PROPERTY developer Ayala Land, Inc. (ALI) said over the weekend it has commenced construction of its second dormitory unit, “The Flats Amorsolo” in Makati City, that will cater to working professionals and those working in the business process outsourcing (BPO) industry.
“These residential projects reflect the best learnings from our core businesses of residential, retail and office leasing, as well as hospitality,” said Sheila Aguilar, project development manager of ALI Strategic Land Bank Management Corp.
“The Flats specifically address a growing market of BPO employees and other workers who want to avoid long commutes, as well as a millennial segment that prefers mobility and convenience over the need to own a home,” she added.
The Flats Amorsolo will rise as a 15-story building at Amorsolo corner De la Rosa Streets and will tap into a BPO population of around 500,000 BPO in the neighboring area.
The project development will offer 22-square-meter (sqm) residential units that can accommodate a maximum of four tenants.
Each unit is designed with built-in beds, workstations and ample storage, as well as a kitchen and bathroom.
The building will be internet-equipped and will be covered by key card access security for residents.
ALI said the ground floor of the building will have basic retail amenities including laundry shops, a water refilling station, and a convenience store.
“The Flats are affordable yet best-in-class Ayala Land offerings that provide today’s young professionals with accessibility, convenience and quality living,” said Aguilar.
The project development is targeted to open in the third quarter of 2018.
Just recently, ALI’s subsidiary Fort Bonifacio Development Corp., announced the groundbreaking of “The Flats BGC at 5th Ave,” a development compared to The Flats Amorsolo.
The project will rise along BGC’s 5th Avenue, across St. Luke’s Medical Center, and will be accessible to major thoroughfares EDSA, Kalayaan Ave., C-5 Road, and 32nd avenue.
A total of 375 units will be available upon completion, with 16 floors, and will provide a total of 1,500 beds.
ALI is the property unit of conglomerate Ayala Corp.