Alveo unveils mixed-use project in Salcedo Village
aerial view of The Genry Residences – an artist’s rendition
A UNIT of property giant Ayala Land Inc. unveiled on Tuesday a new mixed-use, multi-tower project along Valero St. in Salcedo Village, Makati, creating at least P5 billion in new residential property inventory to harness rising affluence among urban dwellers.
Alveo Land’s “The Gentry” project has residential, office and retail components pitching the “understated, exclusive affluence of Salcedo Village” at the heart of the Makati central business district (CBD), Alveo chief operating officer Jennylle Tupaz said in a press briefing.
“The Gentry will enable you to own a piece of the Makati CBD. A prime location boasting of a strong multi-use concept makes it a rare and exciting opportunity for our clients,” said Tupaz.
The residential component – the 42-storey The Gentry Residences – will have 391 units with a mix of the following: studio units at 30 square meters (sqms), one-bedroom units at 54-65 sqms., two-bedroom units at 95 sqms and three-bedroom units at 124-149 sqms. These are offered at a starting price of P170,000 per sqm, inclusive of value added tax.
This suggests that studio units (36 percent of inventory) will be priced at around P5 million while one-bedroom units (28 percent of total) will be sold for around P9-P11 million and two-bedroom units (26 percent) at around P16 million. The three-bedroom units (10 percent) will be worth around P21-P25 million.
The residential component will have a footprint of 35,639 sqms while another 30,304 sqms will be earmarked for office use. Some 6,876 sqms will be for retailers.
“Having all these three components allows us to take advantage of the centrality of the location,” Tupaz said, likewise citing the strategic location being suitable for a “convergence of lifestyles.”
The project will rise in a parking lot behind Insular Life building acquired by Alveo from Bank of the Philippine Islands. Alveo is investing around P3 billion to build the residential tower, where units will be turned over to buyers by mid-2022.
“The Gentry is uniquely positioned among our other projects because of its prestigious location. It is situated within the high-powered Makati CBD and is in close proximity to Makati’s Urban Oasis, the Ayala Triangle Gardens. Furthermore, it is also directly adjacent to Ayala Avenue and is within the serene Salcedo Village,” she said.
Apart from end-users, Alveo is targeting property investors for the project. The offer also includes “investor suites,” each of which will have a private two-bedroom unit attached to a studio unit that could be leased out or offered to visiting guests. “This provides maximum flexibility between end-use and enterprise,” Tupaz said, noting that such units are designed with a common foyer but do not sacrifice privacy.
This is also the first Alveo project with a generous glass ratio of 40 percent, which means there will be more windows than the typical condominium units in the metropolis, resulting in natural lighting and ventilation.
Additional features of the residential development include an interior-designed lobby, and an amenity level at the ninth floor amenity featuring a 20-meter lap pool and a kiddie pool, kid’s play area and flexible function rooms with outdoor spill over area. Parking for residents will be located at the podium level.
The project was masterplanned by Benoy Ltd., an award-winning international firm of architects
The Gentry represents Alveo’s 10th project in the country’s business capital. It has launched a total of 15 towers of residential, office and mixed-use spaces across Makati, investing around P27 billion over 13 years in Makati alone.
Part of its current portfolio include signature residential and office-for-sale projects Solstice and The Stiles Enterprise Plaza in Circuit Makati, and Alveo Financial Tower along Ayala Avenue.
Jennylle Tupaz, Alveo COO, briefing the media on The Gentry project
