MANILA, Philippines - Alveo Land Corp., the upper market subsidiary of property giant Ayala Land Inc., expects to generate P7.5 billion in revenues from a second residential tower to be launched this month in Quezon City.
Head of project development Jennylle Tupaz said the new tower, the second of its High Park development at Vertis North, would add 803 units of fresh inventory to the company.
High Park is Alveo Land’s pioneer high-rise development in the 46-hectare Vertis North, a P65- billion project touted to become Quezon City’s first organized central business district.
Following the successful launch of the first High Park tower last year, Alveo Land said it is now ready to introduce the second tower to the market in less than a year from the launch of the maiden tower.
Tupaz said the first tower, set to be completed by the third quarter of 2019, has drawn a majority of buyers from Quezon City.
Turnover of units for tower two, which are priced between P4.1 million to P17.4 million, meanwhile, is scheduled by the third quarter of 2020.
“We see local investors in Quezon City and Northern Luzon, with some foreign investors mostly coming from the US and the Asia-Pacific region,” Tupaz said.
High Park will be the first upscale residential address in Vertis North, which is already anchored by Ayala Land’s regional retail complex TriNoma.
“This is the district that caters to those who wish to pursue their entrepreneurial dreams by providing the facilities and necessities integral to enhancing skill, education, and training, as well as making your pursuits thrive. It promotes innovation through a diversity of locators, merchants, and institutions, as well as through fresh ideas and concepts that are unique to Quezon City,” Tupaz said.
With construction in full swing at Vertis North, Alveo Land remains aggressively in stride with the quick and astonishing pace of this next generation CBD. Launched in 2014, High Park, has proven that this real estate powerhouse always raises the bar in terms of market performance, selling out P2.7 billion in its first weekend of priority selling.
The 49-story second tower will offer 803 new upscale residential units in studio, one-bedroom, two-bedroom and three-bedroom formats with typical sizes ranging from 32 sqm to 123 sqm. Select units in this exclusive address will be looking out to the green vistas of the spectacular Vertis Park and High Park’s own scenic retail courtyards.
The unique proposition for High Park, in fact, builds on bringing the verdant garden landscapes typical of QC’s bedroom community to high-rise living spaces. Built on the concept of “vertical park living”, High Park is strategically located right next to the vast Vertis Park network, after which Alveo masterplanned its own adjacent modern park system and built the two iconic towers of High Park right above it. Thoughtfully designed, High Park reshapes the megacity’s urban landscape by inviting the grace of greens from the ground all the way up.
“High Park is the first Alveo Land project that has brought a terrestrial park experience to a vertical living experience. From al fresco parkside retail spaces to a lush landscaped amenity deck that bridges both towers, leisure and living thrives within High Park’s interactive environments. There are intertwining green spaces within the building design. Tower One has distinct sky gardens every three floors that allow residents to easily access fresh greenery, while Tower Two features a roof deck sky park and sky lounge that offers spectacular views of the surrounding Quezon City greenscapes,” said Tupaz.
The high-rise will also have a board room, function room, indoor fitness gym, outdoor and indoor play areas for children, and a refreshing lounge pool and kiddie pool.
Over 1,450 sqm of parkfront retail spaces for al fresco dining and cafes will be located on the ground floor. Five floors of basement parking will be available.