Any news about the Marina Spatial development?

We drive by on a regular basis on our way downtown. the first two floors of the main residential tower are poured (saturday july 15). The third floor cement forms are in place for imminent pouring... The "ocean view" shoeboxes were "sold out" four months ago, but an acquaintance bought a "mountain view" about two months ago.

 

They won't will be built until 2020 (mountain view)

 

Hi, sorry but the L-shaped first tower now under construction has two wings, one parallel to the waterfront and the other along E.J.Blanco Drive. I'm pretty sure there are units on both sides of every floor along a central hallway, thus "ocean view" and "mountain view"....

check out the farcebook page for building orientations..

 

Oh, your talking about Building A. I was thinking building B the block at the back. Didn't read your post properly.

 

Go by almost daily, windows in, looks like only a couple more months... Curious if anyone actually bought in there, barely room to move, one, maybe two windows, only a couple balconies on the middle of the top floor. Cheap, but what else ? big mall goin in on your front yard, several stories.. Have fun....

 

I think it sold out (or most) very quickly .... I enquired a year ago and all those with a sea view had gone. But you are correct that there will many buildings in front, including an hotel and a retail (and/or commercial?) park.

I notice the comparison with the block of Condos at the south end of the Boulevard, which started much sooner but still looks an empty shell. When I enquired there almost 2 years ago I was told that the price was not guaranteed and I would have to pay any price rises which occurred after I agreed to buy!!! When I pointed out I felt that was unfair, the sales lady (who obviously had no idea how to rub a customer up the right way ) replied "But you can afford it". I am pleased I did not make an agreement to pay an unknown price for a property which looks like it will be finished in the next century.

 

Would be very curious if they really sold out, or were just being "held" for special folks or until they can raise the prices on sea view... Love the "..but you can afford it," where did those folks learn marketing ? Strikes me as the similar marketing as ".. I think i'll save money by not investing in inventory, even tho "out of stock" drives the foreigners nuts," so they never come back to the worst offending businesses...

 

The problem with a condomium corporation in Philippines is that it must be 60% owned by filipinos IF the condo corp owns the land And building. This means the builders often round up the usual buyers, who are wealthy filipinos with cash, and give them extremely good prices on the first half of the units. This gives the condo corp cash to build with, it gives the fillipino buyers some great deals, and guess which units they want to buy?

If the condominium corporation is set up to own the building only, on leased land, then it can be 100% foreigner owned. If all the sea view units are gone before the units come up for sale to foreigners then this is probably the former kind of condo corp.

All this info is searchable on the ChanRobles law site but I could not be bothered to go find the links

 

I spoke with a filipino gentleman whose relative (mother or aunt, I forget) bought one unit. They found that small as it is, it was still smaller than the advertised measurements. We speculated that the advertised room measurements may have begun with the outer wall of the building. Or perhaps it was an error or conversion from meters to feet.

 

Quite common issue that the measurements are done at outside or in the middle of the walls instead at inside. Correct measurement is done to measure outside, the walls and the inside.

@OzeMike what is here so abhorrent? In europe it is standard to measure the walls separately.