Robinsons Land to go on another US road show for McKinley Park
An article published in
BusinessWorld, February 09, 2006
By: Jennee Grace U. Rubrico, Senior Reporter
Following
the success of a road show for Fifth Avenue Place, Robinsons Land Corp. will
again go abroad to market another Fort Bonifacio project -- McKinley Park
Residences.
From this month to May, officials of the Gokongwei-owned group will offer
the project around the United States ; the property has been in the market
since June 2005.
McKinley Park Residences is near St. Luke's Medical Center and has one-,
two- and three-bedroom loft units. The project offers 320 units worth from
P2 million and above.
Considered the fastest project of the company's high-rise buildings
division, the 43-storey, all glass McKinley Park broke the company's record.
It was launched less than eight weeks from the time the company bought the
1,600-square meter parcel of land from Ayala Land, Inc., besting the
three-month preparation for Fifth Avenue Place that is on a 4,209-square
meter property also in Fort Bonifacio .
"Fort Bonifacio is one of the fastest selling places. Fifth Avenue is
already sold out, and we're doing well in McKinley Park Residences. This
will be sold out in a year," Danilo E. Ignacio, Robinsons Land high-rise
division general manager, said in an interview with BusinessWorld .
He said the take-up in the project was "good" but he did not disclose
figures.
The road show will start on February 25 and cover 12 points in Hawaii ,
California , Texas , New Jersey and Illinois . It will end on May 15, an
itinerary of the planned road show stated.
Mr. Ignacio said that besides McKinley Park Residences, the company will
also offer other options during the road show.
Other residential projects that the company is now marketing include
Adriatico Residences in Manila , East of Galleria in Ortigas, Gateway Garden
Heights along Pioneer St. in Mandaluyong City and a few units of One Gateway
Place also along Pioneer.
Mr. Ignacio said local demand for units in McKinley Park Residences is also
strong.
"The [middle income market] we cater to is a very lucrative market," he
said.
McKinley Park Residences' one-bedroom units measure between 37.98 and 40.95
square meters.
The two-bedroom units range from 66.58 to 70.12 square meters, while the
three-bedroom units cover 97.91 square meters.
It also has a wide outdoor open space and landscaped garden. The amenities
include lap and swimming pools, jogging path, a fitness center and function
room.
The first three levels will be converted into commercial areas. The project
will be offered in 2009.
Robinsons
Land, a major real-estate company, is involved in the development and
operation of shopping malls, hotels, residential condominiums, and land and
residential housing developments.
Its high-rise residential projects are in prime areas in Metro Manila.
Incorporated on June 4, 1980 , it serves as the real-estate arm of Gokongwei-controlled
JG Summit Holdings, Inc., a major conglomerate with interests in branded
consumer foods, agro-industrial and commodity food products, textile,
telecommunications, petro-chemicals, air transportation and financial
services.
Both Robinsons Land and its mother company are listed at the Philippine
Stock Exchange.
The US market, which comprises Filipino migrants, is a traditional sales
generator for property developers.
Industry observers noted that property developers tap migrant Filipinos who
have been living in the United States since the 1970s and have earned enough
to buy real-estate properties that cost between $50,000 and $60,000.
Besides Robinsons Land, other property developers that either conduct
regular road shows abroad or have international offices are Rockwell Land
Corp., Ayala Land, Inc., Megaworld Corp. and DMCI Homes, Inc.