Reservation sales of DMCI Homes’ The Orabella residential condominium development along P. Tuazon Avenue, Cubao, Quezon City have breached the P3 billion mark less than a year after it was launched late last year.
As of July 7 this year, the single-tower 45-residential level development is 82 percent sold, with just 171 units remaining out of the total unit inventory.
The modern tropical architecture-themed development has posted robust sales since it was launched in December last year and has been one of the top selling projects of DMCI Homes this year along with Prisma Residences, Kai Garden Residences, Fairlane Residences, and Infina Towers.
DMCI Homes Senior Vice President for Sales Florante C. Ofrecio attributed the strong sales of The Orabella to the increasing housing demand in Quezon City amidst projections of property consultancy firms of a double digit hike in office supply until the year 2020.
With its excellent proximity not only to the Araneta Center but also to other business centers such as Eastwood City, Ortigas Center and UP Technohub, the 4,893 square meter-property has attracted young investors banking on potential rental income and fast-rising land values in the former Philippine capital.
“We have observed that more and more young professionals are seeing residential condos as worthy investment vehicles as reflected by The Orabella’s buyers’ profile,” Ofrecio said.
Apart from a flourishing economy,
upcoming big ticket government infrastructure projects in the city such as the
Metro Manila Subway Project are projected to increase the number of inhabitants
to 3.1 million by 2020 from 2.7 million in 2010.