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© Alphaland Makati Place

Alphaland seeks P6b in sales from new project

Alphaland Corp., a real estate venture between London-based fund manager Ashmore Group and former Trade minister Roberto Ongpin, expects to generate up to P6 billion in sales from the upcoming two-tower high-end residential project in Makati.

Alphaland president Mario Oreta said in an interview during a project launching last week the company would offer 450 residential units for the first two towers. The company will build the towers on top of a club and shopping mall.

“We will not be offering units with a size of a shoebox. The towers will be designed by renowned architects... and we will not conduct roadshows to sell out units to overseas Filipino workers,” Oreta said.

A 63-square meter one-bedroom unit will cost P8 million while a 90-square meter two-bedroom unit will be priced at P11.35 million. A 120-square meter premium two-bedroom unit costs P15.1 million as it comes with special features, including foyer with storage and closet space, large open living area and spacious master bedroom with circular shower.

The units will be turned over to owners by December 2014.

All units are turnkey with premium finishes and include top-of-the-line appliances and bathroom fixtures.

Each unit also comes with an automatic member to the City Club, which Alphaland valued at P1 million per share.

The exclusive City Club, which offers 20,000 square meters of facilities and amenities, is scheduled to be operational by the end of 2012.

Alphaland Makati Place will rise on a one-hectare premium property at the former Boy Scouts of the Philippines property along Ayala Avenue Extension cor. Malugay Street.

The complex was designed from the ground up as an intelligent development with state-of-the-art building management, automation, and security systems, as well as energy-efficient mechanical, electrical, and sanitary systems.