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Boni / Shaw, Greenfield District & Ortigas: Near MRT

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Greenfield District & Ortigas (Boni, Shaw, & Ortigas MRT).

Looking Beyond Makati

I find property-related opportunities in Makati, BGC, Circuit etc to be pretty interesting - but that's not all there is in the Philippines. There are some other areas that also look interesting; including some n the heart of greater Manila, and also outside.

Note (added in edit, in late 2017):

Some readers may want to scroll down and get past the Greenfield district stuff at the beginning.  That was the initial purpose of the thread - but the purpose broadened out later.

Metro-Manila Map / Manila Map

vM7vTI8.jpg

EDSA / MTR Stations : link ... Larger Map :

tij5R4A.png

 

MTR Stations / "Blue Line"
There are 13 stations in Metro Manila, which spans five (5) cities, from North Avenue in Quezon City to the the southern tip in Pasay, which is Taft Avenue. The list of stations, as well as major landmarks, are as follows:
========
1. North Avenue (Quezon City) - SM North and Ayala Trinoma. QC Circle is also nearby.
2. Quezon Avenue (Quezon City) - ABS-CBN Network Station and the closest link to University of the Philippines. QC Circle is also nearby.
3. GMA-Kamuning (Quezon City) - GMA Network Station and Timog Avenue is already accessible.
4. Araneta Center-Cubao (Quezon City) - Araneta Coliseum, SM Cubao, Ali-Mall, various provincial bus stations, Aurora Boulevard, Gateway Mall, New Farmer's Plaza, and the closest link to Ateneo de Manila University. There are also jeepneys here that go to Pasig and passes by Eastwood. This also serves as the link of MRT to the LRT 2 Line (also known as the Purple Line) that starts from Santolan Station in Marikina to Recto Avenue in Manila.
5. Santolan-Annapolis (Quezon City) - Camp Crame (PNP Headquarters)and Camp Aguinaldo (AFP Headquarters)

6. Ortigas Avenue (Pasig City) - SM Megamall, EDSA Shrine, Robinson's Galleria, Greenhills, Holiday Inn, Crowne Plaza, Poveda Learning Center, St.Francis Square, and Podium
7. Shaw Boulevard (Mandaluyong City) - Shangri-La Plaza, EDSA Central, StarMall, EDSA Shangri-La Hotel, and also SM Megamall.
 
jqkG0uE.png

8. Boni (Mandaluyong City) - Pioneer Plaza, Robinson's, Cybergate, and Victor Potenciano Medical Center
20217172_1557481600940764_1245283429_n.j
 
... The Sta.Monica-Lawton Ave. bridge due late 2019 maybe a game changer.
9. Guadalupe (Makati City) - San Carlos Seminary, Guadalupe Shopping Center. This is also the nearest link to Rockwell Center, Power Plant Mall, and even the Makati City Hall (there are jeepneys that pass by Guadalupe, Rockwell, and J.P. Rizal where the City Hall is). This also links the MRT to the Pasig Ferry Line through the Guadalupe Ferry Station.
10. Buendia (Makati City) - Nearest link to the Makati Central Business District (Makati CBD). From this station, one can also ride a bus to the MMDA Main Headquarters in Orense (though the building is between Buendia and Guadalupe stations, it is still practical to go down at Buendia and take a bus that is northbound).
11. Ayala (Makati City) - Ayala Center, Glorietta, SM Makati, Greenbelt, Landmark, nearest link also the Makati CBD. This is also the nearest link to Fort Bonifacio and McKinley Hill through the Mckinley Road.
12. Magallanes (Makati City) - Alpha Southland Mall, Pasong Tamo, Dasmarinas Village entrance, South Super Highway, Little Tokyo, Paseo de Magallanes, Asia Pacific College, Glaxo Smith Kline, and San Lorenzo Place
13. Taft Avenue (Pasay City) - Metropoint Mall, Macapagal Avenue, Baclaran, Pasay Rotonda. Nearest link to the SM Mall of Asia, universities found in U-Belt and Taft (such as De La Salle University), and Ninoy Aquino International Airport (NAIA). This also serves as the link of MRT to the LRT 1 Line (also known as the Yellow Line) that starts from Baclaran Station in Pasay to Monumento in Caloocan.
=======

Recently, the LRT1 Yellow Line was extended to link to the MRT.
 
Three more stations were added to the LRT 1 Yellow Line to "connect" the Monumento Station to MRT's North Avenue. These stations are: Balintawak, Roosevelt, and SM North.

> Read more: http://www.metromaniladirections.com/2010/03/mrt-stations.html#ixzz30kQekEs6

The Makati, BGC, Circuit thread is here: http://www.greenenergyinvestors.com/index.php?showtopic=18811

(and these are areas mostly developed by Ayalaland)

This thread will look at some areas close to the EDSA MRT stations

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"The Greenfield District" / Shaw MRT

- in Mandaluyang, near BGC and Shaw MRT station : Greenfields Thread, SS-City :

: GD Interactive Map : 2013 master plan :

3.jpg

 

Greenfield targets high end
by Jenniffer B. Austria, Manila Standard, Oct. 2009

Greenfield Development Corp., the property arm of the Campos family, is ready to compete with well-established developers with the launch of Greenfield in November as a brand for high-end residential projects with the construction of its first solo residential tower project.

“The sleeping dragon has awakened and we are here to fight it out in this real estate market,” Campos said.

=========

Greenfield also plans to develop a 15-hectare land in Mandaluyong, called Greenfield District, the 20-hectare Hillsborough project in Muntinlupa, 100-hectare property in Mamplasan, Laguna, 300-hectare land in Greenfield City, Sta. Rosa, and a 25-hectare land in Mapagong in Calamba, Laguna.

Greenfield earlier was involved in several joint venture projects but opted to remain low key. “We have always been a low-key group. I truly don’t like to do this press conference. The only reason we have to come out because buyers have been cheated so many times,” Campos said
“Greenfield Development Corp. would like to be known as developer willing and open to use state-of-the-art technology wherever available, designed to improve the lives of its customers. This will be its distinctive and differentiating factor among other developers,” the company said in a statement.

Greenfield plans to use a technology in which unit buyers will be able to open their home locks and security systems through their mobile phones and adjust their air conditioning units through their office computers.

For the Greenfield District, the company is set to launch its first solo residential project, called Twin Oaks, a P3-billion building

126425_orig.jpg : source

act_36976.jpg

Twin Oaks will be part of a Master planned district - to be built up over 20 years - just South of Shaw Boulevard

Video on Twins Oaks: Connectivity, design, are key features

...located within the 15-hectare Greenfield District along Shaw Boulevard in Mandaluyong. Campos said the company will start constructing the project by late next year for completion by 2014.

 

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It plans to offer the project at P105,000 to P110,000 per square meter. A 30-square meter studio room could cost between P3.05 million and P3.1 million*.

Plans are also under way to improve the road network in 15-hectare Greenfield District and redevelop the whole area to make it more appealing to customers. Greenfield District is approximately the same size of Eastwood City in Libis, a project of tycoon Andrew Tan and Lopez-owned Rockwell Land Corp.

Founded in 1971, Greenfield began as a landholding company with vast tracts of land in its portfolio.

==

> http://www.skyscrapercity.com/showthread.php?p=45727853

/ 2 /

Greenfield District: Reinventing a city center

The Hub at Greenfield District: A nice alternative for casual dining with its mix of both new and familiar restaurants
 

The city is an organism, a biological creature. The metaphor has long fascinated sociologists, economists and urban planners. And indeed, a city does seem to follow the metabolic laws of living forms. Think about it: They are born and built from imagination. They thrive, grow and eventually will age. Thereafter, they will tend to slow down. Just as all living things are hampered by the handicaps that come with aging, it is inevitable that cities will also eventually function less efficiently as they mature and expand beyond their original blueprints and boundaries. For urban planners, property owners and even city residents therefore, the line of thought that advocates reinvention and evolution as key factors to keeping urban spaces relevant, functional and up-to-date to address changing needs is immensely important. Planning should not merely consider aesthetics and current necessities. Rather, it is more important to look forward and plan ahead so that each urban space will enjoy a longer life span. The need becomes more apparent as prime areas become even less available in a constantly growing conurbation such as Metro Manila.

Thus, the redevelopment of the area in Mandaluyong that was once generally referred to as EDSA Central into a “smart and connected” community called Greenfield District is good news. The development is master-planned to consist of an intelligent mix of residential towers, office and shopping buildings and a range of restaurants and bars. Add this to the intrinsic advantage of a central location in Mandaluyong with a direct access to EDSA, and it will be easy to understand why the area is set to become a preferred residential address and meeting spot of residents of nearby established communities as well as office workers who would like to unwind after a hard day’s work in the business centers of Makati, Ortigas and even Quezon City.

A growing number of dining options at The Hub

The dining strip at Greenfield is fittingly called The Hub. It is a nice alternative for casual dining with its mix of both new and familiar restaurants. We explored it recently and were pleased to see that the prevailing atmosphere there was more relaxed than in other dining places. A wide, green field across the street and a refreshing light breeze made outdoor dining a tempting option especially on balmy evenings, and vehicle owners need not be frazzled because street side parking is readily available.

“We are the only ones with the flexibility to offer open spaces in the area,” said Rene C. Arnobit, assistant vice president and head of retail division of Greenfield Development Corporation, pointing out the nearby lush 7,000 sqm. open park. He shares that about 40 percent of the entire Greenfield development will consist of pocket parks, tree-lined streets and refreshing open spaces of greenery. He adds, “The Hub is the first restaurant strip in the area and we are looking forward to serving a new upscale market.” While we were able to fit in only four outlets during that particular visit, it was a nice experience overall

==

> MORE: http://www.philstar.com/modern-living/2013/08/17/1098371/greenfield-district-reinventing-city-center

* This seems to be the price anticipated back in 2009

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According to someone from Inside the developing company,

The attractions of The Greenfield district are:

+ A higher "ground zero" level, and so less susceptible to flooding

+ Three levels of transport: underground parking, street level, and elevated walkway

+ Fiber cables and WIFI everywhere, so allowing high speed internet communications

+ An integral connection to the MTR, at the Shaw station

 

CITY-- : Above Sealevel- feet
=======
Baguio City 1472m / 4,828 ft
Clark Int'l -- : 155m / 0,508 ft
Quezon City: 048m / 0,158 ft
Manila ------ : 008m / 0,026 ft
Makati ------ : 024m / 0,080 ft

Shaw St --- : 047m / 0,156 ft

Ft Bonifacio : 029m / 0,095 ft

MAP : source

5s4HjfD.jpg

Zitan Bldg. (Residential):

SS-city thread comment on an early render: "it's ugly" - to some perhaps... but it may be a good investment

91G6Ykh.jpg

ZITAN is the latest development located at the gateway of GREENFIELD DISTRICT, the first smart and connected district in the country

TRANSIT ORIENTED CENTRAL LOCATION
> 2 minute walk to EDSA MRT station and EDSA Shangrila Mall
> 5 minute walk to St. Francis of Assisi Church and Lourdes School of Mandaluyong
> Intertwine with a network of state-of-the-art buildings for commercial, retail, and residential use.

CENTRAL ADDRESS
Connects residents to malls, lifestyle centers, offices and public transport vehicles.
FIRST MOVER ADVANTAGE
The District's technologically-advanced infrastructure and environmentally-aware planning will provide dwellers a distinctive living experience.
GREEN! GREEN! GREEN!
40% of the Greenfield District is dedicated to green open spaces, pocket parks, and tree-lined roads and overhead walkways.
 
152052943_8c0bc7ab9821bf7f4a2f46dff74a27
 
Not exactly corner EDSA since there's a property in the EDSA part based on the map given by hpalmer888.

35 floors all-in-all.
3 basement parking w/ 195 parking slots = 143 parking slots for residents (it will be interconnected with other buildings like SOHO Central and Twin Oaks Place.)
1st 3 levels allotted for commercial/retail space (for lease only).
32 floors for residential use.
22 units per floor
expected number of units: 695
3 elevators + 1 service elevator
amenities: pool, gym, function rooms

They have fiber-optic "din yata" like Twin Oaks Place's.
Much affordable but having quite the same technology! Go for it! Ok for investment!
=== ===
 
(As of Oct. 2012):
ZITAN at the Greenfield District
RESERVATION FEE: as low as P10,000.00
PAYEE: EQUUS PROPERTY VENTURE, INC.
 
819660313_1_1000x700.jpg?rev=005&bucket=

FOR SALE: 6th-10th floors only
MANAGEMENT HOLD: 11th-36th floor

studio A 25.40sqm - no balcony - Php 2,286,000 - 2,337,056
studio B 26.24sqm - w/ balcony - Php 2,361,000 - 2,414,342.
studioC 30.56sqm- w/balcony- Php 2,758,040 - 2,804,186
studio D 30.15sqm - w/ balcony - Php 2,721,000 - 2,766,564

1 BR 46.04sqm - w/ balcony (MANAGEMENT HOLD)

Avail our UNBEATABLE Pre-Launch Price for as low as Php 9,600.00/month (for the 1st 25 units ONLY)
Spread downpayment @ 0% Interest as long as 48 months
 
Basic pitch is:
"Zitan Mandaluyong will appeal also to investors (local and foreign), entrepreneurs, families of OFWs. Its strategic location within minutes from the Ortigas, Mandaluyong, Global City and MaKati central business districts and its proximity to major commercial establishments, BPO companies and educational institutions make Zitan Greenfield District Mandaluyong a very good investment opportunity for rental income."
 
Alternating Floors : Even, below : Odd no.s :
zitan-condo-at-greenfield-district-manda
===

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Closer Look?

 

zitan-building-5.jpg

The Zitan building has topped out and will be completed in Q1-2017

 

It is now over two years later - and it looks like a good time to take a closer look at the Greenfield Dsitrict.

I never got around to visiting it in 2014, but I did today - and I liked what I saw

 

I liked the properties - but let's start by looking at the foodie fest in the weekend market:

 

Exploring the Greenfield Weekend Market

Tip: come hungry, bring cash. You'll want to take a few things home with you

July 04, 2014
greenfield-weekend-market-20140704_CE546

MANILA, Philippines –The Greenfield Open Park is a small piece of green right at the heart of the city. It’s one of the newer weekend markets that have sprung around the metro, and is rich with adventures in food, fun, shopping and entertainment.

You only need a little bit of daring and some cash, of course, to get the most of what the place has to offer. (You may spend at least P100-P150 on food, plus more if you plan to shop.)

Greenfield is located within the Greenfield District along United Street in Mandaluyong. To get there by train, get off Shaw Boulevard Station and walk towards the location of the old Edsa Central. By car, take Shaw Boulevard and turn towards United Street.

 

Treats for the discriminating foodie

greenfield-weekend-market-inline-2014070

Painting lessons, live music, more

Artists from groups like Mandaluyong Artists, The Mustache Creative, Lucid Art Group, and Art Without Boundaries offer painting lessons to the public. And the good news is, both the lesson and materials are for free. It’s a creative way to spend weekends with your friends or your children.

artworks1-20140629.jpg

PAINTINGS. A number of artists also display their work at the market, and you can pick up an original work or two, too

Starting at around 6:00 p.m. musicians take the stage to play soft music that is the perfect accompaniment to conversation, bonding, reading or even some quiet contemplation. And if you’re into feng shui or Tarot cards, you can get consultations for a price.

 

Apart from these activities, the management of Greenfield District regularly comes up with special weekend events for everyone. Think free yoga sessions, games, vegetarian cooking demo, film showing, car show, a back-to-school event, and others.

 

The Greenfield Open Park project is a work in progress, according to Greenfield’s head of Corporate Planning and Corporate Marketing Mike Andan. “It’s a holistic experience for the afternoon weekend market—there’s live music and live art, unique finds, good food and good vibes.”

If you're not into the scene yet, maybe it's time to make a new discovery. – Rappler.com

 

Greenfield Weekend Market is open every Saturday. For more information and updates on special events, visit their Facebook page here

http://www.rappler.com/life-and-style/travel/61923-greenfied-open-park-food-discoveries

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Residential rental rates soften across CBDs, except Ortigas

Stable residential supply coupled with slow absorption resulted in a slight softening in rental rates in Rockwell. The business district’s rental rate for the first 3 months of 2016 dropped by 0.5% to PHP958 per sq m from PHP963 per sq m. Slower take up in Makati CBD amid the additional supply also resulted in rental rate decline. As such, rates in the business district dropped by 1.6% to 869 per sq m. A similar trend was recorded in Fort Bonifacio as monthly rental rate dropped by 2% to PHP873 per sq m from PHP891 per sq m. Rents in Fort Bonifacio posted the biggest decline during the period under review. Meanwhile, strong take up in Ortigas Center put upward pressure on rental rates. From January to March of this year, condominium units in the business district commanded PHP516* per sq m, up 2% from PHP506 in the previous quarter.

With the delivery of additional condominium units over the next 12 months, rental rates in Fort Bonifacio are projected to decline by 2%. Rental rates in Makati CBD, which will corner about 30% of the additional units this year, will decline by 3.2%. Meanwhile, Ortigas Center rents are projected to drop by 2.7% over the next 12 month

> Colliers : Q1-2016 Report

* / Note: I have been told by an agent friend that there is a "cheap part" of Ortigas, that drags down the average rent - to about 60% of Makati /

 

Rent Comparison:
-----> - Q4- : - Q1- , +%chg.- : - Q2- +%chg.- :
Rock: P963 : P958, - 0.00% :
Mak : P000 : P869, - 1.60% :
BGC: P891 : P873, - 0.00% :
Orti. : P506 : P516, +1.98% :

 

ORTIGAS : Relative SUPPLY Glut now, improves starting after 2017.

At Q1, 2016
Location: End2014/2015F: SUPPLY / 2016F : +% : End S- / 2017F : + Pct.: End S- / 2018F / 2019F
=======
Makati - : : 18,337 / 1,000: 19,337 / 4,148: +21.5%: 23,485 / 2,962: +12.6%: 26,447 / 1,072 / 0,598
B.G.C. -- : : 19,427 / 2,779: 22,206 / 6,931: +31.2%: 29,137 / 4,125: +14.2%: 33,262 / 2,831 / 2,482
Ortigas-- : 13,820 / 2,430: 16,250 / 1,355: +8.34%: 17,605 / 0,899: +5.11%: 18,704 / 0,422 / 0,570
======
The huge jumps in supply for the next two years (7,110/36.8% for Makati, and 11,068/49.8% for BGC) will not be easy to absorb without a drop in Rents.

By contrast, Ortigas has a 21.3% jump in supply in 2015, and would have been expected to have some rental softness now. Instead, Colliers reported a +2% Rental increase in Q1-2016, see above. Perhaps that is due to the fact that average Rents in Ortigas (PHP 516 psm) are substantially lower than in Makati (869 per sqm) or BGC (PHP873 per sqm) and so perhaps tenants came to Ortigas in search of bargains.

The prospects for Ortigas Residential rents looks good as office completions are expected to jump after a slow 2017:

------- : End'14 / 2015F : End'15 + Pct. / 2016F : End'16 + Pct. / 2017F : End'17 + Pct. / 2018F : End'18 + Pct. / 2019F : End'19 + Pct. /
Ortigas 1,299 / 81.51k= 1,380 +6.27% / 59.35k= 1,440 +4.30%/ 15.77k= 1,455 +1.10% / 47.07k= 1,502 +3.24% / 174.5K= 1,677 +11.6% /

Look at the rise in completions after 2017: +3.2% in 2018, and +11.6% in 2019 (!)

 

Let's look at a simple ratio - of Office space to Condos, and see how it is shifting over time:

(Q1-2016)
-------- : ------ End 2014 ------ : : ---- End 2015 -est-- : :----- End 2016 -est-- : : ---- End 2017 -est-- : : ---- End 2018 --est-- : End'19
AREA : 0ffice /Condo: Ratio : 0ffice/Condo: Ratio : 0ffice/Condo: Ratio : 0ffice/Condo: Ratio : 0ffice/Condo: Ratio :

Makati : 2,847 / 18.34 : 155.2 : 2,833 / 19.34 : 146.5 : 2,833 / 23.49 : 120.6 : 2,853 / 26.45 : 107.9 : 2,893 / 27.52 : 105.1 :: 2,931
B.G.C. : 0,975 / 19.43 : 50.18 : 1,161 / 22.21 : 52.27 : 1,505 / 29.14 : 51.65 : 1,783 / 33.26 : 53.61 : 1,888 / 36.09 : 52.31 :: 2,132
comb.- : 3,822 / 37.76 : 101.2 : 3,994 / 41.54 : 96.15 : 4,338 / 52.63 : 82.42 : 4,636 / 59.71 : 77.64 : 4,781 / 63.61 : 75.16 :: 5,063
At 5sm workers/condo : 20.24 : worker/condo: 19.23 : workers/condo: 16.48 : worker/condo: 15.53 : workers/condo: 15.03 :
Ortigas 1,299 / 13.82 : 93.99 : 1,380 / 16.25 : 84.92 : 1,440 / 17.61 : 81.77 : 1,455 / 18.50 : 78.65 : 1,502 / 18.93 : 79.34 :: 1,677
Rockwl.: 0,??? / 4.159 : ?? ?? : 0,??? / 4.159 : 00.00 : ???? / 4.159 : 00.00 : ?? ?? / 4.505 : 00.00 : ?? ?? / 4.997 : 00.00 :

Another thing that will help is an improvement in MRT train capacity,

which should allow more people to live in Ortigas/ Greenfield, and benefit from the cheaper rents their, while they have an easier

and quicker commute to other areas in Greater Manila, such as Makati which will have a relative shortage of condos.

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DOUBLING of MRT capacity is coming

MRT_2_CNNPH.png

Sunday News;

EDSA MRT TO DOUBLE CAPACITY over the next 12 months

By adding trains and increasing speed from 50 to 60 kph they plan to go from a passenger capacity

of 14,000 to 31,500 Passengers per hour (PPHDP) as the modify train sets from 3 to 4 coaches

With 15 to 20 trains operating they will have 350K daily capacity and 560k crush capacity.

48 new trains have been ordered. And some of those have already been delivered,

and are being tested now.

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NOT STRAYED from the original concept:

 

Unilab’s Jeffrey Campos goes green and vertical
September 14, 2009

Jeffrey Campos, the most landed of the three Unilab heirs, is belatedly joining the high-rise business, embarking on not just one but three towers at the same time.

Campos, who inherited the vast landholding company Greenfield Development Corp. with the death of taipan Jose Yao Campos, will build a twin-tower, 43-story residential condo in Ortigas and another high-rise at the former Crispa outlet at the corner of Buendia and Export Avenue beside the 24-hour Tropical Hut restaurant.

The Ortigas towers Twin Oaks Place is the first project in the 15-hectare redevelopment of Edsa Central, popularly known as Crossing, at the intersection of Epifanio de los Santos Avenue and Shaw Boulevard that the Campos heir wants to become the greener equivalent of Ayala Center in Ortigas.

According to a Campos press statement, Twin Oaks would rise on a 2,500-square meter section that should be more pedestrian-friendly, despite being situated along the jeepney-and sidewalk-choked section of Shaw Blvd.

"No other developer has taken community planning as seriously as we have done here in Greenfield District," said Campos, referring to the 15-hectare Edsa Central development that he said would simulate "the benefits of living within gated communities like those of plush subdivisions in Makati."

The 15 hectares are actually two adjoining lots, six hectares from what had been for the longest time the headquarters of United Laboratories on United and Sheridan streets, and the nine-hectare former warehouse and parking lot behind it.

Like Ayala Center and Greenbelt, there would also be a series of interconnected walkways between buildings within Greenfield while underground, there would be interconnected basement parking levels "that mimic the on-ground network" that should get the drivers and their passengers faster out of Greenfield into, whoops, the daily gridlock of Pioneer and St. Francis streets.

Still, "the other business districts cannot benefit from extensive community planning basically because most buildings and infrastructure are already in existence and, if at all considered, community planning has been done only at the tail-end of their developments," said the Campos statement.

 

(Back then, they were talking about a price of P 100k psm, which seemed high for the area then:

"100K++/sqm na ba ang selling price ng ortigas area? to think, this is already on the outskirt of ortigas and not within ortigas"

"Its more expensive than St. Francis towers of Shangrila!!! And they don't have a track record yet.
Maybe this is a high end product. But the district has not yet developed and they are charging this kind of rates already. I hope they're successful though as more players in the industry will make competition fiercer, and the skyscrapers better."

- SSC

But much development has occurred since then.)

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TWIN OAKS : MORE EXCERPTS from the SSC thread:

Greenfield_20District_20Site_20Planc484e

(It almost looks as if some of the early posts were trying to sabotage a project from a new developer)

+ Convenient commercial retail spaces on the 1st to 3rd floors. Functional amenities on the 4th and 5th levels. While 30-35 sqm studio and 40 -45 sqm 1 bedroom flats for the residential floors start on the 6th. Twin Oaks Place will rise by 2014. Very flexible 4 years terms that will comfortably fit even the tightest cashflow. For as low as 10% DP for a 3M, 30 sqm studio, monthly amortization is only at 12k/ month. Grab your own space and live your dream now! (#17)

+ Greenfield is re-launching and re-branding its corporate strategy with the introduction of a technology plan among its projects, which aims to ensure “unparalleled connectivity in the areas it develops."
The company is set to use copper wire or fiber optic technology to its Twin Oaks project, to be located in the more than10-hectare Greenfield District in Mandaluyong City, which promises to provide unit buyers with a “fully wired environment." Campos revealed that the technology will allow customers to “open their home locks and security systems thru their phones, adjust their airconditioning units thru their office computers…and access their home systems remotely from anywhere in the world." This technology, called FTTB or Fiber to the Building, will be used for residential and commercial developments in the District project. “We are currently working with a world leader in networking solutions to help us starting with Greenfield District and Twin Oaks Place. We will be providing a digital backbone for Twin Oaks Place which will allow greater ‘connectivity’ for its residents. We are making Greenfield District and Twin Oaks Place ‘future ready’

+ very HIGH TECH!

A 31 sqm unit is P3.155M / 31.5= P 100 psm (#35, March 2010)

+ I woudn't buy here. Yun lang walkway to MRT at ground to 3rd floor commercial areas ng Soho central ... SOHO is the first project of Greenfield (joint venture with Century) ... Just look at EDSA central and its surrounds before you buy into this project. The building where national bookstore is is practically empty. Walang tenants dahil pangit ang interiors and poor management. Wet market lang nila eh di ma i-maintain nag husto. Rats have settled permanent residency and they are huge and furry. lol.gif. Very ambitious but fact is Greenfield does not have the experience and capability to cater to high end developments and will only disappoint their buyers. Twin oaks pa na Hi-tech kuno !

 

+ The newly redeveloped Greenfield District Hub seems to be slow on taking new tenants, I wonder why.
The old EDSA Central Square/Greenfield District Square on the other hand, while empty inside (and although the Shaw-side is good and full of tenants), seems to be slowly gentrifying the Greenfield District with North Park and Coal RestoBar both facing the Central Park and the soon-to-be-redeveloped Greenfield District Marketplace. I smell more upmarket dining coming your way at the Marketplace after its redevelopment, what with its very promising Greenfield District Central Park view. All these developments slowly seem to gentrify the Greenfield District, hopefully sooner than later.(#81)

 

+ 2BR Price: "As I knew there is php129,000 exclude VAT per SQM but they may increase on Sept. " - Aug. 2012 (#156)

+ I was told today that the company that was supposed to install the fiber-optic cables has pulled out due to not being paid. Additionally, that there are now consultants. But, consultants do not install so where is the building with this problem?
All those tubes I saw with nothing in them buried in the concrete floors.(#161) / Wrong info bro.(#162)

 

+ quite excited to move in myself! there are so many things happenings in the district. i got a couple of pictures here from my sales agent, apparently they were toured inside the lower level of the tower with actual units. it looks like Greenfield delivered more than what was promised. here are some of pictures:
(very classy) door arch: view of the park (Greenfield side) from a (studio) unit:
more views for some corridors:
im impressed - Jan 2013

+ Kudos to Greenfield Development Corp. sana glass-based ang facade ng mga project/s nila - Feb. 2013 (#220)

 

twin-oaks-place-west-tower_rchitects-inc

 

+ Recently, Greenfield Development Corp. broke ground for the Twin Oaks Place East Tower. The second tower of the first intelligent and future-ready home in the Philippines.- May 2013 (#252)

 

+ Checked the closing fees details I got, it says May 2014 ang turn over, so its 2nd quarter of 2014 and not 1st quarter as I previously posted.
I am still waiting for a letter indicating parking slots. P1M for parking plus Misc....diba usually it depends on which basement floor ang parking and the cost....
Maybe P1Million parking is the 1st basement. The lower the parking basement..the cheaper.(#255)

 

+ so in your opinion which is better arya at fort bonifacio or twin oaks at edsa central?

For my own opinion, prices in the fort bonifacio and makati, regardless of what project and developer, offers better bang for the buck. Why? Global city has higher zonal value. More opportunity for your property to appreciate in value. That's also why Arya Residences started at lower unit prices then now being sold at the same price ranges considering Arya and Twin Oaks are both high end projects (#268)

 

+ although twin oaks looks impressive but i do think they are not in the high end category for me high end condos are pacific plaza, one roxas triangle and discovery primea and other simillar condos. any project that has only 2-4 units per floor then there is the parking. i think pacific plaza has over a thousand parking slots with unit sizes at 300 sqm at 2 units per floor.(#274)

 

+ my unit is a corner unit..i compared from that of the model unit…on the corner unit. you will see that there is no space when you open the door unlike the model unit…(model unit has a receiving welcome table)… the c.r. of the model unit is bigger because there is a door in the main condo so hindi na kailangan to go inside the bedroom to access the bathroom..sa turnover unit…the bathroom is smaller and no room for that.
it is still best to check your actual unit and base it sa model..you will see a size difference…i even asked the person manning the model units sa showroom nila.. they couldn't even explain…sabi nila..sir maybe hindi yung malaki corner unit nakuha ninyo… sabi ko.. impossible..kasi yun ang nasa contract.. anyhow…there are other things like electrical outlets you should also check and notice how the placement is at.. (example..for the ref..the outlet is on the counter wall side already…but usually its at the back of the ref..in short..the ref covers that electrical outlet… another outlet is too close to the provision of the counter top stove…small things but should already been looked on by a interior designer or at least for safety lang…
anyhow..i hope that this building will be good… kelan ba ang tentative turnover? june or july?- Jan 2014 (#323)

 

+ Hi guys, how much is the 1 unit with balcony preferably on lower floors? Thanks.

6-7M that was the quote i got last year around june i think. Not sure if there has been an increase since then - Apr 2014 (#330)

 

+ The Slope, the Gutter & the Uglification Campaign (#336)
http://sohocentralcondominium.blogsp...-campaign.htm

It looks like Soho is building the wall. Who's direction to build this? This is a bad solution for a drainage problem. The wide sidewalk of Twin Oaks and Soho makes a big difference for pedestrian and the beautification of the area. If you gather signatures to stop this, you may ask the building manager of Soho, Ruel is a good guy (does he still works there?).(#339)

Question is now, is the drain deep enough? It seems wide enough. Will the metal grill be properly fitted so walking is not a problem? I gave up on trusting developers. This needs inspection by as many Unit Owners as possible.
Then after inspection and in the words of Ronald Reagan, I suppose, tear down that wall.
But, this is just another mess that should not have taken place with backwards action and more bad marks for the Assumed Board and neighbor who also has seats on our unelected Assumed Board of Directors.
See photos: http://sohocentralcondominium.blogsp...ill-cover.html

 

+ Great pics! The unit looks so posh, even if it's still bare

 

10313960_10152106037903317_7663148011145

 

10352601_10152106038463317_2161569234694

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MORE TWIN OAKS - Sept. 2014 Handover of Twr-1 and beyond

 

+ Some pictures I took this September, 2014.
This is the gym area. No equipment yet. The space is huge tho and fully air conditioned. (#382)

 

top1_gym2_zpsb84a71e9.jpg

top1_gym_zpsfb08a8de.jpg

 

+ You are right. I try to be optimistic but they are damn slow with the unit turn over. They make a lot of promises but sometimes it's very frustrating when talking to them. Still I have high hopes for this. The area is looking very nice. I can only hope it becomes the "Serendra" of Mandaluyong.
I didn't bother with the parking lot because the MRT is just a couple of blocks down the road. Plus, 1M pesos for parking space just don't make a lot of investment sense to me... but this is all my own personal opinion. (#323)

 

+ As for the parking space. I did a little math. The parking space cost about P1 Million pesos and the median price for rentals of parking space along Ortigas is around P 3000 - 5000.00 pesos per month. It would take me at least 16 years of renting just to make my money back :P

 

+ Anyone here who purchased a Premium Studio in Tower 1? According to the Tower 1 info kit, it has a Premium finish, the unit will be delivered with bedroom cabinet and range hood. However, my agent told me that in Tower 2, Premium Studio and Standard Studio have the same finish. The only difference is the size and I find it strange because they use the Tower 1 info kit to sell Tower 2. (#390)

 

RED%2520OAK%2520-%2520Building%2520Locat

St. Francis, to the Left. Twin Oaks, to the Right

 

+ Those St. Francis twins... ugh... ugly cladding. Hindi pa pantay yung lapad ng batman ears niya.
In contrast, Twin Oaks has a beautiful facade despite not being so glassy. Very clean lines and nice windows. (#408)

The units in St Francis and amenities are better. (#410)

 

+ Good:
1. Facilities like pool and gym
2. Aircon lobby and its huge.
3. Design of the building facade
4. High tech ready building
5. I.p. phone and its router

==
I agree with your observations.
Addition to the good side:
- The area is rapidly being revitalized. I like how there's a lot of restaurants nearby and food won't be a problem even at night. This means the property values will go up and your units will appreciate in value faster.
- Love the events that Greenfield organizes.
But...
Traffic in the area along Shaw Blvd. is still crazy as ever. (#415)

 

+ The condo unit comes with a "free" video phone unit which allows you to video call other units or the lobby. Also the unit is outfitted with a Wifi router but you will need to subscribe to their internet services (if you want internet) or you can install your own. If you want other stuff like powered curtains, thermostat or other smart devices that can be controlled using Wifi or remote you have to buy/install those systems yourself. As of December 2014 - April 2015 they are allowing owners to use the building's built-in internet for free (it's not too fast about 2 Mbps but it's free so no complaints).(#425)

 

+ For all owners, the Condo dues will be P110/sqm per month. The first billing statement covers Feb 2015 - May 2015.
VAT inclusive

 

+ Turnover? (Tower 2)

At the rate the construction is going , it is looking more August 2018. Two years behind Schedule. Change of Plan upper floors??/ maybe but don't think so. I think pre-selling slowed down significantly . (#444)

 

+ Delay? No regrets. But yeah their loft units are very expensive (I think PHP 8-12M for the loft units). Plus there's a lot of condo construction going on in the Philippines ATM so they have a lot of competition in the condo-selling industry (I've been offered by half a dozen developers even here in California). One of their main selling point is the whole building is connected to the internet I think they should improve on that. Maybe offer a cheap but fast internet to their tenants/unit owners that way it would attract young IT professionals (that have the money) to buy or rent knowing the building has great/fast/cheap internet access. It is probably a good idea to convert the expensive loft units into more studios/1-2 BR units after all the people with PHP 8-12M to spare is probably pretty limited. (#448)

 

+ My only misgiving with GDC is that the pace of overall development is at a snail pace. They seem to be taking their time. Otherwise the location is Prime and the Masterplan is outstanding. interconnected building via elevated walkways,fibre optic technology, open spaces just to name a few. Also, unlike other Real Estate Development, GDC does not have any timetable for their projects. So everything is a guessing game.(#449)

 

+ As of September 15, 2015 the construction of Twin Oaks Place Tower 2 has finally resumed. Realistically speaking the turn-over will be around the 1st quarter or 2nd quarter of 2018 , that is assuming there is no further disruption . I think the elevated walkways will still be a long way to go. Currently there are only two high rise Buildings in Greenfield District , Soho and Twin Oaks 1. They need to construct more buildings and malls in the area to be able to construct elevated walkways. When they will build other buildings is still a question that remains to be answered. If the pace of development over the last 5 years will be used as a measure to predict future development , It may take around 10-15 years for the master plan to to be fully accomplished in my opinion.(#460)

 

+ May mga options naman na offer ang GDC
1. Continue lang daw ang existing MA hanggang june 2018 para daw less na yung loanable amount sa bank.
2. Extend daw ang MA for DP hanggang june 2018, so every moth ma reduce yung monthly amort.
May isa pang option in-offer sa akin. Pede daw silang humanap ng available unit sa tower 1, though medyo nag appreciate na yung value they can give daw discount for you.
So mamili na lang kayo kung ano gusto nyo...wait nyo mga sulat na darating sa inyo. Kasi may 60days notice sila na nirequire to respond sa offer nila otherwise they assume daw to process yung purchase under original terms and conditions. meron bang option 4 - full refund of payments plus fair amount of interest? I almost bought a unit here, buti na lang di natuloy. I felt the 3 options offered to you were all not reasonable. I pity the buyers, that's your hard earned money (#469)

 

+ As a person that has a unit at tower 1, for those unit located along shaw blvd, think 2x before choosing this side, as the noise from motorcycles, jeeps, cars are very annoying. The glass used is only 1 pane glass and noise does come in the unit. Just a little tip.
Ive put in additional rubber/felt stickon along the windows that open up and doors for the balcony. i have sheer and heavy drapes, but the noise still comes in. My unit is on the mid floors of the building, but the noise can still be heard.
I can't really do anything about this and I am not sure how I can put double pane glass on the fixed windows. (#475)

 

Maceda Law ("Realty Installment Buyer Act")
PLEASE SPREAD THIS MESSAGE TO OTHERS.
This law helps those wanting to get rid of their condominium unit. I was just told that another new condominium building nearby with fewer problems for now has many units up for sale after its recent turnover last year. I wondered what the reasons were and was told by a broker that many living abroad want to get rid of their units since they do no see the Philippines getting any better and they see the investment declining. Yes, and now they cannot all sell their units for what they paid. So best for many to look into the Maceda Law as compared to reselling to see which option is best. Here are a couple of websites, so please search for more information. (#477)
http://www.lawphil.net/statutes/repa...6552_1972.html
http://archive.sunstar.com.ph/baguio...-rights-368038

10554267_528941517287415_1623681011_n.jp

 

 

+ What can you say about our Internet Broadband Plans?
TOP keeps on advertising that we are the First Future Ready home with fiberoptic technology and highspeed internet

but what happens with these speeds and plans?
Fiber Broadband Plans in our neighbor Buildings:
- Flair Towers
- One Shangri-la Place
- St. Francis Shangrila
Plan P2,499 = 50Mbps
Plan P3,499 = 100Mbps


Twin Oaks Place (Fiber)
Plan P999 = 3Mbps
Plan P1,995 = 5Mbps
Plan P2,699 = 8Mbps
Plan P3,500 = 10Mbps


Reference: www globe.com.ph/platinum/broadband (see Mandaluyong)
Reference: www leopard-ict.com/mobile (see broadband plans posted) - (#491)

 

+ They should allow month to month billing of internet services (last I inquire I am getting conflicting information such as 3 months to 12 months tie up required daw -- they need to get their information straight). Also they need to streamline the application process of internet services after all you are pre-paying for the service. Comclark is the sole ISP supplying internet bandwidth to Greenfield/Twin Oaks which is slow and expensive (even more so than Globe/PLDT/Sky Internet/Destiny etc.). I have talked with their engineer and they plan (hope) to get a deal with TELSTRA/SMC if the deal ever becomes a reality. Globe/Sun mobile signal is really weak in the building, I can't get more than EDGE speed while I can get at least 6 Mbps LTE from Globe inside SM Megamall. The building infrastructure itself is future proof. It has a 1Gbps fiber optic backbone/network, unfortunately the ISP connection is tiny. It barely uses a fraction of the bandwidth capacity of the building. It's now almost 2 years since I've received my unit in TOP1 and all the little things are starting to deteriorate such as paint inside my bathroom door is starting to come undone. The building is actually constructed very well and they certainly kept up with the maintenance of the facade of the building but little things inside the units are starting to break. This is my unbiased view. Am I happy that I bought this condo ? Yes. Am I 100% satisfied ? I would say 80-85% satisfied. There are some little things that bothered me such as small toilet tubing (if you use a fairly thick wad of toilet paper it's gonna clog 100% guaranteed), paint in my bathroom door are now forming bubbles/curing (from the heat or chemicals daw according to building engineering). They refused to fix the door kasi out of warranty na daw and I have to fix it on my own dime (1 year warranty only). - March 2016 (#508)

 

+ Is there a possibility that GDC will go bankcrupt and we'll just lose our money?

What's the real deal on TOP 1 & 2?
Is it true that in TOP 1, condo units are not sold out and has many empty units?
I bought in TOP 2 but due to the delay, i am now scared that GDC will go bankcrupt.
Please share your experiences good or bad.
Thanks!

I don't think they will go bankrupt. The area is becoming pretty lively as a commercial area. Almost all the strip mall area are pretty much rented out na. There's a fairly large amount of visitors that patronize the area esp. during events and on weekends. I noticed there's a lot of foreigners / retirees / expats living in the area which means they will be patrons to the various shops in the area which translates to a commercial success of the area and also an increase in the value. (#509)

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Continues...

12558931_576292715856050_766457837_n.jpg

 

More comments - AFTER: June 28, 2016

> MORE: http://www.skyscrapercity.com/showthread.php?t=957974&page=26

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Another Project on Shaw Blvd.: This story from 2014, when studios were about P 90 - 100 k psm

 

Recent price: 1 BR (29F- 0004) : P 3,762k / 32.00 = P 117.6 k psm

--------------- > Spot cash discount: -P 374k =

 

Vista Shaw builds on history

By Kap Maceda Aguila (The Philippine Star) | Updated April 11, 2014
Vista-Land.jpg
Vista Shaw brings the warmth of a Filipino home and neighborhood into a vertical community.

MANILA, Philippines - Often, in the mad rush towards development, there is little time to smell the roses. Actually, some would actually simply mow down the rose bush if it got in the way.

Giant real estate developer Vista Land was surely confronted with such a decision when it acquired a choice, 6,386-square-meter property on the corner of Shaw Blvd. and Laurel St. in Mandaluyong City.

The “rose bush” was the historical mansion of the late great President Jose P. Laurel. Well aware of its significance, there was no question for Vista Land the landmark would be bulldozed. “Originally, we thought of adapting the Laurel Mansion into a grand lobby but we decided to leave it untouched in order to preserve its integrity as a historical place and allow our residents to see it in its former glory,” said Elizabeth Kalaw, division head of Vista Residences (Vista Land’s vertical development arm, established in 2006).

 

While it remains under the aegis of Vista Land, the mansion will be converted into a museum replete with memorabilia the late president – continuing to stand as a reminder of a bygone era even as Vista Residences now prepares to erect two residential towers behind it.

“(The mansion) is part of the aesthetic plan of the entire location,” Vista Residences corporate communications head Emma Amores said at a recent press conference. And perhaps even if Vista Residences didn’t have a direct hand in it, the prime location has become more convenient – chockfull of destinations and establishments to make the address even more alluring.

 

Right across the street is a membership-shopping establishment S&R, where the old Cherry Foodarama grocery once stood. Cherry is set to rise again just behind S&R, by the way. Vista Shaw (which nixes its former name 515 that denoted the address) is also a heartbeat away from main urban artery EDSA, yet far enough from its frenzy. A Vista Land-controlled commercial area is also part of the master plan, which now houses a Starbucks and a Project Pie. Ground-floor space has also been apportioned for locators such as, presumably, laundry services.

Vista Residences additionally point out that Vista Shaw is “in close proximity to shopping destinations (Greenhills Shopping Center, Robinsons Galleria, Shangri-La Plaza, SM Megamall), hospitals (Cardinal Santos Medical Center, Pasig Medical Center, Medical City), and educational institutions (La Salle Greenhills, Don Bosco College, Xavier School, Poveda College, University of Asia and the Pacific).”

 

The first tower of Vista Shaw is set for turnover in December 2017, said marketing head Rowena Waterhouse; takeup has already reached 40 percent. Studio units (ranging in area from 22.4 to 27.6 sqm) are priced between P2.2 to 2.5 million, one-bedroom units (30.4 to 36.03 sqm) are between P3 to P4 million, two-bedroom units (40.7 to 50.4 sqm) cost P5 to P6 million each, and so-called “tandem” units (60.8 sqm) go for P7 to P8 million apiece.

==

> MORE: http://www.philstar.com/real-estate/2014/04/11/1311081/vista-shaw-builds-history

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SALES Now - at Vista Shaw

 

> OLX : https://www.olx.ph/all-results/q-vista-shaw/

======

Turnover Date: June 2018
P 2,811K / 22.40 = P 125.5k per SM (new) 25 July: Gloria Ambulo
P 2,800K / 21.00 = P 133.3k psm (new) 1 Aug.: Jonathan, cebu
P 2,672k / 22.40 = P 119.3k psm (new) 23 Jul: Vista Residences
P 2,672k /
P 2,625k /

 

> SSC thread: http://www.skyscrapercity.com/showthread.php?t=1756446

To date, Vista Residences has 10 projects under the Crown Asia Residences brand. These include Brescia Residences in Fairview Quezon City, Madison Place in Cubao, Quezon City, Pine Crest in New Manila, The Symphony Towers and Wil Tower Mall in Quezon City, Crown Tower University Belt in Manila, The Currency in the Ortigas Business Center and Presidio, a 16 mid-rise condominium structures in Manila.

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Flair Tower, Fame & other projects in Boni/ Shaw area

FLT+Location+Map.jpg

Some quick notes from my Aug. 2016 Site visit:

 

+ Light : nice looking project from SMDC right ontop of a two story mall at Boni station, Completed and Sold out

 

14759257561_dmciflairtowers___Building_P

+ Flair : resort-like project from DMCI completed six years ago. Large flats (like 55 SM) at low prices, like under P 80 psm,

because rents are surprisingly low (like P 20-25k per month - 22.5k/ 55 sm= 409 psm) - is this because of the family orientation?

(Note: Young family members are unlikely to use the MRT on their own.)

 

+ Fame : small studio flats (24.6 sm) below the vat, like 127 psm (= P3,120k) - the same price on all floors

The 2 BR flats are all above the Vat threshold

Actual prices: $127-130,000 psm, depending on the payment plan

1: P3,129.0 k / 24.58 = P127.3k : 100% over 41 mos, or: 10% spot + 90% over 40 mos.

2: P3,176.9 k / 24.58 = P129.2k : 10% down, 10% over 39 mos, 80% at Month 40

3: P3,192.9 k / 24.58 = P129.9k :

 

+ Centerre : Avida project in four (?) towers. First tower was already turned over. Others soon.

Current Prices are like P 115-125k psm, which are competitive for the area

 

(Found these Rents in the area - just across Shaw Blvd.):

 

+ Cityland Shaw: 16-year old building with only two elevators, and dark parqueted floors

 

1 Bedroom : P18,000 + 2,500 = P20,500 / 46 sm = P 446 psm, Furn - 31st fl (of 32)
1BR, inner : P12,000 + 2,000 = P14,000 / 44 sm = P 318 psm, Unfurnished
Stu., outer : P12,000 + 1,500 = P13,500 / 31 sm = P 435 psm, Furn
Stu., inner : P 8,500 + 1,500 = P10,000 / 26 sm = P 384 psm, Unfurnished

+ St Francis

Offers (serviced?) furnished flats for 6 months at about P 1,000 psm and over.

For 12 months lease: "prices are negotiable"

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Ortigas & Shaw area residential buildings should be helped by expanded MRT capacity

 

MRT3 capacity (to be) doubled next year - Manila Times
+ Capacity will double next year, as new trains are delivered
+ MRT3 ridership is up 25% since January, hitting 500,000 passengers in late Nov.
+ This month, 38 light rail vehicles (LRV's) arrived from China, with 32 assembled and ready to go
+ New power system will allow deployment
+ System should be able to accommodate 800,000 within 2017

 

> see RAIL thread: http://www.greenenergyinvestors.com/index.php?showtopic=20586&page=2&do=findComment&comment=341966

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ORTIGAS readies P125Bn for Massive redev't plan

Ortigas&Co, is now co-owed by Ayala Land and SM Prime, and it has announced plans to spend at east P125billion for the massive redevelopment of its three planned master-estates
=
+ Greenhills (P60B), Frontera Verde (P60B), and Capital Commons (P5B, on phase 1)
+ Money spent will go towards Residential towers, BPO's, an expansion of shopping facilities

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BRIDGES can bring real change

 

NEW Bonifacio Global City - Ortigas Bridge - Why It Matters

 

This bridge will help raise property values, especially on the "cheaper" side (Ortigas?)

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From the "BARGAINS#1, under P 4 million" thread

 

"What Avida flat would I buy now... and Why?"

 

I friend in Hong Kong asked me what Avida property I might buy right now, if I was going to buy one.

Off-the-top of my head, I gave this answer:

 

A 23 sqm Studio flat in Avida Centere at something like P2.5 Million.

VIDEO TOUR - of Studio Unit

2osZKk4.jpg

The Avida Centera project has four phases, & the first three are sold out

 

Vicinity

- note Centara site's location between two MRT stations: Shaw Road, and Boni - On MTR : MAP of whole system

 

+ I like locations near MRT & LRT stations, and Centara is between two: Boni station and Shaw Road station, just 5-7 minutes away on foot.

 

+ The price is cheap. At about P2.5 million for a flat of about 23 sqm flat, the buyer is paying about P108k per sqm.
To make an 8% gross yield, the flat would need to be rented at about P17,000 per month. 10% = P21,000 per month. The location so close to the two stations make an 8-10% gross yield possible, especially once the surge in Supply within the immediate Boni/Shaw area is absorbed; and assuming some decent furnishings. Unfurnished would be maybe P12,000 per month.

 

+ While the availability of units at several nearby properties, like: SM's Fame, DMCI's Flare, Pioneer, and Zenit at Greenfield district, means there will be competition to find tenants, some jobs will be added at BPO's and offices in the area - and there are plenty of jobs along the MRT, near the stations. And many good paying jobs near Ayala, Ortigas, and in BGC, which is a bus ride or two away. Ayala / Avida's strong reputation as a good property manager should help attract tenants, as will the amenities. In fact, the availability of competing new units has probably help to HOLD DOWN PRICE RISES, since Avida has been less aggressive in raising prices at Centera than they have hat some other Avida properties, like Verio in ARCA South, and Asten in Makati

 

==
oYZiUpz.jpg

The area around Centera is becoming crowded

 

+ A Skycraper village is being built up in the Boni/Shaw area - It is dense and it could turn out to be like a tiny version of Mongkok in Hong Kong

+ Cash buyers can save 10%; so instead of about P2.5million, they pay P2.25million, or about P100k per sqm

+ Try buying a higher floor. In HK, one floor higher might cost 0.5-0.6% extra. But in PH, they will typically add something like 0.20-0.25% per floor. So it could be better to buy higher in PH, if appetite for high floors improves over time

 

fs-centera4.png

==

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Centera Site Visit - importance of Transport Links

4800049_orig.jpg

tFs9RCK.jpg

Standing at Boni near Light Mall, looking towards Shaw Road & Centera - Cityland's Pines Peak, & Flare, to the right

 

I went to see Avida Centera, and at P2.5 million for studios of 22-23sqm, it is not quite the bargain I thought.
There are 14 units left in Tower 4, but all of them have restricted views, partly blocked by Tower 3.
Still a reasonable price, given the location, but maybe not the no-brainer bargain that I hoped they might be.
Having said that, I very much like the transport connections of Centera:

cXu8XWy.jpg

Avida Towers Centera - as a close-up from the photo above - St Francis* Towers by Shang, on Shaw Blvd. in the background
+ A short 5 minutes walk from the Light Mall, at Boni station, on the MRT
+ A reasonable 6-8 minutes walk from Shaw station, depending on how you go
+ There's a walking bridge crossing EDSA, less than 1 minute walk from Centara
+ BGC Bus - once the bridge over the River, at Lawton street is done, there is likely to be a bus
from the Boni-Shaw area directly to BGC. The agent (John B.) reminded me that Ayala owns the
BGC bus company, and many Ayala Group employees have bought at Centera, so it would be likely
that there would be a BGC bus stop very near to Centera
+ Metro Manila subway - a subway stop is planned for Boni-Shaw area, and it is likely to be a within
a short walk of Centera. Most reports are that the nearest station will be on Shaw Boulevard, cor. Ortigas,
with another just south of the river, at Kalayaan road (cor. Lawton Avenue) where a bridge we be constructed.
When all the transport links are finished, I think this project will be a very central place to live,
for anyone willing to rely on public transport. Avida's Centera hits the right price-point for users of public transport
The amenities are nice, with five pools! And a very nice large pool.
1UkdYSC.jpg
The main pool of Centera at dusk
And the entertainment offered at Greenfield district are a big plus (on most Friday & Saturday nights, I believe.)
Once the (planned) shops and restaurants are in place, it will be a nice livable place to own, within easy
striking distance of BGC and other area on the MRT, and the future MetroManila subway
MMSubway4.png?resize=768%2C851
12725131_856093021184100_1362147320_n.jp
St Francis Tower (Shang properties) faces Soho and Twin Oaks across Shaw Boulevard.
(Photo was taken before the construction of Twin Oaks Tower 2.)
IF YOU ARE A BUYER or potential Seller at Centera
It might be useful for you to send me a Personal Message (PM) since I am aware of some bargains,
and how to get a better price

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CENTERA : Rent & Yield calculations

Accountant-Visor.jpg

Following Rental estimates were supplied by the Avida leasing manager

Avida Tower Centera Rental Rate ranges

UNIT ------- : Area (Sqm) : Bare, unfurn. : Semi-Furnished : Fully-Furnished / bare : Semi : FF :

Studio------ : 22.19-23.11 : 11,000-13,000 : 14,000 - 17,000 : 18,000 - 20,000 / 530 : 684 : 839 :
1-Bedroom : 35.95-45.44 : 18,000-22,000 : 23,000 - 24,000 : 25,000 - 31,000 / 479 : 577 : 688 :
2-Bedroom : 52.99-62.33 : 26,000-30,000 : 29,000 - 35,000 : 37,000 - above / 486 : 555 : 676 :
Parking----- : ----- N/A ---- : 5,000 / month :

Using Averages & Capital Values of P 115 per sqm, P200K for furnishing a studio, I get the following

 

UNIT-- : SqM. : x115 : Bare,unfurn. Yield / +half : Semi-Furnished--- / +furn. : Fully-Furnished-- /
Studio : 22.65: 2605k: 12,000=144: 5.52% / 2705k : 15,500=180: 6.65% / 2805k : 19,000=228: 8.15% /
1-BR-- : 40.70: 4681k: 19,500=234: 5.00% / 4831k : 23,500=282: 5.84% / 4981k : 28,000=336: 6.74% /
2-BR-- : 57.66: 5481k: 28,000=336: 6.13% / 5681k : 32,000=384: 6.76% / 5881k : 39,000=468: 8.06% /
======
I inflated the Bare capital values by the estimated costs of white goods & Furniture:
Studio: P200k upfront, 1-BR: P300k, 2-BR: 400k for Fully-furnished. I assumed that semi-furnished are half this.

Example: Capital value of a Studio goes up from: P2.605 million + 200,000 to P2.805 million, for Fully Furnished.

The yields are higher for FF, but the landlord needs to cover wear & tear, and depreciation of furniture,

subtracting maybe 1% or so from the yield. The property owner also needs to pay taxes & a commission to find the tenant

==

 

(In edit: I estimated P115k. In fact some RFO units may be a little cheaper):

 

Centera, T1 - 14th fl, facing amenities
===
List Price :   P2,616,300 / 22.44 = P116.6k
Cash, 10%- : P2,344,670 / 22.44 = P104.5k
Add on
Misc.closing: P 140,680 / 22.44 = P 6.27k
Total,Cash- : P2,485,350 / 22.44 = P110.8k
===
Cash price means 10% spot + 90% balance in 30 days.
Those who have access to bank finance, may be able to
finance the 90%.

Move-in can be near immediate, I think, so the cash price is the real one

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Better Yields at Cityland's Pines Peak?

fcP6o1K.jpg

A friend who has invested at Cityland's Pines Peak told me that he has been getting very good yields on his unit(s) there.

9ggSei0.jpg

He rents units Bare, and now gets P 12000 - 12500 per month.

 

He says that you can pay cash and get a unit for completion in Two years at maybe P1.3 million, or buy RFO at P1.7 million.

I think he paid between P 1.1 - 1.2 million two years ago.

 

Ignoring the two year wait:

UNIT-- : SqM. : x61k : Bare,unfurn. Yield /
Studio : 22M?: 1350k* 12,000=144: 10.7% /

*I added an estimated P50,000 for miscellaneous closing costs.

I am not sure the size of studios at Pines Peak

 

This is pretty attractive, and he tells me they have been easy to rent, showing the power of LOW rents in attracting tenants.

In general, he believes that Cityland units tend to be good investments, and generate low yields all around Manila.

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Axis Residences - Robinsons communities affordable condo in ortigas, mandaluyong,

axis-slide.jpg

A joint venture between Robinsons Land Corporation and Federal Land, Inc. - two of the country's most stable and respectable real state companies
with an impeccable track record and a reputation...
 

42-tower-a-typical-floor-plan-zone-2-21f
 
> source

SSC threads

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Boni-Shaw area discussion

========
This came up at the MeetUp yesterday. In fact, some discussions are still proceeding outside the Viber Chat
In case people who were not there yesterday are interested, maybe I can summarize the key points here:
1. PRICES, BGC: many new properties in BGC now cost P160k-180k, and they are still selling and price rises are sticking. This may be because many business are moving into new offices there, and people want and need to be close to their place of work, they cannot afford a one hour plus commute in each direction
2. PRICES, Boni/Shaw: an enormous number of new properties have been built in the B/S area.
Competition has held down prices. You can buy brand new units at P110k-P125k psm, and maybe less if you pay cash. (Having said that, some properties like Twin Oaks are priced above this)
3. TRANSPORT, MRT: one of the advantages of this area are the two MRT stations that define it. for those willing to take the MRT this is a central and convenient location. The transport should get better, if as expected, a new operator takes over next year and improves the quality of the MRT, bringing more trains and less crowding

 

untitled6.jpg

 

4. TRANSPORT - future bridge: ground has been broken, and construction has begun on a bridge that will cross the Pasig River at Lawton Street. This will greatly improve the access, ease and speed of traveling from B/S to BGC. A bus ride might take 20 minutes (my guess) or less to BGC. Presently, someone living in B/S might need to take the MRT to Guadelupe, and then switch to a jeepney (or two) - and those Jeepnies will go to Market-Market and require a ride on the BGC bus to get inside BGC. I imagine a journey time of perhaps 45 minutes, and longer if there are queues at the BGC bus. A collapse of transit time to 20 minutes, with a BGC bus operating from B/S should help to narrow the price gap

5. TRANSPORT - mega-manila subway: ground might be broken in early 2019, if all goes well. Stations are planned at Shaw and on Kalayuun near the Lawton street bridge. This will greatly speed up transport between B/S and the airport, and other strategic locations along Mega-manila line

===

 

The route now is longer, and more circuitous

route-nightrunortigasbhsviac5.gif?w=655

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BUILD BUILD BUILD team initializes construction of BGC-Ortigas bridge

July 19, 2017

15741548556_588d7276b6.jpg

 

The Duterte administration’s BUILD BUILD BUILD Team today conducted the ground breaking ceremony for BGC-Ortigas Center Link project. ” Soon, travel time from BGC to Ortigas will be reduced to 12 minutes,” the Department of Transportation (DOTr) said.

. . .

This project will construct Sta. Monica To Lawton Bridge and Lawton Avenue to Global City Viaduct, crossing Pasig River.

Public Works Secretary Mark Villar told ANC yesterday, July 18 that construction time for a bridge will take approximately 2 years.

He also said that the government is planning to construct 12 bridges that will cross Pasig River as part of efforts to decongest existing road networks in Metro Manila until 2022.

“We have approximately 28 now, when we finish we will have 40,” Villar said. “We will be building a minimum of 12 bridges across the Pasig River.”

 

“We also want to focus on people who walk, who use bikes, for the environment and also to service people, we want to just make a more conducive environment,” Villar noted.

Two of the bridges will be funded and built by China. These are the state-of-the-art Binondo-Intramuros Bridge in Manila and Estrella-Pantelon Bridge in Makati/Mandaluyong.

==

> https://www.update.ph/2017/07/build-build-build-team-initializes-construction-of-bgc-ortigas-bridge/19190

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AXIS Residences - An Old advert

qwikwire-investment-pitch-deck-6-2014-15

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Datapoint: Centera Rents - end 2017


Rentpad ASK : Size : PerSq : Adj.: Type
Stu  : 12,000 : 23.00 : 0,521 : 609 : Bare +2000 assoc
Stu  : 15,000 : 24.00 : 0,625 : 625 : Bare
Stu  : 15,000 : 25.74 : 0,583 : 524 : FF -1500= B
Stu  : 16,000 : 22.44 : 0,713 : 579 : FF -3000= B
Stu :  18,000 : 23.35 : 0,771 : 600 : FF -4000= B
=== : ------------: ------- : ===== > 587 >> use P600/mo.
1BR : 18,000 : 34.95 : 0,515 : 515 : Bare
1BR : 20,000 : 41.00 : 0,488 : 463 : SF -1000= B
1BR : 18,000 : 35.84 : 0,502 : 460 : FF -1500= B
1BR : 24,000 : 35.84 : 0,670 : 586 : FF -3000= B
1BR : 25,000 : 35.37 : 0,707 : 607 : FF -3500= B
1BR : 26,000 : 35.84 : 0,725 : 614 : FF -4000= B
2BR : 40,000: 50.00 : 0,800 : 680 : SF -6000= B
=== : ------------: ------- : ===== > 561

Will be interesting to see how these figure will change after the coming:

+ Tax reduction for Lower income tax payers (in 2018)

+ Opening of Greenfield's BPO's (first half of 2018, I think it might be.)

+ Bridge completion, making a better connection to BGC (Q3-2019?)

======

fs-centera4.png

WHICH FLOOR?

BTW, in HK prices go up something like 0.5% per floor. In PH, it is often only 0.2-0.25% per floor. Maybe Filipinos will eventually come to appreciate higher floors as much as HK, and especially in crowded areas. My own flats are on these floors: 22nd, 47th, and 49th. So I have put my own money where my mouth is.

But landlord's should keep in mind they will rarely get much extra rent for a higher floor.  Their higher floor flats may rent faster, and may eventually be sold at higher prices, but in between, they may have a lower yield

 

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