Trump Tower pre-sold 94 percent of units
The sales target for The Trump Tower has exceeded expectations, according to its developer, Century Properties Group (CPG).
An upmarket condominium, Trump Towers is packaged under the brand of celebrity businessman Donald Trump and his headquarters, Trump Tower, in New York City.
Trump Tower in NYC is best known as the site of Trump's reality shows, The Apprentice, and its variant, The Celebrity Apprentice.
CPG, a high-end developer of condominiums and mixed-use communities, issued that Trump Tower has pre-sold up to 94 percent of its units, and two years before the project's completion, at that. Construction is currently at the 27th floor, as of January 2015.
The Tower has over 250 units totaling P6.13 billion in projected sales value, CPG stated in a disclosure to the Philippine Stock Exchange. The sky-high figure marks the development as among the most expensive in the country and in Southeast Asia, according to the firm.
Donald Trump himself has praised CPG, saying, "We would like to congratulate our great partners, Century Properties Group, on this very exciting accomplishment."
"Together, we have done something very special and this fantastic property will set the standard of luxury and quality in the Philippines and beyond," Trump continued.
In turn, CPG's Jose E.B. Antonio, CEO, commended their high-profile partner.
We thank the Trump Organization for putting its confidence in the Philippines and for trusting Century Properties to execute this project," stated Antonio. "Putting a Trump Tower in the Philippines is Centurys contribution to making Metro Manila an international destination."
According to the firm, majority of buyers consisted of high-net-worth Filipinos and foreign nationals.
"We are overwhelmed by the response from the market to the Trump Brand and are grateful, as this now affords the city one of the most luxurious buildings in the world, comparable to the city centers of New York, Hong Kong, and Singapore," said Antonio.
Situated in CPG's eponymous township in Makati, Century City, Trump Tower is slated for completion in 2016. It has 56 floors, one- to four-bedroom units, suites, and two- and three-bedroom duplexes ranging from 60 to 400 square meters. Amenities include a plaza and water feature at the facade; a grand lobby; a pool; a spa and a lounge; a video room and library; a fitness center; and a business center and meeting room.