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Old June 12th, 2017, 01:56 PM   #1
thomasian
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BGC | The Flats BGC at 5th Avenue [16F|res]

Could this be one of the two "Flats" mentioned here?

ALI FY-2016 Analyst Briefing Q&A Podcast ē Feb. 23, 2017

http://ir.ayalaland.com.ph/wp-conten...AR-2016-QA.mp3

@3:55

Q: "It looks like you're you plan to offer condo for lease. I have not heard of this before from Ayala Land. Could you give us some idea of [what] you're thinking?"

@4:06

A: "We're building... uh... dormitories here... uh... in Makati. There's one that will be under construction, then there's
two more... uh... in Bonifacio. This is basically just a response from the demand that we're seeing from
office workers... uh... to be able to get closer... uh... to work 'no. We're also building one at the Intercon site primarily
because we are not selling any of the flats (units). We wanted to optimize... uh... the GLA. We feel that the demand, given the
location, would be strong in that particular area.

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http://www.bciasiatop10awards.com/in...id=5&year=2017
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Old June 19th, 2017, 11:55 AM   #2
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Ayala-led FBDC building 1,500-bed BGC dorm


Quote:
BGC Master developer Fort Bonifacio Development Corp. is debuting into dormitory development to cater to the rising shelter need of business process outsourcing (BPO) and other office workers in this central business district.

The BGC dormitory project, called “The Flats BGC at 5th Avenue,” will offer over 1,500 beds. The dormitory building will rise at a prime location along 5th Avenue across St. Luke’s Medical Center, an area accessible to major thoroughfares EDSA, Kalayaan Avenue, C-5 Road, and 32nd Avenue.

FBDC broke ground for The Flats BGC in December last year after the project was awarded to infrastructure conglomerate Megawide. The dormitory is expected to start operating by 2019, FBDC announced on Monday.
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Old June 19th, 2017, 12:49 PM   #3
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Across St Lukes is S&R on 5th Ave so I guess this will be at the lot behind S&R on 34th St...right?
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Old June 19th, 2017, 01:02 PM   #4
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This is great because it would help lessen the traffic. With 1,500 beds, that's 1,500 less commuters that have to get in and out of the city.
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Old June 19th, 2017, 01:52 PM   #5
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http://business.inquirer.net/231650/...0-bed-bgc-dorm
Quote:
The new BGC dormitory tower will have 375 units in 16 storeys, offering a total of over 1,500 beds.

Each dorm unit is fully furnished with a bed and mattress, workstation, wardrobe cabinet, toilet and bath, and a mini kitchen.
I'm presuming each "unit" will be 36 sqm with 4 beds, 4 workstations, 4 wardrobe cabinets, 1 CR, and 1 mini kitchen.

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Originally Posted by pau_p1 View Post
Across St Lukes is S&R on 5th Ave so I guess this will be at the lot behind S&R on 34th St...right?
That seems to be the location:



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Old June 19th, 2017, 03:00 PM   #6
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Quote:
Originally Posted by scamingue View Post
Bigger rendering from that inquirer.net article.
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Old June 19th, 2017, 11:56 PM   #7
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hay nako ayala, look they even thought of directly competing with condo unit owners who rent out their properties. As we all know BPO employees are the number one tenants of the said rented properties. So if i'm a BPO person this will be a good place to live, unlike a condo unit i'm probably forced to sign up a year's contract with a friend or a relative, but with this dormitory if you're done with let's say a 6 month contract you can leave as you please
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Old June 20th, 2017, 01:37 AM   #8
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Magkano kaya magiging rent dito if ever?
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Old June 20th, 2017, 02:41 AM   #9
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^corporate account daw according to article. Companies will include this in their compensation/benefit package.
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Old June 20th, 2017, 02:48 AM   #10
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Quote:
Originally Posted by sampukid View Post
hay nako ayala, look they even thought of directly competing with condo unit owners who rent out their properties. As we all know BPO employees are the number one tenants of the said rented properties. So if i'm a BPO person this will be a good place to live, unlike a condo unit i'm probably forced to sign up a year's contract with a friend or a relative, but with this dormitory if you're done with let's say a 6 month contract you can leave as you please
Ito na yung nakikita ko magiging trend with condos. Design your unit in such a way that it can have 3-4 beds (e.g. 2 double decks or 2 beds with pull out) problem is kung papayag ang PMO na meron kang 4 tenants in your unit.

Kawawa ang condo sa ganitong set-up pero ito na yung nagagawa ng demand and competition sa mid tier condos.

This wont be an issue for high ends.
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Old June 20th, 2017, 03:11 AM   #11
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Quote:
Originally Posted by sampukid View Post
hay nako ayala, look they even thought of directly competing with condo unit owners who rent out their properties.
My initial thoughts as well. It's another jab to Avida buyers in the area, especially to CityFlex buyers because this is adjacent and will probably block CityFlex's west views. The construction of CityFlex and other Avida projects are super delayed, but considering that this project's completion time will directly affect Ayala's revenue, I won't be surprised if it is built on-time or even ahead of schedule.

This project is obvious proof that Ayala is shamelessly using the money from its customers to directly compete with them. Their strategy seems to be announcing condo residences with unrealistic turnover dates to generate quick sales, then purposely delaying said projects and using that money to build other projects such as this one.



Anyway, I wonder how much bed space in one of these dorm units will cost to rent monthly... because it's definitely going to influence the rental market. The power of Ayala.
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Old June 20th, 2017, 05:59 AM   #12
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Yeah this is an interesting development and I think one should second guess investing in an Ayala Project. If this strategy of Ayala works at BGC, then who knows if they do the same in QC, Nuvali and so on. Definitely a slap on the face for those buying condos for rental businesses. I dunno why such a developer be so sinister to those that gave them business...
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Old June 20th, 2017, 07:24 AM   #13
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Quote:
Originally Posted by azumiii View Post
^corporate account daw according to article. Companies will include this in their compensation/benefit package.
I don't think so. The article says...

Quote:
FBDC has opened the project to partnerships with corporate accounts through lease arrangements for their employees.
Read more: http://business.inquirer.net/231650/...#ixzz4kVsPUFp4

It didn't say it has "exclusively opened" it to corporate accounts.

I think whatever is left will be opened to whoever (individual) tenants are interested.

---

Quote:
Originally Posted by [email protected] View Post
Yeah this is an interesting development and I think one should second guess investing in an Ayala Project. If this strategy of Ayala works at BGC, then who knows if they do the same in QC, Nuvali and so on. Definitely a slap on the face for those buying condos for rental businesses. I dunno why such a developer be so sinister to those that gave them business...
Oh, and remember, this is just the first of two (2) initially planned for BGC...

Quote:
Originally Posted by thomasian View Post
Could this be one of the two "Flats" mentioned here?

ALI FY-2016 Analyst Briefing Q&A Podcast ē Feb. 23, 2017

http://ir.ayalaland.com.ph/wp-conten...AR-2016-QA.mp3

@3:55

Q: "It looks like you're you plan to offer condo for lease. I have not heard of this before from Ayala Land. Could you give us some idea of [what] you're thinking?"

@4:06

A: "We're building... uh... dormitories here... uh... in Makati. There's one that will be under construction, then there's
two more... uh... in Bonifacio. This is basically just a response from the demand that we're seeing from
office workers... uh... to be able to get closer... uh... to work 'no. We're also building one at the Intercon site primarily
because we are not selling any of the flats (units). We wanted to optimize... uh... the GLA. We feel that the demand, given the
location, would be strong in that particular area.

VISIONARCH - Visionary Architecture, Inc.

http://www.bciasiatop10awards.com/in...id=5&year=2017
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Old June 20th, 2017, 07:42 AM   #14
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It's a dorm right now but I won't be surprised if 10 years from now they convert it into a hotel or a service apartments.

They can afford to make it a dorm now because BGC isn't fully populated yet. Once all these projects are done, and the tenants have moved in, the demand for living space will go up.
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Old June 20th, 2017, 08:55 AM   #15
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Quote:
Originally Posted by [email protected] View Post
Yeah this is an interesting development and I think one should second guess investing in an Ayala Project. If this strategy of Ayala works at BGC, then who knows if they do the same in QC, Nuvali and so on. Definitely a slap on the face for those buying condos for rental businesses. I dunno why such a developer be so sinister to those that gave them business...

Tama. I'm afraid this will dilute the market for small renters in that area. I have the feeling they will also put one near Uptown. Greedy Ayala.
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Old June 20th, 2017, 12:18 PM   #16
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The article says

"FBDC has opened the project to partnerships with corporate accounts through lease arrangements for their employees. A handful of locators have already expressed inclination to include accommodations in The Flats BGC at 5th Avenue as part of their compensation package, the company said."

http://business.inquirer.net/231650/...#ixzz4kVsPUFp4

Will see about opening it to individual renters. There are reasons why some condos do not allow unit owners to use their condo for AirBnb or short term lease. I'm sure there are reasons as well why Ayala opened this up agad for partnership to corporate accounts instead of just relying on individual tenants.
Sakit sa ulo madami kausap. Avida cant even attend promptly to unit owners, how much more for when you make it x4 inquiries/customer service for each unit.
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Old June 20th, 2017, 12:29 PM   #17
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Quote:
Originally Posted by [email protected] View Post
Yeah this is an interesting development and I think one should second guess investing in an Ayala Project. If this strategy of Ayala works at BGC, then who knows if they do the same in QC, Nuvali and so on. Definitely a slap on the face for those buying condos for rental businesses. I dunno why such a developer be so sinister to those that gave them business...
How many years do you think Ayala has to wait before it can get its ROI thru this business model vs their regular condos for sale where they can sell out and get ROI for 5 yrs or less?

Ironically, I see this move of a major developer as a good sign for all investors buying condo for rental purposes.
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Old June 20th, 2017, 12:33 PM   #18
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Quote:
Originally Posted by azumiii View Post
Ironically, I see this move of a major developer as a good sign for all investors buying condo for rental purposes.
Why?
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Old June 20th, 2017, 12:40 PM   #19
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^ it's obvious to me, if the big guys are willing to play the game of the ordinary condo unit owner, this means something. The demand is strong. Also, this is a wake up call for all those who say that there is an over supply of condos and not feasible to buy one now. If there is an over supply and you probably wont lease out your unit as fast as you expect, why is this happening? Do they think Ayala or any other developer with a condotel project will move in this direction just to compete and piss off their condo buyers?
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Old June 20th, 2017, 12:54 PM   #20
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I'm not sure if anyone has brought up about this trend in BGC but I'm posting these Facebook pages anyway and I believe that these are the more direct competitors of The Flats.
This has been happening since 2014.







Dorms/bedspace pa more.
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http://primehomesph.blogspot.com/
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