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Real Estate News Roundup (August 6 to 20, 2018)
Browse property news from all over Metro Manila.
By: Eunice Sheene Fulgencio | August 06, 2018
The Mile Long property building has had an interesting ownership history since the early 2000s.
Image: L.A.Poco Architects
DMCI adds to the Metro Manila real estate scene as it embarks on its first Japanese garden-inspired condominium designed to become a getaway in one of the metro’s busiest districts. In other property news, the government partners up with the private sector to give a property its former glory, while condo developers are urged to become creative as residential unit vacancy rates rise.
Project Announcements
DMCI develops first Japanese garden-inspired condo
DMCI Homes is set to develop Kai Garden Residences, its first-ever Japanese garden-inspired property in M. Vicente Street, Mandaluyong City, one of the prime real estate areas in the metro [1].
Kai Garden Residences will have three towers in all: Sugi, Icho, and Hinoki. Property units are priced from PhP3, 320,000 with floor areas ranging from 28 to 81.5 square meters. Targeted building completion is set for January 2023 for Sugi, January 2024 for Icho, and between June 2024 and January 2025 for Hinoki depending on the floor level.
The entire estate will be designed with landscape-like qualities and wide open spaces, and Japanese garden’s principle of miniaturization will also be applied. According to DMCI Homes’ senior architect Fe Moselina, “Kai Garden Residences can be likened to an urban oasis. The moment you enter the development, it already eases off the stresses of what transpired during the day.”
Resort-inspired amenities can also be expected for the Kai Gardens with a picnic area, swimming pool complex, bar and game area, and an outdoor fitness area being some of them.
Gov’t to refurbish Mile Long Property
The government, through the collective efforts with the private sector, will redevelop the 2.9-hectare Mile Long property located in Makati City into a mix-used development [2].
This is far cry from the government’s initial plans in 2017 to sell the property. According to Department of Finance (DOF) Secretary Carlos Dominguez, both the DOF and the Privatization and Management Office (PMO) retracted their initial decision and decided to restore the building instead.
“It is large enough to have three elements—commercial, office, and residential,” Dominguez was quoted saying.
Dominguez also added that Filipino architect Felino Palafox has already drafted a conceptual design for the property.
About Eunice Sheene Fulgencio
Eunice knew that she’d be writing for the rest of her life from a very young age. Naturally introverted, she is selective with how she uses her time and who she spends it with. Has a penchant for sweet treats, sentimental proses, and online personality quizzes. A true-blue INFJ.
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