PROPERTY developer Alphaland Corp. expects to register sales of P700 million from its residential units in the Makati Place project.

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“We have started selling the residential units. We expect sales to hit P700 million for the 545 units,” Rafael Ongpin, Alphaland project director, told a press briefing in Makati City Thursday.

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Ongpin said the company would turn over the residential units to buyers by December 2014. The residential units are in the first two towers of the three-tower, 55-floor Makati Place project on a one-hectare property along Ayala Avenue Extension corner Malugay Street in Makati. The third tower will house a hotel.

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Ongpin said all units come with a complete set of appliances. One-bedroom unit costs P8 million; two-bedroom, P11.35 million; and premium two-bedroom, P15.1 million.

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Ongpin said each unit would have an automatic membership to the City Club, which is valued at P1 million apiece. “The ownership of these shares are attached to the ownership of the unit and cannot be detached and sold separately,” Ongpin said.

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The three-floor City Club—located on the fourth, fifth and sixth floors—will house several facilities that include a fully-equipped, state-of-the-art athletic complex, spas, pool and jacuzzi areas, children playground, eight specialty restaurants and function rooms.

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“It is set to be the newest and most dynamic business and leisure hub in Makati’s business district,” Ongpin said.