(The Philippine Star) Updated January 14, 2010 12:00 AM
MANILA, Philippines - Ayala Land Inc. (ALI) is going full throttle with the development of Nuvali, a 1,700-hectare masterplanned community in Canlubang, Laguna, with its newest residential project aimed at setting the standard for the company’s next generation of exclusive neighborhoods.
The new project, Santierra, is located right beside Nuvali’s residential and commercial district that will offer a combination of natural and suburban living. Surrounded by tree-lined roads and features, Santierra has started selling lots ranging from 600 to 1,000 square meters.
Santierra, which will rise on a 77-hec-tare property within Nuvali, will be developed in two phases with the first one, occupying 47 hectares, to be launched this year. The second phase on the other hand, comprises 30 hectares.
In a press briefing, ALI president Antonino Aquino said sales take-up of Santierra has been brisk with a total of 108 lots already purchased valued at P1.05 billion.
From a little over P11,000 last week, the lots are now selling at a minimum of P12,200 per square meter. Lot sizes range from 600 to 1,200 sqm. with modal lot cut of about 700 sqm.
Aquino said the lots will be clustered in groups of 50 and 80 to control the traffic flow and ensure the security of residents. With only seven residential lots per hectare, Santierra will provide generous space while maintaining privacy of residents.
Aside from Santierra, a new office building and several retail facilities are in the pipeline within Nuvali.
Bobby Dy, president of AyalaLand Premiers and head of the residential business group, said the group is adding 10,000 square meters of retail space which shall be available by December this year or early 2011.
Among Santierra’s amenities include the village clubhouse, multi-purpose covered courts, amphitheater and the great lawn.The contiguous parks surrounding the village will incorporate outdoor exercise trails, two meter wide jogging and biking lanes, and pocket playgrounds tucked in the shades of a wide variety of indigenous trees.
ALI introduced yesterday its fourth brand, Amaya, which shall take charge of the development of socialized units.
The group has committed to inject P1 billion over the next three years to undertake the development of socialized housing units as part of a strategy to expand its market to a broader segment of the population.
The initial capitalization of P1 billion will cover an initial run of six projects in select industrialized rural areas in southern and central Luzon where end-user demand is expected to be strong. The money will also be used to fund operating expenses and the acquisition of potential landbank areas.
Product offerings will comprise mainly house and lot starter home packages with prices ranging from P600,000 to P1.25 million per unit. The new subsidiary expects to launch its first project in Laguna within the first quarter of 2010.
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