Soon to rise is Paseo de Magallanes, a 5.6-hectare development with 48 residential and 22 commercial lots. All of the Paseo de Magallanes’ residential lots were sold a week after they were offered to the public late April. As of this writing, 50 percent of the commercial lots have been taken up by the market.
The brisk sales rate is all the more noteworthy because it happens at a time characterized by widespread concern over the failed May 1 siege on Malacañang and the spate of Abu Sayyaf atrocities.
Ayala Land vice president for sales and marketing Marivic Añonuevo believes her company is simply meeting the "pent-up demand" for Paseo de Magallanes’ unique and premium location.
Paseo offers access to the high-end market for Magallanes and stands in the middle of two major business and commercial hubs.