It is every Filipinos dream to have their own home. It’s the reason why many make the sacrifice of leaving their family to work overseas. Unfortunately, being an OFW still isn’t a guarantee that you could fulfill that dream in just a few years.
But what if you can own a home by paying the same amount as your monthly rent? All you need is to be an active Pag-Ibig member.
As part of its mission to make affordable housing accessible to every Filipino family, Westchester Realty Corporation has partnered with Pag-Ibig Fund in the redevelopment of GA Tower 2.
The property firm owned by former Governor and Solon, Rodolfo G. Valencia held an Open House event last July 8, 2022 to formally re-launch the GA Tower 2 condominium in EDSA BONI Mandaluyong (in front of BONI-MRT Station).
Nico Valencia, President and Chief Operating Officer of Westchester Realty said they were inspired to proceed into the re-development of GA Tower following the initial success of its venture with Pag-Ibig Fund. WRC has acquired from the mutual funding agency more than 8,000 housing units formerly owned by Globe Asiatique over the last 2 years. These former Globe Asiatique housing communities are located in Pampanga, Binangonan and San Mateo in Rizal province including Valenzuela City and the GA Tower in Mandaluyong.
“Even with the pandemic, the demand for housing continues to be very strong,” Valencia told reporters in an interview. “GA Towers offers an exceptional proposition for first-time homeowners bringing together the three most important aspects when investing in real estate—accessibility, affordability and amenities.
Valencia says this is why WRC is optimistic that the 540 available units at GA Tower 2 would be sold out by year’s end and judging from the turnout during its first Open House event, the remaining units might be sold even earlier than expected.
Prime location in the center of everything
The GA Tower 2 is located within the heart of EDSA, Mandaluyong City, along EDSA and in front of Boni-MRT Station in Mandaluyong City. It’s in close proximity to Ortigas and Makati (both 10 minutes away), coupled with easy and direct access to Boni-MRT Station.
“Our location is ideal for those working in the business districts, whether their offices are in Makati, BGC, Ortigas or Quezon City, they can drive or commute via the MRT, or take the bus which is just outside the GA Tower. There are also a lot of shops, restaurants, groceries, even malls many of which are just within walking distance making it every city dweller’s dream home, Valencia added.
Affordable luxury
WRC is offering GA Towers condominium units at an average price of P2.8 to 3.6 million. These are already 1 to 3 bedroom units with an spacious floor area of 36sqm to 45 sqm.
This computes to around just P77,000/sqm as compared to other nearby projects that are priced at around P100,000/sqm.
“Now when you get it thru Pag-Ibig, the monthly amortization is just around P16,000 a month which is the same price of renting a house or condominium in Mandaluyong, that is why we are calling this rental replacement,” Valencia pointed out.
“This is definitely a bargain considering that buyers will be moving in newly re-furbished condo units with complete amenities, notes Zy Valencia, marketing and promotions head of GA Towers. “This is an opportunity every home-buyer wouldn’t want to miss.” As she compared GA Tower to other developments along EDSA that are priced way above from Westchester’s price offering.
Valencia explained that their prices are much lower since they are not building or developing a new condominium project. And compared to pre-selling condo projects, units are available and ready to move in after 45 days from the day of signing the contract and payment of the 10 percent down payment.
Top-notch condo amenities
One advantage of living in a condominium is having access to all sorts of amenities. GA Towers offers residents complete amenities including two swimming pools (one indoor, one outdoor) a fitness gym, a beauty salon, garden, lobby café, and 24-hour security and CCTVs.
Valencia adds that by October, they will also be opening the Z Lounge at the Roof Deck, a bar and restaurant that will offer a unique 360-degree view of the city.
A fresh start, clean slate
Valencia then assured prospective buyers that they have nothing to worry about since the entry of WRC has resolved any controversy between HDMF and Globe Asiatique. WRC has acquired the rights of HDMF (Pag-Ibig) Fund through public auctions, on an “as is, where is basis.
We did our utmost due diligence and together with the assurance from Pag-Ibig Fund, everything has been running accordingly and smoothly, Valencia said.
At the start of 2020, WRC acquired the housing units and all its facilities through four separate public auctions offered by Pag-Ibig Fund and have since then taken over the re-development and selling of the subject properties to individual buyers mostly composed of Pag-Ibig member-home-borrowers.
“We are very excited about the GA Tower project as this furthers our goal to provide “affordable luxury” coupled with convenience and help fulfill the dream of every Filipino family.”
WRC is a subsidiary of RGV Group of Companies, a development company with over 300 housing projects for the past 45 years. For the past 2 years of its operations, WRC was awarded twice by HDMF as No.1 Developer in Northern Luzon and No.7 Top Developer Nationwide.
If you like this article, share it on social media by clicking any of the icons below.
Or in case you haven’t subscribed yet to our newsletter, please click SUBSCRIBE so you won’t miss the daily real estate news updates delivered right to your Inbox.
The article was originally published in Manila Bulletin.
About Post Author
More Stories
Lamudi’s Property Fair Opens in Metro Manila May 3, Heads to Cebu in August
PHL to attract int’l real estate investors, occupiers — Cushman & Wakefield
Expansions, upgrades fuel Manila office market