Alveo eyes P45 B from new projects

MANILA, Philippines - Alveo Land Inc., which caters to the upper middle market, is eyeing P45 billion in sales from 16 new projects.

“We want to be able to hit P40 billion in terms of launches and in terms of gross take up we want to be able to cross the P40 billion so hopefully we will be able to hit P45 billion,” Alveo Land president Jennylle Tupaz said in a briefing yesterday.

The projects comprise 5,000 residential and office units, she said.

Of the 5,000 units, about 11 percent will comprise office buildings  while the balance will be residential projects.

“We are expanding our footprint across the nation as we venture into new territories, and launch more compelling formats capitalizing on the synergies within the Ayala group,” Tupaz said.

Alveo has acquired eight new properties in Laguna, Alabang, Cagayan de Oro and Makati last year.

The company also plans to expand its presence in Alabang, Cavite, Bulacan and Cagayan De Oro this year.

To date, Alveo has 84 developments in 12 key locations across the country.

“The company’s track record proves how its pioneering developments contribute to the growth of the cities where they are located. With its thrust to create meaningful living and working experiences, Alveo develops masterplanned communities that speak to the needs of its residents, while carrying the legacy of Ayala Land,” Tupaz said.

Last year, Alveo launched P22 billion worth of projects with current sales take up of P38 billion. These came from nine projects last year including residential lots, condominiums, and office spaces across Makati, BGC, Pampanga, Laguna, Taguig, Cavite and Davao.

Alveo attributed the company’s positive performance to the country’s robust economic growth and strong investor confidence.

Now on its 15th year of operations, Alveo has led the residential business of ALI in terms of sales take-up over the past four years.

Tupaz attributed Alveo’s success to building integrated living and working environments for a discerning market. These quality products consist of well- designed condo units, residential lots, and office units in prime locations.

From 2002 to 2016, Alveo launched 84 projects  with total sales  value of P206 billion, Tupaz said.