MANILA, Philippines — Alveo Land, the brand for upscale properties of real estate developer Ayala Land, is off to a good start this year with record high reservation sales in the first quarter.
Alveo reported P12.7 billion in gross take up during the three-month period, the highest first quarter performance ever posted by the company.
The amount was higher than the P8.9 billion recorded in the same period last year and surpassed the previous highest first quarter sales performance of the company amounting to P10.8 billion recorded in 2019.
“We are very pleased with the extremely strong first quarter sales performance affirming the confidence in the premium market. We are grateful to our clients for their trust in the Alveo brand as we aim to meet their needs in modern, urban and suburban living,” Alveo president Joseph Carmichael Jugo said.
Alveo attributed the growth to the successful back-to-back launches of Alveo horizontal developments South of Metro Manila –- Sereneo Nuvali and Caleia Vermosa.
Launched in March, the 41-hectare development Sereneo is Alveo’s sixth project in Ayala Land’s pioneering Nuvali eco-estate in Laguna.
Alveo said the development posted almost P1.5 billion in year-to-date reservation sales.
Caleia Vermosa, meanwhile, is Alveo’s second development in Vermosa.
Also launched in March, the 28-hectare development generated almost P2 billion in year-to-date reservation sales.
Alveo said its record-setting first quarter performance during the quarter was also driven by the strong take-up of the developer’s residential condominium developments in key cities.
It said projects like the Park East Place in BGC, The Lattice at Parklinks and Nuveo at Cerca delivered significant sales contributions.
Jugo said Alveo intends to sustain the momentum of this upswing in the upscale market with other strategic developments in and outside Metro Manila, especially those located in Ayala Land estates.
Among the areas identified for new project launches by the company this year are in Quezon City, Batangas and Cavite.
“We continue to see growth potential in prime locations specially within Ayala Land estates. Investors and end-users value and appreciate the unique benefits of investing and living in an Alveo property within these master planned estates,” Jugo said.