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AGI eyes P55-billion reservation sales this year

05/07/2012 [ tribune.net.ph ]

Andrew Tan-led Alliance Global Group Inc. (AGI) said it posted very strong reservation sales in the first quarter of 2012 from its four real estate brands which posted record highs making it confident to reach its sales target for 2011.

AGI is confident that all its real estate companies will post P55 billion in reservation sales in 2012, an increase from P37 billion in 2011.

AGI reported a 52 percent growth in reservation sales to P16.4 billion for the first quarter of 2012 versus the same period last year, on the back of record high performances from Megaworld Corp., Empire East Land Holdings Inc., Suntrust Properties Inc. and Global-Estate Resorts Inc. Each of the companies caters to niche markets ranging from the luxury, middle-income and affordable home sectors to the vacation homes segment.

Megaworld senior VP for Marketing Noli Hernandez said the company’s strong performance for the first quarter of this year can be attributed to superior product offerings that address on a large scale the Filipinos’ need for quality, affordable homes in the very best locations. “In our projects, people live better, richer lives and enjoy more value from their homes because everything is equally accessible,” he said.

The reservation sales of Empire East and Suntrust, AGI’s middle-income and affordable housing brands, respectively, came from the strong marketing of the companies’ multi-tower condominium developments in the metro and sprawling residential communities in the Calabarzon.

Global-Estate Resorts, meanwhile, successfully launched Boracay Newcoast, the first and only integrated tourism estate in Boracay.

The development features a kilometer-long white sand beach, oceanview villas, mid-rise condominiums, shopping and dining districts and over 1,500 hotel rooms. Boracay Newcoast is also home to the only 18-hole championship golf course on the island.

“Despite the increase in land prices last year, we see our sales momentum building up continuously for each quarter of 2012,” Hernandez said.

Meanwhile, for the group’s liquor making firm Emperador Distillers, AGI chairman Andrew Tan said it is looking at 2012 as another record year in terms of sales revenues and net income. “EDI is targeting at least 20 percent growth in net income.  Today, Emperador is recognized as the largest-selling brandy brand in the world by volume,” he added.

Tan noted that the acquisition of Diageo’s Sta. Rosa facilities will help increase production and technical capabilities in the Philippines to boost competitiveness in promoting Emperador as a strong global brand. Danessa O. Rivera
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