FOR the driven who want a good start in their business endeavors and are in search of a power address, Avida Land is offering the P4-billion, 26-story Capital House in Bonifacio Global City (BGC), which is specifically designed for professional firms, boutique agencies and entrepreneurs.
Jonathan Fabricante, Avida’s innovation and design group head, said the Ayala Land subsidiary is optimistic their latest project can attract small and medium enterprises (SMEs) and other impassioned business people.
“We see a good market for businesses seeking a sought-after address like BGC, as evidenced by the success of One Park Drive. Capital House positions movers into an area primed for success with world-class amenities,” Fabricante said.
The Capital House is a sequel to the successful One Park Drive office project, which is also in BGC. One Park Drive, at 20 stories high, is also geared for SMEs, and has been completely snapped up at a P2.5-billion value on its first year of selling alone.
Fabricante noted the development of One Park Drive and Capital House was envisioned to give SMEs the opportunity to have a sweet spot in one of the fastest-growing commercial business districts in the country. He added that a majority of the office spaces in BGC were tailor-fit to large-scale operations, such as business-process outsourcing (BPOs) and multinational conglomerates. Units are at least 100 square meters (sq m), while modal offices measure around 250 sq m.
Capital House has 222 units with sizes ranging from 62 to 159 sq m., with special whole-floor units at 1,400 sq m. The project sells from P9.9 million to P25.6 million.
Office units are appropriate for about six to 20 employees. This size has already attracted a number of law firms, architectural studios and creative agencies to locate at Capital House, which currently has about 12-percent takeup.
On the ground floor will be retail spaces for dining and shopping. The building will also feature an open deck, a roof deck and numerous parking slots. Owners will have 344 slots, while 110 slots will be reserved for visitors.
Fabricante said Capital House has been designed for greater flexibility and convenience of start-up and expanding businesses. Furthermore, multipurpose and conference rooms can be leased so owners can expand their office operations without adding to their investment.
Instead of a centralized air-conditioning system, Fabricante said Avida has given businesses individualized setups for office units to ensure greater economy and more savings for the tenants.
Avida is also offering unit owners leasing services to help them find tenants for their spaces.
“Right now, our buyers are a mix of investors and end-users. As the Philippines becomes a booming real-estate market, more and more investors are inclined to buy a mix of residential and office developments. We’ve also noted an increasing rise among foreign buyers for our offices,” said Herbert Herrero, Avida project development manager, Metro Manila and Luzon Area.
“Capital House complements the Avida portfolio. It enables the company to enhance the living experience of our developments. It provides us with the opportunity to offer our buyers and communities the complete live, work and play lifestyle,” Herrero added.
The property is in BGC’s “Active North” district, along 34th Street corner 9th Avenue, near such active lifestyle attractions as the Turf BGC all-weather football field and Flying Trapeze Philippines. Soon to rise in the area are the BGC Sports Complex and Kidzania, a family “edutainment” center.
Completion of the project will be in December 2017, while turnover will happen by the second quarter 2018.
Avida boasts of five residential condominiums near their BGC office projects, four of which are within walking distance of Capital House. This large footprint across the city embodies Avida’s live-work-play balance for developments. All the elements for this lifestyle are carried in its growing range of products.
Commemorating 25 years this year, Avida has consistently been top ranked among developers in the entry-level property segment.
To date, Avida has built 60,000 homes across 73 projects in 29 strategic locations nationwide, making it the Ayala Land subsidiary with the most number of projects and broadest geographic presence in the country. This includes South Park District, its first large-scale, master-planned mixed-use estate in Muntinlupa.