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Phinma Properties allots P2.5B for 2 mid-rise condos

by Neil Jerome C. Morales | The Philippine Star | Posted at 06/02/2012 9:29 AM | Updated as of 06/02/2012 9:30 AM

MANILA, Philippines - Phinma Properties Inc. is spending around P2.5 billion for two new medium-rise projects as it banks on continuous demand from the affordable housing market.

The company launched yesterday Arezzo Place in Pasig City and Solano Hills in Muntinlupa City, both targeting families looking for affordable housing.

Project development cost is P1.5 billion for Arezzo and P1 billion for Solano Hills, said Pythagoras Brion Jr., executive vice-president and chief finance officer of Phinma Properties.

“We got the financing last year for these projects plus for the two more that we will start at the end of the year,” Brion said.

Both projects are five-story condominium development that caters to young professionals, startup families, overseas Filipino workers and retirees.

Projected revenues for the two new projects, which offer 30-square meter units, might exceed P4 billion.

“In the case of Arezzo, there are 2,200 units at P1 million each so you are talking at P2.2 billion already. For Solano, you are looking at 1,400 units at an average price of P1.4 million,” said Phinma Properties president Willy Uy.

Each residential building has atriums with a pocket garden, stairwell and an airwell for ventilation.

Uy said Phinma Properties decided to launch mid-rise projects to quickly book revenues.

“We want to finish it as soon as possible. We want to recognize revenues right away and the fastest is to do a mid-rise project,” Uy said.

Arezzo is the largest project of Phinma Properties to date at five hectares. It is a four-phase development composed of five-story condominiums.

Solano Hills, for its part, will consist of three phases in a 2.9-hectare property in Muntinlupa.

Phinma Properties plans on launching three to four projects this year. Total project cost for the three to four projects composed of 6,562 units will be P5.7 billion that will be completed in the next three years.

The company expects to complete the construction of 2,250 units this year, more than double the 1,000 units last year and higher than the 1,400 units completed in 2010.

The property is a firm a subsidiary of listed holding firm Phinma Corp.

Source: http://www.abs-cbnnews.com/business/06/02/12/phinma-properties-allots-p25b-2-mid-rise-condos
 

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Heritage is my Future
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wow

gee this is fast :) it was only announced yesterday and now it's on skyscrapercity. thanks for posting!
 

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MUCHO BANNȆDIDO
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Malapit to sa Cetriopolis di ba?
 

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MUCHO BANNȆDIDO
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Nope, CENTROPOLIS medium high rise towers.. Near west service road lang din (sucat entrnace going to alabang) . Likod ng Puregold warehouse.
 

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MUCHO BANNȆDIDO
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Nandun talaga yung Paranaque Archdiocese? Napapansin ko din may nakalagay nga na sign na ganun.. Edi ba muntinlupa yung area na yun? Or nasa dulo pang lot yung Archdiocese? Dumaan lang sya sa lot ng Muntinlupa?
 

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Nandun talaga yung Paranaque Archdiocese? Napapansin ko din may nakalagay nga na sign na ganun.. Edi ba muntinlupa yung area na yun? Or nasa dulo pang lot yung Archdiocese? Dumaan lang sya sa lot ng Muntinlupa?
Sa pagkakaalam ko .. , under the jurisdiction of Archdiocese ng Paranaque ang Muntinlupa so kahit na nasa Muntinlupa proper ito ay okay lang naman. Modern at maganda yung building/church, nakita ko na one time before.
 

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MUCHO BANNȆDIDO
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Ay oo nga pla .. Salamat:) try ko din pla pumunta sa dun minsan..



Napapansin mo rin ba yung President villas along the west service road? Sayang yung mga bahay dun..
 

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muchosan said:
Ay oo nga pla .. Salamat:) try ko din pla pumunta sa dun minsan..

Napapansin mo rin ba yung President villas along the west service road? Sayang yung mga bahay dun..
Yup andun pa rin yung president villas, sayang talaga, nice yung design ng mga townhouses but i don't know what hapened, they weren't able to maintain it, now it looks old and run down but meron naman mga nakatira.
 

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Yup andun pa rin yung president villas, sayang talaga, nice yung design ng mga townhouses but i don't know what hapened, they weren't able to maintain it, now it looks old and run down but meron naman mga nakatira.
Is that President Villas townhouse also a part of the former Water Fun and lowrise buildings of San Jose builders? is it in Muntinlupa or Paranaque ?
The East Service Road across it is booming with developments , maybe they can demolished Water Fun and the old uninhabited lowrise buildings and instead built a mixed-use commercial area perhaps but retain the townhouses .
 

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MUCHO BANNȆDIDO
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So San Jose Builders pla developer nun President villas. Base sa nakikita ko below from skyway every day, yung first 4 or 3 front yun units lang yung natirirhan/ pwede pang tirahan..hehe May pader na nga between first row ang second row units eh.. Siguro may mga more than 50 villas yun! Kung makikita nyo from skyway sayang talaga. Wala nang bubong yung mga dulong units..


Bale yung malawak na empty lot sa likod ng President Villas ang malamang na Solano Hills..
 

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Well accdg to wikimapia.org its the vacant lot right beside the diocese of pque right before the entrance to southbay village. Pag papasok ka ng villongco st, nasa left side, kahilera di ng centropolis.
 

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sa mga new buyers eh magresearch muna kayo bago po bumili..Basahin ang positive and negative side ng developer na ito para po makapag isip ng mabuti
research nyu po ang mga past projects ng Phinma madali lang itype lang nyo po ito sa search ng skyscrapercity.com

Phinma Sofia Bellevue
Phinma Arezzo Place
Phinma Flora Vista

marami kayung matututunan dito

yun lang po salamat po..basahin nyo po muna bago bumili..

salamat po:)
 

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Coming Soon~ Near You!
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sa mga new buyers eh magresearch muna kayo bago po bumili..Basahin ang positive and negative side ng developer na ito para po makapag isip ng mabuti
research nyu po ang mga past projects ng Phinma madali lang itype lang nyo po ito sa search ng skyscrapercity.com

Phinma Sofia Bellevue
Phinma Arezzo Place
Phinma Flora Vista

marami kayung matututunan dito

yun lang po salamat po..basahin nyo po muna bago bumili..

salamat po:)
in general, what's the good and the bad about the developer?

i'm thinking of getting a unit here in solano sometime in the future, pero ang layo ng phase 1 sa amenities, inuna sana nila yung malapit sa clubhouse.
 

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in general, what's the good and the bad about the developer?

i'm thinking of getting a unit here in solano sometime in the future, pero ang layo ng phase 1 sa amenities, inuna sana nila yung malapit sa clubhouse.
good side is it is cheaper and nakakaakit yung rendering:nuts::nuts: but the bad side is mga comments ng mga unit owners sa mga past projects nila about their problems.

I hope this project turns to be good than the others.. reading and researching about their projects is one of the wisiest way to invest and also might decrease the risk of your expectations.
 

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MUCHO BANNȆDIDO
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dito na ba yung Tower crane sa area na visible from skyway?
 
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