Ametta Place Pasig – Ayala Land bets boutique townhouses to attract ‘yuppies’ | Houses For Sale Philippines

Posted in News on October 9th, 2009 by admin | No comments

MANILA, Philippines – A unit of Ayala Land Inc. (ALI) launched a Pasig “boutique townhouse,” betting that demand will come from “young urban achievers” intending to raise their families in a private enclave near the city’s business districts.

Besides being close to the business districts of Ortigas Center, Bonifacio Global City and Makati, the project will also ensure residents’ privacy, allowing couples to raise a family, Alveo Land Corp. said.

The P1 billion townhouse community called Ametta Place will have an area of six hectares, Nerissa N. Josef, Alveo Land vice president for project development, said.

Four hectares of the project are already owned by Alveo and it has partnered with another company, Realty Development Corp., to increase the property’s size.

The community offers 280 units that will be delivered in 2012, the company said. Each unit – which may cost anywhere from P7 million to P9 million – covers two parking slots, the company added.

The boutique concept in real estate “represents a movement away from the monotony in residential offerings which has long been seen in Pasig,” Josef said.

Each unit will have three bedrooms each, with a land area ranging between 91 square meters and 117 square meters. These will feature “warm contemporary design and architecture”.

Ametta Place will also feature wi-fi connectivity, social, active and interactive zones that will allow close relationship among neighbors.

Meanwhile, property buyers have become more bullish during the recent months, ALI officials said.

“The market is back on all fronts,” ALI president Antonino Aquino. “Based on month-on-month [performance], we’re doing better this year than in 2008.”

For the first three months of the year, ALI”s earnings slipped 50 percent to P907 million on lower revenues.

Shares of ALI fell P0.40 to P8.10. – Cheryl M. Arcibal, GMANews.TV