Arthaland sees P6B sales from ‘ultra-luxury’ condo project

Listed property developer Arthaland Corporation is banking on the growing demand for high-end and luxury real estate, amid the ongoing oversupply issue in mid-market condominium segment.

On Thursday, Arthaland launched its Eluria vertical residential ultra-luxury project located in the Makati Central Business District.

The project broke ground last November 2024 and is expected to be completed in the fourth quarter of 2025.

The Eluria tower would feature one to two units per floor, a total of 37 units, “limited edition residences.”

At a media roundtable in Taguig City, Arthaland senior vice president Oliver Chan said the company is “expecting P6 billion in sales.”

Chan said a unit at Eluria costs about P150 million to P400 million.

He said about 50% of the 37 units of Eluria have already been sold.

Amid the ongoing oversupply of condominium units following the exit of Philippine Offshore Gaming Operators (POGO), the Arthaland official said the company’s ultra-luxury project is “detached from it,” noting that the supply glut affects the mid-market property segment.

“Eluria has garnered an excellent response from the market, with more than half of the units already reserved,” said Chan.

Arthaland is also planning to develop three residential projects this year, according to its executive vice president Christopher Narciso.

Narciso said the new projects will be located in Makati City, Quezon City, and Laguna.—LDF, GMA Integrated News