ALI to start building P4-B Serendra tower
By Doris Dumlao
Philippine Daily Inquirer
By Doris Dumlao
Philippine Daily Inquirer
PROPERTY GIANT Ayala Land Inc. unveiled Tuesday its most luxurious high-rise residential project in Fort Bonifacio Global City to date, which formed part of a P10-billion medium-term investment program for the sprawling central business district.
Taking advantage of the rebound in demand for upscale residential property units, ALI is now offering 372 residential units in its 50-story West Tower at One Serendra, which is targeted for turnover to home buyers by July 2015.
In a briefing Tuesday, ALI president Antonio Aquino said the Ayala group had so far invested P20 billion in Serendra and would invest P10 billion more in the next two to five years in more residential and office buildings, and in new projects that included a boutique hotel and the Mind Museum in Bonifacio Global City, which is dubbed the "twin city of Makati." These two, Aquino said, were the property crown jewels of the Ayala group.
Aquino said the increased pace of property product launches by ALI, particularly those under its Ayala Land Premier brand, reflected the strengthening of the property market. This, he added, had also benefited ALI's less expensive property brands.
For West Tower alone, ALI is spending P4 billion to build spacious residential units which the company said was the last of its kind in the Serendra development, which started in 2004.
Units at the plush new condominium will cost at least P8.5 million for an 82-square-meter one-bedroom unit to as much as P75 million for a three-bedroom 500-square-meter unit.
ALI senior vice president Rex Mendoza said the property firm had so far received letters of interest in this development, which translated to P2.72 billion in reservations.
"In the West Tower, we are combining the comforts of larger, more thoughtfully planned living spaces, greenery and open spaces usually found in subdivisions with the conveniences of access only an urban location like Bonifacio Global City provides," Mendoza said.
Limited edition Sky Pool and Sky Garden units are available at the topmost floors. The Sky Pool units offer residents a private pool with a view of the horizon while the Sky Garden offers more space for relaxation with a balcony big enough to host a cocktail party.
Among the amenities in the new building are three multi-purpose underground courts and three swimming pools alongside gyms as well as meeting and banquet halls.
For this upscale project, ALI is targeting families "down scaling" their residential units from nearby plush subdivisions, expatriates, US-based Filipinos and other high net worth individuals.
Ayala Land reports brisk residential sales, may top year's targetBy JAMES A. LOYOLAJuly 20, 2010, 5:04pmReal estate giant Ayala Land Inc. (ALI) may exceed its target of selling 9,000 residential units this year as it has already sold 6,000 units as of the end of June, 2010.
In an interview, ALI president Antonino Aquino said "we feel quite good about it" but opted to be more conservative and qualified that performance in the second semester will depend on market take up.
In the second quarter of the year, Aquino said they are seeing similar levels of consistency as the strong 32 percent core net income growth in the first quarter of the year to a record P1.2 billion.
"We are heartened by the strength of the market," said Aquino adding that ALI continues to be optimistic about prospects in the real estate market and expects this trend to continue until next year "barring any major surprises" in both the global and local economies.
Aquino explained this is why the firm is making major investments to put up various projects that are expected to provide revenue and income streams for the next five years.
For Bonifacio Global City alone, ALI is investing P10 billion for various projects to be launched in July and August including the expansion of the highly successful Bonifacio High Street (BHS) commercial and retail strip.
In addition to the existing BHS East, ALI will be developing BHS Central and BHS West which will feature a water plaza, the P1-billion Mind Museum, more high-end retail spaces and restaurants as well as mid-rise office buildings.
Ayala Land Premier has also launched the P6-billion West Tower at One Serendra, the second of a two tower high-end development for which it is investing P4 billion over the next two years.
ALI senior vice president for sales and marketing Rex Mendoza said they have already received letters of intent for units worth P2.7 billion or about half of the 372 units offered in West Tower upon its launch. He expects the entire project to sell for up to P8 billion as unit prices are sure to appreciate over time.
Mendoza said The West Tower offers buyers a final chance to be part of its uncommon urban sanctuary, One Serendra which boasts of a unique location in Bonifacio Global City, a flourishing environment within, and graceful spaces in the units.
"We are combining the comforts of larger, more thoughtfully planned living spaces, greenery and open spaces usually found in subdivisions with the conveniences of access only in an urban location like BGC provides," he said.
The West Tower also offers some limited edition units going for as high as P75 million for one of two Sky Pool units which measures 400 square meters and features a 20 square meter indoor pool
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