ALI launches 2 luxury residential projects
MANILA, Philippines–Property giant Ayala Land Inc. has brought to the property market P20 billion worth of new residential inventory catering to the luxury segment in two high-rise developments rising in Makati and Bonifacio Global City.
Recently launched through flagship Ayala Land Premier (ALP) brand was the 52-floor Two Roxas Triangle, the second and final tower of the prestigious Roxas Triangle Towers in Makati. This “ultra-luxury” tower offers 182 residential units with floor area of at least 302 square meters at a price of P200,000 per sqm.
Likewise rolled out under the ALP brand was the 50-story East Gallery Place at the eastern tip of BGC’s High Street. This project offers 407 residential units with floor areas ranging from 76 sqm to 648 sqm also to be sold at about P200,000/sqm but with “special” units that will be sold for as much as P300,000/sqm.
These towers offer residential units with total sales value of P10 billion each, ALI officials said in a briefing on Thursday. In both projects, 70 percent of the total inventory had been taken up so far.
Residential units in East Gallery will be turned over to buyers starting the second quarter of 2019 while turnover for units in Two Roxas is expected starting the first quarter of 2019.
ALP head Jose Juan Jugo said the upscale property market remained strong. A “healthy” velocity for any property developer, Jugo said, would be to sell all inventory during the construction period, which was what pre-selling was all about.
In the case of Ayala, however, he said sales takeup had been faster, citing its strong branding and track record that dated back to the 1940s when the first upscale villages in the metropolis were built.
Another indicator of the strength in the upscale property market for ALI is the faster takeup of the “special” or limited edition units such as Skyrise 1400 in East Gallery Place.
East Gallery Place is the first premium residential hub on High Street South, which is fashioned after other world-class cultural hubs. It carries six types of residential units with different sizes and features.
The new BGC residential project was called a “gallery” because it was designed as a convergence of several towers, with one wing offering prime residential units, while another offers large townhouse-type residential units and retail developments at the ground floor.
“All of these residential spaces were designed to evolve as the buyer progresses in life. The units were designed in consideration of his or her varying life stages. East Gallery Place is a residence that builds on the ALP legacy of delivering products that build value over time. We create residences of the highest quality and design, that are valued today and in the generations to come,” Jugo said.
Classic units on the north wing of East Gallery are one- to four-bedroom units offering ALP finishes such as European grade-kitchens, homogenous tiles, natural light and ventilation and wood flooring from “sustainable” sources.
In this BGC project, ALP is also pioneering a new residential concept called “Flex” units. From a studio unit, Flex units can be transformed based on the owner’s needs in different life stages. The space is efficiently planned without interior partitions and a studio unit can evolve to include a home office, or another bedroom or two or even a walk-in closet, all depending on the buyer’s preference.
