it work in the Philippines? Is there too much pride among developers to cancel/scale back a project and admit it's not feasible? A lot of investors would be out their deposits. No names but I can see a couple of developers here running into trouble. Not Ayala, they should be fine. One good thing for developers though is that labour is cheap!

I'm not saying this out of bias...

But as far as I can remember, at least for Ayala Land Premier, even if the economy experienced a slowdown, ALP properties (both condos and residential lots), have never gone South. I totally agree with huanggua that property prices will indeed head north. The Philippines, to be honest, has a distinct situation. When the prices of real estate started to go down in the US and Dubai, the property market here in the Philippines never ceased to flourish. Maybe there was a short period of time, for the high end market at least, that the market experienced some rattles, but the property values never went down. What happened was that the buyers stopped buying not because they did not have enough funds or they lost trust and confidence in the market, but because they had a 'wait and see' attitude towards it. Once the economy started to show some light, buyers started to spend again and the property market had its share of it. The buyers in the Philippines always had financial resources and access to their funds the whole time. They just did not want to spend it right away when the time was uncertain. Unlike the US where the economy was highly in debt, the Philippines had an opposite scenario. Buyers always had their money, they just did not want to spend it right away. And I believe this is the same thing happening right now. Prices of real estate in the Philippines won't head South, I think. A perfect example relevant to Park Terraces would be The Residences at Greenbelt. Back when it was launched around 2006-2007, 1BR units were around P7-million and 2BR units were around P13-million. In today's resale market, The Residences at Greenbelt 1BR units are priced around P11-million and 2BR units at around P19-million to P20-million. Rental prices never went down as well, and occupancy for rentals even increased! The same thing happened to One Roxas Triangle! I guess this will be the same trend that Park Terraces will tread. Once the units are turned over, the resale prices would be around 40% to 45% higher than what it is today. Definitely there would be some people who would blurt out their "I should have bought..." lines by then.

So would the prices go down eventually? I say nay...

Just my opinion...

^^ how about alveo's two serendra meranti at the Fort? Any thought about it?

^^ how about alveo's two serendra meranti at the Fort? Any thought about it?

It's funny, I've been seeing more and more rush sales on Two Serendra units popping up. Although a couple of these rush sales were bs. I was ready to jump on one as short term I thought it was easy money.

Remember there is still a 4th tower yet to be built beside Meranti. So there will be approx. 1,500 units added to Two Serendra in the next few years.

I'm not saying this out of bias...

But as far as I can remember, at least for Ayala Land Premier, even if the economy experienced a slowdown, ALP properties (both condos and residential lots), have never gone South. I totally agree with huanggua that property prices will indeed head north. The Philippines, to be honest, has a distinct situation. When the prices of real estate started to go down in the US and Dubai, the property market here in the Philippines never ceased to flourish. Maybe there was a short period of time, for the high end market at least, that the market experienced some rattles, but the property values never went down. What happened was that the buyers stopped buying not because they did not have enough funds or they lost trust and confidence in the market, but because they had a 'wait and see' attitude towards it. Once the economy started to show some light, buyers started to spend again and the property market had its share of it. The buyers in the Philippines always had financial resources and access to their funds the whole time. They just did not want to spend it right away when the time was uncertain. Unlike the US where the economy was highly in debt, the Philippines had an opposite scenario. Buyers always had their money, they just did not want to spend it right away. And I believe this is the same thing happening right now. Prices of real estate in the Philippines won't head South, I think. A perfect example relevant to Park Terraces would be The Residences at Greenbelt. Back when it was launched around 2006-2007, 1BR units were around P7-million and 2BR units were around P13-million. In today's resale market, The Residences at Greenbelt 1BR units are priced around P11-million and 2BR units at around P19-million to P20-million. Rental prices never went down as well, and occupancy for rentals even increased! The same thing happened to One Roxas Triangle! I guess this will be the same trend that Park Terraces will tread. Once the units are turned over, the resale prices would be around 40% to 45% higher than what it is today. Definitely there would be some people who would blurt out their "I should have bought..." lines by then.

So would the prices go down eventually? I say nay...

Just my opinion...

You make some good points, especially about how Filipinos don't carry much debt, and if Park Terraces was say 100K-120K/sqm I'd say no way will it go down. But you're insinuating this will pass 200K/sqm.

5 years according to this TRAG was 100K/sqm and is now around 150K/sqm. So Park Terraces will hit 240K/sqm in 5 years? People will actually pay 20M for an 80sqm unit?

Maybe they will. I could be totally way off on this.

I'm not saying this out of bias...

But as far as I can remember, at least for Ayala Land Premier, even if the economy experienced a slowdown, ALP properties (both condos and residential lots), have never gone South. I totally agree with huanggua that property prices will indeed head north. The Philippines, to be honest, has a distinct situation. When the prices of real estate started to go down in the US and Dubai, the property market here in the Philippines never ceased to flourish. Maybe there was a short period of time, for the high end market at least, that the market experienced some rattles, but the property values never went down. What happened was that the buyers stopped buying not because they did not have enough funds or they lost trust and confidence in the market, but because they had a 'wait and see' attitude towards it. Once the economy started to show some light, buyers started to spend again and the property market had its share of it. The buyers in the Philippines always had financial resources and access to their funds the whole time. They just did not want to spend it right away when the time was uncertain. Unlike the US where the economy was highly in debt, the Philippines had an opposite scenario. Buyers always had their money, they just did not want to spend it right away. And I believe this is the same thing happening right now. Prices of real estate in the Philippines won't head South, I think. A perfect example relevant to Park Terraces would be The Residences at Greenbelt. Back when it was launched around 2006-2007, 1BR units were around P7-million and 2BR units were around P13-million. In today's resale market, The Residences at Greenbelt 1BR units are priced around P11-million and 2BR units at around P19-million to P20-million. Rental prices never went down as well, and occupancy for rentals even increased! The same thing happened to One Roxas Triangle! I guess this will be the same trend that Park Terraces will tread. Once the units are turned over, the resale prices would be around 40% to 45% higher than what it is today. Definitely there would be some people who would blurt out their "I should have bought..." lines by then.

So would the prices go down eventually? I say nay...

Just my opinion...

You are right to some extent. Prices of real estate in most Asian markets don't go south. The reason is because developers are sensible enough to hold on to their land banks and launch new developments at a later date and to prevent engaging themselves in price wars, or they could maintain prices and throw in some freebies or offer better payment terms. Besides, the sale price is just an indicator. It takes much longer here to find a buyer. A lot of sellers had struggled, spent a lot of money advertising and waited a long period of time to find a buyer or simply gave up looking or sold their properties at a loss. Transaction costs are high. Moreover, if I were an investor, I have many choices; putting my money here might not (and possibly not) offer me the best return and security compared to other Asian cities against the backdrop of political, economical, social and geographical vulnerabilities and deficiencies. The Phil was the most advanced country in South East Asia in the 1950s. Where is it now? It has lagged behind most other major or even some non- major Asian countries in almost all aspects.

And another big threat to the real estate market is the strong peso/weak USD. Weak euro too. It becomes less attractive to foreigners. Oh yeah earthquakes too are a big threat.

hay...the peso might be strong visavis the US dollar but comparatively against other currencies...it is still weak. And I know the central bank will intervene once the peso is attack by speculators. Actually the peso is under valued...for me, the correct rate of the peso would be at 35 is to 1 US dollar.

Earthquakes? ano ginagawa ng insurance...and new and higher building can withstand stronger quakes compared to a bungalow house that was built 10 years or more ago.

You make some good points, especially about how Filipinos don't carry much debt, and if Park Terraces was say 100K-120K/sqm I'd say no way will it go down. But you're insinuating this will pass 200K/sqm.

5 years according to this TRAG was 100K/sqm and is now around 150K/sqm. So Park Terraces will hit 240K/sqm in 5 years? People will actually pay 20M for an 80sqm unit?

Maybe they will. I could be totally way off on this.

just based it on Essensa...how it appreciated within the years...Luxury condominiums don't deteriorate...it always appreciates.

hay...the peso might be strong visavis the US dollar but comparatively against other currencies...it is still weak. And I know the central bank will intervene once the peso is attack by speculators. Actually the peso is under valued...for me, the correct rate of the peso would be at 35 is to 1 US dollar.

Earthquakes? ano ginagawa ng insurance...and new and higher building can withstand stronger quakes compared to a bungalow house that was built 10 years or more ago.

Doesn't matter if a building can withstand an earthquake. It's going to scare away investors and tourists no matter what.

After what had happened to Japan I asked the question on the Acqua thread whether the price had dipped. The response was the price had gone up. It appears the danger of earthquakes did not deter people from buying. SM's Wind Residences is actually sitting right on the ridge of the volcano and yet people are snapping up the units. So what can we make of this? Stupidity?

Why would people say that? Prices have dropped in Tokyo. This article centers around the Tokyo Bay but it implies what is going on there.

http://www.bloomberg.com/news/2011-04-13/tokyo-bay-home-demand-to-sag-after-earthquake-turned-land-to-mud.html

After what had happened to Japan I asked the question on the Acqua thread whether the price had dipped. The response was the price had gone up. It appears the danger of earthquakes did not deter people from buying. SM's Wind Residences is actually sitting right on the ridge of the volcano and yet people are snapping up the units. So what can we make of this? Stupidity?

While a lot of people are snapping up those units, it does not imply it's the right thing to do. There are always irrational, undiscerning buyers out there who don't do their homework or are driven by greed. An earthquake can happen now or 50 years later. No one knows for sure. But the longer there is without earthquake being experienced in Manila, the closer we are to experiencing the 'Big One'. According to Seismologists, a magnitude of 7.2 quake would destroy 40% of all residential buildings in metro Manila. There are always risk- takers. If those people know a severe earthquake is going to happen next week, do you reckon they'll still snap up those units? It's like playing a game of Russian roulette.

The reason why condo living has been increasing in popularity is, simply put, supply and demand. The supply of land does not increase. As a matter of fact, it is common knowledge that in real estate, it is the land the appreciate and not the structure. The Philippines, unlike other countries, has not contolled population growth (thank you, catholic church!). And yet, we have one of the smallest piece of land on this earth. To accomodate all the Pinoys wanting to live the Filipino dream of owning a home, developers will naturally go vertical. This is the economical way to own a home nowadays. Yes, you may argue that owning a house in the province is much better than living in a vertical. But I will argue that owning a house in the province (far flung provinces like quezon, isabela and the like) is not sustainable especially if all the income prospects (jobs, businesses etc) are in the metro.

I do agree with you that at these price points, most condo units are over valued. Older condominium units are better investments than pre-selling units. Why? Because you can rent your unit now without the risk of the developer defaulting on their promise to build and the uncertainty of future rent prices. One way of looking at a property is to think of it as a stock. You look at the Price/Earnings Ratio (P/E Ratio). Where the Earnings is the potential annual rent you will be collecting should you rent your unit. If rent is decreasing in the area, you're definitely gonna see a hit in the price so that's not a good buy. With that said, I've never had problems renting my units in Makati. Location is still the key. That is why it is always "safe" to buy in the Makati CBD compared to other areas. You know that people will always rent in the Makati CBD kase that's where the jobs are. I also tend to stay away from luxury condos if I intend to rent them out. It will take a longer ROI to break-even plus it might be harder to rent it out should the economy sputters and takes a tank to the sh!th0l3.

To each his own...

Each buyer/investor has his own reason in investing in luxury condos. even if the economy is bad,there is still a market for high-end condos. There may be fewer locals renting the units, but what must be considered are expats working in the area. And when i say expats, there are quite a lot of them here and a lot of them comprise the rental market for high-end condos in Makati...

Nonetheless, there'a always a market for high-end condos in the Philippines, for certain reasons.

The Philippines is on the edge of imminent economic collapse once the market correction happens. All those banks who gave some people a loan that they cant afford in the long run, this banks will run out of funds because they can't liquidate all of their assets right away due to a future major backlogged in the realestate market.. Like those OFWs from japan and middle east that came back home recently wont have enough funds to pay for their home loan because they will be underemployed or unemployed. The market will be flooded by resales and thousands of new condo units by 2014 to 2016. Banks will collapse and soon after that investors and expats will leave the country. Who will bail us out when that happens? We are following the footstep of United States and Ireland realestate Market. It will take decades before we can fully recover when that happens.

The Philippines is on the edge of imminent economic collapse once the market correction happens. All those banks who gave some people a loan that they cant afford in the long run, this banks will run out of funds because they can't liquidate all of their assets right away due to a future major backlogged in the realestate market.. Like those OFWs from japan and middle east that came back home recently wont have enough funds to pay for their home loan because they will be underemployed or unemployed. The market will be flooded by resales and thousands of new condo units by 2014 to 2016. Banks will collapse and soon after that investors and expats will leave the country. Who will bail us out when that happens? We are following the footstep of United States and Ireland realestate Market. It will take decades before we can fully recover when that happens.

I know there are many waiting investors standing by waiting for this to happen so they can get a good deal. The fact is there will always be buyers. The issue is the price.

The construction boom in manila happened around 2004 and by the end of the current president's term it will happen 2016. It took 10 years before the Ireland and United States housing market burst. With thE skyrocketting national debt, political turbulence, high unemployment and few ofws needed abroad will surely lead the philippine economy towards neverending downward spiral. Look at the bright side, all the condo units that they are selling right now will be done before 2016. Next year we will see the first hand effect of impending blow on the housing market once all the loans from ofws that got sent home from middle east and japan gets defaulted , then the mega tsunami effect of foreclosed and resale units from buyers who wants to get out of their mortgages before the turnover of their condo unit.

I agree. I think history is totally repeating itself here. What happened in the US I mean. I don't think I'd want to invest in a project that will take 4-5 more years to turnover. You may not even get your project finished. I would rather wait for the project to be done and buy on the resale market. I noticed Two Serendra and Bellagio ads on OLX that are only asking 100k/sqm. There are an ernormous amount of units available for these projects actually.

The rate of a 1 bedroom unit in this project can get you a 10acre private island in belize or nova scotia for the same price. Foreigners are starting to see the good effects of owning the land than buying a small condo unit in manila. I have a 2acre private island in nova scotia canada and I got it for 40,000 canadian dollars.lol yes it is undeveloped land but at least I can personalized it unlike condo units that you cant expand yourspace once it doesn't fit your lifestyle anymore.lol

I agree. All those investors that are planning to sell their units now are the ones who will have the last laugh.lol all the wise investors are just waiting for the big blow on the housing market before they do a massive buyout.lol

The people who will buy a condo unit now will be the first victim of the Philippine realestate meltdown.

If you go cheap you will be ok. I would say dmci and Avida projects might be priced appropriately. Not much downside either. The other can't miss investment is Raffles. Mostly because it's a hotel and a very prestigious one at that.

I agree with you Nelly. The avida bgc will be the best bet. Dmci have a poor security managent of thwir facilities like security guard inside job robbing your condo unit. The sad incident was posted on tivoli and rosewood thread.

I agree with you Nelly. The avida bgc will be the best bet. Dmci have a poor security managent of thwir facilities like security guard inside job robbing your condo unit. The sad incident was posted on tivoli and rosewood thread.

That wasn't a security guard. That was a construction worker. He robbed from the new tower at the time and he was fired. I own a rosewood unit and it's good. I'm up around 100% as i got in early.

Yes Nelly but the same incident happened on their other project too.(tivoli residences) this speaks for dmci performance in regards of providing a safe haven for their residents.

The Philippines is on the edge of imminent economic collapse once the market correction happens. All those banks who gave some people a loan that they cant afford in the long run, this banks will run out of funds because they can't liquidate all of their assets right away due to a future major backlogged in the realestate market.. Like those OFWs from japan and middle east that came back home recently wont have enough funds to pay for their home loan because they will be underemployed or unemployed. The market will be flooded by resales and thousands of new condo units by 2014 to 2016. Banks will collapse and soon after that investors and expats will leave the country. Who will bail us out when that happens? We are following the footstep of United States and Ireland realestate Market. It will take decades before we can fully recover when that happens.

I think you are being too alarmist. Because of the Asian crisis in 1997, Philippine banks have been very prudent in handing out loans to real estate borrowers. It is quite difficult to borrow money from Philippine banks. The real estate crash in Spain, Ireland and United States were caused by reckless lending by banks to real estate investors. This has not been the case in the Philippines, so I do not see banks running out of funds since they were extremely regulated with the careful eye of the IMF. We do not have sub-prime mortgages that caused the recession in the USA.

Yes, there are a lot of condominiums being built in the Philippines, but there's a market for them. Remember that there are 10 million Filipinos worldwide. This diaspora has created the new middle class and they are funding the rise of investment properties in the country. Most of the money are coming from US, Canada, Australia, Saudi Arabia and Europe. The Filipinos who have returned from the troubles in the Middle East and Japan are a small fraction.

Foreigners are allowed to purchase condominiums in the Philippines. Cashed up Japanese, Koreans, Taiwanese and Singaporeans appreciate the potential of the Philippine real estate investment, and they are indeed buying up units. Many Western retirees from US and Europe are also interested in settling in the country so they are also buying condominiums here.

The Philippine condominium scene is not just limited to the more affluent local Filipinos, which makes up around 40% of the 95 million population. The population is growing and housing shortage is a serious problem in the country. This rapidly growing population will need shelter, so there will be intense demand for many years to come. With fuel prices rising, the Filipino middle classes, having been exposed to condo lifestyle overseas, are now preferring to live close to work and the convenience of shopping nearby. Condominiums provide the answer, therefore creating more demand. Filipinos are fatalistic, so earthquakes and tsunamis will not deter them from living in a high rise condominium. There is a large untapped market out there, especially overseas, so I think the scare tactics are unfounded.

40% of the 95 million Filipinos are affluent?! You can't be serious!

i dont have the updated figures but only 10% of Filipinos fall under the A/B/C socioeconomic classification. 67% belong to D, 23% belong to E.

i dunno how the 10% is distributed between the ABC class.

The people who will buy a condo unit now will be the first victim of the Philippine realestate meltdown.

Your analysis is over simplistic. It is dangerous to make such sweeping statement without empirical figures. How can you equate RP with America and the rest of the world. One swan does not a summer makes.

I think you are being too alarmist. Because of the Asian crisis in 1997, Philippine banks have been very prudent in handing out loans to real estate borrowers. It is quite difficult to borrow money from Philippine banks. The real estate crash in Spain, Ireland and United States were caused by reckless lending by banks to real estate investors. This has not been the case in the Philippines, so I do not see banks running out of funds since they were extremely regulated with the careful eye of the IMF. We do not have sub-prime mortgages that caused the recession in the USA.

Yes, there are a lot of condominiums being built in the Philippines, but there's a market for them. Remember that there are 10 million Filipinos worldwide. This diaspora has created the new middle class and they are funding the rise of investment properties in the country. Most of the money are coming from US, Canada, Australia, Saudi Arabia and Europe. The Filipinos who have returned from the troubles in the Middle East and Japan are a small fraction.

Foreigners are allowed to purchase condominiums in the Philippines. Cashed up Japanese, Koreans, Taiwanese and Singaporeans appreciate the potential of the Philippine real estate investment, and they are indeed buying up units. Many Western retirees from US and Europe are also interested in settling in the country so they are also buying condominiums here.

The Philippine condominium scene is not just limited to the more affluent local Filipinos, which makes up around 40% of the 95 million population. The population is growing and housing shortage is a serious problem in the country. This rapidly growing population will need shelter, so there will be intense demand for many years to come. With fuel prices rising, the Filipino middle classes, having been exposed to condo lifestyle overseas, are now preferring to live close to work and the convenience of shopping nearby. Condominiums provide the answer, therefore creating more demand. Filipinos are fatalistic, so earthquakes and tsunamis will not deter them from living in a high rise condominium. There is a large untapped market out there, especially overseas, so I think the scare tactics are unfounded.



You are right when you say that condominium living is appropriate at the moment only because of the limited landbanks that we have in the city and that everyone wants to be near their place of work. Imagine that population in Manila will hit the 20 million mark for this year so where are you going to put this people? - condominiums. Anyone who wants to live in Manila have no choice but to live in condominiums. In effect, the developers shall have the moral obligation to provide a safe and sound structure - and it is not about being fatalistic individuals. People need to have a peace of mind when they settle for something.

I noticed that most of the new condominium projects in Manila are now overpriced since 2007. When my agent from Ayala Land discussed East Tower preselling to me, she frankly told me that Ayala was testing the 140K/sqm pricing if it will be received well by the public- Alas, it did... Hence I noticed that other developers jumped in the bandwagon. So there will be correction. If you bought a property that was overpriced by the developer since preselling, then it can be hard for you to gain profit from that later on...

I believe there is something wrong with your statistics. :)

One fact that I do know is the banks in the Philippines doesn't do a thorough background check. The Philippine banks doesn't check credit scores, as long as you have a 6 months paystub,even your a contractual ofw from libya you can get you bank loan approved. Yes there will be 20 million filipinos in manila soon but not all of them can afford to pay 20k a month for a one bedroom. Specially the average filipino family have 3 children and earns at least 100,000 pesos a year. The backlogged on the housing maket is just around the corner. Its like a ticking time bomb waiting to explode.

One fact that I do know is the banks in the Philippines doesn't do a thorough background check. The Philippine banks doesn't check credit scores, as long as you have a 6 months paystub,even your a contractual ofw from libya you can get you bank loan approved. Yes there will be 20 million filipinos in manila soon but not all of them can afford to pay 20k a month for a one bedroom. Specially the average filipino family have 3 children and earns at least 100,000 pesos a year. The backlogged on the housing maket is just around the corner. Its like a ticking time bomb waiting to explode.

Agreed. Not all of the 20 million population can avail a condo in the metro unless if they have a nice job abroad.

Since every filipino doesnt have a credit score to take good care of, they can just runaway from their debts without having a negative impact on their background. Unlike here in US that the banks can liquidate all of your properties and automatically take some part of your monthly paycheck to pay off. Your debt. Those people who cant pay for their loans will just lose their condo but it wont have a negative impact on their records.

Agreed. Not all of the 20 million population can avail a condo in the metro unless if they have a nice job abroad.

You will be surprised how big the underground economy is in the Philippines. Most people under-declare their income so they don't have to pay income taxes. A shining example are the Ligots and Carlos Garcias of this world, but that's just the tip of the iceberg. Scratch a middle class Filipino, and you will find a tax evader. This is the reason why the Philippines has one of the lowest tax collection in the world, yet you see cars and malls even in the provinces. The growth of the super-malls has a direct correlation to the spending power of the Filipinos. The entrepreneurs don't build malls just for the heck of it, there's actually a demand. Yes there's a lot of poor people here, but the burgeoning middle class does exist too. Magaling dumiskarte ang mga Pinoy.

Statistics on income in the Philippines cannot be relied on.

The likelihood of the real estate crash in Manila is inherently possible but at this point, minimal. The last thing that developers want is to cause a panic of mass sell-off. The outlook of real estate market here is still positive in the next 5 years despite a possible glut in the residential market in the face of global economic recovery. But the Phil real estate market is fragile and too dependent on funds inflow. Any excess supply could only be absorbed by foreign funds flowing into the country by OFWs and foreign investors. An adverse change in employment of OFWs or foreign investors' confidence will severely impact the property market. Unlike other markets like Thailand, Singapore and even China; domestically, there is not a sufficient critical mass of growing employed middle-class who could absorb and cushion these shocks from abroad. A drastic number of the unemployed are strolling and spending in the malls and financing local businesses; their livelihood are overly dependent on the remittances of these OFW relatives. Once the flow of money into the country declines or dries-up, inevitably, the local real estate market will be hardest hit.

I totally agree with you babyface!

I think the luxury condominiums will take the hardest hit once the housing bubble burst because it will be harder to unload. I hope the developers will put up more business parks instead of residential complex to attract foreign investors. Im sure a lot of corporations will move their headquaters to the philippines when that happens because the labor workforce is cheap.

You will be surprised how big the underground economy is in the Philippines. Most people under-declare their income so they don't have to pay income taxes. A shining example are the Ligots and Carlos Garcias of this world, but that's just the tip of the iceberg. Scratch a middle class Filipino, and you will find a tax evader. This is the reason why the Philippines has one of the lowest tax collection in the world, yet you see cars and malls even in the provinces. The growth of the super-malls has a direct correlation to the spending power of the Filipinos. The entrepreneurs don't build malls just for the heck of it, there's actually a demand. Yes there's a lot of poor people here, but the burgeoning middle class does exist too. Magaling dumiskarte ang mga Pinoy.

Statistics on income in the Philippines cannot be relied on.

This is the kind of things that turns foreign investors away. The government will not be able to get adequate funding for its social spending and to assist these underprivileged filipinos to break out of poverty. For a lot of the working-class (and not to mention the growing number of unemployed), they still remain impoverished, exploited, trapped in a vicious cycle and have to struggle all their lives while the rich get almost all of the benefits driven by greed and could get away with unethical behavior. The rich-poor gap is a time-bomb. This is not conducive to a sustainable long term real estate market growth and development.