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Avida putting up P6.8-B twin condo towers in BGC

By Iris C. Gonzales (The Philippine Star) | Updated November 25, 2015 - 12:00am

MANILA, Philippines - Avida Land, a subsidiary of property giant Ayala Land, Inc., is building a two-tower residential development in Bonifacio Global City with an estimated combined cost of P6.8 billion.

The company launched the first P3.4 billion-tower of Avida Towers Turf BGC in October and expects to complete this and be ready for turnover by March 2020, officials said in a press briefing yesterday.

Herbert Herrero, Avida Senior Division Manager – Project and Strategic Management Group and South Luzon Area Head said the first tower would have 36 stories and 537 units in one-, two- and three-bedroom configurations.

He said both towers would each offer 537 units across 30 residential floors, plus six levels of podium parking. Units range from 37 square meters to 58 sqm in size. Selling prices are between P5.2 million and P10 million.

 Avida expects to launch the second tower next year.

“Historically, Avida has been launching one tower a year,” he said.

The project offers low density with only 18 units per floor, to ensure residents’ privacy.

Amenities include an adult and kiddie swimming pool, a stand-alone clubhouse, children’s play area, garden area, a view deck and an indoor gym.  It is also bounded by streets on all sides.

Avida has established strong presence in the premier district, with eight residential and office projects worth a combined P32 billion in just five years.

Of the total cost, about P24.3 billion has already been sold. The company has a total of 3.2 hectares of land in BGC, of which 2.8 hectares are currently being developed.

Existing developments in the area include residential properties like The Montane, Avida CityFlex Towers, Avida Towers Verte, Avida Towers 34th Street and Avida Towers BGC 9th Avenue, complemented by the office developments One Park Drive and Capital House.

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