Two New Real Estate Projects in The Philippines

  • 16 years ago
  • Uncategorized
Philippine property developer Rockwell recently announced two new development projects that will be launched this year in the Metro Manilla area. According to Philippines’ Business World newspaper, officials from Rockwell will begin work later this year on a one-hectare center in Makati City and a 5.5-hectare residential development in Pasig City.
 
The Grove, the new residential project, will be constructed on the former site of General Milling Corp., along the C5 road in Pasig City. The Grove is planned to target mid-range property buyers, making it an excellent target for buy to rent investors as well as prospective residents. There will be five high rise towers for condominiums, according to Ninalyn Cordero, Rockwell’s Land Assistant Vice President for Business Development.
 
“It is going to be our major project,” said Ms. Cordero. “The quicker we can do it the better. We will start construction early next year but we will launch it this year.” She added that development will take five to seven years, and Rockwell may expand it as it moves along.
 
The other Rockwell project is The Lopez Center, the final phase of construction for the Rockwell Center in Makati City. This tower will house the headquarters for the Lopez Companies, one of which is Rockwell. According to Rockwell’s Vice President for Project Development Bong Filart, the Lopez Center will be the tallest building in the Philippines, with at least 50 floors.
 
Both Makati City and Pasig City are located in the metropolitan Manilla area. Makati City is the major business center of Manilla and is located at the heart of the metro area. To the east is Pasig City, a residential and industrial center that is becoming more developed with projects like The Grove.
 
Manilla is served by the Ninoy Aquino International Airport (MNL) as the major destination for international travelers. It is approximately 7 kilometers southwest of downtown Manilla and is one of the busiest airports in Asia with over 21 million passengers.
 

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