AVIDA Land Corp., the mid-market brand of Ayala Land Inc. (ALI), said it is set to build a low-rise residential tower project in Makati which is expected to generate P1.7 billion in sales.
One Antonio is the fourth of its targeted 15 projects for this year with an estimated total sales value of P30 billion. Three other projects launched earlier are Avida Tower Makati
West, Avida Towers San Lorenzo and Avida Towers Asten.
The new residential tower will rise on a 7,059-square-meter lot in Barangay San Antonio, Makati City and will have a total investment cost of P1 billion.
The six-storey single-tower residential development is Avida’s first low-rise and low-density project, with only a total of 198 units.
In a media briefing on Monday, Herbert Herrero, Avida assistant vice president for project and strategic manage-ment group, noted that the company classifies low-rise developments as buildings that are only four to six stories high.
The project will offer two- and three-bedroom units. The two-bedroom units will range in size from 56 to 60 square meters and will be priced at P8 to 9 million each, while the three-bedroom units will range in size from 62 to 66 square meters with a price tag of P9 to 10 million.
“One Antonio will appeal to end-users seeking a home closer to the business district, who see Makati as a central location, or who may be empty nesters considering downsizing. It is also poised to attract investors who are inter-ested in renting out units to Makati-based professionals or who see the high re-sale value of a Makati property,” Herrero explained.
The development will have an open ground area that would offer residents a lawn, pavilion, adult pool and kiddie pool, landscaped gardens, outdoor seating area, fitness area, playground and a jogging path around the building.
“All units come with a 5-sqm balcony and 100 percent parking provision at ground level and basement level parking spaces. About 60 percent of the property is given to shared open spaces,” Avida said.
“We are hoping that within the year, we’ll be able to sell this one out,” Herrero said.
According to Avida head of project and strategic management group Pol Tanco, about 10 percent of the project’s inventory has already been taken up through pre-selling activities for select clients.
Tanco noted that the public launch of the project will be this Thursday while turnover of the residential units is tar-geted for September 2019.
One Antonio is located along Sacred Heart Street in San Antonio Village in Makati City.
The low-density project is Avida’s fourth project in Makati City, and is also its fourth project to be launched this year.