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Demand for residential developments in Metro Manila, especially in major CBDs Makati and Bonifacio Global City (Fort Bonifacio) is at an all-time high, thanks to the growing PH economy and high influx of expatriates setting up shop in the country and investors looking to take advantage of the high yields ranging between 6% and 8% in BGC and 5.5% and 7% in Makati. Luxury and high-end condos or apartments are at the forefront of this trend, catering to the residential needs of the wealthy and the rising middle-class.
What are 'branded residences'?
Branded residences are residential developments marketed with branding. Inspired by the hotel sector, residential real estate developers have leveraged on the use of branding to create individuality and offer exclusivity in their developments. Success in image crafting helps a property remain competitive in a market, especially when it creates an aspirational model that reflects luxury and prestige associated with that brand.
Design: Design is an integral aspect in the creation of the property's image. Developers work with well-known architects and interior designers not just to improve the quality of the project, but also to help potential buyers identify with the development.
Facilities: Branding for luxurious and high-end properties also involves the integration of hotel features and world-class facilities to create an experience aimed towards luxury and prestige. Aside from having health and fitness suites, roof decks with parks and gardens, and swimming pools, some luxury and high-end residences today also offer business facilities as well as shopping and entertainment areas to have integrated hotel-style features.
Services: The hotel experience is also important in the process of branding -- together with luxury, security and privacy are also main objectives. This is why first-class developments have 24-hour concierge and security, CCTV monitoring, laundry services, spa services, cleaning services and other services that cater to tenant needs.
Branding lends credibility, endorsements, and identification -- allowing buyers to identify with a certain lifestyle and taste. With the right strategy, it can drive price premium and outperform non-branded developments by a considerable margin.
Competitive and innovative: The fusion of hotel and residential features in one development puts an added premium because buyers are constantly looking into joining the latest trends.
Benefits and convenience: The Philippines is known for providing outstanding services. This can encourage more investors and buyers to pay a little extra in exchange of the benefits of the services offered by the property.
Design and identity: Ground-breaking style and collaboration with renowned designers and architects adds value to the property.
Trust: Brands of world-class hotels and developers, actually help buyers gain more confidence to invest in a property, especially if it is located in a foreign country.
Branded residences in the Philippines
The trend is on the rise in the country, as more branded residences are in the pipeline in major CBDs Makati, Bonifacio Global City, and Ortigas or Mandaluyong. Tourist destinations such as Boracay and Cebu are also popular sites for branded developments.
Discovery Primea: This upscale hotel-residential condo is currently in the pipeline and is expected to be turned over by the end of 2013. It is a collaboration among JTKC Land Inc., Tange Associates, and Jorge Y. Ramos & Partners. It features over 50,000 sqm of floor area, with spacious units that have three to four bedrooms.
Raffles Residences: Designed by Arquitectonica and Bent Severin International, Raffles Estates is a hotel-managed condo with 237 units -- one of the first luxury branded residences in Makati. It offers apartments with one to four bedrooms, from 71 to 402 sqms.
The Residences at Shangri-La: Led by Shangri-La Hotels and Resorts, The Residences will be open by 2014. Designed by Handel Architects, this development is located along Fifth Ave and 30th in Bonifacio Global City. It is a mixed-use business, residential, and retail tower.
Grand Hyatt Residences: Another hotel-branded or managed residence, Grand Hyatt has 45 stories featuring one to five-bedroom apartments with 103 to 407 sqms. Soon to rise in Bonifacio Global City, the development is designed by Wong + Ouyang and its anticipated completion date is in 2015.
Aqua Boracay: Designed by one of the pioneers of branded residences in the world, Yoo, Aqua Boracay is the first branded resort-residence in the Philippines. Located right on the beachfront of Bulabog, Aqua Boracay has first-class amenities including a pool, clubhouse, 24-hour concierge, and spa services.