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drbubb

CITY GATE, KROMA Tower, & AFT (photos)

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The Rise is still experiencing strong demand - prices over P5million for 1BR, that's 175k psm

 

There is a coffee shop that I frequent near Greenbelt in Makati.

This morning, I overheard a conversation at the next table concerning The Rise.

So I asked the agent who was introducing the project to spend a few minutes telling me about the project, when she was done talking with her clients. They were a nice young couple, who seemed to be from mainland China.

 

The agent later dropped by my table, and her boss arrived too, and together they gave me an update. They are tied in with the developer Shang Properties, and so were very informed.

 

The Rise is now going up fast, and is at the 29th floor level. The constructors are now adding about three floors per month, and so they are now expecting to complete the project and with it turned over in about Q3 or Q4-2019. That would be behind the original 2018 date, but ahead of the rumored date, which some were saying would not be until.

 

Buying demand remains strong, and those few smaller units (25sm and 27sm) that are still available, are being offered at about P 5 million. (P 5000k / 27= P185 psm.) There have been three price rises totaling 18% in the past year.

 

The agent showed me some photos of the expected turnover condition of the kitchenette area and bathroom. In fact they looked better than I had expected, more similar to Alveo type standard than Avida standard. We spoke a little about the "windows" issue. They could not give me expect measurements, but they did admit the windows could be smaller than in the showroom. This would be because the area under the window would now be higher, not because the ceiling would be lower.

 

They have offered to give me some more info on prices, as well as some images showing the view in different directions. Once I get them, I will share a summary here.

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The Rise Views / FB page : https://www.facebook.com/TheRisebyShangrila/

The agent (Kristine) was kind enough to provide me with some photos showing different views

Here are just a few, showing the view from high floors ... PB :

Rj65aXz.png

(There were many more. If you want to be put in touch with her, send me a Private Message, and I will give you her contact address.)

She also provided a link to a Facebook page for The Rise (her contact details can also be found through the FB page)

> https://www.facebook.com/TheRisebyShangrila/

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Remembering what is coming to Citygate...

Place Making has been a skill of Ayala Group

To highlight its key location on one end of Makati's famed Ayala Avenue, Citygate will have a distinctive Urban park, on 2-3 different tiers
1/
7035766.png
2/

ZUdFaM7.jpg

The Citygate skypark will be above the traffic and so should be a place to get some (fresher?) air and get away from the noise. : PB :

There is also a walkway along Dela Rosa connecting it to the Greenbelt mall

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Yes! These plans are dense, especially at the Air

I hope they have good elevators at The Rise and Air Residences

 

Air Residences' 74-75 units per floor is correct. The rise has about 55 per floor, in comparison.

Air%2BPresentation%2B-%2BReleased%2BTo%2

 

Here's an EXPLANATION of why the great density (at Air Residences) might benefit buyers:

 

Yes the unit are small but they cater to a different target market, those who would not otherwise afford a bigger much expensive condo. So yeah, it's not a best design building, but some people here will call it home and I think we should respect that. SMDC at least build towers that are affordable to locals. Too much condos now caters to luxury/expat market.

==

> ssc: http://www.skyscrapercity.com/showthread.php?t=1456032&page=20

 

But at recent levels of maybe P 150k psm or more, Air is not much cheaper than The Rise.

In fact, The Air launched many months AFTER The Rise, and it seemed to me that prices were pretty similar,

and that The Air was selling many of its units to people who wanted to buy at The Rise, but were simply too late to get in at the "lower" prices that the first 60-70% of the units were sold at.

 

I don't think that Expats are automatically willing to pay higher prices. Many have budgets too

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The Rise vs. Air : locked in the "completion Olympics" Competition : Who will finish first?

 

The Rise started months earlier, but there was a delay at the foundation stage, and Shang had to change contractors

 

ebd1cc612839ff440a9fa095ee55f829.jpg

 

The Rise is now moving at a good pace

========
June 2014 – Start of excavation
Mar 2016 – Completion of Substructure
Apr. 2016 – Start of Superstructure
Aug 2016 – 2nd Floor
Sep 2016 – 3rd Floor
Oct 2016 – 5th Floor
Nov 2016 – 8th Floor
Dec 2016 – 11th Floor
Jan 2017 – 14th Floor
Feb 2017 – 17th Floor
Mar 2017 – 22nd Floor
Apr 2017 – 29th Floor

Q2 2018? : 59th Floor ?

===

?? The Rise : 210 m : 59 F : 2019/20?

?? Air Residences : 195 m : 51 F : 2019/20?

===

> ssc: http://www.skyscrapercity.com/showthread.php?t=1723515&page=71

 

Not-quite-twins, perhaps we should call Rise and Air, the "mismatched twins", or "odd ball twins"

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Air and Rise are neck-and-neck, beating Citygate in the skywards competition

QrZi31T.jpg

Citygate will not be as tall as the "oddball twins", so they may all three may all top out around the same time

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P 4-4.5 Million Price Window a "sweet spot?" : Broker seeking transactions

I am in Hong Kong as I write this, and I had a meeting today with a broker friend who is visiting from PH. We also met with a couple here who have bought some properties in Makati. After the couple left, we had a chance to discuss the type of business the broker was looking to develop; and what in particular might suit new buyers (from HK and China) who may be purchasing their first property in the Philippines. We agreed to call a particular price-oriented marketing strategy the "P4 to 4.5 Million Window strategy" since that is the price level which may suit both buyers and sellers in the Makati area, but at The Rise and Air Residences in particular.

Umnpx8v.jpg : PB :
P 4-4.5 million /6.30 = HKD 635,000 - 714,000: only about HK$2,200 - $2,500 per sf

Here's an example, using The Rise; where for 1BR flats are about 27 sqm meters:
===================
+ There are Buyers "stacked up" at various price levels below P 4 million (/27 = k148k psm), and
+ There are Sellers "stacked up" above, seeking P 4.5 million (/27 = P167k psm) or more

+ Buyers and Selllers willing to entertain transactions at price levels between P 4-4.5 Million, have a very decent chance of getting a transactions done. Outside that range will be more challenging (in the secondary market.). Having said that, I have been told that new property transactions at the Rise are getting done at P 5.0 million (/27 = P 185k psm) and up through the developer, Shang Properties. But those higher-priced transactions may include some financing by Shang. And some buyers prefer to deal directly with the developer, because they will have a chance to visit the showroom. and consult with the developer's agents, who may be able to answer a large range of questions. For some buyers, this direct contact, may justify a higher price. But not all buyers will feel that way.
NEW6.jpg
The Rise is an attractive project, in a good location. I reckon it will be a popular place to rent and to own. The excellent amenities (designed by a top hotel operator) are a major attraction. Buyers in Hong Kong will be familiar with the parent company, Kuok Group from Singapore, which has several top-grade hotels around Asia. All potential buyers should be familiar with Shangrila Hotels.

I suggested to my agent friend that he/she keep a record of Buyers and Seller near that price level, and let me know if there are parties willing to transaction inside the Targeted price range.

If you join the site (here's how - see post #3), and send me a PM, I will put you in touch with the Agent.
Alternatively, if you want your interest more widely seen, I am happy to allow people post here some details of transactions they want to do, with a special preference here for the P 4 - 4.5 million transaction window.
This is especially true for transaction interest at The Rise, and neighboring buildings in the Citygate area.

- Dr Bubb

 

*NEWS* about another Shang-developed property:

Shang Salcedo Place opens May 15, 2017 (that is today! click at left to see photos)

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The First Bridge over Gil Puyat is finished; second is is needed (eventually)

gr4Czu5.png

The first bridge will help residents at Columns, Alpha Tower, and Lerato connect to Ayala Avenue, as this area will get busier and busier in the immediate future ... PB :

A second bridge is reported to be in the plans. That one (when finished) will be very useful to future residents at The Rise and Air. (an SSC poster thinks the second bridge will go somewhere else... near jazz maybe?):

cool_78
I think this is because its in the Buendia side. From what I gather, there will also be another footbridge across the street from Mapua going to Jazz Residences.
> ssc

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You mean like photos?

Maybe I will have a chance to take some next week.

Kroma Tower has topped out, so I think most of the changes now will be internal - until they complete

=====

 

In edit, go to page 3 for some new photos of Kroma:

> http://www.greenenergyinvestors.com/index.php?showtopic=21029&page=3

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The Rise and Air in Location - What is Near-by

(City Gate is just to the left of the map area)

 

HxoK0qU.png

MAP - The Rise and its area ... PB :

> link: https://shangrilaproperties.wordpress.com/ /

# codes: http://www.myproperty.ph/uploads/unit/000/937/643/197dc0786d5d980ba5a6a227a774bba5eb23463b_1.jpg

====
7. : National Shrine of the Sacred Heart
8. : Tiara Oriental Hotel
9. : Makati Fire station
10 : Makati Post Office
11 : Makati Central police headquarters
12 : Makati Medical Center
13 : People support
14 : RCBC Plaza
15 : Gas station
16 : Gas station
17 : Bank of the Philippines Islands
18 : Rustan's Supermarket
19 : National Bookstore (Alphatower Mall)
20 : Handyman, at Alphatower Mall (gone?)
21 : New Bombay, at The Columns Ayala
22 : Starbucks (Columns Ayala)
23 : Earle's delicatessan
27 : Skyland Plaza Condomniums

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Late May 2017 - Surpassing AXA... Air & Rise now at 30-plus floors

shot#1

DxkMleM.jpg

Air Residences, with Rise behind it, will dominate the intersection : PB :

shot#2

M2EhxbM.jpg

Rise vs Air, versus AXA from Makati Medical ,,,, The two sisters will eventual be about twice the height of AXA : PB :

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This Rise / Air alignment looks just a little different here

G4WEBu4.png

 

Here's another version of that Rise / Air map : http://www.shangrila-properties.com/the-rise-makati.html

 

front.jpg : Map : Restaurants nearby

About the Tiara Oriental Hotel (right next to The Rise) :

"The reason my company billeted me at this hotel is its proximity to RCBC Plaza, it's a mere .30 km. walk to our Makati Office and about 10-15min walk to shopping centers like Greenbelt, Glorietta, Landmark and SM.
Tiara is a small business hotel with basic amenities. I've stayed here a couple of times already on official business or with my family, and I generally like the place. My latest stay, however, was not as pleasant as my previous ones. I stayed at room 509. The shower didn't have hot water and the towels they gave me were old and nasty looking. I stayed for 3 nights, I complained about the lack of hot water in the bathroom and the old, worn out towels, to no avail. Plus, internet connection was very poor in this part of the hotel. My own mobile wifi device could hardly get a signal. The room lights are dim and not conducive for reading. The pillows are not hard, but not soft either and the closet is pretty small.
Anyway, on the positive side. I like the location of the room, it's a corner room with two big windows overlooking two corner streets. The size of the room is okay, it is clean, has big mirror and it has a mini bar..."

 

THIS is from a History of Makati :

https://www.pampubliko.com/background-briefings/view/urbanization-and-the-rise-of-makati

Makati City in its entirety was never intended to be a reserve of the elites. It aimed principally to be an economically integrated district, which, given its function as a space of increasingly differentiated economic activity, could also cater to the needs of the city’s working classes, primarily those working in the service sector. Today, however, it is an increasingly polarized and socially segregated city, bringing into focus the wider geography of class inequality in Metro Manila.

McMicking’s initial vision of New Makati, in contrast to Forbes Park, was to make this real estate development more accessible to wider strata of income brackets, which would then be integrated into the rest of Makati’s existing economic landscape. However, this master plan, even if conceived and implemented by private capital, turned out to be equally subject to change and contestation from other forces, just like any other urbanization plan. While there was every intention for New Makati and Makati to be paired into a nominally integrated district, rising land values in the 1950s made the choice area of New Makati more expensive than anticipated, such that only high-income families could afford to settle there.

What Ayala offered was not just land for houses and offices, but an American lifestyle suburban development that was particularly desirable, to the point where demand outstripped supply, prompting Garrido to conclude that "postcolonial cities are dual cities not just because of global market forces, but also because of ideological currents operating through local real-estate markets."12 Segregation of the elite grew apace, and Makati today stands to highlight the divergence in the objectives and agendas of different social actors, as well as the microcosmic example of the urban arena as contested space.

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"This Rise / Air alignment looks just a little different here"

Yes. I had forgotten about that clear image!

I have now replaced the old one, with this one in the map.

Here's a better image showing the floorplan on the higher floors (39/Fl and up?) at The Rise

kYjGX2r.jpg

===

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Citygate is becoming the center ... of new place-making artistry for Ayala Avenue & North Makati

hVECgeg.jpg

City Gate, on May 15, 2017 .... PB :

TrEGsE8.jpg

Kroma Location. The Tower dominates, and looks down Legazpi Street : PB :

By contrast, Bolanos St., is a narrow street providing mostly parking access.

c8RklYD.jpg

The model shows relative locations of various buildings

IDxiblt.jpg

"It looks Majestic," said a Kroma flat owner, as he looked upwards. He was standing next to me, as I took this photo... PB:

Kroma dwellers will be looking down Legazpi Street to see these buildings.

KF8BTdx.jpg

Looking down Legazpi Street from Kroma. The tall buildings will remain, while the short ones may get developed in future... PB:

home.jpg

The "cheap" flats are in the Old buildings. Those who buy cheaply enough may get a windfall, if the building is sold for development.

55sqm 1BR unit in Windsor Tower is offered at P3.5mn = P63.6k psm

At P150k psm, Kroma would be valued at 2x to 2,5X (235%) of the price of Windsor Tower.

Seems right, the flats inside this old building, built 1983, looks old fashioned, dark and depressing.

Kroma seems to shine by comparison

A great safety net protects pedestrians walking in the area of Citygate

9011Rh2.jpg

On the Left, ALVEO Financial Tower is beginning to look "renewed" ... PB :

At Kroma, which has missed one completion date, the rapid pace of construction continues even on a Sunday

4rYQNAN.jpg

On Sunday, that elevator was moving as the flag waved. (I believe ALVEO can meet its revised deadline : estimated now: mid-2018) ... PB :

Citygate gleams in the sun, and transforms quietly when in shadow

cPWnsls.jpg

Citygate is now at the 21st /floor. Can you spot the flag? (hint: 7th Floor) ... PB :

1446876402.png

The building above is the HQ / Hotel building, the thinner, taller one. On the other side of Citygate will be a BPO.

382-city-gate-1.jpg

In the Tower at right: above the mid-level terrace (at 19/20 fl) will be a "large" Seda Hotel with 312-rooms.

At its ground breaking in and the Makati hotel was expected to open in 2018. Now later? 2019-2020?
Seda Makati is a prime location is part of the Ayala-led group's plan to become "the Leading Filipino Hotel Brand"
Most of the other Seda hotels are smaller, with 150, 150, 179, and 186 rooms.

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CITYGATE Area Map

88rb2XY.png

MAP: North Makati Area... PB :

1fIiOrH.png

Air and Rise in approximate positions : PB :

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KROMA Layouts

Completion is only a year or so away, and so maybe it is not too early to beginning some early thinking about decoration, etc

Kroma+Tower+floorplan.jpg

Building- : Developer---- : Year: Height Tw: Floors, Units : /fl.: elv : stu : 1br : 2br : 3br/unknown
Kroma Twr : Alveo Land--- : 2018 : 157 m. : 1 : 51 st : 0,802 : 20+: 5 : 240 : 0,442 : 119 : 01 (penthouse)
compare:
The Rise : Shang Props. : 2019?: 210 m. : 1 : 59 st : 2,822 : 51 : 18 : 166 : 1,992 : 664 : 00 :
Air Resid. : Smdc Premier : 2020?: 195 m. : 1 : 51 st : 3,642 : 74 : 12 : 294 : 3,234 : 098 : 16 :
==========
Kroma Twr : Floors--> ##, Units: stu, ###: 1br, ### : 2br, ### :
Amenity-- : fls-#08-08> 01: 0,000: 02 , 002: 06 , 006 : 02 , 002 : 0,010 :
LowZone- : fls-#09-12> 04: 0,080: 04 , 016: 13 , 052 : 03 , 012 : 0,080 :
MidZone-- : fls-#15-30> 15: 0,345: 10 , 150: 10 , 150 : 03 , 045 : 0,345 :
HighZone- : fls-#31-51> 18: 0,360: 04 , 072: 13 , 234 : 03 , 054 : 0,360 :
Penthouse: fls-#52-52> 01: 0,007: 00 , 000: 00 , 000 : 06 , 006 : 0,006 : +3br:x1 = 007
= TOTALS : fls-#08-52> 39: 0,000: === 240: === 442 : === 119 : 0,801 + 1 (3br) = 802 units

1-BR

1BR+Kroma.jpg

2-BR

2BR+Kroma.jpg

> source: http://philproperties-avida.blogspot.com/2012/10/kroma-tower-makati-city-alveo-land.html

Building Heights compared ... PB :

CsFqMIx.jpg

Lobby, as envisioned

kroma-lobby.jpg

Pool lounge area

Pool+Lounge.png

Something different: The Enterprise Lounge, on the 52nd floor

3511-3-artists-perspective-of-the-kroma-

> Full Presentation (Citygate and Kroma): https://www.slideshare.net/sevenseaspropertycorp/kroma-full-presentation?next_slideshow=2

=====

Hey, the Enterprise Lounge is a great idea, but maybe THIS design is not the best. (More seating needed?). I wonder i we could get enough signatures to get Alveo to change it ? Visit KTO/ Kroma Tower Owners thread to discuss.

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"Green" AFT / Alveo Financial Tower is growing once again

This looks like a post-apocalyptic image of Makati... But it is not!

EUf5TFr.jpg

In reality, this building (Alveo Financial Tower) will likely become an icon of Ayala Avenue

Taken from a few steps up the steps of the new (green-painted) walkway, which may be temporary in some sections... PB :

Alveo Financial Tower | 188m | 49 fl | U/C - SkyscraperCity

The old Jaka tower has been renewed, as Alveo Financial Tower (AFT) - scheduled height: 188 meters, with 49 storeys.

That's PB Com Tower in the background - the 2nd tallest building in PH : Official Height: 259 metres (850 ft), with 52 storeys

BP9XO7H.jpg

The Philippine Bank of Communications (PBCom) Tower ... PB :

Soaring high its “PBCom” signage, this skyscraper dominates to be the (now second) tallest completed building in the Republic. I say “completed” because as of now while I am working with this post, The Gramercy Residences along Kalayaan Avenue in Makati City is now the tallest building however, she is still under construction.

The PBCom tower for most of the skyscraper is I believe to be one of the most well-known landmark along the span of Ayala Avenue. Near this office building is the unloading zone of hundreds of people from buses that come from Quezon City, Mandaluyong City, Pasig City and other places from northern Metro Manila Area. This is one of the finest infrastructure of the Philippine economy in the 21st century. Days and nights this building never sleeps.

> https://lonjaurigue.wordpress.com/2010/12/07/the-philippine-bank-of-communications-pbcom-tower/

ALVEO Financial Tower, from Presentations : SSC : 1 : 2 : 3 :

cYYcfU1.jpg

AFT will have loads of parking - 19 floors! : 568 units for sale, 94 units for Retail & guests

aft2.jpg

How AFT will look at ground level

Alveo%2BFinancial%2BTower%2B%2528V%2B3.0

 

image92.png?resize=1024%2C705

 

Alveo%2BFinancial%2BTower%2B%2528V%2B3.0

 

image72.png?resize=1024%2C771
Excellent views - along and away from Ayala Avenue

Demand for office space exceeds supply...

nXXQ482.png

XwilFh1.jpg

Office comparison

Not many Prime Grade buildings will compete directly with AFT

x7wNTva.png

Decent returns are suggested, if Rents rise as expected

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Citygate will welcome the public via its walkways and garden areas

A nice public space is emerging in front of Citygate 1 & 2

yaqH9UP.jpg

City Gate Parking and small Garden at intersection of Ayala Ave & Gil Puyat. Will it last? ... PH : thnx to: https://www.befunky.com/create/ image editor

GevXewk.jpg

City Gate plan with-kroma ... PH :

pAEycCL.jpg

Citygate Model ... PH :

jaCKB0K.jpg

Citygate-gdns2 ... PH :

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THE FRINGES of Citygate ... have both old and new buildings

View from a backstreet area

cQPOgxl.jpg

This is a close-up City Gate taken from narrow Sotto Street ... PB :

How crowded is Citygate?

23967597_378337825921364_223878157883251

From this angle, Citygate looks very crowded

Eihc9Ts.jpg

Crowded from here too - Lower Legazpi Street

dMwTGPR.jpg

The Seda hotel is starting to pop up over Makati Medical, so most hotel guests staying there should have a nice view... PB :

From Sotto Street, which is the (narrow) access street running parallel to Legaspi Street - the next main road is Salcedo St.::

sCKzQUC.jpg

That's CG-SottoSt ... PB :

The Shadow in which I was standing was cast (partly) by Kroma
Buildings on Sotto St., starting from the left...

ADDRESSES, Street numbers on Salcedo St
=====
# 180: Centro Building (red), now vacant and possibly ready for re-development - it is across Sotto st from the SMDC-owned GSIS building
# 178: Legaspi Suites (light blue)
# 176: Greenbelt Madison - 105 meters high : 31 floors, 2 elevators + 1 service : built 2012 by Megaworld
# 174: 1st Life Center
# 172: Philcox Building
# 170: Builders Center, with MyOffice co-working space; ground floor cafes: Bistro, ALek
# 166: BenLife / Beneficial Life Bldg.
Corner: of Dela Rosa: Kalayaan Bldg. (Unpainted concrete building)

+ That's Citygate 1&2 in the distance, the Seda hotel is being built up at the top of the lower building suggesting an open view this way too

WAThPJR.jpg

Back Street view: photo from the parking lot of Windsor Tower, whose main entrance is on Legazpi St, which is the next street over... PB.

=== ===

*We can think of Kroma as Alveo's better-connected "answer" to :

Megaworld's Greenbelt Madison (2012) and GB Hamilton (which completed in 2017)

Note: the better connection... is the presence on the walkway - very useful when it rains, will be appreciated by many people who work in the CBD

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Close-up look at Greenbelt Madison:

PQgUMhM.jpg

Photo of the GB-Madison Amenities floor (7th), showing pool with small gym in the background, complete with modern exercise equipment : PB :

7335209_orig.jpg

Megaworld's Greenbelt Madison , 176 Salcedo St was completed in 2012.

+ Per Zipmatch, there are properties For Sale at GB-Madison: = ave: 175k psm*

(p6.5M/37sqm=P176psm, 7.0M/37=P189k, 8.3M/49=P169k, 13.0M/78=P167k, 7.0M/36=P194k, 5.5M/36=P153k)

+ Per Rentpad, there are flats for RENT at GB-Madison: = ave: 880 psm per mo.

(P38,000pmo/36sqm= 1056psm, P65,000/78 = 833, P30,000/38 = 789, P31,000/49 = 633, P65,000/89 = 730, P45,000/38= 1184, P30,000/38= 935)
1056, 833, 789, 633, 730, 1184, 935 = 6,160/7 = 880psm

1056, 833, 789, 730, 935 ................ = 4,343/5 = 869psm, when you throw out Highest and Lowest offers

YIELD, notional gross: 880 x 12 = 10.56k/ 175k = 6.03% (seems low, so I expect Offer prices, list For Sale are inflated by 10-20%)

ABOUT Greenbelt Madison,

Every day drives you to be more. To do more. And to be on top with the best in the Makati CBD. Enjoy all the priviledge that come with your coveted status. Live in high gear in a lavish executive studio or two bedroom suite.

And in the privacy of your every own play deck, discover first rate amenities erfect for healthy recreation. Outside, seize every opportunity to be what you want to be.
Dictate your own pace in business. Indulge in the most sophisticated creational diversions. And navigate the most important destination with ease.

Be part of a power club that lets you command the city, while enjoying only the utmost luxury. Greenbelt Madison.

Recreational Amenities/Facilities:

  • Retail shop at ground floor
  • Landscaped gardens at roof deck
  • Swimming pool with sunbathing lounge at roof deck
  • Changing rooms shower

greenbelt-madison-typical-floor-plan.jpg

I spoke to a Megaworld Sales agent (Dan Carlos / email: DandeloCarlos@gmail.com / 0956-850740 ). I met him in the lobby, and he told me a bit about the building and showed me the amenities floor, see photo above.

There are still a few properties available in the building, including an Executive studio on the 11th Floor

List Price : P 8.85 Million : / 48.20 = P 183.6k psm
Cash price : P 7.08 Million : (-20%) = P 146.9k psm

Executive Studio / Size: 48.20 sqm

There are some other payment terms available, like 15/5/80% (P8.85M), and 10/10/80% (P8.85M). But it would be be crazy to pay so much, if a buyer has the cash, and can get the unit at P 14--k per sqm. At that lower price, the buyer can get the property in about 1 month and move-in, or start earning some cash flow

The agent said he thought I should be able to rent it at P1,000 psm or more.

At that rental, the Gross return on the P147k psm price would be: 8.16%

If you use a more realistic P850 psm average rent, and add 3% closing expenses and P300k to furnish (7.08M +212k +300k= 7.6 M)

...the Gross rent comes down to: 6.46%

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Focus on Greenbelt Hamilton:

8229285_orig.jpg

__6194808_orig.jpg

Legazpi Street just 1-2 minutes walk from City Gate - not as wide or as busy as it looks in this image

act_20549.jpg

1 BR and the 41sqm Executive Studios (with sliding wall separator) have been very popular ... layouts

(Units for Resale)

Greenbelt Hamilton Executive Studio Sale- ready for turnover | OLX.ph

Mar 13, 2017 - Greenbelt Hamilton Tower 1 Executive Studio (41 square meters) at

... to assume balance of 4.7 million pesos and will shoulder transfer fees.

(OLD ADVERTISEMENT - is now deleted, so i am not sure if the Full price was P 4.7 mn)

_3_.jpg : photos

(in edit. the "cheap" units are now gone - and as of Dec.2017, we were left with much higher asking prices):
Brand New Unit : Never been used
P 8,000,000 / 41 sq. m.= P 195k psm

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KROMA has connectivity, and so will Citygate

... through the position on the Dela Rosa walkway (runs from Citygate to Ayala station)

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One end of the walkway will begin at Citygate

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A great way to Stay Dry, when walking to Greenbelt Mall

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==

Getting from A to B during the Philippine rainy season is no fun.

As a little remedy for pedestrians, Makati City has developed a network of elevated and roofed walkways, connecting the shopping and entertainment area Ayala Center and the Central Business District (CBD).

The elevated walkway alongside Dela Rosa Street goes from the Greenbelt malls to V.A. Rufino Street and is currently being extended towards Salcedo Street, near Makati Med. The overpass leads through the car parks of several office towers and crosses seven streets via iron footbridges. When the rain pours down and traffic comes to a halt on Ayala Avenue, this route is often the last resort for people who have to get from the CBD to Ayala Center and to the MRT and bus terminals at EDSA, or vice versa.

Including the passage through the interconnected malls of Greenbelt, Landmark, Glorietta and SM Makati, you can walk a distance of more than 1,5 kilometers from one end of Central Makati to the other, without being exposed to the rain (or the sun) and without the need of crossing streets. At one point along the way you can even enjoy some art, as the ceiling is covered with grafitti and paintings by different street artists.

In addition to the elevated walkway you find a network of covered sidewalks. However, the roofs are often interrupted, e.g. at intersections, therefore an umbrella is still a necessity. The network of covered walkways connects Gil Puyat Avenue with Salcedo Village, Ayala Triangle, Paseo de Roxas, and Legazpi Village.

> article: http://www.megacities-go-services.com/Manila/Preferred-Areas-HotSpots/Legazpi-Village-Makati/Staying-dry-in-Makati-elevated-and-roofed-walkways

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KROMA 56 sqm 1 bedroom FOR SALE : "Very high floor, facing Salcedo Village"

Price is "a bargain" at P 8 Million + Agent's commission
That's just P8000k / 56 = about P 143k per Sqm.
That's much cheaper than recent Kroma sales (P155k psm or higher)
And cheaper than other new properties in this fast improving Citygate area, especially for High Floor

If interested, please send me a PM*, and I will provide contact details

*/ How to send message: JOIN MakPrime, GEI here, post #2 ("Admiral Byrd") /

This one may not last long

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