Megaworld sees P2-B revenue from Makati condo
MANILA, Philippines - Andrew Tan-led Megaworld Corp. is looking to generate P1.8 billion in revenue from its new Paseo Heights residential tower in the Makati central business district.
The project is already 40% sold, according to Eugene Lozano, Megaworld's head of sales and marketing. The company started pre-selling late 2012.
Paseo Heights will have 30 storeys, with 320 units. The building will feature studio and two-bedroom units. A 30- to 35-square meter studio unit costs P3.3 million while a 90- to 95-sqm, two-bedroom unit costs P10 million. Units are sold pre-furnished with air-conditioning units, cook top and range hood, washing machine or dryer and refrigerator.
Megaworld is selling the units to start-up families and Filipinos overseas, according to Lozano.
The company expects to sell all Paseo Heights units by the third quarter of 2013 amid strong take-up. Paseo Heights is scheduled for complete turnover by April 2017.
Megaworld has 11 residential towers in Makati. It also has 3 condominium buildings currently under construction. Its 3 Central residential tower is already 90% sold out after its September launch.
Megaworld has 3 more prime lots in the city for development. The property firm is expected to launch a new residential development in Makati by the second half of 2013. - Rappler.com