Avida unveils final project in BGC

Artist’s rendition of Tower 1 of Avida Towers Turf BGC

AYALA-led Avida Land Corp. unveiled on Tuesday what could be its final project in the booming Bonifacio Global City property market: the two-tower Avida Towers Turf BGC which brings P7 billion worth of new residential inventory to the metropolis.

Avida has started selling units in the first tower of Avida Towers Turf – its eighth high-rise project in BGC – for around P150,000 per square meter, giving the building a total sales value of P3.4 billion.

Since launching its first residential project in BGC for P89,000 in 2010, the selling price of Avida’s residential units in BGC has thus surged by 68.5 percent. That first project, Avida Towers BGC 9th Avenue, was completed in 2014.

The first tower of Avida Towers Turf offers 537 residences in one-, two- and three-bedroom configurations across 30 residential floors, plus six levels of podium parking. Units range from 37 to 58 square meters in size. Selling prices per unit are between P5.2 and P10 million.

The turnover of units in the first tower is expected by the first quarter of 2020. The two-tower condominium will rise on 9th Avenue corner Lane S as Avida’s hero development.

Avida expects to launch the second tower next year. “Historically, Avida has been launching one tower a year,” said Herbert Herrero, Avida senior division manager, project and strategic management group and South Luzon Area head.

Including the units in the second tower, this project has an inventory of 1,074 residential units.

“This project has only 18 residential units to a floor, which has relatively low density in our class,” Herrero said, thereby increasing the privacy of residents. Avida’s residential projects typically has 25 to 30 units per floor.

Amenities include adult and kiddie swimming pool, a stand-alone clubhouse, children’s play area, garden area, a view deck and an indoor gym. It is also bounded by streets on all sides.

“This means residents will see a wider distance from adjacent properties because of building setbacks. The larger spaces result in better airflow and ventilation,” Herrero said. “Being centrally located in the active North, Avida Towers Turf BGC brings nearly everything within reach in BGC.”

For its three-bedroom unit, Avida Towers Turf BGC introduces what is described as a “smartly configured, space efficient schematic” at 56 sqms. This provides the market with an option for a three-bedroom home in the premium district of BGC, Herrero said.

Among the attractions in this area, dubbed as the “Active North” include the all-weather football field Turf BGC, just across the project, plus other activity centers such as Flying Trapeze Philippines, Kidzania and the soon-to-rise BGC Sports Complex.

This could be Avida’s final project in BGC given few remaining parcels of landbank meant for residential development in this booming property market.