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Manila Bulletin devider Business devider The Stock Market devider Alveo posts record sales for P20 B BGC residential tower

Alveo posts record sales for P20 B BGC residential tower

Published Jul 12, 2023 06:51 am
Alveo Land, the upscale property brand of Ayala Land Inc. (ALI), reported record sales from its newly-launched P20 billion high-rise condominium project in Bonifacio Global City (BGC). In a press briefing, Alveo Land President Joseph Carmichael Z. Jugo said they achieved a record setting P6 billion worth of sales in just two weekends after the launch of the firm’s latest project Park East Place. Alveo President Joseph Carmichael Z. Jugo

“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,” he noted. Early-bird buyers consist mostly of investors and end-users based overseas, including both foreigners and migrant Filipinos. As its 20th BGC project on its 20th year in BGC, Park East Place is now part of Alveo’s outstanding BGC portfolio, along with signature projects Two Serendra, High Street South, and Park Triangle. This latest milestone solidifies Alveo’s stature as one of the most prevalent real estate developers in BGC. BGC remains a sought-after residential and business address in Metro Manila. Key infrastructure projects driving the area’s further growth include the recently opened BGC–Ortigas Link or the Santa Monica–Lawton Bridge, as well as the proposed Metro Manila Subway. Strategically situated at the corner of 32nd Street and 9th Avenue—two major thoroughfares in BGC—Park East Place is in one of the primest locations within the estate. It is near prestigious office buildings and well-known commercial centers, as well as pioneer landmarks such as St. Luke’s Medical Center–Global City, S&R Membership Shopping and MC Home Depot. There are also numerous parks and open spaces, such as the BGC Turf anchoring the location. This landmark vertical community will rise on a 4,000 square meter lot and will have 59 physical floors, with 53 residential floors having a maximum of 10 units to a floor. Park East Place will house a total of 523 residential units, all with balconies. These will be in spacious configurations of one to three bedrooms, ranging from approximately 61 to 131 square meters. The project has an average introductory price of P430,000 per square meter or P25 million to P58.9 million per unit. It is targeted for completion and turnover by 2030.
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