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Specializing in mid-rise condo

By Charles E. Buban
Philippine Daily Inquirer
First Posted 01:35:00 09/26/2009

Filed Under: Lifestyle & Leisure, Lifestyle (House & Home)

MANILA, Philippines--Why live in a mid-rise condo? There could be a lot of reasons but for a developer specializing in medium-rise projects in Pasig City, convenience could be the most important factor to consider.

?A homebuyer looks for something that closely approximate living in a detached unit: privacy, convenience in going in or out of the unit and ample floor space. I believe we have provided these on our finished and ongoing projects,? said Peter Ty of PTR Properties Inc.

His firm has been successful in Pasig City, particularly in Kapitolyo, having completed and sold two projects that include Grand 21 Place condominium, a five-story development with just 35 residential units.

The second is the Fifth at Rafael condominium, a seven-story building with 66 residential units with multipurpose hall and spacious garden deck.

Sold out

?Grand 21 sold out in just four months after completion, while Fifth at Rafael, just a few months before the building was finished,? Ty revealed.

Because of the success of these two projects, he is now finishing his third and latest endeavor, a 10-story project offering 114 residential units.

Called One Capitol condominium, Ty informed the project?s expected completion is in April 2010.

Next in line is TwoSeven Residences, also located within Kapitolyo in Pasig. It will be a 10-story building with 114 residential units. It offers an infinity wading pool surrounded by a garden with units featuring an alcove seating in all windows.

?Like the rest of our projects, the One Capitol and TwoSeven Residences are located on the quiet side of Kapitolyo, which is also home of the city?s well-heeled families,? Ty described.

Limited space

Since lot space is becoming very limited within Metro Manila, the next best option for homebuyers is to live in condominiums.

?Living in multistory buildings is becoming a norm here. For people living within Metro Manila, they could enjoy proximity to their place of work as well as shopping and entertainment destination,? he said.

According to Ty, the location of his completed projects including One Capitol is parallel to Shaw Boulevard, which offers a convenient access if one is working in the Ortigas and Makati business districts and even to The Fort in Taguig.

He added that PTR?s development projects are geared toward single young professionals and newlyweds since most units average 30 square meters.

Ty said living in mid-rise condo is a good compromise to a high-rise unit.

Exclusivity

?While the living setup here may be the same as in a high-rise building, the lower number of residents gives you the exclusivity that you need,? he explained.

What they did is to put few units per floor, which results in less crowding and noise along hallways as well as shorter waiting time in the elevator.

?We did our best to simulate as close as possible, living in a house and lot. Much more they could have their units within two years or much shorter, which may not be possible in a lot of high-rise projects,? he said.

Ty said that rather than having to continue to pay rent for three additional years on top of their monthly dues, homebuyers now have an option to pay quickly in any of the current projects of PTR Properties.

?I think all our future projects will be in the mid-rise segment. For me, it is still the best option when looking for your own home here in Metro Manila.? Ty added.



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