PHILIPPINE Realty & Holdings Corp. (Philrealty), which recently emerged from corporate rehabilitation, has signaled that it’s back in business in a big way by attempting to redefine luxury living with its P25-billion real-estate development, called Sky Villas. This development, which promises to rock the local property industry with its own luxury-living concept, would be home to only 108 families. The 31-story Sky Villas, in Andrea North in New Manila, Quezon City, would have four units on each floor, with each unit measuring at least 200 square meters.