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Ayala Land unit cites prospects south of NCR

Posted on October 25, 2012 10:58:16 PM [ Businessworld Online ]

ALVEO LAND Corp., the middle-income arm of property firm Ayala Land, Inc., remains bullish on its projects south of the National Capital Region (NCR) -- which the subsidiary has dubbed collectively as “Southside” -- citing robust sales of Mirala, its latest endeavor.

“We are proud to say that the Southside communities contributed a total of P4.8 billion, or approximately 30%, in total value to Alveo Land’s overall sales this year,” Antonio S. Sanchez III, Alveo Land Corp. project development group division manager, said in a statement yesterday.

Southside -- composed of Verdana Homes Mamplasan, Treveia, Venare and Mirala -- has cornered 66% of Laguna’s real estate market with sales averaging 100 units per month, the firm claimed.

“We’d like to think of the south as our home court where we definitely have a home-court advantage,” Mr. Sanchez told reporters at a press briefing at Mango Tree Bistro, Bonifacio High Street, Taguig City yesterday.

The latest addition to Southside, Mirala, is already 75% sold less than a month after pre-selling began last September.

Alveo Land has also launched the retail component of its low-rise condominium Kasa Luntian in Tagaytay City. “The retail of Kasa Luntian will open in the fourth quarter next year. This will be about 1,500 square meters of retail, equivalent to about a dozen spaces,” Mr. Sanchez said.

He added “there are 100 hectares of future developments still to be launched in Southside worth around P15 billion.”

Ayala Land shares gained 35 centavos or 1.51% to P23.50 apiece yesterday. -- Franz Jonathan G. de la Fuente

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