Century Properties Group Inc. is building a 52-story development along Pasig River designed by Italian Missoni Home for P3.5 billion, the company said in a press conference over the weekend.
Called Acqua Livingstone, the development with a view of the Makati and Taguig skylines will be marketed mostly to overseas Filipino workers and foreigners.
“It is the first residential building in the world that will bear the creative and colorful mark of Missoni Home,” said Marco Antonio, Century Properties’ project head and managing director. “It is not available elsewhere, except in Missoni-branded hotels in Edinburgh, Scotland and Kuwait,” he noted.
“We're targeting our overseas Filipino workers, as well as our domestic and foreign markets. Our international sales have grown to about 35 percent of our total sales in the last five years,” said Antonio.
Acqua Livingstone will rise on a 2.4-hectare property in Mandaluyong, a bridge away from Makati, in 2016. Its groundbreaking will be on March 8.
The six Acqua Private Residences — Acqua Livingstone is the fourth — will change the urban landscape along the Pasig River where plans are afoot to refurbish the historic Post Office building into a tourist hotel.
Niagara, Sutherland and Dettifoss have been pre-sold since 12 months ago. “We sold at least 1,800 units for P7 billion,” Antonio said.
Century Properties expects P20 billion in sales this year, or 11 percent over P18 billion in 2011.
Apart from the OFW market, the company is also aiming to sell its units to Singaporean and mainland Chinese investors.
In the 10 months to October 2011, it said that net income grew more than four times to P781 million from P143 million a year earlier. It sold 5,367 units last year from 2,325 units.
Missoni celebrates life
Founded by Ottavio and Rosita Missoni in 1953 as a knitwear label, Missoni has grown into a fashion empire that includes Missoni Home. It has been run by three generations of the Missoni family.
“Missoni Home is known for creating its own style that reflects a celebration of life,” said Vittorio Missoni, marketing director and shareholder of Missoni S.p.A., in a statement.
“We are inspired by the seasons of nature and we play with color because life is more beautiful with color,” he said.
Acqua Livingstone will feature The Canopy, a multi-level center of amenities on the building’s skydeck, which serves as the pinnacle of Missoni Home's design imprint.
The Canopy will house functions rooms, business center, indoor and outdoor gym, Jacuzzi and library, as well as an amphitheatre, a lounge, and a DJ booth, including dance floor, pool with swim-up bar and barbecue facilities.
According to the Italian, Acqua Livingstone residents will enjoy a rainforest design that showcases Pasig River, with the four-story sports and leisure complex with three waterfalls called The Pebble.
A shuttle boat will take residents to and from the Makati side to the The Pebble’s RiverWalk Promenade which features restaurants, bars, cafes and a boardwalk. — VS,