Park Terraces – Ayala Land Premiere

Park Terraces FAQs

Park Terraces FAQ

1. What are the views from the Units of Park Terraces’ First Tower?

Park Terraces offers an array of views. Select units at lower floors will have choice views of the parks and landscaped areas(Terraces Square and Palm Promanade*), the motor court and the garden and pool at the podium level.

*temporary name

2. What lifestyle can a future Park Terraces’ resident look forward to?

Being inside Ayala Center, Park Terraces offers a wide array of choices from the most luxurious to the most basic services, dining, shopping, fitness and entertainment experiences.

The country’s most prime hotels, such as Makati Shangri-la, Fairmont Hotel, Hotel Dusit Thani Manila, Intercontinental Hotel Manila, Rennaissance Makati Hotel, and Ascott Makati, adds to the choices available to residents.
Greenbelt provides a selection of exquisite dining places, state of the art cinemas, live theater performances, the Ayala Museum, global premium brands, and a showcase of Filipino artistry. The redevelopment of Ayala Center unveils a new Glorietta that will house an even wider array of retail choices, enhanced with landscaped promenades and gardens.

3. How can residents access Park Terraces’ parking?

Park Terraces residents may access the development via the following entry/exit points:

• Ramp system along Arnaiz Ave.
• Motorcourt
• Terraces Square interceptor ramp along West Drive
• Various entry/exit points to the Ayala Center Basement parking

The promenades and walkways in Ayala Center, connecting to the Makati Central Business District’s walkway system, also provide residents the choice of leisurely walking to their destinations.

4. What establishments and landmarks are near Park Terraces?

Within 1/2 kilometer
1. Asian Inslitute 01 Management
2. Assumption College
3. Landmark
4. Rustan’s Ayala Center
5. Rustan’s Express at Greenbelt
6. SM Makati
7. Sio. Nino de Paz Church located at Greenbelt Park
8. Philippine Stock Exchange
9. Ayala Triangle Gardens

Within 1 kilometer
1. Colegio de San Agustin
2. Nearest MRT Station

Within 3,5 kilometers
1. Makati Medical Center
2. St. Luke’s Medical Center in Bonifacio Global City
3. Manila Golf Club
4. Manila Polo Club
5. International School Manila
6. Manila Japanese School
7. British School Manila

ABOUT THE UNIT
1. For lower floor units, what measures will be undertaken to lessen any noise coming from the outside surroundings, especially those who have 24 hour operations (BPO’s and 24/7 cafes)

Included in the design of the building is the double glazing of the windows from 2nd to 15th level.

2. How will the traffic in the area of Park Terraces be affected once the towers are built?

Being part of Ayala Center, Park Terraces will also benefit from the progressive traffic planning and management systems to be implemented within Ayala Center

3. What appliances will be provided in Park Terraces units?

The residential units will include air conditioning units for all bedrooms*, living and dining areas, water heater for the kitchen and bathrooms ‘ and range hood and cook top (only) for the kitchens.
*except for maid’s room and bathroom

ABOUT FINANCES
1. How much is the rental potential of units in Park Terraces?

Current rental rates for premium condominiums within Makati ranges from P140,000 to P150,000 per month. Since rent is greatly influenced by several market factors, the developer cannot guarantee the growth rate.

2. Is the balcony area included in the list price of the unit?

Balconies at Part Terraces are defined in the Master Deed as Limited Unit Common Area. Thus, the area considered in the list price is the unit only.

3. Are parking spaces appurtenant? What are the guidelines/parameters of purchasing a parking slot? How many parking slots can a unit owner purchase? If a unit owner decides not to purchase a parking slot, what are his other options in terms of parking?

The parking slots are not appurtenant to the unit. The buyer has the option to choose and purchase parking slots among those available for sale. Only unit owners can purchase parking slots, and identified parking slots for sale will be made available on a first-come, first-served basis.

Based on the unit purchased, a unit owner can purchase a maximum number of parking slots

Studio = 1 slot
1 br = 1 slot
2 br = 2 slots
3 br = 2 slots
Penthouse = 3 slots

4. What will be the structure of the Condominium Corporation of Park Terraces?

All towers of Park Terraces will form part of one Condominium Corporation, with two (2) districts. Tower 1 and Tower 2 will form District 1 and Tower 3 will form District 2. Each district will have a Residential and a Commercial Zone.

5. How much are the association dues?

The association dues will be computed at the time of the establishment of the Condominium Corporation, based on the formula indicated in the Master Deed. Current average monthly association dues of similar type-condominium developments range from Php 93/sqm to Php 115/sqm. Payment of association dues will commence upon turnover of the unit to the buyer.

6. Will the area of the balcony be included in the association dues?

The balcony being a Limited Unit Common Area will incur expenses such as Real Property Tax and insurance. The master deed requires the unit owner to pay for the share in the expenses of all limited Unit Common Areas. The share will depend on the size of the balcony and/or Limited Unit Common Area of the unit relative to the total Limited Unit Common Areas in the tower.

7. Will the dues for the amenities at the towers be shared among all the unit owners in Park Terraces?

At full development, Tower 1 and Tower 2 residential unit owners will share amenities, thus, they will also share in the maintenance and operating costs of these shared amenities. The motorcourt and easements at the ground floor and basements as well as the other common areas identified to be shared by the three (3) towers, will be shared by all three (3) towers. Common areas identified as those shared with the Commercial units will be shared by the residential towers and the commercial units.