FACTBOX-Philippine property projects on the rise

MANILA, April 13 (Reuters) - Philippine property firms have seen residential sales from Filipinos based overseas, especially in the United States, slide as the U.S. economy slows.

But companies continue to invest heavily in new housing and tourism projects as local demand takes up the slack.

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The following are some of the new upscale residential and hotel projects in the country's main financial centre, Makati City in Manila, and the adjacent Bonifacio Global City business district:

MAKATI FINANCIAL CENTRE

-- Discovery Primea: A 60-storey service apartment and luxury residential condominium project to be built by JTKC Land on Ayala Avenue, at the heart of Makati City. The company owns the Discovery chain of hotels in the Philippines.

-- One Central residential condominium project by Megaworld Corp (MEG.PS: Quote, Profile, Research, Stock Buzz). The 50-storey tower will have 749 units selling at an average of around 106,000 pesos ($2,548) per square metre, Megaworld's priciest offering. The company started pre-selling of the project, valued at 5.5 billion pesos, in the first quarter of this year.

-- Greenbelt Chancellor: A 34-storey apartment building by Megaworld in the Greenbelt commercial area. The company has sold 93 percent of the project, which involves 328 units. The project, launched in the first quarter last year, is expected to be completed in late 2010 and is priced at an average of close to 96,000 pesos per sqm.

-- Greenbelt Excelsior: A 34-storey apartment building by Megaworld. The project, with 325 units, is already 54 percent sold and is expected to be completed in late 2011. Average price of the units is close to 98,000 pesos per sqm.