Thursday, July 24, 2008 [ philstar.com ]
Community Innovations, a unit of real estate developer Ayala Land Inc. (ALI), earned P15 billion in sales revenues over six years since its inception in 2002, about P4.8 billion or a third was earned last year, officials said yesterday.
Company president Dante Abando revealed yesterday that Community Innovations likewise registered a compounded annual growth rate of 36 percent over the same period, compared to a 17-percent CAGR for the entire Philippine real estate sector.
Community Innovations has been relaunched as Alveo Land. “In Latin, Alveo means ‘to be well.’ As a company, we don’t just find the means to provide you with the most innovative homes, we look for ways to give you the life you deserve,” Abando said.
From 2002, the company’s sales value soared by a whopping 360 percent while sales volume increased 250 percent, he emphasized.
Last year, Community Innovations posted its highest earnings in its six-year history at P4.8 billion, translating to a 53- percent growth from its 2006 earnings of P3.1 billion.
“We are very pleased that our business grew significantly. Our developments are always centered on people’s needs and the market responded well to our offerings,” Abando pointed out.
He attributed this growth to the substantial contribution of new projects such as The Aston, the family and kids-oriented high-rise section at Two Serendra in Bonifacio Global City; Marquee Place, the first ALI development in Northern Philippines that is integrated with an Ayala mall located in Angeles City; and Treveia found at Nuvali, ALI’s new metropolis in the Canlubang, Laguna area.
He emphasized that more recent projects are also boosting the company’s portfolio. Senta, Community Innovations’ recent condominium development in Legazpi Village, registered P1 billion in sales in the first five weeks of selling. Meanwhile, The Red Oak, the second high-rise section in the third phase of Two Serendra, drew in P455 million on the first day of selling.
From the start, company officials stressed that Community Innovations has made a gleaming track record when it comes to sales. Its maiden project, Verdana Homes in Bacoor, Cavite, sold out in seven months.
“Every time we conceptualize a new community, we think about what is lacking in our market’s lifestyle. From here, we roll up our sleeves and think of something new to offer them. This propensity to innovate has propelled the company to where it is right now,” Abando explained.
At present, the company’s completed and ongoing developments have been and will be home to almost 4,000 families.
Summed up by its new name, Alveo concerns itself with so-called life ecosystems, or the deliberate and all-encompassing approach with takes into account the familial, social, physical, mental and emotional well-being of the market, Abando said.