What are the lifestyle, design and amenities trends in the luxury segment of the Philippine real estate industry, especially in upscale residential condominiums?
An example of these is one of Southeast Asia’s most exciting new projects, The Estate Makati luxury condominium. This is the much-awaited property joint venture uniting the country’s biggest developers: SM Development Corp. (SMDC) of the Henry Sy family behind SM Group/BDO Unibank, and Federal Land, Inc. of the George Ty family/Metrobank Group.
Described as the crown jewel of Philippine luxury real estate with unparalleled amenities, it is rising on prime land bought decades ago by the Philippines’ top visionary business leaders, the late SM Group founder Henry Sy, Sr. and the late Metrobank Group founder George S.K. Ty. Representing their two families in the joint venture are the founders’ sons, Henry Sy, Jr. and Alfred Ty, backed by topnotch corporate executives, as well as world-class designers and builders.
SM Development Corp. president Jose Mari “Jomari” H. Banzon recently granted an exclusive interview at the new The Estate Makati two-bedroom unit showroom on the third floor of SM Aura Premier’s Convention Center Hall 3 in BGC, Taguig City. Here are excerpts from the interview:
THE PHILIPPINE STAR: Apart from the prestigious addresses and being great homes, are Philippine luxury residential condominiums still good investment options, considering the high prices of recent years?
JOSE MARI H. BANZON: The top luxury condominiums in the Philippines, ranging in prices from P600,000 to P650,000 per square meter, they are very good investment options. These prices are still bargains compared to the luxury condominiums of our neighbors, like P1.2 million per square meter in Thailand; Singapore is even more expensive at five-times-higher prices and Hong Kong is 18 times higher in prices.
How many units are there in The Estate Makati? What are the smallest and what are the biggest units?
There will be 188 two-bedroom or three-bedroom units at The Estate Makati. The smallest unit will have 151 square meters, while the biggest units will be three-story penthouse units, each with 225 square meters and occupying the top three floors. There will only be four penthouse units — all have their own private pool. The four biggest super-penthouse units are three levels each with a private swimming pool and ranging in size from 610 to 759 square meters in floor area.
What are the reasons The Estate Makati has been described as unique, even among luxury condominiums?
Among the reasons why The Estate Makati is unique and outstanding as the finest luxury condominium include, first, its great location as the only remaining undeveloped property in the prestigious area of Apartment Ridge Road and Ayala Avenue in Makati; second, The Estate Makati is the first Philippine development of multi-award-winning British design firm Foster + Partners, the same architectural firm that designed the HSBC Tower in Hong Kong and the Hong Kong International Airport. The Estate Makati being a Foster + Partners development means it was designed and built with sustainability at its core.
(Writer’s note: Other company executives added that the architects have also applied passive design techniques that make use of The Estate Makati’s unique location, and optimizes them for energy conservation, such as a self-cleaning facade, specially angled windows to maximize the natural light and views of Makati, and even charging stations for electric vehicles.)
Third, it is near Makati shopping malls and department stores.
Fourth, the project will use the finest construction materials; the best finishes and brands will be used in completing and equipping the living spaces. It will be the first residential development in the country to feature double-slab technology, which gives future homeowners true flexibility in terms of the layout of their units by providing the choice to change it up as they see fit.
Among the luxury brands used in The Estate Makati include Gaggenau. The prestigious kitchen-appliance brand has been a pioneer in innovation and design since it was founded in Germany more than three centuries ago; Bulthaup is an award-winning luxury home brand founded in 1949 by Martin Bulthaup, it has been creating expertly designed kitchen systems for more than 70 years; Miele, the German company, was founded in 1899 by Carl Miele and Reinhard Zinkann and throughout its 122-year history, has continued to develop a wide range of appliances and machines, from dishwashers, to motorcycles, and even centrifuges; Elba, which Elio Baggio founded in 1950 in the village of Marostica in the Vicenza province in Italy. Elba started as an enamel plant that later branched out to producing household appliances; SieMatic, founded in Germany by August Siekmann in 1929. SieMatic has always been committed to designing kitchens that evoke timeless elegance and highlight the different personalities of those who use them; Hülsta, a famous German furniture brand that was founded in 1940 in the humble carpenter workshop of Alois Hüls in Stadtlohn, Germany, North Rhine-Westphalia. Now run and owned by the third generation, it is a global brand.
Fifth, there will only be four units per floor. Through the cruciform, four-sided shape of the building, each unit essentially becomes the only one on each floor, giving residents the utmost privacy and exclusivity.
Taking the hotel-like luxury lifestyle to the next level - Condo Makati
Residents of The Estate Makati will enjoy luxury, hotel-like services similar to international serviced residences or apartments taken to the next level. Well-trained staff fulfill daily tasks such as receiving residents’ food and mail-parcel deliveries, and can accommodate requests that include housekeeping, catering, and laundry needs.
Exceeding even top hotel facilities, The Estate Makati’s flooring, including the living areas, main kitchen, powder room, and master and junior bathrooms in the entire unit will use natural stone, while high-quality engineered wood will be laid out for all the bedrooms. Each unit’s bathrooms will boast premium fixtures that will add sophistication to the space.
Another feature at the center of every home in The Estate Makati will be a dazzling main kitchen that will feature state-of-the-art appliances and cabinetry. Even the service kitchen will be equipped with equipment by topnotch luxury brands.
Among the unique amenities of this condominium include a wine cellar where residents can store wine bottles and entertain invited guests; a modern and fully equipped fitness gym; a sky garden to relax; a business center, swimming pool, function rooms, and first-class medical services provided by Lifeline.
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To learn more about this iconic, ultra-luxury development, visit www.federallandph.info/theestatemakati