Major Homes’ Space University Belt breaks ground


Space U-Belt Groundbreaking Ceremony

Major Homes recently held the groundbreaking for Space University Belt, a high-rise condominium-dormitory-hotel (condormitel) located along Recto Avenue.

Present during the groundbreaking were (from left): Warren Yu (Senior Partner, WCY Architects), Jeff Yang (landowner), Willie Yu (Principal Architect, WCY Architects), Atty. Mario Oreta, Robert Yang (landowner), Quinto Oreta (President, Major Homes Inc.), Boyet Evanglista (President, GPI), and Engr. Roger Vinluan (Property Management Head, Major Homes Inc.).

Space University Belt is a 38-storey development that offers 1,858 units which shall be fully furnished with three to five beds, a kitchen, toilet and bath, closet and study table. Units range from 14 sqm to 23 sqm. True to the condominium and hotel components of Space, its building features will include a 3-level retail area with dining, convenience stores, cinema, swimming pool, fitness gym, function hall and sky garden.

Occupants’ safety is also assured at Space University Belt, as the building will have 24-hour security and will be equipped with CCTV cameras at common areas and elevator cars. Unit owners will also be provided with security key cards.

Patterned after a sachet business model, units will be rented out on a per bed basis, making it an affordable option to students and professionals. Space University Belt also offers a promising business opportunity to investors looking for passive income through rental yields.

“This momentous event marks the commencement of construction and is also a testament that Major Homes will remain faithful to its promise of upgrading the current dormitory experience of students,” said Major Homes president Quinto Oreta.

Son gladly treads same path taken by father


Quinto Oreta has chosen a parallel but distinct path for himself.

Quinto Oreta has chosen a parallel but distinct path for himself.

In the world of business, following in the footsteps of a successful parent can be daunting.

Comparisons are inevitable, and the pressure for the scion to approximate, match or even surpass the achievements of the previous generation may be intense on both professional and personal levels.

But that doesn’t seem to bother newly minted real estate businessman Quinto Oreta.

In fact, the son of lawyer and real estate developer Mario Oreta seems to revel in walking a path similar to his father’s.

The elder Oreta is president of Alphaland Corp.—a property firm that has had its share of controversies in recent months, but is also known for having turned around the ugliest and longest running eyesores of the Makati City skyline, giving new life to what is now known as Alphaland Southgate Tower and Mall.

The younger Oreta, however, has chosen a parallel but distinct path for himself in managing the family-owned Major Homes Inc.

Build and grow

“I can’t go head on with the big boys of the real estate industry—at least not yet—so we decided to find a niche from which we can build and grow the firm,” says Quinto, who has a Management Information Systems degree from the Ateneo de Manila University and an MBA from Thunderbird School in Arizona.

“So our company’s goal right now is to roll out quality and affordable projects that are aimed at the middle market Filipino buyer,” he says, describing Major Homes’ business model with enthusiasm.

One look at Major Homes’ portfolio of ongoing and completed projects will show that Oreta is not just some glib talker with practiced grad school jargon, but someone who means business.

Condormitels

Major Homes is now a full-service real estate development company with interests and initiatives in affordable housing, middle–income, leisure destination condominium-hotels and—a relatively new concept—the high-rise condominium-dormitory-hotel (or condormitel) business.

The company currently operates 15 projects in and around Metro Manila, and its buyers’ profile exceeds 6,000 individual accounts with more than 50 percent represented by Filipino professionals working overseas.

“We are especially active in overseas Filipino worker communities abroad as they are the one who have the income and the strong desire to invest for their future in real estate back here,” Oreta says.

According to Oreta, Major Homes currently controls a total of nearly 25 hectares of land that can be developed into various property concepts.

This land bank has an estimated aggregate sales contract price of P9.4 billion spread across 15 horizontal and vertical development projects throughout the metropolis.

As of mid-2014, 81 percent of this land bank has already been sold to buyers, leaving the company hungry for more property acquisitions or joint ventures.

The aggregate budgetary cost to complete the company’s projects are estimated at P4.4 billion due for deployment in the next 30 months.

Indeed, the numbers show that the company is small enough to be nimble—if you can call P9 billion “small”—but large enough to be noticed by the market.

So far, Major Homes has, among others, residential and mixed-use projects being built in Lipa City called Lipa Verde; Crescent Knoll in Calamba, Laguna; Ravenna residential development in Mabalacat, Pampanga; Juez Residences in Malabon; and the Monteluce mixed-use complex in Silang, Cavite.

Of its ongoing projects, however, it is the condormitel concept—Oreta’s newest baby—that he is most excited about.

Sold out

In this concept, Major Homes will build high-rise condos in Manila’s University Belt area, and rents out affordable dorm space to college students who need clean, convenient and safe places to stay during their matriculation.

The condos are run by a professional management firm, and their construction is funded by investors who buy units in the development in return for a fixed and regular rental yield on their capital.

“It’s an amazing concept, and is a big hit with our foreign investment market,” Oreta says of the sub-brand dubbed “Space.”

“In fact, the three projects we have (the San Marcelino, Romualdez and University Belt projects) have already been sold out,” he adds.

Going public

The company’s finances reflect the strong demand for its product portfolio. Major Homes posted an asset compounded annual growth rate of 29 percent from 2011 to 2014. During this period, it developed and launched various horizontal and vertical product offerings, amid positive client response.

Major Homes is projected to hit a net income after tax compounded growth rate of 18 percent from 2011 to 2014. Robust sales in 2012 through 2013 mainly derived from the Space condormitel units, coupled with the programmed increase in construction progress for Monteluce units this year, is predicted to help the firm hit its P150 million operating income target for 2014.

And what’s Oreta’s major goal for Major Homes? It is nothing less than to take the company public on the Philippine Stock Exchange—perhaps as soon as next year, depending on market conditions—via an initial public offering.

“Being in this business is demanding work,” Oreta says. “But it’s enjoyable work.”

And as most business gurus will attest, enjoying one’s work is one of the essential elements of success.

Philippine Daily Inquirer

 

 

Major Homes Tops Off Malabon Project


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Major Homes recently topped off building one at Juez Residences located in Maysilo, Malabon.

Purposefully elevated to reduce flood risk, Juez Residences is set to offer a distinct living experience, ideal for those who wish to upgrade their homes to be the ultimate abode for the modern generation.
Juez Residences is the first masterplanned vertical village in Malabon composed of medium rise residential buildings with lush gardens and well-appointed amenities.

Space San Marcelino and Taft Break Ground


 

July 27, 2013 — Space San Marcelino and Space Taft held its groundbreaking ceremonies at their respective project sites.The groundbreaking ceremony began with the blessing of the site followed by the laying of the capsule and the pouring of cement.

Present during the ceremony were Atty. Mario Oreta, Major Homes president Quinto Oreta and architects Terence Yu and Kenneth Uy of Vision Arch Inc.

Strategically located near the University Belt, hospitals, government offices and commercial establishments, Space represents an upgrade from the typical dormitory experience.

PLDT HOME, Major Homes partner to bring future­ready technology to families


Shown sealing the strategic partnership are Quinto Oreta (3rd from left) and Ariel Fermin (4th from left). Also in photo are (L-­R): Gilberto Garcia, Major Homes executive vice president; and Raul Alvarez, PLDT VP and head of HOME marketing support

(From L-­R): Elmer Castro (Head of Engineering and Construction, Major Homes), Gilberto Garcia (EVP, Major Homes), Quinto Oreta (President, Major Homes), Ariel Fermin Raul Alvarez (PLDT EVP and head of HOME business), and Raul Alvarez (PLDT VP and head of Home marketing support).

 

PLDT HOME, the country’s leading provider of advanced communi­ cation and multi­media services, recently entered a strategic partner­ ship with Major Homes, a full­service real estate development com­ pany. The partnership will equip Major Homes’ Space Condormitels in Manila with Fibr, HOME’S most powerful broadband.

Backed by PLDT’s over 71,000 kilometers of future-ready fiber network, Fibr enables seamless, simultaneous streaming of high-definition content in all devices with its high-speed Internet, Clickplay movies-on-demand, and Cignal Digital TV channels.

“Major Homes’ mission is to build happy communities where families live fully in quality living spaces. Our partnership with PLDT HOME allows us to offer more convenience to our unit buyers as moving in becomes easier for them. They will no longer have to undergo the hassle of finding and applying for a multimedia service provider because once they move in, their homes are future-ready,” said Quinto Oreta, Major Homes president.

“Connectivity is increasingly prioritized by those who purchase condominium units, which is natural given that condominiums are designed to offer convenience among its attractions. Unit owners want cable TV, landline, and broadband to be easily available to them when they move in. Through our partnership with Major Homes, each unit is now future-ready and fully connected, making each home a place to make the strongest family connections,” added Ariel Fermin, PLDT EVP and head of HOME business.

Shown sealing the strategic partnership are Quinto Oreta (3rd from left) and Ariel Fermin (4th from left). Also in photo are (L-R): Elmer Castro, Major Homes head of engineering and construction; Gilberto Garcia, Major Homes executive vice president; and Raul Alvarez, PLDT VP and head of HOME marketing support.

Major Homes launches ‘condormitel’ concept


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IN the crowded local real-estate market, innovation is what sets one apart from other property developers. Major Homes is one such innovative new developer that offers a pioneering residential concept called Space—transforming the usual city condominium concept into a more practical investment opportunity and redefining the typical dormitory experience of students and workers in the health and BPO fields. Continue reading

‘Condormitel’ residential concept launched


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MANILA, Philippines – Major Homes calls it the “condormitel” a development with all the advantages of a condominium, dormitory and hotel all rolled into one. Introduced last year, Major Homes’ Space condormitel series features fully furnished units designed as comfortable dorm rooms with a minimum of three beds and a study desk.  The buildings are strategically located in key urban areas of commerce, school, and transport. Space especially provides condo buyers with a strong rental opportunity as a form of investment. Continue reading