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Why investors are flocking to Park Terraces

Project head gives the reasons
By Carlo P. Mallo |

The Ayala Center in the heart of the country’s central business district is undergoing some major renovations. First up on the list is the much awaited Park Terraces, a three tower, low density condominium project.

"The rising demand for living spaces at the heart of Ayala Center, the country\\\'s most desired address, paved the way for Ayala Land Premier to introduce Park Terraces in 2010. This year, the rise of its third and final tower marks not only the real estate market\\\'s last chance to be a part of the unique residential ideal it offers, but also the continuation of Ayala Land\\\'s biggest investment into the redevelopment of Ayala Center," Ayala Land Premier Project Head for Park Terraces Leya Moya said.
 
Due to its close proximity to business, retail, and dining destinations, Ayala Center has become one of the most coveted residential addresses in the entire country.
 
"The overwhelming response of the market was demonstrated when we broke ground for Park Terraces\\\' first tower in January 2010. Its success was soon followed by the launch of its second tower, the point tower in October, which also exhibited an impressive sales uptake within its first six months," shares Moya. "It only proves that there is a real demand for premium living spaces within the city\\\'s most desirable address and the introduction of Park Terraces\\\' final tower is the market\\\'s last opportunity to experience its promise of residential living."
 
Flanked by a wide array of business, retail and recreational establishments, Park Terraces is anchored on the concept of providing the limitless lifestyle afforded by its location. Right outside its landscaped doorstep stands the country\\\'s leading retail destinations, the most diverse selection of dining and leisure options as well as cultural institutions.
 
When the project was first unveiled to the public, the first tower was sold out in a span of two days, generating P4.3 billion. Due to the strong demand, the second tower was launched several months ahead of schedule. However, this did not satiate the demand of the buyers.

The third and last tower of Park Terraces was recently launched, two years ahead of schedule. “The buyers are mostly local investors who would buy five to six units,” says Moya.

But why are investors buying units at Park Terraces like there is no tomorrow?

Entrepreneur.com.ph gives you the reasons why real estate investors are heavily investing at Park Terraces:

1.    Location

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Aside from Park Terraces, there is only one other residential development within the Ayala Center, the Greenbelt Residences. The location of the development is prime and select.

2.    Developer

In real estate, Ayala Land Premier is like Midas, anything they touch turns into real estate gold. And their track record, previous and current development projects, are living proof.

3.    Cost-efficient

With the country’s major companies and even the stock market within the same center, living in Ayala Center gives you the option to not use your car – either for work or when you go out with your family for dinner. The sidewalks of the central business district are also undergoing some renovations to make it more pedestrian-friendly.

4.    Sustainable

While living in condominiums may seem far from being environmentally friendly, it actually is. In a condominium set up, there is less land utilized as development is vertical. Also, the project will be using motion-sensor lights to save on energy in common areas.

 

Moreover, people living in condominiums built on prime locations tend to walk more and use cars less thus reducing their carbon footprint.

5.    Views

Commanding views of the tree-lined San Lorenzo Village, the Manila Bay, the Makati skyline, and even of the Bonifacio Global City, makes a unit at Park Terraces worth every penny.
 
For inquiries on Park Terraces, you can call (02)848-5000, send an email to ask@ayalalandpremier.com or visit www.ayalalandpremier.com.


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