T
he Philippines has emerged as one of the most sought-after luxury property markets, surpassing established hubs like Dubai, Hong Kong, and Singapore. According to Knight Frank's "Wealth Report 2024", Manila saw a 26% surge in luxury property prices, outpacing Dubai's 16% growth over the same period. This demand is driven by new regulations allowing foreign investors to purchase properties for investment and personal use.

    The Estate Makati (TEM), located on Ayala Avenue in Makati's central business district, is one of the most prominent new developments. A joint venture between SM Development and Federal Land, TEM was designed in collaboration with Foster + Partners, led by Norman Foster. This marks the architectural practice's first project in the Philippines.

    Foster + Partners' design philosophy emphasizes redefining the relationship between buildings and people through cutting-edge sustainable structures. The 60-storey TEM development is situated near a quiet residential village, inspiring the creation of exterior garden spaces for residents to enjoy. With 188 units, including two- and three-bedroom apartments and bi-level suites, TEM aims to set a new standard in luxury real estate and architecture in the country.

    The building's design features a tree-lined driveway leading to a raised ground-floor entrance with views over the village. Residents can access their private lobby and apartments via four banks of lifts, creating a sense of intimacy and seclusion within the high-rise structure.