AboitizLand Inc., the property unit of Aboitiz Equity Ventures Inc., has teamed up with Point Blue, a pioneer in the integrated micro-studio market, to build 20 apartment buildings over the next two years.
AboitizLand said in a statement over the weekend the 50:50 partnership would construct micro-studio rental apartments within walking distance of Metro Manila’s Central Business Districts to meet the growing demand of young professionals looking for affordable living spaces near their workplace, without sacrificing privacy, style and convenience.
“For 25 years, AboitizLand has been creating better ways to live through innovative concepts translated to thriving residential, commercial, and industrial communities. This strategic joint venture partnership allows us to offer the same elevated way of living for young urban professionals in Metro Manila,” said AboitizLand first vice president of operations Rafael de Mesa.
“Point Blue is an innovative company that created the micro-studio category in the Philippines. They have proven that you can deliver beautifully designed living spaces at affordable prices and convenient locations, delivering the best possible residential experience at a price that is accessible to Manila’s young and dynamic workforce,” de Mesa added.
Point Blue designs, develops and manages apartment units that range from 10 to 15 square meters in size, and are rented out from P12,000 to P15,000 monthly all-in.
It currently operates 302 units in three locations, with three more buildings becoming available before the end of 2019.
The micro-studios are leased ready for move-in and all units are equipped with a bed, ample storage space, a desk and chair, roller blinds, air-conditioner, microwave and free high-speed Internet. A private shower, water heater and bidet also come as standard with each unit.
All Point Blue buildings are located within a 15-minute walk to central business districts like Makati or Bonifacio Global city, making them perfect housing alternatives for the millions of traffic-weary professionals who have to commute in and around the metro daily for work.
“We are very excited to be partners with AboitizLand, a company backed by a strong reputation and decades of experience. We share their commitment of creating better ways to live by providing an elevated living experience for our urban professionals who are the backbone of our vibrant economy,” said Point Blue’s chief executive JR Yujuico.
“This partnership will enable Point Blue to rapidly expand our footprint in Metro Manila and beyond. We expect to scale up to twenty buildings in the next two years. We have seen incredible demand for our product and look forward to giving more people better housing options in the coming years,” Yujuico added.