AYALA Land Premier, the luxury residential brand of Ayala Land Inc. (ALI), said that its latest residential project in Makati, Park Central Towers, has generated P8.3 billion in presales before the project’s official launch.
In a media briefing on Tuesday, Ayala Land Premier sales head Mike Jugo told reporters that the company has sold 116 units or 40 percent of the estimated P20.5 billion total sales value of the first tower of Park Central Towers.
Park Central Towers is a two-tower luxury residential development that is set to rise at the corner of Paseo de Roxas and Makati Avenue in the country’s premier Central Business District.
The first tower of the development, or the Park Central South Tower, will have 69 floors with 281 private residences featuring 12 different unit designs and layouts. The tower will be located across Ayala Triangle.
Jugo said the official launch of Park Central South Tower is slated around early September and turnover is set to begin in 2024. Units will range from a two-bedroom unit measuring 138 square meters to three-level penthouse units called Anadem Villa One. The penthouse units, measuring approximately 1,635 square meters, will also include a limited common area and a 281-square-meter pool deck.
“There are typically only five units per floor. Since most units have their own dedicated private elevators, well-heeled residents will likely not see each other in the elevator lobbies or lifts,” said Jose Juan Jugo, managing director of Ayala Land Premier.
The project will also feature other unit layouts, such as the Anadem Three and Five units, which measure 809 square meters inclusive of a pool area; and Anadem Suites, which are two-bedroom units measuring approximately 239-240 square meters.
“Park Central South Tower will sell for an average price of about P300,000 per sqm. Unit prices range from P32 million to an unprecedented P477 million, with an average unit costing close to P80 million,” Mike Jugo said.
The two-tower development will include a retail area at the podium level and a special four-storey high common space called Sky Terraces that will house either a gym, swimming pools, residents’ lounge or spas.
Park Central Towers was designed by Leandro V. Locisin Partners in collaboration with Singapore-based architectural firm Soo Chan Design Associates (SCDA) and noted Japanese design group Studio Taku Shimizu.
Jugo declined to give an exact figure as to the investment cost of the project.
“We don’t normally provide a figure but what we can say, given it’s a luxury product, development cost is at a premium over a more traditional tower,” Jugo said.
He said they expect to sell out units of the first tower in two years. “If we continue with this trajectory, probably in two years or a little more than that,” Jugo said.
The company plans to launch the second tower of the development, which will be slightly shorter at 57 floors, in two to three years.
“Normally we try to sell 80 to a hundred percent. Maybe in a span of two, three years. If we are able to launch the second tower in two years, assuming that we will be able to launch it in two years, both towers could be up and completed at the same time,” Jugo said.