Avida Land eyes P12.9B from new three-tower residential dev’t in Makati

Ayala Land Inc.'s mid-range property developer Avida Land is eyeing at least P12.9 billion in sales from its new residential project Avida Towers (AT) Makati Southpoint.

In a press conference in Makati City on Tuesday, Avida Land said it plans to generate at least P4.3 billion from each of the three towers of its AT Makati Southpoint.

The first tower is scheduled to be formally launched on Thursday, February 28. This includes 32 floors consisting of 28 residential and several podium floors, with a total of 924 residential units and 247 parking units.

"We expect Makati to contribute 8 percent of our residential revenues this year. Our success here will continue with Makati Southpoint, which will fulfill the need of a changing market," said Avida vice president Raquel Cruz.

Located on Don Chino Roces Avenue in Barangay Bangkal, Makati, the Makati Southpoint project will be selling at P197,000 per square meter—P4.4 to P4.5 million for studio units at 23.3 square meters; P4.5 million for the junior one-bedroom; and P8.1 million to P8.5 million for a one-bedroom unit with 38.2 square meters.

According to the company's Metro Manila business area head Reginald Alabe, it expects to sell out the first tower within 12 to 18 months, with 40 percent of its launched inventory already sold.

Among the amenities of the project are a clubhouse, an indoor gym, children's play area, swimming pool, kiddie pool, a jogging path, and a linear park.

Alabe said the second tower is scheduled to be launched late next year or early 2021, but did not give a schedule for the launching of the third tower. — BM, GMA News