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Listed SM Development Corp., (SMDC) the premium middle-income
residential development unit of the SM Group, has sold at least 70
percent of the 504-unit Ritz, the fourth of the planned six clusters
of mid-rise condominium buildings completed at Chateau Elysee in
Parañaque City.
Continued high market demand for high-quality
real estate products, affordable prices over flexible payment terms
and assurance of on-time and fast turnover contributed to the
company’s robust sales performance, said Gilbert Ang, SMDC
assistant vice president and project director of Chateau Elysee.
SMDC recently delivered Ritz units to over 300
buyers, mostly starting families, overseas-based Filipino workers
and their families and foreign expatriates. Completed in a year
after groundbreaking, Ritz consists of four seven-level buildings
offering 125 units each at prices ranging from P1 million to P3
million.
Construction of the new cluster, called Vendome,
has started at a development cost of P350 million. The biggest among
the condominium clusters in the entire Chateau Elysee project, the
seven-level condominium buildings of Vendome will make available 560
more residential units or 140 units per building upon turnover in
November 2009.
Vendome will offer a mix of one- and two-bedroom
units with a floor area of 24 to 48 square meters, respectively. The
units will cost P1.2 million to P3.5 million.
Plans for the last cluster called Seine are also
being firmed up. Target start of construction is within second
quarter of 2009 and completion in November 2010.
Each unit of Chateau Elysee comes completely
finished upon turnover. Besides the above-industry standard ceiling
height of three meters, painted walls and ceramic-tiled floors,
picture windows with 2.1-meter height, modular kitchen cabinet with
granite countertop, the unit is now equipped with a two-burner
electric range with range hood.
Each cluster, on the other hand, has a
five-meter hallway at the main lobby, 1.8-meter wide corridors, two
scenic high-speed elevators, backup generators for common areas and
lower ground-level parking.
Chateau Elysee, a P2.2-billion
French-Mediterranean themed “condominium village” and the maiden
residential offering of SMDC, sits on a 4.8-hectare property close
to SM mall in Bicutan. Its inventory from the first three completed
clusters, namely, Lafayette, Concorde and Eiffel, has been fully
sold. The entire project will have a total of 2,696 units within 24
mid-rise buildings upon completion.
From the remarkable acceptance of our projects,
especially Chateau Elysee, SMDC has turned into a full-fledged
residential property developer that continues to gain the trust and
confidence of the middle-income market for five-star quality homes
made more affordable to more Filipinos,” said Rogelio Cabuñag,
SMDC president and chief operating officer.
Chateau Elysee offers 70 percent of its total
land area for landscaped gardens and amenities such as a two-story
clubhouse, a 25-meter lap pool, two wading pools, jogging trail, a
gym, tennis and basketball courts, play area and a social hall. It
is five minutes away from SM City Bicutan and 15 minutes away from
both the Ninoy Aquino International Airport and Makati Central
Business District.
The project also offers basic necessities and
premium conveniences for the residents, including a 24-hour
convenience store and laundry, chambermaid and handyman services. It
has appointed CB Richard Ellis for property management services.
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