By Arra B. Francia
AYALA LAND Premier (ALP) has ventured into its first project in Quezon City with a two-tower residential condominium seen to fetch over P26 billion in sales.
The luxury property unit of Ayala Land, Inc. (ALI) on Tuesday said it has already sold about 70% of the project’s first tower, Parklinks North Towers. The 55-storey building is seen to generate P12.7 billion in sales, against a project cost of around P7 billion.
“Our buyers are mostly local, close to 90% are local from Quezon City, Makati, and the Pasig area. A lot of them are entrepreneurs, a lot are repeat buyers or those who purchased an ALP property in the past,” ALP Head of Sales and Marketing Paolo O. Viray said in a press briefing in the company’s showroom in Bonifacio Global City yesterday.
Since its launch in November 2018, prices in Parklinks North have appreciated 15% to P320,000 per square meter (sq.m.).
Parklinks North offers a total of 280 units with one-bedroom to four-bedroom layouts ranging from 70 to 306 sq.m. Units are priced from P22-120 million.
Amenities in the tower include an outdoor lounge, pool complex, fitness center, social hall, children’s play area, and sports court located on the 10th floor.
Parklinks North is scheduled to be completed in the third quarter of 2025.
ALP said it will also launch Parklinks South within the next few weeks, given the robust demand seen in the first tower.
Mr. Viray said Parklinks South will have a similar layout, but will offer more units at 313. The price of each square meter could average at P310,000 to P315,000, for a sales value of close to P14 billion for the entire tower.
The second tower is expected to be completed in 2027.
The residential condominium project will be located inside the 35-hectare mixed use estate Parklinks, a joint venture between ALI and Eton Properties Philippines, Inc. (EPPI). The township will connect parts of Quezon City and Pasig City through a bridge.
The towers will be directly connected to Parklinks Mall, a five-storey lifestyle mall covering 51,000 sq.m. of leasable space. The mall will house a sports center, six cinemas, office spaces, and a mix of retail and dining options.
It will also stand next to the River Esplanade, or an open civic park that will feature dining establishments.
ALI and EPPI said last year that it will spend P53 billion to develop Parklinks over the next 10 years. Launched in January 2018, the company has already begun development for 16 hectares in the estate. This is set to be completed in November.
The companies have also started construction for the 110-meter bridge that will be completed by the first quarter of 2021.