Haute Real Estate: Missoni Apartments

Century Properties and Missoni will be creating a new luxury apartment complex in the city. The project is the second of its kind for Century Properties who has already begun construction of a condo called the Milano, a 53-story development with Versace-designed interiors.

Robbie Antonio, managing director at Century Properties said, “I really believe in designer luxury. Missoni’s ethos is one of vibrancy and energy, like ours, and that, couples with the fact that Milano has been successful for us, made this happen. It was very appealing to work and collaborate with him, because it will be his first condo in the world.”

Headed by husband-and-wife team Ottavio and Rosita Missoni, the brand previously worked with Rezidor Hotel Group back in 2005 to create a line of hotels called Hotel Missoni. Hotels in Edinburgh and Kuwait have opened under the name and another three are pegged to open by 2014 in Turkey, Oman and Brazil.

Century Properties is also currently working with celebrity socialite Paris Hilton to design and create a concept for a clubhouse that will go in the company’s Azure condos in Manila.

A mutual friend of Hilton and her father brought them to Century Properties and the club, which will be called Paris Beach Club at Azure, will be centered around a manmade beach in the middle of the luxury complex.

According to Antonio, the celebrity collaborations are turning out to be a great business endeavor. The Milano building is already 75% sold with units starting at $100,000 and penthouse unites going for approximately $1.7 million. The complex is expected to be completed by 2015.

As for the Missoni project, the architectural renderings are expected to be released “in the next couple of months” with sales to begin in November or December. The starting price for the Missoni project will be around $100,000. As seen with many of their other projects, Antonio expects that more than half of sales in his companies’ properties will come from overseas buyers. He believes that despite Manila not being the capital of high fashion or luxury, it has a rapidly developing economy with the chance to do something new.

Source: The Wall Street Journal