Ayala Avenue has new gem

posted October 02, 2015 at 06:30 pm
by  Joel Lacsamana

Alveo Land, an Ayala Land subsidiary,  will build  the Alveo Financial Tower at 6794 Ayala Avenue, Makati City, a 49-storey headquarter-type office condominium development envisioned to reshape the Philippines’ business capital.

The project will serve as the lynchpin to Ayala Land’s new P20-billion corporate creative node, City Gate. It will connect businesses and enterprises to a mixed-use district that includes retail establishments, premium hotel accommodations, condominium residences, and integrated open spaces.

Making its mark at the CBD. Alveo Financial Tower sold 60 percent of its units, or over P5.8 billion in sales,  in a one-day selling event held last week.

“Alveo Financial Tower will be a major component of City Gate,” said  Jennylle Tupaz, head of project development group for Alveo Land.  “City Gate includes 81,000 square meters dedicated to leasable office spaces and 14,000 square meters for retail options. It will feature prominent civic spaces designed for convergence, a rarity within the concrete jungle of Makati City.”

Tupaz added that residential developments will also rise along with the district with Alveo Land’s own Kroma Tower and The Lerato already launched in recent years. A 312-suite Seda-brand Ayala hotel is also included in the scheme, as well as elevated walkways that interconnect the district, and stretches all the way to Ayala Center, she said.

Sustainable regeneration

Alveo commissioned Seattle-based structural consultant Magnusson Klemencic Associates (MKA) and local engineering firm Sy^2 + Associates to do structural integrity tests on the former JAKA Tower. After a three-month review process, Sy^2 and MKA both  pronounced the foundation as sound and fit for use. Alveo Land then master-planned the skyscraper, which it said will serve as a design catalyst for the regeneration of Ayala Avenue.

“We are excited to contribute to and drive sustainability in architecture in the Philippines, and hopefully pave the way for other developers to follow a similar path of innovation and architectural reuse,” said Tupaz.

The Alveo Financial Tower will be LEED-certified with amenities and facilities to add efficiency and value to an enterprise’s daily experience. These sustainable initiatives translate to an architectural design with provisions for efficient energy and pollution control management.

Investment opportunity

Alveo Financial Tower sits on a 2,400-square-meter plot of land, featuring 48 floors plus a utility roof deck totalling 63,739 square meters of gross floor area. There are 363 office units for sale and the tower’s turnover is slated for 2020. Intelligent and high technology features will be fitted into the construction of the development, including the latest in Radio Frequency Identification (RFID) technology.

Alveo Financial Tower expects investment returns to be as high as 6% (based on current lease rates in the Makati CBD). “With its location on Ayala Avenue, Alveo Financial Tower becomes a rare investment opportunity for businesses wanting to be part of the most prestigious corporate address in the country,” said Tupaz.

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