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Frequently Asked Questions

Mabuhay!

Thank you for your interest in our Soho Central project. Please find below some information which you may find useful.

Project Details:

Soho Central is located near the corner of Edsa and Shaw Blvd., in Mandaluyong City. It is just across Shangri-la Plaza Mall and is walking distance to Megamall, St. Francis Church, and other establishments in the Ortigas area. The project is a joint venture between Meridien Development Group [Developer of Essensa, considered to be the best residential building in the Philippines] and Greenfield [the property arm of Unilab – the country's largest pharmaceutical company]

The project will be the first residential condominium that will be built on the 24-hectare Greenfield District – a 24 hectare area that is being redeveloped into a modern masterplanned city.

The first two levels of Soho Central will be a mall, the third level will be gym and spa area. The 4th level will house the podium which contains the lap pool and kiddie pool.

The 5th to 35th floor will be residential units.  All units have balconies by which owners can enjoy spectacular views. Aside from this, all units come complete with:

- complete kitchen cabinetry

- tiled bathroom with fixtures

- laminated flooring for the living room

- carpet for the bedrooms

- mirrored sliding closets

- rangehood

Building Amenities:

 

- First class health, spa and Gym

 

- lap pool

 

- Laundry and Dry Cleaning services within the premises

 

- Function rooms and Business Center

 

- Resident's Lounge

Completion Date:

Soho Central is composed of two towers – the Shaw Tower [facing Shaw Boulevard] and the Mayflower Tower [facing Mayflower street]. Only units at the Shaw Tower are currently being offered at this time. The Shaw Tower is expected to be completed by the 3rd quarter of 2009, or earlier.

Our other sister project, the Bel-Air Soho in Makati has about 8 units left and is set to complete by the end of 2006.

Sizes and Average Prices for Units:

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Below is a breakdown of the unit sizes that can be seen in the floor plan. In the last column are the average unit prices. Please take note that these are average unit prices, and that they can go up or down depending on the floor level within the building. The prices below approximately correspond to the prices of the 20th floor, so floors below the 20th floor will have lower unit prices than the average prices shown below, while floors above the 20th floor will have higher unit prices.

Typical Floor Plan

Unit Number

Unit Size

Type

Average Price [Pesos]

Average Price [Dollars]

1

43.85

1-BR

P3,069,500

$54,812.50

2

31.64

1-BR

P2,214,800

$39,550.00

3

30.71

1-BR

P2,149,700

$38,387.50

4

30.71

1-BR

P2,149,700

$38,387.50

5

30.71

1-BR

P2,149,700

$38,387.50

6

43.11

1-BR

P3,017,700

$53,887.50

7

45.33

2-BR

P3,173,100

$56,887.50

8

64.38

2-BR

P4,506,600

$80,475.00

9

30.71

1-BR

P2,149,700

$38,387.50

10

30.71

1-BR

P2,149,700

$38,387.50

11

30.71

1-BR

P2,149,700

$38,387.50

12

30.71

1-BR

P2,149,700

$38,387.50

14

30.71

1-BR

P2,149,700

$38,387.50

15

30.71

1-BR

P2,149,700

$38,387.50

16

30.71

1-BR

P2,149,700

$38,387.50

17

30.71

1-BR

P2,149,700

$38,387.50

18

64.38

2-BR

P4,506,600

$80,475.00

 

Payment Terms:

SOHO CENTRAL

 

 

Master table of all payment terms, effective April 1, 2005

 

 

Based on price list of August 1, 2005 only

 

 

 

 

 

 

 

 

 

Option

Option Description

Shaw Tower

Mayflower Tower

 

 

1

*

10% Downpayment, payable in 3 months

 

 

 

 

 

*

0.40% every month for 60 months, to start

4.50%

4.50%

 

 

 

 

1 month after downpayment [dp]

 

 

 

 

 

*

8% balloon payment every year [5 payments]

 

 

 

 

 

*

26% upon turnover

 

 

 

 

1b

*

10% Downpayment, payable in 9 months

 

 

 

 

 

*

0.40% every month for 60 months, to start

 

 

 

 

 

 

1 month after downpayment [dp]

2.00% discount

1.50% discount

 

 

 

*

8% balloon payment every year [5 payments]

 

 

 

 

 

*

26% upon turnover

 

 

 

 

2

*

10% Downpayment, payable in 3 months

 

 

 

 

 

*

0.40% every month for 60 months, to start

 

 

 

 

 

 

1 month after downpayment [dp]

5.50% discount

5.50% discount

 

 

 

*

4% balloon payment every 6 months [10 payments]

 

 

 

 

 

*

26% upon turnover

 

 

 

 

3

*

10% Downpayment, payable in 3 months

 

 

 

 

 

*

60% payable in 60 months via equal monthly

5.50% discount

5.50% discount

 

 

 

 

amortizations, to start 1 month after dp

 

 

 

 

 

*

30% upon turnover

 

 

 

 

4

*

20% Downpayment, payable in 3 months

 

 

 

 

 

*

50% payable in 60 months via equal monthly

8.00% discount

8.50% discount

 

 

 

 

amortizations, to start 1 month after dp

 

 

 

 

 

*

30% upon turnover

 

 

 

 

5

*

20% Downpayment, payable in 3 months

 

 

 

 

 

*

70% payable in 60 months via equal monthly

 

 

 

 

 

 

amortizations, to start 1 month after dp

11.00% discount

12.50% discount

 

 

 

*

10% upon turnover

 

 

 

 

6

*

30% payable in 12 months

 

 

 

 

 

*

70% upon turnover, or via bank financing.

3.00% discount

0% discount

 

 

7

*

30% payable in 30 months

 

 

 

 

 

*

70% upon turnover, or via bank financing.

0% discount

plus 3.50% from price list

 

 

8

*

Cash in 30 days

25% discount

27% discount

 

 

 

 

 

 

 

 

 

9

*

Cash in 60 days

24% discount

26% discount

 

 

 

 

 

 

 

 

 

Notes:

 

 

 

 

 

 

 

1

Notwithstanding any payment term chosen, all outstanding balances are payable upon issuance of turnover notice.

 

2

All  local & international buyers are required to submit post dated-checks covering the downpayment, monthly

 

 

amortizations, balloon payments and turnover.

 

 

 

 

 

3

Shaw Tower expected turnover is December 2009. Mayflower expected turnover is December 2010.

 

 

4

For international clients who wish to avail Option 8 Discount rates, foreign check must be given immediately

 

 

[no more reservation fee], as there is a 30-60 day clearing time for U.S. and other foreign checks.

 

 

 

 

Otherwise, discount of Option 9 shall apply.

 

 

 

 

 

Should you need further help and/or guidance in understanding the above figures, please do not hesitate to contact us.

 

Unit Availability and Sample Computation:

Kindly contact us to request information on available units and sample computation that details any of the above payment schemes.

 

Reservation Fee:

A P25,000 reservation fee is needed to hold the unit in behalf of a buyer. This will be deducted from the first month's downpayment.

 

Maintenance Fees and Association Dues:

Our estimate of the maintenance fees amount to 75 pesos per square meter.

 

Parking Slot:

Soho Central has limited parking slots available. Thus buyers are urged to purchase parking slots now before they run out. Unit owners have the option to avail a parking slot at P500,000 per slot. This is not included in the total unit price.

 

How To Purchase A Unit:

For buyers based abroad, below is our simplified procedures for purchasing a unit:

  1. Buyer selects an available unit in coordination with us
  2. A Pro-forma document is prepared by our office that details the unit, price and payment terms. This pro-forma is then sent to the buyer.
  3. If buyer is agreeable to the terms, dates and amounts specified in the pro-forma, buyer remits a P25,000 reservation fee [or its equivalent in foreign currency] to hold the unit in his or her behalf. See instructions below for details on how to go about remittance.
  4. Once amount is received by our company, Century Communities, we shall hold the unit for you. A Reservation Agreement and Buyer's information sheet are then sent to the buyer.
  5. Buyers then signs on the reservation agreement and fills up all data in the buyer's information sheet. These documents must then be FEDEXed back to Century Communities for proper notarization and recording.

Buyers based abroad can send their payments via bank transfer. Century Communities maintains both dollar and Peso accounts.

Where to Remit Payments:

You can remit payments to the following bank accounts. Please refer to the REMITTANCE OPTIONS below. 

 

Additional information for bank remittances:

a) Monthly dollar payments should be remitted to either Century Properties Inc's [CPI] Export-Import Bank Account, or Century Communities [CCC] PNB account, which shall then be converted to pesos at the exchange rate of the day the amounts are received by the bank.

b) The amount credited towards the purchase of the unit shall be the net amount received by our company, after bank charges for remittances.

c) To make sure that CPI receives the proper amount, pls add $5.50 for Philippine telegraphic transfer charges and any other amount that your bank may charge you [ranges from $5-$15 depending on your bank].

d) Kindly send us a confirmation receipt once bank transfers monies already, so that we may monitor the incoming transfer. You can fax us the confirmation receipt at 632-8990584.

e) Should there are any differences in the dollar-peso exchange rate, any over or under payment will be reconciled at the last payment [for example, month 60 in the case of Soho Central].

 

Filipinos Abroad:

Filipinos away from home who want to invest their money in real estate would do well in familiarizing themselves with the laws that govern land acquisition in the Philippines as stated in the Constitution. There is no better way to secure a bright future than to have a place of your own here at home. Here are some facts that you will need to know before you proceed with any transaction and buy your dream house in the Philippines.

  • Only Filipino citizens and corporations and associations at least 60% of whose capital is owned by Filipinos may acquire private lands.
  • Foreigners are allowed to purchase a condominium unit, provided that total foreign ownership of the condominium corporation does not exceed 40 %. They may also inherit real property from their deceased Filipino spouses or parents.
  • Children born to a Filipino parent, whether legitimate or illegitimate, may inherit the property of the Filipino parent, even if the child is not a Filipino citizen.

Filipinos who lost their Filipino citizenship will remain the owners of any property they have acquired before changing nationalities. A natural-born Filipino citizen who has lost his Philippine citizenship may be a transferee of private land up to a maximum of 5,000 square meters in the case of urban land or three [3] hectares in the case of rural land. In case he already owns urban or rural land, he shall still be entitled to be a transferee of additional urban or rural land, provided that when these are added to those already owned by him, the aggregate area shall not exceed the said maximum areas.

Owning property in the Philippines can be the wisest investment anyone can make. No matter where you fly, there will come a time when you will want to go back to your roots or introduce loved ones from foreign lands to the beauty of the Philippines. Find the best location that will suit your lifestyle and budget.

 

Viewing of Model Units:

If you have relatives or friends here in the Philippines and you want them to see the model unit on your behalf, kindly give them our contact no. and we will schedule them for site viewing.

If you are interested and need more information regarding this project you can reach us through the following contact points:

Mobile No: +63919 7937868/+63918 2891257 / +63920 9061534

Home No: [632] 8990584

e-mail address:

antoniomadrigaljr@yahoo.com.ph

madton78@yahoo.com

lovellemayrufino@yahoo.com.ph

lovellemay@yahoo.com

rufinolovellemay@yahoo.com

 

Click here to view Remittance Options.

CANYON RANCH
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SOUTH OF MARKET
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BEL-AIR SOHO
soho_bel-air.jpg

Visit our other projects / website:

http://madtonmanila.tripod.com

 

by lmer