Alveo Land, the middle-income residential unit of Ayala Land Inc. is earmarking P2.1 billion for the construction of the third phase of its Two Serendra development in Bonifacio Global City.

In an interview with reporters, Alveo president Dante Abando said The Meranti will offer 715 studio as well as one to three bedroom units at P110,000 per square meter. Total sales is expected to reach over P4 billion.

ALI senior vice president for corporate sales and marketing Rex Mendoza said sales has already reached P750 million for priority selling alone, accounting for 90 units, and is expected to breach P1 billion once the project is formally launched next week.

The Meranti — the newest tower to rise within Phase 3 of Two Serendra — perfectly complements the tenets of one of the most innovative and pioneering developments under Alveo Land’s portfolio.

“After six years of selling since its launch in 2004, Two Serendra consistently remains to be the leading development in Bonifacio Global City within our market segment,” said Abando.

Spurred by local demand, Abando said Two Serendra has in fact appreciated by 39 percent in property values and has achieved total gross sales of P14 billion since its launch.

“The market’s overwhelming response to Two Serendra underscores the market’s need to consider the diverse and dynamic lifestyles they lead and to find a home that complements it,” he said.

The 45-storey project is Two Serendra’s newest high-rise development in the thriving retail, business and lifestyle epicenter.

“The launch of The Meranti at Two Serendra will allow residents to build strong community connections and to nourish their passions collectively. True to the spirit of BGC as the home of passionate minds, The Meranti will cater to urban achievers who desire to share their success with those who matter most in their life,” Abando said.

Featuring highly thematic and upscale aesthetics, residents will have a venue where family and friends can converge to pursue their interests together.

Amenities will cater to each resident’s diverse passions, goals and ideals, underscoring the introduction of The Living Museum — which will provide residents venues to celebrate occasions they can share with others.

The Meranti will also be in close proximity to modern conveniences provided by BGC. To be integrated with the Shops at Serendra and Bonifacio High Street, residents will have more options to pursue their diverse lifestyles while being close to places of work, educational and other institutions.