By Zinnia B. Dela Peña (The Philippine
Star) Updated October 28, 2012 12:00 AM
MANILA, Philippines - Alveo Land Inc.,
the middle-income residential property unit of Ayala Land Inc., said it expects
to generate P2.4 billion from the sale of lots at its newly-launched project
within the the group’s 1,860-hectare mixed-use eco city Nuvali in Laguna.
In a briefing, Antonio Sanchez III,
division manager of project development for Alveo, said the new project,
Mirala, has already sold P2 billion worth of units or 270 out of a total 360
lots in just a few weeks since its launch in September.
Occupying 29.5 hectares of land,
Mirala offers a selection of larger and more premium lot cuts compared to the
rest of Alveo’s southside portfolio with an average size of 431 square meters
from the previous average of 250 sqm.
The lots are selling at an average
P16,000 per sqm.
Given brisk sales, Alveo said it
expects to sell 95 percent of the lots by the end of the year.
Mirala, which features a pervasive
park environment that provides more space for families to grow, also imparts
the lowest density of any Alveo southside development at only 12 units per
hectare.
The company’s southside communities
account for P4.8 billion or about 30 percent of the total volume of Alveo’s
overall 2012 sales.
“With the quick take-up, sellout 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, while at the same time
constantly presenting new and unique lifestyle innovations that continue to
stay relevant to the needs of today’s upwardly mobile urban achievers,” Sanchez
said.
Property research firm Colliers
International Philippines recently reported that Alveo’s portfolio of southside
developments accounted for a significant majority of property take-ups in
southern Luzon this year, further cementing Alveo’s status as the consistent
market segment leader in the region.
Alveo has consistently held this
position in the past few years, thanks to its innovative portfolio of southern
communities.
Among its signature horizontal
communities in south Luzon – Verdana Homes Mamplasan, Treveia Nuvali, Venare
Nuvali, and the recently launched Mirala Nuvali – captured a hefty 66 percent
of the Laguna market.
Meanwhile, its first leisure
development in Tagaytay City, Kasa Luntian, captured 21 percent of the city’s
condominium market share in just less than a year from its December 2011
launch.
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