The Estate Makati, located along Ayala Avenue, was launched years ago by the Sy family’s SM Group and Ty family-led Federal Land, promising one of the most exclusive living experiences.
Thanks in large part to the support of friends, families, and associates of the two ultra-wealthy clans, the 188-unit development has sold about 70 percent of its inventory.
This was an impressive feat despite its units going for around P100 million or P700,000 per square meter—similar to land prices in the nearby Forbes Park gated village.
But competition has intensified since Ayala Land, controlled by the Zobel family, launched its own exclusive residential tower, Park Villas, just a few hundred meters away.
Offering 45 “villas”, each occupying an entire floor, the project prices condos at an even steeper P826,000 per sqm, valuing homes here at around P500 million.
What's astonishing is that Park Villas is quickly catching up and is now 30 percent sold despite its very recent launch, said Roy Golez, Leechiu Property Consultants (LPC) director for research and consultancy.
With both projects still ongoing, there’s plenty of time to sell off remaining inventory. Like most things involving the extremely rich, let’s just say this contest is very discreet yet fiercely competitive.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
