THE Ascott Limited’s second serviced residence property to be opened in Makati’s Legaspi Village, the Citadines Benavidez Makati, offers investors a potential 6 percent to 8 percent annual return from profit sharing, developer Keyland Corporation said at a launch event.
Citadines Benavidez Makati is the centerpiece of 110 Benavidez, an integrated development of Keyland Corporation and The Ascott Limited. Containing 145 studio, one- and two-bedroom units and planned for opening in 2023, the Citadines Benavidez Makati will be Ascott’s second serviced residence property in Makati’s Legaspi Village, following the Somerset Millennium Makati, which opened in 2000.
“When you invest in Citadines Benavidez Makati, you invest in a worry-free investment. Worry-free meaning as a tenant, resident, or investor, practically everything is taken care of. We’ve spoiled our clients from the meticulously designed furniture, the management and marketing of the unit, to the prime location of the property,” Keyland Corporation Director and President Lito Montinola told prospective investors at the event.
Montinola pointed out that it is a promising time to invest because the Philippines’ gross domestic product is projected to grow in a range of 6.5 percent to 7.5 percent over the next few years. For people earning in dollars or euros, the opportunity to invest increases because of the devaluation of the peso, he explained.
The Ascott Limited’s Regional General Manager for the Philippines and Thailand Arthur Gindap highlighted the strengths of the partnership between Keyland as the developer of the property and The Ascott Limited as the property manager.
“As a global operator, there are criteria and benchmarks set when forging local partnerships. Ascott builds relationships with local partners that have a strong presence and more importantly, partners that share the same values and commitment to deliver properties that could meet its standards. Keyland Corporation is not only a remarkable and well-established developer in the Philippines, but is passionate about the brand and project,” Gindap said.
“With the longevity and expertise of the pillars involved in the project, investors can be assured investing in a unit is the right decision. The reputation and proficiency of the Ascott Group assures buyers consistent bookings of their units as well as other earnings from other features of the condominium. This offers the investor promising returns from the property’s profit sharing ranging from 6 percent to 8 percent per annum,” Keyland said in its presentation.
Citadines Benavidez Makati, which features a rooftop infinity pool among its amenities, is an ideal location of the sort The Ascott Limited has made part of its trademark, Gindap said, being near to top establishments for business and pleasure such as Landmark, Greenbelt, Glorietta, and The Enterprise Center.
Studio units at the Citadines Benavidez Makati begin at P7.5 million, while one-bedroom units start at P12.5 million, and two-bedroom units are priced from P15 million.
The Ascott Limited is part of CapitaLand, and is one of the world’s largest international serviced residence owner-operators with more than 300 properties in 25 countries in the Asia Pacific, the Americas, Europe, and the Middle East. It currently has 14 properties in Metro Manila and Cebu, seven of which are under development, with a total of more than 2,900 units.
Keyland Corporation is a developer of residential, office, and mixed-use projects including Casa de Sequoia in Las Piñas City; Signa Designer Residences, Keyland Centre, and the Keyland Ayala Building in Makati; Southkey Place in Alabang; and Keyland Plaza in Ortigas.