The listed real-estate business of tycoon Andrew Tan is set to open its first “super high-end” residential development in Makati City in the second half of this year, foreseeing a revenue worth P6.5 billion from the project.
Megaworld Corp. confirmed in a briefing held on Tuesday that One Central is scheduled to be completed in the second half of this year that has a project value of P6.5 billion. The real-estate firm said that the difference of a “super high-end brand” to a high-end brand is price and location.
One Central is one of Megaworld’s “super high-end” developments that was launched mid-2012 together with Two Central and Three Central, the tallest and most luxurious condominium property projects of the company to date.
“We have three towers. The P6.5 billion is for One Central alone. Two and three is in one compound,” Eugene Lozano, head of sales and marketing for Megaworld’s Makati Central Business District, said.
The combined project value of the three towers, according to Lozano, is P14 billion.
Lozano also said that One Central and Two Central are fully sold, while Three Central is 85 percent sold and is expected to be sold out by next month.
Harold Geronimo, Megaworld director for strategic marketing and communications, said that One Central is fully furnished.
He also said that Megaworld is seeing higher demand in luxurious development since the number of multinational investors in the country is increasing, adding that all of the company’s ongoing projects in Makati and Fort Bonifacio are all in the “super high-end” category.
Meanwhile, Megaworld recently tapped international design firm Gettys for One Central and other projects.
Gettys, an award-winning international design company, is responsible for some of the world’s renowned hospitality brands such as The Peninsula Hong Kong, the Ritz-Carlton in Miami and Hard Rock in Macau, among others.
Madelaine B. Miraflor