In what could be a fitting way to mark its 20th year of presence in Bonifacio Global City (BGC), Alveo Land has launched its 20th residential project in this masterplanned estate, Park East Place.

Alveo is the upscale property brand of Ayala Land Inc. (ALI) and is the biggest developer in BGC.

Antonio Sanchez III, general manager for North Operations of Alveo, said in a press briefing, said Park East Place is the most premium in the Alveo line, priced at P430,000 per square meter (sq.m.) with a total value of P20 billion.

Sanchez cited three of Park East Place’s distinguished advantages:  a prestigious address, refined residential building and rare investment opportunity.

Sanchez said Park East Place will be a prominent building with a distinct facade at the corner of 32nd street and 9th avenue, one of the primest locations within BGC where pioneer locators are housed such as St. Luke’s Medical Center, S&R Membership Club and MC Home Depot.

On 32nd street are prestigious office buildings such as The Curve BGC, The Globe Tower, Eco Prime, Eco Tower, Menarco, IBM One World Place, Bonifacio Stopover Corporate Center, as well as Alveo office developments Alveo Park Triangle Tower and Park Triangle Corporate Plaza.

On 9th avenue are retail and lifestyle areas in the 800-meter-long Bonifacio High Street such as One BHS and Market!Market! malls to commercial areas like Uptown Mall, and Mitsukoshi, as well as hotels like Seda BGC, Shangri-La The Fort, and Grand Hyatt Manila.
The location is near various open spaces and expansive parks such as the 4,600-square- meter BGC Turf conveniently located behind Park East Place, Track 30th, Terra Park 28th Street, and Burgos Circle Park.

Numerous parks and open spaces are also within easy access, such as the 4,600-square-meter BGC Turf conveniently located behind Park East Place, Track 30th, Terra Park 28th Street, and Burgos Circle Park.

The single tower 4,000-square meter development features upgraded unit finishes and refined amenities.

Sanchez said Park East Place was designed in collaboration between local architectural firm Aidea and foreign design consultant Smith Group which used distinctive design elements such as stone columns, decorative aluminum cladding and an amenity podium highlighted with angled fins.

The exterior also boasts of a high glass ratio, contributing to a truly striking visual appearance. Another unique architectural feature is a 9-meter glass crown that will distinguish it among the structures in the BGC skyline.

Park East Place will have 59 physical floors, of which 53 residential floors with a total of 523 units. The tower has a maximum of 10 units to a floor, providing exclusivity to residents.

Unit sizes range from approximately 61 to 131 square meters in one, two and three-bedroom configurations. All units will have balconies.

Deliverables include a range hood, a multi-point water heater, Kohler toilet fixtures, as well as split-type air conditioning for all main rooms (living room and bedrooms).

Eight floors will be dedicated parking spaces – three basement levels and 5 podium parking levels. This is also the developer’s first project with an electric vehicle parking system in place.

Most of the community’s exclusive amenities are housed in the 7th floor podium that include a residents’ lounge. The ground level also features a similar lounge complementing the 400-square-meter entry lobby and drop-off lounge.

The ground floor has 1,000 sq.m. of leasable retail space, ensuring a good mix of future retail offerings.

Park East Place is slated for completion by 2030.

According to Sanchez, the scarcity of products in the area has made Park East Place attractive to investors.

Historically, he said, BGC has always been a preferred market for investors as its track record would show high lease rates of existing residential developments.

Alveo Land has an extensive range of existing and completed projects in BGC. Prominent developments include Two Serendra, High Street South Maridien and Verve Residences, as well as Park Triangle Residences for residential condominium developments. Alveo also has office-for-sale projects such as Alveo Park Triangle Tower, Park Triangle Corporate Plaza, and High Street South Corporate Plaza in BGC.

Source: Malaya Business Insight