Alveo Land Corp. is set to generate around P20 billion from its latest Bonifacio Global City residential project, Park East Place.

The upscale property brand of the Ayala Land Inc. said it initially sold a P6.2 billion-worth of sales when it was 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,” said Joseph Carmichael Jugo, Alveo Land president.

Alveo said the 59-floor, single-tower condominium, will rise at the corner of 32 street and 9th avenues. Park East Place offers 523 units ranging from one-bedroom to three-bedroom, with sizes ranging from 60 sq.m. to 131 sq.m. per unit. Units are sold between P25 million and P58.9 million as its introductory price.

The condominium is designed to have a floor density of 10 units per floor.

Alveo is offering the project at a 10 percent down payment, with the rest payable in seven years at zero interest.

Park East Place is eyed for turnover by 2030.

Jugo said Park Place East is targeted towards both end-users and investors with the initial units sold going to overseas- based buyers — both foreigners and overseas Filipinos.