Ayala unveils ‘biggest investment’ in one area

Katherine Visconti
The Ayala group and its partners are pouring P30 billion over 4 years into the development of One Bonifacio High Street in Taguig

SUPER BLOCK. The site may be relatively bare now but Ayala Land CEO Antonino T. Aquino says, "We called it the super block. It really connotes that this is going to be the center piece of High Street." Photo by Katherine Visconti.

MANILA, Philippines – The Ayala group and its partners are pouring P30 billion over 4 years into the development of a prime real estate block in Bonifacio Global City in Taguig.

At a press launch on Thursday, June 28, Ayala Land CEO Antonino T. Aquino referred to this block as “the biggest investment in one single area.”  

Situated between 3rd Avenue and 30th Street is One Bonifacio High Street, a name apt to show its “importance” as “the principal address” in Bonifacio Global, explained Aquino.

ONE BONIFACIO HIGH STREET. The new mixed use block will be bound by 28th Street, 3rd and 5th Avenues.

Aquino said half of the costs would be taken on by the Shangri-La Group, which will erect a 5 star hotel. “This is going to be the best Shangri-La put up in this country,” he added.

He said the remaining P15 billion of the investment will be shared by Ayala Land (via unit Ayala Land Premier), Campos-Ayala venture Evergreen Holdings, and Fort Bonifacio Development.

Of this amount, the following real estate projects will be built;

  • P2 billion to P3 billion for a retail component featuring 63 stores
 
PREMIUM RETAIL. A 4-level premium lifestyle hug will feature premium stores, luxury stopes, refined leisure activities, and fine dining options. Photo courtesy of Ayala Land.
  • P9.9 billion for The Suites, a premier residential project

 

GRAND SUITE IN 3 BEDROOM APT. Ayala Land says residences in The Suites will be characterized by larger-than-usual unit areas and soaring ceilings. Living spaces range from 136 square-meters to 430 square-meters. Photo courtesy of Ayala Land.

 
NEW HOME. The new corporate headquarters of the Philippine Stock Exchange will be on the eastern side of the 'super block,' the high-end Shangri-La hotel on the northern side, and a mall and a residential building on the southern side. Photo courtesy of Ayala Land.

Below is the location of the future PSE tower within the premier block: 

 



‘The Suites

The market has been receptive for the high-end real estate products. Buyers for the suites is “a very discerning affluent” one, said Aquino.

After priority selling for the 298-unit residential suites started on June 24, 99% were reserved within 96 hours, leaving only 3 units of 298 left as of June 28.

SKY VILLAS. The 63-storey single tower will feature limited edition sky villas. Photo courtesy of Ayala Land.

He said Fort Bonifacio is the neighborhood to be in and that One Bonifacio High Street will “cut at the heart of the district.”

“The defining element that we will always set in any Ayala Land Premier project is location,” said Aquino.

Beyond Wall Street

“If we consider Makati to be the Wall Street of the Philippines, Ayala Avenue is effectively [that] Wall Street. In Bonifacio, we did something better… the center is called Bonifacio High Street, the longest pedestrian mall in the country — one kilometer long,” said Aquino.

“This (One Bonifacio High Street) is where we are going to offer nothing but the best in terms of living in the suites, working, living… and a lot of entertainment and dining,” said Aquino. – Rappler.com