Avida Land, a unit of property developer Ayala Land Inc., is spending P1 billion to build the company’s first low-rise, single-tower residence in Makati City called One Antonio.
Avida Land assistant vice president for project and strategic management group Herbert Herrero said in a news briefing the six-story residence would rise on a 7,059-square-meter property at Sacred Heart Street in Barangay San Antonio.
The project is a low-density development with only 198 units to be sold at a starting price of P8 million per unit or P150,000 per square meter.
Unit sizes range from 56 to 60 square meters for a two-bedroom unit and 62 to 66 square meters for a three-bedroom unit.
“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. It is also poised to attract investors who are interested in renting out units to Makati-based professionals, or who see the high re-sale value of a Makati property,” Herrero said.
Total sales value for tOne Antonio project is expected to reach P1.7 billion. Turnover of One Antonio units is expected in September 2019.
The property is situated in a quiet residential corner 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 two-kilometer radius.
Herrero said One Antonio’s unique design from other Avida developments was conceptualized to complement the peaceful neighborhood community of Barangay San Antonio.
Avida Land has a long established presence in Makati with three developments under its belt—Avida Towers Makati West, Avida Towers San Lorenzo and Avida Towers Asten.
Avida Land launched 3,354 units of the said Makati developments, with at least 87 percent sold, generating P7.85 billion in total revenues.
Herrero said the company was confident about fast take-up of units at One Antonio.