29/10/2014
Mass housing developer 8990 Holdings, Inc. broke ground yesterday its first 42-floor condominium located along EDSA and near Shaw Boulevard in Mandaluyong City.
To be known as “Urban DECA Tower- EDSA,” the high-rise tower shall be developed by 8990′s subsidiary, Foghorn, Inc. into as low-cost, value-for-money condominium.
The project would cost around P735 million and would take about 36 months to finish.
“Our first Urban DECA Tower along EDSA presents an innovative alternative for workers in Metro Manila where we are adopting the ‘half-way’ house concept,” said 8990 president Januario Jesus Atencio.
He explained that this “effectively addresses the practical need of workers in Metro Manila to have a decent, clean, safe, secure, and flood-free place to stay during weekdays that is near their place of work.”
Atencio noted that many Metro Manila workers today actually live in homes as far as Laguna, Cavite and Bulacan, and their condominium units would provide a viable housing solution to long commutes, traffic jams and renting dormitories and bedspaces.
The high-rise tower consists of 1,148 residential units measuring 13.06 square meters, 156 basement parking slots, a convenience store, a Laundromat, a food hall, lounge area as well as commercial spaces, and will be equipped with a 24-hour CCTV and security and four high-speed elevators.
“At present. We are studying a price-point that will be within the range of mass housing price that should not exceed P1.25 million per unit, and an affordable financing plan that would have a low-down payment of P2,000 per month for two years,” Atencio said.
Atencio said each unit is comfortably designed to be furnished with complete bathroom, aircon, telephone, Internet and TV cable, microwave oven, basic cabinets, mattress, curtains, and a small dining table.
