By ALBERT CASTRO | April 23, 2014 [ Malaya.com.ph
]
Ayala Land Premier (ALP), the high-end
property management arm of Ayala Land, Inc., sees sales for the initial unit launch
of its first project in the former FTI complex to hit P3.5 billion.
The project, dubbed Arbor Lanes, is a
five-tower mid-rise condominium, in Arca South, south of the Makati’s Central
Business District.
A total of 208 units are being made
available to buyers in the project, priced at P170,000 per square meter, for
units ranging between one-bedroom to three-bedroom units.
Jose Juan Jugo, ALP president, said unit sizes run from 20 sq.m., to 200
sq.m.
ALP’s Arbor lanes forms part of the
residential segment of the Arca South development where two more of Ayala
Land’s property development units --- Alveo and Avida --- put up their
respective projects in the mixed-use development.
A total of 3,645 residential units are
planned to be put up in Arca South with ALP comprising 1,000 units; Alveo at
902 units; and Avida 1,609 units.
Alveo expects to generate P9.2 billion
in sales from its Arca South Project while Avida expects a sales of P5 billion.
The residential develoment is expected
to be completed in the next five years of the project’s phase one, of which
Ayala Land allocated P80 billion as capital expenditures, according to Meean
Dy, Ayala Land vice president for strategic landbanking.
Aniceto Bisnar, Jr., vice president
for landbanking management, said they the development of Arca South may run
between 10-15 years, with notable developments expected to be completed in
three years time.
Upon completion of the whole project,
Arca South is expected to house 3.6 million sq.m., gross floor area of office
and residential units, with 60,000 residents, and another 400,000 office
workers.
Two of the planned office buildings
are expected to be operational by 2017.
Part of the development is the
construction of a 200-room Seda hotel of the company, which is expected to
replicate the success of the Seda Bonifacio Global City of 90 percent.
Arca South will also host one of the
two “quartinary,” 250-bed hospital of Ayala Land’s Qualimed partnership with
Mercado hospital.
Arca South is expecting buyers start
of construction in lots Ayala Land has sold to “loyal buyers” when the company
was initially planning the development of property.
Ayala Land has also sold a total of 19
lots with P3.8 billion in Arca South, with sizes averaging 300,000-350,000
sq.m.
Ayala Land won the bidding for the
74-hectare Arca South in the privatization effort of the government in 2012,
bidding for the property for P24.33 billion and eclipsing the bids of Robinsons
Land Corp., and Empire East Land Holdings, Inc.
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