STRAIGHT FROM THE TOP
Tips in Investing in Philippine Condos

Selecting the best condominium to fit your needs and your budget may seem like a daunting task. So, how can one proceed with caution when investing in condominiums in the Philippines? RLC president, Lance Gokongwei, offers solid pointers as embodied in RLC’s two successive projects within the Bonifacio Global City, the Fifth Avenue Place and the McKinley Park Residences. A prime consideration is timing: In making any business decision, timing your investment to the economic upswing makes all the difference. Gokongwei firmly believes the Philippine economy is on the rebound. “Last year, the country’s gross domestic product and gross national product reached its highest level since 1997,” he said.

The second consideration is the developer’s reputation. Gokongwei noted that investing in a condominium is no different from buying any major consumer item like a computer or a car. It is enticing to buy on the basis of a marketing promise but it would save you a lot of trouble if you check out the developer's track record. “RLC is backed by the strength of the JG Summit Group, a leading Philippine business conglhomerate, and has a solid reputation for completing projects on time and on speci fications, meeting all expectations of buyers,” he said.

Third is location. A reputable developer assumes full assessment of the location of its project. As an individual investor, you have to be certain the property you want to buy offers a real hedge against uncontrollable factors like inflation. A great location, such as in the premium portion of the Bonifacio Global City, offers that kind of hedge, taking note that the long term value of the land in the area is expected to rise as its development continues. “Previous investors were clamoring for RLC to come up with a condominium development in the Makati/Fort Bonifacio area,” noted Gokongwei. “Future tenants will find the location we chose for Fifth Avenue Place (FAP) highly desirable, not only is it just walking distance from the best lifestyle establishments in town, but also highly accessible from major areas of the metropolis through Fort Bonifacio’s strategic entry points,” he added. The same is very true for RLC’s subsequent project, the “All-Loft” McKinley Park Residences (MPR), which was immediately launched after FAP’s successful take-up. MPR is situated in neighborhood of the world class St. Luke’s Medical Center, Price Smart, MC Home Depot, Sports Kamp recreational facility, the Market! Market! Mall, and a host of international schools.

The fourth, and ultimately the most definitive consideration, is value. With RLC’s expertise in value engineering, potential investors of McKinley Park Residences could easily secure a loft unit for as low as US$ 115 per square foot, while a unit at Fifth Avenue Place would go for US$ 100 per square foot, prices of which are lower than the prevailing norm in the Makati-Fort Bonifacio area. “RLC is attuned to the needs of its buyers,” he explains, adding “we made it a point not only to satisfy these needs but exceed them.”

Mr. Lance Gokongwei is the president and Chief Operating Officer of Robinsons Land Corporation (RLC). He is also president and Chief Operating Officer of JG Summit Holdings Inc., one of the largest conglomerates in the Philippines, whose diverse businesses include food, property, airlines, publishing, telecommunications, .internet, and banking. He graduated summa cum laude in double degrees from the University of Pennsylvania - BS Finance from Wharton, and BS Applied Science from Penn Engineering.