Picar to develop residential condominium project in Philippines

Picar Development, the real estate subsidiary of AMA Group of Companies, is planning to invest P1.7bn ($40.5m) for the development of a residential condominium project in Alabang, Muntinlupa City, Philippines.

The 32-storey tower called Chelsea Residences, will have 696 residential units that are estimated to be sold between P2.2bn ($51.9m) to P2.6bn ($61.3m).

Chelsea Residences will be situated on a 1,400m² property on Buencamino St., Alabang, and will offer studio and one to three-bedroom apartments, plus four penthouse units.

The two-bedroom penthouse units will have an area ranging from 96m² to 108m² while the three-bedroom penthouse units will be ranging from 187m² to 195m².

Picar general manager Danilo Jugno said that the company is likely be able to sell all available units in a year's time.

"We have a client who wants us to build, and they will rent it out," Jugno said.

"Taking the concept of smart modern living to a whole new degree, the Chelsea Residences WiFi-enabled accessibility is one among the many value-added state-of-the-art services that establish the structure as the first residential intelligent building in Alabang."

Construction of the project is anticipated to commence by 2013 and units will be ready for handover to buyers by 2016.

Picar Development earlier revealed plans to spend over P60bn ($141m) in several real estate projects over a period of ten years.

Picar's projects include condominiums, hotels, offices, commercial establishments and mixed-use communities.

Chelsea Residences Floor Plans

Situated in the heart of Alabang, The Chelsea Residences along Buencamino Street, is set to define integrated, mixed-use living experience in a LIVE + WORK + PLAY environment.

The Chelsea Residences is the first-ever intelligent residential building in the south. Its pioneering features include technologically advanced safety and security services designed by the US-based, worldwide networking leader, Cisco Systems Inc. and 24/7 WI-FI connectivity.

Reinventing the condo living experience, selected residential units will have balconies or gardens with more spacious living areas : 24-30 square meter studio units, 35 to 47square meter 1-bedroom units, 56 to 78 square meter 2-bedroom units and 186 to 195 square meter 3-bedroom penthouse units.

Chelsea Residences Floor Plans

One Bedroom A With Garden Unit

One Bedroom AF With Balcony Unit

One Bedroom AF Unit

One Bedroom B With Balcony Unit

One Bedroom B With Garden Unit

One Bedroom B Unit

One Bedroom C With Balcony Unit

Two Bedroom A Unit

Two Bedroom B With Balcony Unit

Two Bedroom B With Garden Unit

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The Chelsea Residences Project by Picar Development Inc

The Chelsea Residences

Project by Picar Development Inc

Condominium for Sale in Muntinlupa City, Philippines

The Chelsea Residences is a mid-range, 32-Storey, mixed-use residential and commercial condominium development strategically located in Alabang, the most progressive business district in suburban south. With 5 basement levels for parking.