MANDALUYONG | One Shangri-La Place [64Fx2|227m|mix] - Page 61

amarula · May 31st, 2012, 10:13 AM

Quote:

Originally Posted by bluesINC

Back then I find it ridiculous for my brother who bought a parking slot in Joya for 600k. Here we are seven years later it is now 1million plus plus. I still have to confirm their current rental fee. If it is 30k, I will buy ten!

400k+ in 7 years is not that much. If you invested the initial 600k in a term deposit, stocks etc you will get more than that in less than 7 years.

anakngpasig · May 31st, 2012, 04:42 PM

speaking of stocks, if one bought 600k worth of Calata stocks on its IPO last week (yes, that's last week), it's now worth around 1.4 million today

amarula · May 31st, 2012, 07:27 PM

Quote:

Originally Posted by anakngpasig

speaking of stocks, if one bought 600k worth of Calata stocks on its IPO last week (yes, that's last week), it's now worth around 1.4 million today

Now that's the type of investing I like!!!

bluesINC · May 31st, 2012, 10:07 PM

It's a necessity for him to park his car that was his main reason of buying. If he wants to invest, im sure he will put it somewhere else. He didnt bought for just the purpose of making more money out of it. Im just saying it does appreciate... a little though.
The investment thing is easier said than done. Not all people has the investment prowess. If we do, we are all rich as Warren Buffett.
Buying a parking slot depends on the need of the unit owner. To each his own I guess.

queetz@home · May 31st, 2012, 11:10 PM

Quote:

Originally Posted by amarula

30k a month! That is like your renting out a unit. I guess land in Manila is more expensive than other areas

No kidding, eh? You can rent one or two studio units in Cityplace Towers for the amount they want to charge me to rent parking.

Though it is true land is expensive there. My property tax is four times on a condo that is 3/4 the size of my Ortigas condo.

Quote:

Originally Posted by amarula

If I'm earning that much on my parking slot a month. I would definitely buy a few.

Same here, but as previously mentioned, they refuse to sell me one. So even if I want parking for myself, I have no choice but to lease.

Quote:

Originally Posted by OSP

I'm pretty sure you got the figures skewed. No one would pay P30k a month for a parking space in Manila.

Or more accurately, Megaworld trying to rip *me* off. Though to be fair, this was in December 2010 when they were offering this, and given that the Richmonde Hotel portion is essentially cancelled, things may have changed since then.

Alex50 · June 1st, 2012, 01:03 PM

Hi everyone.
I had an interesting time reading this thread as I am currently interested to invest in a condo in Manila. One Shang is my favorite because I like high rise and I also know the place well since I had the chance to stay in one of the condos in Shang Saint Francis for a year.
I have a question though and its one of the major turn-off points for me to buy with One Shang. I have read on this website, though I cant remember on which thread exactly (and heard from a real estate agent as well) that Shangri La Plaza will be toped in the next few years by high rise residences comparable to Saint Francis towers and One Shang. Now it seems difficult to confirm those rumours..Does anyone know about this project? Thank you

OSP · June 1st, 2012, 04:32 PM

Quote:

Originally Posted by Alex50

Hi everyone.
I had an interesting time reading this thread as I am currently interested to invest in a condo in Manila. One Shang is my favorite because I like high rise and I also know the place well since I had the chance to stay in one of the condos in Shang Saint Francis for a year.
I have a question though and its one of the major turn-off points for me to buy with One Shang. I have read on this website, though I cant remember on which thread exactly (and heard from a real estate agent as well) that Shangri La Plaza will be toped in the next few years by high rise residences comparable to Saint Francis towers and One Shang. Now it seems difficult to confirm those rumours..Does anyone know about this project? Thank you

Hi Alex,

Welcome to this forum. It is highly unlikely that Shang Properties will build another high rise on top of existing Shangri-la Mall unless they decided to demolish the mall and rebuild it from foundation up with a new high rise. I may be wrong but it is impossible to build on top of an existing structure that are not design to support the load of another high rise building.

Alex50 · June 1st, 2012, 05:27 PM

Hi OSP,
Yes you are probably right, building high rise residences on top an existing structure would be hardly possible. What my contact said is that they would build a new mall, putting down the old one while taking full advantage of the fact that in the meantime they would still have the newly built podium mall for their customers. But again that is just rumors. i have talked to a sales agent from One Shang he said its not going to happen. Though hearing those rumors certainly does not reassure me since I would be buying a unit for enjoying among other things the breathtaking view of manila bay.

amarula · June 1st, 2012, 05:45 PM

Hi Alex welcome to this forum

I hope they don't build because it will irritate alot of their clients who bought in OSP. Also aesthetically, it would look terrible with so many buildings densely grouped together in a very small area. I remember one of Shang Properties selling point was that OSP would be the last condominium project in Shangrila Place, so its really your last chance to own a place in this exclusive neighbourhood. Well, that was what they were telling me but you never know what the future holds.

With preselling projects you don't really know what view you will get till its all finished and there's no guarantee that it won't be covered by future developements. Even if Shang doesn't build on top of Shang Mall the Greenfield district developement across Edsa will surely block the views for Manila Bay Side Units.

Alex50 · June 1st, 2012, 06:17 PM

Thanks Amarula. I did not know about this Greenfield development project. Do you know how high would be the buildings of this development? I mean if I have a unit located at 60th floor I think I may still have a fair chance not to have the view blocked. Well hopefully...

amarula · June 1st, 2012, 06:37 PM

Yes at the 60th floor your unit probably won't get blocked. Here is the greenfield districts first building called Twin Oaks http://www.skyscrapercity.com/showthread.php?t=957974 . You can read more about it there. They are trying to make a self contained city/district like Eastwood. Hopefully they follow the original planning where they have devoted large areas of the land to parks and open spaces.

Alex50 · June 1st, 2012, 07:04 PM

Ok thank you. Actually if its not too high it can be a nice addition to the landscape. Also it might help to promote the area and could increase the rate per sqm for the already existing developments around it. Now when it comes to the original planning, its rarely what becomes the end product. I hope they don't become like Eastwood where its way too crowded with constructions litterally side by side.

ShangInvestor · June 3rd, 2012, 12:48 AM

Quote:

Originally Posted by Alex50

Hi OSP,
Yes you are probably right, building high rise residences on top an existing structure would be hardly possible. What my contact said is that they would build a new mall, putting down the old one while taking full advantage of the fact that in the meantime they would still have the newly built podium mall for their customers. But again that is just rumors. i have talked to a sales agent from One Shang he said its not going to happen. Though hearing those rumors certainly does not reassure me since I would be buying a unit for enjoying among other things the breathtaking view of manila bay.

Not sure if it would be feasible to tear down the old mall just to put up new residential towers on top as the costs of lost rental revenue and building the new mall will likely eat up the profits from the new towers. The rents they will charge for the new mall will likely be near market rate (I'm assuming they'll charge slightly higher since it will be new) and taking into account higher construction costs so there's no clear advantage for Shang to tear it down. Shangri-la mall would easily lose 2 years of rental income if they tear the mall down plus cost of building it. One top of that, a newly expanded SM Megamall would alienate a huge chunk of loyal Shang customers during construction. So the new towers to me would not make sense for a mall operator. Heck, any mall operator in the country can put up a residential tower on top of an existing mall such as the Landmark in Makati but we don't see that becoming a standard practice.

3cr · June 3rd, 2012, 01:00 AM

Quote:

Originally Posted by Alex50

Hi everyone.
I had an interesting time reading this thread as I am currently interested to invest in a condo in Manila. One Shang is my favorite because I like high rise and I also know the place well since I had the chance to stay in one of the condos in Shang Saint Francis for a year.

I have a question though and its one of the major turn-off points for me to buy with One Shang. I have read on this website, though I cant remember on which thread exactly (and heard from a real estate agent as well) that Shangri La Plaza will be toped in the next few years by high rise residences comparable to Saint Francis towers and One Shang. Now it seems difficult to confirm those rumours..Does anyone know about this project? Thank you

I think there's enough building towers already in Shang Mall area so even if they can, I hope they actually don't. Just that putting up more towers there will only make an already congested area even worse. Better not exacerbate an already bad situation. I can only imagine the traffic nightmare in the area when One Shang Place is finally online and units occupied already and add that the exisitng occupants in the already existing St. Francis twins. Siguradong grabe traffic diyan kung ngayon pa nga lang ma-traffic na especially during rush hour.

marv · June 4th, 2012, 03:25 AM

They should build foot bridges like in Makati, the pedestrian traffic makes it more congested if its on vehicular path. I wish they will not build anymore twin towers in that area, luxury condos should have good views.

InfinitiFX45 · June 4th, 2012, 03:34 AM

Guys, I found this on photobucket, it's a bit fuzzy !!!

Source: http://media.photobucket.com/image/r...0120509OSP.jpg

Coniocondo · June 4th, 2012, 04:18 AM

Quote:

Originally Posted by marv

I wish they will not build anymore twin towers in that area, luxury condos should have good views.

Not gonna happen. Developers will build and sell as long as people buys them. That way, they can build even more from the moolah.

Alex50 · June 4th, 2012, 11:53 AM

It can happen that Shangri La decides to build more high rise building in that part of Ortigas. If you think about Ayala they have plenty of land wherein to build more development, Shangri La being a foreign company has limited space of its own for more constructions. It could make sense that they try to maximise constructions on what land they have, and if you look at Shangri La Plaza, there is plenty of space for more buildings.

ShangInvestor · June 4th, 2012, 12:21 PM

Quote:

Originally Posted by Alex50

It can happen that Shangri La decides to build more high rise building in that part of Ortigas. If you think about Ayala they have plenty of land wherein to build more development, Shangri La being a foreign company has limited space of its own for more constructions. It could make sense that they try to maximise constructions on what land they have, and if you look at Shangri La Plaza, there is plenty of space for more buildings.

I beg to differ. Shang has the "moolah" to build up a land bank in Metro Manila. The Parent is listed in several exchanges and has the capacity to raise cash from the market to finance land purchases if needed. There is a lot of land in Metro Manila and there are Corporations out there that would be willing to part with their plots at the right price (which is why SM is trying to own half of Ortigas). IMO, a developer would rather build a condo on an empty lot and develop it in 2 years than demolish an existing property that is generating profits just to build a condo on top and take 5 years to complete and generate losses in the process. Doesn't make business sense to me unless the new condos are priced sky-high. Even if they build a new condo on top of Shangri-la mall and offer the units at a premium price, who would be stupid enough to pay a very high price for units facing OSP side? I'm sure that is something the developer would consider before it embarks on this type of project.

amarula · June 4th, 2012, 02:09 PM

I Agree with ShangInvestor. Also they can't demolish Shang Plaza because Rustan's just had a multi-million peso renovation and I think it just finished. When I was there in Feb the renovations were still ongoing. Anyway, I don't think Shang will demolish the plaza when one of their anchor tenants just had a huge renovation.

May 31st, 2012, 04:42 PM	#1202
anakngpasig recovering assaholic Join Date: Jul 2005 Location: Ciudad Pasig Posts: 2,328 Likes (Received): 169	speaking of stocks, if one bought 600k worth of Calata stocks on its IPO last week (yes, that's last week), it's now worth around 1.4 million today __________________ Ne’er shall invaders trample thy sacred shoal.

June 4th, 2012, 03:25 AM	#1215
marv Registered User Join Date: Apr 2007 Location: Texas Posts: 455 Likes (Received): 0	They should build foot bridges like in Makati, the pedestrian traffic makes it more congested if its on vehicular path. I wish they will not build anymore twin towers in that area, luxury condos should have good views. Last edited by marv; June 4th, 2012 at 03:31 AM.

June 4th, 2012, 03:34 AM	#1216
InfinitiFX45 Registered User Join Date: Aug 2009 Location: NOVA Posts: 2,937 Likes (Received): 183	Guys, I found this on photobucket, it's a bit fuzzy !!! Source: http://media.photobucket.com/image/r...0120509OSP.jpg __________________ InfinitiFX45 Last edited by InfinitiFX45; June 4th, 2012 at 03:57 AM.

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May 31st, 2012, 10:07 PM	#1204
bluesINC Homeless Join Date: May 2012 Posts: 13 Likes (Received): 0	It's a necessity for him to park his car that was his main reason of buying. If he wants to invest, im sure he will put it somewhere else. He didnt bought for just the purpose of making more money out of it. Im just saying it does appreciate... a little though. The investment thing is easier said than done. Not all people has the investment prowess. If we do, we are all rich as Warren Buffett. Buying a parking slot depends on the need of the unit owner. To each his own I guess.

June 1st, 2012, 01:03 PM	#1206
Alex50 Registered User Join Date: Jun 2012 Posts: 26 Likes (Received): 1	Hi everyone. I had an interesting time reading this thread as I am currently interested to invest in a condo in Manila. One Shang is my favorite because I like high rise and I also know the place well since I had the chance to stay in one of the condos in Shang Saint Francis for a year. I have a question though and its one of the major turn-off points for me to buy with One Shang. I have read on this website, though I cant remember on which thread exactly (and heard from a real estate agent as well) that Shangri La Plaza will be toped in the next few years by high rise residences comparable to Saint Francis towers and One Shang. Now it seems difficult to confirm those rumours..Does anyone know about this project? Thank you

June 1st, 2012, 05:27 PM	#1208
Alex50 Registered User Join Date: Jun 2012 Posts: 26 Likes (Received): 1	Hi OSP, Yes you are probably right, building high rise residences on top an existing structure would be hardly possible. What my contact said is that they would build a new mall, putting down the old one while taking full advantage of the fact that in the meantime they would still have the newly built podium mall for their customers. But again that is just rumors. i have talked to a sales agent from One Shang he said its not going to happen. Though hearing those rumors certainly does not reassure me since I would be buying a unit for enjoying among other things the breathtaking view of manila bay.

June 1st, 2012, 05:45 PM	#1209
amarula Registered User Join Date: Oct 2010 Posts: 312 Likes (Received): 0	Hi Alex welcome to this forum I hope they don't build because it will irritate alot of their clients who bought in OSP. Also aesthetically, it would look terrible with so many buildings densely grouped together in a very small area. I remember one of Shang Properties selling point was that OSP would be the last condominium project in Shangrila Place, so its really your last chance to own a place in this exclusive neighbourhood. Well, that was what they were telling me but you never know what the future holds. With preselling projects you don't really know what view you will get till its all finished and there's no guarantee that it won't be covered by future developements. Even if Shang doesn't build on top of Shang Mall the Greenfield district developement across Edsa will surely block the views for Manila Bay Side Units.

June 1st, 2012, 06:17 PM	#1210
Alex50 Registered User Join Date: Jun 2012 Posts: 26 Likes (Received): 1	Thanks Amarula. I did not know about this Greenfield development project. Do you know how high would be the buildings of this development? I mean if I have a unit located at 60th floor I think I may still have a fair chance not to have the view blocked. Well hopefully...

June 1st, 2012, 06:37 PM	#1211
amarula Registered User Join Date: Oct 2010 Posts: 312 Likes (Received): 0	Yes at the 60th floor your unit probably won't get blocked. Here is the greenfield districts first building called Twin Oaks http://www.skyscrapercity.com/showthread.php?t=957974 . You can read more about it there. They are trying to make a self contained city/district like Eastwood. Hopefully they follow the original planning where they have devoted large areas of the land to parks and open spaces.

June 1st, 2012, 07:04 PM	#1212
Alex50 Registered User Join Date: Jun 2012 Posts: 26 Likes (Received): 1	Ok thank you. Actually if its not too high it can be a nice addition to the landscape. Also it might help to promote the area and could increase the rate per sqm for the already existing developments around it. Now when it comes to the original planning, its rarely what becomes the end product. I hope they don't become like Eastwood where its way too crowded with constructions litterally side by side.

June 4th, 2012, 11:53 AM	#1218
Alex50 Registered User Join Date: Jun 2012 Posts: 26 Likes (Received): 1	It can happen that Shangri La decides to build more high rise building in that part of Ortigas. If you think about Ayala they have plenty of land wherein to build more development, Shangri La being a foreign company has limited space of its own for more constructions. It could make sense that they try to maximise constructions on what land they have, and if you look at Shangri La Plaza, there is plenty of space for more buildings.

June 4th, 2012, 02:09 PM	#1220
amarula Registered User Join Date: Oct 2010 Posts: 312 Likes (Received): 0	I Agree with ShangInvestor. Also they can't demolish Shang Plaza because Rustan's just had a multi-million peso renovation and I think it just finished. When I was there in Feb the renovations were still ongoing. Anyway, I don't think Shang will demolish the plaza when one of their anchor tenants just had a huge renovation.