AYALA Land Inc. subsidiary Alveo Land Corp. is planning to break ground for its Park East Place high-rise condominium at Bonifacio Global City (BGC) before the year ends and expects to finish the project in seven years, officials said on Wednesday.

“Our groundbreaking is scheduled for the third quarter [of this year], and we will immediately start the construction in time for its delivery by 2030,” Alveo General Manager Antonio Sanchez 3rd told reporters.

The entire project will cost P9 billion and is expected to generate sales of around P20 billion. Alveo said that during the property’s launching two weeks ago, it already recorded P6 billion in sales.

“The success of Park East Place’s project launch reaffirms Alveo’s presence in BGC,” Alveo President Mike Jugo said. “The extremely strong reception is a clear affirmation of Park East Place’s unique project concept, strategic location and trust in the Alveo brand.”

Park East Place will have 59 physical floors and 53 residential floors, having a maximum of 10 units to a floor. All the 523 units will be furnished with balconies. The one to three bedroom units will range from 61 to 131 square meters.

The average price per square meter is P430,000 with options for one-bedroom, one-bedroom suite, two-bedroom and three-bedroom units. The total unit price ranges from P24 million to P66 million inclusive of value-added tax.

In addition to commercial spaces on the ground floor, Park East Place’s amenities will include adult and kiddie pools, outdoor and indoor play areas, gym, function room, shared spaces and several lounges.

Source: Manila Times