Ascott has partnered with boutique real estate developer Keyland Corporation on the glass-clad, 32-storey Citadines Makati wherein buyers of the 160 serviced residences can choose between an investment where the unit becomes part of Citadines, rented out to mostly long-staying corporate clients, or as a private residence.
Keyland is only five years old, but has developed office buildings in the country’s leading CBDs and mixed-use and residential condominiums and has gained several development awards.
Ascott Limited regional general manager Arthur Gindap describes the business model of 110 Benavidez as unique to Makati. “There’s a 15-year lease back agreement, so if you buy a serviced residence, it will be in the Citadines pool for 15 years. After that, if you want to use it yourself, the unit will still be in pristine condition and the value is preserved.”