Avida Land Corp., the mid-range brand of property giant Ayala Land, Inc., is aiming for a repeat of its highly successful Mandaluyong project by building a second multi-tower residence in the city.
Following the P5.3 billion Avida Towers Centera, the company has invested P7.4 billion for Avida Towers Verge, a three-tower condominium development located along Reliance Street corner Mayflower Street, Mandaluyong.
The neighboring structures attest to a growing market for residences closer to work locations. Centera, standing on EDSA corner Reliance Street, has nearly sold out all 2,526 residential units.
The condominium is completing turnover of residences, while the 32 retail units on the first and second levels are now over 70% leased and operating. At the close of its fourth tower, residential units were priced at P139,000 per sqm., marking almost 40% value appreciation since launch.
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