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Alveo Land generates P4 billion from Southern Luzon

Published on 26 October 2012 [ manilatimes.net ]
Written by MADELAINE B. MIRAFLOR

Alveo Land Corp., an Ayala Land Inc. company, has generated around P4 billion in Souther Luzon projects that it launched within the year, contributing almost 30 percent in the total value to the firm’s overall 2012 sales performance so far.

“We’ve already generated much sales in the South Luzon projects that we’ve launched this year,” said Antonio Sanchez, Alveo Land division manager for the Project Development Group.

As of October of this year and after the launch of Mirala, its newest development in the Southern Luzon, Alveo’s Southside communities account for almost 30 percent of the current year’s total volume for the company’s overall 2012 sales performance.

“With the quick take-up, sell-out and net sales performance of Alveo’s Southside coupled with the reported 66 percent market share we now hold in the South Luzon market, these signature communities have further strengthened the company’s already formidable prominence in the Philippine real estate industry,” Sanchez said.

As of this month, Mirala contributed a 75-percent take-up or approximately P2-billion worth of total unit sales after its prior selling, and had sold 270 out of a total 360 lot selections within the development.

Sanchez said that they are targeting to sell 95 percent of the units in Mirala by the end of this year.

“For Mirala, our target is to sell out this year, and it continues to sell well so by the end of the year, it would be substantially sold out,” he added.

Mirala, the recent development of Alveo in Nuvali South, is a 29.5-hectare mixed-use development in Southern Luzon.

Nuvali is Ayala Land’s 1,860-hectare flagship eco-city in Laguna.

Alveo’s first two residential developments in Nuvali are Treveia and Venare.

The approximate amount that Alveo has put into all its Southside developments to date roughly corresponds to P8.3 billion in total investment value.

“Alveo’s Southside portfolio accounted for about 100 unit sales per month in 2012, with a sales value of approximately P4 billion over three quarters this year,” a statement from Alveo Land said.

Alveo Land is a wholly owned subsidiary of Ayala Land.
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