Alveo Land Corp., which operates as a brand of property developer Ayala Land Inc.. is seen generating P22 billion in sales from its latest Bonifacio Global City residential project in Taguig.
The project, called Park East Place, already reported initial sales of P6.2 billion when it launched two weeks ago.
“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,” Joseph Carmichael Jugo, Alveo Land president, said.
According to Jugo, a 59-floor, single-tower condominium will rise at the 4,000-square meter property at the corner of 32 Street and 9th Avenue in what the developer calls as the area’s lifestyle corridor.
The development involves 523 one- to three-bedroom units at 60 square meters to 131 square meters per unit on 53 residential and eight parking floors.
Each unit sells between P25 million to P58.9 million as its introductory price or P430,000 per square meter and no more than 10 units per floor.
Alveo offers the units at 10 percent down payment with the rest payable in seven years at zero interest.
Park East Place is eyed for turnover by 2030.
