Homes for the upwardly mobile

In response to the needs of the middle income segment, the Philippines' largest real estate company recently launched a new firm focused on providing homes to upwardly mobile professionals and young entrepreneurs.

Community Innovations, Inc. (CII), Ayala Land's new wholly-owned subsidiary, is a logical step to complete the residential offerings of Ayala Land, according to Angela dV. Lacson, president of CII.

She comments: "Starting with its dominant position in the high-end sector, ALI has also been able to build its presence in the mass-housing segment through Laguna Properties Holdings, Inc. (LPHI). And now, to focus on a defined mid-market segment we call the young urban achievers. Community Innovations, Inc. has been organized to make home ownershp a rewarding experience for them."

Lacson explains that Community Innovations has carefully studied the needs and aspirations of its target market composed of families of upcoming executives, professionals and entrepreneurs with total household earnings starting at P80,000 up to P170,000 a month. And it is determined to respond to their desired quality of life with innovative product lines which will include subdivisions with lots and house and lot packages, townhouse clusters and condominiums. Completed residential products will be priced ranging from P3 million to P6 million markedly lower than the price points of traditional ALI products.

To meet the needs of this segment with an estimated demand of 22,000 residential units in the next three years, Community Innovations, Inc. has drawn up plans for neighborhoods that will satisfy this market. Its primary consideration, says Lacson, is that location of projects should be within the great Metro Manila area so that commuting time to places of work, worship, shopping and education is maintained at a reasonable range.

Consequently, the location of the CII project will dictate the type of product it will offer. "In busy places like Makati, for instance, you would expect condominiums rather than house-and-lot units. House-and-lot packages would simply be beyond the reach of the target market in highly urbanized districts." In locations where land is not priced at such a premium, the company will offer townhouse clusters and residential subdivisions with lots and house and lot packages.

At the same time, CII will benefit from the vast experience of its parent company, Ayala Land, in drawing viable, sustainable communities. "Our communities will be differentiated from the rest by the kind of planning, community development and after-sales service we will put into in," says Lacson. These encompass the development and maintenance of complete amenities as well as ensuring reliable supply of utilities and diligent performance of property management functions that assure sustained property values.

CII's first project is Verdana Homes, a 25-hectare residential subdivision at the border of Las Piñas and Bacoor, Cavite. It is seven kilometers from the booming Ayala Alabang community.

Verdana, which will be launched this March, will feature lots from 200 sqm. to 398 sqm. with most of the lots in the 200 sqm. range. House-and-lot packages offer floor areas from 122 sqm. True to the California-inspired architecture, each house model has a balcony, porch and spacious garden areas. Lots will be offered starting at P1.5 million. House-and-lot models go from P3.7 to P6.6 million.