ROBINSONS Land Corp. (RLC) is developing a luxury mixed-use project within the Ortigas Center and expects to sell over half of the residential units cumulatively worth P6 billion next year amid a growing affluence in the country.
The property arm of JG Summit Holdings, Inc. — under the Robinsons Luxuria residential brand — launched The Residences at The Westin Manila Sonata Place during a media briefing in Taguig City on Monday.
Robinsons Land partnered with Starwood Asia Pacific Hotels and Resorts Ptd. Ltd. to manage the hotel and residences. The project represents the first mixed-use development under The Westin brand in Southeast Asia.
“We intend to have a significant sales by December 2017,” Robinsons Land Vice-President for Sales and Marketing May V. Lopez told reporters during a press preview of The Residences.
She added Robinsons Land has obtained a license to sell the residential units as early as February but wanted to finish the model units before “actively” marketing the project.
“In this market, we really have to show them. This is the first time that we’ve offered this type of a caliber of a project. Just last week when some of the clients have been coming, they’ve been very positive with the price of the units.”
The residential units come with a signature The Westin Heavenly Bed for master rooms and the Heavenly Bath shower, as well as appliances by leading German brand Gaggenau and kitchen cabinets by Leicht.
The Residences will rise 50 storeys high atop five basement floors. It will offer 344 units spanning 47.29-82.70 square meters (sq.m.) for the one-bedroom type, 96.52-160.17 sq.m. for two-bedroom units and 173.79-254.77 sq.m. for three-bedroom units.
Robinsons Land expects to generate P6 billion from selling the residential units, with prices ranging from P9.33 million to P16.47 million for a one-bedroom unit, P18.39 million to P32.81 million for a two-bedroom and P33.76 million to P50.74 million for a three-bedroom.
“We’re looking at that (sales) for the residence portion: about P6 billion,” Henry L. Yap, business unit general manager for residences and communities under Robinsons Luxuria, told reporters during the press preview.
Robinsons Land expects to sell about 70% of the residential project located along San Miguel Avenue in Pasig City to end-users and the remainder to investors, Ms. Lopez noted.
The hotel component of the development will rise 31 storeys high alongside the residential building. It will offer 303 rooms under the Westin trademark licensed to Robinsons Land by Starwood Asia Pacific.
Robinsons Land targets to complete The Hotel in 2019 and The Residences in 2021, having started the excavation work at the property in September.
Asked whether Robinsons Land intends to partner with international companies for future upscale projects, Mr. Yap said: “We look forward to but right now we cannot say because like this one it took a while for us to end up with one brand.”
“But the idea is, of course, for us to be able to keep on improving our brand, we have to eventually do some tie-ups but it will take a while.”
An international brand helps in marketing the residential development, particularly at a time when more Filipinos are becoming affluent consumers, Mr. Yap noted.
“But more than that, because the synergy is with this brand, whatever expectation you have for a hotel, you can bring it to the residences.”