Megaworld unveils luxury Makati condo, P4.2B sales eyed

MANILA, Philippines – Tycoon Andrew Tan-led Megaworld Corp. has unveiled its tallest and most luxurious condominium property project to date – the 51-story Three Central property in Salcedo Village, Makati which brings about P4.2 billion worth of new inventory to the robust local residential property market.

The new residential project offers 650 units priced for at least P114,000 per square meter and prior to the grand launch of the project Thursday night, about 40 percent had been sold on the back of “very high demand” from local and international buyers for residence in a prime location, Megaworld head of sales and marketing for Makati central business district Eugene Lozano told reporters.

The penthouse units are among the first ones to be sold, Lozano said. There were originally 16 penthouse units but buyers opted to combine the units such that there were only five owners left.  These penthouse units have a separate elevator keycard.

The goal is to sell 80 percent of the available units within this year, added Maricor Manlangit, Megaworld first vice president for strategic planning group.

Megaworld has broken ground for the project and the target is to turn over residential units to buyers by June 2015.

Three Central, which is inspired by the world-famous International Finance Center building tower of Hong Kong, will also be home to the first and only upscale two-story podium mall in Salcedo Village.

This retail cluster, which will house some of the world’s renowned brands as well as top food outlets and restaurants, is targeted to open in two years’ time.

“This will be the first condo development within Salcedo Village that has a mall downstairs as most of the stores are on Legaspi side,” said Harold Geronimo, Megaworld director for strategic marketing and communications.

Units are available in executive studio (41 square meters), one bedroom (46 sqm), two bedroom (80 sqm) and three bedrooms (120-130 sqm). The cheapest unit is priced at about P4.6 million for an executive studio while the three-bedroom units are priced at about P19 to P19 million. Buyers are given the option to combine units.