Alveo Land Corp., the upper-middle market brand of Ayala Land Inc., is spending P3 billion to develop the residential component of its latest mixed-use project.
The Gentry residences is the is the residential part of the Gentry project, a masterplanned development that will feature residential, retail and office components in the Makati Central Business District, along Valero Street in Salcedo Village.
The residential component will occupy 36 floors with 391 units. This translates to around P5 billion in sales.
“For its launch, these spacious units will have an average price of P170,000 per square meter, inclusive of VAT,” Alveo said.
Special features of the residential development include an amenities area on the 9th floor, offering a 20-meter lap pool, a kiddie pool, kid’s play area, and function rooms.
In a press briefing on Tuesday, Alveo Chief Operating Officer Jennylle Tupaz said the residential component of the project will be launched this month.
“The Gentry is uniquely positioned among our other projects because of its prestigious location. It is situated within the high-powered Makati Central Business District and is in close proximity to Makati’s Urban Oasis, the Ayala Triangle Gardens. Furthermore, It is also directly adjacent to Ayala Avenue and is within the serene Salcedo Village,” Tupaz said.
The retail component will occupy the first three floors of the project, which translates to a gross leasable area (GLA) of 3,800 square meters and can accommodate around 30 stores.
Turnover of the residential and the retail component of the development are slated for 2022.
The office part of the development will be launched next year, Tupaz noted.