ALVEO Land Corp. said that it had initially sold a total of P6.2 billion of the inventory for its Park East Place condominium at Bonifacio Global City in Taguig.
“We did our launch two weeks ago and over the course of two days of selling over the weekend we sold a record-breaking P6.2 billion in launch sales,” Alveo General Manager Antonio S. Sanchez III said in a media briefing on Wednesday.
“In one weekend we were able to sell about 28% of our inventory [or] 149 of the units available,” Mr. Sanchez added.
The 59-storey property has a total of 523 units, spread across 53 residential floors with a maximum of 10 units per floor.
The residential units are composed of 40% one-bedroom units, 40% two-bedroom units, and 20% three-bedroom units, with an average price range of P24 million to P38 million per unit or P430,000 per square meter (sq.m.).
Unit sizes range from one-bedroom units at 61 sq.m. to one-bedroom suites at 67 sq.m., two-bedroom suites at 94 to 98 sq.m., and three-bedroom suites at about 131 sq.m.
The property will feature a 2,600-sq.m. amenity deck, which will have an adult and children’s pool, and outdoor play area.
Indoor amenities include a gym, indoor play area, a function room and board room, and shared spaces.
The ground-floor and seventh-floor residential lounges are both expansive lounge spaces. Park East Place will also feature a drop-off lounge that seamlessly cascades the modern indoor design to an al fresco experience, the company said.
The BGC property has a total value of about P20 billion and is expected to be completed by 2030.
“The success of Park East Place’s project launch reaffirms Alveo’s presence in BGC. The extremely strong reception is a clear affirmation of Park East Place’s unique project concept, strategic location, and trust in the Alveo brand,” says Alveo President Mike Z. Jugo said.
Alveo Land is a subsidiary of Ayala Land, Inc. The parent firm’s shares went up by 0.2% or five centavos to P24.75 apiece on Wednesday.
Ayala Land’s other subsidiaries include Avida Land Corp.; Ayala Property Management Corp.; Makati Development Corp.; AyalaLand Logistics Holdings Corp.; and Ten Knots Philippines, Inc. — Adrian H. Halili