To sustain its robust growth in the middle-income residential sector within Metro Manila, real estate developer Avida, a wholly-owned subsidiary of Ayala Land, Inc., intends to invest P7 billion over the next five years in in-city condominiums targeted towards junior executives, professionals and start-up families.

At the soft launch of its fourth Avida Towers last July 17, executives of the affordable housing arm of Ayala Land disclosed that it was seeking to construct close to 1,800 residential units this year alone in various metropolitan locations with access to public transportation and retail centers. It projected putting on stream 16 residential towers over the next four years in various locations with each tower averaging 375 units or 6,000 units total.  Last year, Avida launched 8 towers over the last four years in 3 key cities in Metro Manila.

Nevertheless, Leo Montenegro, Avida president and CEO, observed that the 861-unit Avida Towers Makati West, the newest addition, was for now the crown jewel of the company’s residential condominium line because of its proximity to the Makati Business District.

He further related that “our affordable packages are prodding more Metro Manila residents to purchase units in our developments so they can live near their places of work or study.” Avida Towers projects are also found in the Santolan area in Q.C., Sucat in Paranaque , and in Sta. Cruz, Manila . It is finalizing plans for other developments in other in-city sites.

Avida Towers Makati West is located along Malugay, Yakal and Lumbayao streets in San Antonio Village, Makati . It will offer 861 units spread in two buildings built with more then 50% of the 6,400 sqm lot property dedicated to open spaces and landscaped areas.  Buyers of Avida Towers Makati West will have the option of selecting from studio, one- and two-bedroom, garden and penthouse units. Each of the units offers high ceilings and large windows to allow for good natural lighting and ventilation. 

Chris Maglanoc, Avida vice president for project development, pointed out that “Avida condominium projects address the needs of the affordable housing segment composed of hardworking middle-class managers, professionals and employees.” Its market includes OFWs who in 2006 made up 26% of Avida sales across all residential product lines including house-and-lots in 13 locations throughout Luzon. As of the first half of the year, OFWs accounted for 40% of Avida sales.

Avida products range from P900, 000 to P3 million. At the newly launched Avida Towers Makati West, a 21-sqm. studio unit requires a monthly amortization of P13, 000 – just a little over the rental cost of an apartment in Metro Manila.

Montenegro expects that because of the prevailing low-interest environment, attractive terms offered by banks and the sustained inflow of OFW funds, units at Avida Towers Makati West will be quickly taken up. It may even break the record set by Avida Towers San Lazaro in Sta. Cruz, Manila which was sold out four months after its January 2006 launch.

Aside from its proximity to the Makati CBD, Avida Towers Makati West is an exceptional investment opportunity because of good property management which pushes up the values of the development long after the last unit has been sold.

To know more about Avida Towers Makati, please contact (02) 753 1111 or visit www.avidaland.com