BOUTIQUE property developer TransPhil Real Estate (TransPhil) is bullish in the potential of townhouse projects in Metro Manila with a target of raising P600-800 million from eight new properties within the year.
In a media launch yesterday, the company said it was building close to P1-billion worth of projects this year to expand its gross floor area by about 15,000 square meters upon completion.
“Conservative target for us would be P600-800 million for this year. But our North Star target, we’ll try to go for the whole P900 million,” TransPhil President and Chief Executive Officer Ramon “Dax” C. Garcia III told reporters when asked for the company’s target sales in 2020.
TransPhil Real Estate is the new name of TransPhil Land Corp., a 45-year old company established by Mr. Garcia’s father, Roland H. Garcia
The rebranding started in 2019 when the company transitioned from building townhouses targeted to the B market to more high-end and luxury properties. TransPhil has so far built more than 1,000 units and prides of a 100% completion and turnover of its properties.
TransPhil Vice-President for Sales and Product Development Rafael Gerardo C. Garcia, younger brother of Dax, said the company increased the selling price of its units to the P15-70 million range from P5-12 million previously after the rebranding.
“A lot of people ask us why the big jump suddenly. The reason is we’re building on the high-end market and the luxury market, which we feel there’s a really big demand in Metro Manila,” he said.
He noted to justify the price, TransPhil increased the sizes of the properties and improved the units’ interior design.
The company has eight projects lined up for the year: Rosevale Estates in Manila, Buenconsejo in Mandaluyong City, The Bedford in Quezon City, Barton in Mandaluyong City, Ellery Place in Quezon City, The Glenbrook in Mandaluyong City, Redwood Residences in Quezon City and Alderwood in Quezon City.
This would add to TransPhil’s flagship project in San Juan City, luxury development Horizon Estates, which was completed in December 2019.
“Metro Manila real estate prices are really high now. A lot of Filipinos… have given up on the dream of owning a house and lot in Metro Manila. What they feel their only options are are living in a condo or moving outside Metro Manila… We’re trying to tell people there’s another option. You can have a house and lot in Metro Manila at the affordability and the price point of condominiums now,” Dax said.
While he doesn’t want to close the door on expanding into building commercial leasing spaces and co-living spaces, he noted TransPhil’s focus right now is in the townhome segment, which he believes is “still in its infancy stage” and “still has a lot of room for growth in Metro Manila.” — Denise A. Valdez
