MANILA, Philippines – Alveo Land, a wholly owned subsidiary and upper-middle income residential development arm of Ayala Land In. (ALI), expects sales revenues to double this year, as it launches 12 new vertical projects this year and as Alveo goes nationwide.
Alveo senior project development manager Anton Sanchez said in an interview that from P2.2 billion in sales this year, the company expects sales to double next year. Alveo accounts for about a third of ALI’s revenues which last year amounted to P6.3 billion from units sold.
Sanchez said Alveo’s Southside District (an internal unit referring to the area which is an hour or 30 kilometers from Manila to Southern Luzon) has shown remarkable sales performance that saw it dominating the South Luzon market with a 58.5-percent market share in 2010 as compared to the 41.5 percent showing of other developers in the area.
Alveo’s south side communities consist of three projects, namely the 40-hectare Verdana Homes in Mamplasan launched in 2004; the 60-hectare Treveia at Nuvali launched in 2007; and the 74-hectare Venare, also inside Nuvali.
Verdana posted an 84.2 percent sales take up in 2010 and a 40-percent increase in land appreciation value while Treveia achieved a 95.7-percent total sales take-up and a 29-percent rise in value. Venare, meanwhile, had a 64.4-percent take up as of last year and a land appreciation value of six percent.
Venare has sold out Phase 1 and has just launched Phase 2. Sanchez said they are in talks with ALI to expand Venare by another 60 hectares.
“So far, we have monitored a constant wave of positive response for our top three Southside developments. The figures simply indicate how valuable the brand of innovative south side living is for our buyers and residents, with each property having been uniquely developed to suit distinctly diverse modern lifestyles in the south,” Sanchez explained.
In 2010 alone, the three projects gained a total of P2.1 billion in collective revenue accounting for a 62 percent total market share in the area.
Total sales for the three to date have reached P7 billion, of which Treveia accounts for P2 billion, Verdana P3 billion, and Venare, P2 billion.
But aside from the south side communities, Sanchez said Alveo which has 16 ongoing projects 11 of which are in Metro Manila, will launch 12 new projects this year, seven of which will be in Metro Manila and five in other parts of the country.