LISTED property developer Arthaland Corp. expects to generate about P12 billion in sales from Sondris, a luxury residential development in Makati City that is scheduled for groundbreaking this June.
Located along Arnaiz Avenue in Legazpi Village, the 41-story residential tower with 252 units is being developed in partnership with Japan’s Mitsui Fudosan Group.
Pamela Go, head of Arthaland’s marketing group, told reporters on Friday that the company had already raised prices amid brisk market interest.
One-bedroom units are now priced at around P22 million, up from about P21 million at launch, while three-bedroom units now start at P72 million.
“We’ve had a five-percent increase since launch,” Go said.
Most one-bedroom buyers are investors, she said, while three-bedroom units are being purchased primarily by families from southern Metro Manila.
“The majority of investors are in the one-bedroom units,” Go said. “Three-bedroom buyers are mostly from the south. They want to downsize, and they still want to live within their families in nearby villages.”
Groundbreaking is scheduled for June 17 with a showroom set to open on June 30.
Arthaland said Sondris will combine sustainability-focused features with Japanese design and planning expertise, amenities aimed at enhancing residents’ quality of life.
“It’s really bringing together the global expertise of Mitsui Fudosan and the sustainability expertise of Arthaland,” Go said.
Mitsui Fudosan (Asia) is a wholly owned subsidiary of Mitsui Fudosan Co. Ltd., one of Japan’s largest real estate companies and a core company of the Mitsui Group.
Sondris is being positioned as a low-density residential development catering to the upscale market in Makati’s southern district, an area known for its mix of commercial, cultural, and dining destinations.
The property developer is controlled and majority-owned by the Po family through holding firm CPG Holdings Inc. The family is also behind listed Century Pacific Food.
Arthaland’s shares last closed at P0.43 each on May 25.
NAZYLEN JOY MABANGLO