The groundbreaking ceremony of The Estate Makati, a joint project of SMDC and Federal Land, marks the official start of construction of the ultra-luxury residential condominium. The building is the first in the country to be designed by the award-winning architectural firm Foster + Partners, of the renowned British architect Norman Foster. VIPs from both companies, including Henry Sy, Jr., Chairman of SMDC, Alfred Ty, Chairman of Federal Land Inc., and William Coscolluela, of W.V. Coscolluela, the local architectural consultant for the project, were on hand for this momentous occasion.
A partnership between two families
All set to rise on a 3,500 square-meter lot on Apartment Ridge, the last available plot of land in this highly exclusive area of the city, The Estate Makati will be the tallest along Ayala Avenue, expected to top off at 270 meters. It is the first joint project of the Sy Family (the clan behind the success of the SM retail empire as well as its other core businesses including BDO, Chinabank, and SMDC, and the Ty Family (whose major holdings and investments include Metrobank, Federal Land, and Toyota Motors Philippines and Lexus Philippines, among others) since the development in the 1980s of Ritz Towers, also on the prestigious Apartment Ridge in Makati. At the time, the two powerful business families jointly invested in the project through separate privately held companies. Now, as the Sy’s SMDC officially partners with the Ty’s Federal Land for the very first time, the highly ambitious, ultra-luxury development The Estate Makati is seen as a fitting tribute to both families’ patriarchs. This project will cement—literally—the legacies of the visionaries Henry Sy and George S.K. Ty.