AYALA Land Premier (ALP), the luxury property brand of developer Ayala Land Inc., launched last week one of its biggest projects to date, replacing a site where an iconic hotel once sat.
The company said it expects Park Central Towers to sell at P20.5 billion. The project will be built on the same spot where the Mandarin Oriental Manila had regaled foreign visitors and the country’s pick and perfection for decades with its unique brand of elegant hospitality and architectural gravitas.
The first of the twin towers, Park Central South, will have 69 stories with 281 spacious private residences.
The tower has unit sizes starting from a two-bedroom unit at 138 square meters to a three-level penthouse unit, called Anadem Villa One, at around 1,635 sqm. Turnover is targeted by 2024.
It will rise across Ayala Triangle, and will have 12 unit designs and layouts.
“Park Central South Tower will sell for an average price of about P300,000 per square meter (sqm),” Ayala Land Premier managing director Jose Juan Jugo, told The Standard. “Unit prices range from P32 million to an unprecedented P477 million, with an average unit costing close to P80 million.
Jugo said that his company sold more than 40% or 116 units of the South tower to date, accounting for about P8.3 billion.
A luxurious condo property priced at P477 million is “the highest-value primary condo sold in the market today,” Jugo said.
Target market
With these unit prices, the Ayala Land Premier executive said the property is targeted for “high-networth people in their 40s or 60s” but he said this project had drawn interest from young affluent people and recent buyers were mostly end-users rather than investors who intent to lease out the units.
The luxury apartments in Park Central will come with distinct features. There are fifty-four Aquaview Villas, which feature their own private elevators and a 5.7 meter high living room area that flows out to a private plunge pool and lounge deck. At the corners of the tower are fifty-four Skyview Villas.
The Skyview Villas will not have private elevators or pool areas, but they feature floor-to-ceiling and wall-to-wall windows that wrap around a 5.7 meter high living room space.
Sheathed in glass
Meanwhile, fifty-four Gallery Villas will have their own private elevators opening up to a gallery where homeowners can feature works of art. The one hundred twelve Glass Suites are aptly named because all of the rooms feature floor-to-ceiling and wall-to-wall windows maximizing views and bathing these luxury apartments with natural light.
“There are only five units per floor. Since most units have their own dedicated private elevators, residents will likely not see each other in the elevator lobbies or lifts,” said Jugo.
The building’s unique architectural design includes special four-storey high common spaces called Sky Terraces that will house either a gym, swimming pool, residents’ lounge or spa. These Sky Terraces are distinctly visible from a nearly all-glass facade that sheathes the towers.
Anchoring the appointments and central location is an upscale retail podium that will house shops and restaurants.
The Leandro V. Locsin & Partners collaborated with Singaporean architectural firm, Soo Chan Design Associates (SCDA), and Japanese design group, Studio Taku Shimizu to come up with the design.
