Avida Land sees sales from Balintawak condo

Avida Land Corporation, a subsidiary of Ayala Land, Inc., expects to generate 14 billion in sales revenue from the second tower of its multi-tower residence in Cloverleaf, Quezon City.

In a press briefing, Avida Land Vice President and Corporate Planning Group Head Raquel S. Cruz, said this is almost double the 12.2 billion generated by the first tower mainly because prices have already doubled.

Cloverleaf marks a 123-billion investment for property giant Ayala Land. The developer has so far spent 115 billion for phase 1 with about 42 percent of the entire estate completed.

The development is comprised of Ayala Malls with allocated BPO office spaces and residential buildings, plus a landscape promenade for pedestrians and commuters.

“Tower 2 of Avida Towers Cloverleaf represents a new and exciting opportunity for Avida buyers to experience not only the completeness of the Ayala estate lifestyle, but the convenient accessibility to public transport and connectivity to other parts of the metro from the north,” said Cruz.

Tower 2 units range in price from 14.1 million to 19.9 million or about 1190,000 per square meter. Tower 1 was sold for an average of 195,000 per square meter.

Avida Towers Cloverleaf has been the first residence to rise in the master-planned, mixed-use development. The first tower at 31 stories high, with 28 residential floors, is set for completion by the second half of 2019.

The second tower, meanwhile, will be the development’s highest at 36 stories high, with 33 residential floors. Tower 2 offers 848 units in studio, junior one-bedroom, one-bedroom and two-bedroom layouts.

Avida has marketed the property towards urban professionals, early nesters and entrepreneurs entering Metro Manila via Balintawak who would want a place to live in the city, as well as residents of Quezon City, CAMANAVA and the nearby Filipino-Chinese communities. (JAL)