Monday, August 3, 2009 | MANILA, PHILIPPINES [ BusinessWorld Online ]
AYALA LAND, Inc. is setting aside P150 million for the development of the new lots in its first leisure project in Morong, Bataan, citing strong demand for their project.
"This is part of Ayala’s efforts to promote tourism. We plan to develop the whole area into a tourism destination," Ayala Land President Antonio T. Aquino said.
The 320-hectare Anvaya Cove will have feature 36 new lots that will be facing either the sea or the mountain. The new lots will be an annex to its largest neighborhood, the Mango Grove place.
Average size of the lots will fall between 650 square meter (sqm) to 1,000 sqm and will be sold for P13,000 to P17,000 per sqm. Currently, 120 hectares of the entire place is already developed with six hectares allotted for the new lots.
On top of this, Mr. Aquino said a lot of amenities, such as the beach and nature club, is also developed already unlike in 2005 when they first marketed the project.
Aside from the beach and nature club, Mr. Aquino said they will also put lots of water sports facilities, villas and casitas. They have also launched recently 20 ready-to-move in units known as the Seascape Ridge as an alternative to those who want to avoid the hassles of developing their own house and lots.
The units will have an average size of 87-sqm and will be sold for P15 million to P19 million.
To date, Anvaya already has more than 510 units in its four neighborhoods known as the Cliffside, the signature neighborhood of the entire Anvaya development because it has the most scenic and commanding views of the beach, Subic Bay, and the Zambales mountain ranges; Mango Grove which will also have its own playground and picnic benches; Wood Park which and Bamboo Grove.
Shares of ALI did not move at P9.10 on Friday. — KJRL
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