8990 Holdings to sell P1.15B worth of housing units at Urban Deca Towers

By: Doris C. Dumlao - 10 years ago

MANILA, Philippines—Housing developer 8990 Holdings Inc. plans to sell P1.15 billion worth of residential units at Urban Deca Towers in Mandaluyong, the first and only low-cost high-rise condominium project in Metro Manila that offers units priced at less than P1 million.

The 42-storey Urban Deca Towers, located at 69 Sierra Madre St. Brgy Highway Hills in Mandaluyong, offers 1,148 units priced between P990,000 up to P1.25 million.

The project, which is undertaken by subsidiary Foghorn Inc., is the first high-rise condominium project of 8990.

SCREENGRAB from www.8990housing.com

“Urban Deca-Tower Edsa is not meant to be a primary residence, but rather targets a growing niche market of urban dwellers who are currently renting,” Januario Jesus Atencio, president and chief executive officer of 8990 Holdings said in a press statement. “This will afford them the opportunity to convert already existing budget into a monthly amortization,” he added.

Atencio also said: “Sales have been encouraging with at least 250 letters of intent that signifies a growing need for this type of housing in the metropolis.”

The residential units have a footprint of 13.06 square meters each in line with the “micro-living” concept. The project promotes the “half-way” house concept, targeting workers and students who are looking for decent, clean, safe, secure, and flood-free place to stay near their place of work or school.

The low-priced condo units are pitched as an affordable half-way house for people who live as far as Laguna, Cavite and Bulacan. Having their own condominium units is seen providing a viable housing alternative to long commutes, traffic jams and renting dormitories and bed space.

Apart from being located near the bus and jeepney terminals, 8990 said the project would also give buyers an alternative mode of transportation, being accessible to the 17-kilometer Metro Rail Transit line 3 (MRT3) along EDSA. Furthermore, it is located near shopping malls including the Shangri-La Mall, Edsa Central, Star Mall and is a few minutes away from the central business districts in Ortigas and Makati.

The high-rise tower will have 41 residential floors, a ground floor, and four basement levels, 147 parking slots, a convenience store, a Laundromat, a food hall, lounge area as well as commercial spaces. The building will be equipped with a 24-hour CCTV and security and four high-speed elevators.

Each unit is telephone- and cable-ready and comes fully furnished with airconditioning, microwave oven, basic cabinets, mattress, curtains and a small dining table.