Real Estate News Roundup (May 14 to 20, 2019)

Within the Makati Central Business District is SMDC’s carefully designed Red Residences, which is anticipated to be completed in 2022 [1]. Located on Chino Roces Avenue, this 29-story high building with a skyline view is walking distance to Makati City Square, Waltermart, and Makati Medical Center. It offers features and amenities perfect for vigorous to easygoing settlers, such as a gym area, a swimming pool, a jogging path, a green wall, landscape areas, a function room, and lounge areas. Residents will also feel safe with the 24-hour security and intercom systems. There are three well-designed unit types with balconies to choose from: one-bedroom unit, one-bedroom unit with den, and two-bedroom unit.

One of the upcoming residential projects of Megaworld is South Beach Place, a Miami neighborhood-inspired condominium designed to have the aerial shape of a seashell [2]. The 20-story building is located in Westside City in Parañaque City. It will have 582 captivating units with either a balcony or lanai area to deliver a magnificent view of Manila Bay and the Metro Manila skyline. Unit types offered are studio rooms with floor areas that range from 32 square meters to 41.5 square meters and one-bedroom units with floor areas ranging from 46.5 square meters to 61.5 square meters. South Beach also features first-class outdoor and indoor amenities such as an adult and children’s pool, massage and pool lounge, sun deck lounge, seating deck, gym area, function rooms, and five sky gardens.

Also to be located in Westside City are the two towers of Sunny Coast Residential Resort, which offers 1,309 residential units with balconies. Located along the seafront with unclogged views of Manila Bay, its amenities include an outdoor seating area, meditation deck, lounge deck, children’s playground, fitness playground, children’s pool and infinity pool. Along with South Beach Place, the two lush residential developments will be completed in 2024.

Structural Engineer Ronaldo Ison said that not all buildings in Metro Manila follow the National Building Code. According to a study in 2011, 35% of low-rise residential buildings and 25% of mid-rise buildings in Metro Manila did not observe construction codes and principles [3].

Compliance with the national standards was tested during the earthquake last April 22, in which 18 were reported dead and 282 were injured in Chuzon Supermaket in Pampanga [4]. The local government unit indicated that the supermarket met the needed qualifications. However, Ison stated that the building may not have followed the code.

“The earthquake is felt by all of the structures around the vicinity and then you suddenly find this single building collapsing. So there’s a big question why this building collapsed despite that (sic) there are other buildings close to it that did not collapse,” Ison added.

According to the University of the Philippines Nationwide Operational Assessment of Hazards Director Mahal Lagmay, if the epicenter of the quake is nearer, a shorter building will shake. If the epicenter is farther away, it would shake more. On the other hand, Ison claimed that the two building types could resist the quake if both followed the building code. Ison also emphasized that as compliance with the National Building Code, buildings should be regularly checked.

For more real estate updates, head to Yoorekka.