Posted on July 03, 2011 09:02:09 PM [ BusinessWorld Online ]
AYALA LAND, Inc. expects to sell thrice as more residential units under its middle-income brand this year versus 2010 levels after enjoying robust demand in the first semester, an official said late last week.
The property developer is targeting to sell some 3,000 units in both vertical and horizontal developments under the Alveo Land segment versus the 974 units sold in 2010, Alveo Land Corp. Chief Operating Officer Robert S. Lao told reporters in a briefing.
In the first half alone, Alveo Land, which counts Serendra and the Columns as among its projects, already grew sales by 75% to 1,200 residential units and thus topped the 2010 full-year figure.
The sales target is supported by an increase in project launches slated for the year.
“This year, we are targeting to launch 12 projects. Last year was four to five projects,” Mr. Lao said.
Last week, the Ayala Land subsidiary formally launched its P1.7-billion four-tower condominium complex dubbed Marquee Residences which will rise in Angeles City, Pampanga.
The residential project comes on top of the firm’s existing developments in the area: the three-level Marquee Mall and the 35-hectare Marquee Place residential community that was launched in 2007.
Alveo Land will go on to start selling units in the planned expansion of The Lerato, a three-tower condominium development in Makati City, Mr. Lao said.
It will also start selling units in developments planned for Bonifacio Global City in Taguig and in Tagaytay, he said.
Ayala Land operates four major brands -- Ayala Land Premier for the high-end segment, Alveo for the upper and middle-income market, Avida for “affordable” units and Amaia for mass housing.
The developer is also into shopping centers, office space rental, and the tourism and hotel businesses.
Parent firm Ayala Land has earmarked a record P33 billion for capital expenditures this year to bankroll aggressive expansion.
Due to continued demand for residential products, Ayala Land had said it will launch more than 20,000 units across all residential brands -- double from last year -- with an estimated sales value of P57 billion.
Shares in Ayala Land, which reported a 36% surge in profits to P1.6 billion in the first quarter amid brisk sales, rose by 1.28% to close at P15.80 apiece on Friday. -- Neil Jerome C. Morales
____________________________________________________________
