DURING more than a decade studying and working in the United States, JR Yujuico, CEO of Point Blue, experienced living in different types of apartments. The exposure would help him develop a housing concept that is perfect for office workers based in Makati and the Bonifacio Global City (BGC) areas.
When he decided to return home, the 37-year-old Yujuico was quite convinced that he has a solution to the woes of people who work in city’s major business districts. “When I was working in New York, I experienced living in the so-called brownstone apartments, or micro studios, which have minimal cut of 11 square meters [sq m],” Yujuico recalled.
The daily gargantuan traffic jams experienced by the local work force has accelerated the development of micro studio just like the ones Yujuico used to live during his stay in the United States.
Before developing the first Point Blue project in Guadalupe, Makati City, Yujuico and his team conducted a study and profile of the target market. “We did the math first to determine the background of our potential clients,” Yujuico said.
In their research, Yujuico and his team discovered that their target market would be the young professionals earning an average of P50,000 a month. Moreover, they also found out that there was a big market for first-time renters.
The Guadalupe project called Bonifacio Point was a success. Nine out of the 10 tenants renewed their contracts. “We’ve found out that BGC and Makati are massive markets,” Yujuico noted.
Just a 15-minute walk to BGC, Bonifacio Point is a six-story integrated micro-studio building is very accessible by public transport and includes an elevator, 32 high-definition surveillance cameras, biometric access points and a common area. Each of the 69 units has access to high-speed Internet connection, the same connection that multinational business-process outsourcing companies use to minimize downtime
Each unit has a size of 11 sq m with a monthly rent ranging from P10,800 to P12,200 per month. The monthly rent depends on the floor location and unit layout, but is already inclusive of association dues, Internet fee and taxes. There are absolutely no hidden charges. Pay only what’s stated on the contract.
To ensure there will be quality in the building of the projects, Yujuico had to screen 20 contractors for the different Point Blue projects.
By introducing Point Blue into the market, Yujuico has proven that a lovely design and excellent service aren’t inclusive to upscale communities. He said Point Blue’s design and management principles has put premium in accessibility and affordability in the urban setting of Manila.
Further, Yujuico said Point Blue has resident hospitality specialists that can deliver quality property-management services. Moreover, it has high-speed Internet available in each unit and an online property-management platform designed to suit the tenant’s needs.
Yujuico said each location of a Point Blue project follows a standard that is consistent with the design by the team of its of engineers and designers that maximizes the spaces in an efficient and practical manner. He pointed all the microstudios are well-ventilated and include theater-quality soundproofing to ensure peace and privacy.
Aside from wireless Internet, Point Blue microstudios are equipped with a bed with 6-inch mattress, underbed and hanging storage, drawers, desk with chair, roller blinds, air-conditioner, microwave, shower, water heater and bidet come standard with each unit.
Other Point Blue projects in the pipeline are the following:
- General Ricarte in South Cembo, Makati City, to be completed in the second quarter of 2018;
- Teka in San Antonio Village, Makati City, to be completed in the first quarter of 2019;
- Estrella in Estrella Street in Makati City to be completed in the second quarter of 2019;
- Quezon in South Cembo in Makati City to be completed in the first quarter of 2019; and
- General Luna also in South Cembo, in Makati.