MANILA, Feb. 26 (PNA) –- Listed property giant Ayala Land Inc. affiliate Alveo Land expects Php4.4 billion in sales from its first office condominium development project located at its mixed-use development, Circuit Makati.
Jennylle Tupaz, Project Development Group head of Alveo Land, said the flourishing business process outsourcing (BPO) sector and local businesses are driving demand for office spaces in the country.
“I think the Philippine economy right now is in a very good sweet spot,” she said.
Tupaz said the two-tower office condominium development project, Stiles Enterprise Plaza, can be a bright investment option for office seekers for both local and international companies, including potential markets in Singapore, Japan and Indonesia.
“As an office for sale project, the Stiles Enterprise Plaza, will be ideal for local companies and SMEs (small and medium enterprises), including entrepreneurs and creative professionals,” she said.
The development’s West Tower will rise first, with an average of 15 units per floor and 283 total units. The 29-storey building will cover a 2,460-square-meter space with office units ranging from 79 square meters and 180 square meters.
Tupaz said the Stiles Enterprise Plaza West Tower will be launched this Saturday.
“Right now, we have very good interests…Hopefully within a year’s time, similar with other developments, we should be able hit a significant take-up for the tower,” she added.
Tupaz said they expect to significantly sell out the office units within the next two years.
The project will be turned over by the fourth quarter of 2019. (PNA)