AVIDA Land Corp., the middle-income brand of developer Ayala Land Inc., on Monday said it is investing P1 billion to build the company’s first low-rise, single-tower residence located in Barangay San Antonio in Makati.
The six-story residence has a low density of only 198 units in a 7,059-square meter (sq m) property on Sacred Heart Street in Barangay San Antonio, Makati. With unit prices starting at P8 million, the company said it is selling the units at an average of P150,000 per sq m.
The company is expected to sell P1.7 billion from the entire project.
“One Antonio will appeal to end-users seeking a home closer to the business district, who see Makati as a central location, or who may be empty nesters considering downsizing,” Herbert Herrero, Avida’s assistant vice president for project and strategic management group said.
“It is also poised to attract investors who are interested in renting out units to Makati-based professionals, or who see the high resale value of a Makati property,” he said.
The property is situated in a residential area of San Antonio Village with nearby landmarks, such as the Makati Central Police headquarters, Makati Central Post Office and Makati Medical Center.
Offices, schools, churches, foreign embassies and commercial districts, such as the Ayala Triangle Gardens and Ayala Center, are within a 2-kilometer radius.
Avida is the fourth developer in the area and the first residence with a low, single tower in a T-shaped design with single-loaded corridors and a landscaped atrium at the center. All units come with a balcony and 100-percent parking provision in the ground-level and basement-level parking spaces. About 60 percent of the property is given to shared open spaces.
One Antonio’s design from other Avida developments was conceptualized to complement the peaceful neighborhood community of Barangay San Antonio, the company said.
“Thus, the low-rise, single-tower residence was styled to offer its future residents condo-village living in the heart of the city,” Herrero said.
One Antonio units are in two-bedroom designs at 56 sq m to 60 sq m and three-bedroom units at 62 sq m to 66 sq m.
Turnover of One Antonio units will begin in September 2019.
Avida has three shed developments in Makati: Avida Towers Makati West, Avida Towers San Lorenzo and Avida Towers Asten.
With 87 percent of the 3,354 units in its launched inventory sold, Avida’s Makati developments have given the company some P7.85 billion in total revenue to date.