A new gem rises in Sta. Rosa | Inquirer Business

A new gem rises in Sta. Rosa

/ 02:22 AM December 24, 2016

Alvarez_KIARA

The demand for housing in the Philippines has always outstripped supply, with developers over the years having filled the gap only in the upper reaches of the sector, which was deemed to be more profitable.

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But with the country still needing about 5.5 million housing units to finally clear decades-old backlog, many developers are now turning to the middle and lower end of the market.

Recently, PA Alvarez unveiled its latest real estate development in Barangay Sinalhan in Sta. Rosa City, Laguna, called the St. Joseph Richfield Phase 2, which is just one of the many projects of this Laguna-based company. It targets the middle-income market.

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Occupying a total land area of 12.31 hectares, St Joseph Richfield Phase 2 will be offering 681 units, prices of which range between P2.352 million and P3.356 million.

For this project, the firm offers the Ayami model, a two-storey single attached home with 52.25 sqm floor area on an 80 sqm lot; and the Kiara model, a two-storey single detached home with a 63 sqm floor area on a 100 sqm lot.

Address the need

“For a developer to succeed in the market, it has to address the needs of the middle- as well as the lower-income markets. We realized that the strongest market is in the middle-income homebuyers. Going through the profiles, we saw that a good number of our homebuyers were young people who were determined to make their investment debut in real estate,” said Romarico Alvarez, chair of PA Properties.

Alvarez explained that Laguna’s proximity to Metro Manila, which is about 30 kilometers, has drawn not only tourists but also business investors, spurring the local economy.

“With 18 industrial estates, Laguna is home to major vehicle manufacturers, electronic and semiconductor companies. As a result, more and more families here are able to improve their standard of living. The first thing that they would always consider is to buy their own home,” Alvarez explained.

“Home ownership is a big investment and a lifestyle change—so for these homebuyers it is crucial to make sure they are financially prepared. I believe St. Joseph Richfield Phase 2 price range, its location and the amenities offered, fit their requirements,” Alvarez said .

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Executive-like

St. Joseph Richfield Phase 2 was designed to be executive-like with guarded entrance, bigger sized and elegant-looking units, and clubhouse ready to serve its future homeowners’ needs.

“All the structures inside St. Joseph Richfield Phase 2 feature clean lines with a minimalist approach—characteristics for modern buildings. We want to provide future residents the opportunity to enjoy a tranquil counterpoint in the midst of the hustle and bustle of city life,” said Alvarez.

But because the development is strategically located, Alvarez said schools, cultural scene, sporting grounds and shopping destinations are located within walking distance if not a short ride away.

“Indeed, this is a rare opportunity to purchase in this impressively elegant yet affordable community. St. Joseph Richfield Phase 2 is a fitting address for these fortunate homebuyers.”

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