Leading midrange developer Avida Land Corp., a subsidiary of property juggernaut Ayala Land Inc., is eyeing the working millennials, who want to leap into the “adulting” stage, in its latest project.
“We are looking at young, working Filipino millennials who are looking to adult. The experience of owning their own homes, especially one that promises the Ayala lifestyle experience, is an exciting prospect for them. Single professionals and early nesters looking for their own home near the Makati CBD will also be interested in this development,” Jojo Fabricante, head of the innovation and design group, Avida Land Corp., said in a press briefing.
Avida Towers (AT) Makati Southpoint, the company’s newest project, is along Chino Roces Avenue, Barangay Bangkal, Makati City. The project will be a three-tower residential condominium development with a retail component.
Raquel Cruz, vice president and head of corporate planning group of Avida Land Corp., said the first tower will have 28 residential floors and three podium floors, including the amenity area and retail on the ground floor. It will offer 924 residential units, with a choice of views of the amenity deck or the Makati and Bonifacio Global City skyline.
Makati Southpoint will offer this market right-sized residences, or units ranging from 23.30 square meter to 38.20 sq m for the first tower. These are studio units, junior one-bedroom and one-bedroom units.
Furthermore, Cruz said Avida developed a grand central lobby for all three towers to enhance security and convenience of the residents.
Avida projects in Makati have also become lucrative for property investors. “The occupancy rate for leased units is at 96 percent. Of that group, 97 percent are professionals aged 30 to 40 years old,” Fabricante said.
“The Ayala brand is generally very strong in Makati, being at the forefront of the development of major business, commercial and leisure districts in the city. Avida Land has been present in Makati since 2007 with several residential projects that build on the Ayala lifestyle experience,” Cruz explained.
Accessibility is one of the factors of Makati Southpoint that will attract the future buyers as the business and commercial districts of Makati are accessible to Edsa, SLEx, Pasay and Manila. It earned its name by being a converging point south of Makati; everything is within a 3-kilometer radius.
At Makati Southpoint is located on Don Chino Roces Avenue in barangay Bangkal, Makati, less than 2 kilometers from the Makati Central Business District. According to property-research firm Colliers Philippines, office supply in the outskirts of the Makati CBD will be surging as much as 68 percent over the next few years. Housing demand is expected to rise further in the area. Professional workers regularly taking a beating from traffic, safety and security issues, and bad weather have preferred to find smaller homes closer to their workplaces.
“Then, we have units that are ‘just right’ for the needs of this market. Everything is efficiently planned and well-thought-out. It makes a good home for a market that is on the move, that seeks comfort and convenience,” Fabricante said.
He said AT Makati Southpoint will provide amenities for both active and passive activities. For the active lifestyle, there will be open lounges for hanging out and a collaborative space that can function either for working or studying alone, or for small group discussions. Moreover, Fabricante said these areas function as an extension of the residents’ living spaces, where they can meet neighbors or just unwind.
It also has a number of amenities, including a clubhouse, indoor gym, children’s play area, swimming pool, kiddie pool, a jogging path and a linear park. AT Makati Southpoint will put retail units on the ground floor to complement the residents’ needs.
Fabricante said environmental sustainability has been factored in Avida projects. Makati Southpoint will have rainwater harvesting for irrigation, and sensor-controlled hallway and podium parking lights for efficient power consumption.
Like our other recent residential developments, Makati Southpoint uses water-efficient toilet fixtures, LED lights and low solar heat gain glass windows.
To keep abreast of the latest trends in the industry, Cruz said Avida Land keeps a close eye and pushes innovation in each project. She said AT Makati Southpoint has been designed specifically in response to the demands of a new generation, more mobile and more value-conscious buyers. “For young professionals seeking a more compact living area but with enough breathable spaces, this three-tower development may be the best choice,” she said.
“The market is a mix of Filipino millennials, single professionals and early nesters. This is a group seeking the adult experience of owning, living and investing in their own homes,” explained Fabricante, “The units were created around the idea of people who have a round-the-clock lifestyle, who are always on the go but want a restful home to sleep and unwind in Makati Southpoint has included a multifunction area and usable, open spaces to function as an extension of their living spaces.”
The collaborative space can let residents work on their own devices, meet up or read or do hobbies in a comfortable indoor space. The lounge areas on the amenity deck allow them to meet guests or just enjoy the outdoors. A retail area will occupy the ground floor, where a grand central lobby will also be located.
Makati Southpoint will eventually have three towers, but the first at 32 stories high has been moving fast in the market. About 40 percent of its launched inventory have sold out in the first month alone. Residences have a choice of the skylines of Makati and Bonifacio Global City on one side, or the refreshingly open amenity deck on the other.
Makati Southpoint units range from P4.4 million to P8.5 million. The first tower will be completed by 2024.
“We expect Makati Southpoint, given its location, amenities and features that are very specific to its market, to perform just as well. Just one month into selling and about 40 percent of the launched inventory has already been sold,” said Fabricante.