ALI's Alveo Land to raise P4.2 billion from Bonifacio sales

MANILA, Philippines - Alveo Land Corp., a wholly-owned unit of Ayala Land Inc. (ALI) that targets start-up families and young urban professionals, is hoping to raise P4.2 billion in sales from its newest high-rise development in the burgeoning Bonifacio Global City (BGC).

The project, dubbed The Seranti, is the third tower to rise in Two Serendra, a leading development in BGC. Estimated to cost P2.1 billion, the 45-storey Seranti will offer a total of 715 studio, one-bedroom, two-bedroom and three-bedroom units at P110,000 per square meter.

Unit sizes range from 39 square meters to 100 square meters.

In a press briefing yesterday, Alveo Land president Dante M. Abando said the project will be ready for turnover to unit owners beginning in the second quarter of 2015.

The company recently raised P700 million from Seranti’s priority selling of 90 bedroom units and expects to generate P1 billion more in sales once formally launched.

Abando pointed out that Two Serendra consistently remains a top draw in BGC with total gross sales reaching P14 billion since its launch, driven by strong buying demand. He said the property value of Two Serendra has already risen 39 percent.

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

Amenities of Two Serendra residents include a tropical garden, a lush landscaped garden ideal for holding parties and community festivities; an enterprise lounge that provides state-of-the-art business facilities, the living museum which includes a culinary studio; a discovery hall (that provides parents and their kids the perfect bonding setting; a fitness club and a stellar peak, a landscaped deck and function area.

Abando said the company has three or four more projects scheduled for launch this year which would include a residential subdivision. Alveo accounts for 16 percent of ALI’s total net income.

Aside from Two Serendra, Alveo’s other ongoing and completed projects include the Marquee Place (a residential development in the North); Ametta Place (which pioneered the boutique townhouse living concept in Pasig; Treveia in the Nuvali township located in Sta. Rosa and Calamba in Laguna; Celadon Manila (the company’s first integrated development in Manila); and The Columns on Ayala Avenue in Makati.