Artist’s Perspective of Circuit Makati
On top of a continuously strong Business Process Outsourcing (BPO) industry, growth in manufacturing, exports, and tourism have been driving the Philippine business scene. Moody’s has cited the Philippines as a top performer and one of the world’s fastest growing economies in 2014. With investor confidence at a high and the central bank working to keep key interest rates low, both public and private investments are driving the economy forward. Real estate values are also relatively lower in the Philippines compared to neighboring countries, thus yielding better return on investments and fueling a huge influx of investors.
As the business economy improves, further propelled by higher consumer spending and the influx of foreign investments boosted by a triple upgrade in credit rating, the speed, range and growth of economic activities have significantly increased. The Philippines remains the preferred destination for the estimated $18-billion BPO industry, currently the major driver of demand for office space, but various other local or regional enterprises have also been expanding.
Riding this swell of economic optimism, acclaimed developer Ayala Land continues to redefine the real estate industry in the country, with a solid track record for building and maintaining thoughtfully-planned, sustainable, and self-contained large-scale communities and districts. Having already established its leadership in the residential market, Ayala Land is now tapping the innovative ideas of its upmarket brand Alveo Land to blaze a trail in the even more dynamic office sector. The rising demand and continuing dearth of deliberate office-for-sale products in the Philippines, presented an opportunity for Alveo Land to address a need.
Artist’s Perspective of The Stiles Enterprise Plaza
“Alveo Land saw the high potential of developing and selling office condominium spaces,” says Robert S. Lao, president of Alveo Land. “Everyone else was mostly leasing office spaces out to the market. As innovators, we filled in that gap and it changed the game for the industry.” While office space leasing contributed P3.5 billion (or US$80 million) to Ayala Land’s 2013 revenues, the take-up value for Alveo office projects was P7.2 billion in the same year.
Anchored on Ayala Land’s expertise in building communities and inspired by its commitment to innovation, Alveo Land ventured into the planning and development of its own large-scale, mixed-use districts. Alveo caters to the market of investors and business owners in the country’s key central business districts where economic activity is on the rise. They first tested the market in Bonifacio Global City (BGC) with High Street South Corporate Plaza, proving the high demand and potential in the development of innovative office products. Beyond BGC, Alveo also has developments rising in Cebu, and soon in Makati City―the country’s unrivaled financial district, cornering the market on “headquarters-type” office products to address the unique needs of expanding small and medium enterprises, as well as, foreign businesses.
Integration Safeguards Investments
Alveo prides itself on offering workspaces with experienced and reliable facilities management teams, and a dynamic environment that promotes efficiency and productivity and enhances employee satisfaction. Locating these offices in integrated, mixed-use economic centers provides leading local and multinational companies with world-class facilities in strategic and accessible locations.
Since Alveo Land’s products are all located within Ayala Land’s mixed-use masterplanned estates, this allows them to guarantee the overall quality of the experience for their customers. “Our developments have more value given that we control how the development grows, the maintenance and upkeep of the estate and how all our projects are seamlessly integrated into the bigger concept because we are strategically connected to the main district,” explains Lao. “The potential in value appreciation is higher because we ensure that the investment is protected, being located within a well-planned and controlled environment.”
Artist’s Perspective of The Stiles Enterprise Plaza Corner Unit
Fresh Energy For A Future City
Alveo Land plays a central role in one of Ayala Land’s most exciting flagship projects, the redevelopment of the old Sta. Ana Racetrack into Circuit Makati. This cutting-edge lifestyle and entertainment district is envisioned to serve as a catalyst for next wave urban renewal in the Philippines’ leading business and lifestyle capital of Makati City. Representing P20B of Ayala Land’s ambitious P60B investment in the city’s redevelopment, Circuit Makati is set to be the future premier location for celebrating cultural and civic gatherings, world-class entertainment and events, and stylish retail experiences. It will bring together Ayala Land’s various product lines for commercial spaces, leasable offices, leisure accommodations, with its upscale residential addresses and saleable office products spearheaded by Alveo Land. All of this will be integrated within a 21-hectare property that will soon be characterized by a truly large-scale, mixed-use community that will allow live-work-play in equal measures and that will be uniquely highlighted by Ayala Land’s high standards for quality and excellent customer service.
The Globe Circuit Event Grounds, a 2,000-square-meter canopied outdoor venue for large-scale social events, festivals, and international-scale concerts currently serves as the anchor destination. Soon, the Circuit Mall, a regional-scale Ayala Mall will provide unparalleled shopping, cinema, and dining options for denizens of the district. Right on top of this new lifestyle center will rise the Circuit Performing Arts Theater, a world-class 1,500-seater indoor events hall that will soon be home to various prestigious shows, acts, and productions. Nearby, the Black Box, a compact 300-seater versatile space will deliver a flexible atmosphere for a variety of corporate and independent creative functions. Capitalizing on the district’s one-of-a-kind riverside location, Circuit Lane will be a spectacular new interactive retail riverwalk that will run through the vibrant center of Circuit Makati. Just above this eclectic retail row, the district’s landmark residential development, Solstice–also by Alveo Land–will provide multi-faceted fun living for future residents of Circuit Makati.
Artist’s Perspective of The Stiles Enterprise Plaza Landscaped Deck
As Ayala Land’s standard-bearer for innovation, Alveo plans to capitalize on its market leadership by continuing expanding its presence in Circuit Makati with more groundbreaking living solutions, a more diverse portfolio of real estate products, as well as exploring exciting new product concepts in the upcoming months. Coming from the successful Philippine and Southeast Asian launches of the Solstice residential towers in 2013, Alveo’s soon-to-be-launched office development will serve as a prominent gateway to Circuit Makati, conveniently and strategically located next to the lifestyle and commercial hubs of the district. Dubbed The Stiles Enterprise Plaza, it will be the first Grade-A office condominium in Circuit Makati, masterplanned to offer inspired units for purchase. When completed, this new office address particularly aims to attract investors and small to medium enterprises who are looking for highly energized workspaces. The modern, progressive environments it will offer are designed to be less structured and constricting, thus encouraging the creativity and innovative thinking of business ventures and organizations on the rise.
“Circuit Makati is special in the sense that it provides the last opportunity to expand and further enhance the country’s already well-established and thriving premier business district that is Makati,” states Lao. However, building on the legacy of their past successes, and the inspiration provided by the unique setting and strategy, Alveo’s latest projects are poised to raise the bar even higher.