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Ayala Land’s upscale property 99% taken up


05:14 PM December 19th, 2012

By: Doris C. Dumlao, December 19th, 2012 05:14 PM

MANILA, Philippines–Property giant Ayala Land Inc. has reported a brisk take-up of residential units in upscale 63-storey “The Suites” in Bonifacio Global City, its most expensive but best-selling residential project in recent years.

Ayala Land Premier group head Jose Juan Jugo said in a recent press briefing that the 298 residential units in this project were 99 percent taken up in the first day of selling. Encouraged by the strong market appetite, Jugo said ALP was now planning the sequel to this project.

The Suites is located at One Bonifacio High Street, a premier one-kilometer urban and lifestyle destination which will likewise be the home of the future Philippine Stock Exchange, a high-end shopping center and a six-star Shangri-la hotel.

This iconic single tower, which was unveiled last June, has an estimated sales value of about P10 billion, Jugo said. The units are selling for an average of P188,000 per square meter, much higher than any other residential project launched by Ayala whether in BGC or in Makati. The units are thus priced for at least P25 million to as much as P150 million.

Units in All Suites are targeted for turnover to buyers by the third or fourth quarter of 2018.

To date, overall sales performance of ALP–Ayala’s upscale property brand–has reached P23.6 billion, out of which BGC accounts for 46 percent of sales take-up.

The BHS strip will also include the 23-story office building that will be the headquarters of the Philippine Stock Exchange and a premium lifestyle center. The PSE building will cost about P3 billion to build while the shopping center will cost another P2 billion.

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