Saturday, March 7, 2015

Alveo to build office condo in Circuit Makati

Artist’s rendition of the Stiles, an upcoming office development in Circuit Makati.A subsidiary of Ayala Land, Alveo has launched its fifth office condominium, set to rise in 21-hectare Circuit Makati. 

Harking back to the old racetrack in Sta. Ana, its historic locality, the project was billed as the Stiles Enterprise Plaza. A two-tower edifice, it is expected to raise P4.4 billion given its inventory of 283 units in its first tower, called West Tower. 

Alveo has put the units up for sale instead of leasing them, as per standard practice. 

"There is a very good market that prefers to buy than lease. It gives them a sense of prestige," said Jennylle S. Tupaz, vice president and project development group head of the property girm.

Pegged for turnover by the fourth quarter of 2019, the West Tower has 29 stories with units spanning 79 to 180 square meters. The going rate is at P147,000 per square meter.

"Location is a primary consideration for investors, and Circuit Makati is part of the most prestigious business addresses in the country. It lends a sense of distinction for creative professionals, entrepreneurial start-ups, SMEs and other organizations as it sets them apart from more established corporate institutions within the Makati CBD," said Tupaz.

"Being the first office development in Circuit Makati, The Stiles is truly a remarkable investment opportunity for foreign and local investors. Right within Makati’s newest lifestyle playground, it offers spatial freedom in a high-powered environment: a place that spurs entrepreneurs, creative professionals, small and medium-sized enterprises, IT companies and more to thrive and innovate in an ideal hub for energized organizations," stated Tupaz.

The Stiles will be equipped with the following facilities: a designer lobby; a business center with multipurpose conference rooms, board rooms, and lounges; 15 high-speed elevators for the high-zone; parking levels; backup power and a fiber-optic network; LED lighting in the common areas; 24/7 security with CCTV monitoring; and retail options on the ground and 10th floor for tenants and their office workers.


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