Residential condo rising in Brgy. Ayala Alabang.
Property developers Stonebridge Corp. and GeoEstate Development Corp. are building the 21-floor, 88-unit Sonria, the first high-end residential condominium in Barangay Ayala Alabang and Madrigal Business Park, offer property investors income-earning assets.
"Sonria is both for end-users and investors. It is for people who want to live in Alabang and for those who want to earn income from rental and price appreciation," says GeoEstate Chairman and CEO Francisco H. Licuanan III.
With its elegant 1-, 2-, and 3-bedroom units, family-friendly amenities, security, privacy, and prime location, Sonria appeals to empty nesters in Ayala Alabang and young couples. A Sonria unit also has the potential to give good returns when leased because of a big demand for housing for executives of foreign companies whose factories are located in industrial estates south of Metro Manila.
Licuanan says the head office of such multinationals are often located in Makati City making Alabang a very good middle point for their executives to live in. Living farther down south means that you have fewer supermarkets, restaurants and other commercial establishments to choose from. On the other hand living in Makati makes the long drive to the factory a big hassle.
"Right now, there are a lot of expats who are staying in hotels in Alabang," he says. "Expats choose Alabang because it has all the amenities and facilities to live in."
Sonria is beside Molito, a quick walk from Alabang Town Center, while Alabang Country Club is a short drive away. The condo is also close to main roads, schools, places of worship and hospitals.
Licuanan explains that development often starts with house and lots. When real estate values start picking up, people start to look for townhouses and, eventually, condominiums.