REAL -ESTATE company Keyland Corp. is projecting to generate P2 billion in total sales for its latest P1.2-billion project called 110 Benavidez, that it said “offers best value for money and sound investment proposition”.
“This is really for the investor market,” Keyland Corp. Director and President Lito Montinola told reporters during the company’s press briefing in Makati on Monday.
With vacationers, staycationers and business travelers in mind, the property firm allocates the majority of its units—142 of out the total inventory—to serviced apartments that will cater to them. The remaining 67 units are for private residences.
The centerpiece of 110 Benavidez—Citadines Benavidez Makati—is designed for young business executives or couples on holiday exploring the city, boasting a contemporary and luxurious sanctuary brought into life with essential amenities, including a roof-top infinity pool, pampering the dweller.
It offers potential investors studio units (ranging from P7.5 million), one-bedroom units (ranging from P12.5 million), and two-bedroom units (ranging from P15 million). Exclusivity is always guaranteed here given its low density per floor, either with 2 to 11 units.
“I think that’s one principle that Keyland has tried to maintain over the past few projects,” he said. “The quality is value for money. So if you see our products and hear about the price points, you’ll be surprised with the quality we deliver.”
For this 32-story development project, facilities management is a top priority, hence, Keyland Corp. has partnered with The Ascott Ltd.
“When you have a partner like Ascott managing the building for you, it retains its original form. After 15 years, it will still look like it’s new because they have standards that they are following that cannot be altered,” Montinola said.
“Like for example, we allocate an ‘X’ percent of revenues every year for upkeep. So the unit owners, even after 15 years, when they get the unit, it’s like brand new. By having a very good facilities manager, your asset even appreciates in value. This is one way of making sure our investors have capital appreciation down the road,” he said.
Ascott will also be in charge of marketing and operating both the serviced apartments and private residences.
For the investors’ benefit, the global reputation of the group assures buyers consistent bookings of their units, as well as earnings from other features of the condominium. This offers them promising returns from the property’s profit sharing, ranging from 6 percent to 8 percent per annum.
While still under construction for completion in the first half of 2022, 110 Benavides already had a soft launch, following the acquisition of its license to sell in February.
“Most of our buyers are interested in the serviced component because of the selling point that it’s a worry-free investment. We have interests also in the residential segment. I’m sure we will have [more] because these are the prime units in the upper floors,” Montinola said.
He said their buyers include families, established overseas Filipino workers, corporations and even foreigners.
Keyland Corp. started operating in 2012 and has since done four residential projects and five commercial office developments.
Apart from 110 Benavides, it has Casa de Sequoia—its pioneering housing offered to “the affordable market” segment located in Las Piñas City. It’s already in the completion stage and set to be finished by the middle of this year.
The Southkey Place is a residential condo project in Northgate Alabang, to be turned over to buyers by the first quarter of 2019. Signa Designer Residences is a joint venture with Robinson Luxuria.
For its office portfolio, three are located in Makati— Keyland Centre, Keyland Ayala and Keyland Valero. Southkey Hub is a business-process outsourcing building in Northgate Alabang. Another office tower in San Juan City is called Leyland Plaza.
Montinola said they have more residential projects in the pipeline following their recent acquisition of property in Salcedo Village and Legaspi Village in Makati City.
“We are in the planning stage for them,” he said. “Since they’re in the central business district, and with the prices of land there, it really makes sense to do residential.”
Banking on the company’s bright future prospects, Keyland, though still in a startup mode, continues to venture for expansion.
“Our board of directors approved last month a 10-year investment program that we’ll invest in significant numbers. So the vision is to be one of the key players in the industry, not necessarily the biggest. It doesn’t have to be the most expensive nor the cheapest, but the best value for money,” Keyland Corp. Chairman of the Board Rex Drilon said.