Alveo Land, a unit of property developer Ayala Land Inc., is set to launch the fourth and last tower of its signature condominium development within the 74-hectare Arca South in Taguig City, which will generate up to P1.9 billion in sales.
Alveo Land senior division manager Antonio Sanchez III said in a news briefing the four-tower Veranda, introduced in 2014, was initially programmed to be launched over a period of four years.
He said because of the strong 80-percent sales takeup for the first three towers, Alveo Land was now ready to launch the final tower two years after the project was launched.
“All four towers were initially projected to sell-out in four years. However, in less than two years, we are now launching our final tower with current inventory substantially sold out,” Sanchez said.
He said the last tower would offer 195 units ranging from P4 million for a studio unit to P44 million for a three-bedroom unit.
Sanchez said Veranda’s estimated property value rose 8 percent in just two years as the first two towers, West Veranda and South Veranda were launched at P130,000 per sqm in 2014, with East Veranda following at an average of P137,000 per sqm in 2015.
The final tower called North Veranda would be sold at an average price of P140,000 per sqm.