Sales of Ayala Land Premier’s new condo hit P3.9B
AYALA LAND Premier (ALP) on Tuesday reported sales for Arbor Lanes, its luxury condominium project in Arca South, Taguig, has reached already P3.9 billion.
In a briefing at its showroom in Makati City, ALP officials said the sales represent 74% of the first three of the five residential blocks in the property, making it the luxury brand’s best-selling project this year.
Arbor Lane’s three blocks consist of 594 units, translating to a combined inventory value of P12.4 billion. On average, the sales value of each building stands at between P6 billion and P6.5 billion.
The luxury unit of Ayala Land, Inc. (ALI) attributed the positive sales performance to the location of Arbor Lane, which is near the Ninoy Aquino International Airport, the Makati Central Business District and Bonifacio Global City (BGC).
“The success of Arbor Lanes has been driven by three things, location of Arca South, access advantages and scale. In terms of location, it’s extremely strategically located. Arca South is less than 5 kilometers from the airport... Even its proximity to BGC, probably 10 to 15 minutes, and then Makati... within 15 minutes,” ALP Managing Director Mike Z. Jugo said during the briefing.
Around 60% of Arbor Lanes is dedicated to open space, with 80% of the units facing the garden amenities. The property offers three- to four-bedroom bi-level units with private gardens spanning 74 to 111 square meters (sq.m.) each, on buildings with 13 to 15 storeys.
Unit prices range from P11 million for one-bedroom units (60 sq. m.), P28 million to P30 million for two-bedroom units (109 to 164 sq.m.) to P85 million for penthouse units (360 sq.m.), with each square meter priced from P160,000 to P220,000.
Classic, Grand, Special Units, and Duo Suites all contain garden lounges, which expands the living room and allows residents to maximize the natural light that enters their units as well as ventilation.
The Duo Suites feature an auxiliary studio unit attached to a one or two-bedroom unit, making it possible for older children or extended families to stay within the unit while still maintaining privacy.
“This would be perfect if one of the grandparents would be here during the weekdays, and yet they have their own space... Here the difference is the parents or the grandparents can have their own studio unit, they can lock it up and it’s fine,” Mr. Jugo explained.
The Canopy Pool Villa, located on the topmost floor of the property, features a 22-sq.m. private pool deck and lounge. The Canopy Suites, also located on the highest floor, has a double-height ceiling in the living and dining areas.
Amenities include garden terraces which integrate alcoves with the building’s architecture. Tree wells, or trees rooted from the basement parking and spiking to the ground floor amenity level, allow for minimal sunlight exposure, while window systems with operable awnings give the property natural ventilation.
Mr. Jugo noted that most of the buyers of the property are end-users.
“An end-user would be someone in their late 30s to late 40s, a very young family wanting to live closer to the city and needing a twobedroom or three-bedroom unit. And then you also have foreigners... which is slightly more than our usual, which I think is because of our proximity to the airport, proximity to the city, BGC, and even the Bay Area,” Mr. Jugo said.
The first tower of Arbor Lanes will be ready for turnover by the first quarter of 2018, with the second and third towers set for the second quarter of 2019 and first quarter of 2021, respectively.
Mr. Jugo said a fourth tower will be launched by the fourth quarter of 2018, with the fifth tower to follow in about a year “as long as sales are good.”
Arbor Lane, a 34,898- sq. m. development, stands amid the 74-hectare Arca South in Taguig, which will house retail, commercial, and office projects.
The retail segment of the property will be through Ayala Malls with 72,000 sq.m. in gross leasable area (GLA) as well as a retail park and lifestyle center. The shopping mall is slated to open in 2019.
Meanwhile, the office development will feature six towers for business process outsourcing firms, totaling 15,000 sq.m. to 17,000 sq.m. in GLA. All towers are expected to be completed by 2019.
Arca South will also have a Seda Hotel with of 265 rooms set to open in 2019.