By: N. J. C. Morales

CAMPOS-led Greenfield Development Corp. has master-planned its 10.5-hectare prime property in Mandaluyong to become a “future-ready” mixed-use development.

The non-listed property developer wants to build at least 17 high-rise towers -- for residential, commercial and office use -- in the next two property cycles, company executives said in an interview.

For its initial development, the company has launched the P2.5-billion Twin Oaks Place residential condominium that will highlight fiber-optic technology.

“The Greenfield District is [the firm’s] re-envisioning of the prime property into a mixed-use smart and connected city, one which will enable its denizens to be fully connected at all times, in their homes, offices, retail areas and even in the common open spaces,” Greenfield Development said.

The “Fiber to the Home Infrastructure,” which came from South Korea, will allow unit owners to use services such as high-definition videoconferencing, remote thermostat control, mobile entry, curtain control, light control, audio system integration, media hubs, mobile remote control, and real-time video-on-demand.

“The thrust of Greenfield Development now is develop all retail and residential projects on our own. With respect to office and hotel, we are open to partnership and joint venture [with other companies],” said Duane H. Santos, general manager of Greenfield Development.

“We are looking at two property cycles,” Mr. Santos said, adding that the boom-and-bust property cycle in the country usually lasts for at least seven years.

“I really believe this is the future. Developers are ready to spend for [the technology] or give it as part of the development to the buyers,” Greenfield Development Chairman and President Jeffrey Campos told BusinessWorld.

Twin Oaks will offer the first three storeys to commercial establishments. 

The remaining 38 floors will be for 31 to 35-square-meter (sq. m.) studio and premium studio units and 39 to 47-sq.-m. one-bedroom units.

Mr. Campos said the P2.5-billion Twin Oaks will have a total 750 units.

Mr. Santos said the Twin Oaks residential condominium units will initially be sold at a price range of P103,000 to P128,000 per sq. m. 

The fiber-optic technology will cost the company an additional P75 million to P90 million, he added.

“Considering our price points, the typical customer would be earning a combined P100,000. Overseas Filipinos are a key component to our market,” Mr. Santos said.

Greenfield Development, established in 1971, has completed projects like the Ayala Greenfield Estates, Greenfield City Sta. Rosa, EDSA Central near the Metro Rail Transit 3’s Shaw Boulevard station, the Paseo Commercial Complex, the Sta. Rosa Country Market, and Manila Southwoods.

Source: http://www.bworldonline.com/main/content.php?id=22574