(This article first appeared on Manila Bulletin, November 12, 2019 issue)
The Philippine real estate industry continues to enjoy steady growth attributed to, among other things, a steady increase in demand in the residential condominium segment.
As the income of the middle to upper middle class grows, their taste has also become more discerning. They are now more concerned about products that are reflective of their lifestyle choices and products that provide convenience and comfort.
Real estate developer, Federal Land, Inc., recognized this shift in Remand. In one of their recent forays, they have chosen to collaborate with a property developer from Japan, Nomura Real Estate Development, Co., Ltd., whose vision for quality, value, and customer satisfaction equals their own.
Founded in 1957 in Tokyo, Nomura Real Estate Development Co., Ltd. is one of the affiliates of the Nomura Group of Companies which has a history of more than 90 years of investment banking experience. One of the more prominent members of this group is Nomura Securities, one of Japan’s largest financial institutions.
The real estate company engages in residential development, corporate real estate brokerage, commercial property development, building leasing, and architectural design businesses across Japan, and recently, in China, Vietnam, and Thailand.
Nomura has not only dedicated itself to going beyond normal design boundaries, but has continuously explored new technologies that better serves the urban landscape of its properties.
Under its quality residential brands, Proud and Ohana, Nomura has gained a reputation for quality in locations they are present in, bringing value to the environments they build.
“As a company, we look for equally strong partners in every project. We consider it an honor to bring the excellence that Nomura Real Estate is known for and to share it with the Philippines. We’re very happy to find a good partner in Federal Land Inc. so we can transform our vision of integrating all that is precious to people and communities, into reality,” said Eij’i Kutsukake, chairman of Nomura Real Estate Development Co., Ltd.
The Seasons Residences is the first project of the partnership between Federal Land, Nomura Real Estate Development Co., Ltd., and retail giant, Isetan Mitsukoshi Holdings, Co. Ltd. It is a four-tower Japanese-inspired residential development which will be home to the first Mitsukoshi Mall in the country.
It is currently under construction at Federal Land’s Grand Central Park in Bonifacio Global City.
This venture promises to offer a harmonious, innovative, and technology-led home that elevates the lifestyles of the growing population of discerning buyers.
“By combining our knowledge and enthusiasm with our high level of technical skills, we can offer the best products and services to the, partnership,” Kutsukake said.
The Seasons Residences benefits from Nomura’s expertise on design efficiency. Among other features, this translates to maximized storage spaces within the units, clean technology (where each unit wiljt have tiles that minimize excess’ humidity, unpleasant odors, and harmful substances in the air), and safety (the use of visco-elastic coupling dampers to reduce wind and earthquake vibrations).
The partnership will also be building the much-anticipated Mitsukoshi Mall at the podium of the residential towers of The Season Residences. This four-story retail development is set to provide a holistic Japanese shopping experience to Filipinos.
MANILA, Philippines — Federal Land Inc., the real estate developer of Ty-led GT Capital Holdings Inc., is on track to open the Philippines’ first Mitsukoshi Mall in 2021.
In a recent interview with The STAR, Federal Land president Pascual Garcia III said development is ongoing and would soon pave the way for the turnover of the retail spaces to the different tenants.
Tenants include Japanese giants in clothing and apparel, beauty and cosmetics as well as other unique retail concepts.
As it is one of the most important central business districts in the country, the Bay Area is bustling with real estate projects: it’s become the well-known site of SM Mall of Asia, the Solaire Resort and Casino; City of Dreams Manila, Okada Manila, and Metro Park. With foreign investors boosting its growth, the Bay Area is set to overtake Makati CBD by 2021.
If you’re looking into owning a condo in the Bay Area but still aren’t convinced that condo living is for you, take a look at the advantages of living in a Bay Area condo:
The Central Business Park
If you work in the Bay Area, then buying a condo for sale near your workplace saves you from a long commute. A shorter commute means more time for yourself and your family, and condo living ensures that convoluted traffic won’t be a problem ever again! Federal Land condominiums, such as Mi Casa, are located within the Central Business Park island of Bay Area.
The Entertainment City
On the western side of Roxas Boulevard lies Entertainment City, the Philippine version of the Las Vegas Strip. Entertainment City boasts four mega-casino resorts with high-stakes tables, a vibrant nightlife, and big-name Broadway plays.
A Foodie’s Paradise
From gourmet food to seaside markets, the bay has a lot to offer to food enthusiasts: there’s Dampa, along the seaside of Macapagal Avenue, where you can buy fresh seafood and have it cooked at nearby restaurants; Sofitel manila offers Spiral, a grand buffet with 21 dining ateliers; a yacht cruise dinner; and a diner with singing cooks and waiters!
Mi Casa is between Macapagal and Roxas, the two most traveled boulevards in Pasay City. These boulevards seamlessly connect Mi Casa to other spots in Metro Manila, including the Makati Central Business District, Manila’s University Belt, Ninoy Aquino International Airport, and the upcoming Sangley Airport.
Convenience and Comfort
New condos like Mi Casa have various retail stores on the ground level of the building. If you want a quick snack or a new haircut, head down to the commercial level to find the shop you need!
Safety and Security
For those who prioritize home safety and security, living in a condo is something to consider. Condominiums have secured entry and exit points, CCTV cameras at all common areas, and 24/7 roaming security guards. Some condos also use key cards instead of keys, restricting elevator access to residential floors and ensure the privacy and safety of the residents and their homes.
Condo living makes amenities like the pool and gym more affordable and more accessible to most city folk. Why break the bank building a backyard pool or indoor gym when you could buy a condo that comes with one?
Newer condominiums in the Bay Area even have other amenities that complement the stunning Manila Bay sunset. Residents can enjoy lounge pools, the wet play area, the kids’ playground, and alfresco dining. Indoor amenities also include a fitness gym and meeting and function rooms.
Condos are also a great investment opportunity – they’re easy to purchase and appreciate rapidly. Should you move to another city, you can resell or rent out your unit.
Real estate agency Colliers International Philippines notes that the Bay Area condominiums are among the most sought after and expensive – even going beyond PHP300,000 per square meter. The demand stems from the influx of Chinese expatriates working in the Philippine Offshore Gaming Operations (POGO) and the city’s rise as Entertainment City.
So, are you ready to pick your condo?
Prime real estate developer Federal Land, Inc. has several condominiums available for pre-selling and ready for occupancy in the Bay Area, Pasay City. Its master-planned integrated community called Metro Park is home to several premier and luxury condominium properties such as the Bay Garden Club and Residences, Palm Beach West, Palm Beach Villas, Six Senses Residences, and its latest development, Mi Casa.
Mi Casa is a vibrant vertical residence reminiscent of Hawaii’s reinvigorating aesthetic of open sea and air. With its sparkling water features, resort-like amenities, and island aesthetics, Mi Casa takes you to experience Hawaii’s reinvigorating sense of open sea and air.
It’s also a stone’s throw away to the world-class casino-resorts, upscale malls, event centers, and the offices of the Bay Area Business District. You need only walk to get to work, the grocery, or fine dining restaurants.
For more updates, check out the Mi Casa Showroom and Information Center at Metro Park, Bay Area, Pasay City or visit the website at www.federalland.ph.
For the second consecutive year, leading real estate developer, Federal Land, receives the Gold Award for Outstanding Developer for the Residential High-Rise Category for Grand Hyatt Manila Residences from Fédération Internationale des Administrateurs de Biens et Conseils lmmobiliers (FIABCI) Property & Real Estate Excellence Awards 2019 on May 9, 2019 at Makati Shangri-La.
FIABCI-Philippines is one of the Chapters under the Asia Pacific Region of FIABCI (Fédération Internationale des Administrateurs de Biens et Conseils lmmobiliers). FIABCI is a Paris-based worldwide federation of 100 national real estate associations and an international business club of real estate professionals in 60 countries spread over four principal regions – the Americas, Asia-Pacific, Africa and Europe, and the Near East.
Mr. Hans Hauri, President of Grand Hyatt Manila Residences & Grand Hyatt Manila, received the award on behalf of Federal Land.
In the same event, FIABCI recognized Federal Land Chairman, Mr. Alfred V. Ty as Diplomate for the Philippine Real Estate Industry, an accolade extended to the leaders of top Philippine real estate developer companies.
Federal Land won in the same category in the FIABCI 2017 Awards for The Grand Midori Makati.
The dream of owning a big house with a large lot in the quiet part of the city has shifted to living in condominiums conveniently close to business centers and main hubs. While the condo life is often associated with independence, convenience, and excitement, many would-be homebuyers are skeptical of condominiums. Chief of their concerns is the myth of the 50-year rule of a condominium building lifespan and stakes in the condominium corporation.
Here we will answer a few important questions to allay concerns.
How long is the lifespan of a condominium building?
“That project has been in existence in excess of 50 years; that it is obsolete and uneconomic, and that condominium owners holding in aggregate more than fifty percent interest in the common areas are opposed to repair or restoration or remodeling or modernizing of the project.”
A careful reading shows that the 50-year rule is not necessarily true to all developments. It is on a case-by-case basis where all three provisions should be met in order to declare a condominium building uninhabitable. That the building is:
over 50 years old;
obsolete and uneconomic; and
the unit owners holding in aggregate more than fifty percent interest do not agree to repair or modernize the building.
Hence, although a condominium building is over 50 years old, it does not automatically become obsolete and uneconomic if it passes the building inspections and certifications. Most of the new condominium projects today are designed and built with modern techniques and durable materials to endure the ordinary wear and tear of everyday use. Modern condos will likely remain in good shape even after 50 years. Moreover, if the majority of the homeowners believe they the building structure is safe, sound, and will only need some modern renovation, demolition would be unnecessary.
On the other hand, if an older condo has monthly maintenance fees, recurring repairs and realty tax that exceeds the monthly rental of a comparable unit in another property, the homeowners can decide and declare that the building is obsolete, uneconomic, and uninhabitable.
Build in the 70s, the Soler Tower, Tytana Plaza and Mandarin Mansion of Federal Land, Inc. are still in good shape and stands near the thriving Chinatown of Binondo, Manila.
What happens when the condominium is declared uninhabitable?
The condominium corporation will convene to make a decision. The unit owners will vote on what they could do with the building and the land. There are usually two options, they can:
sell the land and divide the proceeds among themselves;
strike a deal with the original developer or another to build a new condominium on their land.
What is a condominium corporation?
Similar to a homeowner’s association in subdivisions, a condominium corporation is a legal entity that represents the interests of condominium unit owners in accordance with the Condominium Act. Condo corporation holds the title to the land, common areas and other interests, as such it is responsible for the management and maintenance of the common areas and its other obligations. Members or shareholders of the condo corporation are the unit owners who automatically become members upon purchase of their unit.
Like other corporations, all issues in a condominium are decided through the votes of the shareholders or unit owners. Every decision, be it a simple plan of repainting of the façade or a major agenda of selling the land, must be decided by votes. The rule of the majority, or the option with most votes, wins.
What is your stake in the condominium corporation?
As a condominium unit owner, you are automatically a member of the corporation and co-owner of the condominium, its lands, and other interests. Your stake will be equivalent to the size and price of the unit or units you own.
For instance, you own a three-bedroom unit of 88 square meters in size. Your stake and voting power will be higher than the owner of a studio unit of 25 square meters. If ever the land of the condominium is sold, you will have a bigger portion of the profit.
Is a condominium unit a good investment?
While some may argue that the definite lifespan and ownership of house and lot is a more favorable investment compared to the finite lifespan and ownership of a condominium building, there are other factors that should also be taken into consideration. The major selling point of condominiums is their proximity to important places such as schools, business district, hospitals, malls, and major highways. If you, as a homebuyer, wishes to cut commute time, then a condominium unit near your office will be more beneficial to you than a house and lot in the fringes of Metro Manila. Moreover, a condominium unit is more financially attainable than a house and lot in a central location.
As an investor, buying a condominium to rent out or resell is also a sound investment. Its strategic location will ensure you have a steady market of students, young professionals, and small families. You can make money from start to finish of the building’s lifetime. And even if the condominium is demolished or sold after 50 years, you as a shareholder will profit from the sale of the land.
Buying a condominium for sale may seem trickier than buying a house and lot. However, remember that condominiums are not so different from houses. While units in a condo community are governed by a condo corporation, houses in a subdivision are governed with a homeowner’s association (HOA). Houses are also susceptible to the damages of everyday wear and tear and natural calamities same as condominium buildings.
So if the 50-year rule is the only thing holding you back from living in your dream condominium, then rest assured that your apprehensions have a low chance of becoming real but potential returns have a high chance of becoming true!
With over 47 years of solid experience, Federal Land, Inc. builds properties anchored on the values of trust, reliability, and integrity. In every project, Federal Land ensures to collaborate with the best architects and engineers who can best utilize sophisticated technology and reliable materials to create unique projects that stand the test of time.
San Juan City may be the smallest city in the Philippines, but it is large with real estate investment opportunities. With several exclusive schools like Xavier University, La Salle Greenhills, and Operation Brotherhood (OB) Montessori Center, Inc.; leading hospitals like Cardinal Santos Hospital, The Medical City, and St. Luke’s Medical Center; lifestyle hubs like Greenhills Shopping Center, and Robinsons Galleria; and other notable establishments like Wack Wack Golf and Country Club set in and near the little city, San Juan is quickly becoming a favorite home among affluent families and thriving businessmen. Its proximity to its proximity to central business districts makes it a must-have among the local professionals and expatriates.
If you are thinking of investing in San Juan City, know that there are two types of real estate development in the city: townhouse and condominium.
Here are some pros and cons of buying a townhouse or a condominium to help you determine which property type will work best for you.
Buying a townhouse also buys the land it is built on. It is basically paying for a house and lot.
It is similar to a semi-detached house but within a multi-unit housing complex. Each unit has their own front and backyard, a parking space and multiple stories.
Larger Living space
Based on popular property portal Lamudi Philippines, most townhouses currently for sale in San Juan City are three-story, three-bedroom units. As such, you can easily furnish your living room with a large couch, side tables, and other décor without looking overcrowded.
Complimentary Parking Space
A townhouse unit often comes with a parking space, without additional costs or separate property titles.
Good Investment Potential
Set conveniently close to premier schools, topnotch hospitals, shopping centers, country clubs and business districts, San Juan City is a prime residential district ideal with families. A townhouse in San Juan City can be rented to large families, retirees, and expatriates.
Quick project turnover
Compared to condominium projects and subdivision developments, a townhouse complex can have as few as 2 units to as many as 35. Hence the construction phase is ideally shorter.
As a 1st class highly urbanized city in Metro Manila, San Juan mostly offers upscale properties. On Lamudi Philippines, townhouse properties in San Juan City range from Php 16 million to Php 65 million; while comparable condominium units range from Php 2 million to Php 42 million.
Restricted Exterior Modification
Townhouse communities may restrict you from renovating the exterior of your property like the roof, façade, and driveway to maintain the coherent appearance of the neighborhood.
Shared walls with neighbors
Similar to semi-detached houses, townhouses share common walls and roofs. Hence, it may limit your privacy.
Dover Hill is a luxury townhouse development by San Miguel Properties with lush greenery and carefully planned living spaces, set amidst the commercial and entertainment center of San Juan City. Developer: San Miguel Properties Location: A. Mabini cor. Ortega and Pilar Sts., San Juan City Unit Type: 3BR, 4BR, 5BR Townhouse Floor Area: 202sqm – 355 sqm Price Range (on Zipmatch): 21.5M – 26M
Arellano Townhouse is an exclusive six-unit residential enclave nestled in the neighborhood of Additional Hills. Location: A. Mabini cor. Ortega and Pilar Sts., San Juan City Unit Type: 5BR Townhouse Floor Area: 328sqm – 387 sqm Price Range (on Lamudi): 29M – 33M
A condominium unit in San Juan City costs less than a townhouse in the same prime area. On Lamudi Philippines, the price of a studio unit condo starts at Php 2 million to Php 42 million while townhouse properties in San Juan City range from Php 16 million to Php 65 million.
High Rental Yield
In a recent report released by Colliers Philippines, Metro Manila was said to have one of the most attractive rental yields in the Southeast Asian region with 5.1%. And with sustained demand from affluent families, foreign investors and offshore gaming firms, Colliers expects the rental and secondary market will remain strong.
Set in a highly urbanized city near established central business districts Makati, Ortigas and Bonifacio Global City, condos in San Juan are promising investments. A studio to two-bedroom unit condo can be rented or resold to young professionals, early nesters, retirees, and expatriates; while a three-bedroom unit and above are ideal for large families.
Most condominiums are gated communities with CCTV surveillance cameras and roving guards patrolling the perimeter and its blind spots. You will have peace of mind when on vacation knowing that your home is tightly secured.
Amenities and Features
You have the luxury of enjoying a two-minute walk going to on-site amenities such as the swimming pool, fitness gym, landscaped gardens and more. Condos like One Wilson Square also provide concierge services, centralized mail room, fire detection and alarm system, and commercial space.
Smaller living space is easy to maintain and require less utility. Also, you do not have to worry about mowing the lawn and fixing the roof. If you travel a lot or have a hectic schedule, these could be a big advantage for you.
A Guide Map of Greenhills, San Juan City
Smaller floor size
Though there are large units like three-bedroom units and above, condominiums are generally smaller than townhouses. As such, you have to be creative in maximizing living space for you and your family.
Unless you are in a penthouse, you will share walls with your neighbors. Sounds and smells can sometimes travel through adjoining walls. Try to be cautious, lest you become a cause of a disturbance.
HOA fees and rules
Because of shared ownership to the building structure and amenities, condominiums are run by the homeowners association (HOA). HOA collects a monthly fee for the upkeep of communal areas and to fund future repairs of the building.
Furthermore, some HOA has rules and regulations you need to abide. Some condo communities do not allow pets; some impose strict trash disposal schedule; some have noise restriction policies.
New Condominiums in San Juan City
One Wilson Square
Set in a space that provides easy access to the major thoroughfares and business districts in Metro Manila, One Wilson Square has spacious and exquisitely appointed upscale condos for sale to provide you full access to an enhanced level of luxury.
Developer: Federal Land, Inc.
Location: Ortigas Ave. cor. Wilson St., Greenhills, San Juan City
Unit Type Available: 2BR, 3BR, 4BR Condo
Floor Area: 39sqm – 216 sqm
Average Price (for a two-bedroom unit): 11 M – 14 M
Classification: Ready for Occupancy
Located along one of the prominent addresses in the metro, Chimes Greenhills is a 40-story residential project with a distinctive architectural design that stands out among its neighboring buildings and will pave the way to an affordable affluent lifestyle.
Developer: Robinson Communities
Location: Annapolis Street, Greenhills, San Juan City
Unit Type: Studio, 1BR, 2BR, Condo
Floor Area: 21.7sqm – 48.9 sqm
Buying a home is a huge commitment. In the end, whatever you choose, you should make sure to buy the property that suits your lifestyle and your investment portfolio.
This 2019, top real estate developer, Federal Land, Inc., is slated to launch numerous condominium projects in Metro Manila and Cebu to add to your investment portfolio. Set in key areas of Makati, Bay Area, and Cebu, these condominium projects’ value is projected to surge even further in the coming years, so watch out for the upcoming announcements and launches.
One of the projects you can avail this year is the One Wilson Square in Wilson St., San Juan City. Set in a space that provides easy access to the major thoroughfares and central business districts in Metro Manila, One Wilson Square is an upscale condominium community. It’s a stone’s throw away from the Greenhills Shopping Center and the intersection of EDSA and Ortigas, making a drive to Ortigas and Makati central business districts easy. Its prime location sets it near major commercial establishments, top notch schools, modern hospitals, avant-garde art galleries, an exclusive country club, and affluent communities.
One Wilson Square offers spacious and well-appointed condominium units that provide full access to an enhanced level of luxury. Every inch of a One Wilson Square home has been individually created to maximize the space for residents, with careful attention to detail in every aspect of life – living space with the power to relax, refresh and recover.
To buy or to rent? That is the question.
The debate of buying vs. renting your home is never-ending with both sides full of valid points. One side says buying a home means security and good investment while the other camp says renting is the smarter move in the mobile times. The thing is, different lifestyles have different dwelling needs. There are several factors to consider such as your financial capacity, career trajectory, family considerations and location.
Let’s say a one-bedroom condominium in the distinguished Marquinton Residences is offered for rent at Php 15,000 a month while a one-bedroom condominium in the new Siena Towers is selling at Php 3.4 million with a 20% down payment and Php 24,000 per month amortization for the next 10 years at 9.5% annual interest. Which is the better choice – renting or buying?
Well, there’s no right or wrong answer. The right or wrong choice depends entirely on you, your needs and your plans. You will have to think long and hard when making this decision. To help you, here are some pros and cons of buying and renting.
Moving out is as easy when you have not signed 10 years of your life to a home loan. Don’t like the landlord? Move out. Neighbors are becoming annoying? Move out. Moving to Makati? Move out and look for a new condo in Makati.
However, note that your landlord might refuse to return your security deposit even without any damages or repairs incurred.
No Property Tax
As a tenant, you do not own the property. No property, no property tax.
What are the disadvantages of renting a condo?
Taxes, repair and association dues in the condo complex may be computed into your rent. Should these costs go up, your rent will increase as well. You have no control over rent increases unless otherwise specified in your lease contract.
Tenants have a monthly obligation to their landlords: rent payment. If you cannot pay rent on time because of an emergency, some landlords will understand and give you an extension. Some will not. For some landlords, non-payment of three months’ rent is a basis of eviction.
If you have investment plans in the future, buying a condo is the way to go. Though a condo’s market value appreciates slower than a single-family home, a condo still has better investment potential than a rented apartment. Because as a tenant, you do not own the apartment so you cannot build equity. On the contrary, you are helping your landlord build equity.
What are the advantages of buying a condo?
There is a sense of pride and security in owning a home. You can do with it as you please. You can paint your unit your violet; install constellation patterns in the ceiling; renovate the kitchen, or get an iguana pet. Most of all, no one will evict you for late rent payments. There is no landlord to answer to.
No Payment Hikes
Unlike in renting wherein you have no control of rent increases, buying a condo for sale gives you several payment options. You can pay through cash terms, or apply for a mortgage or home loan.
If you go the home loan route, your mortgage may have fixed or variable rates – depending on the bank policy, the property value and your financial capacity. For your convenience, your bank or developer will provide you a schedule of fees to guide your check releases.
A condominium unit is a long-term investment that will appreciate over time. Eventually, it will pay for itself and if you play your cards right, can make you money.
What are the disadvantages of buying a condo?
Huge Financial Responsibility
Owning a home costs a lot. Unless you have a truckload of cash to pay upfront, you will need to deal with a home loan that can tie you up for 25 years.
Aside from making sure you can afford the monthly amortization, you should also have a budget for the reservation fee, down payment, closing costs, bank fees, title fees, mortgage insurance, and others miscellaneous fees.
Once those are settled, remember the monthly homeowner’s association (HOA) dues and the annual property tax.
Cost of Selling
When you are ready to put your unit on the market, you might already picture the money going into your bank account. Reality check, selling a unit costs money too. First, you will need a real estate agent, which costs up to 7% percent of your unit price in commission. Then, you will need to merchandise your unit either through an open house or web listing, in which you will need to touch up the unit and fix the minor and major repairs. Lastly, there is the closing cost. Closing costs are expenses over and above the property price including capital gains taxes, business tax, and notary fees.
The least of a renter’s concern is the maintenance and repair of the unit. Condo owners, on the other hand, is responsible for all the repair and maintenance of the interior of their condo. You will have to buy and change that busted light bulb and call your plumber for that clogged toilet.
Buying or renting a condo is always a big financial decision. Your choice would depend on your priorities, plans, and finances. In the end, it is best to pick what suits your current needs and will make the most logical choice in five years. Federal Land, Inc. has several pre-selling and ready for occupancy condominium properties in Marikina City – the renowned Marquinton Residences; the Spanish-inspired Tropical Garden City; and the new urban playground Siena Towers – that will accommodate your various lifestyles, needs, and aspirations.
From the developer of the distinguished Marquinton Residences comes a radiant prime development at the heart of Marikina city – Siena Towers. A modern take on the Italian town of Siena, where rural charm and modern progress abound, Siena Towers goes beyond being a home by providing outstanding lifestyle choices just outside your doorstep.
Siena Towers is a two-tower condominium project offering a beautiful and secure preselling homes in a vibrant community with its own shopping mall a few steps away. Residents of Siena Towers will enjoy outstanding amenities; quaint homegrown retail selections; proximity to major weekend destinations; I.T. business parks; premier schools like the Marikina Science High School, Ateneo de Manila University, Miriam College, Center for Culinary Arts, and the University of the Philippines, Diliman; and spectacular views of the Sierra Madre in the East and the Metro Manila skyline in the Southwest.
At Siena Towers, live in an exciting lifestyle playground you can truly call your own.
Though San Juan City is the smallest in Metro Manila, it certainly has big things to offer. The city is home to shopping centers, entertainment hubs, topnotch schools, premier hospitals, exclusive clubs, and food crawls. It also a prime real estate with easy access to Makati, Ortigas and Bonifacio Global City central business districts. Its upscale status complemented with a proud history makes it an idyllic place to live, work and play.
So from golf courses to shopping centers to music theaters, here are the 10 things you should not miss when in Greenhills, San Juan City.
1. Shop Till You Drop at Greenhills Shopping Center
Known as a “tiangge” haven, Greenhills Shopping Center is one of the go-to places of bargain hunters looking for great finds at affordable prices. With over 2,000 stores within its malls and tiangge section, Greenhills Shopping Center has dedicated sections for clothing, furniture, décor, grocery, entertainment, and pearls – a definite something for anybody.
For branded items and other commercial needs, there are several malls within and near San Juan City such as the Promenade Mall, Robinsons Galleria, SM Megamall, and Shangri-La Plaza.
Did you know?
Retail giants Plains & Prints, Celine (CLN), Bayo, Kamiseta, Bench, Folded & Hung, Toby’s, Odyssey, Astro Vision, and Ricky Reyes started as small shops at Greenhills Shopping Center.
Greenhills Shopping Center is a world-famous pearl hub, where both local and international celebrities, fashion designers, dignitaries, and pearl collectors come to buy pearls. Famous people who visited the Greenhills pearl market include Rihanna in 2013 and Queen Sofia of Spain in 2012.
Address: Ortigas Ave, San Juan City
Mall Hours: 10 AM – 9 PM Sunday to Thursday; 10 AM – 10 PM Friday to Saturday
2. Get your Health Checked at Cardinal Santos Medical Center
Founded by the Maryknoll Sisters before the World War II as the St. Paul’s Hospital of Manila, Cardinal Santos Medical Center is one of the Philippines’ leading hospitals specializing in the fields of cardiology, neurosurgery, oncology, and rehabilitation medicine. It is also known for its expertise in pediatrics, obstetrics, and gynecology, pulmonary medicine, nephrology, urology, and minimally invasive surgery.
In recent news, Cardinal Santos Medical Center was awarded the DOH Star Awards 2018 Top 10(Level 3 category) by the Department of Health during the 69th Philippine Hospital Association’s Annual National Convention.
Address: 10 Wilson St. Greenhills West, San Juan City
Telephone: +632 727 0001
A favorite of young and season executives, Wack Wack Golf and Country Club (WWGCC) is one of the country’s most exclusive and elite golf and country clubs. WWGCC is mainly known for the two 18-hole professional golf courses: the East and the West courses. The East course, with its rolling greens, water hazards, and tricky Par-3, Hole No. 8, is known to be the tougher course. It is host to prestigious events such as the Asian Circuit, and Philippine Golf Open Championship. The West course, on the other hand, is more of an everyday course enjoyed by the club members, and their guests.
William James Shaw founded WWGCC in 1930 after Larry Montes, a caddie who won the Philippine Open Tournament in 1929 at Manila Golf and Country Club, was asked to leave the tournament celebration. WWGCC open door policy welcomed all golfers without discrimination.
Address: Old Wack Wack Rd, Mandaluyong City
Telephone: (02) 723 8558
Office Hours: 8 AM – 5 PM Monday to Sunday
A shrine to Saint Joseph, husband of Mary, Santuario de San Jose in East Greenhills is dedicated to lead its parishioners and their families to piety, like St. Joseph led the Holy Family. Santuario de San Jose is the home parish of the Holy Family Chapel in Greenhills Shopping Center, and the Immaculate Conception Chapel, and the Sacred Heart of Jesus Chapel in West Crame.
With its simple elegance and exclusive location, Santuario de San Jose is also a popular location for weddings. The interior is a mix of red, gold and wooden accents with stained glass windows giving a cozy and classy ambiance. While its location within exclusive subdivision means the ceremony is solemn and undisturbed.
Address: Duke corner Buffalo Sts., East Greenhills, Mandaluyong
Telephone: (02) 7252044
5. Relive history at Club Filipino
Within the upscale city of towering condominiums, posh subdivisions, vast shopping centers, and exclusive golf club of Greenhills stands an actual piece of history. Founded in 1989, Club Filipino is the first exclusive social club in the country. It is established as an elite gentlemen’s club, with the Ilustrados and Filipino politicians as its first members. Throughout the years, the club hosted several significant political events that shaped the country, most notably the first celebration of Rizal Day in 1898 and the presidential inauguration of Corazon Aquino in 1986 People Power Revolution.
Today, Club Filipino holds balls, parties, and conferences to its members. Its present amenities include swimming pool, tennis, badminton, and squash courts, bowling alleys, outdoor restaurant, salon, and “Kalayaan Hall,” an indoor events/reception room.
Address: Club Filipino Avenue cor. Eisenhower Street, Greenhills Subdivision, San Juan City
Telephone: (02) 722 2001
More than a shopping mecca, San Juan City is also a hotbed of creativity and arts. The Music Museum is a cultural metropolis that hosts all things music, theater, and entertainment of all genres. Established by Kuh Ledesma in 1988 to give the local audiences a taste of New York and Las Vegas, the Music Museum is a combined theater-restaurant where guests could eat and drink during performances. The Music Museum has been the stage for countless Filipino talents and houses several showbiz memorabilia such as Nora Aunor’s “Tawag ng Tanghalan” trophy, Apo Hiking Society’s first entertainment contract, and Lisa Macuja’s first ballet shoes.
Did you know?
The Music Museum has expanded to add dining, shopping, and entertainment hub complex now known as the Music Museum Group. It includes Shoppesville Plus, Theater Mall, Promenade Mall, and Teatrino, the biggest little theater in the city.
Address: Service Rd, Greenhills, San Juan City
Telephone: 721 0635 / 721 6726
Hours: 10 AM – 6 PM Monday to Sunday
Ronac Art Center, a brainchild of Bigboy Cheng, is Metro Manila’s newest hub for contemporary art and retail. It houses some of the hippest boutiques in town like toy store Secret Fresh; German shoe retailer Unschld; one-stop skate shop We Legendary, Asian streetwear Terminal, concept store Progress; plus, a slew of diners, burger joints, coffee shops, and a yogurt bar. It also features gallery spaces, events halls, and a basketball court.
The Ronac is also known for its interesting façade, which is inspired by a mattress. The large gray block with uneven windows is the foam, while the spiral staircase is the spring – an incredible representation of the family’s other business, Uratex.
Did you know?
The façade’s uneven windows are actually the short and long dashes of Morse code of the Daft Punk song: “Work it harder, make it better, do it faster, makes us stronger.”
Address: 424 Ortigas Ave., San Juan City
Telephone: (02) 570 9815
Hours: 10 AM – 8 PM Monday to Sunday
This futuristic fun for the whole family and friends is a modern take on the backyard staple game of tag. Lazer Maxx in Greenhills involves high tech laser guns, glowing vests, inflatable obstacles, bad villains, and “The Incredibles” theme song to provide an epic superhero experience.
Address: Greenhills Shopping Center, Ortigas Ave, San Juan City
Telephone: 584 5958
Hours: 12 NN – 9 PM Monday to Friday; 10 AM – 10 PM Saturday to Sunday
A home in Greenhills, San Juan means your children are within arm’s reach of some of the best schools in the country. For instance, a residential condo in One Wilson Square puts you and your family right in the middle of several exclusive schools: OB Montessori Center, six-minute drive; La Salle Green Hills, seven-minute drive; Immaculate Conception Academy, eight-minute drive; and Xavier School, nine-minute drive. For higher learning, San Juan is home of the Asian Institute of Journalism and Communication, five-minute drive; Polytechnic University of the Philippines – San Juan Campus, six-minute drive; St. Augustine School of Nursing, seven-minute drive; and St. Pedro Poveda College, 10-minute drive.
And since San Juan City is in the middle of Metro Manila, going to top schools in other cities can be convenient. Going to Reedley International School in Pasig City is only an 18-minute drive; International School Manila in Bonifacio Global City, Taguig is only a 25-minute drive; Ateneo de Manila University in Quezon City is only a 17-minute drive; and University of the Philippines-Diliman Campus in Quezon City is only a 25-minute drive.
Craving for authentic Cantonese cuisine? Gather your family and friends for fine dining at the Gloria Maris Sharks Fin Restaurant in Greenhills. With the finest ingredients, Hong Kong chefs, and courteous staff, Gloria Maris will take the fine dining experience to a whole new level. The Gloria Maris in Greenhills caters to a variety of palates: the Hot Pot, a casual Hotpot dinner; the Dimsum Kitchen, a popular weekend breakfast hangout; the Main Dining accommodates fine dining lunch and dinner; the VIP Rooms reserved for intimate gatherings; and the Banquet Hall to celebrate weddings and other special occasions.
Address: Greenhills Shopping Center, Ortigas Ave, San Juan City
Telephone: (02) 570 0921
Hours: 11 AM – 2:30 PM; 6 PM – 10 PM Monday to Sunday
Want to be in the middle of these hotspots? Federal Land, Inc.’s One Wilson Square has ready for occupancy condominium units for sale and for rent. Located within the upscale Greenhills, San Juan City, and just a stone’s throw away to Ortigas and EDSA intersection, One Wilson Square provides your family convenient access to central business districts, and spacious and exquisitely appointed homes of comfort and luxury – created with careful attention to every aspect of life.
Before 2018 ended, global real estate services organization, Colliers International Philippines released a report entitled, “Top 10 forecast for 2019: Flexibility is the name of the game.”
In the report, Colliers explained how the strong demand and evolving preference of tenants is giving rise to flexible workspaces; residential developers are tweaking their projects to cater to Chinese offshore gaming employees and local professionals; and mall operators are more open to foreign food and beverage (F&B) and home furnishing tenants, which will redefine retail space absorption in 2019. Colliers also said it sees developers cashing in on the thriving property market by aggressively acquiring parcels of land outside of the more established business districts.
Here are the 10 things that will define the Philippine property sector in 2019, according to Colliers.
1. Infrastructure-led government spending to spur property
Colliers said it sees the government’s Build, Build Build program around Metro Manila and other parts of the country will dictate the strategies of the real estate developers. Hence, it expects to see more office and residential developments outside Metro Manila.
“Colliers believes that property firms will be more aggressive in acquiring parcels of land in Northern and Southern Luzon and ensure that they are strategically positioned, especially in Pampanga, Bulacan, Cavite, Laguna, and Batangas. Developers’ expansion should be supported by the completion of rail, expressway, and toll road projects between 2020 and 2022 that are planned to pass through these provinces,” it said.
2. Metro Manila office vacancy to remain at sub-6 percent
Colliers said it expects Manila office vacancy to reach around 5% by the end of 2018.
“We see strong demand being carried over to 2019, with projected demand moving in step with the new supply. Over the next 12 months, Colliers sees the delivery of nearly 1.0 million sq metres (10.8 million sq ft) of new office space and net take-up of about 910,000 sq metres(9.8 million sqft). This should yield a vacancy of 5.3% by end-2019. About 30% of office space due to be delivered in 2019 is pre-leased.,” it said.
Colliers said it foresees a strong contribution from the knowledge process outsourcing (KPO) sector, which provides higher-value outsourcing services like health information management, software engineering, and finance and accounting, over the next 12 months. The demand is believed to be due to the presence of top technology firms such as Google in Manila and the improvement of Manila’s ranking in the latest Tholons’ global outsourcing survey, which ranks the most competitive outsourcing destinations in the world.
3. Offshore gaming to expand outside Manila
For 2019, Colliers sees offshore gaming firms to continue to expand and look for office buildings with large floorplates. But with a recorded 4.8% vacancy across Metro Manila as of the third quarter of 2018, Colliers encourage new and expanding offshore gaming companies to continue looking for space in Cebu, Pampanga and Laguna where bulk of large space is still available.
“Aside from expansive office space and residential availability, offshore gaming companies need to operate in cities that have airports offering direct flights to China or areas that have direct access to and from Manila. This is one of the reasons why these firms are starting to look at a number of cities in Southern Luzon,” it added.
Colliers sees offshore gaming firms occupying 200,000 sqm to 300,000 sqm of office space, representing as much as 23 percent of the projected take-up in 2019.
4. Flexible workspaces spaces to grow by 10% annually
Flexible workspace describes a workspace that provides flexibility over location, terms and additional services. With the emergence of mobile workforce and evolving preferences of tenants, flexible workspaces are gaining ground in the Metro Manila office market.
“We see Manila’s flexible workspace stock expanding by at least 10% per annum over the next three years owing to the continued rise of micro, small, and medium enterprises (MSMEs); the influx of multinational corporations (MNCs) and outsourcing firms looking for plug-and-play offices; and the implementation of a set of policy reforms likely to improve the business climate.,” Colliers forecasted.
“Over the next three years, we expect more flexible workspaces to be offered in malls, hotels, residential towers and dormitories for professionals,” it added.
5. Manila Bay Area to dominate Metro Manila condo price and supply
For 2019, Colliers believes the pre-selling condominium prices in the Bay Area will remain among the most expensive and projected to breach the PHP300,000 (USD5,700) per sqm.
“Colliers believes that the Bay Area is an attractive location for wealthy families from Southern Luzon and cities in Metro Manila that are upgrading to condominium living. The Bay Area is likely to remain an attractive location due to its proximity to Manila International Airport and ease of access to other business hubs across the country’s capital,” it said.
6. Luxury residential market to remain strong, price to breach Php400K per sqm
Colliers said it expects the luxury condominium demand to remain strong as Metro Manila continues to have one of the most attractive rental yields in the Southeast Asian region with 5.1%, relatively low prices, and sustained demand from affluent Filipinos, foreign investors, and offshore gaming firms.
“The luxury market in the country’s capital is relatively small but demand has been stable over the past few years. The projects being leased out or sold to the secondary market continue to receive strong demand,” it said.
Federal Land, Inc. is partnering with SM Prime to build an ultra-luxury condominium project on the last parcel of land in the upscale Apartment Ridge in Makati CBD. Colliers believes that the project may breach the PHP400,000 (USD7,400) per sqm price point.
7. F&B to further dominate retail absorption
Colliers believes the food and beverage (F&B) sector will remain the major driver of retail space absorption in Metro Manila over the next 12 months.
“We believe that the continued inflow of remittances from OFWs and rising disposable incomes, coupled with a generally stable macroeconomic backdrop, are luring more foreign F&B brands to establish a foothold in the Philippines. A number of foreign F&B brands such as Popeye’s, Panda Express, and Shake Shack are reportedly opening branches in Manila over the next 12 months, and we see this contributing to greater retail space absorption across the country’s capital,” Colliers said.
8. More foreign players in home furnishing and luxury retail in the Bay
Colliers sees sustained demand for home furnishing retail as the popularity of condo living increases. Nearly 60% of projects launched in third quarter of 2018 are studio and one-bedroom units. Hence, we encourage foreign retailers to focus on the furnishing requirements of the more compact condominium units.
Though the home furnishing segment is currently dominated by local players, Colliers believes this will become a more interesting segment once foreign players become more aggressive in opening shop in Metro Manila.
“Colliers believes that the Bay Area is ripe for more high-end F&B, footwear and clothing brands. Prada, Givenchy and Salvatore Ferragamo have opened shops in Solaire casino. The area continues to attract high-end retailers and we see more luxury brands opening shop in the reclaimed business district over the next 12 months,” it said. “The completion of new malls in the Bay Area such as Aseana mall is an opportunity for operators to house luxury retailers. The entry of more high end brands should differentiate the Bay Area’s retail offerings from the retailer profile of other business hubs including Makati CBD, Fort Bonifacio, and Ortigas Center.”
9. More strategic land banking and township development in Quezon City
Colliers said it sees Quezon City benefiting from the planned Mega Manila Subway – a 25-kilometer underground mass transportation system connecting major business districts and government centers – as seven of the 13 stations will be set within the city. With improving connectivity given the construction of the Mega Manila Subway, Metro Rail Transit-7 (MRT7) and the common LRT-MRT station, Colliers sees Quezon City becoming more attractive for mixed-use projects that feature office, residential, and retail projects.
“With renewed interest in Quezon City, we see the proliferation of more integrated communities similar to Ayala Land’s and Eton Properties’ existing estates. In 2019, Colliers recommends and expects more aggressive and strategic land banking by developers around the first three stations in Quezon City,” it said.
Over the next 12 months, Colliers expects property firms to take a more aggressive approach in exploring parcels of developable land especially in the Mandaue and Mactan areas that will benefit from the completion of major infrastructure projects such as the expanded Mactan-Cebu International Airport; the Cebu Cordova Expressway Link; Cebu Bus Rapid Transit (BRT); and the Cebu-Negros bridge.
Colliers believes that the completion of these projects should spur demand for more hotels and serviced apartments outside the Metro Cebu corridor. The areas of Mandaue and Mactan are also seen as highly viable for resort-oriented townships.
“We also suggest that developers build more residential projects that are leisure and lifestyle-oriented in anticipation of the increased interest brought about by the infrastructure improvements,” it said. “In 2019, Colliers expects the completion of 700 new rooms, raising Cebu’s hotel stock to 11,300 rooms from 10,600 rooms in 2017.”
How Can It Help Your Investment
The various government infrastructure projects, expanding offshore gaming industry, and the growing KPO and BPO presence are positively affecting the real estate industry of the country. Metro Manila and key areas in Luzon, Visayas and Mindanao are in a unique turning point and as an investor, you can seize the opportunity by:
Investing in condominiums within the peripherals of universities. This can be set up as a worker dormitory that caters to young urban professionals who want to live near their offices. OFWs are also investing on these for their children in time for their entry to college education.
Investing in properties outside the Metro Manila, such as Cebu, Pampanga and Laguna where expanding offshore gaming companies are encouraged to avail space.
Investing in premier condominium projects to lease out or sell to secondary market.
Investing in condominium projects in main business hubs for leasing out to work executives, including foreign expatriates.
Investing in condominium projects for a secondary home and at the same time a maturing investment for future income.
This 2019, top real estate developer Federal Land, Inc. is slated to launched numerous condominium projects in Metro Manila and Cebu to add to your investment portfolio. Set in key areas of Makati, Bay Area, and Cebu, these condominium projects’ value is projected to surge even further in the coming years, so watch out for the upcoming announcements and launches.
In compliance with Bayanihan to Recover as One Act, qualified clients are entitled to a one-time 60-day grace period for payment due dates between September 15 to December 31, 2020 with accrued interest.
The one-time grace period will start from the due date and 60 days thereafter. No penalty charges for late payment shall be imposed for the said period.
Qualified clients who wish to avail of the payment reprieve may contact Customer Service 10 days before the due dates of each amortization
at email@example.com with subject line [avail60_unit number_project] or call 8886-0000/0917-8271893, Mon-Fri, 8AM-5PM.
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Enjoy culinary dishes from Grand Hyatt Manila in the safety and comfort of your home!
A variation of delectable cuisines and confections are made available through their online ordering system. To order, visit bit.ly/DineAtHomeGHM.
Summer is almost here, and with it comes the desire to make everything in your condominium bright and airy. The sun is shining, flowers are blooming, but if the insides of your unit feel gloomy, crack open your windows and deep clean your condo.
Federal Land, Inc. is a member of GT Capital Holdings and a proud partner of the Metrobank Group. It began in Manila as Federal Homes, Inc. in 1972 but has since grown into Federal Land, Inc., a prime real estate developer in the Philippines.
For over forty-five years, Federal Land has been creating properties built on the values of trust, reliability, and integrity. It is the developer of many large-scale developments: residential condominiums, office buildings, retail and commercial centers, mixed-use townships and masterplanned communities.
To be working for a company for years is a good indication of fruition of goals. To stay more for years makes one look forward to achieving growth and success with the help of new and seasoned employees.
Tenure: Over 6 years
Federal Land instilled in me values that made me a more resilient person despite the challenges I face as an HR practitioner.
Rina Rose Quiñones
Tenure: Over 2 years
One of the main factors that make employees stay long here at Federal Land is its good working environment.
Tenure: Over 5 years
I love what I do in my job and the people I work with.
Tenure: Over 9 years
The learnings and experiences that we have acquired here at Federal Land make us who we are today.
TENURE - Over 6 years
Rina Rose Quiñones
TENURE - Over 2 years
TENURE - Over 5 years
TENURE - Over 9 years
Efren Gonzales III
Senior Property Specialist - Affiliates Division
Working for Federal Land has been a learning ground for me since it was my first ever sales-related job experience. I improved so much on communicating and socializing with my clients through the years. I can confidently say that Federal Land played a significant role in my life since I was able to suffice not only my wants but also my family’s need.
Jennilyn Joy Abuleche
Senior Property Specialist - Stars Division
Selling at Federal Land is a great opportunity that helped me build a strong, stable and fulfilling career. Federal Land helped me achieve a better standing in life, making me capable and competitive.
Sales Manager - Metals Division
Federal Land has changed me a lot, professionally, socially and financially. I have never dreamed of being a real estate sales person. I just heard and read success stories before. But now I can proudly say that I am part of the success story, through hard work and perseverance.
federal land inc.
20th Floor GT Tower International 6813 Ayala Avenue. corner H.V. Dela Costa Street., 1227 Makati City, Philippines.
The Leasing Department: (632) 8883-6725 or (632) 8883-6728 Head Office: (632) 8883 6888
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