The Market Monitor Minding the Nation's Business
Mass-housing developer 8990 Holdings’s first high-rise condominium, the 42-story Urban Deca Tower along Edsa in Mandaluyong City, is now on its 30th floor and is 70 days ahead of schedule and with 48 percent of the project sold out, the company reported to the bourse.
Expected topping off and delivery of the first batch of at least 400 units on the lower floors will be by the end of the year. With completion target by September next year, Urban Deca has a total of 1,148 units priced at an average of P1.4 million per unit.
With a total project cost of P800 million, Urban Deca is expected to deliver gross revenue reaching P1.7 billion. Urban Deca Tower offers the benefit of converting rental expense into monthly amortization and property ownership for those workers in Metro Manila living in the outskirts of the city, 8990 CEO Januario Jesus Atencio III.
“Our Urban Deca Tower was never meant to be for primary residence. The Tower’s concept of ‘halfway housing’ is 8990’s response to the growing phenomenon in Metro Manila where more and more workers are deciding to get a rented space near their workplace and go home to their residences on weekends. This is a result of traffic congestion, high cost of transportation, as well as a diminution of lifestyle because of those factors,” Atencio said.
The Tower will have 41 residential floors, a ground floor social area, four basement levels, parking slots, a convenience store, a Laundromat, a food hall, lounge area as well as commercial spaces.
The building will be equipped with a 24-hour closed-circuit television (CCTV) and security and four high-speed elevators.
8990 has committed to launch two new projects this year located in Tondo, Manila – 13,000 units comprising 13 twelve-floor buildings, and in Or-tigas Avenue Extension – 33,000 units in 24 twelve-floor buildings.
8990 partnered with Ce-bubased ITECH-RAR Solu-tions Inc. in a deal worth P15 mil-lion for the installation of FDTH in Urban Deca Homes Campville composed of 12 Medium Rise Buildings with 1,024 units.
This is the third FDTH project for both 8990 and ITECH-RAR after the suc-cessful launch of the services in Urban Deca Homes in Ti-polo and Tisa, both in Cebu.
FDTH is the first of its kind offering for the whole low cost real estate industry fiber optics that is carried out from the main distribution line up to the condo unit for triple play including wired internet, WIFI, and cable TV.
The service has options for CCTV and Softphone completing the Pentaplay ser-vices with whole day mainte-nance and technical support.
“This means faster and more reliable bandwidth for both download and upload al-lowing all its users to gain the most efficient use,” 8990 said.
Both 8990 and ITECH-RAR would partner with third party suppliers to provide the bandwidth and cable con-nectivity for the exclusive roll out to the unit owners in Ur-ban Deca Home projects.
“Deca Homes is pleased to continuously make available to our homeowners the qual-ity of service and innovation that is associated with the Deca Homes brand,” Atencio said.
Under the partnership signed last March 29, ITECH-RAR will bring in fiber optics technology for Internet, WIFI, CATV, and other communica-tion and security services to Ur-ban Deca Home–Campville in Brgy. Cupang in Muntinlupa City.
8990 general manager for construction and engineer-ing Alexander Ace Sotto and ITECH-RAR president and chief executive officer Andres Ralota Jr. signed the agreement.
The recent partnership worth P15 million covers the installation of FDTH in Ur-ban Deca Homes Campville composed of 12 Medium Rise Buildings with 1,024 units.
This is the third FDTH project for both 8990 and ITECH-RAR after the suc-cessful launch of the services in Urban Deca Homes in Ti-polo and Tisa, both in Cebu.
FDTH is the first of its kind not just for the 8990 Group and most probably for the whole low cost real estate industry as fiber optics is carried out from the main distribution line up to the condo unit for triple play including wired internet, WIFI, and cable TV.
The service has options for CCTV and Softphone completing the Pentaplay services with main-tenance and technical support.
“This means faster and more reliable bandwidth for both download and upload al-lowing all its users to gain the most efficient use,” 8990 said.
Both 8990 and ITECH-RAR would partner with third party suppliers to provide the bandwidth and cable con-nectivity for the exclusive roll out to the unit owners in Ur-ban Deca Home projects.
Other medium rise build-ing projects of 8990 include Urban Deca Homes in Tondo, Manila; the Urban Deca Tow-er along Edsa in Mandaluy-ong City, and the Urban Deca Homes Origas in Pasig City.
The service boasts of in-ternet and WIFI services with speeds of up to three Mbps ranging between P699 a month for a data cap of 2.5 GB and P1,499 for unlimited data.
Unit owners will have to shell out P1,749 per month for internet and cable TV services and P599 per month for cable TV subscription only.