Mid-market property developer Avida Land is building its probably last project in the Bonifacio Global City (BGC), as the booming central business district (CBD) in Taguig has run out of space for residential development.
“Avida Land, a subsidiary of property giant Ayala Land, Inc., has recently rolled out Avida Towers Turf BGC, in one of the last residential parcels of Bonifacio Global City, Taguig,” the company’s press statement said.
It will be the Ayala Land subsidiary’s eighth residential project in BGC, after it launched its first five years ago, when the area at the southern part of Metro Manila was still a fledgling business district.
The newly unveiled project is called Avida Towers Turf BGC, and is expected to churn out P3.4 billion for the first tower alone, said Herbert Herrero, senior division manager for Avida’s Project & Strategic Management Group.
Herrero said the project had already sold P400 million worth of units, three weeks after the first tower’s soft launch in late October.
Avida Towers Turf BGC will be a 36-storey two-tower development, with a total of 537 residential units.
It will also feature a six-level parking podium, with the entire ground level allotted for retail and commercial establishments.
Herrero said Avida Land is set to turn over the first tower in March 2020, while the second
tower will be launched next year, in line with the company’s one-tower-per-year development target at BGC.
Units for Avida Towers Turf BGC will come in 1-bedroom, 2-bedroom, and 3-bedroom types, ranging from 37 to 56 square meters, and is priced between P5.2 million and P10 million.
Among the amenities available will be adult and kiddie swimming pools, a clubhouse, a children’s play area, a garden area, a view deck, and an indoor gym.
The project will house 18 units per floor, a lower density compared to Avida’s earlier projects that usually have 25-30 units per floor, Herrero said, to give the residents more privacy.
Avida Towers Turf BGC will be at North BGC along 9th Ave. corner Lane S, at the heart of the CBD’s integrated mixed-use developments.
Streets will be on all its sides, as the project occupies an entire block.
“This means residents will see a wider distance from adjacent properties because of building setbacks. The larger spaces result in better airflow and ventilation,” Herrero said.
Since 2010, Avida Land has launched in BGC 4,101 residential units, 90 percent of which have been taken up.
The company has also launched in the area two office towers with around 448 units, 79 percent of which are sold out.