Developer enters serviced residences market » Manila Bulletin Newsbit

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Inside a model unit.

Acknowledging the evolving nature of the real estate industry, developer Ortigas & Company launches The Cirque in Circulo Verde, marking its entry in the serviced residences business.

The 55-unit project is the developer’s latest venture in partnership with one of the largest operators of serviced residences in the country, Hospitality Innovators, Inc. (HII).

“We want to diversify our product range based on the market demands. We see that many buyers are looking for safe, alternative investments and that there is a growing demand for hotel-like products,” Ortigas & Company SVP and COO Thomas F. Mirasol said.

The Cirque was developed by converting 55 units of Circulo Verde’s Seville and Ibiza residential towers to fit serviced residence operations. It will be under the Serviced Residences Program (SRP), where unit owners can enjoy hassle-free ownership of a rental property.

SRP allows unit owners to gain a steady flow of rental income while HII takes care of finding a tenant, maintaining the unit, and paying all expenses.

Currently, the developer is selling its one-bedroom and two-bedroom units with a price range of P4.9 million to P8.5 million, inclusive of the SRP joining fee and furnishing package. Floor sizes vary from 46 sqm to 51 sqm for the one-bedroom unit and loft, while the two-bedroom suite is at 67 sqm.

The units were designed with the goal of making guests feel comfortable and inspired. The use of beautiful and distinct materials such as Ecocarat Japanese breathing tiles that absorb humidity and odors, and Daiken’s textile walls that absorb sound, were at the forefront of the design process to enhance the well being of guests.

Furniture in the units were custom-made to evoke style, function, and simplicity.

The Cirque is targeted towards both the corporate and leisure market.

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