MANILA, Philippines - Ayala Land Premier, the upscale unit of property giant Ayala Land Inc., said its first venture into leisure estate development has generated strong market take-up since its launch.
In a briefing yesterday, Ayala Land Premier group head Jose Juan Jugo said the company has already sold 85 percent or about P9 billion worth of inventory in its top-end leisure development Anvaya Cove in Morong, Bataan.
He said sales have stemmed from investments in neighborhood lots, townhouses, and low-rise condominium units.
“This is a testament to the need for secondary homes and a testament to how good the market is for a very good leisure product,” Jugo said.
Anvaya Cove is 470-hectare property launched by the Ayala Group in 2005.
The development is both a seaside resort and a mountain retreat which offers a variety of living space options from low-rise condominiums and maisonettes, priced from P6 million to P25 million, with lot sizes ranging from 400 square meters to 1,500 square meters.
Ayala Land Premier said 58 homes have already been built and an additional 17 are expected to be completed by 2015.
“Right now, we’re developing our 10th neighborhood. So we’re developing according to the masterplan. It’s hard when you develop a project this huge but based on how we envisioned it in 2005, it is proceeding as planned,” Jugo said.
“No residential leisure development in the Philippines has come close to Anvaya Cove. And we plan to raise this lead further by consistently improving on our product offerings, while maintaining a gold standard in our beach and golf club services as we gear up to launch more residential projects and amenities until full development completion in 15 to 20 years,” he added.