Ayala firm sees P2.4-B sales from lot units in Laguna proj

MANILA, Philippines - Alveo Land Inc., the middle-income residential property unit of Ayala Land Inc., said it expects to generate P2.4 billion from the sale of lots at its newly-launched project within the the group’s 1,860-hectare mixed-use eco city Nuvali in Laguna.

In a briefing, Antonio Sanchez III, division manager of project development for Alveo, said the new project, Mirala, has already sold P2 billion worth of units or 270 out of a total 360 lots in just a few weeks since its launch in September.

Occupying 29.5 hectares of land, Mirala offers a selection of larger and more premium lot cuts compared to the rest of Alveo’s southside portfolio with an average size of 431 square meters from the previous average of 250 sqm.

The lots are selling at an average P16,000 per sqm.

Given brisk sales, Alveo said it expects to sell 95 percent of the lots by the end of the year.

Mirala, which features a pervasive park environment that provides more space for families to grow, also imparts the lowest density of any Alveo southside development at only 12 units per hectare.

The company’s southside communities account for P4.8 billion or about 30 percent of the total volume of Alveo’s overall 2012 sales.

“With the quick take-up, sellout and net sales performance of Alveo’s southside, coupled with the reported 66 percent market share we now hold in the South Luzon market, these signature communities have further strengthened the company’s already formidable prominence in the Philippine real estate industry, while at the same time constantly presenting new and unique lifestyle innovations that continue to stay relevant to the needs of today’s upwardly mobile urban achievers,” Sanchez said.

Property research firm Colliers International Philippines recently reported that Alveo’s portfolio of southside developments accounted for a significant majority of property take-ups in southern Luzon this year, further cementing Alveo’s status as the consistent market segment leader in the region.

Alveo has consistently held this position in the past few years, thanks to its innovative portfolio of southern communities.

Among its signature horizontal communities in south Luzon – Verdana Homes Mamplasan, Treveia Nuvali, Venare Nuvali, and the recently launched Mirala Nuvali – captured a hefty 66 percent of the Laguna market.

Meanwhile, its first leisure development in Tagaytay City, Kasa Luntian, captured 21 percent of the city’s condominium market share in just less than a year from its December 2011 launch.