ALVEO Land Corp. is expecting to raise P9 billion with a new high-rise residential condominium in Makati City.
The upscale unit of Ayala Land, Inc. (ALI) launched the Parkford Suites Legazpi project, which has so far garnered P2 billion in sales when it was launched three weeks ago.
The 35-storey building offers 163 units and 330 parking slots within the 2,156-square meter (sq.m.) property located on the corner of Gamboa and Salcedo streets in Legazpi Village and faces Washington Sycip Park and Legazpi Active Park.
“Legazpi Village has transformed into an upscale and social community through the years… Parkford Suites Legazpi offers this rare opportunity to be right in the middle of it all,” Alveo Land Chief Operating Officer Rufino S. Gutierrez said.
The limited units available in the development is intended to create an “exclusive” community within the condominium, which boasts of a hotel-like ambiance with high ceilings, wide hallways and a glass facade.
The building only offers two-bedroom and three-bedroom units with an area of 125-142 sq.m. and 180-181 sq.m, respectively. Average selling price is P55 million per unit or P370,000 per square meter.
Mr. Gutierrez said the buyers so far are either corporate or individual customers, a majority of which already live in Makati and are “probably either (looking for) a second home or something that they want to lease out or let their kids use.”
“Corporate (customers) are those who invest and either lease or let their top executives use it. The individuals, they are basically entrepreneurs or top executives,” he added.
Project turnover is scheduled in late 2026.
Parkford Suites Legazpi will be Alveo Land’s 10th residential project and 17th tower in the Makati central business district in 17 years. Mr. Gutierrez said all of the company’s residential projects have sold out and continues to appreciate, making Makati City a continuously attractive location for the developer. — Denise A. Valdez
