Avida to build P4.4-B office tower

MANILA, Philippines - Avida Land, the mid-market brand of property powerhouse Ayala Land Inc., is following up the success of its maiden venture into office spaces with a new P4.4-billion office development to rise in Bonifacio Global City.

Avida Land said it is gearing up to break ground for its second office project in its portfolio, Capital House, next month.

Instead of traditional office tower which caters mostly to the business process outsourcing (BPO) sector, Capital House will be a 26-story boutique office building targeting small and medium enterprises.

“The offices available in this market (BGC) mostly cater to BPOs and multinationals.  Most offices here typically offer units with modal of 250 square meters. Capital House offers the right fit for SMEs, professional firms and those looking to have satellite offices with a BGC address,” said Pol Tanco, Avida Land project and strategic management group head.

Tanco said the project is expected to be completed by December 2017 and set for turnover by the second quarter of 2018.

Capital House will be situated near activity centers such as Turf BGC all-weather football field, Flying Trapeze PH, Active Park and the upcoming BGC Sports Complex and Kidzania.

Avida Land’s five residential offerings and its first office project are also located near the Capital House.

The ALI unit said design firms, ad agencies, holding companies, and front end offices of manufacturing and trading offices have already reserved their office spaces in the upcoming building.

The office units in Capital House will be for sale at prices ranging from P9.9 million to P25.6 million.