Posted on 09:27 PM, January 12, 2010 [ BusinessWorld Online ]
The country’s largest property developer launched its first project for 2010 yesterday, point
ing to signs that the industry’s growth last year would be sustained.
Executives of Ayala Land, Inc. led by company president Antonino T. Aquino (left)
view a scale model of the Santierra project in Nuvali, a 1,750-hectare mixed-use community
in Sta. Rosa and Calamba, Laguna. He is joined by marketing chief Thomas F. Mirasol
(center) and senior division manager Jose Juan Jugo. -- Jonathan L. Cellona
Ayala Land, Inc. President Antonino T. Aquino said he expects growth to occur “across the board” this year, unlike last year when the company’s profits were hit after demand for high-end projects drastically slowed down.
“[Our sentiment] is reflected on the developments that we are currently doing. This is not just based on optimism but [on concrete signs] that the industry has already picked up,” he said.
Bobby O. Dy, Ayala Land senior vice-president and head of the residential business group, noted that prices of the firm’s Abrio project at the Nuvali master-planned community in Laguna have appreciated by as much as 40% since it was launched two years ago.
“This is a testament to the buyers’ confidence [in the industry] and in making Nuvali a regional center, which seems to be happening sooner than later,” he said.
Ayala Land Senior Vice-President Rex A. Mendoza said that if not for the lethargic first quarter the company experienced last year, 2009 would have been a better year for Ayala Land after sales picked up in the second quarter and onwards.
The property company yesterday launched its latest project at the 1,700-hectare Nuvali in Sta. Rosa, Laguna, the Santierra. It is being sold under the high-end Ayala Land Premier brand.
Santierra will cover 77 hectares and will be done in two phases. A total of 540 lots -- ranging from 600 square meters (sq. m.) to 1,000 sq. m. -- will be sold to buyers.
Santierra lots are being sold to at P12,000 per sq. m. to P15,200 per sq. m., up by 3% from last week when the company started selling the project. “Initially, we wanted to sell 100 lots only but after seeing the demand, we are already looking at 150 lots,” Mr. Mendoza said, adding that 108 lots -- valued at P1.05 billion -- have already been sold. This is a record among Ayala Land Premier projects in Nuvali, he said.
Aside from Santierra, the company will also build its second business process outsourcing office building in Nuvali, and add another 10,000 sq. m. of retail space, from just 2,000 sq. m. last year.
Santierra, the office project, and the retail expansion will cost the company between P3 billion to P5 billion, Mr. Aquino said. “We are trying to fast-track our projects because the buyers are there,” Mr. Aquino said.
Ayala Land is the country’s largest property developer with a market capitalization of P145.83 billion. It operates under three brands -- Avida for the “affordable” market; Alveo for the middle-income market, and Ayala Land Premier for high-end market. The company is also in the process of coming up with a new brand, Amaia, which will cater to “lower-end” market.
Shares in the company did not move at P11.25 apiece yesterday. -- K. J. R. Liu
