CRESENT PARK RESIDENCES 7TH BUILD TO OWN PROJECT OF G & W ARCHITECTS @ THE FORT GLOBAL CITY
G & W ARCHITECS has launched their 7th build to own condominium development in Bonifacio Global City, and will be completed in 2 short years (Turnover date: 3rd quarter 2010)! Rising 28 storey is situated in Crescent Park, Burgos circle and the best area in Bonifacio Global City; Sandwiched between Manila Golf and the 2.7 hectare Crescent Park.
CRESENT PARK RESIDENCES has launched due to the high demand in Build to Own (BTO) units in Bonifacio Global City. Build-To-Own (BTO) projects are the ONLY development in the Philippines that provides U.S.A. way of PROTECTING HOMEBUYERS, through the use of an Escrow Bank. All unit owners deposit payments directly to a depository and disbursement bank, which ensures that the fund will only be used for its intended purpose, which is to build the new tower.
History of Build To Own in Bonifacio Global City
The first one was Penhurst Parkplace, which only took 20 months to build and was turned over to unit owners last July 2004. The 2nd BTO project is Kensington Place which is already finished and has already been turned over to unit owners last August 31, 2006. The 3rd BTO project is Grand Hamptons - Tower 1 (formerly named Hamptons Place) which is under construction and will be turned over on December 2007. The 4th BTO project is The Grand Hamptons - Tower 2, which will have its groundbreaking on October 11, 2006 and will be turned over on December 2008. The 5th is the Sapphire Residences and now its full swing of construction and will turnover by 2009 2nd quarter. The 6th is the Blue Sapphire and now its ground breaking and will turnover by last quarter of 2009 the All six (6) BTO projects are fully subscribed (ie, sold out).
Due to the high demand for BTO projects which provide GOOD VALUE FOR MONEY for investors and end-users, the 7th BTO Tower, The new project will launch.
Through Build to Own direct cost, one can save 40% by directly hiring the same construction industry professionals that developers hire to design and build their projects. 40% savings is realized by eliminating the Middleman Developer's profits, overhead, interest expenditure, and other non-building related costs.
BTO projects have significant savings. Since this is a Build-To-Own (BTO) Project, condo buyers will NOT pay for the 12% Value Added Tax (VAT), All these translate to costs savings for the buyer. Other condo projects require you to pay these taxes upon condo turnover. For BTO projects, you will only pay the registration fees, and your share in the legal fees for forming the Condominium Corporation.
Aside from cost savings, investors and end-users of BTO projects are rewarded with a high quality condominium development with first-class finishes and quality property management services. All these add up to better property values for your condominium investment.
As a unit owner of new project, all your post dated checks are payable to Banco De Oro which is the depository and disbursement bank. With regard to project construction, there will be strict instructions that all funds will go to the project alone and are not to be used for other purposes. Banco De Oro will then disburse the funds to the construction team based on construction progress.
The managing and development consultant for the project is G&W Architects, which was established in 1971. G&W is involved in the following real estate developments: Insular Life Corporate Centre in Alabang, SM Bicutan Annex C & D, Texas Instruments expansion in Baguio City, SM Supercenter Sucat Annex, Robinsons Bacolod, Manila Diamond Hotel, etc. G&W has also done projects in Marriott Hotel in Vietnam, Hongkong, Xiamen, China.
Location
Prime location of new project is in the Crescent Park West and Burgos circle of Bonifacio Global City, which is designed specifically for Residential Unit Purposes. The new project is located just meters away from the new St. Luke's Medical Center, and right across the Gloria Jean's Coffee Shop, Pancake House and the PS Bank Centre. This project is literally steps away from retail and recreation establishments in Bonifacio Stopover commercial complex (Starbucks Coffee Shop, Jollibee, Chow King, 7-11 Convenience Store, BPI Family Bank, Bruno's Barber's Shop and many more!).
