Despite the economic slowdown caused by the global pandemic in the last two years, demand for housing continues to be strong according to Westchester Realty Corporation.
“Owning a home remains a top priority for Filipino families, that is why even with the pandemic, the demand for our housing projects remained strong,” Nico Valencia, President and Chief Operating Officer of Westchester Realty Corporation (WRC) told reporters in an interview during the Open House of its latest development, The GA Towers 2.
The redevelopment of GA Towers furthered the partnership between WRC and Pag-ibig Fund, following the initial success of its previous venture in other key provinces. The property firm owned by former Governor and Solon, Rodolfo G, Valencia, acquired more than 8,000 housing units formerly owned by Globe Asiatique over the last 2 years from the mutual funding agency. These former Globe Asiatique housing communities are located in Pampanga, Binangonan, and San Mateo in Rizal province including Valenzuela City and the GA Tower in Mandaluyong.
Valencia says this is why WRC is optimistic that the 540 available units at GA Tower 2 would be sold out by year’s end, and judging from the turnout during its first Open House event, the remaining units might be sold even earlier than expected.
The GA Tower 2 is located within the heart of EDSA, Mandaluyong City, along EDSA and infront of Boni-MRT Station in Mandaluyong City. Its proximity to Ortigas and Makati (both 10 minutes away), coupled with easy and direct access to Boni-MRT Station.
“Our location is ideal for those working in the business districts, whether their offices are in Makati, BGC, Ortigas, or Quezon City, they can drive or commute via the MRT, or take the bus which is just outside the GA Tower. There are also a lot of shops, restaurants, groceries, and even malls many of which are just within walking distance making it every city dweller’s dream home, Valencia added.
WRC is offering GA Towers condominium units at an average price of P2.8 to 3.6 million. These are already 1 to 3 bedroom units with a spacious floor area of 36sqm to 45 sqm.
This computes to around just Php77,000/sqm as compared to other nearby projects that are priced at around P100,000/sqm.
“Now when you get it thru Pag-Ibig, the monthly amortization is just around P16,000 a month, which is about the same price of renting a house or condominium in Mandaluyong, that is why we are calling this rental replacement,” Valencia pointed out.
“This is definitely a bargain considering that buyers will be moving in newly re-furbished condo units with complete amenities, notes Zy Valencia, marketing and promotions head of GA Towers. “This is an opportunity every home-buyer wouldn’t want to miss.” As she compared GA Tower to other developments along EDSA that are priced way above Westchester’s price offering.
Valencia explained that they are able to set their prices lower since they are not building or developing a new condominium project. And compared to pre-selling condo projects, units are available and ready for occupancy after 45 days from the day of signing the contract and payment of the 10 percent down payment.
One advantage of living in a condominium is having access to all sorts of amenities. GA Towers offers residents complete amenities including two swimming pools (one indoor, one outdoor) a fitness gym, a beauty salon, a garden, a lobby café, and 24-hour security and CCTVs.
Valencia adds that by October, they will also be opening the Z Lounge at the Roof Deck, a bar and restaurant that will offer a unique 360-degree view of the city.
Valencia assured prospective buyers that they have nothing to worry about since the entry of WRC has resolved any controversy between HDMF and Globe Asiatique. WRC has acquired the rights of the HDMF (Pag-Ibig) Fund through public auctions, on an “as is, where is basis.
We did our utmost due diligence and together with the assurance from Pag-Ibig Fund, everything has been running accordingly and smoothly, Valencia said.
At the start of 2020, WRC acquired the housing units and all its facilities through four separate public auctions offered by Pag-Ibig Fund and has since then taken over the re-development and selling of the subject properties to individual buyers mostly composed of Pag-Ibig member-home-borrowers.
“We are very excited about the GA Tower project as this furthers our goal to provide “affordable luxury” coupled with convenience and help fulfill the dream of every Filipino family.”
WRC is a subsidiary of RGV Group of Companies, a development company with over 300 housing projects for the past 45 years. For the past 2 years of its operations, WRC was awarded twice by HDMF as No.1 Developer in Northern Luzon and No.7 Top Developer Nationwide.