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Manila’s skyline is slowly but surely transforming as the property boom envelops the country’s capital.
Mayor Alfredo Lim said 2011 saw the city host several big-ticket property projects, including what will become the city’s tallest building, the 57-storey Anchor Skysuites on Ongpin Street Binondo, Manila, a project of Anchor Land Holdings.
The P3-billion Anchor Suites is envisioned to become the tallest skyscraper not only in Binondo but in all Chinatowns all over the world outside of China.
The building sit on a 3,100-square meter property, has a sky garden patterned after upscale residential condominiums in New York and other major cities around the world.
It offers one whole floor dedicated to viewing its magnificent surroundings and the panoramic view of Manila skyline. It will have a swimming pool, playground, fitness center and other amenities.
RAISING THE BAR FOR LUXURY DEVELOPMENT
The high-end condo raises the bar for luxury real estate developments in the Philippnes.
Anchor Land acquired the property from Gotamco Investment Realty Corp., a landowner in Binondo. Being one of Metro Manila’s tallest sky scrapers, the Anchor Skysuites is an epitome of the height of accomplishment that Manila’s Chinese-Filipino business community has reached.
Anchor Land is also the developer of the 32-storey Lee Tower and the 39-floor stylish Mandarin Square, both in Manila Chinatown, and the 33 –storey Mayfair Tower on United Nations Ave. in Ermita, Manila.
Lim also noted the construction of the 53-storey Admiral Bay Suites near Admiral Hotel along the prime stretch of Roxas Boulevard, facinf Manila Bay in Ermita, Manila. All units have balconies that afford a perfect view of Manila Bay ot the Makati skyline.
The tower is divided into the West and East wings, and residential units in both wings start on the ninth floor. All units have balconies to afford its owners unimpeded and perfect view of Manila Bay, which is famous for its breath-taking sunset and the Manila and Makati skylines.
In Malate, Swiss developer Bernard Burch is building the Birch Towers. The 50-storey residential condominium at the heart of the prestigious Malate is located on Jorge Bocobo Street besides Robinsons Place Manila.
The masterpiece of one of the country’s newest real estate developer Mirobeni Property Holdings is expected to be finished in September next year.
LIM GETS TOUGH TO SPUR ECONOMIC GROWTH
Much of the boom can be credited to Lim’s well-known “tough guy” style of management. When he assumed the mayoral post, he disregards an ordinance that restricts high-rise development in the city, an ordinance that is still in the force today. He said he found the ordinance a stumbling block to the economic growth of the city.
“We disregarded the ordinance and followed the national law, which does not prohibit construction of high-rise buildings in Manila,” relates Lim. He lamented that Manila has lagged other cities in Metro Manila because developers refused to build in the city during the past administration. The ordinance limited the height of condominiums to 19 stores only.
“When I was elected in 2007, I said if there is a conflict between the national law and the local law, what would prevail is the national law” he said, “Definitely it will attract investors. If they see that the environment and the atmosphere is conducive for their investment they will come in”
In July, property giant Megaworld Corp. opened the high-rise “City Place”, a shopping mall-residential plae in bustling Chinatown in Binondo. He said the City Place, which was established under the administration of Kevin Tan, Megaworld’s Commercial Division head and First Vice President and Division, is the only mall in the city that houses a heritage museum featuring the history of Manila.
WATERFRONT REDEVELOPMENT IN THE WORKS
Lim is taking the growth a step further with an ambitious plan to redevelop the Port Area, one of the city’s most notorious slum-infested districts.
Taking his cue from major cities in the United States, Canada, and Europe – where some of the most expensive properties are waterfront parcels – Lim wants to build high-rise condominiums in the district as well.
He says President Benigno C. Aquino III is amenable to the project, and he is just waiting for the recommendation of Transportation Secretary Manuel Roxas II. The Manila waterfront is under the aegris of the Philippine Ports Authority which is under the Transportation department.
Lim said he opes to see Manila as the country’s next financial district, comparable to New York’s Wall Street. He said groundbreaking for the financial center to be located at South Harbor in Port Area will hopefully start by next year.
By: Manila Standard Today (Dec. 28, 2011) Macon Ramos-Araneta
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