AVIDA Land Corp., the mid-range property developer of colossus Ayala Land Inc., is tapping the mobile millennial market for its newest development designed to address compact living spaces and the horrific traffic situation in Metro Manila, which results in loss of productivity and energy.
“We are targeting millennials working in Mandaluyong and central business distric ts in Makati, Bonifacio Global City [BGC], Ortigas and Quezon City for Avida Towers Verge. They made up the bulk of our buyers in Avida Towers Centera,” said Pol Tanco, Avida Land vice president for Project and Strategic Management Group, in a press briefing held on October 16 in Makati City.
“Most of them, about 64 percent are end-users. They are not only from Mandaluyong but from all over Metro Manila. About 54 percent of Centera buyers were at 35 years old and below, young working millennials choosing to move closer to their places of work,” he added.
Located along Reliance Street corner Mayflower Street in Mandaluyong, the three-tower residential condominium Avida Towers Verge is just a few minutes away from bustling Edsa. Moreover, Tanco said Avida Land is bullish the project will be able to replicate the success of Avida Towers Centera nearby—Avida’s first project in Mandaluyong launched in 2011 and now 97 percent sold with all four towers completed and ongoing turnover. Remaining inventory in Centera is currently being offered as ready-for-occupancy units.
Tanco noted Avida Towers Verge offers numerous attractions for the market. He said the Mandaluyong itself is a bustling city with several business establishments operating as well as also a shopping and entertainment locale. Access to the Verge is convenient as the Boni Avenue and Shaw Boulevard. Manila Metro Rail Transit stations and Edsa Avenue itself afford a fast track to different central business districts and beyond.
Meanwhile, the four-lane Santa Monica-Lawton Bridge, which will cross the Pasig River, will be completed by March 2020 and provide direct access to BGC.
“Verge rises on an area specifically designated for residential developments. Even with the busyness of Edsa just beyond, Verge still lies in a quieter area,” said Jojo Fabricante, Avida Land head for Innovation and Design Group.
In terms of the differences between Avida Towers Centera and Avida Towers Verge, Fabricante pointed out that Avida Towers Verge caters more toward millennials, offering Junior one-bedroom units and one-bedroom units. Avida Towers Centera, on the other hand, had a variety of unit types, specifically, Studio, one-bedroom, two-bedroom and three-bedroom units.
“In Verge, we offer the Junior 1BR unit. This type of residence adds a partial partition to a Studio unit that separates the bedroom area from the living and kitchen areas. It is compact and yet still provides privacy,” Fabricante explained.
For people who prefer a more tranquil atmosphere, Verge rises on an area specifically designated for residential developments. Even with the busyness of Edsa just beyond, Verge still lies in a quieter area.
As a three-tower development, Verge also offers more open spaces for everyone. In terms of the design concept, Fabricante said Verge focuses on convenience, right-sizing and a response to market trends on practicality, time and life priorities.
Fabricante said Avida Towers Verge offers two unit layouts. The Junior one-bedroom unit is an offshoot of the Studio unit’s design. A partial partition separates the bedroom from the common areas for living and dining. A Junior one-bedroom unit in Avida Towers Verge is about 22.90 square meters (sq m) in size. The unit layout has also become available in other recent Avida developments, such as Avida Towers Cloverleaf.
The one-bedroom unit with balcony, meantime, comes in at 33.81 sq m. Buyers are also given the option to combine two units.
“We observed that buyers in Avida Towers Centera preferred these very layouts. These types of units, in fact, were the first ones to become sold out. The units are just the right size to serve the needs of young professionals and at the same time, meet their budget. Market trends in the area further support this,” he added.
The Junior one-bedroom units are priced at P4.2 million to P4.4 million, while the one-bedroom units are at P6.7 million to P7.7 million.
Just like other projects, Tanco said residents in Avida Towers Verge will experience the much vaunted Ayala Land lifestyle, which gives premium on a number of sustainable features. Hallways and podium parking are equipped with light sensors for energy efficiency. Residential unit windows use low-heat-gain glass that lowers the amount of heat entering a room, saving costs on air conditioning. A rainwater-harvesting feature lets the collected water be used for irrigating gardens, instead of using water from utility providers.
“Verge adopts the millennial trend of compact living, convenience, sustainability and managing one’s time and life. The design really focuses on what that market really needs at their life stage,” Fabricante said.
Avida Towers Verge’s first tower will rise 34 stories high and offer 1,020 residential units. The amenity deck will feature a high-ceilinged clubhouse, an indoor gym, play area, adult and kiddie swimming pools, gazebos and landscaped spaces.