ALP eyes P12.7B from QC tower
Credit to Author: LISBET K. ESMAEL| Date: Tue, 17 Sep 2019 16:14:34 +0000
THE luxury brand of listed real estate giant Ayala Land Inc. expects to generate P12.7 billion in sales from its first residential tower in Quezon City.
At a briefing on Tuesday, Ayala Land Premier (ALP) Marketing Manager Tomas Cadiz said the project — the P7-billion, 55-story Parklinks North Tower — received a “great response” from the market, while ALP Head of Sales and Marketing Paolo Viray told reporters that the company had sold close to 70 percent of the structure almost 10 months after its launch.
Parklinks North Tower initially had a selling price of P280,000 per square meter (sqm), but has been increased by 15 percent to P320,000/sqm since November.
According to Viray, 90 percent of the buyers are Filipinos, mostly from the cities of Quezon, Pasig and Makati. The project has also been gaining traction among among entrepreneurs and repeat clients, he said.
The tower will rise on Parklinks, a 35-hectare, master-planned, mixed-use and sustainable estate that ALP envisions would be the greenest urban community in Metro Manila.
The tower boasts of 280 units with one- to four-bedroom configurations. The units, ranging from 70 sqm to 306 sqm, are priced between P22 million and P120 million.
Unit turnovers would start by the third quarter of 2025.
ALP is also set to launch Parklinks South Tower in the “next few weeks,” Viray said, from which the company expects to raise P14 billion in sales.
Ayala Land shares dropped by P1.10 or 2.20 percent to finish at P48 each on Tuesday.