Real-estate firm launches its first project in Makati City

MANILA, Philippines - Cactus Realty Corp, the flagship company of the ACI Group, will build a 35-storey residential building in Makati City, its first-ever project in the Philippines' premier business district. Located at the corner of Senator Gil J. Puyat Ave (formerly Buendia) and H. V. de la Costa St. in Salcedo Village, the project—called One Pacific Place—will stand on a 1,425 square meter property. Bankrolled by internally-generated funds and loans, the project will be ready for occupancy by 2011. Sixty percent of the project’s 550 units will feature amenities similar to a studio type arrangement, featuring a total floor area of 22.5 to 24 square meters. Twenty percent offers a one-bedroom package while the rest will feature two-bedrooms. The proposed structure marks the company’s first real-estate venture in Makati City, Cactus Realty’s vice-president Henry Lieuson said. The company’s parent, ACI Group of Companies, owns and manages existing residential and commercial buildings in Malate, the Pan Pacific Hotel and the commercial complex in Adriatico. Lieuson claimed that the project is the cheapest of its kind in the city, adding that prospective owners can acquire a studio-type unit for P2 million and a two-bedroom unit for P5 million. “This development will offer a new generation of Filipinos access to an enviable lifestyle within Makati’s Central Business District, also known as the Makati Golden Triangle," he said. - GMANews.TV