Alveo sees P20 billion sales from latest BGC project

MANILA, Philippines — Alveo Land expects to generate P20 billion in sales from its latest high rise condominium, Park East Place, which marks Alveo, return to Bonifacio Global City in Taguig.

The project has already achieved a record setting P6-billion worth of sales for the launch, said Alveo Land president Mike Jugo, adding that this reflects homebuyers’ optimism on the property market and confidence in the Alveo brand.

“The success of Park East Place’s project launch reaffirms Alveo’s presence in BGC. The extremely strong reception is a clear affirmation of Park East Place’s unique project concept, strategic location, and trust in the Alveo brand,” said Jugo, who added that Alveo’s last project in BGC was way back in 2015, the Park Triangle.

This latest milestone solidifies Alveo’s stature as one of the most prevalent real estate developers in BGC today, he said.

As its 20th BGC project, Park East Place is now part of Alveo’s outstanding BGC portfolio, along with signature projects Two Serendra, High Street South and Park Triangle.

Alveo general manager Anton Sanchez, in a presentation to the media yesterday, said Park East Place will have an outstanding podium with angle fins, stone arcade columns, decorative aluminum cladding and a 50 percent glass ratio.

He also noted that BGC remains a sought-after residential and business address in Metro Manila. Key infrastructure projects driving its further growth include the recently opened BGC–Ortigas Link or the Santa Monica – Lawton Bridge, as well as the proposed Metro Manila Subway.

Strategically situated at the corner of 32nd Street and 9th Avenue – two major thoroughfares in BGC – Park East Place is in one of the most prime locations in the district, Sanchez said.

The new vertical community will have 59 physical floors, with 53 residential floors having a maximum of 10 units to a floor. Park East Place will house a total of 523 residential units, all with balconies. These will be in spacious configurations of one to three bedrooms, ranging from 61 to 131 square meters. Park East Place has an average price of 430,000 per sqm.

Alveo is a residential brand of Ayala Land, the listed property developer of the Ayala Group.