Alabang West almost sold out, says GERI

MANILA, Philippines - Global Estate Resort Inc.’s 62-hectare masterplanned community Alabang West is about 80 percent sold, less than a year after its launch.

In a statement, GERI said more than two-thirds of the total 788 residential lots offered had been sold, due to the strong demand for the project.As a result, land prices in Alabang West rose 20 percent to P56,000 per square meter from P47,000 in October last year.

Rachelle Peñaflorida, vice president for sales and marketing at Megaworld Global-Estate Inc., said the fast take-up of village lots in the township could be attributed to the project’s strategic location and brighter prospects for fast value appreciation of the property.

“There has been a sharp rise in the demand for residential lots in Alabang West in the past six months. As far as location is concerned, Alabang is not just an option but top-of-the-mind to many property buyers especially those who are looking into the south,” Peñaflorida said.

Earlier this year, independent research firm Cuervo Far East said the Southern Manila West Growth Area, which includes Alabang, has been experiencing a remarkable average annual appreciation of property values by 10 to 15 percent until 2019 due to new developments by the biggest real estate developers in the country.

“We have even exceeded the average annual appreciation forecast, which is a good indication of the property market in Alabang, especially for Alabang West. The entry of our township into this booming side of  southern Metro Manila is a perfect timing,” Peñaflorida said.

Alabang West integrates a Beverly Hills-themed lifestyle into its commercial, retail and residential developments. Aside from a shopping strip inspired by the famous Rodeo Drive in Hollywood, Alabang West also offers an upscale residential community with lots ranging from 250 to 800 sqm.

It first-class amenities that include badminton and basketball courts, function halls, cabanas, game room, café and al fresco dining areas, a fitness center, pocket gardens, open parks and infinity pool, among others. 

“In the next five to ten years, we envision Alabang West to be the next big thing in southern Metro Manila,” Peñaflorida said.

Located beside Alabang’s high-end communities and golf course, the township is accessible through major access points in South Luzon Expressway, including Alabang Exit, Filinvest Exit, and the newly-opened Daang Hari Exit.