Alveo Land eyes P8-B in sales from new BGC condo

by Jon Carlos Rodriguez, ABS-CBNnews.com

Posted at Apr 21 2015 05:53 PM | Updated as of Apr 22 2015 03:22 AM

MANILA – Ayala Land's high-end property unit Alveo Land is expecting to generate sales of about P8 billion from its new residential condominium project at the Bonifacio Global City (BGC) in Taguig.

Anton Sanchez, division manager for project development at Alveo Land, said the company will be investing P4 billion for the 49-storey tower located at the crossroads of 32nd Street and 11th Avenue.

Park Triangle Residences will have 616 units of studios, 1-bedrooms, 2-bedrooms and 3-bedrooms ranging in size from 36 sqm to 232 sqm.

Units will be sold at P175,000 per sqm or P6.5 million to P44 million per unit, and are expected to be turned over early 2021.

Park Triangle Residences sits on Ayala Land’s mixed-used development Park Triangle, a 2.3-hectare parcel of land seen to be BGC’s “northern gateway.”

Park Triangle Residences

Aside from the residential tower, three office buildings and an Ayala mall are expected to rise within Park Triangle, which Sanchez said will cost a total of P16 billion.

“All of these components give us that very unique proposition for the development, which is being in different places all at once,” Sanchez said at the media launch of Park Triangle Residences.

He added that Park Triangle Residences will be the only property in BGC to have direct access to an Ayala mall through access lobbies at the ground floor and the fourth floor.

The five-storey Ayala mall is expected to open by 2018.

Park Triangle’s lifestyle center will also house Kidzania Manila, a P1 billion “edutainment” complex for children.

32nd St., 11th Ave.

Sanchez said Ayala Land considers Park Triangle as BGC’s “new center of gravity,” with a number of corporate offices as well as retail and leisure spots setting up shop in the northern part of BGC.

He said that 32nd St. is growing to be BGC’s corporate row, where some of the top businesses and multinational headquarters are located.

The street also serves as the BGC's main thoroughfare to the business districts of Makati, Ortigas and Quezon City.

11th Avenue, on the other hand, is one of BGC’s main lifestyle strips, where retail, leisure and dining spots are located.

The avenue passes through Serendra, Bonifacio High Street and soon High Street South.

"Everything being within 800 meters from this crossroads gives us a very prominent location in BGC, it also serves as the northern gateway for the city--coming from the north from C-5, this is where you enter," said Sanchez.