8990’s 1st condo is already 50% sold
Mass housing developer 8990 Holdings Inc. of bilyonaryo JJ Atencio said its first high-rise condominium project is now 48 percent sold and is seen to generate P1.7 billion in sales.
The 42-storey Urban Deca Tower along Edsa Mandaluyong with a development cost of P800 million is targeted for completion by September next year.
It will bring to the market 1,148 new units with an average price of P1.4 million each.
Construction of the project is now on the 30th floor, 70 days ahead of schedule.
“Expected topping off and delivery of the first batch of at least 400 units on the lower floors will be by the end of the year,” 8990 Homes said in a statement.
“Our Urban Deca Tower was never meant to be for primary residence. The Tower’s concept of ‘halfway housing’ is 8990’s response to the growing phenomenon in Metro Manila where more and more workers are deciding to get a rented space near their workplace and go home to their residences on weekends.
This is a result of traffic congestion, high cost of transportation, as well as a diminution of lifestyle because of those factors,” Atencio said in a statement.
Urban Deca Tower is the first of three condominium projects planned for construction this year. The other two are in Tondo, Manila and Ortigas Avenue Extension.
The Tondo project will have 13,000 units comprising 13 twelve-floor buildings while the project in Ortigas will have 33,000 units in 24 twelve-floor buildings.
Both projects will have a full sized community mall called “Deca Mall” as the major amenity.