By James A. Loyola
Affordable homes developer 8990 Holdings, Inc. announced that its first high rise development in Metro Manila has already been completed and fully sold just 21 months after it was launched.
According to 8990 President Willie J. Uy, “the fast take-up of the units convinced us to continue development of these types of units along major thoroughfares.”
Urban Deca Towers Edsa (UDT Edsa) is a 42-floor residential building that has a total of 1,143 units. UDT Edsa started turning over units in the third quarter of 2017.
Currently, there are a total of 445 units occupied with unit turnover activities still on-going. Amenities include a foodcourt, a convenience store and a self-service laundromat.
“I believe micro-condos will be the norm rather than the exception in the future especially in larger cities such as Metro Manila. Higher home prices have resulted in people moving outside of the Metro and end up travelling more than two hours to where they work,” said Uy.
He explained that, “what we have done is provide students and workers with a home during the weekdays. What they typically would spend in renting a dorm or commuting is enough to cover their monthly amortization. UDT-Edsa not only creates work-life balance but also allows our buyers to own an asset in the heart of the city.”
By 2020, 8990 Holdings, Inc. will have a total of 15,285 units in Metro Manila. Aside from UDT Edsa, the Company is currently developing 13,112 units at Urban Deca Homes Manila located in Tondo, Manila and 1,024 units at Urban Deca Homes Campville in Muntinlupa City.