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The Rise Makati is a 63-storey mid-market residential and commercial development that celebrates world-class architecture and interior design.
It features 82,000 square feet of amenities, and a two-storey mall with 50 tenants consisting of about 41,000 square feet of retail space.
The 3,044 unit development is divided into three wings converging in a central core..
Each floor will have 55 units, but will only have between 17 to 21 units per wing while 18 lifts will service the development.
-A reservation fee of P50,000 (approximately SG$1,276 is needed to reserve a unit.
-A minimum down payment of 10% is required upfront and will be due 30 days from Reservation Date.
-Foreigners cannot open a local bank account (unless they have a local company, partnered with a Filipino) or secure a loan if they are not based in the Philippines. If they choose to take a loan, it would have to be with their own bank in their home country using their own property there as collateral.
-Local banks also do not allow (even local) buyers to use their purchased unit/s from a pre-selling project, as collateral when they opt to get a bank loan. Bank financing normally comes in when the project has already topped off in the construction stage.
The developer has the right of first refusal if resale is made prior to the turnover of the unit. A transfer fee of P150,000 (about SGD 3,800) is charged when transferring ownership rights prior to turnover. Ownership of foreigners is limited to 40% of the total development.
