By Rizal Raoul Reyes
AYALA Avenue, the country’s Wall Street, remains the country’s power address of many business organizations whether local or foreign. As part of its thrust to bring dynamism, vibrancy and innovation to the premier business center, property titan Ayala Land Inc. (ALI), through subsidiary Alveo Land, has recently launched the Alveo Financial Tower.
Located at 6794 Ayala Avenue, the new 49-story skyscraper will offer premium-grade workspaces to the top business organizations in the country that aim to boost their image and éclat.
“Alveo Financial Tower will be a major component of City Gate. This corporate creative district is at the new rejuvenated northern gateway of Ayala Avenue, tailor-fit for contemporary and cosmopolitan work-life culture,” said Jennylle Tupaz, head of Project Development Group for Alveo Land.
“City Gate includes 81,000 square meters dedicated to leasable office spaces and 14,000 sq m for premium retail options. It will feature lush and prominent civic spaces designed for convergence, a rarity within the modern concrete jungle of Makati City. Vibrant residential developments will also rise along the district with Alveo Land’s own Kroma Tower and The Lerato. A 312-suite Seda-brand Ayala hotel is also included in the scheme, as well as interactive elevated walkways that interconnect the district and stretches all the way to Ayala Center,” Tupaz added.
After acquiring the former Jaka Tower site, Alveo left no stone unturned and commissioned internationally acclaimed and Seattle-based structural consultant Magnusson Klemencic Associates (MKA) and prominent local engineering firm Sy^2 + Associates to perform conduct structural integrity tests on the existing structure.
Sy^2 and MKA conducted independent studies to assess the structure of the building that was constructed in 1996 and scheduled for completion in 1999. After conducting a three-month rigid screening process, the two firms reported the building owned by the family of Sen. Juan Ponce Enrile had sturdy structures and fit for use.
By getting the green light from Sy^2 and MKA, Tupaz reported Alveo embarked on a groundbreaking vision of sustainability utilizing innovations and practices to create an elegant contemporary skyscraper, which will serve as a design catalyst for the modernization and regeneration of Ayala Avenue.
“We are excited to contribute to and drive sustainability in architecture in the Philippines, and hopefully pave the way for other developers to follow a similar path of innovation and architectural reuse,” Tupaz said.
Winning features
TUPAZ said Alveo is confident Ayala Avenue’s new power address will be a big hit in the corporate world. It has a total size of 2,400 sq m, featuring 48 floors plus a utility roof deck totaling 63,739 sq m of gross floor area. There are 363 office units for sale and the tower’s turnover is slated for 2020.
“Ayala Avenue is the most coveted corporate address and the primary engine of Philippines’s unrivaled business capital and home to top local and foreign corporations. With Alveo Financial Tower strategically located in this thriving business locale, it offers ultimate accessibility and networking opportunities along with a prestigious signature address for future locators,” Tupaz noted.
Tupaz said the Alveo Financial Tower will contain exemplary features such as the spacious four-volume signature lobby with a considerable ceiling height at 12.7 meters. Moreover, she noted the full fifth floor will be a huge business center with dedicated conference rooms and modular large-format meeting facilities. To allow business leaders to unwind and relax, Alveo will put up an executive dining lounge on the 17th floor—complete with an outdoor deck for more cozy-client meetings.
In tune with the times, Tupaz stressed the Alveo Financial Tower will be developed into an intelligent and high-technology structure equipped with the latest technologies such as the Radio Frequency Identification. Furthermore, she said the building will have a higher parking ratio to ensure ample space for both tenants and guests, among other office-grade considerations.
Alveo will also implement sustainable architecture to the new edifice similar to the renowned Nielson Tower, which has since transformed from an iconic airport terminal in the 1940s to the Blackbird, a lavish new restaurant serving fine dining and gastronomical fare.
To complement sustainable architecture, Tupaz said the Alveo Financial Tower will be aiming for the leadership in energy and environmental design certification to ensure all amenities will be sustainable and energy efficient.
Furthermore, Tupaz said the structure will have a pollution-control management system to businesses and organizations can operate at peak performance.
A golden opportunity for investment
BEING the sole new consolidated office for sale option on Ayala Avenue, Tupaz said Alveo Financial Tower offers good investment returns expected to be as high as 6 percent (based on current lease rates in the Makati Central Business District). “With its much-coveted location on Ayala Avenue, Alveo Financial Tower becomes a rare investment opportunity for businesses wanting to be part of the most prestigious corporate address in the country,” Tupaz said.
She reported the recent priority selling event of the Alveo Financial Tower held on September 27 was a behemothic success generating over P5.8 billion in total sales. A typical office space was sold at an average of P240, 000 per sq m, or P27.8 million for an average unit size of 116 sq m during the one-day exclusive event.
Serving as the culmination of Ayala Land’s new P20-billion corporate creative node, the Alveo Financial Tower provides a harmonious connection to businesses and enterprises to a complete and lively mixed-use district that includes diverse retail establishments, premium hotel accommodations, upscale condominium residences and integrated green open spaces.