MANILA, Philippines - Avida Land is drawing small and medium enterprises to Bonifacio Global City (BGC) with its second boutique office for sale, the 26-story Capital House. The project is valued at P4 billion, and was specifically designed for professional firms, boutique agencies, and entrepreneurs seeking a BGC address.
Avida, a subsidiary of Ayala Land Inc., is launching Capital House as a sequel to the One Park Drive office project also in BGC. One Park Drive, at 20 stories high, is also geared for SMEs, and sold out at a P2.5 billion value on its first year of selling alone.
“We see a good market for businesses seeking a sought-after address like BGC, as evidenced by the success of One Park Drive. Capital House positions movers into an area primed for success with world-class amenities,” said JoJo Fabricante, Avida’s Innovation and Design Group head.
He noted that most office spaces in BGC were tailored for large-scale operations such as BPOs and multinational conglomerates. Units are not smaller than 100 sqm. with modal offices at around 250 sqm.
Capital House has 222 units with sizes ranging from 62 sqm to 159 sqm., with special whole floor units at 1,400 sqm. The project sells for P9.9 million to P25.6 million.
Office units are appropriate for about 6 to 20 employees. This size has already attracted a number of law firms, architectural studios, and creative agencies to locate at Capital House, which currently has about 12 percent take-up.
On the ground floor will be retail spaces for dining and shopping. The building will also feature an open deck, a roof deck and numerous parking slots. Owners will have 344 slots while 110 slots will be reserved for visitors.
Capital House is also organized for greater flexibility and convenience of start-ups and expanding businesses. Multi-purpose rooms and conference rooms can be leased so owners can expand their office operations without adding to their investment.
Rather than centralized airconditioning, Capital House features individual systems for office units. Businesses will have full control of their cooling, providing a more economical set-up that will not add up to association dues.
Avida is also offering unit owners with leasing services to help them find tenants for their spaces.
“Right now, our buyers are a mix of investors and end-users. As the Philippines becomes a booming real estate market, more and more investors are inclined to buy a mix of residential and office developments. We’ve also noted an increasing rise among foreign buyers for our offices,” said Herbert Herrero, Avida Project Development manager, Metro Manila and Luzon Area.
The property is located in BGC’s “Active North” district, along 34th St. corner 9th Ave., near such active lifestyle attractions as the Turf BGC all-weather football field and Flying Trapeze Philippines. Soon to rise in the area are the BGC Sports Complex and Kidzania, a family “edutainment” center.
Avida boasts of five residential condominiums near their BGC office projects, four of which are within walking distance of Capital House. This large footprint across the city embodies Avida’s live-work-play balance for developments. All the elements for this lifestyle are carried in its growing range of products.
Commemorating 25 years this year, Avida has consistently been top ranked among developers in the entry-level property segment.
To date, Avida has built 60,000 homes across 73 projects in 29 strategic locations nationwide, making it the Ayala Land subsidiary with the most number of projects and broadest geographic presence in the country. This includes South Park District, its first large-scale, masterplanned mixed-use estate in Muntinlupa.