Zuellig Building A green footprint for Makati’s Commercial Real Estate Market

In 2009, Bridgebury Realty Corp, an affiliate of the Zuellig Group, announced that it will be investing 7 billion Peso for the construction of the Zuellig Building. The Zuellig Building, to be completed by Q1 2012, is located in the Makati Central Business District, at Makati Avenue corner Paseo de Roxas, on a lot area of 8,285 square meters. The 33 storey structure is a premium, commercial, single-owner office building, with 55,000 square meters up for lease to multi-tenants Interestingly, the Zuellig Building will be the first ever Leadership in Energy and Environmental Design (LEED) pre-certified Gold building in the Philippines. LEED is an — internationally recognized green building certification system, providing third-party verification that a building or community was designed and built, using strategies aimed at improving performance across energy savings, water efficiency, CO2 emissions reduction, improved indoor environmental quality, and stewardship of resources and sensitivity to their impacts– The LEED certification is meaningful given the increasing awareness and support to -green- efforts and saving the planet. From a business standpoint, the building promises operational savings on utilities (up to 40%) for tenants locating to the Zuellig Building.

Following the global financial crisis of 2008, the Metro Manila office real estate market is starting to stabilize and is now slowly recovering. Demand for Prime and Grade A office space is expected to pick up in the near term, coming from the positive business sentiment towards the new Aquino administration. According to Michael McCullough, Director of Manila real estate brokerage firm KMC MAG Group, -We have observed an increasing demand in premium office space in Makati, starting late 2010 until now. Therefore, we think the Zuellig Building has been perfectly timed to enter the commercial real estate market in Makati and the Philippines.- Upon completion in 2012, the Zuellig Building will be the only new Prime building in the Makati Central Business District. For perspective, by 2012, the other Prime buildings will be significantly older: Ayala Tower One would be 16 years, Philam Life Tower and the Enterprise Center would be 13 years, and RCBC Plaza would be 11 years. Given that a high-rise would take about three years to complete, no other new Prime buildings are expected by 2012. 2.

Condominiums of Todays Trends

Condominiums are some of the most popular types of housings in Philippine market due to its benefits which conform in todays modern trends. So what are the benefits or advantages of living in a condominium unit?

Different Types of Condominiums
There are currently two types of condominiums in the Philippines, the typical condominiums mostly found in the city, such as the many Metro manila condominiums, and condominiums found in the outskirts or even in the provinces, which are known as condominium complexes.

Location
The main factor which made most condominiums in the city popular is because of its location. Most of these types of housings are strategically found in business and commercial district, such as those found in Makati City and many other major cities in Metro Manila.

Because of its location, residents can enjoy the luxury of living within walking distance or mass transit distance from their workplaces, allowing them to avoid the usual hassles of rush hour. Its location is also within reach of popular entertainment places such as malls and “hang-out” places.

Condominium complexes, on the other hand, are found far from these places. Most condominium complexes are found in the outskirts, while some are even found in the provinces. These types of condominiums aim to provide a more family-oriented environment for Filipino families compared to Metro manila condominiums.

Because of its location, condominium complexes can offer a more peaceful and quieter environment compared to that of the city. Condominium complexes can also offer the wide open space that growing children require for playing. However, what made condominium complexes more popular is with its amenities.

Amenities
Other than its family-oriented location and environment, condominium complexes are also known for its amenities such as its own swimming pools, gyms, recreational parks, playgrounds, as well as a full-size sports complex complete with basketball, volleyball, tennis, and badminton courts. Because of this, condominium complexes became one of the best types of modern housing for modern Filipino families.

However, other than condominium complexes, a number of condominiums in the city are also known to offer their own amenities. Some of the oldest Metro manila condominiums offer gyms as their amenities. Today, many new condominiums in the city can now offer their own indoor swimming pools and sports complexes for the enjoyment of their residents.