Property firms developing ‘student-friendly’ condos
MORE REAL estate companies are developing residential condominiums near educational institutions, as they see growing demand for quality housing for students.
DMCI Homes, Inc. will be launching a P2.8-billion condominium near the St. Scholastica’s College in Malate, Manila in the second half of this year.
“May bago kaming format.
Karamihan kasi ng ginagawa namin designed for the family,
ngayon ito designed for students (We have a new format. Most of what we do are designed for the family, but now this is designed for students),” DMCI Homes Chairman Isidro A. Consunji said during an Aug. 13 briefing.
DMCI Homes President Alfredo R. Austria said the new project will be launched within two to three months.
“This is a dormitory designed for family and students... Para siyang condominium na i-bebenta sa property buyers pero ang features niya ay sa dormitory (It’s like a condominium that we sell to property buyers but the features are like that of a dormitory). We’re developing at a lower price point,” he said during the same briefing.
Mr. Austria said the Malate condominium will stand 30 storeys tall with unit sizes starting at 24 square meters each and prices starting at P3 million.
The new project is part of the P40 billion worth of projects DMCI Homes targets to launch this year.
The Consunji-led property company also plans to unveil a 40-storey building in Matina, Davao City within the second half. The residential condominium will be a joint venture partnership with the developer of New City Commercial Corp. (NCCC) Mall.
Meanwhile, the property unit of GT Capital Holdings, Inc. also launched the first tower of Quantum Residences along Taft Avenue, Manila this month.
Federal Land, Inc.’s new project is located near several schools such as the De La Salle University, De La Salle College of Saint Benilde, St. Scholastica’s College, Philippine Women’s University, and Arellano University.
“The dormitory is for sale. It’s used as a dormitory, but it’s actually units for sale that’s designed for students. That will mostly be studio types,” GT Capital President Carmelo Maria Luza Bautista told reporters after a media briefing in Makati last Aug. 13.
Mr. Bautista said the company will launch another tower for Quantum Residences during the second half of the year, noting that 35% of units in the first tower were sold within a month after its launch.
Quantum Residences will consist of three towers with 35 floors each standing on a single podium. The first five floors are the podium levels, while the remaining 30 floors will house the residential units. The entire project stands on a 5,960-sq.m. property.
Unit sizes range from 21.5 sq.m. for studio units, 30.5 sq.m. for a one-bedroom unit with balcony, and 49 sq.m. for a twobedroom unit.
Amenities in the Quantum Residences include a hobby room, fitness gym, conference room, study lounge, function room, and game room. —