MANILA, Philippines - While major property firms are expanding their footprints outside Metro Manila, one provincial developer is doing the opposite as it seeks more opportunities in the highly-competitive Makati office market.
Innoland Development Corp., founded in Cebu in 2005, recently launched its first office building in Metro Manila, Altaire, a 45-story building on a 6,111 square-meter lot along Malugay St. in Makati City.
The project will offer a total 58,273 sqm of office space and an additional 984 sqm of retail space.
“Being the first project of Innoland outside Cebu, Altaire’s quality is ensured from its overall architecture to its every tile. The project is designed more to look like an upscale hotel rather than a typical office building, while still managing 84 percent building efficiency,” Innoland said.
The name Altaire was inspired from the 12th brightest star in the constellation Aquila the Eagle, Altaire, or Alpha Aquila, according to Innoland.
Apart from the office and retail spaces, the building features two elevators which caters to the high and medium levels and high-tech safety system which ensures only employees and registered visitors can access the office floors.
The project is expected to be completed in 2021.
Despite the company expanding its footprint to Metro Manila, Innoland is still holding on to its niche Cebu market as it set to launch a 1.3-hectare mixed-use project in the area.
The development, to be called Montage, is a three-building project to rise along Archbishop Reyes Avenue in Cebu, which offers 40,000 sqm of grade A office space, 2,995.67 sqm of retail options, and either a residential or hospitality component.
“Three buildings will soon rise in Montage, two of which will be office buildings catering to BPO and KPO industries,” the Cebu developer said.
“One Montage, the first tower to rise with 28-stories, is also expected to be the next favorite hangout place as it will soon cater to new retail brands in Cebu,” it added.
The retail areas of the development are set to house a mix of local and international brands, which could include car showrooms and a supermarket, according to the developer.
Target completion of the first tower is in 2019.
“With the latest projects, the company seeks to offer people a welcome escape from the hustle and bustle of the city. Its efficient green buildings are set to leave people in awe with iconic designs,” Innoland said.
Source: by Catherine Talavera (The Philippine Star) - August 24, 2017 - 4:00pm