Setting the record straight on Picar, Amali projects

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We write in behalf of Picar Development Inc. and AMA Land Inc. (Amali) to set the record straight on the developments related to their projects that Conrad Banal wrote about in his column titled “Law and ordeal” (Inquirer, 4/11/13).

Picar is the developer of The Chelsea Residences Alabang, The Stratford Residences and Ara Vista, while Amali is the developer of The AMA Residences.

The Chelsea Residences Alabang: The condominium was launched on Aug. 15, 2012. Fifty-one units of the condo have been pre-sold, as allowed by its temporary license to sell that expired on Jan. 26, 2013. An application for a permanent license to sell is now pending with the Housing and Land Use Regulatory Board (HLURB).  The Chelsea Residences Alabang was issued a building permit on April 2. The excavation of the site has started and an inspection by the HLURB has been scheduled. The permanent license to sell will be issued after the HLURB inspection.

Stratford Residences: We launched the project in 2010 with the intent of building a 74-story structure, the tallest residential building in the Philippines. The delivery date of the project is Dec. 31, 2015, not 2014.

Picar has finished nine floors of the basement level parking and will start the construction of the ground level in May 2013.

The Stratford Residences is part of high-end development projects in Picar Place, which includes the Buddha Bar and the Movenpick Hotel and Serviced Apartments. The 7-star Buddha Bar has been operating since January 2012. The Movenpick Hotel and Service Apartments at Stratford 3 is under construction. The construction of another residential condominium tower will start in 2014 at Stratford 2.

Picar has commissioned the Asian Institute of Technology in Thailand to carry out the structural performance-based evaluation of the Stratford Residences. While the tests required additional time, these have not resulted in any substantial delay.

What caused the substantial delay was the flooding at the project site due to the negligence of the contractor of the adjacent “Milano” project of Century City Development Corp. Picar has filed a criminal complaint for reckless imprudence resulting in damage to property against the contractor of Milano. The case is pending appeal with the Department of Justice.

Ara Vista: This is Picar’s 50-hectare township development project in General Trias, Cavite City. The first phase of the project has been sold out, and so are almost 60 percent of the units in the second phase. A huge clubhouse with a swimming pool and tennis court is finished and the turnover of the completed units is ongoing.

AMA Tower Residences: Work on the property on Edsa is now on the 18th floor. Had we not been slapped with an injunction in 2011, we would have topped off the building by now. The Tower is expected to be completed in September 2013.

—DANILO B. JUGNO,

general manager, Picar Development Inc.

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