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SOUTH OF MARKET - Frequently Asked Questions Sheet (FAQ)
Mabuhay!
Thank
you for your interest in South Of Market. For your easy
reference, please find hereunder a Project Brief that answers
the most Frequently Asked Questions.
SOUTH OF MARKET PRINCIPLE You don't have to be rich to live at the Fort. Just
very smart.
STRATEGIC LOCATION South of Market (SoMa), a 39-storey twin-tower first-class residential development
that is strategically located within the new commercial hub of the Fort Bonifacio Global City. Situated at the
corner
of thee 26 th and 11 th streets, SoMa is about a block away from the newly-opened Market! Market!, the country's newest shopping
mall.
SMART LIVING From the developers of Essensa East Forbes, judged by Asiaweek as the best residential building
in the Philippines, SoMa is considered the exceptional, logical choice in condominium living.
SoMa has been carefully
planned with condominium users in mind. All units are corner units with balconies, allowing for unobstructed, spectacular
views from all bedrooms and living areas.
Additionally, with all units coming in fully-fitted and completely furnished,
living starts with units are turned over. No messy outfittings. No time wasted buying appliances and fixtures.
It's
the new way of owning a condo.
EXCEPTIONAL VALUE SoMa's unit prices start at P2.9 Million and come with very
attractive payment terms. Luxury suites are offered in 1 to 4 Bedroom configurations ranging from 39 to 230 sq.m., using a
low density
floor plan.
Under SoMa's unique co-development approach, residents become co-investors, instead of merely
buyers. This approach allows residents to save approximately 12% on VAT, Doc Stamps and
transfer taxes, versus any
other condominium in the country. Availing of a SoMa luxury residence allows you
to get the most value out of your hard earned money. Please refer to the section below for more details on the co-development
concept.
Please see our summary of units form for an indication of the sizes and prices of typical units.
In
addition, you may click on our sample computation form to see various payment options and their corresponding discount rates.
FULLY FITTED & COMPLETELY FURNISHED
Each SoMa unit is delivered with the following:
- Air-conditioning
in each bedroom
- Kitchen cabinetry
- Refrigerator
- Cooktop, Rangehood, and Microwave
- Washing machine
-
Sony flatscreen TV
- DVD player
- Entertainment Sound System
- Dining room set
- Living Room set
- Bedframes
for each bedroom
SoMa residents shall enjoy the comforts of condominium living with well-planned
amenities such as:
- A THX theater movie room
- Function rooms and owner's lounge
- A Swimming pool, locker
rooms
- fully-equipped gym with personal trainer
- Concierge and Doorman-assisted
entry
- Automatic membership with the SOHO Club.
The Soho Club is a private membership club open to residents of select Century
developed condominiums. Member benefits include various perks, privileges and discounts to select merchants around the area.
NEARBY ATTRACTIONS Over and above the comforts of well-planned amenities within the building, SoMA provides
you with accessibility to the following:
Shopping Market! Market!, PriceSmart, Glorietta, Rockwell, MC Home Depot,
San Antonio Arcade, Rustan's Supermarket,
Schools International School, Japanese School, British School, Victory
Learning Institute, Makati Gospel Church, Assumption, Collegio de San Agustin, Summit School
Leisure Manila
Polo Club, Manila Golf, Sports Kamp, Fitness First .
Restaurants Le Souffle, Minggoy's, Good Earth, Trio, Zong, Pasto, McDonald's,
Jollibee, Pancake House, Gourmand, Go Nuts Donuts, UCC, Starbucks, Trio, over a dozen more restaurants at the Fort and Bonifacio
Stopover.
Hospital St. Luke's Medical Center (soon to rise), Mercury Drugstore at the San Antonio Forbes Plaza
Church
Santuario de San Antonio
ESTIMATED PROJECT COMPLETION DATE
December 2007
NOTE:
The present laws of co-development do not require co-owners to pay VAT, Documentary Stamp and transfer taxes. However, if
the laws are amended by the government in the future, the project proponents will not be liable for said taxes.
WHAT IS THE CO-DEVELOPMENT CONCEPT?
A cooperative (COOP) approach
Proven concept in the United States and Europe
Clients become
co-developers instead of buyers
Clients become investors in the corporation that will develop the project Units are VAT,
documentary stamps and transfer taxes free. This equates to 12% savings vs. any other condominium in the country.
Funds
go into a collective depository and disbursing account for better financial management
A BALIKBAYAN'S GUIDE TO BUYING REAL ESTATE IN THE PHILIPPINES
Filipinos
away from home who want to invest their money in real estate would do well in familiarizing themselves with the laws that
govern land acquisition in the Philippines as stated in the Constitution. There is no better way to secure a brighter future
than to have a place of your own here at home.
Here are some facts that you will need to know before you proceed with
any transaction and buy your dream residence in the Philippines :
Only Filipino citizens and corporations and associations
at least 60% of whose capital is owned by Filipinos may acquire private lands. Foreigners and balikbayans may purchase condominiums
provided the distribution of ownership of the whole project is maintained at 60% Filipino and 40% Foreigner Children born
to a Filipino parent, whether legitimate or illegitimate, may inherit the property of the Filipino parent, even if the child
is not a Filipino citizen.
HOW TO AVAIL OF A UNIT
VIA THE CO-DEVELOPMENT CONCEPT:
For Clients based in the Philippines:
Your
servicing Solicitations Manager shall assist you in project viewing, selection, and closing of Unit, collection and documentation
of purchase, and after-sales requirements.
Once you have chosen a Unit, a Pro-forma covering Unit details, Total Contribution
Cost for the specific unit, and Contribution Terms shall be prepared by your Solicitations Manager. This Pro-forma, in triplicate,
shall then be sent to you for confirmation together with a Co-Developer's Information Sheet for your completion. Upon signing
the Pro-forma, kindly retain a copy for your file and return the remaining two (2) copies to us together with a P 50,000 check
payable to CENTURY PROPERTIES, INC. as initial reservation contribution and the completed Co-Developer's Information Sheet.
(For provincial clients, all documents must be sent to us via courier service (Aboitiz, FEDEX, UPS, DHL)
Once we receive
your signed Pro-forma, completed Co-Developer's Information Sheet and Reservation fee, the Unit shall be reserved under your
name. We shall then send you a Reservation Commitment for your signature together with the Acknowledgement Receipt for your
signature.
Upon signing the Reservation Commitment, please return the same to us for our Officers to sign and for notarization,
together with your complete post-dated checks to cover your monthly contributions. Once this is done, we shall send you a
copy of said document and an Acknowledgement
Receipt. Upon full completion of the Initial Contribution and submission
of complete post-dated checks, a Construction Management and Coordination Contract shall be prepared and sent to you for your
signature. Upon signing, please return all copies to us for us to sign and notarize. We shall
send you a copy as soon
as this is notarized.
For Clients based abroad:
Your
servicing Solicitations Manager shall assist you in project viewing, selection, and closing of Unit, collection and documentation
of purchase, and after-sales requirements.
Once you have chosen a Unit, a Pro-forma covering Unit details, Total Contribution
Cost for the specific unit, and Contribution Terms shall be prepared by your Solicitations Manager. This Pro-forma, in triplicate,
shall then be sent to you for confirmation together with a Co-Developer's Information Sheet for your completion. Upon signing
the Pro-forma, kindly retain a copy for your file and return the remaining two (2) copies to us together with a P 50,000 check
payable to CENTURY PROPERTIES, INC. as initial reservation contribution and the completed Co-Developer's Information Sheet.
(For provincial clients, all documents must be sent to us via courier service (FEDEX, UPS, DHL)
Once we receive your signed
Pro-forma, completed Co-Developer's Information Sheet and Reservation fee, the Unit shall be reserved under your name. We
shall then send you a Reservation Commitment for your signature together with the Acknowledgement Receipt for your signature.
Upon signing the Reservation Commitment, please return the same to us
for our Officers to sign and for notarization. Using
the schedule of payments stipulated in the Reservation Commitment, you may now remit your monthly amortizations as per the
guidelines on bank remittances.
(Please refer to instructions below for procedures on bank remittances.) We would appreciate
receiving an email from you regarding details of each remittance for proper booking of payments. Upon full completion of the
Initial Contribution and submission of complete post-dated checks, a Construction Management and Coordination Contract shall
be prepared and sent to you for your signature. Upon signing, please return all copies to us for us to sign and notarize.
We shall
send you a copy as soon as this is notarized.
WHERE TO SEND DOCUMENTS:
CENTURY PROPERTIES, INC.
21/F Pacific Star Building
Sen.
Gil Puyat corner Makati Avenue
Makati City 1200
Attention: Your Servicing Agent
Position
WHERE TO REMIT PAYMENTS:
You can make payments through the following banks. Please choose only
one.
- 1 -
Bank: Philippine National Bank
Branch:
Gil Puyat
Address: G/F Petron Plaza Sen. Gil Puyat Avenue,
Makati City, Phils.
Account
Name: Century Communities Corp.
Account No.: Phil. Pesos SA No. 265-601298-9
Swifft Code: PNBMTHMM
Telephone
No.: (632) 886-3377
Attention: Ms. Marie Dimaano
Incoming Charges: US$ 5.50
- 2 -
Bank: Equitable PCI Bank
Branch:
Pacific Star
Address: G/F Pacific Star Bldg. Sen. Gil Puyat corner Makati Avenues, Makati City , Phils .
Account
Name: Century Communities Corp.
Account No.: 2279-01077-1
Swifft Code: PCIB PHMM
Telephone
No.: (632) 811-5939 / (632) 811-5225
Attention: Tony Fortunato
Incoming Charges: $10 bank correspondence,
1/8 of 1% (.00125) of amount
over $10,000
- 3 -
Bank: RIZAL COMMERCIAL BANKING CORP.
Branch: Ayala
Ave.
Address: Ground Floor Yuchengco Tower 1, RCBC Plaza Ayala Ave. Makati City
Account Name: Century
Communities Corp.
Account No.: 3-001-01290-7
Swifft Code: RCBC PHMM
Telephone No.: (632) 894-9082 / (632) 878-3307
Attention: Ms. Maj T. Dellosa
Senior Personal Banker
Incoming Charges: A fixed charge of $5.00 for remittance
$8,000 and
below, 1/16 of 1% incoming charge for remittance over $8,000
GUIDELINES ON BANK REMITTANCES:
Monthly dollar contributions
should be remitted to the same bank account. Said contribution shall then be converted to Philippine Pesos at the exchange
rate of the day the amounts are received by the chosen Bank.
The amount credited for the Unit shall be net amount received
by our company, after bank charges for the remittances.
To ensure that your contributions are received in full by our
company, you may wish to add the following to your remittances: An estimated $ 5.50 for the Philippine telegraphic charges
Plus $ 5-15 bank charges that your respective banks may charge you Kindly fax us a copy of the confirmation receipts of your
respective banks at (632) 811-5588 or (632)6700-7686. Any differences in the dollar-peso exchange rate, whether it be an overpayment
or under-payment shall be reconciled in your last monthly remittance for the Initial Contribution.
SITE TRIPPING:
If
you have friends or relatives based in the Philippines, you may want them to see South of Market on your behalf, we may be
reached via telephone nos. (632) 984-0648, for appointments.
Again, thank you for your continued interest in
South of Market. Please do let us know how we can better serve you.
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