Property & Infrastructure
Yuchengco company completes Malayan without ASB Group
It was by the sheer will of its owners that the Malayan Plaza was finally inaugurated on July 22.
View from the top in a split-level unit
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After the ASB group underwent rehabilitation, Malayan Insurance decided to continue the project by its lonesome.
"We really just wanted to finish it because of our commitment to the unit buyers," Malayan Insurance President Yvonne Yuchengco said.
Following the project’s completion, Malayan Insurance is not looking at any new undertaking in the immediate future, she added.
Now 90% complete, the Malayan Plaza along ADB Ave. in Ortigas Center, Pasig City, has sold over 80% of its 450 residential and eight commercial spaces, Quintano & Associates Realty Inc. Chairman Tony S. Quintano told a press briefing after the inauguration. Mr. Quintano’s company manages the sale of the units.
He said many of the buyers work in the Asian Development Bank, which is within walking distance from the condominium, while the other buyers are from offices also within the central business district.
The units are priced from P2 million depending on size. They come in studio, one bedroom, two bedrooms, three bedrooms, and split-level variables. A unit is at least 40 square meters and at most 150 square meters.
Malayan Plaza’s location is its prime selling point, Mr. Quintano said. It is within walking distance to four malls, including the upscale The Podium, which is infront of the condominium.
Malayan Plaza has the regulation swimming pool located in one of the upper floors, as well as a putting green.
It also has a gymnasium with an outdoor whirlpool at the 39th level, a jogging pad at the 40th level, and a helipad at the rooftop.
It has six levels for parking as well, and in cases of water interruption, Mr. Quintano said the condominium can supply clients enough water for two weeks.
Malayan Plaza also has a high-technology security systems. Mr. Quintano said that the building has five video entry security systems covering the lobby, elevators, and ramps.
He added that visitors of unit owners will have to be identified at the lobby through a video phone, which "will prevent any unauthorized entry."
In addition, the building has also taken safety precautions in case of fire. "In case of fire, the fire exits will be pressurized. No smoke can come in. if it does come in, it will be sucked so you can stay in the fire exit."
Malayan is now bidding the contract for the management of the condominium following the sale of all the units.
Mr. Quintano said that all the top management companies have submitted their bids. "We will decide on this in the next few weeks."
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