Avida to launch new P4.4-B office building

Following the success of its first venture into office spaces, Avida Land is launching its second office project, Capital House, which targets small- and medium-sized enterprises (SMEs).

Capital House is a 26-story, P4.4-billion boutique office building that’s set to rise in Bonifacio Global City’s (BGC) Active North district. Office units are for sale, with prices ranging from P9.9 million to P25.6 million.

The project will offer 222 units ranging from 62 square meters to 159 sqm, with special whole floor units at 1,400 sqm.

“BGC is the fastest-growing central business district in the country today. More companies are seeking it as their business address. Aside from its business-friendly environment, it is home to a number of lifestyle, health and entertainment hubs, and other institutions, which make it a desirable address for companies, employees and residents,” Avida Project and Strategic Management Group Head Pol Tanco said.

“But the offices available in this market mostly cater to business-process-outsourcing firms and multinationals. Most offices here typically offer units with modal of 250 sqm. Capital House offers the right fit for SMEs, professional firms and those looking to have satellite offices with a BGC address,” he added.

Capital House will be near activity centers, such as the Turf BGC all-weather football field, Flying Trapeze PH, Active Park, and the upcoming BGC Sports Complex and Kidzania. Avida Land’s five residential offerings and its first office project are also near this boutique office building.

Design firms, advertising agencies, holding companies, and front-end offices of manufacturing and trading offices have already reserved their office spaces.

Capital House, which will be formally launched on March 24 at the Holiday Inn hotel, is set to break ground next month. The project is expected to be completed in December 2017 and turned over in the second quarter of 2018.

For the first half of this year, Avida Land is set to launch 10 projects worth P20 billion across strategic locations in BGC; the cities of Makati, Muntinlupa and Quezon; Bulacan province, Tagaytay City, Cavite province; Iloilo City, Iloilo province; and Tuguegarao City, Cagayan province. The company, the mid-market brand of property powerhouse Ayala Land Inc., is launching seven residential condominiums, two land-and-house subdivisions, and one office condominium.

Avida Land is also marking its 25th year as a consistently top-ranked developer for the mid-market segment of the industry. Avida has built 60,000 homes within 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.

Avida earlier disclosed plans on the upcoming Avida Towers in Cloverleaf, Ayala Land’s township project in Balintawak, Quezon City. Avida’s 1.4-hectare condominium development will be adding 2,300 units, a residential offering that will complement the retail, business and lifestyle components of Cloverleaf.

“We see bigger prospects for Avida this year as we aim to launch more projects in various strategic locations nationwide,” Avida President Christopher Maglanoc said. “All of this is part of our commitment as we diversify and expand our product offerings to create better lifestyle opportunities for our target market.”