The Philippine real estate market is more known for its office buildings that support one of the largest catchments for business process outsourcing in the world. But the Philippines is not short of other real estate asset classes, hosting a growing residential, industrial, retail, and hospitality sectors.
However, perhaps one of the less talked about areas of Philippine real estate is its luxury residential sub-sector. Specifically, when looking at the condominium supply in the country, one would see that it is dominated by mid-end projects and that there are limited upscale options. Because of this, a number of major property developers have launched luxury projects in recent years.
If you are interested in this niche, here’s are some of the most luxurious condos in the Philippines:
Park Central Towers
When looking for luxury properties, one easy way to do this is to search for a condo for sale in Makati – one of the Philippines’ most expensive markets. This is especially true when looking into the Makati Central Business District such as the Park Central Towers.
Park Central Towers is a high-end condominium project of Ayala Land Premier, the luxury arm of Ayala Land. Situated in the newly-master planned Roxas Triangle, Park Central Towers boasts of its key location, being at the heart of Makati CBD.
The two-tower luxury condo was launched in 2016, and its South Tower is set to be completed in 2024. A three-level penthouse unit in the project called Anadem Villa One was sold for PHP 477 million (around USD 9.3 million today). The 5-bedroom, 1,635-square meter (around 17,600 square feet) unit boasts of a private elevator lobby, a courtyard, a gallery, and a 281-square meter pool deck complete with a pavilion and an outdoor bar. The unit also has its own gym, home theater, spa, and wine storage.
The Estate Makati
Another ultra-high-end condo for sale in Makati City is a joint project between two major property developers in the country, SMDC and Federal Land, called The Estate Makati. Touted to be the tallest building along the prominent Ayala Avenue at 270 meters.
The Estate Makati is considered one of the most expensive condos in the Philippines by commanding a pre-selling price of over PHP 600,000 per square meter (around USD 1,083 per square foot).
Before its official launch, the eight penthouse units of the project were already sold out, with each unit carrying a price tag of over PHP 400 million (around USD 7.8 million today).
Units at The Estate Makati are expected to be turned over in 2023.
Another premium address in Makati City outside of the Makati Central Business District is Rockwell Center. Developer by Rockwell Land, the complex’ new project, The Proscenium, is gearing up to be its most luxurious.
The 5-tower project was designed by Carlos Ott, a world-renowned architect whose brilliant works include the Opéra Bastille in Paris.
Art is at the core of The Proscenium, the project features a 600-seat performance arts theatre together with other elegant amenities.
Units in the Proscenium costs around PHP 400,000 per square meter (around USD 719 per square foot today).
The Seasons Residences
The Japanese-inspired The Seasons Residences is a four-tower project from Federal Land, in partnership with Nomura Real Estate Development and Isetan Mitsukoshi Holdings.
The four towers of The Seasons Residences are named after the four seasons of Japan: Haru, Natsu, Aki, and Fuyu. The Haru tower will be the first to be completed, and is slated for turnover in 2023.
The 4-storey podium of the project will feature the first Mitsukoshi mall in the country.
The project is located in Bonifacio Global City, one of the most expensive addresses in the Philippines, rivaling Makati CBD. The 3-bedroom penthouse of The Seasons Residences costs around PHP 465,000 per square meter (around USD 836 per square foot).
Federal Land is also the owner of Metrobank Center, a 66-storey skyscraper in BGC which houses the Grand Hyatt Manila.