This article was initially featured on the BusinessWorld Website on July 24, 2024 authored by Revin Mikhael D. Ochave.
LISTED luxury property developer Shang Properties, Inc. said it expects to generate close to P50 billion in sales value from its new two-tower Shang Summit residential development in Quezon City (QC).
“Our total sales value for the two towers is close to P50 billion based on current prices,” Shang Properties Executive Vice-President for Commercial Maria Rochelle S. Diaz told reporters on the sidelines of a media briefing in Taguig City on Tuesday.
Ms. Diaz noted that the sales forecast is the highest for any Shang Properties project. The property will have its soft launch on Sunday.
Shang Summit units are priced at P280,000 per square meter, excluding value-added tax. The development is situated on a 6,000-square-meter lot in South Triangle, Quezon City.
“The project includes two towers. The first tower will have 1,020 units, and the second will have nearly 900 units, totaling almost 2,000 units available on the market,” she said.
At 250 meters, Shang Summit will be the tallest residential development in the country and is the first residential project of Shang Properties in Quezon City.
The two towers are designed by the architectural firm P&T Group and the interior design firm FM Architettura.
The first tower is expected to be completed by the fourth quarter of 2030.
Shang Summit will feature amenities including a tropical swimming pool, a state-of-the-art fitness center, wellness facilities, co-working lounges, and extensive play areas for children. It will also include the Summit Lounge and Summit Gallery for relaxation and entertainment, and the Alcove, which will serve as quiet spaces for work or study.
“Shang Properties is committed to offering a luxurious living experience that caters to a wide demographic. Our vision with Shang Summit is to make luxury more accessible,” Ms. Diaz said.
Additionally, Shang Properties announced that the North Tower of its Haraya Residences in Pasig City will open in the third quarter. Haraya North will feature one- to three-bedroom units ranging from 67 to 203 square meters, all with a unique loggia extending the living space.
Residents will have access to 2,500 square meters of outdoor amenities and 2,270 square meters of indoor amenities, including children’s play areas, a swimming pool, and various communal spaces.
Haraya North is developed by Shang Robinsons Properties Inc., a joint venture between Shang Properties and Robinsons Land Corp.
On Tuesday, Shang Properties shares fell by 0.27% or one centavo, closing at P3.75 per share.
