Saw the AD at the Fort Stop over..

Seibu Tower (http://www.seibutower.com)

27-story, with 270 degrees panoramic viewing area in all corners.. will rise on 27th Avenue with view of the Manila Golf.. available in 1, 2 and 3 bedrooms..

http://i29.photobucket.com/albums/c277/patok/seibu.jpg

http://img82.imageshack.us/img82/16/seibu2mn.jpg (http://imageshack.us)

Thanks Dvorak for starting this thread.

My broker gave me the following info:

Project Manager : Golden Forum Land, Inc.
Construction : C.E. Construction
Turn-over Date: December 2008

What's the track record of this developer? What are their previous projects?

ugly ugly....cant they do somrthing better?

DVORAK...very, very nice!!! lalo na yung 3 br unit having that corner sitting area in master's...i'll guess the price: astronomically, um, like at least 20M for 3 br?

HYPERFOCAL... hi neighbor! any idea how much? lapit ba estimate ko?

Saw the AD at the Fort Stop over..
Seibu Tower (http://www.seibutower.com)
27-story, with 270 degrees panoramic viewing area in all corners.. will rise on 27th Avenue with view of the Manila Golf.. available in 1, 2 and 3 bedrooms..
http://i29.photobucket.com/albums/c277/patok/seibu.jpg Hehehe...funny how the advertisement mentions "Get a better view of a better life" tapos "units with view of Manila Golf" pa daw nakasulat sa billboard. Though it may be true at present they forgot to mention the key word "temporary" kasi the only view this development will eventually have will be the facade of other buildings. Just that base on their location the much coveted view will be short-lived eh ngayon pa nga lang Fairways Tower, Pacific Plaza, and One Mckinley already blocks their Manila Golf view so what more when it gets blocked in by future building construction as FBGC develops. Pansin ko lang ganyan din kung ipromote ng Robinson's yung McKinley Park Loft Residence project nila. Ay naku buyer's beware talaga so payo ko lang better do the homework and due diligence talaga before deciding to put your deposit down and pay premium for the said views kasi promises of picturesque views often don't come into fruition and are normally DOA by the time of turn-over so sayang lang yung price differential na binayaran mo di ba? :)

ugly ugly....cant they do somrthing better? Uy di naman ugly ugly at sobra namang ugly na yun ah...Hehehe! I've seen worse looking condo projects than this and imo Seibu Tower actually looks decente naman especially upon seeing the inside/interior renderings though parang medyo nga dehado yung dateng niya from the outside like that much maligned FBGC project Forbeswoods Heights. Just that Dang those blue roofs on the 6 Forbeswoods towers stand out like a sore thumb which is why I'm hoping Megaworld paints them naman to blend in kasi they are such an eyesore. Guess we'll just have to see how this one turns out...


DVORAK...very, very nice!!! lalo na yung 3 br unit having that corner sitting area in master's...i'll guess the price: astronomically, um, like at least 20M for 3 br?

HYPERFOCAL... hi neighbor! any idea how much? lapit ba estimate ko? Hi Midsunset! Mukhang di ito high end project so malamang pwedeng makuha yan even less than half your estimate. Aba for P20M eh sa Pacific Plaza, Essensa, o One McKinley na lang di ba? I just can't really imagine anybody paying P10M pre-selling for a 3 bedroom unit in this Seibu Tower since there are so many much better buys in and around FBGC in that price range. For example, Icon which is located along Manila Golf is also at pre-selling and has 2 & 3 bedroom corner units with the golf course and Makati skyline views available for less than P10M cash transaction (VAT inclusive). Geebeng mentioned that one can buy a 3 bedroom unit in Bellago 3 facing Manila Golf at pre-selling for around P10M cash transaction (VAT included). I also remember Dvorak mentioning sa Boni Ridge (along Manila Golf din) daw eh 2 bedroom units with golf course view can be had for around P8M + VAT on resale and usually may kasama na yong parking so a 3 bedroom unit I magine will run in the P10M range din (same as Bellagio) at kagandahan pa nito eh gawana to so pwede na tirahan o parentahan. I think this Seibu Tower will be realistically priced just like Robinson's McKinley Park Loft Residence to reflect their location and target market as well.

yeah, it's really funny how they even use the tagline "get a better view..." when all the last good views of Manila Golf have all been taken by Icon, Fairways, Bellagio I, Bellagio II and Bellagio III and the future Megaworld condo infront of Forbeswood Parklane.
Other than those and the original 'Manila Golf view" condos like Pacific Plaza, One McKinley and Boni Ridge, no other condo can claim to having a good view (or according to Seibu, a better view? wtf?) of Manila Golf.

Hi Midsunset! Mukhang di ito high end project so malamang pwedeng makuha yan even less than half your estimate. For P20M eh sa Pacific Plaza, Essensa, o One McKinley na lang di ba? I just can't really imagine anybody paying P10M for a 3 bedroom unit there since there are so many better buys at that price range in and around FBGC. Geebeng mentioned that one can buy a 3 bedroom unit in Bellago 3 for around 10M cash transaction (VAT included) eh yun talagang golf course view since it is located along Manila Golf. I also remember Dvorak mentioning sa Boni Ridge (along Manila Golf din) daw eh 2 bedroom units with golf course view can be had for around P8M + VAT on resale and usually may kasama na yong parking so a 3 bedroom unit I magine will run in the P10M range din (same as Bellagio) at kagandahan pa nito eh gawana to so pwede na tirahan o parentahan. I think this Seibu Tower will be realistically priced like Robinson's McKinley Park Loft Residence to reflect their location and target market as well.

oh well...kung wala na nga silang realistic manila golf view, hindi justifiable yung ads nila...kase naman diba dun sa virtual tour maaakit ka sa view, esp my fave part: yung sitting area sa master's...tama kayo 3CR and thomasian, boni ridge will give a better view, and if it's around 20M, essensa na...problema na lang sa essensa is the essential part: pambayad ng cash, hehehe!!! :lol: or kung i'll buy over my budget right now, it would be a 2br at mckinley park as i really like the floor plan and loft style (magiging dobleng kapitbahay ko nyan si DCDR76)...

Naku ikaw naman pala ang may pagnanasa sa Mckinley Park Lofts eh! Yun si Bevepi works for Robinson's and will be more than happy to assist you at may pa-discount pa ka mo kung sa kanya ka bumili. Eh di mukhang future kapit bahay ko na kayo nila Dcdr76 sa FBGC. Ang dami na rin SSCF members na unit owners sa FBGC niyan. Saya! :)

Actually they probably do have a view of manila golf, perhaps not a wide panoramic one. In Sydney the Real Estate Term is "water glimpses", which means you can see some part of the water (harbor) from some part of your home! I'm sure they'll have some sliver of greenery that the units with views cancount on. hehe:)

"panoramic views in all corners".. baka yung isang corner lang ang may manila golf view..

how about the developer?? any other previous projects before this?

Somebody should really update the u/c-Prop. list due to the Seibu Tower.

Naku ikaw naman pala ang may pagnanasa sa Mckinley Park Lofts eh! Yun si Bevepi works for Robinson's and will be more than happy to assist you at may pa-discount pa ka mo kung sa kanya ka bumili. Eh di mukhang future kapit bahay ko na kayo nila Dcdr76 sa FBGC. Ang dami na rin SSCF members na unit owners sa FBGC niyan. Saya! :)


sana nga (sigh)...kaso my units are RFO na so kelangan nang gastusan sa renovations and furnishings. :hahano:

howdy neighbor midsunset! Your estimate is way off... got some quotes from my broker:

1 bedroom 40.67sq m - starts at approx P2M
2 bedrroms 75.71 sqm - P 3.8M
3 bedrooms 118.58 sqm - P 5.8

With these quotes, can Seibu be considered to be one of the lowest priced projects in FBGC? Turnover is Dec 2008. I was told that this is a co-development concept, with an escrow agreement placed with Equitable. Guys, is this similar to G&W Architect's projects (Grand Hampton, Kensington, Pernhurst, Hampton) and SOMA?

I am currently in the market for a 1 bedroom pre-selling unit and I am quite interested with this project. However my main concern is the developer's track record and reputation. Would any one know if they have a good track record?

By the way, guys, I don't know if this is the proper forum to bring this up, but I would appreciate your opinion. I've narrowed my choices only in FBGC. With similar price points, I have shortlisted my choices to the following: 1) The Seibu Tower, G&W Architect's 2) Grand Hampton and Robinson Land's 3) McKinley Park Residences and 4) Fifth Avenue. I would appreciate if you could give me your recommendations/suggestions on which project to purchase. Thanks!!! :)

^^ I think on those condos, Fifth Avenue Place has the best view.
Fifth Avenue also has plenty of open spaces on the ground level which allows for a more relaxing outdoor-pool (at the ground level) and gardens as opposed to the indoor pool and amenities offered by those other condos that occupy almost all of their lot space. Kaso... sold-out na ang Fifth Avenue, kaya nga nilaunch ng RLC and McKinley Park.

^^ Hyperfocal,
First of all good choice on your plans of investing in FBGC. Can't go wrong with that. Regarding your first inquiry, if that is the payment scheme (using a bank as escrow) to be used in the Seibu Tower project, then it is indeed similar to G&W architect's projects (Grand Hampton, Hamptons, Kensington, Penhurst etc.). This method of payment/purchase is suppose to protect the investors from non completion of the project which I'm all for that. Regarding your second inquiry sayang sold out na kasi yung 5th Avenue eh or I would have recommended that you check out that project kasi gaya ng sabi ni Aaron(thomasian) it is fairly priced and has good views of the Makati Skyline, Manila bay, and Laguna de bay though it backs the American Cemetary nga lang pero kapitbahay din niya yung Serendra and Regent Parkway. Anyway if prices are relatively similar, my choice ranking among the available projects you've listed will be as follows: 1.) Grand Hamptons, 2.) McKinley Park Loft Residences, and then 3.) Seibu Tower. I actually very much like Grand Hampton's look as well as location in FBGC (over Seibu's) kasi it has a glassy exterior and location-wise will be near the future linear park & commercial area as well as Forbestown's commercial boardwalk. However if you prefer the loft style layout, no choice then but to go for McKinley Park Residence since that's the only loft style condo project in FBGC currently. MPR is located near the Grand Hamptons site so ideal din location niya (over Seibu's). Though I prefer these two projects better, I'm not trying to bad mouth Seibu Tower in any way ha but just that I am not familiar with the developer's track record/reputation as well as not that crazy about it's location either kanya last place siya sa ranking ko. But in fairness naman sa Seibu Tower, I think it is a decent looking project and looks like you get alot more space for the money compared to the other two projects. Of course this is just my opinion so please take it with a grain of salt. In the end it's really up to you to decide what best fits your requirements (price, payment plan, location, turnover date, etc.). Hope this helps. Good Luck bro. :)

PS: I remember there is another residential project to be constructed in FBGC that's 36 floors high called Winville by Winville Developments. Wala akong balita if they have started construction on this already but you can have your broker check on that for you as well.

i wonder how could this tower have 270 deg views. could this be an L-shaped tower? or maybe Z like Shang Tower.

Seibu Tower? I was thinking of the known Japanese department store with either a residential or office tower. I would be surprised if Seibu construct one in Manila.

i wonder how could this tower have 270 deg views. could this be an L-shaped tower? or maybe Z like Shang Tower.

It's plain square, they're referring to the view that a corner unit gets.

i wonder how could this tower have 270 deg views. could this be an L-shaped tower? or maybe Z like Shang Tower. Francis,
Kung 270 degree views malamang 3 sided windows (dual corner) yung end units ng Seibu (just like Metropolitan's Skyloft corner units) at mukhang yung 3 bdrm units lang nila ang may 270 degree views sa aking palagay. :)

Thanks Thomasian and 3cr on your inputs, I'll take those into consideration when I make my final decision.

3cr is correct, only the 3 bedrooms will have the 270 degree views.

The project offers "softer" payment terms (compared to other FBGC projects)kaso my apprehension is the developer's track record.

so the windows will make 3br units have 270 deg view?

kala ko parang Shang. or maybe like One Rockwell. Kita mo sunrise at sunset. :D

Yeah, the Seibu's price and size cut are very similar to GW projects,and even the bank escrow scheme. I think...i read it somewhere that they are related..a family of architects. I'll go for Grand Hamptons if the unit prices are very close to its twin,and it may have bigger cut since they max out the corners. I hope GW's folks are lurking and throw me in a free parking slot...ang kapal ba.(biro lang)

the exterior is average-looking. it doesn't excite me...

uy pare.. buhay ka na naman ha! i know something that might excite you! bwhahahahaha :bash:

the exterior is average-looking. it doesn't excite me...

Apparently Gilbert Yu and Albert Yu is not the same firm. I was mistaken in my last post in assuming this. They are far relatives and do exactly the same thing (and apparently the same taste in design!). Anyway actually looks pretty generic to me too.

hmmm so why name it Seibu tower?? is it related or being funded by Japan's Seibu Department store?

howdy neighbor midsunset! Your estimate is way off... got some quotes from my broker:

1 bedroom 40.67sq m - starts at approx P2M
2 bedrroms 75.71 sqm - P 3.8M
3 bedrooms 118.58 sqm - P 5.8

With these quotes, can Seibu be considered to be one of the lowest priced projects in FBGC? Turnover is Dec 2008. I was told that this is a co-development concept, with an escrow agreement placed with Equitable. Guys, is this similar to G&W Architect's projects (Grand Hampton, Kensington, Pernhurst, Hampton) and SOMA?

I am currently in the market for a 1 bedroom pre-selling unit and I am quite interested with this project. However my main concern is the developer's track record and reputation. Would any one know if they have a good track record?

By the way, guys, I don't know if this is the proper forum to bring this up, but I would appreciate your opinion. I've narrowed my choices only in FBGC. With similar price points, I have shortlisted my choices to the following: 1) The Seibu Tower, G&W Architect's 2) Grand Hampton and Robinson Land's 3) McKinley Park Residences and 4) Fifth Avenue. I would appreciate if you could give me your recommendations/suggestions on which project to purchase. Thanks!!! :)


neighbor HYPE...tnx for providing the prices of Seibu...all i could say is WOW :shocked: ...i was really way way way off, thinking this is a hi-end proj...anyway, that's interesting---i'm beginning to really like it as a 3br (which really caught my attention) is really affordable...i mean, really? that's the price? i like the floor plan, and it has a nice flow---i don't care how it looks like outside as i would spending most of my time inside anyway...i mean, c'mon---if you would buy a condo unit bec it is an architectural wonder, how many minutes a day, really, would you stand on the ground outside,try to look up and appreciate its design over and over again? :sly: but your unit itself, yes, that's what i believe in: it shld have a nice flow, interior design-wise, ample space, serves you right 24/7... this is only my opinion, as i value space (bedroomssss) first than anything (family-wise), like i would buy an SUV with a 3rd row seat than a 2 seater sports car with the same price---but everybody has different needs and cravings, ika nga...so...
anyway, going back to condo investing, i would prefer MPR, tatawa na naman si 3CR, alam na alam ang pagnanasa ko in this project,hahaha! but since affordability is also my concern aside from space (bedroomssss), then Seibu is a good alternative... :righton:

^^ Mmmm naku mukhang meron talagang mapapabili sa MPR ng di-oras...Anong say mo mare lapit na bang bumigay sa pinagnanasahan?... Hehehe... :jk: :D

anoooo?????????

uy pare.. buhay ka na naman ha! i know something that might excite you! bwhahahahaha :bash:

it's just like those midget skyscrapers.. it must be some kind of masterplan, or just FAR regulations that there have been 3-4 high-rises of the same height and design around that BGC area?

seibu sounds so zen like design but it is not at all, the name just sounds good

saw it in archikonst na asya design partners ang nag design nito...

very Chinese design ang exterior ...but i like the interior...parang opisina ang dating.

saw it in archikonst na asya design partners ang nag design nito...

Oh, same arch. firm as Mayfair Tower.

My broker just sent me some information about SEIBU it looks good but nothing fantastic. He is sending me a CD with the presentation this week.

The exterior is not so bad but what's good is the interior, my broker said that it's not furnished but it looks like it's interior decorated (drop ceilings, lightings,) you get what you see from the pictures except the appliances and furnitures.

Another thing that's good is that there are only 10 units per floor, so it's low density and the turn over date is Dec 2008. They also have flexible payment schemes as long as it ends in 3 years.

The price is very good but like 3cr I'm not so sure about the location and the view.

Seibu is a simple building, pero it's ok na rin to be placed in FBGC, additional to the skyline...

Seibu is a simple building, pero it's ok na rin to be placed in FBGC, additional to the skyline...



I agree with you Kiben...had i not bought a unit at Hamptons, i'll definitely put this one on my top list because of its affordability and cut size...especially the corner 3 bedroom.....damn!!!

^^ Seibu's 3 br corner unit looks so right! i think very attractive talaga yung interior design nila especially (ang kulit ko) yung sitting area sa master's! dumadami tuloy nagse-second thought...ako din, kung di pa ako nakaka-invest, i might get this...and of course, 3CR, ang walang kupas na MPR, hehehe! :nocrook:

Got some quotes from my broker:

1 bedroom 40.67sq m - starts at approx P2M
2 bedrroms 75.71 sqm - P 3.8M
3 bedrooms 118.58 sqm - P 5.8

With these quotes, can Seibu be considered to be one of the lowest priced projects in FBGC? Turnover is Dec 2008. :) Don't know if this Seibu Tower project will be the lowest priced development in FBGC but definitely one of the cheapest/lowest. I wonder kung may option din for cash purchase transaction and if so magkano kaya ang discount for cash purchases for those units? Curious lang naman if the price differential will be worth the risk of paying ahead of time as oppose to the escrow account method of payment. Very risky if the developer has no track record kasi marami nang nagyari where buildings don't get finished and the pre-selling investors/buyers are left hanging. :)

Is Seibu tower U/C already???

Just a suggestion. Review the contracts very well. If you could get a hold of copies of contracts between GW, SOMA and Seibu all the better. I believe they have very different ways of treating their Build to Own Schemes with regards to ownership, defaulting and all that. Personally, G&W is the most successful in BTO schemes. I got a unit at Hampton's and Grand Hampton's looks absolutely sweet! But that's just me ;p

halos lahat ata ng ssc forumers may unit, sana ako din. hahaha

Seibu looks interesting, and you're right 3cr, it seems to be one of the lowest-priced projects in FBGC. I wonder how reliable the builder is though.

Don't get me wrong, I'm very happy with my unit purchase at Hamptons and in a way its my little pride and joy.I'm rest assured also of GW's track record and knowing they will be handling the admin and management of my condo building. :)

I would stay away from Seibu...I have the company profile and did my research about this comany...its basically a new company, with no experience in becoming a developer. In their company profile, they even mentioned a few notable things, which I don't know why they would put it there...

1) They are a company with a small capital
2) They were incorporated in 2003, with only 1 project in its belt, which is the 2-storey "Forum" commercial for lease building. I've seen this project, and it is one of the cheapest constructed structure in BGC.

I will scan the company profile and post it here soon.

I am in the market too, and had my broker search the SEC papers of this company...it turns out their paid up capital is only Php 67,500 and they are a development company...makes me wonder how easy it is to be a developer here in Manila. With my reservation fee, I wold double their company size. Also, I have a feeling that the property the projects is being built on is mortgaged to Manila Bank...it says so on their agreement with Equitable Bank.

The documentation is also a bit weird. I reviewed the Depository and disbursement agreement of Banco De Oro (with G&W projects), and it is a direct agreement between me as the client and the bank to protect my money. I was told, with thie agreement, it is similar to me opening a bank account with Banco De Oro. When I looked at the Equitable bank agreement (Golden Forum Land Inc "GFL"), it is a tri-partite agreement...I consulted my lawyer, and he said, it is like I am opening a joint account with GFL who will have as much right to my money as I do...so in a way, effectively it is similar to no protection at all.

Anyway, I went to their launch in the NBC tent. The program lasted about 15 minutes, with Arch Albert Yu and Harvard Yu speaking, it was riddled with Fil-Estate brokers and a lot of megaworld brokers trying to act as clients getting info! I actually thought that their company is the same with G&W, but later on it was clarified by my broker that G&W is a completely different company with no relations to the Yus of GFL. I felt like I was almost mislead by this company, as all their brokers keep on saying it is just like G&W.

I might wait for the launch of Grand Hamptons, which I was told, will be middle of April. Their model unit is being constructed right now, and I saw the plans. The design is much much better for the 1-BR compared to Seibu. Just by looking at the Bathroom, with Seibu, the bathroom and the bedroom cannot be farther from each other...i'd hate to walk all the way to the opposite end of my unit just to use the bathroom in the middle of the night. Grand Hamptons will have a 1-BR where the bathroom has 2 doors, one inside the bedroom and one by the living room...similar to the rockwell model unit that I saw before.


howdy neighbor midsunset! Your estimate is way off... got some quotes from my broker:

1 bedroom 40.67sq m - starts at approx P2M
2 bedrroms 75.71 sqm - P 3.8M
3 bedrooms 118.58 sqm - P 5.8

With these quotes, can Seibu be considered to be one of the lowest priced projects in FBGC? Turnover is Dec 2008. I was told that this is a co-development concept, with an escrow agreement placed with Equitable. Guys, is this similar to G&W Architect's projects (Grand Hampton, Kensington, Pernhurst, Hampton) and SOMA?

I am currently in the market for a 1 bedroom pre-selling unit and I am quite interested with this project. However my main concern is the developer's track record and reputation. Would any one know if they have a good track record?

By the way, guys, I don't know if this is the proper forum to bring this up, but I would appreciate your opinion. I've narrowed my choices only in FBGC. With similar price points, I have shortlisted my choices to the following: 1) The Seibu Tower, G&W Architect's 2) Grand Hampton and Robinson Land's 3) McKinley Park Residences and 4) Fifth Avenue. I would appreciate if you could give me your recommendations/suggestions on which project to purchase. Thanks!!! :)

by the way...I was given this link by G&W people...www.gw-architects.com/thegrandhamptons

Haha, its like a preview of a movie.

Seibu looks interesting, and you're right 3cr, it seems to be one of the lowest-priced projects in FBGC. I wonder how reliable the builder is though. Quietlife,
I posted an inquiry in the "Guide to buying condos/Reliable developers/Post your problems with developers here" thread and Exacc has responded with a rather negative feedback of Seibu Tower's developer above. ^^
Based on his research peligro daw ang developer so buyers beware...(Thanks Exacc for your feedback.)

http://photos.e46fanatics.com/data/500/31715GFL_company_prof_small.jpg
http://photos.e46fanatics.com/data/500/31715GFL_1-BR_small.jpg

I talked to Gibson Yu, who is the son of Arch. Gilbert Yu, the one running the model unit at BGC. He told me that Albert Yu and Gilbert Yu are not related at all. Apparently, he said in the industry, there is a lot of confusion about that...and a lot of people think Albert Yu and Gilbert Yu are related, and that might have been the motivating factor for GFL to hire ASYA, to make it seem like they are the same as G&W. Conspiracy? hehe!

Anyway, what made me remove Seibu as a choice in my list is because they wanted me to hire them as a project manager...but they have no experience whatsoever in project managing, except for the 500 sqm building they made here in BGC. Seibu is a much bigger project, and I am not sure if they can do it...the experience really shows, in their approval of Albert Yu's design. The design is wrong, and yet it did not trigger an alarm in their company?!?!

Exacc,
I found it very shady how Seibu Tower's video stretches the truth by showing the Manila Golf Course as the unit's actual view outside. Duon pa lang may bahid na ng kasinungalingan (very deceptive advertising) itong developer na ito which already made me uneasy as I wonder what else could they be capable of lying about. That's why when Hyperfocal made that inquiry I adviced him to just go for GW's Grand Hamptons or Robinson's MPR (McKinley Park residence) wih my first preference being the former unless he likes the loft concept better.

Exacc,
Thanks for that valuable info.I agree ,that Developers reputations and track record are of great importance to consider when buying a condo property, so,buyers beware especially for overseas based.

Gibson Yu of GW has finally graced us with his presence sa Kensington thread which is why I posted an inquiry for him regarding the Seibu Tower developers bearing the same last name as his and how it is creating confusion to the track record of this developer. Looking forward to his response. Sana sagutin niya. Anyway he just opened the thread for Grand Hamptons. Maganda yung floor plan kasi ang concept all rooms are corner units (corner views).

Hi Gibson.
Thanks for gracing us with your presence. Glad that Kensington will be delivered per time promised. Any news you can share about your latest project Grand Hamptons"? Please also clarify if the developers of the Seibu Tower is in any way affiliated with GW because there seems to be alot of confusion about the track record of the developer. Feel free to check out the Seibu thread to see what I'm talking about. Thank You for your time and assistance. :)
Best regards,
3CR aka Boe Rodriguez (SSCF member)
San Francisco, California
USA

Hello Boe, thanks for the info. We are not at all related to nor associated with Golden Forum Land Inc & its Proprietors Peter Yu and Harvard Yu and Arch Albert Yu. We are now preparing an official statement to correct the misleading remarks that have been made by that company. We feel very strongly about companies, like GFLI, as they are exactly the company we are against when we say middleman developers, who have no experience in construciton offering themselves to lead a billion peso development and get people to trust them with their life's savings.

They claim to do a Build to Own system, when in fact they do not fully understand how we execute this, in terms of legal, administrative, and financial strategy, a lot of the important details that cannot simply be copied from our brochures. They are just trying to ride the success by copying all our marketing materials and terminology.

Please do not take me wrong, we welcome people following the Build To Own style of development, as this is beneficial for the real estate industry. However, in this particular instance, we feel that they have gone through a long extent to mislead people that it is a G&W development and it is a Build To Own project.

To set the record straight, Build-To-Own is a construction industry initiated development, led by G&W Architects. GFLI's Harvard Yu, is a developer led system (as it says in their brochure) that is posing as Build To Own.

We do know who they are personally and in fact, Peter Yu's own brother lives in Penhurst Parkplace.

Thank You Gibson for taking the time to clarify this for us so that there will be no confusion. Btw I checked out the Grand Hampton link and all I have to say is Wow! Looking forward to more info on this new Hamptons project of yours. :okay:

Exacc,
Thanks for that valuable info.I agree ,that Developers reputations and track record are of great importance to consider when buying a condo property, so,buyers beware especially for overseas based.

Hello Macky, thank you for your support in our project. We value each and every client we have. Have we met before in our showroom? Anyway, I wanted to let you know that I am in the showroom everyday, and most of the weekends as well. We take the time to personally assist all the clients, as we are in the best position to do so as the builder of towers. My brother is the chief architects, and he is the one on site to inspect the building progress.

The Developer reputation and Track record is one way of assessing a project's viability. However, another aspect that most people overlook, is the ABILTY of the developer or company. Do they have the skill set to know what the critical and important factors are for the success of the building? When they price the units, do they know the actual cost of construction, and can they maintain the quality they promised with the clients? Do they know the fact and figures and trands of the construction indistry. Like the fact tha construction cost increases every year by 5% to 8%? A 25 storey tower can be comfortably completed within 24 month (as a rule of thumb, the correct timeframe of a building is 1 month per floor) We see a lot of projects where the construction schedule is delayed...why would a developer delay construciton, knowing that if they construct earlier, they stand to save on the cost of materials?

Many people have told us that we are radical in doing the Build To Own, and Arch Gilbert Yu is burning brides by going direct to homeowners...however we feel that it is a win-win situation for both the clients and the architects.

A fact that many people do not notice is that in every project that a developer does not complete...a lot of clients lose thier money, but also the architect and the contractors are not paid for works that they have done. And with our share of bad debts from developers, we have learned that the best way tp protect ourselves is to do our own research and not to accept any developer client that walks in (many contractors nowadays are also very picky in their clients) We look at 3 critical aspects in every project:

1) Land Disposition - who owns the land? Is it mortgaged? (It is illegal in the USA but legal here to sell land that is mortgaged to the bank) If it is a joint-venture, what are the terms of the joint-venture. As much as possible, the land should always be free from liens.
2) Disbursement of funds - can the developer have access to cash even without construction, or are they paid based on progress? If they get cash in advance, that means they can divert it for other purpose.
3) Construction schedule - is what they offer a realistic schedule? If they pan to deliver it on x date, they should start by x date...have they started yet?

I hope these info helps in your research of projects!

No problem bro. It's nice of you to visit us here in SSC thread. Where else can you find a Project Director directly answering and giving information regarding their projects. I hope other project developers do the same thing by having some representatives to answer and give out information about their projects too.

Thank you for the valuable information Gibson.

There were things that I was wondering about and has now made me more doubtful.

1. My broker told me that the completion date is December 2008 and they still haven't started construction. Is this a realistic date?

2. They are offering a 30% discount for cash purchase which is really amazing for the location and floor area. Imagine a 118sqm 3 bedroom will just go for 4 million 60 thousand pesos (original contract price of P5.8M) which is only about P34,400/sqm.

3. My broker said that the consruction of the building is at an escrow account, does this have any bearing on the security of the buyer's investment.


Seibu is either a really fantastic deal or dissapointment in the making.

^^ Wow 30 % discount on top of that already enticing pricing for cash purchase transactions. Very aggressive indeed. Just makes me wonder will Seibu Tower be too good to be true and as Oddvertising said dissapointment in the making? Guess only time will tell but in the meantime buyers beware since better safe than sorry di ba...

Thank you for the valuable information Gibson.

There were things that I was wondering about and has now made me more doubtful.

1. My broker told me that the completion date is December 2008 and they still haven't started construction. Is this a realistic date?


Hello, as much as I would like to answer these questions directly, my answers woul not be more than just opinions. And being in my position in G&W, I also do not want to be dismissed in this forum as biased on our project. I will however give some informaiton that you may use your own judgements to see wether these informaiton is correct or not.

1) Our project, The Grand Hamptons Tower 2 will start its construction on November 30, 2006 of this year. It will be a 20-storey (21 floors without 13th floor) structure with 5 basement levels. Our schedule of completion will be November of 2008.

I believe that Seibu has 5 levels of basement as well, and 29 storey tower (please correct me if I am wrong with these details).

All I will say is that, for the time frame we committ to clients, the contractor is working at 100% capacity...work on site with our Kensington, Hamptons Tower 1 and with Penhurst back in 2002 was 24 hours a day, and 12 hours on sundays. The way Banco De Oro is structured, is the the contractor will only get paid based on progress, so it is in their best interest to compelte the project as fast as possible, to get paid as fast as possible.

Kensington which we will be turned over by the contractor to us on July, 2006 used up its full 24 months of construction, it is 21 storey structure with 4 basements. The lot area we used is 1,964 sqm, with FAR of 9.

1. My broker told me...


A general statement about Brokers here in the Philippines...

The rules and regulations of brokers here in the philippines is very lax...majority of the time, brokers are not licensed and still practicing here in the Philippines. I would stay away from non-licensed brokers as they cannot be held liable for any misrepresentation that they make.

Further, there are 2 types of brokers as well:

1) In-house - the style that mega world made famous
2) Independent

The problem is that if a broker is in house, they cannot exercise their fiduciary agreement and protect the client (YOU), because they are forced by their boss to sell only their product. So if you ask them, "In your opinion, what is the best project here in Fort..." - I am sure you know the answer to that already.

Personally, I would rather go with an Independent and licensed broker. Independent broker has the freedome to choose which project they can sell...all comapnies accept accreditation from independent brokers, therefore, all independent brokers are free to sell any project here in Fort...and will much likely be in a better capacity to give you a more honest answer.

It is our philipsophy in our company not to have in-house sales, and only work with independent brokers. We just have to make sure that our projects are in the best interest of the clients, and therfore get the support of brokers.

I will not tell which company exactly, but there are information and feedback given to me by the independent brokers we work with that a certina copmany in BGC is giving a higher rate of commission to attract brokers. Unfortunately, not all (a minority) of brokers do accept these offers, even if they know that the project is not of the best interest to their client.

So please do not always take the word of your broker if it seems unrealistic. ASk for proof..and in this case, ask for the construction schedule. When will they start with the construciton? Can they give you a side-letter in the contract that will say: If the construction start date is not met, you have the option to withdraw and all your money be returned to you in full?

2. They are offering a 30% discount for cash purchase which is really amazing for the location and floor area. Imagine a 118sqm 3 bedroom will just go for 4 million 60 thousand pesos (original contract price of P5.8M) which is only about P34,400/sqm.

Well, to answer this question, I would definately say that if they sell the entire building at this price...IT IS IMPOSSIBLE.

Good quality construction is at least 20-25 thousand per sqm. consider that there are also common areas in the building, and not all sellable unit areas. Usual buildings have an efficiency of about 80% to 85% at best. Thsi means that only 85% is sellable, which means the effective cost of construcion of the unit is 25T plus 15% which is about Php 28,750.

Now, we go to land cost. Without knowing exactly the deal between Manila Bank and Seibu...I will take the cheapes tland Ayala is Offering, which is 65,000 per sqm and with an FAR of 8, which has a cost of Php 8,125 per FAR per sqm. The per FAR cost is also not exactly the net area...but without adding any other cost, the construciton cost and the land cost alone will be more than the 34T per sqm quoted.

Now, what about the architectural fee, the engineer fees, who and what will they pay their structural engineer? How about the legal fees, the broker fees and many other costs.

Given that they wills spend the same as we will in construction, I doubt that they will make it happen...or probably have a building that does not meet the standards you would expect.

Thank you for the information Gibson. You're presence in this forum is really appreciated by I'm sure most of the posters. I think you are just giving us very objective opinions and information.

I hope you keep on posting and giving your 2 cents from a developers point of view as well as an enthusiast of urban living.

3. My broker said that the consruction of the building is at an escrow account, does this have any bearing on the security of the buyer's investment.

Ask this broker what an escrow means, I doubt he knows what it realy means. in the Philippines, there are no such thing as an escrow agent. That is only in the USA.

Anyway, given the benefit of the doubt that they do have an escrow bank, I would still review their contract. I have a copy of their contract and we found it weird that you and the bank are the signatories..but a third signatory is included, which is Golden Forum Land Inc also. They may have changed this...but that would be alarming for me. Because without checking all the details of the contract...with 3 parties signing, it will already seem like the develoer has as much right to my money as I do...legally speaking.

What we have in our project is entirely different. We have a depository and disbursement agreement with Baco De Oro Trust department. We do not represent to have an escrow bank at anytime. To give you an idea, Trust is the bank group you would talk to if you, for example, will retire and leave a big fortune to your family. But you fear that they will mishandle these money and may spend it on useless things. Being the caring father you are, and to make sure it is not given all at one time, you will approach the trustee deartment of a bank. YOu will then draft a contract with them to hold your money, and give it to your children based on the guidleines you set. MAybe give them 10% per year starting when they get married. You then sign a contract between yourself and the bank, and deposit your wealth there.

What we have is similar in which you sign a contract with the bank...only you and the bank...and instruct them to do 2 very important things:

1) Release the money only direct to the contractor and the architect
2) Only release this based on the progress of construction. IF there is no construction, there will not be a realease of a single peso from my account.

We believe that his is how clients should be protected. It also acts as a benefit to us, as we are assured of payment when we build the tower.

Thanks again, I would go and ask my broker/agent about these valuable information you shared with us. I'll post her answer as soon as I get it. :cheers:

We shld be thankful that we have this forum that really helps us a lot in finding the right investments and appreciating what we have...thanks to the people here that took time and effort to give light to the said project...now Seibu is like "too good to be true",huh? i was thinking had i not invest on two i would fall for Seibu...oh well, 3CR, i told you already what's in my mind really, hehehe! :lol:

Oh, same arch. firm as Mayfair Tower.

yeah, and also university tower... :)

3CR, i told you already what's in my mind really, hehehe! :lol: ...Hehehe... :)

Thanks for the info Exacc! Thanks also to Gibson for clearing up a lot of things. I hope a lot of prospective buyers do their research and happen to chance upon this forum. Personally, I'll help spread the word to my friends and relatives who are in the market for a Condo. I'm not being for or against Seibu but I hope that the information here helps buyers in making their decisions with their hard eared savings.

Thanks for the info Exacc! Thanks also to Gibson for clearing up a lot of things. I hope a lot of prospective buyers do their research and happen to chance upon this forum. Personally, I'll help spread the word to my friends and relatives who are in the market for a Condo. I'm not being for or against Seibu but I hope that the information here helps buyers in making their decisions with their hard eared savings.

Hello, Thank you hv_k also. I wanted to clarify as well, that we are neither for nor against Seibu towers and its proprietors. In fact, we are encouraging companies to do similar things to what we are doing because it is good for the clients and the general public. If we can have an industry filled with credible players who can compete projects at reasonable price and great quality...then more people will want to invest their hard earned money, and the country will flourish as a whole!

The only things that we criticise are the following:

1) In doing so, we do not appreciate the fact that there is no effort to clarify on their part that we are not related (In fact it almost seems like it is being done on purpose). A cold call made by one of my staff memebers revealed that their brokers answer to all the questions is: "Pareho dun sa G&W...", even coining the phrase that we started "Build To Own".

2) Please do not copy our contracts, make minor changes to the clauses to remove the protection we have instigated...and pass it off as the same system!

3) Have full disclosure to the clients...a big questions I have with this project is the disposition of the land. In their contracts, it is mentioned that the land is still owned by "Manila Bank"...which is a bank that is not very financially stable, and at one point have already declared bankruptcy.

Moreover, their supposed "escrow bank" is Equitable bank, BUT their financing is offered by Manila Bank, which will lead me to believe (although there is no hard eveidence, but the probability is quite high) that the land is being mortgaged to Manila Bank. The financing if done the same way as we did should be offered by the same bank holding the clients' money in trust (Banco De Oro in our case), and not the land owner.

hey guys. if you have any concerns about Seibu Tower, dont hesitate to address it to me. I'll be more than willing to show you why Seibu Tower is among the better/ wiser options that we can seriously consider in investing our hard-earned dinero! peace!

hey guys. if you have any concerns about Seibu Tower, dont hesitate to address it to me. I'll be more than willing to show you why Seibu Tower is among the better/ wiser options that we can seriously consider in investing our hard-earned dinero! peace!

SEIBU101,

I would like to ask more information regarding Seibu Tower project. I for one got attracted when I first saw the prices and unit cut sizes of your project in the BGC area. However,as a cautious and well informed buyer, many here in the forum felt that it was to good to be true especially not knowing the track record of the developer. Can you further elaborate and explain to us why Seibu Tower project is a wiser options aside from being one of the lowest price condo in the Global City or rather prefer calling it now as Times Square. Last thing, does it offer the same consumer protection like the original 'Build-to-own' scheme?

I finally got some reply from the broker about SEIBU.
Like Macky I also am interested with Seibu but wanted to know more about the project and I hope SEIBU 101 can shed some light into some of the concerns. Anyway, I'm posting the response I got from the people I asked concerning SEIBU. I'm still undecided but anyone who cares can have a read at the response below and decide for himself.



"Thank you for forwarding the message to us. To answer the concerns of the Client, in the first place, we never claimed to be a relative of the YU's of Hamptons, it just so happens that they have the same Family name. With regards to the credibility of Albert yu as our Architect, they have numerous buildings credited under them, McKinley Park residences, Lee Gardens Mayfair. Mezza Residences of SM. to name a few. He is currently one of the "hottest" new architects in the Philippines; he has won so many architectural awards. He was chosen by BCI Asia as on of the top ten Architecture firms in the Philippines. That may be a reason to have some “established” architects to react in an unprofessional way. It is amusing that they would also refer to McKinley park of Robinsons as an alternative because it is also one of the projects of Albert Yu. It seems that they did not research diligently and just would spread rumors against Seibu and Albert Yu.

Since majority of the brokers here used to sell for Hamptoms, It may be convenient for them to just say it is “similar” to Hamptons rather than just explain this new concept. So far we have already corrected a misconception about Seibu similar to Communidades, which is not. I’m sure Hampton has gotten the same problem when they started.

As for the construction side, this will be handled by CE construction. Projects made by them include Tektite tower B, GT tower International in Ayala ave., Fil-Invest Supermall in Alabang, PSBANK Tower in Ayala ave.

Unlike G&W, Seibu tower is consists of 3 different companies coming together to design, construct and manage the building. That is why the PMC and the Escrow Agreement is arranged differently from G&W. It is true that Golden forum can instruct Equitable bank to payees, but is restricted to suppliers directly connected with the construction of the building. In no time can Golden Forum issue instructions to pay to itself. It seems that they did not bother to finish reading the agreement and relate this to the Project Management Agreement. An arrangement like this would definitely not work for a company like G&W because they are the Architect, Project Manager, and contractor in one. The key here is that Seibu Tower is made possible by 3 different independent companies double checking each other to make sure that the building will be delivered on time and the funds not diverted.

With regards to the Paid-up capital of Golden Forum Land, It has been increased to 20M allowed, 5M subscribed, and 1.25M paid up. For a company that is starting up it is a significant amount. Try checking on their paid-up capital when they started I’m sure they would have the same paid-up.

This is basically a smear campaign by the people affected by our project. They should understand that there are always more innovative, competitive, and better projects in the future that will benefit the clients. It is sad that there are people who would rather destroy Seibu Tower rather that just improve on their own project. I guess it is easier to do the former.

Thank you very much and I hope you will be guided correctly about the issue."

Hmm, very interesting response...although there are some mistakes, and also on their part, not enough research

An arrangement like this would definitely not work for a company like G&W because they are the Architect, Project Manager, and contractor in one.

G&W is the Architect and Project Manager

The General Contractor is New Golden City Builders, which is a separate company that is not related to G&W.

I agree that a separate Architect and Contractor will ensure that there is sufficient cross checking, and ensuring the quality of materials is up to standards.

However, the overall project manager and architect is often merged as one entitiy, because you need to know the building design intimately, to be able to manage the project.

However, I am not sure if the responder here knows the difference between a PROJECT MANAGER and a CONSTRUCTION MANAGER. B-T-O PROJECT MANAGER is G&W, but the CONSTRUCTION MANAGER is yet a different entity. The CM is a third party entity that surveys all the details, even the quantity of cement applied on site, and can also serve as a third party auditor to ensure fairness the Architect and Contractor relationship.

I think that there is a misunderstanding here which I would like to clarify...

I was not questioning the skill of Arch Albert Yu, in fact, I commended on how good he is. For a guy his age, and given the hardship of the architectural industry these days, he has a lot of projects under his belt, big projects at that too.

I am also not questioning the skill of CE construction. Owner of CE Construction is my fathers very good friend, and in fact they have worked together numerous times in the past.

However, unit owners are not signing with Albert Yu nor CE construciton directly. Legally speaking, it is Golden Forum Land Inc that each client is signing a contract with...

Therefore, what is in question here is the ability of Golden Forum Land Inc to be your overall project manager...not being an architect with the techinical know how, not being intimate with the design of the building, but wants to act as overall project manager with a project of this magnitude.

G&W Architects, before we attempted to be an overall project manager through the B-T-O projects have completed over 1,000 projects in the past.

I only started to respond in this thread because I wanted to correct a misconception for everyone. To make a long story short, I know what this can lead to, so from now on, I will limit my comments to corrections of incorrect information and direct questions to projects related to ours.

All I will say is: This is Golden Forum Land's first project and first crack at being an Overall Project Manager, rather than talk about differences here and there, I would rather just wait and see what the result of their first ever project will be.

I only started to respond in this thread because I wanted to correct a misconception for everyone. To make a long story short, I know what this can lead to, so from now on, I will limit my comments to corrections of incorrect information and direct questions to projects related to ours.

I am sorry if my posts may seem like a smear campaign to them. I only try to be objective and say things the way they are. my intention is to provide people of this forum objective information that they can use to make the proper decision.

The problem why the Philippine real estate slowed down for such a long time is because people do not trust the lack of information in buying properties here.

Now that the economy is starting to pick up, the real estate industry should start to voice out and inform the public about critical insider industry information...because if not, the public will then be again vulnerable to unscrululous players, simlar to the ones in the late 90s.

A recent visit to the USA, in California in particular, opened my eyes to how unscrupulous some players and non-licensed brokers can be. A certain project that is uncomplete for the past 10 years is being marketed there, like it is the newest and "hottest" project in manila. I went face to face with the broker and asked him why he is selling that project, when he knows that in the Philippines, people would not touch it with a 100 yard stick...he told me, because they are giving me double the comission!!!

I felt so horrible, that this person has no spine at all, and is so greedy that they will sell projects that are not completed just because they get a higer commission (typical wanting to get rich quick mentality)! It almost seemed like bribery of the developer to the broker!

This is the exact same mentality that can crush the current potential of the real estate industry in the Philippines! I sacrificed a great job and life in Boston to come back to the Philippines because I know it has hope and great potential...that is why I feel that public information, but objective information is part of my responsibility...if my comments are worng, please feel free to correct them, but do not dismiss them as smear campaign, and not point out OBJECTIVELY what fact that I stated is incorrect...I do believe that everything I said in the past posts are accuracte objective information!

This is basically a smear campaign...

Oddvertising...please send this message to the broker who sent this message, thank you!

Hello, I am very sorry if my actions seems like a smear campaign to you. I am here to make friends and help the general public understand the construction and housing industry more, and not to make enemies.

My concern really is that the industry is plagued with the lack of objective information.

We found out from our discussion with hundreads of brokers, is that many of them were told by their bosses one thing, and what was delivered is another thing. Professional Brokers are very honest individuals, but sometimes fall into the trap of committing to a client what the boss commits to them...but without looking at objective information, they are just "Taking the word" of their boss. Without really being objective and looking into contract details, these mis-information cannot be solved. Given that you as the broker is the one who is directly facing the client, you are the one who is risking to lose your credibility.

I hope you don't take my comments as challenge to your credibility, but as extra information you can use to verify if the project you are working hard for is indeed a credible one.

An example is your claim that GFLI cannot at anytime authorize payment to itself...but can instruct payment to the contractor. This seems very iffy, and unrealistic to me. Is this something that is written in the contract? If so, what will stop the proprietors from routing payments of the contractor to themselves? The project is 3 years long, and you expect the company not to have any single income for the next 3 years while maintaining overhead and advertising expenses in the millions per month?

This is why I personally am the one representing the our company, as the son of the owner of G&W, to not just give promises, but also have objective response and examples for anything that we claim. Give committments to our clients that came straight form our company.

Gibson, For what it's worth I did not sense any so-called "smear campaign" verbage in any one of your postings in this thread. Infact, I know you try your best to be professional by remaining impartial and unbias, by stating the facts as you see them and even supporting your argument by expounding on them to give readers a clear understanding of the situation at hand. This is an open forum and you are just stating your opinion and probably the truth just hurts in this case. Anyway, looking forward to reading more of those postings of yours in the other threads. :)

Gibson,
In all,I find it its with in the professional line the way you've explained some major differnces between the two BTO schemes, and the I think the questions that were raised here are what the prospective buyers should ought to know and be aware of anyway.
As a client , I apreciated very much your valuable inputs and your sharing of some inside information about the on going developments there in BGC. Thanks Man.

Let us know what happens at the coming re-launching of the Globalcity city center. Thanks.

Hi Gibson,

I was out of station for a week and just saw your reply. I'll send your reply to the broker.

I posted the reply not to antagonize you or anybody but just as an additional information for anyone following this thread.

Thanks for the questions you have raised and information you have shared, buyers will be better informed before making a decision.

Hi Gibson,

I was out of station for a week and just saw your reply. I'll send your reply to the broker.

I posted the reply not to antagonize you or anybody but just as an additional information for anyone following this thread.

Thanks for the questions you have raised and information you have shared, buyers will be better informed before making a decision.

Thank you...I appreciate that you posted the response. I am actually curious as to how they justify to their clients when these things get said about them. This give me a clearer understanding as well, and is very informative. Not antagonized at all :)

I just wanted to make sure as well, that the people who are working there, who are also professionals in the industry does not thing that things I say as there to pick a fight, on the contrary, I want to share what I know in the industry to make friends.

Hello RealtorManila.
Since you've been concentrating your realestate efforts in FBGC, I'm just wondering what info you may have been able to gather regarding this Seibu Tower project? Is there anything you may be able to share with us regarding this project? Info is quite scarce and hard to come by on this project kasi eh so once again we're hoping you can help in that department. Many Thanks. :)

Hello RealtorManila.
Since you've been concentrating your realestate efforts in FBGC, I'm just wondering what info you may have been able to gather regarding this Seibu Tower project? Is there anything you may be able to share with us regarding this project? Info is quite scarce and hard to come by on this project kasi eh so once again we're hoping you can help in that department. Many Thanks. :)

Honestly, I don't have news about this Seibu Tower. What I know is that some of the company officers had a road show in Switzerland last June.

Top-of-the-world living at Seibu Tower

The Philippine STAR 07/14/2006

The unique and exhilarating feeling of living on top of the world with a sweeping view of its beautiful and vast surroundings is in store for homeowners who will acquire units at Seibu Tower, a luxury residential condominium which will soon rise in Bonifacio Global City in Taguig City.

Located on 6th Avenue corner 24th Street in the heart of the metropolis’ fastest-growing commercial hub, the 27-story, ultra-modern residential project managed by Golden Forum Land, Inc. features in all its corner units a 270-degree panoramic alcove window that affords an unlimited view of the metropolis.

Depending on each unit’s orientation, lucky homeowners can get a spectacular vista of the nearby Manila Golf and Country Club, Makati City skyline in the west, Laguna de Bay in the east and Pasig City’s sprawling environs.

A dream-come-true for unit owners, access to viewing these fabulous sceneries is Seibu Tower’s best and most exciting feature which, in the words of its multi-awarded principal architect-designer Albert Yu, is "an architectural landmark that binds man with his environment."

Seibu Tower is considered as an ideal home for the family or for young urban professionals because of its accessibility to commercial and leisure spots like The Fort Strip, a number of first-class malls, big restaurants, gyms and spas and other major retail establishments.

It is just minutes away from the central business districts of Makati and Ortigas Center as well as the Ninoy Aquino International Airport via Epifanio de los Santos Avenue or C-5 Road, while major educational institutions and banks are also within easy reach.

To provide the ultimate convenience and comfort to its residents, the first three floors of Seibu Tower have been designed to house commercial and retail outlets, such as a salon and a café.

Residents can also enjoy the condominium’s 30-meter-lap swimming pool, kiddie pool, bubble and jet spa, jogging trail and well-manicured garden.

All these amenities, plus a four-story basement, 24-hour security and automatic fire alarm and sprinkler systems, translate into luxury living at Seibu Tower, yet it fetches an incredibly reasonable and affordable price tag that is almost half that of its neighboring condominium projects.

At P48,000 per square meter, a 41-square meter single-bedroom unit at Seibu Tower costs only P1.9 million and, when furnished with such fixtures as dropdown ceiling, flooring and cabinets, its price can increase minimally by only P10,000 per square meter.

Also available are two- and three-bedroom units with floor areas ranging from 72 to 118 square meters. Select units come with a balcony that is ideal for stargazing.

This remarkable value-for-money marketing feature of Seibu Tower is the result of the unique collaboration in the project of Golden Forum Land, Inc. as project manager, ASYA as architect-designer and C.E. Construction as contractor, considered a "first" in the property industry.

With the combined expertise, experience and resources of ASYA and C.E. Construction solidly behind Golden Forum Land, Inc., Seibu Tower is expected to be a runaway hit in the condominium market.

(Seibu Tower model units are available for viewing at Golden Forum Land, Inc. at 31st St. corner 2nd St., Bonifacio Stopover, Global City, Fort Bonifacio, Taguig City. Inquiries and appointments may be made through tel. nos. 637-7817/0918-9233156/0917-8016804/0917-8438154).


http://www.philstar.com/philstar/BUSINESS200607166506.htm

ok so much with the bad comments about this project. :D we might end up dishearthening those who already bought units here. just like what happened to the Forbes Town Heights.

The pros of this project...

Small cuts, can buy a 41 sq m unit.
Not so pricey for a FBGC property
The 30m lap pool. Does this mean that the length of the building will be over 30m? This will look more like an office tower's length. :D

The cons

It says 'unlimited view of the city' - this should not be confused with the word 'unobstructed'
Top of the city should mean you feel like you're above the rest...Taller than One McKinley and Pacific Plaza Towers.

All the other features seem to be present among decent projects around. Sigh...what could be the best selling point of this project?

<deleted>

na post na pala.. ehhehe

^^ Uhmmm... that article is already posted...

anyone who knows the on going project @ the FORT?

Hello!

Project is 40% sold already (They started marketing the project in March 2006).

Ground breaking is on December 2006.

No other news.

It is postings like those above that really makes me glad to be part of the SSCF family. I just love the educated, sincere and informative postings of the forumers.

As for the limited view of the "city", I am kind of confuse. Which city is it, Makati, Taguig or Global? From the Google Earth map I composed with markers, Seibu stands strategically and close to the main circle of the Fort. It is also far from the other towers, both constructed and u/c.

Probably good investment... Anyone knows the contructors or sellert homepage? Or the availability?

Oh.. sorry guys, didn't see relator-manila's post a bit higher.. Got the information from there :0)

The enclosed area at the upper portion of the picture is the site of Seibu Tower.

The white structure (lower portion) is The Icon Showroom.

Picture taken Dec 4, 2006.


http://i71.photobucket.com/albums/i143/cynchyap/BGC%20-%202006/IMG_0446.jpg

Eto naman yung site from the ground-level view.

01.05.07
http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_010507_004x.jpg

Probably good investment... Anyone knows the contructors or sellert homepage? Or the availability?

I also invested in a unit in Seibu. Website is http://www.seibutower.com

I am also an agent (independent). if you are interested, please PM me. Thanks.

now i understand the 270° selling point of this project. this is a viewing part of the unit where you can see all 270 degrees of the backdrop.

was groundbreaking carried out last December? A January 5 Philstar issue features this project telling about the groundbreaking.

Yes, groundbreaking was carried out last December but the actual construction is scheduled to start by end of Jan 2007.

Exchange Regency design is by Architect Albert S. Yu of ASYA Design. Is this the same ASYA of Seibu Tower??

Maybe they plan to do another Seibu type of marketing? :nuts:

Speaking of Seibu Tower any updates on this FBGC project? Nag-umpisa na ba ang project na to?

I took this picture last Feb 27 --- There's still no movement at the construction site. (Seibu's site is located at the lower right hand side of the picture).

http://i71.photobucket.com/albums/i143/cynchyap/BGC-2007/IMG_1159.jpg

^^ Yikes not a good sign. Still no action up to now. Tagal na to ah. Sold out na ba? :ohno:

Yes, groundbreaking was carried out last December but the actual construction is scheduled to start by end of Jan 2007.

mukhang di pa sold out kasi they still have booths in Megamall for this project..

27-story, with 270 degrees panoramic viewing area in all corners.. will rise on 27th Avenue with view of the Manila Golf.. available in 1, 2 and 3 bedrooms..


My broker gave me the following info:

Project Manager : Golden Forum Land, Inc.
Construction : C.E. Construction
Turn-over Date: December 2008

I took this picture last Feb 27 --- There's still no movement at the construction site.

^^ Yikes not a good sign. Still no action up to now. Tagal na to ah. Sold out na ba? :ohno:


from the looks of it i seriously doubt that they can meet the Dec 2008 turnover

^^ Yup I think so too Lauren.

They claim to be 80% sold already.

I remember they're supposed to have their ground breaking Jan 2007. I don't know what happened.

I think they will start to dig soon... currently the lot at the back of the Icon Showroom.. which is just across Seibu... construction houses, those that are made of trailer vans are there already... maybe they're just preparing for construction..

This looks familiar to me. Bwahahahahahahahaha!

^^ Sounds familiar, eh? hahaha

I think they will start to dig soon... currently the lot at the back of the Icon Showroom.. which is just across Seibu... construction houses, those that are made of trailer vans are there already... maybe they're just preparing for construction..

Looks like they started for some time na. Pic taken from Net1. http://i171.photobucket.com/albums/u288/mrlarryb/picseibu.jpg

good news! ng start na pala. nice location too. thanks for the update.

[QUOTE=hyperfocal;7794473]howdy neighbor midsunset! Your estimate is way off... got some quotes from my broker:

1 bedroom 40.67sq m - starts at approx P2M
2 bedrroms 75.71 sqm - P 3.8M
3 bedrooms 118.58 sqm - P 5.8

Is this quote fro real?

[QUOTE=hyperfocal;7794473]howdy neighbor midsunset! Your estimate is way off... got some quotes from my broker:

1 bedroom 40.67sq m - starts at approx P2M
2 bedrroms 75.71 sqm - P 3.8M
3 bedrooms 118.58 sqm - P 5.8

Is this quote fro real?

I think that was their quote when they started, my broker said they had a number of price increases since then, I should have gotten from them then.

Any news from thims project?

http://readyforoccupancy.com/Seibu_Location4.jpg

Sinagapore Embassy is the construction infront.

9 Reasons on why BGC is the best location for your condo investment

The growth in the Philippine real estate industry is very bullish! At the Bonifacio Global City alone, you can feel the good vibes for the industry!

I have compiled here several news articles from major Philippine broadsheets (ie, Philippine Daily Inquirer, Philippine Star, Manila Bulletin, Business World, Business Mirror) regarding the ongoing and future developments at Bonifacio Global City (BGC/aka Fort Bonifacio.)

All these reinforces the idea that Bonifacio Global City (BGC) is the best location for your condominium investment!

1) The construction of the St. Luke’s Hospital is full-blast. Based on news reports, St. Luke’s Hospital will be finished by 2009.

Fort Boni Consultancy (FBC) Comment: Admittedly, this is a relief - construction of the hospital was delayed for more than a year!

The presence of a first-class hospital at Bonifacio Global City will further strengthen its bid as a new Central Business District (CBD) in the Philippines.

2) The Philippine Stock Exchange (PSE) said that its board has authorized the management to enter into a memorandum of understanding with two property developers for a joint development of the bourse's headquarters in Fort Bonifacio in Taguig City.

Actually, a 2,182 sqm lot has already been donated by the Fort Bonifacio Development Corporation to the PSE. However, they can swap this lot for office spaces which will be equivalent in value that Ayala Land will construct at the BGC area.

FBC Comment: Good news indeed! Currently, the PSE has 2 trading floors, one in Ortigas Centre (ie, Philippine Stock Exchange Centre, formerly called Tektite Towers) and another one at the Makati Central Business District (ie, Ayala Tower One at Ayala Avenue).

The presence of a unified trading floor will really make Bonifacio Global City (BGC) a true-blue Central Business District.

Ayala Land may construct an office tower at BGC equivalent to the Ayala Tower One at Makati City and turn over the "x" square meters of office space to this unified exchange.

I've heard that this might happen in 2010. It's about time!!!! Let's see!


3) The Ascot Group of Singapore, the hotel group which purchased the former Oakwood Premier Hotel (at $ 54 Million) located at the Ayala Center, Makati City, is considering the Bonifacio Global City as one of the locations of their hotel operations. No specific details were provided.

FBC Comment: At the moment, there's no hotel at the BGC. I'm really looking forward to this new development!

4) SHIMAO Group, a developer owned by China's fifth-richest man, Xu Rongmao, will put up a hotel at Fort Bonifacio.

Shimao International Holdings Ltd Chairman Hui Wing Mau has signed an agreement to lease at least one Manila property from state-controlled Bases Conversion Development Authority, Trade Secretary Favila said. The property, which covers at least seven hectares, is in Manila's Fort Bonifacio district, Favila said, declining to provide more details.

FBC Comment: Good news! Just imagine how many jobs this can provide!

I believe that aside from the Ascot and Shimao Groups, there are also other hotel groups which are "silently" exploring the BGC area.

5) American business process outsourcing provider PeopleSupport Philippines, Inc. has acquired a 2,700-square meter lot in Taguig from the Fort Bonifacio Development Corp. (FBDC) as part of its plan to expand its operations in the country.

Company President Rainiero Borja said the property will house a 25-storey call center building.

PeopleSupport expects to break ground this year, Mr. Borja said.

FBC Comment: The Business Process Outsourcing (BPO) industry in the Philippines is indeed growing. Honestly, the current supply of office space is not enough to meet the needs of this industry.

Most office buildings now at the BGC are occupied by these BPO companies.

6) Singaporean company invests P2b for IT building

Singaporean real estate developer Ascendas and the Net group, a consortium led by the Rufino Group, are infusing P2 billion to construct a new office building designed for business process outsourcing companies and call centers at the Bonifacio Global City in Taguig.

Ascendas president and chief executive Chong Siak Ching said the construction of the 36,000-square meter Net Quad, the fourth in the series of boutique Net buildings, was in response to the growing demand for high-quality business space in the Philippines amid a boom in call center and BPO sector.

Carlos Rufino, president of the Net Group, said the Net Quad building had been 100 percent leased out even before its groundbreaking ceremony yesterday attended by Singaporean President Sellapan Rama Nathan.

FBC Comment: This group has practically dominated the construction of office buildings at the BGC. There's Net One, Net Square, Net Cube (under construction and will be finished this 2007) and the latest is Net Quad.

According to some insiders, this group will be constructing buildings up to Net 8!!!!

7) Federal Land to complete master plan for northern part of Fort Bonifacio

Federal Land, Inc. tapped global design firm Hellmuth, Obata & Kassabaum, Inc. (HOK) International Ltd. to complete a master plan to develop the northern part of the Bonifacio Global City in Fort Bonifacio.

In a statement, Federal Land President Alfred Ty said the master plan covering 25 hectares in North Bonifacio is expected to be completed in 15 weeks. It will consist of a 10.4-hectare property owned by the country’s largest lender Metropolitan Bank & Trust Company (Metrobank) and two lots totaling 15.3 hectares of state-owned Bases Conversion and Development Authority (BCDA).

FBC Comment: I heard that Federal Land will be putting up an office building targetting the BPO industry.

8) Science museum to rise on former military base

THE AYALA Group will be putting up a science museum at the Bonifacio Global City, to bring to it a measure of art and culture.

Officials said during the launch of Bonifacio High Street late last week that the science museum, which is still in the early planning stages, will be located across the group's upscale Bonifacio High Street development--a kilometer-long strip of chic shops and restaurants a stone's throw away from The Fort and Market! Market!

FBC Comment: This will be really cool! On the other hand, I'm also looking forward to an Art Museum at BGC - something similar to the Metropolitan Museum of Art at Manhattan!

9) 3 Developers keen on Big Delta property in BGC
THE THREE GROUPS ARE TARGETING PRIME LOTS
FOR BIG COMMERCIAL DEVELOPMENT

THREE international developers have expressed interest in the 1.2-hectare Big Delta property inside the Bonifacio Global City (BGC) which the Bases Conversion and Development Authority (BCDA) did not manage to dispose last year due to a failed bidding.

Aileen Zosa, vice president for business development of the BCDA, refused to reveal the names of the three firms, although she said these groups are targeting the prime lots for grand commercial development.

One of these firms, she said, is planning to build a six-star hotel there.

The Big Delta property, located inside the BGC’s City Center, is being offered for lease or joint venture development with the BCDA, she said.

FBC Comment: Looking forward to this "grand commercial development" at Big Delta!

Bonifacio Global City (BGC) is poised to be the next Central Business District (CBD); it is a master-planned CBD and based on these new developments, condo buyers and investors will defintely benefit in the property value appreciation at BGC.

Hands down, Bonifacio Global City (BGC) is the BEST CHOICE for your property investment!

FILIPINO, LET’S HELP OUR COUNTRY MOVE FORWARD!


from
http://www.fortboniconsultancy.com/blog/index.php?page=3

what kind of tower it is?? commercial? residential??

kelan ba dapat ang turn over nito?

what kind of tower it is?? commercial? residential??

The first 2 floors are commercial spaces, while the upper floors will be residential units.

Any updates on Seibu Tower?
Has it been SOLD OUT?

http://i71.photobucket.com/albums/i143/cynchyap/BGC-2007/IMG_2134.jpg

http://i71.photobucket.com/albums/i143/cynchyap/BGC-2007/IMG_2096.jpg

Bagal tumaas nito.

Bagal tumaas nito.

Hello @geebeng. How big is Seibu Tower's lot? It looks so small for a condo unit, unless otherwise all the amenities are indoors. Thanks in advance for any info you'd share. Regards!:) :)

ang "cute" ng condo na ito. parang cityland condo :lol:

Thanks for the update on Seibu Tower project! :banana:

Is that the "Bonifacio High Street" pople refer too?
Is that the same as the "Promenade" I see on some articles?

WOW! grabe one year ago wala pa yan.
Exciting - Fast Developments sa FBGC

http://readyforoccupancy.com/BHS_Location.jpg

I got this when I was inquiring about this project.

http://readyforoccupancy.com/Seibu_AA.jpg


http://readyforoccupancy.com/Seibu_A.jpg


http://readyforoccupancy.com/Seibu_B.jpg


http://readyforoccupancy.com/Seibu_C.jpg


http://readyforoccupancy.com/Seibu_D.jpg


http://readyforoccupancy.com/Seibu_E.jpg

Thanks for the update on Seibu Tower project! :banana:

Is that the "Bonifacio High Street" pople refer too?
Is that the same as the "Promenade" I see on some articles?

WOW! grabe one year ago wala pa yan.
Exciting - Fast Developments sa FBGC

http://readyforoccupancy.com/BHS_Location.jpg

^^ That's the one Rick and that's only half of it. The other half stretches up to (even pass) 5th Ave. Amazing isn't it? :) :) :)

Very Exciting! :banana:


http://youtube.com/watch?v=UKRTRhOtacE

Really Amazing!

I am so looking forward to see this in person.
1 more week before my vacation in PI.

Can't wait... :banana:

^^ Lucky Lad. Enjoy! :)

PS: You might want to checkout/join the FBGCitizens thread in the Samahan subsection. There are a few other fellow vacationers (balikbayan) arriving and I'm sure they're already planning something in and round Fort Boni. You might want to join them if you have the time. They're very cool and nice fellows like yourself. :) :) :)

Here's the link to the thread:
http://www.skyscrapercity.com/showthread.php?t=465909&page=22

http://www.readyforoccupancy.com/ST-1.jpg

http://www.youtube.com/watch?v=Kf56pMlJj_E



http://www.youtube.com/watch?v=KYcwAvQETHo




^^ :banana: :banana: :banana: :banana: :banana: ^^

http://www.readyforoccupancy.com/GH2-7.jpg

http://www.readyforoccupancy.com/Seibu_F.jpg

Featured on Blu Print Magazine

Anybody have news regarding this project? Or any unit owner participating in this thread?

I was just on their site yesterday (Thursday July 12, 2007) and noticed that the excavation is not yet complete...but yet there were no backhoe present to do the work? This is quite disturbing because an excavation contractor won't just pull out their equipment in the middle of work.

Maybe they were fired kasi they were to slow hehe

O boy! This project really does look like Cityland.

Maybe they were fired kasi they were to slow hehe

O boy! This project really does look like Cityland.

Yeah, maybe.

Just weird because we were wondering why a tower crane has not been erected yet, since they started excavation for quite some time already...that is why I went to check it out an see what's up. I remember that they committed before to deliver on December 2008, this 27 storey structure...and yet it is already mid 2007 and the excavation has not been compelted yet.

The Bonifacio High Street is really nice but they should have more of a covered walkway along the outside of the buildings.

The Bonifacio High Street is really nice but they should have more of a covered walkway along the outside of the buildings.



they do have enough IMO... for more on Bonifacio High Street check out this thread... http://www.skyscrapercity.com/showthread.php?t=469682&page=17

http://www.readyforoccupancy.com/Seibu_G.jpg

http://www.readyforoccupancy.com/Seibu_H.jpg


Just like the energizer bunny... and they're still digging and digging and digging... :lol:

I guess its good that they are still digging...

http://www.readyforoccupancy.com/ST-1.jpg

http://www.readyforoccupancy.com/Seibu_H.jpg



not much, IMO, after a month and a half (between the 1st and the 2nd picture)... but then again, you're right... at least they're digging, digging, digging

Based on the pictures of the ongoing excavation of the project, honestly, the pace is very slow. I know they started with the excavation February or March, and obviously, there's very little accomplishment.

Actually at a normal pace, this project should have its foundation already (ie, concrete foundation).

Yeah, maybe.

Just weird because we were wondering why a tower crane has not been erected yet, since they started excavation for quite some time already...that is why I went to check it out an see what's up. I remember that they committed before to deliver on December 2008, this 27 storey structure...and yet it is already mid 2007 and the excavation has not been compelted yet.

Gibs, know what I think ? It's going the way of Chateau de Noble Tower - dead end. Does anyone have any info about the sales of the units in this condo? I can't imagine this condo can compete with the rest in BGC. I agree, it look like a Cityland designed building. Even The Infinity looks better.

Well, I know there are other issue with Chateau de Noble, and they returned people's money...I don't know if the situation will be identical, since this group has already spent the client's money and paid it out to various brokers and contractors...I doubt they would have the money to return to people.

I remember before I had a "discussion" with a marketing person in this thread, don't know if it is still here, but they claimed a completion date of december 2008....same with Grand Hamptons 2. This was sometime early to mid 2006 when they started markting, together with grand hamptons 2.

As of today, they haven't completed excavation at all...Grand Hamptons 2, to make its deadline in 2008, is already on the 3rd floor of construction, and have 5 basements completed already.

I just think that it is wrong, what is being done to the unit owners of this building...they were mislead from the beginning, and somehow many people were still buying, not knowing the facts. Now the best case scenario for this building is a delayed completion.

^^ i think their low price was a huge come-on for those who invested here... if i remember right, they were one of the cheapest... let's just keep our fingers crossed on this one because i'd hate to see an unfinished building rotting away in BGC... it's gonna be quite unsightly

^^ i think their low price was a huge come-on for those who invested here... if i remember right, they were one of the cheapest... let's just keep our fingers crossed on this one because i'd hate to see an unfinished building rotting away in BGC... it's gonna be quite unsightly

Hope that won't be the case...

Are the units sold-out? If not, can anyone pm me the prices and the payment schemes? Thanks! :)

Are the units sold-out? If not, can anyone pm me the prices and the payment schemes? Thanks! :)
Been told na about 85% sold-out as of last week. Nasa link below ang sample price list. As far as construction status, according to to Golden Forum Land (project manager/developer) tapos na ang excavation at start ng buhos sa August 8. On track sa scheduled turnover date of Dec 2008. I hope this helps.

http://realtyph.wordpress.com/2007/07/27/seibu-tower-bonifacio-global-city-philippines/

On track sa scheduled turnover date of Dec 2008. I hope this helps.

http://realtyph.wordpress.com/2007/07/27/seibu-tower-bonifacio-global-city-philippines/

Hmm, this information must not be updated...From a technical point of view, I am sure that it is impossible for them to complete this tower by December 2008, even if they start with the first cement pouring in August 8, 2007.

The info may be a bit off since it’s been a couple of weeks. Could they have meant top off date versus turnover date? If anything, you can go straight to the developer to clarify completion or turnover dates – they should know more than anybody else, since it’s their project. They seem to be helpful, nice and easy to deal with.

Yeah, better ask them, I think the website link above is not their official website. I checked their official website but they did not mention anything about their completion date anymore in their press releases. Only that their substructure work should have started last June.

http://www.readyforoccupancy.com/Seibu_Ia.jpg

http://www.readyforoccupancy.com/ST-2.jpg

What is happening with Seibu?

Wala bang pics? What is the construction progress?

Bakit sa picture ni Ric, eh parang nasa fourth basement level (lowest level) pa rin sila?

Sabi ng President, they expect to be in the ground level daw by December 2007. Kakayanin ba? Parang ma-dedelay. Any new pics?

It seems that SSCers are not very interested in Seibu.

It seems that SSCers are not very interested in Seibu.


keypool, the first page of this thread explains why.

plus this reply from exacc that read...

I would stay away from Seibu...I have the company profile and did my research about this comany...its basically a new company, with no experience in becoming a developer. In their company profile, they even mentioned a few notable things, which I don't know why they would put it there...

1) They are a company with a small capital
2) They were incorporated in 2003, with only 1 project in its belt, which is the 2-storey "Forum" commercial for lease building. I've seen this project, and it is one of the cheapest constructed structure in BGC.

I will scan the company profile and post it here soon.

I am in the market too, and had my broker search the SEC papers of this company...it turns out their paid up capital is only Php 67,500 and they are a development company...makes me wonder how easy it is to be a developer here in Manila. With my reservation fee, I wold double their company size. Also, I have a feeling that the property the projects is being built on is mortgaged to Manila Bank...it says so on their agreement with Equitable Bank.

The documentation is also a bit weird. I reviewed the Depository and disbursement agreement of Banco De Oro (with G&W projects), and it is a direct agreement between me as the client and the bank to protect my money. I was told, with thie agreement, it is similar to me opening a bank account with Banco De Oro. When I looked at the Equitable bank agreement (Golden Forum Land Inc "GFL"), it is a tri-partite agreement...I consulted my lawyer, and he said, it is like I am opening a joint account with GFL who will have as much right to my money as I do...so in a way, effectively it is similar to no protection at all.

Anyway, I went to their launch in the NBC tent. The program lasted about 15 minutes, with Arch Albert Yu and Harvard Yu speaking, it was riddled with Fil-Estate brokers and a lot of megaworld brokers trying to act as clients getting info! I actually thought that their company is the same with G&W, but later on it was clarified by my broker that G&W is a completely different company with no relations to the Yus of GFL. I felt like I was almost mislead by this company, as all their brokers keep on saying it is just like G&W.

http://farm3.static.flickr.com/2327/1883965572_ac8f4a601b_o.jpg

update by franzlouis - Flickr (http://flickr.com/photos/18438482@N06/)

ohhh mmmmyyy... potential problem along the way. Its so frustrating to hear that considering the strong perfomance of the real-estate, there are still questionable projects around.

http://farm3.static.flickr.com/2327/1883965572_ac8f4a601b_o.jpg

update by franzlouis - Flickr (http://flickr.com/photos/18438482@N06/)


ito ba yung ita-turnover ng december 2008? malapit na ang dcember 2007 mas mataas pa rin yung bakod na yero sa paligid kesa sa building :(





.

I actually peeked dun sa bakod a few days ago.

What I saw surprised me. Parang nasa basement-3 pa lang sila i.e. mga 3 levels down pa sila before umabot sa ground floor. Sa tingin ko, malabo ito umabot sa ground floor by December 2007 as said by their president. I hope i am wrong.

Very interesting coments above. I wonder how the progrees is going now.
How many units are sold out?

http://farm3.static.flickr.com/2327/1883965572_ac8f4a601b_o.jpg
update by franzlouis - Flickr (http://flickr.com/photos/18438482@N06/)

I actually peeked dun sa bakod a few days ago.

What I saw surprised me. Parang nasa basement-3 pa lang sila i.e. mga 3 levels down pa sila before umabot sa ground floor. Sa tingin ko, malabo ito umabot sa ground floor by December 2007 as said by their president. I hope i am wrong.


^^Uh Oh still a hole up to now? Not a very good sign. I feel bad for those who have invested because the progress is so slow and one can't really see where their payments are going. I hope it does not become like Jaka in Makati which was left unfinished and an eyesore. What does the developer have to say about it now? Any explanations about the delays? :ohno:

[CENTER]


http://www.readyforoccupancy.com/Seibu-30.jpg

CENTER]

I had been interested in a unit in this building some months ago. I subsequently received an email from the promoters of Seibu Tower to advise that the building was totally sold out and that they would soon be announcing a new development, also in BGC.

However, last week, I received further contact from the promoters advising that the unit I was thinking of purchasing in Seibu Tower was still available (and, implicitly, they were appearing to offer a very flexible payment plan) and the tone of the email was one of desperation in my opinion.

Anyway, no thanks - but I hope that it turns out fine for existing Seibu investors.

Yikes, maybe you can post the e-mail? To serve as warning here to other investors.

I would prefer not to post the email (however, I am content to disclose details of my interaction re a potential purchase in Seibu Tower to anyone offline).

I wouldn't want to sound alarmist (and, in practice, its normal for units in buildings that are sold-out to become available due to buyer default etc), but, when combined with some of the sentiment in this thread, it certainly did help to cement my view not to invest.

Looks to me from the pics that the building is already starting to rise - no need to be negative, it will develope ok. I remember many negative comments on the building i'm buying in but it's almost at top off now. The location of this building is very good and lots of potential buyers, it's gonna turn out fine.

mukang okay naman ang seibu, na-delay lang talaga ang start of construction. wala bang official photographer ang Seibu para ma-post ang update pics? :)

Ehem-ehem! May plano kaya silang kumuha ng official construction photographer? :D

^^ Better question is if whether they have a line item budget for that in their project budget. Mmmm... :|

Ehem-ehem! May plano kaya silang kumuha ng official construction photographer? :D


they better get one para mapag-usapan sila hehe and to prove to detractors that they're actually capable of delivering what's promised. :)

any new updates on this?

Any progress report or updated pics on Seibu? Just wondering if this project will hit ground level anytime soon.

Sa tingin ko, malabo ito umabot sa ground floor by December 2007 as said by their president. I hope i am wrong.

Just wanted to share a newsletter that was emailed to me regarding construction. Im glad theyre on track. I purchased a unit here last year and have been pretty happy so far with progress. I was backreading and read some negative sentiments on this thread. From a buyers perspective I went with this project for location, price, and turnover (along with the corner unit I have and its 270 degree view). Although the developer is relatively new, I am confident in their ability to deliver and have spoken to their President and upper management regarding this and they showed me their construction timeline. I also did my research on CE construction and ASYA design (architect), both are pretty well respected in their field with alot of worthy projects under their belts. Regadring the developer, I guess every company has to start somewhere, when I was younger launching my own business people questioned me also thats part of life. I guess what reassured me with Golden Forum is speaking with the President and upper management, they are very accomodating and willing to take the time to speak with you regarding anything about the project. As a balikbayan this is the kind of service you would want and expect. I have viewed ALOT of projects here at the fort, from Megaworld, Philtown, G&W, Fort Palm, Robinsons so I feel now have a pretty good idea of the area and the level of service to expect. Anyways, just wanted to post and be more active on SSC. I also am negotiating right now a unit at Fairways Tower. I have viewed the actual building and I must say the finishes in Fairways are quite nice. (and so is the price since its close to RFO, pretty expensive). Let you guys know if i buy there also. Thanks.
http://i171.photobucket.com/albums/u288/mrlarryb/January2008jpeg.jpg

I think this one will turn out a good investment.

Wow!
All of a sudden they stepped on the gas... ^^

Good News indeed...

Pic taken Nov 29
http://www.readyforoccupancy.com/Seibu-30.jpg


January Newletter
http://i171.photobucket.com/albums/u288/mrlarryb/January2008jpeg.jpg

^^ Many Thanks for the update! Good to see the progress! Ground/Street level na siya! :okay: :okay:

hello beautiful people of ssc and fellow fbgcitizens! any updates or pics on this seibu tower? would this make a wise investment? advice please. thanks in advance.

youtube finds...

XwaZSUgAcAI


x8zReKok_Wo
3-Bedroom

pLgFSSS2dnE
2-Bedroom

Pics taken Feb 1, 2008

http://www.readyforoccupancy.com/Seibu-31.jpg

http://www.readyforoccupancy.com/Seibu-33.jpg

TheRick to the rescue of pic update hungry ssc'ers!!! Thanks much @TheRick!!!!

It's appearing out of the ground - Nice! This is a promising project.

I checked on the site yesterday. It's up to the 2nd level now. The agent told me this building will be finished by June 2009.

Good investment kaya ito? Still thinking whether to buy this one. This is one of the cheapest condos in Fort Boni. The only thing that worries me is how come they still have several available units when it's being sold for over a year already? It's already at a cheap price which means that units should've been snapped up ages ago.

Just thinking out loud. Considering that BGC will be a future commercial area - For its price, Seibu might be a more attractive place for future office workers to rent, than say in another pricier condo. But that's just my thinking. Tama ba yung logic? Hehe

IMHO, I think kaya mas matagal ang take-up ng projects like Seibu is becoz it's from a lesser known developer. People nowadays trust big name developers like megaworld, ayala, century and RLC. Or at least yung may na-prove na at nakapag-deliver na just like G&W. pero pag new player, medyo wary pa ang investors. and you can't blame them. it's hard-earned money after all. just my 2 cents.

Taken last Valentines Day...

02.14.08
http://i20.photobucket.com/albums/b210/ofngol/2008/DSCN0843x.jpg (http://s20.photobucket.com/albums/b210/ofngol/2008/?action=view&current=DSCN0843x.jpg)

http://i20.photobucket.com/albums/b210/ofngol/2008/DSCN0838x.jpg (http://s20.photobucket.com/albums/b210/ofngol/2008/?action=view&current=DSCN0838x.jpg)

Taken last Valentines Day...

02.14.08
http://i20.photobucket.com/albums/b210/ofngol/2008/DSCN0843x.jpg (http://s20.photobucket.com/albums/b210/ofngol/2008/?action=view&current=DSCN0843x.jpg)

http://i20.photobucket.com/albums/b210/ofngol/2008/DSCN0838x.jpg (http://s20.photobucket.com/albums/b210/ofngol/2008/?action=view&current=DSCN0838x.jpg)

why are the pictures like that aaron, what did you do last valentines?:lol:

^^ Are you insinuating that I made love with myself, hence the shaky pics? :naughty: Haha, you don't have to ask actually, I think everyone here knows that it's my addiction. :D Ooops! Too much info. :colgate:

Last Valentines? Dinner lang sa BGC kasama si mama at papa (wala akong kapatid eh) sa Trinity Seafoods at the Fiesta! Market! of Market! Market!, Alimango at Kuhol tapos Halo-Halo ng Razon's of Guagua dun din sa Fiesta! Market! ng Market! Market!.

youtube find... It was posted 2 weeks ago...


JrBXWZw0k3s

^ Looking busy! Is that the owner in white?

does anyone know if there are still units available in this condo project? thanks.

does anyone know if there are still units available in this condo project? thanks.

From what I've heard it was sold out already but like other projects there are re-opened units that became available.


^ Looking busy! Is that the owner in white?

Yes he is the owner.

Just wanted to say thanks.. this SSC forum is very helpful and informative..

Good Job..

youtube find... It was posted 2 weeks ago...


JrBXWZw0k3s

This video would have been better if the management are wearing Hard Hats. All the workers are wearing one and they are in a construction site.
Show by example.. just my 2 cents.

^^ Oo nga naman, just like when I shot onsite for Blue Sapphire, sir Ryan and I wore a hard-hat even if it's quite big for me at parang malalaglag sya minsan habang naglalakad pag hindi inayos.

"Sir Ryan and I..." uy Aaron, part ka na nang management ng G&W? hehehe...biro lang. dapat talaga may hard hat. di ba me nakalagay diyan - hard hat area. the management should set a good example. huwag yung tipong - "manager naman ako ah!"

Lobby
http://www.readyforoccupancy.com/Seibu-35.jpg


http://www.readyforoccupancy.com/Seibu-36.jpg


http://www.readyforoccupancy.com/Seibu-37.jpg


http://www.readyforoccupancy.com/Seibu-38.jpg


http://www.readyforoccupancy.com/Seibu-39.jpg


http://www.readyforoccupancy.com/Seibu-40.jpg



Spa and Gym
http://www.readyforoccupancy.com/Seibu-41.jpg


http://www.readyforoccupancy.com/Seibu-42.jpg



Function Room
http://www.readyforoccupancy.com/Seibu-43.jpg

I think there are still some units available here.
Might still the lowest priced condo per/m in BGC.

^^ Naked ladies aside, very nice interior rendering proposed for the Seibu project which I would hate to see "Value Engineering" ruin. I sincerely hope the proposed architectural details as well as choice of materials and furnishings remain true to form and intact when the Seibu project finally comes to fruition. :okay: :okay:

I hope they really do great on this project.

Its their 1st project in BGC - If they hit a home run on this they would easily sell their other future projects...
Its in a good location too... This could be another project worth the risk...

It might still be the lowest priced condo in BGC even though it started its pre-selling since late 2006...

^^ Sana nga Rick that in the end of the day, they will be able to prove their detractors wrong and show that they can already play with the big boys. And now that Seibu is rising already, hopefully construction pace will pick-up even further. Oh yeah I almost forgot about this project being probably still the lowest priced condo in BGC. This could very well be another one of the last sleeper projects in BGC where investors can make good money/return provided they are willing to take the corresponding risk of dealing with the newbie co-developers of the Seibu project. Like they say the greater the risk, the greater the reward di ba... Good Luck and God Bless! :)

They said they started working on the 5th floor...


http://readyforoccupancy.com/Seibu-44.jpg



http://readyforoccupancy.com/Seibu-45.jpg

aaron, i think it's time to save up for a tripod :D

Nah, I actually have two now. Dala ko naman yung tripod nung nagpunta kaming BGC eh, iniwan ko na lang sa kotse kasi hassle lang masyado dalhin kasi baka pagbawalan na naman ulit ako ng mga BGC parak sa pagkuha ng pic. I'm planning to get a mini-tripod, or maybe the really small gorillapod para di masyadong obvious next time na kumukuha ako ng BGC pic. Kung may gustong magreregalo ng gorillapod, why not?!! :jk: Hindi ko yan tatanggihan! :D <<<--- Uy, nagpaparinig. :lol:

taken by jessie reyes from flickr.com on 3/30/08 - 4/01/08

http://i9.photobucket.com/albums/a91/EnozAnewor/jessiereyes05.jpg
http://i9.photobucket.com/albums/a91/EnozAnewor/jessiereyesfbgc04.jpg
...

Great photo! thanks so much for the update. Great seeing One Mckinley and Pacific Plaza in the background.

Wow! Super prime pala location ng Seibu!

I think its a sleeper project - they still have units that are around 60k - 70k/sqm (Bare)...
Pretty good price for a condo in the BGC area...

After reading GW's bad feedback lately combined with seeing the Seibu project finally above ground and rising, I would have to agree that this is indeed one sleeper project especially at the bargain price of P60-70T/SQM, you mentioned. That's a steal considering BGC's high-end projects/developments are at the P100+T/SQM range already. This also makes the Seibu project priced lower than San Jose Builder's Fort Victoria and GW's BTO projects. Definitely worth exploring/looking nga!

So can this be completed by December of 2009?

^^ Considering bare units naman and the building smallish in height, I would think it is very possible to meet the Dec.2009 turnover provided of course construction activity level is kept on pace with the said target turn over date. Of course that is a "Big If" since the builder has not yet proven itself it can and we also don't have much past performance history to go by.

updates:

34 units left

bare units delivery - 1st quarter of 2009
finished unit delivery - 2nd qrtr. of 2009

now on its 8th floor construction

payment scheme quite stiff because it's near delivery but still price is cheaper 77k/sqm

payment scheme:

1. spotcash with 10% discount
2. 50% outright downpayment with 7% discounts 50% balance
payable in 2 or 3 years,
3. 30% outright downpayment with 5% discounts,
70 % payable in 3 years all zero percent

all interest free.

assoc dues: 62-65/sqm

updates:

34 units left

bare units delivery - 1st quarter of 2009
finished unit delivery - 2nd qrtr. of 2009

now on its 8th floor construction

payment scheme quite stiff because it's near delivery but still price is cheaper 77k/sqm

payment scheme:

1. spotcash with 10% discount
2. 50% outright downpayment with 7% discounts 50% balance
payable in 2 or 3 years,
3. 30% outright downpayment with 5% discounts,
70 % payable in 3 years all zero percent

all interest free.

assoc dues: 62-65/sqm

Thanks for the update...

Last time I heard was 46 units left...
You are right the payment plans are kinda stiff specially when you compare it to Robinsons or Megaworld's paymant plans...
But its turnning over next year - I estimate maybe 2nd Quarter instead of the 1 st...

The 77k/sqm that is for finished units?
I had a spreadsheet (maybe out dated) around 67k-70k/sqm bare and around 77k-80k/sqm finished...
Probably the lowest priceed in BGC today.

Taken 24-Apr-08
http://www.readyforoccupancy.com/Seibu-46.jpg

updates:

34 units left

bare units delivery - 1st quarter of 2009
finished unit delivery - 2nd qrtr. of 2009

now on its 8th floor construction

payment scheme quite stiff because it's near delivery but still price is cheaper 77k/sqm

payment scheme:

1. spotcash with 10% discount
2. 50% outright downpayment with 7% discounts 50% balance
payable in 2 or 3 years,
3. 30% outright downpayment with 5% discounts,
70 % payable in 3 years all zero percent

all interest free.

assoc dues: 62-65/sqm

when you say 8th floor, sinasama ba sa bilang yung mga basements? kasi parang 5-6 floors above ground pa lang yung nasa photo update ni TheRick.

77K/sqm, fully-finished unit na? so mas mura kung read-to-receive finish pa lang?

tnx. :)

Hi TheRick and Satchel:

i'm waiting for agent's confirmation:) Based on my calculations of the recent pricing the units cost are from 72k+ to 82k+

parking price: 787, 500/slot

Pictures taken 12-May-08

http://www.readyforoccupancy.com/Seibu-47.jpg


http://www.readyforoccupancy.com/Seibu-48.jpg


http://www.readyforoccupancy.com/Seibu-49.jpg

May 18, 2008

http://i68.photobucket.com/albums/i37/llaurenversion3/urbanity/seibu.jpg

its 27F and yet it will be turn-over in 1Q 2009, how is that possible?

aside from the unknown architect and the low profile why is seibu well discounted in price? i am thinking about buying here with my most obvious tenants being junior singaporean diplomats whose first salary wouldnt be enough to rent the bigger projects.

If the price is this low, and the dues mentioned are accurate, my rental yield will be good. Whats the catch? Is parking P1M or more per space? Are the windows thin? Are the walls like SOMA,gypsum? Whats the issue?

aside from the unknown architect and the low profile why is seibu well discounted in price? i am thinking about buying here with my most obvious tenants being junior singaporean diplomats whose first salary wouldnt be enough to rent the bigger projects.

If the price is this low, and the dues mentioned are accurate, my rental yield will be good. Whats the catch? Is parking P1M or more per space? Are the windows thin? Are the walls like SOMA,gypsum? Whats the issue?

The low price that they have is being offset by the short terms that they give. Since the turn over of the project is dec 2008 for bare and for finish is june 2009. Other developers include builtin interests thus a higer price.

As explained by the agent, the walls are hollow blocks 6 inches for division between units and 4 inches in-unit partitions. parking is around 1 m for a dual carlift parking. Architect is ASYA design, the same as robinsons' mckinley park residences Avant by Crown Asia and Trion Towers by Robinsons. other projects are the mezza and grass residences(sm Development). The conractor is CE Construction. same contractor ar mckinley park residences, GT tower, Nestle, Tektite, Federal Land projects,etc.

These two companies are behind alot of the new projects by major developers, we are just not aware of them. I hope this helps.

Thanks POLGAS. Since i'm only getting 3.5% for my cash in the bank the opportunity cost is low anyway. since theres still good inventory available i think i will continue to wait and watch as the exterior is finished.

Thanks POLGAS. Since i'm only getting 3.5% for my cash in the bank the opportunity cost is low anyway. since theres still good inventory available i think i will continue to wait and watch as the exterior is finished.

3.5% loan interest? that's a good rate which bank is this? maybe I should take a loan from there too. hahaha :)

3.5% loan interest? that's a good rate which bank is this? maybe I should take a loan from there too. hahaha :)
not loan..thats the measly interest bdo give me..loan maybe 10% and thats why its hard to believe banks go under. how dumb must the manager be?

woahh.. 3.5% interest? how many years?

i normally suggest chinabank at only 8.5% fixed for either 10 or 15 years...

edit: haha :lol:, i thought it was for loans.. my bad..

http://picasaweb.google.com/alfonsonatividad/SeibuTowers/photo#5210342493324671602

^^ Your picture won't show up. I'll repost it for you.

http://lh4.ggpht.com/alfonsonatividad/SE7a5GC9enI/AAAAAAAAAB0/viDi39KAFSI/IMG_0034.JPG?imgmax=800

Photos by me :D 06.11.2008

http://farm4.static.flickr.com/3181/2576532399_377c469814_o.jpg

http://farm4.static.flickr.com/3272/2577359936_a627ac2bb0_o.jpg

^^

^^Thanks for reposting the photos, Rick. Napagod na ako kahapon sa dami ng pictures hehehe! :D

Grabe...
Ang gaganda ng angles ng pics mo...

Like these pics... You gave us a different look of Seibu tower's location...
Lalo na youn Newport City from BGC...
Very Nice!! ^^

june 20

http://i98.photobucket.com/albums/l255/dodecruz/Siebu.jpg

This project is going fast now :) isn't it?

Yup looks like it's indeed rising quicker now but will still be delayed in all probability based on the original promised turnover date.

Asked the agent, they said the bare turnover would be Jan 2009. I guess that would really be the turnover since initially they said that it wad end of december 2008. The construction is fast. they seem to be hitting 1 floor a week. with 12 floors left, top off would probably be september 2008. considering bare units, hmmm it would fall most likely by jan 2009 turnover. not bad. considering most of the projects in metro fall 6 months to a year late

^^ Oh is that all? That's good then. I thought the end of 2008 was for finished units, for bare units pala yon. If it will only be a month or so then it's not really much of a delay since normally developers have 6 months to a year grace period provision in their sales contract anyway to complete/finish and turnover the units to their buyers/investors. What's the provision in the Seibu contract ba for finsihed units?

I think it is reasonable to expect +3 months allowance.
Sept 2008 to Jan 2009 is very tight.

I think judging from what has happened in the past, IMO +3 to 5 months.
As long as you can plan ahead it should be ok.

I just got this update from my agent, just wanted to share with all the SSC members reading this thread. Theyre on the 17th floor.

http://i171.photobucket.com/albums/u288/mrlarryb/DSC09117a.jpg

Pictures taken 12-May-08

http://www.readyforoccupancy.com/Seibu-47.jpg

Comparing the picture taken July 7, 2008 and May 12, 2008...
So in almost 8 - 9 floors in 2 months...

I guess in 3 months (early October) they will topoff Seibu Tower... ^^

Hello guys! I'm new here . . . . very excited to make new friends.

Let me start with a big hooray for the GFLI team for their fantastic work on Seibu.

welcome to SSC rhoydec. i'd agree with this being one of the interesting projects in BGC. with its 270-deg view selling point. the rest is yet to be known or proven.

Thanks, Ph Man for the 'welcome' and also for your calmness. The experience in local real estate you share is valuable to us. There might be instances when we get too excited for reasons still not well founded or need to be proven.

I really pray for Seibu's success, I bought two units in it.

Any neighbors here? Please sound off.

two units! that's quite a risky move .rhoydec... let's hope this one gets finished. top off is not too far ahead. let me pay a visit later. :)

picture shot this morning

http://i68.photobucket.com/albums/i37/llaurenversion3/jul%2008/seibu.jpg

two units! that's quite a risky move .rhoydec... let's hope this one gets finished. top off is not too far ahead. let me pay a visit later. :)


. . . . Much appreciated Ph Man. I'm overseas now and the progress information from the posts here really helps.

. . . . Thanks for the photo update Laquacherra.

Thanks, Ph Man for the 'welcome' and also for your calmness. The experience in local real estate you share is valuable to us. There might be instances when we get too excited for reasons still not well founded or need to be proven.

I really pray for Seibu's success, I bought two units in it.

Any neighbors here? Please sound off.

Unit owner here... nice to know there are other unit owners here...

Just took this from Fairways. Looks like the 18th floor when i drove by today. First shot has Singapore Embassy in front (white 2 storey building) Second pic is more zoom on Seibu. Looking forward to this project being completed. The corner units will have a nice view considering no ones around them right now and also the park in front of the project is a nice additiion to the area. I like Bonifacio Global City, it has great potential and with the proper master planning I am hoping this really turns into a 1st class city. More power to those who have invested in BGC!

http://i171.photobucket.com/albums/u288/mrlarryb/15072008001.jpg

---------

http://i171.photobucket.com/albums/u288/mrlarryb/15072008002.jpg

Thanks for the awesome updated pics!!! :banana:

I think that corner spot is such a steal...
Having Pacific plaza, Beaufort, fort victoria, fairways, st.regis... as its 270 deg view...

yes, i agree. while the millionnaire's row is enjoying its Manila Golf and Makati views, someone from Seibu will be enjoying view of these towers lining up that strip. :D that's clever!

by the way, let's back track a bit. here are some photos taken last sunday as promised:
http://farm4.static.flickr.com/3182/2664920929_b79f93fd61_b.jpg

http://farm4.static.flickr.com/3109/2665749758_fa0b6b3271.jpg

http://farm4.static.flickr.com/3237/2665637914_e32cb30890_b.jpg

Hello kapitbahay TheRic. I can not exactly remember but I think I am on the 22nd and 24th floors.

Thank you for the fantastic photos Ph Man. Your are indeed a man of your word.

Looking at mrlarryb's first pic, does anyone know what development is accross the 6th street?

whats the floor to floor height for this tower, and also the overall final height of the bldg from its sidewalk grade level?

Hello kapitbahay TheRic. I can not exactly remember but I think I am on the 22nd and 24th floors.

Thank you for the fantastic photos Ph Man. Your are indeed a man of your word.

Looking at mrlarryb's first pic, does anyone know what development is accross the 6th street?

Wow!
We are almost at the same floor... I'm on 23rd floor...

^^ almost! that yours is sandwiched between his. :)

Thank you for the fantastic photos Ph Man. Your are indeed a man of your word.


hm...thank you. coming from you, that means a lot! perhaps making up for some past shortcomings. and thanks also for everybody else who keeps on pouring in photos updates.