Taking condo development to new heights
Fringing an old Binondo neighborhood, Mandarin Square will be home to a wide range of demographics—from the upwardly mobile yuppies to empty nesters—with lifestyle-oriented, intelligently mixed units.
As the condo market heats up across Manila, Anchor Land Holdings, Inc. (ALHI) hones new lifestyle developments customized to specific demographics, continuosly daring themselves to push the envelope.
So why is the condo marketing heated? ALHI vice-chairman Steve Li said there is a major play because of demographic trends. “Empty nesters are coming of age and they are looking for that active, low-maintenance lifestyle,” Li explained. “These down-sizers are selling their big homes and moving back or closer to the city where they can buy a beautiful brand new high-rise condominium and have all the services and amenities at their fingertips. This mass movement is what is driving the condo market right now. In addition to this trend, mortgage rates which are still extraordinarily low have allowed first time buyers to buy at younger ages.”
Li is optimistic that the condo boom trend will continue. With these new lifestyle-engineered buildings, it is becoming a way of living not to just one demographic but to all. People are working more hours and need more services and the condo lifestyle is the answer.
“Condo living is becoming an increasingly popular option for more Filipinos and foreigners. In addition to a relatively affordable, carefree and low-maintenance lifestyle, our condominiums can also offer enhanced security over single-family homes, as well as a wide range of social, entertainment and recreational activities,” Li said.
Recently, Anchor Land oversaw the foundation concrete pouring for Binondo’s latest residential condominium—Mandarin Square on Ongpin Street in Binondo, Manila. ALHI chairman Stephen Lee said, “What we’re seeing here at Mandarin Square is a strong statement of faith in urban living. This is a smart mix of well-designed units fringing an old Binondo neighborhood, in walking distance of downtown. It embraces the city, and that’s why it will succeed. Soon we will begin to see the ground level take shape in the coming weeks.”
Lee revealed Mandarin Square, targeted to be completed by the last quarter of 2009, will offer a commercial area ideal for shops, stalls, and other professional services. Like all ALHI projects, Mandarin Square will include an amenities floor for tenants’ use. Business in the commercial area is expected to be open until late in the evening, a convenience for the estimated 300 families who will occupy the Mandarin Square as well as those living in the community as most business establishments in Binondo close by 7 p.m.
A first of its kind, Mandarin Square offers two loft-style units each with five bedrooms which will have their own garden as well as easy access to the pool, gym and other recreational facilities, almost as if they owned the entire floor. Also, the three penthouse units come with their own sky garden, a landscaped roof deck, which means more space for various activities. Mandarin Square will offer two-, three-, four-, and five-bedroom units ranging from 89 to 225 square meters.
“The projects that we develop are an indication of our commitment to provide Filipinos with quality homes. We continuously strive to be one of the top Filipino real estate development companies by becoming an icon in the development of truly modern high-end residential condominiums focusing on the goal of providing urban living at its finest to the surrounding communities,” Lee concluded
