Thursday, April 23, 2015

Alveo's Park Triangle allotted P16-B

With residential, retail, business, and recreational components, Alveo Land's Park Triangle Residences is poised to become the newest mixed-use, masterplanned enclave within Bonifacio Global City, the "Home of Passionate Minds."

Park Triangle Residences will stand to be the second township developed by Alveo, following High Street South. According to the masterplan, Park Triangle Residences will consist of three office towers, one residential condominium, and one mall: a total of five towers in 2.3 hectares of prime real estate in one of the top business districts in Metro Manila.

Park Triangle Corporate Center and Park Triangle Corporate Plaza, spanning 120,000 square meters in total, make up the office component. The three towers are pegged for completion in 2019 or 2020. 

Meanwhile, condominium Park Traingle Residences, at 51,000 square meters, is scheduled for completion in 2021. Offering up to 616 units of studio, one-bedroom, two-bedroom, and three-bedroom residences from P6.5 million to P44 million each, the condominium has been allotted P4 billion for development. It is expected to generate P8 billion in revenue. 

Finally, the retail tower -- an Ayala Mall, with some 50,000 square meters to its name -- is scheduled to open in 2018.

An upscale development arm of Ayala Land Inc., Alveo has allotted P16 billion overall for developing Park Triangle Residences in the next six years, said Anton Sanchez, division manager for project development. It is one among the 10 developments -- costing P35 to P40 billion overall -- that the company is planning to launch in 2015.

Park Triangle is located along 32nd Street corner 11th avenue in Bonifacio Global City, Taguig.


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