Yahoo Finance Luxury residence at upscale Philippine enclave
Wack Wack is known for the prestigious Wack Wack Golf and Country Club, which is one of the oldest golf clubs in the Philippines (Credit: Shang Wack Wack Properties)
Wack Wack, in Mandaluyong City in the Philippines, got its name from the squawks of crows that used to inhabit the land. The upscale enclave is better known for its prestigious Wack Wack Golf and Country Club, one of the oldest golf clubs in the Philippines. Founded in 1930, it boasts two 18-hole championship courses in the Philippines.
It is in this exclusive neighbourhood that Shang Wack Wack Properties is offering units at its luxury residence, Shang Residences at Wack Wack, for sale. The property is jointly developed by Shang Wack Wack Properties and Hong Kong-listed Kerry Properties. Shang Wack Wack Properties is an affiliate of Shangri-La Hotels & Resorts, a Hong Kongbased luxury hospitality group which manages more than 100 hotels in 76 destinations.
Comprising 430 units, Shang Residences at Wack Wack spans 50 storeys that soar to 165 metres in height, offering views of the vast golf course and the nearby Makati city skyline. One storey typically houses six to 10 units, while the higher floors accommodate six units each. Units include one- to three-bedders, occupying between 872 and 2,497 sq ft. There are also three- and four-bedroom simplex units of between 1,819 and 4,144 sq ft. The largest of its unit types are the four-room, duplex penthouses, which have sizes of 5,780 to 6,835 sq ft. All units come with a balcony.
Comprising 430 units, Shang Residences at Wack Wack spans 50 storeys that soar to 165 metres in height (Credit: Shang Wack Wack Properties)
Accessibility
Shang Residences at Wack Wack is bounded by key Philippine cities such as Pasig, San Juan, Quezon and Makati, and is within a 35- minute drive to the CBDs of Ortigas and Makati.
Occupying a land area of 36,178 sq ft, the development is conveniently located near a variety of educational institutions, medical facilities and shopping malls. These include schools such as La Salle Greenhills and Lourdes School of Mandaluyong, and tertiary institutions such as the University of Asia and the Pacific, and Jose Rizal University. For those with young children, Mulberry Kids Preschool is a 12-minute drive away.
Medical centres in the vicinity include Cardinal Santos Medical Center, The Medical City, and Victor R Potenciano Medical Center. The development is also within a 15-minute drive to shopping malls like Robinsons Galleria, Shangri-La Plaza, and SM Megamall, one of the largest in the country.
Margaret Bong, director of international sales and marketing at Shang Properties, expects Shang Residences at Wack Wack to be popular among buyers from China, Singapore, Malaysia and Japan. The condo was launched in the Philippines in September last year, and is 35% sold to-date, she shares. The property is slated for completion by end-2023.
The lobby at Shang Residences at Wack Wack (Credit: Shang Wack Wack Properties)
Array of amenities
The developer has taken advantage of its close proximity to the golf course, and ensured that the facilities enjoy views of the lush lawns. Three private function rooms boast full-height windows, so guests can enjoy expansive views of the greenery at the golf course. For exercise junkies, there are a gym and a yoga studio, which also come with views of the fairway.
Other amenities include a mini theatre, billiard room, clubhouse, and swimming pool. For families with young children, kids’ playzones – indoors and outdoors – and a dedicated children’s pool are available. Those who want to relax can head to the steam and sauna rooms.
Managing rentals
To entice buyers, Shang Properties has an inhouse leasing team that can help owners to manage and rent out their unit for a fee. The extensive services cover interviews with prospective tenants, handling of the viewing of units with prospective tenants, negotiations of terms of lease with them, preparation of the lease documents, and documentation of the condition of the unit before they move in or out.
Those who purchase a unit can expect a rental yield of 5% to 7% a year, according to the developer.
Other developments by Shang Properties in the Philippines include The Enterprise Center and The Rise in Makati; The St Francis Shangri-La Place, Shangri-La Plaza and One Shangri-La Place in Ortigas Center; and Shangri-La at the Fort and Horizon Homes in Bonifacio Global City.
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