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3rd Ayala Land Tower Up

AYALA Land Inc., - the biggest builder, said Thursday it is spending P3 billion to construct the last tower of the three-tower luxurious residential project called Park Terraces at Ayala Center in Makati City.

The 49-story structure will offer 370 condominium units with hotel-suite sizes

Sizes range from 37 square meters for a studio unit to as much as 500 square meters for the penthouse suites. Unit costs range from P6 million to as high as P55 million, or at P169,000 per square meter.

Ayala Land Premier, a unit of Ayala Land that caters to the high-end market, expects to sell all units over the next two to three years.

Ayala Land Premier project head Leya Moya said in a briefing the launching of third tower came on the heels of the success of the first two condominium towers.

The first tower, which was launched in January 2010, sold P4.3 billion worth of units in a single weekend while the second, which is now 70 percent sold, generated sales of P3.9 billion.

"The rising demand for living spaces at the heart of Ayala Center, the country's most desired address, paved the way Ayala Land Premier to introduce Park Terraces," Moya said.

Manila Standard Today
By: Ray S. Enano
29 July 2011

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