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RISE Makati.com - Update and Marketplace

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RISE / More Price assessments

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THE POOL that some of our readers will one day swim in!

"As of December 1, 2017, the price per square meter of a 1 bedroom unit (28.01 sqm.) of The Rise Makati is around 204,000~213,000

(depending on the unit's floor level)."

28.01
x P204k = P 5.714M
x P213k = P 5.966M

======

SSC-#1541

Yeah. Must be developer prices, not secondary market

> http://www.skyscrapercity.com/showthread.php?t=1723515&page=78

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A GLIMPSE of the Future

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/ 2 /

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It is getting easier to imagine what this area will look like in 2-3 years time

On SSC, someone asks:

"Has the developer created a model apartment yet?"

 

Amazing they they managed to virtually sellout, without a show flat

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INSIDE The Rise

========

These are all taken from the 6th Floor North Residential Tower.
K3hEoSs.jpg?1
T&B
4Z8qycY.jpg?1
Unit H
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Unit H
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Unit H
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Unit G

==

> source

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RISE:

"As of today, Dec 8, construction is at 56th floor"

==

> ssc

 

( Of 59 storeys? - If so, only 3 floors to go!)

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Rumored at Rise: A Rise in the transfer Cost

Rumors are rife on social media that Shang intends to increase the cost of Contract transfer from P50K to P200k or P250k.

I will be looking into this.  Not sure how Shang could increase a cost that was written into their Sales Contracts, so perhaps this is only for new contracts, or for 2nd and 3rd resales

(On SSC there are questions about whether or not The Rise is worth the P200K+ psm price that it is presently selling for - To me, it depends on the price of competing properties, which are also going put -- Fast! in many cases):

Originally Posted by m--- View Post
You could get the "affordable price" if you bought your unit at preselling in 2014. But the current price is over 204k-213k sqm which is expensive having in mind that the building is still over 2 year away from being turned over.

Another (X--) responded:

I did buy at the pre-selling price.
I 't buy at the current price.
If you are buying now at an expensive price, consider your other options like DMCI. But if you still decide to park your money here, well then you chose it with open eyes so no need to complain.
For those who did not do due diligence and just got on the bandwagon because of the Shangri-la brand, well... you are getting what you paid for. Caveat emptor.

> SSC

I am not sure about DMCI.  Some people like their products,

but others complain about the "hidden" high miscellaneous costs,

and/or the ongoing quality of property management (it may be different in different buildings)

 

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Rental Estimates

(Some posters on SSC are speculating on what the units might rent for):

" I am willing to rent (OUT) my 74 sqm unit core 2br for around 60k.
But a 28 sqm apartment there would have a 25 to 30k per month range. But I will defer to people who have units in the area. I suggest you look at OLX for the current market price for the columns or Lerato..."

(I have been thinking that those who paid P 3million or less may be happy

with P 25,000 /mo x 12 = P300k / P3 milion = 10% gross yield.)

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AIR has Topped out !

image.png

Photo taken from inside Coffee Bean on 12/20/2017

Remember the pitch? ( source )

" Soaring 59-storeys high above the Makati City skyline, Air Residences is the first SMDC Premier project. An upgraded brand of condo living, modern contemporary with Armani Hotel inspired lobby and world class amenities. "

RESALE Prices, per DotProperty, which offers THIS summary for Air:

Type / Size    : Average price---------------------------- : Per Sqm
1 BR / 26 m2 : For sale: ₱ 4,035,000 (27 units) : P 155.2 K Mean
++ no units for rent (yet)

Median list price per square meter in Air Residences is: ₱ 160,510 per sqm,

which is 0.8% higher than the Makati median of ₱ 159,263 per square meter, and 81.3% higher than the Metro Manila median of ₱ 88,539 per square meter.

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RISE & AIR secondary prices
====
Month: RISE- (No.): Type-Size : PerSq. / AIR R (No.): Type-Size : PerSq. / R/Aratio
12/17: 4,600k (06) 1BR-28sm: 164.3k / 4,035k (27) 1BR-26sm: 155.2k / 1.058
=====
> Dotpr.Rise: https://www.dotproperty.com.ph/condo/8004/the-rise-makati-by-shangrila
> Dotpr.AirR: https://www.dotproperty.com.ph/condo/345/air-residences

RISE & AIR Developer prices

====
Month: RISE- (No.)  Type-Size : PerSq.  / AIR R (No.) Type-Size : PerSq. / R/Aratio
12/17: 5,500k (sm*) 1BR-26.5 : 207.5k / 5,220k (sm) 1BR- 26.4 : 197.7k / 1.054
*smallest, cheapest 1 BR units
=====
> Rise: http://www.therisemakatishang.com/the-rise-pricelist
> AirR: http://www.phsmdcairresidences.com/

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RISE Pages & Groups on Facebook
## : FB Page Name ------ : #Likes : Follows: rtg. : Latest Post
====
The Rise Makati ----------  :  5,121 :  5,113 : 0.0- ? : stale: Aug.21, 2015
The Rise Makati Shang  :  6,093 :  6,084 : 4.6-O : stale posts
The RISE Makati-ArjayV :  0,584 :  0,600 : 0.0- ? : stale: Jan.20, 2015
TRMSP01 / Rise Makati :  0,000 :  0,000 : 5.0-O : Dec.17, 2017 & photos

Rise Owners&Inv GroupM'bers # 144 : 0.0-C : Closed Group; Must Request
====

Links:

FB#1 : https://www.facebook.com/pg/The-Rise-Makati-559877617473211/posts/?ref=page_internal

#2 : https://www.facebook.com/therisemakatishang/
#3 : https://www.facebook.com/search/top/?q=the rise makati arjay v
#4 : https://www.facebook.com/pg/TRMSP01/posts/?ref=page_internal

#5 : https://www.facebook.com/groups/304698319874028/?ref=br_rs

(following is from FB#1 - posts were mostly stale advertisements):

Stay in shape while pursuing your career is the definition of a healthy urban living at The Rise’s two-storey gym. Click here to know more about the amenities The Rise has to offer: http://bit.ly/1BLgVYc

Image may contain: living room, table and indoor

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CONTACTS at Shangri La & Shang Properties -

greg-dogan_-ceo-shangri-la.jpg

Greg Dogan, President CEO, Shangri La Hotels
head of shang phillipines & GM : Greg.dogan@shangproperties.com

32a59a0.jpg : Linked-in profile
Sales Director, Mr Robert Cruz   : robert.cruz@shangproperties.com

getimage.aspx?regionKey=r16atP5WHNgDfvSV
Group Photo, 15 May 2015:
Poch Abola, Sales Ops.Mgr., Milen Treichler, Mkting.Mgr., Xandra Rocha, Community Crawl Host,
Mike Arroyo, Training head, and Robert Cruz, The Rise Makati sales director
Operations Mgr, Pochola Abola  : pocholo.abola@therisemakati.com

AaGVeIYiKr09hg==&scale=100
Photo at Shang's 25th Listing year ceremony, 21 Jun 2016:
PSE-chmn.Jose Pardo, PSE-CEO Hans Sicat, Shang Properties Senior Mgrs: Miguel Feuerman (Dir., Property Mgmt.), Pam Perez (Dir.,Mkting, hotels), Rose Santos (HR & admin.), Milen Treichler (Marketing Director) and Susan Yu (Sales Director)

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Robert Cruz spoke about The Rise, back in July 2014

NoMa now rising

Shang Properties’ The Rise takes advantage of the thriving area belatedly known as ‘North of Makati’
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Barangay San Antonio and its adjacent neighborhoods in Makati are becoming the nexus of a renaissance. In the past few years, interesting and affordable restaurants and bars have made the place an alternative dining destination. More offices, production houses and commercial spaces have put up shop, a reflection of the thriving economy.

And with the entry of young professionals, entrepreneurs, creative people and young families into the area, developers have seen the place’s potential and put up residential condominiums.

The once-drab middle-class neighborhood is undergoing a gentrification. Expecting a more pulsing energy in the next couple of years, Shang Properties has coined this thriving area as NoMa, the abbreviated version of northern Makati. The term takes after the neighborhoods in New York, such as SoHo (South of Houston Industrial Areas), that were regenerated from industrial places into trendy districts and were given truncated names.

t0702enriquez-shangcondo_feat2_3-300x225

THE 73-sqm condo is given depth. Walls and louvers hide the air-con.

Although known for its luxury developments, Shang Properties’ new residential project, The Rise, is targeting a younger middle-class market. To be erected on a one-hectare property between Malugay and Yakal Streets, The Rise appeals because of its location.

“As in all projects, location is key. What makes this beneficial for the client is that everything around it is developed,” said Robert Cruz, Shang Properties director of sales.

“We are flanked by Sen. Gil Puyat and Ayala Avenues. There are restaurants, banks, gas stations, the police station, the fire station and a supermarket close by. We are a few minutes away from the hospital.”

Propeller-shaped

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STUDIO for the man is decorated like a New York loft with an industrial feel.

The 63-story, 2,822-unit residential development is shaped like a three-bladed propeller. Majority (1,796 units) are studios and one-bedroom affairs. Prices range from P2.3 million to P2.5 million for a 25-square-meter studio, to P7.3 million to P8.4 million for a 73-sq-m two-bedroom unit. Studios and one-bedroom units are sold VAT-free.

With the base price per square meter of P93,000 to P97,000, The Rise targets 30-50-year-old professionals.

“We checked out the competition,” explained Reyes. “Around us fetched P100,000 to P110,000 per square meter. We wanted to be client-friendly. The idea is to create an environment for people who want to acquire their first condo unit.

Read more: http://lifestyle.inquirer.net/164780/noma-now-rising/#ixzz529YDbX9J
Whatever happened to NoMa & North Makati?
They seem to be just called Makati now, or maybe City Gate area

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Shang Properties - the stock is at a "pinchpoint"

PH:SHNG ... all-data : 5-yrs : 2-yrs : 6-mos : 10d / Last: P3.13

cmRXXmu.gif

Looks poised for breakout above about P3.25, to P4.00, or higher

OR:

A fall below support just over P3.00 to possible support near P2.50-2.70.

We should know in the next few weeks which way the break is.

The dividend is a healthy 4.47% (Php 14?), and with an "earnings yield" of xx.xx% (that's the inverse of the 4.73 PE), it should be sustainable if earnings remain stable.

=====

Top Shareholders
34.6% : Travel Aim Investment BV : 1,648.9M shs
30.8% : Ideal Sites and Properties : 1,465.1M
21.3% : PCD Nominee Corp. -------- : 1,011.6M
04.0% : SM Development Corp. --- : 0,189.6M
===
90.7%  : Top 4 shareholders :
Shs OS: 4.76 Bn at 9/30/2017 x P3.13 = P14.9Bn / 50 = US$298 Million
/ Projects / --------- : St.: Units :
Enterprise Center : Two Towers : P 1.092bn rental income in 2016
Shang Grand Twr :
St Francis Shang. :
One Shangrila Pl.  : 64 : 1,242 sold out of?
Shang Salcedo Pl : 67 : 0,749 :
The Rise Makati-- : 59 : 3,044 :
HorizonHm@Fort : Lux.    98 :
======

Year : Revs. : E.P.S: Divs : %Erns /shs.OS/ LTD.OS: ShEqty: NW/sh.: YrEnd: %-NW
2008 :
2009 : 4.030B:
2010 : 2.798B: 0.---
2011 : 3.589B: 0.222: 0.???: 00.0% /4.?? B/ 9.743B:
2012r: 5.406B: 0.346: 0.082: 23.7% /4.76 B/ 9.474B: 20.22B: P4.252: 3.040: 71.5%
2013 : 6.908B: 0.422: 0.110: 26.0% /4.76 B/ 10.24B: 21.73B: P4.564: 3.270: 71.6%
2014 : 7.612B: 0.574: 0.130: 22.6% /4.764B/ 20.70B: 23.8?B: P5.002: 3.300: 66.0%
2015 : 8.283B: 0.598: 0.155: 25.9% /4.764B/ 19.60B: 25.93B: P5.446: 3.130: 57.5%
2016 : 11.27B: 0.610: 0.165: 27.0% /4.764B/ 19.47B: 27.92B: P5.862: 3.250: 55.4%

9/17 > 10.51B: 0.640: 0.16?:  ????? /4.764B/ 20.??B:  29.5 B: P6.185: 3.130: 50.6%
Year-- : Revs. : E.P.S: Divs : %Erns /shs.OS/ LTD.OS: ShEqty: NW/sh.: YrEnd: %-NW
======

Shang website: http://www.shangproperties.com/

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RISE & its pedestrian connections

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The Rise will soon top out - at 59 floors, but from this angle does not look much taller than its two neighbors.  In reality the finished building will be over 2X higher:

+ Skyland Plaza: 25 floors,   95 meters
+ Rise Makati - :  59 floors, 210 meters
+ AXA Life Ctr- : 25 floors,   95 meters

The two pedestrian walkways are finished now

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Christmas decorations near walkway-1 over Gil Puyat near Ayala Columns

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The walkway-2 over Gil Puyat near AXA Tower, looks towards City Gate, and the Teleperformance Building that will be replaced.

 

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An Air investor is reminding people: Selling Price > Market Price

" I won't read too much into Air's current 220k/sqm list price"

I agree. Selling Price is not the same as Market Price. Market price is the lowest price you could get for a similar unit in the same area. I am sure there are willing sellers far below 220k/sqm.

So why raise the list price to PHP 220k/sqm?

1) Developer has already sold majority of units. Even if they do not sell any remaining units, they have already made a profit on the project.

2) The artificial price increase makes all existing buyers happy! They feel good about their investment and tell their friends about it. Agents also happily update their buyers with: "Good News! Your unit has increased in value!" Reality, however, is that if you tried to sell your unit today, you would not be able to do so at 220k/sqm.

3) When developer launches a new project, it uses the inflated price as a benchmark. It will sell below this price to make you think it is a good deal. Very similar to traditional retail pricing strategy.

Key takeaway: An increase in price is not necessarily an increase in value. Early buyers of Air have made good gains, but not as much as the current selling price would suggest.

> source

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High floor 1BR units available at The Rise.

Direct from the Seller

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1) High floor (50's) East Wing 28.01 sq mtrs. 1 bedroom. Marina Bay View.

2) High Floor (50's) East Wing . 27.17 sq mtrs 1 bedroom. Manila Bay View. Price 4.5m negotiable

3) High floor (50's) East wing 28.01 sq mtrs 1 bedroom. Manila Bay View. Price is 4.5M
=
Prices contemplate a quick sale, if not, the seller may need to add on (higher) transfer cost.

(Also have a High Floor West Wing unit Seller, at a higher price)

If you are interested. please end me a Personal Message, and I will give you the contact info for the seller. Direct Buyers only.
TO JOIN This website, it is free

- but you may need to know the phrase "Admiral Byrd" (not actually an animal)
==> REGISTER : HERE, see Post#2 (it is Free)

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RENTAL Estimate

A poster on SSC is trying to estimate rents at The Rise, based on what he is seeing at Shang Salcedo:

" Most fully furnished 35 sqm Shang studios are asking 40k monthly rental. Takeup rate is not that great, because One Central has 1BR (>40sqm) going for 35k-40k and Studio (33-35sqm) at 30k. Two Central rental units are also very competitively priced.
This will force the price down to settle at about 30 to 35k. Which is reasonable I think. "

- That is near Php 1,000 psm

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WATCH PROGRESS in the Area near Rise on your laptop, or on your phone

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Rise & Air are becoming real landmarks, to use for Navigation

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Rise here from San Antonio area, here next to One Antonio & TechZone

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San Antonio Residence is Megaworld's new project, rising next to TechZone (to the right).  Behind it, across Gil Puyat is 100 West, a nicely-designed new project from FilInvest.  This photo was taken from XX Yakul St. (?)

TechZone has many call centers & software companies servicing online casinos in China, and so there are many Mandarin speakers and some "chinese flavor" to the neighborhood, which will likely be reflected in future restaurant openings (I hope, since I expect to live within an easy walk.)

san-antonio-residence-thumb.jpg

San Antonio Residences from Megaworld. This is from the "other side", from Gil Puyat, and so TechZone is on the left of SAR.

100%20West%20Makati_mix-D%202.jpg

100 West is unusual since it has 8 floors of BPO's and so some of the tenants for the flats above will come from the same building.

100-West-vicinity-map.jpg

Area Map - I added Yakul St, and the location for The Rise

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The Rise in this photo has a green & golden glow from the time of day

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If the Air Gap (2nd - Primary) was like the Jazz Gap ...

From SSC:

" Listed prices are just that, listed prices.....
Jazz Residences remaining inventory are also listed at ~220k/sqm. But if you know the correct channel to approach and can pay in cash, it is available for ~150k/sqm. "

Jazz : 150k - 220k sqm : - x%

Air R : ??? k - 220k sqm : - x% Gap would be also P 150k per sqm

An SSC post blames the high prices on Mainland China buyers:

" "Cultural differences" probably play a big part too. The Chinese love to speculate and invest in property. To them, even Ayala's minimum 10% downpayment is peanuts as the downpayment for property in China is usually much higher than 10%. So the zero downpayment schemes by SM Megaworld and others really attracts them.

As a result, zero down preselling projects in Makati and BGC appreciate by 50% over the last one year. While projects with higher downpayment like Alveo's Solstice and Callisto, while popular, appreciate slower. For second hand completed condo, there is maybe only 10% price increase. So we have a situation where a new RFO 30 sqm studio in Lerato is 4.5m while a preselling 27 sqm Air is 6m, and Lerato is probably in a slightly better location.

Even if they got "trapped" into the high preselling prices eventually, it is ok for them. First, they are used to 1%-2% rental return in China so Manila's >5% rental return is attractive. Second, they believe property appreciates over the long term and as long as they have the money, they are willing to hold onto property.

Full cash and zero downpayment attracts different types of buyers. One Chinese company did a bulk purchase of units in Megaworld's One/Two/Three Central and I believe they got in at around 140-150k/sqm after the discount (prices then were 200k/sqm) while preselling inventory are now well above 200k/sqm because the bulk purchase further reduces inventory! "

Apparently, these eager buyers do not look much at the secondary market

 

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Thinking Ahead...

rise-nbolpjubpp0mx1qlms42w9k7ewfvehixqlb

THE RISE Makati, as planned. But the neighborhood is s bit more crowded than shown above

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