Condo for millennials on the verge of success
Avida Land Corp., the mid-range brand of property giant Ayala Land Inc., is targeting a young, upwardly mobile market – the so-called millennials - with compact living spaces conveniently closer to work.
The company has launched Avida Towers Verge, its second condo offering in Mandaluyong, is located along Reliance Street corner Mayflower Street, just a short distance away from bustling EDSA. The property expects to replicate the success of Avida Towers Centera nearby—Avida’s first project in Mandaluyong launched in 2011 and now 97 percent sold with all four towers completed and ongoing turnover. Remaining inventory in Centera is currently being offered as ready-for-occupancy units.
“We are targeting millennials working in Mandaluyong and central business districts in Makati, BGC, Ortigas, and Quezon City for Avida Towers Verge. They made up the bulk of our buyers in Avida Towers Centera,” said Pol Tanco, Avida Land vice president for Project and Strategic Management Group.
Avida Towers Verge poses several attractions for the market. Mandaluyong buzzes with business and commerce, but is also a shopping and entertainment locale. The Boni Avenue and Shaw Blvd. MRT stations, and EDSA Avenue itself afford a fast track to different central business districts and beyond. The fourlane Sta. Monica-Lawton Bridge, which will cross the Pasig River, will be completed by March 2020 and provide direct access to BGC.
“Verge rises on an area specifically designated for residential developments. Even with the busyness of EDSA just beyond, Verge still lies in a quieter area,” said Jojo Fabricante, Avida Land head for innovation and Design Group.
Avida Towers Verge offers two unit layouts. The Junior one-bedroom unit is an offshoot of the studio unit’s design. A partial partition separates the bedroom from the common areas for living and dining. A Junior one-bedroom unit in Avida Towers Verge is about 22.90 sqm in size. The unit layout has also become available in other recent Avida developments such as Avida Towers Cloverleaf.
The one-bedroom unit with balcony, meantime, comes in at 33.81 sqm. Buyers are also given the option to combine two units.
“We observed that buyers in Avida Towers Centera preferred these very layouts. These types of units, in fact, were the first ones to become sold out. The units are just the right size to serve the needs of young professionals and at the same time, meet their budget. Market trends in the area further support this,” he added.
The Junior one-bedroom units are priced between P4.2 million and P4.4 millon, while the one-bedroom units are between P6.7 million to P7.7 million.