BGC | Sapphire Residences [Archive]

realtor_manila

September 29th, 2006, 02:19 PM

I wonder what the amenities are?? and also the pricing??

Hello!

Amenities:

Two-storey high grand lobby
Recreational area with swimming pool, sun deck and jacuzzi
Spacious gym
Shower and changing facilities
Closed circuit TV (CCTV) monitoring for building security
Emergency power provision for public areas and individual units
Commercial spaces at the ground and 2nd floor
3 high speed elevators to service all basement, lobby and residential floors
2 communications connections for telephone and high-speed internet
Pipe-in gas direct to the kitchen
Potable water straight from tap supplied by Bonifacio Water Company
Roofdeck with Sky Garden

Prices:

1-BR 48.36 sqm / 520.35 sqft Php 2.994M (RRF) Php 2.559M (MUF)

2-BR 80.22 sqm 863.17 sqft Php 4.966M (RRF) Php 4.244M (MUF)

3-BR (combined 2-BR and 1-BR units) 128.58 sqm / 1,383.52 sqft
Php 6.802M (RRF) Php 7.960M (MUF)

Note: Prices above are the most affordable units at the 3rd floor

--------

3-BR (starting at 22/F and up) 129.08 sqm/ 1,388.90sqft Php 7.982M (RRF) Php 9.144M (MUF)

Note:
RRF - Ready to Receive Finish --smooth cement flooring, smooth ceiling, smooth walls, plumbing provisions are in place, bathroom /toilet fixture are not yet installed, kitchen countertop and sink are not yet installed

Model Unit Finish (MUF) ---

Sapphire Residence
Finishing Package/Specifications

v Flooring Finishes

· 300 x 300 mm ceramic tiles for Toilets and Baths

· 300 x 300 mm vinyl tiles for Utility Area & Maid’s Room

· Wood laminated flooring for Living, Dining, Kitchen, Hallway, & Bedrooms

v Wall Finishes

· 300 x 300 mm ceramic tiles for T&B’s shower area

· Painted 100 mm high baseboards for Living, Dining, Hallway, & Bedrooms

· Latex paint for Living, Dining, Kitchen, Hallway, Bedrooms, & T&B

v Ceiling Finishes

· Painted 12 mm thick Gypsum Board for Kitchen and Bulkheads (Areas that show utility lines)

· Painted 12 mm thick Moisture-Resistant Gypsum Board for Toilets and Baths

· Latex paint for Living, Dining, Hallway, & Bedrooms

v Kitchen

· Modular kitchen with laminated cabinet doors

· Salt-and-pepper granite (BD-Gray / Beige / Pink) for countertop, with 50 mm high backsplash

· Stainless steel kitchen sink with sink mixer

v T&B

· Lavatory with long pedestal, with single lever mixing faucet

· 2-piece water closet

· Shower mixers

· Frameless shower enclosure with tempered glass

v Doors

· Painted wooden flush door, complete with hardware & lockset

· PVC flush door for Utility T&B, complete with hardware & lockset

EXCLUDED ITEMS:

v Air-conditioning units
v Furniture and Furnishings
v Appliances
v Lighting Fixtures

For more information, click this link:

http://www.realestatemovers.com/Sapphire%20Residence.htm

Thank you!

JAMAICUS

September 29th, 2006, 02:28 PM

Anymore renderings? Interiors?

realtor_manila

September 29th, 2006, 02:39 PM

This is the 1,600 sqm corner lot where Sapphire Residence will be constructed. The Main Entrance of the condo building will be facing 31st Street (facing North; facing Pancake House, Gloria Jean's Coffee Shop).

http://i71.photobucket.com/albums/i143/cynchyap/The%205th%20BTO%20Project/GW5thBTOlot_090106-1.jpg

The main entrance of the condo building will be facing 31st Street (facing North; facing Pancake House, Gloria Jean's Coffee Shop).

http://i71.photobucket.com/albums/i143/cynchyap/The%205th%20BTO%20Project/183_8351.jpg

This is 2nd Street; West units will be facing 2nd Street; facing The Grand Hamptons -Tower 1 (formerly named Hamptons Place). The commercial units in Sapphire Residence will be at this side, facing 2nd Street.

http://i71.photobucket.com/albums/i143/cynchyap/The%205th%20BTO%20Project/183_8377.jpg

realtor_manila

September 29th, 2006, 02:51 PM

This is the ground floor. (Note: I have the scanned copy only for reference. As soon as I have the JPEG file, I'll post it here).

The swimming pool, jacuzzi and sun deck are located at the upper-left portion of the picture.

The gym is at the left side. Commercial units are at the right side of the picture.

http://i71.photobucket.com/albums/i143/cynchyap/The%205th%20BTO%20Project/SR_ground.jpg

realtor_manila

September 29th, 2006, 02:59 PM

As soon as I have the nice JPEG file, I'll post it here.
The 2nd level is mostly commercial units (also for sale).

http://i71.photobucket.com/albums/i143/cynchyap/The%205th%20BTO%20Project/SR_secondfloor.jpg

realtor_manila

September 29th, 2006, 03:15 PM

Bakit wala yata akong nakitang 3br sa building floor plan? Or inilagay lahat ng 3br above 21st floor?

Hello gasrock/Vic!

The typical floor plan from the 3rd-21st floor are composed of 2-BR and 1-BR units only. If you would like to get a 3-BR unit from these floor levels, you will simply combine the 2-BR and 1-BR units.

The other 3-BR units are located at the 22nd floor and up. Will post the floor plan for this as soon as available.

gasrock

September 29th, 2006, 10:13 PM

Thanks Cynch -
Daming info ang na-post mo. Siguro naman na satisfy na ang curiousity ng mga members. What you're referring to as 2nd street, hindi ba 2nd ave.? Ang tanda ko ang mga ave ay north-south at ang mga street ay east-west. Naku, yung mga tumitingin tingin diyan ay mag reserve na ng unit bago nanaman ma sold out.

realtor_manila

October 1st, 2006, 01:20 AM

The Sapphire Residence has the lowest density among pre-selling projects in Bonifacio Global City. (Other condos have 14-18 units /floor). This translates to more privacy/exclusivity for condo dwellers.

If you will look at the typical floor plan, there are only 8 units /floor. The upper floors have only 4 units/floor.

The building will have a 40% footprint of the 1,600 sqm lot area. This leaves 60% of the area open for circulation, greenery, landscaping, therefore providing unit owners generous natural light and ventilation.

macky

October 1st, 2006, 09:01 PM

Maybe another record sale again. G&W yata iyan!!! Hope to see more of their projects in the Fort.

richard.cua

October 2nd, 2006, 03:34 AM

Dvorak

October 2nd, 2006, 09:14 AM

I was just talking to Gibson thru email. He sent me the pricelist.. very competetive talaga ang pricing nitong Sapphire Residences! I'll let Gibson post the pricing here.

Tapos mga 6 months apart lang sila sa Grand Hamptons 2.. so ang estimated date of turnover nitong Sapphire eh June 2009.. ok na ok talaga..

jcb

October 2nd, 2006, 12:50 PM

ilang floor kaya to parang mataas

ishtefh_03

October 2nd, 2006, 05:08 PM

i like the design, especially yung concept na may sky garden sa taas, green architecture, "bringing the outiside, inside"... haha!!! the units are well ventelated naman...

Galing ng G&W!!! pwede ba sa inyo mag ojt next summer?? :lol:

3cr

October 2nd, 2006, 10:06 PM

Wow very nice indeed. Congrats in advance Gibs. Sure looks like another winner for GW. If I may, I'm wondering why you've decided to name this project Sapphire Residence? Just that it seemed like a departure from GW's other bulding names since this one is a gem stone while the previous once are more of places in the US.

After looking at the building floorplan, I would have to say combining the C&D units into a 2 bedroom pad unit (with 2 balconies to boot) is going to be simply awesome imo as the combined unit if it does face North will have the Ortigas Skyline as it's view which imo is actually the buiding's best side interms of view since it will less likely be blocked by future projects. Para bang bibili ano? Actually just day dreaming! Very exciting indeed Hehehe...:) :) :)

http://static.flickr.com/108/254510351_92d7599ba3_o.jpg

http://static.flickr.com/86/254510366_48b0bdf1fd_b.jpg

3cr

October 2nd, 2006, 10:06 PM

Just trying to get my bearing straight. Is the lobby of Sapphire's residential tower still facing 2nd Ave and it's commercial units/establishments on 31st as mentioned by Gibs sometime back? Just that from Cynch's posting and building floor plans it now seemed rotated in that the lobby now faces 31st / Boni Stop-over. Kung ganoon then units C&D indeed face north and combining these two 1 bedroom units will definitely be an awesome option for somebody ineterested in a bigger size 2 bedroom unit with views of the Ortigas skyline to boot. Dang that would be nice isn't it...:) :) :)
Gibs, Just out of curiosity which street will your newest building's entrance/lobby going to be facing/located?
The entrance and lobby of the residential tower will be facing 2nd ave.

3cr

October 2nd, 2006, 10:08 PM

Thanks for the pic Sinjin!

http://i.pbase.com/g5/35/107535/2/67646778.5eYLnamM.jpg

condo_dude

October 3rd, 2006, 05:53 AM

Prices:

1-BR 48.36 sqm / 520.35 sqft Php 2.994M (RRF) Php 2.559M (MUF)

2-BR 80.22 sqm 863.17 sqft Php 4.966M (RRF) Php 4.244M (MUF)

3-BR (combined 2-BR and 1-BR units) 128.58 sqm / 1,383.52 sqft
Php 6.802M (RRF) Php 7.960M (MUF)

Thanks for posting these numbers. I think we all appreciate knowing how affordable this exquisite residence promises to be! I have a few obvious questions:

1. Why are the MUF prices cheaper than the RRF prices for the 1BR and 2BR? I would think that finishes add cost, no?

Note: Prices above are the most affordable units at the 3rd floor

2. Would you care to share the pricing on higher floors, so that we can guestimate what the price would be on the floor we're interested in? Thanks.

Dvorak

October 3rd, 2006, 06:27 AM

1BR = 48.36sqm
RRF = 3/F (2.59M) ; 9/F (2.72M) ; 21/F (2.99M)
MUF = 3/F (2.99M) ; 9/F (3.15M) ; 21/F (3.43M)

2BR = 80.21sqm
RRF = 3/F (4.27M) ; 9/F (4.51M) ; 21/F (4.97M)
MUF = 3/F (4.99M) ; 9/F (5.21M) ; 21/F (5.69M)

3BR = 129.08sqm
RRF = 22/F (8.04M) ; 26/F (8.34M)
MUF = 22/F (9.2M) ; 26/F (9.5M)

Penthouse = 260sqm
RRF = 27/F (16.7M)
MUF = 27/F (18.9M)

Parking = Single (750T)
Tandem (1.2M)

Thanks for posting these numbers. I think we all appreciate knowing how affordable this exquisite residence promises to be! I have a few obvious questions:

1. Why are the MUF prices cheaper than the RRF prices for the 1BR and 2BR? I would think that finishes add cost, no?

2. Would you care to share the pricing on higher floors, so that we can guestimate what the price would be on the floor we're interested in? Thanks.

Dvorak

October 3rd, 2006, 06:44 AM

Looking at the location, there's a possibility that the other 3 blocks of land would someday have another condo.. meaning 4 condos in that lot. So based on SRs location.. the corner facing net one and penhurst could be block.. so the best location is the corner facing st. lukes as you will have partial view of Market market as well..

realtor_manila

October 3rd, 2006, 07:05 AM

Dvorak

October 3rd, 2006, 07:12 AM

I wonder if they will allow combining 2 one bedroom units.. like units C and D.. that will be awesome with 2 balconies..

realtor_manila

October 3rd, 2006, 07:13 AM

1. Why are the MUF prices cheaper than the RRF prices for the 1BR and 2BR? I would think that finishes add cost, no?

The model unit finish (MUF ) is Php 9,000/sqm higher than the Ready To Receive Finish (RRF). Model unit finish --painted walls, laminated wood flooring, shower glass enclosure, toilet and bath fixtures, kitchen countertop + kitchen sink.

Ready to receive finish --- smooth cement finish for floors , walls and ceiling. Unit is not painted. No toilet and bath fixtures. No kitchen countertop. This finish is perfect for those who want to customize their condo unit.

realtor_manila

October 3rd, 2006, 07:16 AM

I wonder if they will allow combining 2 one bedroom units.. like units C and D.. that will be awesome with 2 balconies..

Yes, they do. A new 2-BR unit lay-out maybe designed for this combination (two 1-BR Units combined). For those who want a 2-BR unit with balconies, this is perfect.

The regular 2-BR unit has no balcony.

3cr

October 3rd, 2006, 10:31 AM

Yup I agree combining units C&D and making it into a 2 bedroom pad unit with balconies and floor to ceiling windows facing the Ortigas skyline will be very nice indeed! Even better if that combined unit is on a higher floor like say 18 to 21. That will be simply awesome!

condo_dude

October 4th, 2006, 12:05 AM

gasrock

October 7th, 2006, 08:41 AM

^^^ From past posts I have found that realtor_manila is very detail oriented and I was wondering how this typo got past her. Then I looked at the date and time of her posts and realized that she was posting this info for us during the height of typhoon Milenyo and the closing of SSC for maintenance. Talagang dedicated and hard working is all I can say.
Is Sapphire Residence officially for sale and if so how is the response to it?

realtor_manila

October 7th, 2006, 08:39 PM

Hello gasrock/Vic!

Thank you for the kind words.

The response of the market to The Sapphire Residence is overwhelming --25% of the units are sold already. As expected, Units B C D and E are the most marketable.

The market is really good however, clients have to really look for condos which have good quality finishes. It is best to look at past projects of a developer/builder and scrutinize the finishes of a condo building. Another important aspect is property management. Make sure there's a professional property management company which will take care of the maintenance and security of the building as soon as the condo building is ready for occupancy.

condo_dude

October 8th, 2006, 01:06 AM

The response of the market to The Sapphire Residence is overwhelming --25% of the units are sold already. As expected, Units B C D and E are the most marketable.

:drunk: Yikes! It's only been, what, a week since the launch, which occurred in the middle of a hurricane, and 25% are sold?! What's going on? Just curious, what sort of trends are you observing relative to a year ago? For instance, are there more OFWs buying now, or FilAms, or locals, or FilEuros, or Japanese, or space aliens, or who? Who's not buying as much as a year ago?

Congratulations on your phenomenal sales pace. Don't overdo it. We still need you around to give us the scoop on the next project :)

3cr

October 8th, 2006, 04:38 AM

realtor_manila

October 8th, 2006, 08:07 AM

:drunk: Yikes! It's only been, what, a week since the launch, which occurred in the middle of a hurricane, and 25% are sold?! What's going on? Just curious, what sort of trends are you observing relative to a year ago? For instance, are there more OFWs buying now, or FilAms, or locals, or FilEuros, or Japanese, or space aliens, or who? Who's not buying as much as a year ago?

Congratulations on your phenomenal sales pace. Don't overdo it. We still need you around to give us the scoop on the next project :)

Hello condo_dude!

Actually, when I saw the availability list, I have to work like crazy because the good units (B C D E) are selling fast! The Filipino couple that I'm servicing here in Manila could not believe it and I have to show the list to them. Nataranta tuloy sila! :)

The clients that I'm dealing with are all Pinoys from the USA. I don't know with the other selling brokers.

My clients now decide fast -- mainly because of the protection that they get by having a depository and disbursement bank, ie, Banco De Oro, (which acts like an escrow party) which will keep the funds on their behalf. There's really peace of mind, hindi ka matatakot.

realtor_manila

October 8th, 2006, 08:15 AM

Cynch, I hope you post that article you have in your blogsite regarding FBGC's continued increase in land pricing from the MetroPacific days to now. I found your article very interesting and I'm sure many (especially FBGC investors like us) will do too. Many Thanks!

Hello 3cr/Boe!

Thank you for the comments and thank you for reading my blogs.

Source: http://www.fortboniconsultancy.com/blog/comment.php?entryid=9

Lot Prices in Bonifacio Global City (BGC) - Then and Now
Posted under General by admin on October 6, 2006 @ 11:23pm

Back in 1995, Metro Pacific Corporation (MPC) posted a bid of Php 33,000/sqm for the area to be developed in Fort Bonifacio. This was equivalent to US$ 1,260/sqm ---when the exchange rate was Php 26 to a US$ 1 !!! Most industry analysts were unanimous in their opinion that Metro Pacific's bid is overpriced. In fact, Metro Pacific's bid was 40% higher than the next bid.

I know that Ayala Land wants Fort Bonifacio so badly (!), due to its strategic location, being few minutes away from the Makati Central Business District (CBD). Getting Fort Bonifacio would really complement the Makati CBD. Unfortunately, Metro Pacific had the winning bid.

Metro Pacific had financial problems due to the 1997-1998 crisis. Some members of the consortium even left due to to other priorities (specifically, Filinvest Land which concentrated on Filinvest Corporate City in Alabang).

Fast forward in 2003.... Ayala Land and the Campos Group are now the majority shareholders controlling the development in Bonifacio Global City (BGC).

In 2006, Ayala Land unveiled the new Masterplan which will make BGC a first-class development. With the new Masterplan, BGC lots are now priced at Php 110,000-185,000/sqm (depending on the location) or at US $ 2,200-3,700/sqm at today's exchange rate of Php 50 to a US$ 1.

Is the new lot price set by Ayala Land realistic? For me, yes. This is the way I look at it: "the current price is the present value of all future developments that will take place in BGC". This includes the implementation of the new masterplan (better road networks, better traffic management, zoning of lots in BGC), upcoming developments like the construction of the St. Luke's Hospital), the future construction of a hotel in BGC and more!

BGC is a very attractive area considering that major developers like Ayala Land and Community Innovations, Inc., Megaworld, Meridien/Century Group, Robinson's Land, Philtown, and Build-To-Own (BTO) proponent G&W Architects have several existing projects in the area. New entrants in BGC include Xcell Property Ventures, Inc., Winville Development Corporation and the developer of Seibu Tower.

As long as the demand for condos is there, and these real estate players will develop these condo projects, expect lot prices in BGC to go up steadily.

3cr

October 8th, 2006, 08:36 AM

condo_dude

October 8th, 2006, 08:51 PM

Hello condo_dude!

Actually, when I saw the availability list, I have to work like crazy because the good units (B C D E) are selling fast! The Filipino couple that I'm servicing here in Manila could not believe it and I have to show the list to them. Nataranta tuloy sila! :)

The clients that I'm dealing with are all Pinoys from the USA. I don't know with the other selling brokers.

My clients now decide fast -- mainly because of the protection that they get by having a depository and disbursement bank, ie, Banco De Oro, (which acts like an escrow party) which will keep the funds on their behalf. There's really peace of mind, hindi ka matatakot.

Hi Cynch,

Wow, sounds like Fort Boni is really moving rapidly, potentially even faster than a year or two ago. Of course, it may just be G&W, which people have come to realize is trustworthy in terms of keeping its schedule and quality promises. And as you mention, the Banco de Oro payment scheme makes the whole deal must more trustworthy from the outset.

I would imagine that some of your investor clients are trying to roll their money from the deteriorating US markets (Las Vegas, San Diego, Boston, Miami, etc.) into much more modestly priced real estate in the Fort. Depending on the situation, this may free them from paying capital gains taxes when they cash out in the US.

Anyway, I'm glad to see your brisk sales. Hopefully this large influx of cash and will spill over into better law enforcement, sanitation, clean water, and a safer food supply, which will only push the real estate market higher still.

realtor_manila

October 9th, 2006, 09:44 AM

Naks service deluxe talaga. Thanks again Cynch! Feels very reassuring and really rewarding that we made the right/wise decision to invest in Fort Boni. Hope you don't mind I posted it in the Fort Boni thread as well. :) :) :)

Those who invested in Fort Boni truly made the right decision!

Ako, walang pinagsisihan sa Fort Boni! The place speaks for itself!

realtor_manila

October 9th, 2006, 09:53 AM

Hi Cynch,

I would imagine that some of your investor clients are trying to roll their money from the deteriorating US markets (Las Vegas, San Diego, Boston, Miami, etc.) into much more modestly priced real estate in the Fort.

My USA-based clients do NOT roll their money ---they are end-users not speculators.

theOCdiva

October 10th, 2006, 06:15 AM

condo_dude

October 10th, 2006, 06:43 AM

My USA-based clients do NOT roll their money ---they are end-users not speculators.

Sorry, I think I wasn't clear here. By "investor clients", I meant "those among your clients who are investors". Clearly most of the clients out there are end users.

Even so, just because one rolls money from one property to another does not make one a speculator. And not all speculators are fools. Some get very rich.

Rolling money even applies to end users, particularly US buyers. The tax law in the US allows the exemption from capital gains taxation of up to US$250K ($500K if married) in profit on the sale of a principal residence owned and lived in for 2 of the last 5 years. For people trapped in overvalued markets, it's a great way to avoid taxes and at the same time make a new investment, in this case, in Fort Bonifacio. Those who think that the Fort is getting expensive should look at San Diego. 1BRs there often sell for over $400K!

Similarly, US real estate investors (not necessarily speculators) can use what's known as a 1031 exchange to roll money essentially taxfree from one property to another. I'm not sure whether they can roll this money outside the US, but I think they can. My point is that the Fort represents an attractive value to these investors, relative to, say, Las Vegas or Boston right now, and that this may in part explain your phenomenal rate of sales.

Anyway, best of luck with the preselling!

Dvorak

October 10th, 2006, 08:47 AM

PinoyBroker

October 11th, 2006, 03:55 AM

Dvorak

October 11th, 2006, 04:04 AM

uuy today yata ground breaking nang Hamptons 2..

theOCdiva

October 11th, 2006, 05:57 AM

from cynch's website: Own a 1-BR condo (48.36 sqm or 520.35 sqft) in Bonifacio Global City (Fort Bonifacio) for as low as Php 22,733/month or US $452/month only! (Based on special bank financing of 15 yrs)

what bank is this?? and what's the term?? interest rate?? is this fixed? how much downpayment?? how many months is the downpayment payable??

Got similar questions, Dvorak. How does USD452 calculate? how does one qualify? requirements? citizenship?

Cynch, where are you?! We need you!:wave:

Dvorak

October 11th, 2006, 06:07 AM

here's my assumption.. well if it's bank financing.. they will require at least 20 to 30% downpayment..

so say 30% of 3M = 900T

then 70% goes to financing.. for 15 years.. so that's about 12% interest per annum kung mga 23T per month..

requirements lang di ko alam.. and what's the terms on the downpayment.. do you have to pay it in 1 payment?? or stretched in 6? 12? months?

Got similar questions, Dvorak. How does USD452 calculate? how does one qualify? requirements? citizenship?

Cynch, where are you?! We need you!:wave:

realtor_manila

October 12th, 2006, 05:29 AM

Hi Cynch,
Thanks for all the info on your new consultancy web-site. Very impressive!

You mentioned 'In 2006, Ayala Land unveiled the new Masterplan which will make BGC a first-class development. With the new Masterplan, BGC lots are now priced at Php 110,000-185,000/sqm (depending on the location) or at US $ 2,200-3,700/sqm at today's exchange rate of Php 50 to a US$ 1."

How does this translate into the calculation of a condo unit's assessed value?

Also, if I was looking into another unit in BGC, this time as an investor in Sapphire, what will the numbers look like? And how does that USD453/mo payment for a unit in Sapphire work (as shown in your web-site)?

"Is the new lot price set by Ayala Land realistic? For me, yes. This is the way I look at it: "the current price is the present value of all future developments that will take place in BGC". This includes the implementation of the new masterplan (better road networks, better traffic management, zoning of lots in BGC), upcoming developments like the construction of the St. Luke's Hospital), the future construction of a hotel in BGC and more!"

Which hotel will it be? and only one hotel? Maybe more?

Thanks!

Hello OCdiva/Susan!

1) Calculation of a condo unit's assessed value

The actual assessed value of a condo unit can only be determined when the condo is ready for occupancy. A government representative (ie, usually from the Taguig City Assessor's office) will do the actual inspections of the condo unit /condo building and they will set the assessed value of the condo unit (which is usually expressed in terms of Peso/sqm) .

There are many factors involved in determining this : the condo unit itself , the surrounding area which also includes lot prices.

Definitely, lot prices do influence the assessed value of a property.

2) I will e-mail you computations for Sapphire Residence .

The US$453/month is the monthly amortization for the bank loan (which is 65% of the total contract price). The bank loan will be from Banco De Oro. Said figure is derived from a maximum loan term of 15 yrs at 11.5% interest rate fixed for 5 yrs, 6th-15th years are subject to annual repricing.

3) Bonifacio Development Corporation is negotiating with a hotel group (usually they offer the lot on a long-term lease).

Honestly, I don't know the name of the hotel. :dunno:

Thank you for the kind words. Your comments inspire me to do better in this profession! Maraming salamat!

realtor_manila

October 12th, 2006, 05:34 AM

Got similar questions, Dvorak. How does USD452 calculate? how does one qualify? requirements? citizenship?

Cynch, where are you?! We need you!:wave:

I'm here !

Sorry, I've been super busy lately --- kulang sa tulog! ha ha

The US452/month is based on a 15 yr loan at 11.5 % interest rate.

Bank loan with Banco De Oro -- how to qualify

a) Filipino/Dual citizen --- okay; if Foreigner --- should be married to a Filipina.

b) Requirements : if employed --Certificate of Employment and compensation; Latest Income tax return ; valid IDs

realtor_manila

October 12th, 2006, 05:36 AM

and what's the terms on the downpayment.. do you have to pay it in 1 payment?? or stretched in 6? 12? months?

Standard terms for the 35% downpayment --payable in 6 mos at 0% interest.

There are times SSF is down so I can not visit SSF regularly. For serious inquiries, kindly e-mail me at : cynchyap@realestatemovers.com . Thank you!

geebeng

October 12th, 2006, 06:11 AM

yeah Cynch, I like your fortboniconsultancy website, kaya lang too early to discuss business kasi layo pa turnover ko.

theOCdiva

October 12th, 2006, 07:21 AM

gasrock

October 12th, 2006, 08:07 AM

theOCdiva

October 13th, 2006, 06:06 AM

3cr

October 13th, 2006, 06:15 AM

Uy parang FUBU! Hehehe... :) :) :)

Dvorak

October 13th, 2006, 06:27 AM

uy FUBU!! hehehehe

Uy parang FUBU! Hehehe... :) :) :)

gasrock

October 13th, 2006, 07:27 AM

theOCdiva

October 14th, 2006, 06:51 AM

hey guys, what's FUBU?

theOCdiva

October 14th, 2006, 06:56 AM

Anong FUBU? But really, I'm just trying to understand the reasoning behind the rules. So for a dual citizen it is ok? But a dual citizen does not mean staying in the Phil. so wala din silang hahabulin. At bakit kailangan maghabulan? If one defaults on a loan then the bank can reposses and sell at a higher prevailing price plus keep all the deposits and monthly payment made. And for my planned enterprise I'd like to point out that I charge fees on a sliding scale depending on the "and then some" factor. Ha! ha! Maldito talaga maski saan.

surely, banks are not in business to get defaults, it messes up the books. they may auction it off or go sell it off to secondary market, but no clue if it happens in PI.

I gez we need more feedback from Cynch about this marriage angle.

realtor_manila

October 14th, 2006, 07:34 AM

Cynch, got your e-mail, will e-mail back.

Many thanks for taking sometime to get back to us, knowing you're busy with work. Really do appreciate it :) .

Taas pala nang interest rate, as opposed to 6 to 7.5% in US. I kinda suspected about the dual citizenship or marriage connection. Then I'll have to think about how to declare interest come tax time. Hmmm, gets rather complicated.

Hello OCdiva/Susan!

Some clients especially those from the USA are "allergic" to high interest rates. :) One option in paying the 65 % balance is to pay that in installment terms (ie, 20 mos at 0% interest) .

Other clients in the USA apply for a home equity loan (ie, from their house & lot property in the USA) and then pay the condo property in Manila through installment terms or cash. Through this , you can avail of cheaper financing in the USA AND you get to buy your dream condo here in Manila! :)

realtor_manila

October 14th, 2006, 07:36 AM

Anong FUBU?

Ano ba itong thread na ito , may FUBU pa! It means F _ _ _ K Buddy. Si Vic talaga!

realtor_manila

October 14th, 2006, 07:42 AM

I learn something everyday in this forum. A foreigner can pay cash for a condo no problem. But if same foreigner wants to buy same condo with a bank loan, he/she has to be married to a Filipino citizen. The income qualification I can understand but the marriage thing? Hmmmm....I wonder how much a foreigner will pay me to marry her if I become a dual citizen?

Hello Vic!

Actually, a foreigner married to a Filipina inquired from me about this bank loan. He will be employed here in Manila but his wife has no job. I spoke with a bank representative of Banco De Oro and they told me that they are willing to extend a bank loan to the couple. The foreigner (male) will just present his Certificate of Employment and Compensation (the major document needed) to Banco De Oro and that will be the basis in extending the bank loan.

gasrock

October 14th, 2006, 09:38 AM

Ano ba itong thread na ito , may FUBU pa! It means F _ _ _ K Buddy. Si Vic talaga!

Oppps! Hindi sa akin nanggaling ang initials na yan, tinatanong ko lang kasi ngayon ko lang nadinig yan. Kung sinabing "friends with benefits" I can understand.
Did that foreign client of yours put the condo in his name?

3cr

October 14th, 2006, 09:58 AM

ishtefh_03

October 14th, 2006, 10:05 AM

^^:lol: nakakatuwa lagi kayo at parang ako lang bata na nakaka encounter yang mga ganyan... madami ako nalalaman dito... haha!! :D

gasrock

October 14th, 2006, 11:18 AM

^^ Naku Vic nahuli na pala ako at nasagot na ni Cynch kung ano ang FUBU though medyo malutong ata yung definition niya Hehehe! Sorry alam ko kasi sa FUBU eh "Friends with Benefits" (PG rated definition) otherwise I would not have used the term so as not to offend anyone. Naku pasensiya na po!

Boe, ikaw talaga palagi mo akong pinapahamak. Nakakahiya tuloy may mga babae pa naman dito sa thread na ito. Pati naman itong si Susan (ocdiva) nakitanong tanong din imbis na naghintay ng sagot sa tanong ko. Dalawa tuloy kaming nabiktima.

realtor_manila

October 14th, 2006, 12:39 PM

Did that foreign client of yours put the condo in his name?

I'm still waiting for feedback from the client. But he intend to place the Title under his and his wife's name (conjugal property).

gasrock

October 14th, 2006, 06:59 PM

marites4

October 14th, 2006, 07:25 PM

Do units Cand D have floor to ceiling windows?

theOCdiva

October 15th, 2006, 09:47 AM

Hello OCdiva/Susan!

Some clients especially those from the USA are "allergic" to high interest rates. :) One option in paying the 65 % balance is to pay that in installment terms (ie, 20 mos at 0% interest) .

Other clients in the USA apply for a home equity loan (ie, from their house & lot property in the USA) and then pay the condo property in Manila through installment terms or cash. Through this , you can avail of cheaper financing in the USA AND you get to buy your dream condo here in Manila! :)

Hi Cynch, Yup, you got the allergy thing right. I'd rather get the 20/0 with the DP staggered than pay almost double (compared here to US) in interest.
I saw a posting about the marriage bit on a thread named 'condo as investment...something', but darn, I just can't find it :gaah: . I wish we had a search capability in this blog. It had to do with a lawsuit gasrock had mentioned above and it was on some official Philippine laws.

I also recall that a BTO is not easy to sell due to other requirements different from a regular condo unit. So if I bought a Sapphire unit purely as investment, I remember that it gets complicated when I sell it. Am I correct?

Sorry, OT: gasrock, but still curious, I'm a duuuh,:dunno: I still don't understand what FUBU means.
Maybe it's better not to ask here and have someone just e-mail me?

realtor_manila

October 15th, 2006, 10:15 AM

I also recall that a BTO is not easy to sell due to other requirements different from a regular condo unit. So if I bought a Sapphire unit purely as investment, I remember that it gets complicated when I sell it. Am I correct?

Hello OCdiva/Susan!

Selling a BTO unit is exactly the same as selling a regular condo unit. As long as you have a Condominium Certificate of Title (CCT) to the property which is clean and free from lien/s, you can sell your condo unit to another party.

There's a number of re-sale transactions in Penhurst (a BTO project) and they did not encounter any problem.

realtor_manila

October 15th, 2006, 10:17 AM

Do units Cand D have floor to ceiling windows?

Hello marites4!

Yes, both C and D units (these are 1-BR units) have floor to ceiling windows.

realtor_manila

October 15th, 2006, 10:38 AM

^^^ I was just curious because there was a post some time back about a foreigner who lost his rights to the property when his filipina wife divorced him and took the property and wala siyang habol. But if it's a conjugal property how would the court decide in case of divorce...will he have equal rights to the property? Also in cases of mixed marriages do you advise both parties of their rights as far as whose name the title will be held or do you stay out of it?

Hello Vic!

1) In the above-mentioned case, the foreigner lost his rights because the property was placed under the name of the wife. Wala talagang habol. ( If I remember right, I think this was a house & lot property --- take note, the foreigner can NOT own house & lots/lots only, so that's the reason the property was placed under the name of the wife).

For condos, foreigners can own a condo property ----so obviously, his name should appear also in the Title.

2) If conjugal property ---- you have equal rights to the property or put it another way, you split the proceeds of the property in the event it will be sold.

3) The clients ("mixed marriages") I deal with are very aware of their rights, so no problem with me (ie, I don't comment regarding this issue unless they ask my opinion). These couples always place the property under their names (husband's and wife's names appear in the contracts and CCTs).

4) Separation of Properties:

If a couple wants separation of properties, 2 options are available:

a) Execute a pre-nuptial agreement. ha ha ha!

b) Or if you're married already, then a couple can execute an agreement (with the help of their lawyer) regarding separation of properties. So, whatever property you purchase is YOURS and YOURS alone. (It also explicitly states that the other spouse has no right on a certain property.) This can be done! (Filipino couples do not discuss this because nakaka-dyahe! Read: Nakakahiya!)

I've consulted a lawyer regarding this, as long as there's an agreement (read: legal document) between spouses, there's no problem with this.

With regard to this matter, everything has to be properly documented (contracts/agreements etc.) . Get a good lawyer.

realtor_manila

October 15th, 2006, 10:47 AM

Sorry, OT: gasrock, but still curious, I'm a duuuh,:dunno: I still don't understand what FUBU means.
Maybe it's better not to ask here and have someone just e-mail me?

Hello OCdiva/Susan!

I sent you a PM and I gave you a straight-forward answer.

Enough of this please! The moderator might close this thread! ha ha ha!

Vic, behave!!!! ha ha ha!

3cr

October 15th, 2006, 08:41 PM

On a different slant, here's a great enterprise, gasrock, marriage of convenience...and then some, eh? :) :naughty: :naughty:
hey guys, what's FUBU?
Susan,
For the sake of the thread and sensitive reader's, let's just leave it at "Friends with Benefits" monetary man or otherwise. Para bang "Marriage for Convenience" baga to get a Green Card.

gasrock

October 15th, 2006, 11:36 PM

Thanks for the clarification Cynch on the title and property rights issues. Why are you telling me to behave.....I did not start this fubu business. ha! ha! ok tigilan na natin yan.
Now if I can only find a lawyer who can write me binding contract that clearly states whatever property I buy is MINE and whatever property she buys is OURS...then I should be set.

marites4

October 16th, 2006, 04:11 AM

Hello Vic!

1) In the above-mentioned case, the foreigner lost his rights because the property was placed under the name of the wife. Wala talagang habol. ( If I remember right, I think this was a house & lot property --- take note, the foreigner can NOT own house & lots/lots only, so that's the reason the property was placed under the name of the wife).

For condos, foreigners can own a condo property ----so obviously, his name should appear also in the Title.

2) If conjugal property ---- you have equal rights to the property or put it another way, you split the proceeds of the property in the event it will be sold.

3) The clients ("mixed marriages") I deal with are very aware of their rights, so no problem with me (ie, I don't comment regarding this issue unless they ask my opinion). These couples always place the property under their names (husband's and wife's names appear in the contracts and CCTs).

4) Separation of Properties:

If a couple wants separation of properties, 2 options are available:

a) Execute a pre-nuptial agreement. ha ha ha!

b) Or if you're married already, then a couple can execute an agreement (with the help of their lawyer) regarding separation of properties. So, whatever property you purchase is YOURS and YOURS alone. (It also explicitly states that the other spouse has no right on a certain property.) This can be done! (Filipino couples do not discuss this because nakaka-dyahe! Read: Nakakahiya!)

I've consulted a lawyer regarding this, as long as there's an agreement (read: legal document) between spouses, there's no problem with this.

With regard to this matter, everything has to be properly documented (contracts/agreements etc.) . Get a good lawyer.

hi realtor
Would that be called a postnuptioal agreement?
Can you combine those two units as someone here mentioned?

Dvorak

October 16th, 2006, 05:49 AM

realtor_manila

October 16th, 2006, 07:18 PM

in a BTO property, I think you have to ask the condominium corp for permission first before you sell a unit? is that right?? Also - the first priorities are the existing condo unit owners.. so it's like you have to place an AD for certain number of days.. wait for the other unit owners to respond before you can sell it outside? also - with regards to the price, can you set your own price or the condominium corp also has a say on the price??

Hello Dvorak!

1) In all condo properties (whether it is BTO or not), if you intend to sell your condo unit, it has to be offered to the members of the Condominium Corporation first. That' s what we call "right of first refusal". If there are no buyers/takers from the Condo Corp, that's the time it is sold to the market. (I have an experience in selling a condo unit, sarado na and all , but my co-broker and I have to remind the unit owner that we need a Certification from the Condo Corp, so we have to wait for a 15 day "announcement period),

Usually, the Condo Corp makes an announcement ---15 days announcement (it really depends on the Condo Corp).

Assuming you sold your condo, the Registry of Deeds will require you to present a Certification from the Condominium Corp that said condo property was offered to members of the Condo Corp. This is a requirement.

2) Price -- the unit owner/seller sets the price.

realtor_manila

October 16th, 2006, 07:27 PM

hi realtor
Would that be called a postnuptioal agreement?

I really don't know the term for this. I simply call it an "internal arrangement" between spouses. Kung yun kasi gusto nila mag-asawa, so be it ---basta nagkakaintindihan sila, so no problem. Again, everything has to be in writing ---properly documented! Get a lawyer.

Can you combine those two units as someone here mentioned? --Sorry Marites, I didn't get this question.

realtor_manila

October 16th, 2006, 07:38 PM

Now if I can only find a lawyer who can write me binding contract that clearly states whatever property I buy is MINE and whatever property she buys is OURS...then I should be set.

Hello Vic!

AYOS !!! ha ha ha! If you want this to happen, the other spouse has to CONCUR with what you have in mind. (I think I should call Rosalie now. ha ha ha! Joke!!!) :jk:

gasrock

October 16th, 2006, 08:40 PM

^^^ Isa ka pa, ipapahamak mo din ako. But I always learn something new here. For example that offer of first refusal...this is the first time I learned of this. I guess it's not a big problem as long as the owner sets his own price it does not matter who is the buyer. But then again on the other hand it seems like an un-necessary step. Oh well.....rules are rules.

laquacherra

October 17th, 2006, 04:00 AM

hey cynch/realtor_manila! thanks for accommodating us at the showroom last night... it has certainly erased some misconceptions i've had regarding g&w projects :)

realtor_manila

October 17th, 2006, 06:14 AM

hey cynch/realtor_manila! thanks for accommodating us at the showroom last night... it has certainly erased some misconceptions i've had regarding g&w projects :)

Hi Lauren! It's been nice meeting you and Alfonso (Pons?) yesterday! Keep in touch!

I'm accredited with all major developers/builders in BGC, but I only endorse those projects which will pass my personal standards. (Read: Hindi ako mapapahiya!).

G&W's Build-To-Own (BTO) projects are affordable yet they are of good quality. It provides good value for money. I've seen so many condos and have analyzed so many projects (within G&W's and similar projects' price points) , and G&W's BTO projects have a lot of strengths which some buyers/investors do not see. Sa totoo lang.... :)

theOCdiva

October 18th, 2006, 07:03 AM

Hi Cynch, Yup, you got the allergy thing right. I'd rather get the 20/0 with the DP staggered than pay almost double (compared here to US) in interest.
I saw a posting about the marriage bit on a thread named 'condo as investment...something', but darn, I just can't find it :gaah: . I wish we had a search capability in this blog. It had to do with a lawsuit gasrock had mentioned above and it was on some official Philippine laws.

YEEEES! I found the stuff on Philippine laws regarding property ownership, courtesy of PLC Intl Mktg (thanks to PLC Intl Mktg) and I quote here:

"Philippine Property Ownership

• Foreign Ownership of Philippine Real Estate & Assets

A Foreign National can only own Philippine Real Estate through the purchase of Condominium Units or Townhouses constituted under the Condominium principle with Condominium Certificates of Title [CCT Title Deeds].. [Note* Townhouses covered by a Transfer Certificate of Land Title are not allowed to be owned by Foreign Nationals].

Foreign Nationals can buy and own in their own name, condominium units under Republic Act 4726, otherwise known as the Condominium Act, provides that no condominium unit can be sold without at the same time selling the corresponding amount of rights, shares or other interests in the condominium management body (The Condominium Corporation), and no one can buy shares in a condominium corporation without at the same time buying a condominium unit. Now the Condominium Act of the Philippines, R.A. 4726, expressly allows foreigners to acquire condominium units and shares in condominium corporations up to not more than 40 % of the total and outstanding capital stock of a Filipino owned or controlled corporation.

As for Philippine Visa Requirements, for those Nationals planning to stay for longer term visits to the Country, or for Non Philippine Nationals, a Retirement Visa may be applied through the Philippine Leisure Authority where proposed or "pre-existing investments may qualify the applicant for a Philippine Retirement Visa. The Philippine Leisure and Retirement Authority (PLRA) is no longer accepts Special Resident Retiree’s Visa (SRRV) applicants with pre-existing investments in the Philippines. Pre-existing investments in the form of a previously purchased condominium unit, shares of stock in corporations, leasehold agreements and proprietary membership shares are no longer accepted in lieu of the required US dollar time deposit.

In addition to the usual documentary requirements for SRRV application, applicants should submit specific documents depending on the type of investment they will be using in lieu of the US dollar time deposit. For condominium units or long-term leasehold agreements, applicants should submit: Condominium Certificate of Title (CCT) or Transfer Certificate of Title (TCT) duly certified by the Registry of Deeds; and Deed of absolute sale as proof of the property’s purchase price, which should be at least USD 50,000.00 or USD 75,000.00, whichever is applicable, based on the exchange rate at the time the property was purchased or acquired.

• Right To Own Philippine Real Property

Under the pertinent provisions of the Philippine Constitution only Filipino citizens and corporations or partnerships at least 60% Philippine owned are entitled to acquire LAND in the Philippines. As an exception to this rule, foreign acquisition of Philippine real estate is allowed in the following cases. Acquisition before the 1935 constitution. Acquisition thru hereditary succession if the foreign national is a legal heir. Purchase of not more than 40% interest as a whole in a condominium project. Purchase by a former natural born Filipino citizen subject to the limitations prescribed by law. A Filipino who is married to an alien retains their Philippine citizenship, unless by their act or omission they are deemed to have renounced their Philippine citizenship. [Please see notes on the Philippine Dual Citizenship Law].

• Foreign Ownership as a Philippine Corporation

Another way for foreign nationals to invest in Philippine real estate is for the Foreign national or foreign corporation to create a Philippine corporation to hold title. This allows the Philippine corporation of a foreign national or foreign corporation less investment risk and more control of their Philippine real estate investment, and other Philippine investment assets. Foreign nationals, and corporations may 100% own a Philippine condominium or town home. However, care must be taken as a foreign investor and adequate caution should be taken upon considering taking title to real estate in this manner to avoid being accused of using Filipino Citizens as mere "Dummies" to circumvent Constitutional Provisions prohibiting Foreign Nationals from acquiring Land in the Philippines.

For private land, residential home with land lot and or commercial building with land lot ownership the foreign national and or corporation forms a Philippine Corporation to take ownership of the property. On paper, a Philippine Corporation by Philippine law will be a maximum of 40% foreign owned, and a minimum of 60% Filipino owned with a minimum of five incorporators. The Philippine corporation by law shall have a main bank account tied to it before and upon incorporation. A foreign national may be the sole person on the Philippine corporation bank account once after the Philippine corporation has been created and power of attorney has been handed over to the foreign investor at the time of incorporation. Thus allowing the foreign national total control over the funds derived and paid out from the Philippine Corporation and from the income or sale of the asset or real estate property.

• New Dual Citizenship Laws Affecting Property Ownership

Dual citizenship is now newly available under Philippine Law. Dual citizenship means having two citizenships and passports from two different countries. Former Philippine citizens born in the Philippines, but that have immigrated to another country and obtained citizenship of that country. A foreign spouse married to a Philippine citizen. Dual citizenship allows the citizenship holder full rights of possession of Philippine real estate property.

* Philippine's Embraces Dual Citizenship [September 19, 2003]

In a landmark bill, the Philippine Government enacted Citizenship Retention and Reacquisition Act. With this act, the decades-old ban on dual Philippine citizenship was thrown away. The Philippine Congress recognized that in today's world, Filipinos have dispersed around the world and have even taken on the nationality of their new home countries while maintaining their strong ties to the Filipino community, heritage and families.

Unfortunately, prior to this act, a Filipino who naturalized in another country, such as the U.S. lost Filipino citizenship. The Philippine Congress recognized that this seriously affected the unity of Filipinos overseas with those in the Philippines. It also had drastic consequences with prior Filipinos losing interest in investing in the Philippines.

The new act allows all prior Filipinos who lost their Philippine citizenship because they became citizens of another country to regain Philippine citizenship. It also allows Filipinos who want to naturalize in another country, like the United States for example, to keep their Philippine citizenship. Reacquiring and retaining citizenship allows dual national Filipinos to vote and run for elected office.

The children of Filipinos who reacquire citizenship are also affected. Those unmarried children, under the age of 18 will also be considered to be citizens of the Philippines. This includes legitimate, adopted, and illegitimate children.

The reacquisition of Philippine citizenship is not automatic. Filipinos who lost Philippine citizenship when they became citizens of anther country must swear an oath of allegiance. The oath is found in the text of the act, and in the coming months the Philippine Department of Justice will provide rules on the administration of the oath. One can envision that former Filipinos overseas need appear at their local Consulate to take oath and apply for Philippine passport.

The new act accepts back, with open arms, Filipinos who lost their citizenship. It embraces dual citizenship and recognizes that in today's day and age dual citizenship is a desirable factor for Filipinos who maintain their allegiance to their homeland.

• Foreigner Married to a Philippine Citizen

If holding title as an individual, a typical situation would be that a foreigner married to a Philippine citizen would hold title in the Philippine spouses name. The foreign spouse's name cannot be on the property Title and he/she will never have anya rights over the property whatsover but can be on the contract to buy the property. In the event of death of the Philippine spouse, the foreign spouse is allowed a reasonable amount of time to dispose of the property and collect the proceeds or the property will pass to any Philippine heirs and or relatives. As a foreign investor caution should be taken upon considering taking title to real estate in this manner. In the event of divorce or legal separation, a Foreign National will simply walk away without a cent as the property, even if sold, all proceeds will be awarded to the Filipino spouse.

• Condominium Residential Commercial Development Ownership Law

Presidential Decree No. 957, which regulates the sale of subdivision and condominium developments. The National Housing Authority has exclusive jurisdiction to regulate real estate trade and business, a function, which is presently exercised by the Housing and Land Use Regulatory Board (HLURB). Certain conditions are required before a license to sell condominium development units and or subdivision development lots and homes is issued to a Filipino or Foreign owned individual or corporation. The requirements include a certificate of registration, a performance bond, and an approval of the building plans and specifications.

For further information please do not hesitate to contact us....

PLC International Marketing Networks
Pacific Concord Properties Inc - Head Office Manila
Lancaster Suites. 2/F JTIC Building
622 Shaw Boulevard Corner Samat St.,
Mandaluyong City. Metro Manila. Philippines 1552
Tel: [Manila 63 2] 717 1958 [Direct Line]
Fax: [Manila 63 2] 718 1828"

Gibson@G&W

November 8th, 2006, 10:24 AM

I wonder if they will allow combining 2 one bedroom units.. like units C and D.. that will be awesome with 2 balconies..
Yes, in fact, we have a plan for that already. It can be a 3-BR unit or a 2-BR unit, depending on the preference of the client.

http://i65.photobucket.com/albums/h229/gibsonyu/BTO5-1br1br3br2006-11-02-1BR1BR.jpg

Gibson@G&W

November 8th, 2006, 10:40 AM

I would have thought your money and credit/assets would have been good enought to get a bank loan..I think it's the possibility of one defaulting on the loan that banks want to avoid. Now if you had someone local who is on the loan, then there's someone else to go after. But you're right, gasrock,why does one have to be married? how about just being in it together (how ever many there are on the loan).

On a different slant, here's a great enterprise, gasrock, marriage of convenience...and then some, eh? :) :naughty: :naughty:

The bank that offers financing is Banco De Oro. They will finance our clients without the need for any other collateral, other than the unit being built. This is quite an achievement for us because we have broken the barrier of the bank having a pawnshop mentality. All banks in Manila will only offer financing once the title of the unit is there, because no bank is assured of completion by the developer.

However, due to the Trustee bank relationship that we have with Banco De Oro, which allows them to control the money and get assured delivery from G&W, they are now allowing financing using a pre-development condo as the collateral. All we need to do is sign a document that we will forward the title of the unit (being financed) to them upon completion in 24 months.

Banks are very conservative institutions, and for BDO to trust us and give financing to our clients while we build the building is indeed an achievement.

Now, returning to the question at hand. I believe Banco De Oro allows foreigners to avail of financing, since the subject property is still here in Metro Manila. The rates they give are standard, and is the same with any other bank housing loans that they give. (No, they do not have premiums for financing pre-development homes)

All that the bank needs is proof of credit, and for foreign unit owners in the USA, usually a W2 is needed, or a payslip. It is easier to get financing if you are employed, compared to if you own your business. If you own your business, you have to at least be operating for 3 years and have been profitable too.

No need to marry a Filipino Citizen to get a loan! :)

Gibson@G&W

November 8th, 2006, 11:35 AM

Hello OCdiva/Susan!

1) Calculation of a condo unit's assessed value

The actual assessed value of a condo unit can only be determined when the condo is ready for occupancy. A government representative (ie, usually from the Taguig City Assessor's office) will do the actual inspections of the condo unit /condo building and they will set the assessed value of the condo unit (which is usually expressed in terms of Peso/sqm) .

There are many factors involved in determining this : the condo unit itself , the surrounding area which also includes lot prices.

Definitely, lot prices do influence the assessed value of a property.

The condo assessed value usually takes into considertaiton the purchase price. The land already has an assessed value here in Fort Bonifacio. The condo is considered an improvement. Therefore, the assessed value of a unit is the balance of the total project cost, minus the land assessed value.

Of course, in order for the assessors office to find out the cost of improvements, they will take the contract price of each unit. Just to clarify, the assessed value is not the actual value of your unit...it is merely the basis for tax collections!

Gibson@G&W

November 8th, 2006, 11:42 AM

Gibson@G&W

November 8th, 2006, 11:47 AM

I also recall that a BTO is not easy to sell due to other requirements different from a regular condo unit. So if I bought a Sapphire unit purely as investment, I remember that it gets complicated when I sell it. Am I correct?

Hi OCdiva...there is nothing different about BTO in terms of ownership, and rights to the unit, and documentation. Once the building is complete, it will have a regular CCT (Condominium Certificate of Title) just like any other condominium and would be the same in terms of requirements in selling.

The difference between BTO and other Developer-led projects is really just the entities involved in building your building.

I would reckon that you would have an easier time selling a BTO project, because for you as an investor to make a profit, you can price it lower than the price of a developer, and still make a positive return. Versus buying from a developer who already "profited" from the condo..in this scenario, when you sell it, for you to make a positive return, you would have to price your investment at a higher price than a developer.

slapstring

November 8th, 2006, 12:40 PM

Yes, in fact, we have a plan for that already. It can be a 3-BR unit or a 2-BR unit, depending on the preference of the client.

http://i65.photobucket.com/albums/h229/gibsonyu/BTO5-1br1br3br2006-11-02-1BR1BR.jpg

hi gibson! will this merged unit come with 2 separate CCT's?

Gibson@G&W

November 8th, 2006, 05:39 PM

hi gibson! will this merged unit come with 2 separate CCT's?

Normally, we would just have one CCT for it, but if the client requests, we can have 2 CCTs for it.

gasrock

November 10th, 2006, 04:30 AM

So Gibs for those still thinking of buying a unit in Sapphire, what percent of the units are sold already? Is the sales rate speeding up...slowing down ...or still steady?

laquacherra

November 10th, 2006, 06:41 AM

Yes, in fact, we have a plan for that already. It can be a 3-BR unit or a 2-BR unit, depending on the preference of the client.

http://i65.photobucket.com/albums/h229/gibsonyu/BTO5-1br1br3br2006-11-02-1BR1BR.jpg

so if say i want a 1 br + 1br = 2 br, would it also cost me (price of 1br) x 2? or would there be an added charge for the upgrade?

Dvorak

November 13th, 2006, 10:39 AM

Hi Gibson.. what's this news from cocktales?? is this true? I hope everything's ok now.

China detains top Chinoy architect
Wednesday, 8 November 2006

LEADING architect Gilbert Yu had been detained in China following complaints from his Filipino buyers about the non-completion of a residential condo in Fujian.

But his Ortigas office would not comment on the rumor, which was the talk of the Chinoy community since late last week, except to say that Yu was still overseas.

According to the grapevine, Yu was prevented from boarding his flight at the Shanghai airport because of certain unresolved government-related issues.

He has already been released after being apparently detained for a less than a week, according to two businessmen who had done projects with him, after Yu met and addressed the concerns of the regulatory authorities in Xiamen.

According to the Binondo grapevine, Yu's problem stemmed with the Pacific Plaza condo, a joint venture project with Avesco's Jimmy Tang, which had suffered unexplained delays.

Yu has completed dozens of buildings, hotels, and malls in the Philippines and the region, and the Pacific Plaza project is so far the lone known blemish in his otherwise sterling record.

Among the overseas projects his G & W architectural and project development consultancy firm has completed include the Marriott hotel branches in Vietnam, Hong Kong, and Xiamen.

Locally, his projects include the Insular Life building in Alabang, SM Bicutan annex C and D, Texas Instruments Baguio, Manila Diamond Hotel, SM Supercenter Sucat, and Robinsons Bacolod.

Yu, along with his brother Willie, are also credited for popularizing the build-to-own concept among condo unit buyers with his Hamptons and Kensington projects at the Fort.

Gibson@G&W

November 13th, 2006, 05:33 PM

Thank you for your concern Dvorak, actually, there is no cause for this concern! :)

We are currently discussing with our legal counsel about this matter, and seriously considering to file a case against the writer. COCKTALES is only a business chismis (rumor) column, where the statements need not be properly validated. We wanted to ignore it because, out of our 800 or so unit owners here in Bonfiacio Global City, only 3 approached me with this concern. However, our concern is really more about the personal attack on Arch. Gilbert C. Yu's reputation and the principle of responsible journalism where information should be published only after the facts are properly confirmed.

Inaccurate Information has been published

The Pacific Plaza towers in China were successfully completed since 2001, and are fully occupied. I was just there 2 weeks ago, and I stayed in our unit in The Pacific Plaza Towers (the building that the writer allegedly said was uncompleted)! There is an amazing pace of development in Xiamen (a city in Fujian province), and the towers are located in the middle of it all -- in front of the Sheraton Hotel, and about 2 blocks from the SM mall in Xiamen and the under construction Robinson's mall!

Sadly, the increasing success of the Build To Own System, and the benefits that this system brings to the homeowners are clearly hurting some other companies. Companies who may want to benefit through inaccurate articles like this in order to continue practicing their old ways.

The writer tried to call our office in Ortigas Center a day before the story came out, at a time when no one was there to address his queries. Despite not being able to validate any of his information, he went ahead and wrote about it anyway...citing "grapevine" as his source! :bash:

Business As Usual for Fort Bonifacio Projects

Rest assured, Build To Own projects in Fort Bonifacio are not going to be affected by these rumors. The Grand Hamptons Tower I is on the 6th floor of construction and is absolutely on schedule. The Grand Hamptons Tower II is being excavated and is moving 2 months ahead of schedule. The Sapphire Residences is also moving at an unprecedented pace in terms of unit take up.

illinoispt

November 13th, 2006, 06:59 PM

... how about the rest of the story ... was he detained in China? ... no complaints from Filipino buyers there in China?

Gibson@G&W

November 14th, 2006, 03:40 AM

... how about the rest of the story ... was he detained in China? ... no complaints from Filipino buyers there in China?

Nope, there are no complains from Filipino Buyers. He is in China on official business trip regarding The Pacific Plaza Towers.

A minority partner of the Developer group who hired us to build there is delayed in their tax payments for their share in the building. Arch.
Gilbert C. Yu was invited by the head of the tax collection bureau to assist them in collecting from them, as those partners are based in the Philippines.

Dvorak

November 14th, 2006, 04:22 AM

minsan nga wala lang masulat yang writer na yan..

I'm glad everything's OK.

3cr

November 14th, 2006, 09:35 AM

It can be a 3-BR unit or a 2-BR unit, depending on the preference of the client.

http://i65.photobucket.com/albums/h229/gibsonyu/BTO5-1br1br3br2006-11-02-1BR1BR.jpg

Very nice Gibs. Me like it very much! I would think the 2 bedroom layout of the combined units will be even more impressive as the living room will be alot bigger w/o the 3rd bedroom (middle bedroom labeled bedroom 1) there. Ganda! Good to hear also that the cocktales print is total bull crap.

realtor_manila

November 16th, 2006, 05:31 PM

http://i71.photobucket.com/albums/i143/cynchyap/The%205th%20BTO%20Project/IMG_0170.jpg

http://i71.photobucket.com/albums/i143/cynchyap/The%205th%20BTO%20Project/IMG_0168.jpg

http://i71.photobucket.com/albums/i143/cynchyap/The%205th%20BTO%20Project/IMG_0171.jpg

laquacherra

November 17th, 2006, 03:10 AM

^^ thanks, Cynch! wow, sapphire residences looks really good imo! :okay:

Gibson@G&W

November 17th, 2006, 03:50 AM

Thanks for posting the updates Cynch!

3cr - yeah, the 2-BR is a lot more spacious than the 3-BR. The unit has a dual personality, it is super practical if it is laid out as a 3-BR...being able to own a 3-BR in the Php 5M range. But if it is converted into a 2-BR it becomes more of a spacious 2-BR, that is bigger than most 2-BR here in Fort Bonifacio!

Dvorak - Thanks for your concern, and for posting here and giving me a chance to air our side. God knows what people would have thought if they read it by themselves, without the chance to ask us about it.

In all honesty, we have been there before, may times already. When I was young, some very competitive architects, did not want my father's application to be a member of the Philippine Institute of Archtiects (PIA) to be accepted, saying that he is not an architect, but a businessman. He then was accpeted as a member by the United Architects of the Philippines (UAP). Today, my father is an honorary fellow member (higest level of membership) in the PIA, as awarded...due to his donation of the know how of the BTO system, and the encouragement that all architects to expand their architectural practice. The award was given stating "For innovating the architectural profession throught ethical and non-traditional ways..."

When we started The Penhurst Parkplace back in 2002, many people were skeptical, and most competitors were dismissing our credibility, saying that it is too cheap to build anything with that price....that the quality will suffer for sure, and we would never finish the tower. Instead of voicing out and telling them we can do it...we just did through our actions. WE compelted it ahead of schedule, compared to all other develoepr...we had better quality that others as well.

In all cases, one has to choose which direction to set your targets on. In choosing to benefit the majority, there will ineveitably be a minority that will get affected.

tyronne

November 17th, 2006, 06:47 AM

it looks really nice and classy:okay:

Dvorak

November 17th, 2006, 06:49 AM

did you received the email that I sent Gibson??

I hope you can drop by on Sunday.

Thanks for posting the updates Cynch!

3cr - yeah, the 2-BR is a lot more spacious than the 3-BR. The unit has a dual personality, it is super practical if it is laid out as a 3-BR...being able to own a 3-BR in the Php 5M range. But if it is converted into a 2-BR it becomes more of a spacious 2-BR, that is bigger than most 2-BR here in Fort Bonifacio!

Dvorak - Thanks for your concern, and for posting here and giving me a chance to air our side. God knows what people would have thought if they read it by themselves, without the chance to ask us about it.

In all honesty, we have been there before, may times already. When I was young, some very competitive architects, did not want my father's application to be a member of the Philippine Institute of Archtiects (PIA) to be accepted, saying that he is not an architect, but a businessman. He then was accpeted as a member by the United Architects of the Philippines (UAP). Today, my father is an honorary fellow member (higest level of membership) in the PIA, as awarded...due to his donation of the know how of the BTO system, and the encouragement that all architects to expand their architectural practice. The award was given stating "For innovating the architectural profession throught ethical and non-traditional ways..."

When we started The Penhurst Parkplace back in 2002, many people were skeptical, and most competitors were dismissing our credibility, saying that it is too cheap to build anything with that price....that the quality will suffer for sure, and we would never finish the tower. Instead of voicing out and telling them we can do it...we just did through our actions. WE compelted it ahead of schedule, compared to all other develoepr...we had better quality that others as well.

In all cases, one has to choose which direction to set your targets on. In choosing to benefit the majority, there will ineveitably be a minority that will get affected.

theOCdiva

November 17th, 2006, 07:09 AM

Gibson,
My bad, so sorry. Didn't have the time to read-up other threads like this one except zoom-in on Serendra & BG-zens. Been darn too busy at work deploying a system and at home and family with the Thanksgiving holidays fast approaching. Really appreciate all the feedback!

I like it that G&W knows a thing or two about Math, i.e., 1 + 1 = 3! Wish I had known about BTO & your group earlier :)!

So the banks will take foreigners; that's good news. Will it be easier as far as docs are concerned to be a Filipino citizen (using dual citizenship process)?

Thanks again!

shufatid

November 17th, 2006, 09:24 PM

Gibson,

I'm happy to hear your side of the story. I was really surprised to read the Inq7 news online about Arch. Gilbert Yu. I'm an editor myself and I would never let that kind of story be published in my magazine without proper attributions from sources, so I understand G&W's frustration over the issue. Regardless, I think you guys handled it really well, but I believe a media release from your company would easily quell the rumours.

Good luck,
Jen

Gibson@G&W

November 18th, 2006, 07:46 PM

Gibson,
I like it that G&W knows a thing or two about Math, i.e., 1 + 1 = 3! Wish I had known about BTO & your group earlier :)!

So the banks will take foreigners; that's good news. Will it be easier as far as docs are concerned to be a Filipino citizen (using dual citizenship process)?

Thanks again!

Actually, I think it might be easier if you stick with your US citizenship. AS long as you are employed, with a cop of your W-2, or a recent payslip, then your approval should be a breeze.

Yup, we know about math...and synergy! haha, where 1+1 is not 2, but 3. Where the sum total is more than the sum of its components! hehe!

Gibson@G&W

November 18th, 2006, 07:49 PM

sugarboy

November 18th, 2006, 07:58 PM

hi Gibs, i passed by the area last week and saw that the site of this tower is far better than the previous ones. is the cost of a 1br higher as opposed to the previous towers? by how many%?

Dvorak

November 22nd, 2006, 05:22 AM

ehh sumundot na naman si Victor Agustin huh!!

Architectural turnabout

DETAINED Chinoy architect Gilbert Yu is set to finally return to Manila, perhaps as early as this weekend, after being detained in China over two botched condominium projects in his native homeland.

According to the grapevine, Yu had sought a meeting this weekend with Agriculture Secretary Arthur Yap, who was in Xiamen over the weekend, to thank him for quietly interceding with Chinese authorities to release Yu from detention and allow the top architect to settle whatever outstanding tax liabilities his Xiamen projects may have incurred.

Yu was apparently picked up from his Shanghai hotel late last month while he and his family were on a cruise. From Shanghai, he was brought to Xiamen, his ancestral province, where he was detained.

Luckily, Gloria Macapagal-Arroyo was also visiting China at that time, heard the story, and instructed Yap, who happened to have Yu as one of his wedding sponsors, to make the necessary representations.

According to one account, Yu's wife had to raise about $2 million to help settle the tax liabilities with the Xiamen authorities.

Yu rounded up a group of Filipino-Chinese investors during the go-go mid-90s to build two condominiums in their ancestral province, but the projects were caught by the regional currency crisis, cost overruns, and, in the case of the first project, literal soft ground.

According to the grapevine, the first project had 12 investors, including Jimmy Tang of Avesco, who was technically correct when he disputed a Cocktales item claiming that he was involved in Yu's Pacific Plaza project in Xiamen.

The second condo, the Pacific Plaza, had a different and bigger set of 42 investors, including Robert Ynson Sr. of the Phesco Group.

JLemmor

November 24th, 2006, 11:04 PM

Official website: http://www.sapphireresidences.com/sapphire-main.html

Gibson@G&W

November 26th, 2006, 08:06 AM

hi Gibs, i passed by the area last week and saw that the site of this tower is far better than the previous ones. is the cost of a 1br higher as opposed to the previous towers? by how many%?

Hello Sugarboy...

The Sapphire Residences' 1-BR is 48 sqm as compared to The Grand Hamptons' 46 sqm. Despite that, the price per sqm is not that different. The Sapphire Residences' price per sqm is about 3% higher back when TGH started...however, since all units are owned already, and construction has started already, you would be hard pressed to find anyone who will sell at original price.

Gibson@G&W

November 26th, 2006, 08:47 AM

Official website: http://www.sapphireresidences.com/sapphire-main.html

This is the official website of one of our major and most trusted partner :)

Gibson@G&W

November 26th, 2006, 09:10 AM

ehh sumundot na naman si Victor Agustin huh!!

His articles are getting better, but still not accurate.

No, it is not true that my mother had to raise $2 Million. haha!

It is true that Jimmy Tang is not part of Pacific Plaza, and a group of 42 investor speculators and also middlemen developers that hired our company in china to build for them in Xiamen. The company that we have established there in Xiamen is not G&W Architects, but a different company since there were many other partners and developers for this project.

It is true that the project hit the worst financial crisis in Asia, and worse of all, many of the so called developer partners (and speculators) abandoned the project financially. HOWEVER, despite this challenge, my father took it upon himself to ensure that the twin towers are completed...and indeed it is!

Sad but true, many of the same speculator developers who abandoned the project want to justify their abandonment by spreading rumors that the project is not finished....since it is located abroad many people cannot see the completed building, and do not refute this. But of course, one by one, people who go and visit xiamen, or see pictures of the completed twin towers realize the simple fact the towers are built!

I look at this event as a testament of our committment to deliver on our promises...despite adverse economic conditions, and abandonment by developers, we still completed The Pacific Plaza Towers. We have emerged stronger, and with more wisdom, knowing that partners who are in real estate for the purposes of profit, often forget their ethical responsibilities...the responsibilities attached to being in charge of building the most important and basic need of a human being, which is shelter. Therefore, it is with this knowledge that we position ourself to be able to better deliver on our ethical beliefs, by directly working with the end users/unit owners of the tower...because we know that they have the same intnetion as we do...to build good quality, build with reliability, and deliver in a timely manner, homes which are affordable to the end user.

With our current position, we can now focus and engage in what we do best, BUILDING HOMES, and not wory about speculators who pull out of their responsibility, with the mere sight of minor financial losses.

realtor_manila

November 26th, 2006, 04:21 PM

This is the official website of one of our major and most trusted partner :)

Gibs! You don't trust me?

realtor_manila

November 26th, 2006, 08:37 PM

:cry: WAAAAAAAAAAAAAAAAAAH! (Sounds please! )

laquacherra

November 27th, 2006, 04:06 AM

^^ Cynch, i think it was just a clarification that the website isn't G&W's but their partner's... well, at least I thought it was so thanks for the clarification, Gibson :)

This is the official website of one of our major and most trusted partner :)

Official website: http://www.sapphireresidences.com/sapphire-main.html

JLemmor

November 27th, 2006, 06:50 AM

I thought so too. The most complete info so far about Sapphire and awesome website.

macky

November 27th, 2006, 09:27 AM

I hope to see more G&W projects sa BGC area. Their designs gets better and better.

Gibson@G&W

December 8th, 2006, 09:49 AM

Gibs! You don't trust me?

Hay Cynch...of course I trust you! Why do you think I share with you all the ideas I have?! :) Actually, I trust you so much that I can leave all the updating of pictures in your capable hands! :) hehe!

Gibson@G&W

December 8th, 2006, 10:26 AM

I hope to see more G&W projects sa BGC area. Their designs gets better and better.

Thanks for the compliment Macky...we are very happy that our efforts to continually improve are noticed by our friends! :)

We are also quite pleased that more and more companies are starting to copy our system (ultimately better for the consumers)...although many systems similar to ours have come and gone over the years (remember communidades?)

BTO system's success is due to its protection, but a majority of it's success is also due to the company's experience and credibility!

We have more tricks up our sleeves...:)

realtor_manila

December 9th, 2006, 06:56 AM

Hay Cynch...of course I trust you! Why do you think I share with you all the ideas I have?! :) Actually, I trust you so much that I can leave all the updating of pictures in your capable hands! :) hehe!

Since you trust me..... :)

Getting in on the Action in BGC and How to Make a Sound Real Property Investment

--------------------------------------------------------------------------

The growing demand for real property from expatriate Filipinos (especially those based in the US), coupled with the downward trend in interest rates have fueled the robust growth of the real estate industry. This confluence of favorable conditions is simply too good an opportunity to ignore, thus the increasing number of new players in the real estate industry.

In Bonifacio Global City (BGC) alone, there are three (3) new players which will launch their condominium developments in December. Marketing of these projects will go full blast next year. This is not to mention the existing developers which also plan to launch their developments either this December or during the following year.

This trend has invariably resulted in a situation wherein most projects in a particular price point have almost identical features, giving an impression that one project is the clone of another. This makes it difficult for prospective buyers to differentiate one from the other. This apparent cluttering begs the question as to what makes each property project distinct from the other.

As a real estate broker who has been working closely with clients based abroad, I endorse to clients only those projects which I personally believe in. This belief is anchored on the following principles:

a) Track record of the developer/builder.

A thorough background research of the developer/builder is conducted before endorsing a particular project to a client. The background check should be able to provide answers to some defining questions, such as:
 How many projects has this developer built?
 How many of the projects built by this developer were delivered on time? How many were not, and what were the reasons for non-delivery on time?

b) Quality of the condominium

The projects of a particular developer/builder is assessed as to their level of quality. Are they of acceptable quality? Did they deliver on their “promise” to condominium unit buyers?

In general, potential buyers of real property should have a real estate consultant who will look after their interests. Therefore, engaging the services of an experienced buyer’s broker with a solid track record in real estate consultancy is the best starting point when investing in real estate in the Philippines.

Related Article:

9 Tips on how to buy a condo in the Philippines
http://www.fortboniconsultancy.com/related_9tips.php

Source: http://www.fortboniconsultancy.com/blog/

Gibson@G&W

December 9th, 2006, 08:48 AM

Hello Cynch...

Very nice write up! I totally agree about the current situation! More and more porjects are on the rise, as the economy is really shaping up to be ripe for real estate!

Furthermore, I also agree on how many new projects are trying to make themselves similar to the existing successful projects. But to add to that, I think you need to mention, or people should also understand, that no matter how similar they may look in presentation...all are fundamentally different...and it takes a professional, independent real estate consultant with integrity to really give clients all the informaiton they need to be able to choose properly.

As an example of what I mean by similar presentation, but fundamentally different is the Trustee/Escrow Bank...

Since the inception of Penhurst Parkplace, virtually all new entrants in the real estate market here in FBCG has copied that aspect of the BTO system and advertised to have Trustee/Escrow Bank services...however, not a single company's Trustee and Escrow agreement is the same! Some are so different to the point of only offering a false sense of security. The whole idea of this service is NOT to allow the developer/project manager/architect to touch the client's funds unless proper progress has been done...however, I have reviewed enough of the contracts from companies here in FBGC to know that most still have a loophole that allows access to the funds without proper progress in construction.

Gibson@G&W

December 9th, 2006, 09:04 AM

Cynch, I really like your website...its got a lot of good information! I don't think I have seen anyone here in the Philippines bring up the level of Property Consultant profession mush like you did!

Given that the economy is doing very well, and is ripe for real estate investment, I think we still need to also address the need for information that clients abroad need.

The combination of good economy plus professional real estate industry will really make the Philippines one of the most attractive places to invest in real estate.

Moreover, the Philippines is shaping up to be one of the best places to retire...and we have already seen many people from abroad who have no Filipion roots, decide to come here for retirement. If informaiton that you provide in your website is easily available, then it will make this particular market segment grow at a much faster rate, broadening the market reach of our country...and I am sure also increasing jobs in other sectors of the economy.

Gibson@G&W

December 9th, 2006, 09:15 AM

For those who have not seen the Kensington Place Thread...we are very pleased to give a concluding message for the completion of this tower...this is the 2nd build to own tower completed here in BGC, that was completed using the same system as this thread, The Sapphire Residences

_______________________________________________________________

Hello Everyone, I though I would post a concluding message for this thread...I really enjoyed posting here and reading about what people say about The Kensington Place. Its been quite hectic handling all the turn-over tasks for the building, and now that residents are moving in, and completing their fit-out, the tower is really shaping up to be an excellent place to live in.

Our goal was really to build a tower that people would use, and live in. It is really a fulfillment personally, and for our company to see all the unit owners coming into the lobby one by one to get the turnover of their units.

Here are some pictures that I wanted to share to everyone....

The Kensington Place main lobby

http://i65.photobucket.com/albums/h229/gibsonyu/_DSC3070.jpg

The Kensington Place exterior photo

http://i65.photobucket.com/albums/h229/gibsonyu/_DSC3148.jpg

HOME FOR THE HOLIDAYS AT THE FORT
FOR BUILD TO OWN HOME OWNERS

G&W Architects the pioneer of the Build to Own system, delivers its commitments of 40% savings in building homes and an on-schedule delivery of units (all within a short construction period of only 24 months) – in prime bustling Fort Bonifacio Global City.

Topping the list of 2006 achievements is the on-schedule completion of Kensington Place on August 30, 2006, the second Build-To-Own Tower. Kensington Place started construction in September, 2004. The units were completed and turned over to their respective unit owners, in time for a pre-Christmas move in. As the song goes, they'll be home for the holidays!!!
And as it is the season for bonuses, the patrons of Kensington Place get numerous upgrades in the building amenities. G&W Chief Executive Architect Terence Yu said, "The units we design are intended to be homes, something close to the heart, intimate. It is where they will start families, build dreams… Thus utmost compassion was extended in building this tower. The building amenities upgrades were added simply because it is something I personally would be comfortable living in."

Without the added cost, homeowners now enjoy:
a) Additional fully air-conditioned function room in the roof deck with a clear view of Manila golf and Makati skyline.
b) Automated main entrance door, and a 5-star level lounge in the main lobby
c) Additional Game Room in the lobby area beside the function room
d) Additional SPA amenities, such as sauna and steam facilities in the pool area, and;
e) Heated swimming pool.

The third BTO project – The Grand Hamptons Tower I which started construction earlier in the year is undergoing full blast 24/7 construction. The promised delivery on December 2007 is well on the targeted schedule.
"The delivery timeframe for each tower is very important as we believe that earlier delivery means more savings for unit owners!" said lead Architect Terence Yu. "When a unit is turned over a month ahead of schedule, that redounds to one month less rent that unit owners have to pay to live elsewhere. With the unit owners' benefit in mind, we keep a strict 24/7 construction schedule."

Moreover, G&W Architects posts ahead of schedule ground breaking of the Grand Hamptons Tower 2 last October 10, 2006, the construction of this fourth BTO project is currently three months ahead of its original schedule. This is in-line with the goal to deliver Tower 2 as close as possible to Tower I.
These accomplishments are no ordinary feats. But as G&W Architects has proven that BTO system works best for homeowners by setting new levels of service and quality in the construction and housing industry. By working directly with professionals, who are experts in building homes, owners are assured that each and every hard earned peso goes to the building of their home, ensuring the best possible quality.

Find out more about the BTO system by accessing www.gw-architects.com/thesapphire

realtor_manila

December 11th, 2006, 05:51 AM

theOCdiva

December 12th, 2006, 07:23 AM

Congratulations, Gibs! You be proud! :cheers1:

I'll keep you in mind for future opportunities and endeavors!

Tilapia

December 19th, 2006, 01:24 AM

realtor_manila

December 19th, 2006, 04:24 AM

What is the located around the Sapphire? In other words, are there buildings directly next to the Sapphire? From the map, it looks like the Grand Hamptons and Penhurst/Kensington will block the golf view. What about the other sides?

Hello Tilapia!

Please refer to this map for your guide. No golf views. At the back and at the side of the Sapphire Residences, there are vacant lots. Expect these vacant lots to be sold in the future and therefore, new condos will be constructed there.

I'll send you a PM.

Sincerely,

Cynch

http://i5.photobucket.com/albums/y195/aaron_ofngol/TFR_SR_Map.jpg

PLCMarketing

December 19th, 2006, 05:17 AM

For those who have not seen the Kensington Place Thread...we are very pleased to give a concluding message for the completion of this tower...this is the 2nd build to own tower completed here in BGC, that was completed using the same system as this thread, The Sapphire Residences

_______________________________________________________________

Hello Everyone, I though I would post a concluding message for this thread...I really enjoyed posting here and reading about what people say about The Kensington Place. Its been quite hectic handling all the turn-over tasks for the building, and now that residents are moving in, and completing their fit-out, the tower is really shaping up to be an excellent place to live in.

Our goal was really to build a tower that people would use, and live in. It is really a fulfillment personally, and for our company to see all the unit owners coming into the lobby one by one to get the turnover of their units.

G&W Architects the pioneer of the Build to Own system, delivers its commitments of 40% savings in building homes and an on-schedule delivery of units (all within a short construction period of only 24 months) – in prime bustling Fort Bonifacio Global City.

Topping the list of 2006 achievements is the on-schedule completion of Kensington Place on August 30, 2006, the second Build-To-Own Tower. Kensington Place started construction in September, 2004. The units were completed and turned over to their respective unit owners, in time for a pre-Christmas move in. As the song goes, they'll be home for the holidays!!!
And as it is the season for bonuses, the patrons of Kensington Place get numerous upgrades in the building amenities. G&W Chief Executive Architect Terence Yu said, "The units we design are intended to be homes, something close to the heart, intimate. It is where they will start families, build dreams… Thus utmost compassion was extended in building this tower. The building amenities upgrades were added simply because it is something I personally would be comfortable living in."

Without the added cost, homeowners now enjoy:
a) Additional fully air-conditioned function room in the roof deck with a clear view of Manila golf and Makati skyline.
b) Automated main entrance door, and a 5-star level lounge in the main lobby
c) Additional Game Room in the lobby area beside the function room
d) Additional SPA amenities, such as sauna and steam facilities in the pool area, and;
e) Heated swimming pool.

The third BTO project – The Grand Hamptons Tower I which started construction earlier in the year is undergoing full blast 24/7 construction. The promised delivery on December 2007 is well on the targeted schedule.
"The delivery timeframe for each tower is very important as we believe that earlier delivery means more savings for unit owners!" said lead Architect Terence Yu. "When a unit is turned over a month ahead of schedule, that redounds to one month less rent that unit owners have to pay to live elsewhere. With the unit owners' benefit in mind, we keep a strict 24/7 construction schedule."

Moreover, G&W Architects posts ahead of schedule ground breaking of the Grand Hamptons Tower 2 last October 10, 2006, the construction of this fourth BTO project is currently three months ahead of its original schedule. This is in-line with the goal to deliver Tower 2 as close as possible to Tower I.
These accomplishments are no ordinary feats. But as G&W Architects has proven that BTO system works best for homeowners by setting new levels of service and quality in the construction and housing industry. By working directly with professionals, who are experts in building homes, owners are assured that each and every hard earned peso goes to the building of their home, ensuring the best possible quality.

Hi Gibson....

Congrats on a project WELL DONE !

All the best for 2007

:banana:

Merry Christmas & Have a Great 2007.....

Regards
Beth

PLC International Manila
http://www.lancastersuites.com

realtor_manila

December 26th, 2006, 05:11 PM

Good news!

The ground breaking of The Sapphire Residences has been moved to an earlier date --- This will be on February 2007! (Previous ground breaking date was previously set on March 2007).

Therefore in 2007, you will see 3 condos being constructed along 31st Street, E-Square, Crescent West Parc: The Grand Hamptons -Tower 1 (ongoing construction), The Grand Hamptons -Tower 2 (ongoing excavation) and The Sapphire Residences. :banana:

Bonifacio Global City (BGC) is a COOL, COOL place! Galing talaga! :) :banana:

Gibson@G&W

January 30th, 2007, 05:41 PM

Just an update today...all 1-BR and 2-BR units are gone! ony a few 3-BR units left! Just finalized a new property purchase from FBDC...new project coming! Construction is starting soon, just finalizing some details!

sugarboy

January 30th, 2007, 11:31 PM

crappypants

January 31st, 2007, 12:13 AM

nice interior in the lobby.
Will the sapphires facade be more glassy?
So all the 2 bedrooms are really sold out? When is the delivery date of the Sapphire?

Lili

January 31st, 2007, 12:18 AM

Just finalized a new property purchase from FBDC...new project coming! Construction is starting soon, just finalizing some details!

I'm looking forward to news about this new project!

Dvorak

January 31st, 2007, 03:59 AM

wow new project na naman! congrats Gibson!

Just an update today...all 1-BR and 2-BR units are gone! ony a few 3-BR units left! Just finalized a new property purchase from FBDC...new project coming! Construction is starting soon, just finalizing some details!

Gibson@G&W

January 31st, 2007, 07:47 AM

gibs, just wondering. though all 1-BR and 2-BR units are gone, meron pa naman kung minsan na hindi natutuloy sa reservation nila diba? having said this, would it be likely that a 1-BR and a 2-BR may open up again?

Sugarboy, you are correct, although the reservation fees are non-refundable, it is possible for clients to not continue with their purchase. Although after placing a 75,000 or 50,000 reservation this is already very unlikely. I find that many people these days are very careful about their money, and every single peso counts.

In the unlikely event that a client does forfeit, the units will then be opened for other potential unit owners. On average, in our past project, we experience about 5 forfeits.

There are also other instances when a unit owner decides to upgrade to a different unit in a different building...ie a Grand Hamptons 1-BR unit owner may decide that they want to move to a 2-BR unit is The Sapphire...we usually allow this, and the 1-BR would then be opend for others.

Gibson@G&W

March 4th, 2007, 10:34 AM

http://i65.photobucket.com/albums/h229/gibsonyu/bluesapphire-penthouse.gif

Gibson@G&W

March 4th, 2007, 10:40 AM

Soon to be launched...6th Build To Own Tower

http://i65.photobucket.com/albums/h229/gibsonyu/Logo.jpg

condo_dude

March 4th, 2007, 11:37 AM

Wow, Gibson! Your latest Sapphire rendering looks like an architectural masterpiece! The trees on the roof create a very rich natural appeal.

You may wish to start a new thread for the Blue Sapphire, so as not to confuse people. (Even so, I can foresee all kinds of confusion from visitors to the two Sapphires -- are you sure you don't want to call it the "Ruby" or "Emerald" or something? The building might last a century, and that's an awful lot of confused drivers, friends, and delivery people.)

Anyhow, I look forward to seeing more of your world class construction in FBGC.

pau_p1

March 4th, 2007, 03:17 PM

wow another Sapphire... i guess it will rise next to it right...

realtor_manila

March 4th, 2007, 05:14 PM

wow another Sapphire... i guess it will rise next to it right...

The Blue Sapphire Residences is located at the back of The Grand Hamptons - Tower 1.

flymordecai

March 4th, 2007, 09:49 PM

Is The Blue Sapphire Residences different from the first Sapphire Residences or did the name just change? Either way it (or both) looks good, even though similar (twins?).

I'd like to buy a condo in FBGC, but I'm only a college student right now. Maybe after I'm done with school!

diz

March 4th, 2007, 09:51 PM

^^ Trees! I was right. :okay:

IsaRic

March 4th, 2007, 11:05 PM

i noticed that the water on the render is moving... lol... i wanna jump in!

Gibson@G&W

March 15th, 2007, 10:53 AM

http://i65.photobucket.com/albums/h229/gibsonyu/GroundBreakingPhoto.jpg

The Sapphire Residences Ground Breaking

G&W Architects the pioneer of the architect led Build-to-Own (B-T-O) system ground breaks The Sapphire Residences at Bonifacio Global City, Taguig. Located in the prime Crescent West area, sandwiched between Manila Golf and the 2.8 hectare Crescent Park, the tower is the fifth from architects who love the buildings they build. G&W's B-T-O system is the fastest to complete and has the most reliable track record in terms of on-time delivery. It offers the advantage of directly hiring a team of architects and construciton industry professionals to build the tower at direct cost saving as much as 40 percent for the home owners.

Present in the event were:
New Golden City Builders (NGCB) - General Contractor
Engr. Ramon Gabaldon - Vice President
Engr. Ritz Espiritu - Senior Project Engineer
Engr. Danny Carangdang - Project Engineer

Asian Technicon - Construction Managers
Arch Lily A. Pio Roda - President and CEO
Teofilo B. Nebres - Senior Project and Construciton Manager
Arch. Ronald S. Banania - Construction Manager

G&W Architects - Architect and Project Manager
Arch. Daniel Terence O. Yu - Cheif Executive Architect
Gibson Yu - B-T-O Business Development Manager
Arch. Princeton Chua - Senior Architect
Nems Lagrana - Vice President Marketing
Brian Rea - Marketing Manager

Dvorak

March 15th, 2007, 11:18 AM

congrats Gibson!

hehehe unang tiingin kala ko si GMA yung katabi mo.

Gibson@G&W

March 15th, 2007, 11:32 AM

congrats Gibson!

hehehe unang tiingin kala ko si GMA yung katabi mo.

Haha! Oo nga noh! She is actually Arch. Lily A Pio Roda, the president and CEO of Asian Technicon, Construction Manager. They are new members of the construction team...I am asking for another copy of their company profile, so we can post it...but I believe they are also construction managers for some Ayala projects. They will be the construciton manager assigned to The Sapphire Residences.

Gibson@G&W

March 15th, 2007, 12:08 PM

The Philippines’s Top 10 Architecture Firms

Abstract: BCI Asia bestows awards to the 10 most active architectural firms in the Philippines.

The Philippines’ Top 10 architecture firms were bestowed awards today by BCI Asia, the construction media group, in recognition of their contribution to the built environment for 2007.

In alphabetical order, the winners of the BCI Asia Top 10 Award 2007 are ASYA Design Partner (Albert S. Yu & Associates), G & W Architects + Engineers, Project Development Consultants, Jose Siao Ling & Associates, Palafox Associates, Pimentel Rodriguez Simbulan & Partners (PRSP), R. R. Payumo + Partners, Architects, R. Villarosa Architects, Recio + Casas Architects, RVP Design and Development Consultants Inc. and WV Coscolluela & Associates.

The BCI Asia Top 10 Awards were bestowed in an exclusive ceremony at Hotel Intercontinental in Manila. The Top 10 firms have the highest accumulated value of active projects in their portfolios, as reported in BCI Asia’s information services for Philippines in the year through to 30 September 2006. The BCI Asia Top 10 Awards are being presented in eight distinct architectural markets, namely the People’s Republic of China, Hong Kong SAR, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam.

To identify the 80 winners of the Top 10 Awards for these markets, BCI Asia conducted more than a quarter of a million interviews with architects, developers, engineers and contractors; reporting on more than US$400 billion worth of projects in the year to 30 September 2006.

During today’s ceremony BCI Asia CEO Dr Matthias Krups said: "When we conceived the Top 10 idea our motivation was to recognize architectural firms that had the greatest impact on the built environment in Southeast Asia and China. Little did we know that in the space of only three years the BCI Asia Top 10 Award would become one of the most coveted prizes in architecture in Asia."

"Take a look at the numbers in the Philippines and you understand the direct impact Top 10 architectural firms have on people’s lives: the Top 10 firms in the Philippines have designed over 40,000 residential units, hospitals for over 1,800 patients, educational facilities for close to 6,700 students, over 1,800 hotel rooms and over 220,000 square meters of recreational and sports due to start construction this year," he said.

At today’s ceremony, architect Professor Ding Jiemin, of the acclaimed Architectural Design & Research Institute of Tongji University , a Top 10 firm for China, reviewed architectural trends in his own market and how spaces were being designed for people.

The Top 10 Awards are supported by innovative companies providing building technologies for architects to create excellent architectural spaces: Nippon Paint and SCHOTT are patrons for the Top 10 Awards 2007 for all of Southeast Asia and Greater China; Autodesk and Shell are patrons for Southeast Asia while Hunter Douglas is the patron for the Philippines.

Design Awards for specific projects were bestowed at the ceremony by patrons of this year’s awards. The SCHOTT Design Award for Architecture Glass 2007 went to PRSP Architects. Autodesk, Hunter Douglas, Nippon Paint and Shell Bitumen announced prizes for recipients of the BCI Asia Top 10 Award 2007 in honour of their achievement.