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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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Noah's Flood

Maganda sana kaso concern ko ang flooding sa area. Hindi ba madali bumaha sa area na yan ng Pasig?
Hi Ohayyy, Pasig is known to flood tlga, however, with PHINMA Properties, they made sure they elevated the building and project to a certain height. I forgot how many meters off the ground, but like in ASiA Enclaves in Alabang, the concept of elevating the building and ground floor higher than the flood level is implemented.
 

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dami naman maloloko ng developer na ito. WAG PADADALA SA AKALA MONG MAGANDA AT MURA..Read Sofia Bellevue, flora vista, fountain breeze thread kung gusto nyong malaman ang mga napakadaming modus at panloloko ng developer na to.

BUYERS: BEWARE
 

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Hi Ohayyy, Pasig is known to flood tlga, however, with PHINMA Properties, they made sure they elevated the building and project to a certain height. I forgot how many meters off the ground, but like in ASiA Enclaves in Alabang, the concept of elevating the building and ground floor higher than the flood level is implemented.
ayan ang prob ko sa ametta place ng alveo na malapit sa area na yan... hindi nga binabaha yung mismong project, yung daanan naman papunta sa project ehh baha.. wala din... kulong ka pag baha :eek:hno:
 

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beware: toinkz

dami naman maloloko ng developer na ito. WAG PADADALA SA AKALA MONG MAGANDA AT MURA..Read Sofia Bellevue, flora vista, fountain breeze thread kung gusto nyong malaman ang mga napakadaming modus at panloloko ng developer na to.

BUYERS: BEWARE
Hey guys beware of this person: toinkz, he's a scam. He's probably a person from a competitive company who is trying to pull down the reputation of this company. I noticed he keeps reposting only about phinmaproperty projects.

ayan ang prob ko sa ametta place ng alveo na malapit sa area na yan... hindi nga binabaha yung mismong project, yung daanan naman papunta sa project ehh baha.. wala din... kulong ka pag baha :eek:hno:
yeah I share the same sentiments, as private developers, they can only develop what they own or any road they have agreed on developing together with the local government. the only due diligence each project developer has is by increasing the height and giving other options for convenience inside their properties.
 

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Hey guys beware of this person: toinkz, he's a scam. He's probably a person from a competitive company who is trying to pull down the reputation of this company. I noticed he keeps reposting only about phinmaproperty projects.
nope di ako scam and di ako nagwowork sa ibang developer, im just a concerned unit owner ako ng sofia bellevue..Sila mismo kaya ang nagpupull down ng pangalan ng sarili nila....bale rinesearch ko lahat yung baho,kapalpakan, at mga kaso ng kumpanyang ito..yung San jose tinitira ko rin:lol: kaso buti nbenta ko na unit ko dun..

iba rin name ko sa SMDC threads may unit din ako dun:)(guess who)

So buyers read those thread that i mentioned..it will help you to learn more about this Developer..You've read about good things as well as bad things..


So either you believe me or not..still it's up to you to decide at least you've read the other side of coin.

I won't get anything for destroying(no, i mean REVEALING) the reputation of this developer kung merun man akong mkukuhang pera, then masmaganda para may pampaayus naman ako sa BUILDING CRACKS ng unit ko noh at puro sirang gripo,inidoro,shower,lababo,pintuan,sprinkler,atbp. na ininstall ng PHINMA PROPERTIES.

yung iba naman maayus yung unit nila pero majority ng unit owners mdaming reklamo.

read also Asia Enclaves mukang ako lang ata ang nagpopost ng contra dun at wala akong kakampi..so meaning to say quiet pa ang thread nun or konti pang unit owners ang nkakaalam nito.

pag nbasa nyu mga threads na yun ang lalabas na scam dito ung developer.
:cheers:
 

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I agree with Toinkz...before buying you should search forums to give you an idea/background and ask some friends na may alam dun sa property and developer...Reason kaya mura and Arezzo Condominium ay dahil yung harap ng gate nila eh gagawing public cemetary..Katabi ng Palmdale ang Arezzo Condo...so madami na ang nag pull out dahil nga sa pagtatayo ng cemetery. Wala din elevator sa Arezzo kaya ang pinaka mura eh ung sa 5th floor...But if others willing to leave in front of the cemetery ok na yun kasi mura na talaga sya...
 

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I agree with Toinkz...before buying you should search forums to give you an idea/background and ask some friends na may alam dun sa property and developer...Reason kaya mura and Arezzo Condominium ay dahil yung harap ng gate nila eh gagawing public cemetary..Katabi ng Palmdale ang Arezzo Condo...so madami na ang nag pull out dahil nga sa pagtatayo ng cemetery. Wala din elevator sa Arezzo kaya ang pinaka mura eh ung sa 5th floor...But if others willing to leave in front of the cemetery ok na yun kasi mura na talaga sya...
1.5 billion Peso project walang elevator:lol::lol: baka naman escalator ang ilalagay hanep. Again it was an overpriced condo A 1.5 BILLION WITHOUT ELEVATOR.. im sure papasok nanaman ditu si corruption..weak cement for structures, low standard amenities, poor and inexperienced Engineers and management(lesser pay of course).
:applause::applause::applause:

But they rely heavily through marketing. Nice Render and advertising heavily in a reputable Newspaper such as Philippine Daily Inquirer.:nuts::nuts:

Ang ayaw ko lang eh gAwa sila ng gawa iniiwanan na nila yung mga natapos na projects. Masmaganda sana kung ayusin muna nila yung mga problema nila sa nakaraang projects nila bago gumawa hindi ung bahala na kayu kumita na kame gawa uli ng projects para makapangloko..hayyysss.
:wtf::storm::cripes::madwife::eek:mg:
 

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Heritage is my Future
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Face the facts

1.5 billion Peso project walang elevator:lol::lol: baka naman escalator ang ilalagay hanep. Again it was an overpriced condo A 1.5 BILLION WITHOUT ELEVATOR.. im sure papasok nanaman ditu si corruption..weak cement for structures, low standard amenities, poor and inexperienced Engineers and management(lesser pay of course).
:applause::applause::applause:

But they rely heavily through marketing. Nice Render and advertising heavily in a reputable Newspaper such as Philippine Daily Inquirer.:nuts::nuts:

Ang ayaw ko lang eh gAwa sila ng gawa iniiwanan na nila yung mga natapos na projects. Masmaganda sana kung ayusin muna nila yung mga problema nila sa nakaraang projects nila bago gumawa hindi ung bahala na kayu kumita na kame gawa uli ng projects para makapangloko..hayyysss.
:wtf::storm::cripes::madwife::eek:mg:
From the response, its clear this person has no idea about the building code of the Philippines, the approved minimum or maximum strength or load required per wall or per foundation, and how much engineers and architects in phinma are paid. I would know, I'm close with one. this toinkz really has no idea about money or costing, and neither does he have any class or manners when talking in forums.

Speaking of class, remember, phinmaproperties is only for the affordable market - the Class C and D, and most of their projects are sold out within a year or two. This means that the project developer is a housing developer, not a real estate company - look up the difference between the two. DMCI is not the competition of phinma properties because they belong to two different markets entirely - DMCI is upper A and B, Phinma is C and D.

Funny thing is that DMCI and phinmaproperties has a knack for being located near or beside informal settlements and cemeteries. That's not the fault of either company, that's the fault of LGUs and their terrible city planning.

However, no one should blame a developer for having to build something in the area if there is a market for it - and the market for Pasig city in that area does not require an elevator. An elevator, or any 'standards' just jacks up the price. DMCI has a condo development called Bonifacio Heights in Fort Bonifacio that has no elevators, but its sold out and very well done.

Anyways, back to phinmaproperties, they are known to provide their so called walk-up condo series to the affordable market, hence they do not provide an elevator (except for their recent Asya enclaves in Alabang and Solano hills in Sucat muntinlupa area).

Price wise, Php 1.5B is kinda the standard for a very good residential high end 40 storey building in Makati or Ortigas, or in BGC. From what I know, the Php 1.5B is used for around 24 residential buildings, commercial strip, amenities and stuff that the affordable market (Class C and D). Their flyer says its 5,604 a month thru Pag IBIG for a unit size of 30 sqm meters. That's a really good value. However, you get what you pay for - and that's why people choose to upgrade their unit should they see fit. At least it does not say it's fully furnished but the furniture is lack luster (cough*smdc*sorry to my friends there), or they have very beautiful amenities, but the hallways and units are morbid (cough*smdc*cough)

From their website, they are they first and only triple ISO developer in the Philippines : that's for quality, environment and safety. Plus, their cast in place method is stronger than the typical hollow block walls because the unit walls are foundation walls (puro buhos) - the strongest walls in the entire building are normally found in the elevator shafts where it's pure buhos.

If you guys notice in earthquake destroyed cities, most of the stuff that are remaining stills intact and standing are the elevator shafts - that's because the elevator shafts are buhos (they don't require beams or pillars, just pure buhos square like box in place). All projects in Phinmaproperties have puro buhos concrete outer walls so technically it's a safer bet than the typical beams, pillars, and hollow block walls.

I doubt its not the quality or the craftmanship this guy is whining about - I saw some complaints in the past but it was more on the admin side of the property developer, and how they run things as a community. Thing is, that's admin, and well normally when you turn over the project to the residents, its already the condominium association of people, not the developer. It's the same for a residential village where they have their own home owners association.

If people rely solely on forums and chikka regarding the development, then they are definitely looking at the wrong place - you would need to dig deeper than that. If the company wasn't doing so well with their quality environment and safety, then they would have been stripped of the iso award a long time ago - I remember its very very difficult to keep up those standards yearly to sustain that iso. On average, a company only has one or two iso's.
 

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repost from Flora vista thread

class and manners? bakit may class and manners din ba ung phinma sa panloloko sa amin?

repost lang galing sa thread ng flora vista..:lol::lol:

hi natakot lang ako:

QC orders two schools closed, condo repaired
Manila Standard Today - 18 March 2011

Bautista also ordered the developer of Smile Citihomes on Zabarte Road in Novaliches, where structural defects had been found in some of the units, to retrofit them or face closure.

Smile Citihomes, a medium-rise condominium or tenement-style building, was built in the early 90’s by developer PHINMA Properties. It consists of 16 clusters of residential units

and

Phil. info. agency
http://www.pia.gov.ph/?m=7&r=ncr&id=22936

"Also recommended for closure is SMILE CitiHomes along Zabarte Road on reports of structural defects. Bautista already asked its property developer, PHINMA properties, to immediately undertake retrofitting measures to ensure the safety of the homeowners. To ensure that all safety requirements are complied with, city building official, Isagani Versoza, has been tasked by the Mayor to coordinate closely with PHINMA.

pls. check the pix in the internet... parang squatter, may mga naka sampay sa bintana, at kung saan saan nag papark ang mga tao. early 90's daw na develop ang smile citihomes. kulang kulang 10yrs. siguro yun, tapos nagkaganun na... sana di mangyari sa fv yan....

kunyari earthquake proof para bumenta ang mga ginagawang projects nila:) :) like i said may kurapsyon na nagaganap wala akong proof neto pero mahahalata natin eto

nababribe din ang mga inspector kaya nakakalusot ang mga substandard nilang gamit..may pix ako ng mga building cracks sa sofia bellevue dati ..tinatamad lang ako ipost dito. So far ngaun narepair pero inoobserve pa rin namin within 6 moonths

kelangan pa ba alamin ang building code tungkol sa cracks? di na.. visual check lang kahit bata alam kung anu ang ibig sabihin ng crack..ganyan din ako sau dati..naniniwala agad samga sinasabi at pinagpopost nila site.

:banana::banana::banana::banana:

sa Elevator na lang ako ng phinma matutulog lagi... dun pala yung pinakamatibay na part (o bka gawa gawa nanaman ito ng phinma para bumenta):lol::lol:

sa mga readers read again those Phinma threads that i mentioned above..it might help:)

:cheers:
 

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how true na gagawing cemetery yung katapat na lot ng arezzo? curently, that area across arezzo is an rcbc auto warehouse. i googled (google earth) that area, lots of cars for sale yata ng rcbc are parked there? on the left side is palm dale condo, the right and back are vacant lots. saan itatayo ang cemetery dito? i think i need to investigate on this matter. i'm eyeing pa lang this condo because of its affordability, but a cemetery beside, across or at the back is a big turn off.
 

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i'm not very much worried about the flooding. according to a relative who lives in the same street, their place wasn't reach by flood water during ondoy. pero knee high sa street. i just thought that since arezzo is newly built, siguro naman naisip na ng engineers re flood, kaya they designed it na mataas. and preferred ko talaga low rise buildings bcoz i dont like elevators sobrang taas ng office where i work, umiinit lagi ulo ko sa elevator. kaya nagustuhan ko arezzo. but im worried about the cemetery issue. how true is this?
 

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It was kind a unique to see that there are people who don't like elevator. Ako rin mas prefer ko stairs dahil hindi ako nahihilo pero kung nagmamadali eh nag eelevator ako.:)

kaya affordable kase ung location eh harap ng sementeryo. Anyway, pakipost na lang po dito yung mareresearch nyu kung tutoo nga na may sementeryo.:)

Kung maganda naman po ang sementeryo(ex.American cemetery Mckinley Hill sa Taguig) eh wala naman pong problema pero kung ang sementeryo eh yung parang manila north cemetery naku wag na lang.
 
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