Alphaland finds niche in high-end market
06/15/2011 | By: Albert Castro, Malaya
Ongpin-led Alphaland Corp. is getting heavy on projects catering to the high-end market.
While construction is underway for its three-tower Makati Place along Ayala avenue, the company is already preparing initial works for the development of other projects, particularly tourism-related projects that will add new destinations to the country’s spots, said its chairman former finance minister Robert V. Ongpin.
In total, the company is gearing for a number of projects estimated to cost at least P21 billion in the next few years.
Alphaland is eyeing to spend P3 billion to P4 billion for the year.
“We aim to focus on high-end and top-of-the-line projects,” Ongpin said.
Currently, the company is realizing sales from its first project, Alphaland Southgate, an office- commercial space development at the corner of EDSA and Chino Roces avenue. extension.
Mario A. Oreta, Alphaland president, said about 90 percent of the office space have been leased out while 84 percent of the commercial are taken.
Alphaland is a joint-venture between London-based Birtish fund Ashmore Group and Ongpin’s RVO Capital Ventures Group, which in 2009 acquired the shares of listed Macondray Plastics, Inc. and became listed with the Exchange.
Alphaland expects to receive a big contribution from club shares this year as the company starts selling shares for the club house of Alphaland Makati Tower.
The P6-billion three-tower Makati Place will be a residential development cum shopping center.
Its club house will have amenities that will rival thise of existing clubs in Manila, according to Ongpin.
The project has been registered with the US Green Building Council’s Leadership in Energy and Environmental Design (LEED), for a “gold” certification.
The company is currently working on the first two towers.
The 6-storey podium which will house the club house of the project named “City Club,” seen to be completed by 2012.
Alphaland has started to selling clubshares for Makati Place in January.
Also in Makati, the company is working to build busy with P2.2 billion Alphaland Makati Tower, an office-space development which will have a large template of 1,500-1,600 square meters space. The 34-storey tower will have a gross floor area of 48,000 sq m with the ground and second floor offered as prime commercial space.
Makati Tower is also pre-registered with LEED for gold standard.
The company’s high-ticket projects meanwhile comprise two tourism-related projects which will rise in Aklan and Quezon province.
Alphaland is planning to develop the 424-hectare Balesin Island off Quezon Province, facing the Pacific Ocean, into an enclave that it will call Baselin Island Club.
Ongpin said the plan is to develop it into six themed-villages for visitors looking for a getaway from the city.
Visitors will be ferried through a company-serviced flight coming from Manila.
Ongpin said a 1.5-kilometer airfield is being constructed in the island for the transport service, which can accommodate regional aircraft as well as private jets.
Shares for Balesin will be sold later in the year, according to Oreta. Alphaland likewise has a joint-venture project with Aklan-based Akean Resort Corp. to develop the latter’s 500-hectare estate Nabas, Aklan, directly adjacent to Boracay and San Miguel Corp.’s Caticlan airport, dubbed as Boracay Gateway Country Club.
Boracay Getaway Country Club will be a fully-integrated leisure township, a master-planned eco-resort community, offering sports, recreation, residential, and retail/residential areas, the company said.
“The experience will be akin to a large New England country estate, with grandvillas surrounded by luxuriant natural expanses, low density development, and superb privacy. The vacation estate will be marketed to high net-worth individuals, especially those passionate about the sport of polo, as the club will feature an all-weather polo field that can be used year-round,” Alphaland said.
Construction in Boracay Getaway started late last year. Alphaland is spending an estimated P10 billion to jumpstart the development of the property.
Alphaland meanwhile is also eyeing to develop its 32-hectare property in the former reclamation area in Pasay, near the Mall of Asia complex, into a mixed-used development to be called Alphaland Bay City.
Bay City is designed to be largely “car-free,” with individuals required to leave their car at one of the central locations an dwalk or take a shuttle to traverse the place.
“Buildings will be interconnected by walkways, affording protection from the weather. A broad, crescent-shaped central park will cut through the entire city, providing not only greenery, shade and pleasant public space, but also a corridor for wind to circulate,” Alphaland said.
Alphaland’s Bay City will also carry a “Marina Club” where yachting enthusiast can indulge in their interest.
Alphaland said Bay City will have a yacht basin which can accommodate about 200 yachts of all sizes, where people can dock their boats.
“The club will provide a team of qualified professionals who can maintain members’ yachts to their standards, crew the boats for trips, and regularly check on the boats when they are on standby. If members have their own crew, the club can provide clean, comfortable quarters and facilities,” Alphaland said.
The Marina Club will also be available to non-boat owners. Club members are issued points in a year which they can use to charter boats in the club fleet.
Alphaland has yet to put an estimate for the development of the property.